July 26, 2017 5:03 AM ET

Consumer Finance

Company Overview of Toyota Motor Credit Corporation

Company Overview

Toyota Motor Credit Corporation provides various finance and insurance products to authorized Toyota and Lexus dealers or dealer groups, and other domestic and import franchise dealers and their customers in the United States and Puerto Rico. The company acquires retail installment sales contracts and leasing contracts accounted for as operating leases from dealers. It also provides dealer financing, including wholesale financing, working capital loans, revolving lines of credit, and real estate financing to dealers and various multi-franchise organizations. In addition, the company offers vehicle service agreements, guaranteed auto protection agreements, prepaid maintenance contracts, exces...

19001 South Western Avenue

Torrance, CA 90501

United States

Founded in 1982

3,185 Employees

Phone:

310-468-1310

Key Executives for Toyota Motor Credit Corporation

President, Chief Executive Officer & Director
Age: 62
President of Toyota Motor Corporation and Director of Toyota Motor Corporation
Age: 61
Chief Administrative Officer and Senior Vice President
Age: 69
Group VP & Chief Accounting Officer
Age: 59
Treasurer & Director
Age: 55
Compensation as of Fiscal Year 2017.

Toyota Motor Credit Corporation Key Developments

Toyota Motor Credit Corporation Raises USD 600 Million in Bonds Offering

Toyota Motor Credit Corporation has raised USD 600 million through an issue of international bonds. The bonds will mature on December 24, 2018 with a coupon rate of 3 month London interbank offered rate (LIBOR) plus 0.15%. The settlement date of the transaction is June 23, 2017. Bank of America Merrill Lynch is acting as book runner for the offering.

Toyota Motor Credit Corporation Announces Executive Changes

On December 2, 2016, Toyota Motor Credit Corporation announced that Chris Ballinger, Senior Vice President and Chief Financial Officer of the company, has resigned, effective January 9, 2017. Mr. Ballinger will be joining Toyota Research Institute as Chief Financial Officer and Head of Mobility Services. Effective upon Mr. Ballinger’s departure, Michael Groff, President and Chief Executive Officer of the company, will act as principal financial officer of the company. Ron Chu, Group Vice President, will continue to be responsible for corporate tax and accounting functions and will act as the company’s principal accounting officer. Mr. Chu will report to Mr. Groff.

Toyota Motor Credit Corporation, Toyota Motor Finance (Netherlands) B.V., Toyota Financial Services (UK) Plc, Toyota Leasing Gmbh, Toyota Leasing Gmbh , Toyota Credit Canada Inc., Toyota Kreditbank Gmbh and Toyota Finance Australia Ltd. Enter into Credit Agreements

Toyota Motor Credit Corporation entered into the credit agreements with $5.0 billion 364-day syndicated credit facility pursuant to a 364 Day Credit Agreement, dated as of November 15, 2016 (the "364 Day Credit Agreement"), among TMCC, Toyota Motor Finance (Netherlands) B.V. ("TMFNL"), Toyota Financial Services (UK) PLC ("TFS(UK)"), Toyota Leasing GMBH ("TLG"), Toyota Credit de Puerto Rico Corp. ("TCPR"), Toyota Credit Canada Inc. ("TCCI"), Toyota Kreditbank GMBH ("TKG"), and Toyota Finance Australia Limited ("TFA"), as Borrowers, the lenders party thereto, and BNP Paribas, as Administrative Agent, Swing Line Agent and Swing Line Lender, BNP Paribas Securities Corp. ("BNPP Securities"), Citigroup Global Markets Inc. ("CGMI"), Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPFS") and The Bank of Tokyo-Mitsubishi UFJ Ltd. ("BTMU"), as Joint Lead Arrangers and Joint Book Managers, Citibank, N.A. ("Citibank") and Bank of America, N.A. ("Bank of America"), as Swing Line Lenders, and Citibank, Bank of America, and BTMU, as Syndication Agents. $5.0 billion three year syndicated credit facility pursuant to a Three Year Credit Agreement, dated as of November 15, 2016 (the "Three Year Credit Agreement"), among TMCC, TMFNL, TFS(UK), TLG, TCPR, TCCI, TKG and TFA, as Borrowers, the lenders party thereto, and BNP Paribas, as Administrative Agent, Swing Line Agent and Swing Line Lender, BNPP Securities, CGMI, MLPFS, and BTMU, as Joint Lead Arrangers and Joint Book Managers, Citibank and Bank of America, as Swing Line Lenders, and Citibank, Bank of America, and BTMU, as Syndication Agents. $5.0 billion five year syndicated credit facility pursuant to a Five Year Credit Agreement, dated as of November 15, 2016 (the "Five Year Credit Agreement" and, collectively with the 364 Day Credit Agreement and the Three Year Credit Agreement, the "Credit Agreements"), among TMCC, TMFNL, TFS(UK), TLG, TCPR, TCCI, TKG and TFA, as Borrowers, the lenders party thereto, and BNP Paribas, as Administrative Agent, Swing Line Agent and Swing Line Lender, BNPP Securities, CGMI, MLPFS, and BTMU, as Joint Lead Arrangers and Joint Book Managers, Citibank and Bank of America, as Swing Line Lenders, and Citibank, Bank of America and BTMU, as Syndication Agents.

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