Toyota Motor Credit Corporation’s $3 Billion Notes Offering

Davis Polk advised Toyota Motor Credit Corporation in the offering.

Toyota Motor Credit Corporation executed an offering of $1.25 billion aggregate principal amount of 1.150% medium-term notes, Series B due 2022, $1 billion aggregate principal amount of 1.350% medium-term notes, Series B due 2023 and $750 million aggregate principal amount of 1.800% medium-term notes, Series B due 2025.

Toyota Motor Credit Corporation provides retail and wholesale financing, retail leasing and certain other financial services to authorized Toyota and Lexus vehicle dealers and their customers in the United States (excluding Hawaii) and Puerto Rico. Toyota Motor Credit Corporation is an indirect wholly owned subsidiary of Toyota Motor Corporation of Japan.

The Davis Polk corporate team advising Toyota Motor Credit Corporation included partner Nicholas A. Kronfeld (Picture), counsel Michael J. Moldowan and associate Crystal Jen. Partners Lucy W. Farr and Michael Farber and associate Talya Presser provided tax advice.

Involved fees earner: Michael Farber – Davis Polk & Wardwell; Lucy Farr – Davis Polk & Wardwell; Crystal Jen – Davis Polk & Wardwell; Nicholas Kronfeld – Davis Polk & Wardwell; Michael Moldowan – Davis Polk & Wardwell; Talya Presser – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Toyota Motor Credit Corporation;

Author: Ambrogio Visconti