TORRANCE, Calif., Jan. 18, 2013 /PRNewswire/ -- Toyota
Financial Services (TFS) launched its first Diversity &
Inclusion Bond. This new type of bond syndication will
become a component of the company's comprehensive funding program,
and is firmly in line with the company's corporate initiatives,
supplementing its strong focus on diversity, both inside and
outside of the workplace.
The execution of this bond reflects the collaboration among TFS,
Lebenthal Capital Markets, and Citi, who worked together to develop
this transaction. Lebenthal Capital Markets has trademarked a
Diversity Bond, which provided a framework for the TFS Diversity
& Inclusion bond. Diversity and minority-owned firms were
elevated to lead underwriting roles on this syndicated
transaction. TFS is pleased to be working with a diverse
range of underwriters, including Lebenthal Capital Markets, Loop
Capital Markets, Mischler Financial Group, Inc., Ramirez & Co,
Inc., and The Williams Capital Group, LP. Citi, also among
the leads, shares a long-standing relationship with TFS, and is
equally committed to diversity initiatives. "Citi's Capital
Markets team is proud to partner with Toyota on this groundbreaking
transaction, which is a testament to the importance of Diversity
& Inclusion initiatives to Toyota, Citi, and the industry,"
said Peter Aherne, Head, North
America Capital Markets, Syndicate and New Products at Citi.
A diversity law firm, Gonzalez
Saggio & Harlan, LLP, is acting as co-issuer's counsel,
together with Davis Polk &
Wardwell, LLP. O'Melveny & Myers, LLP is acting as
underwriters' counsel.
The Diversity & Inclusion Bond provides numerous
benefits. It allows TFS to capture a more diverse investor
base, increasing the depth and resiliency of its U.S. registered
bond program. The new type of bond syndication also
enables diversity firms to strengthen their relationships with
clients, and gives their investors more access to TFS bonds and the
opportunity to participate in higher profile deals.
The response from investors, banks, and other issuers has been
positive. TFS intends for this to be the first of similar
transactions, sending a strong message to other firms about the
emphasis TFS places on diversity and inclusion.
TFS' commitment to diversity, including philanthropic endeavors,
associate training programs, and other diversity initiatives, has
led to TFS being recognized repeatedly by DiversityInc, Black
Enterprise, Hispanic Business, and the Human Rights Campaign as
leaders in diversity and inclusion.
For more information on TFS' Capital Markets programs, please
visit www.toyotafinancial.com. For more information about
Toyota's commitment to diversity and inclusion, please visit
www.toyota.com/diversity. Lebenthal Capital Markets may be
contacted for information on their Diversity Bond program.
About Toyota Financial Services
TFS is the finance and insurance brand for Toyota in
the United States, offering retail
auto financing and leasing through Toyota Motor Credit Corporation
(TMCC) and Toyota Lease Trust and extended service contracts
through Toyota Motor Insurance Services (TMIS). Lexus
Financial Services is the brand for financial products for Lexus
dealers and customers. TFS currently employs over 3,300 associates
nationwide, and has managed assets totaling $93.1 billion. It is part of a worldwide
network of comprehensive financial services offered by Toyota
Financial Services Corporation, a wholly-owned subsidiary of Toyota
Motor Corporation. For more information, please visit
www.toyotafinancial.com.
SOURCE Toyota Financial Services