The finance arm of Toyota issued their 2nd green ABS with an impressive US$1.25bn deal, after being the first to issue a labelled green ABS in 2014. There are 7 tranches with a range of tenors (1-5yrs) and coupons (0.3%-1.74%). Citi, Barclays, JP Morgan and Lloyds were the lead underwriters.
In line with Toyota’s last green ABS issuance, proceeds from the bond will go to fund a pool of leases and loans for low-carbon Toyota vehicles. To give you an idea of the size of the pool – Toyota’s first green ABS bond financed the purchase of 39,900 vehicles! Toyota sets clear criteria for eight different models of cars that can be funded:
For more details of Toyota’s latest green bonds, see here