Toyota Motor Credit Corporation’s $2.75 Billion Notes Offering

Davis Polk advised Toyota Motor Credit Corporation on the deal.

Toyota Motor Credit Corporation completed an SEC-registered offering of $750 million aggregate principal amount of floating-rate medium-term notes Series B due 2022, $1.4 billion aggregate principal amount of 0.500% medium-term notes Series B due 2023 and $600 million aggregate principal amount of 1.150% medium-term notes Series B due 2027.

Toyota Motor Credit Corporation provides a variety of finance, vehicle and payment protection products to authorized Toyota, Lexus and certain other domestic and import 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 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