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Toyota Said to Issue $1.75 Billion of Green Asset-Backed Bonds

Toyota Motor Corp.’s in-house lender issued $1.75 billion of bonds linked to auto loans, marking one of the first asset-backed deals designed to be environmentally friendly.

The proceeds of the offering, which was increased from about $1 billion, will be used to finance vehicles that are powered by hybrid or alternative fuel, deal documents show. The cars will be required to meet standards of energy efficiency in regulations set by the California Environmental Protection Agency’s Air Resources Board.