Oct. 21 (Bloomberg) -- Toyota Motor Credit, the U.S. finance unit of Toyota Motor Corp., sold $1.5 billion of dollar-denominated, senior unsecured bonds.
The 2 percent, five-year notes yield 65 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. Proceeds from the offering will be used for general corporate purposes.
In May, the unit sold equal $750 million portions of three-year, 0.8 percent securities priced to yield 42 basis points more than similar-maturity Treasuries and floating-rate notes at 29 basis points more than the three-month London interbank offered rate, Bloomberg data show.
Today’s offering is expected to be rated Aa3 by Moody’s Investors Service, Bloomberg data show. Bank of America Corp., Citigroup Inc., Morgan Stanley and Royal Bank of Canada managed the sale.
Toyota Motor Credit offers services including retail financing, retail leasing, wholesale financing and insurance, according to a company regulatory filing. Toyota is the world’s largest carmaker.
To contact the reporter on this story: Callie Bost in New York at email@example.com
To contact the editor responsible for this story: Alan Goldstein at firstname.lastname@example.org