TORRANCE, Calif.,
Sept. 19, 2013 /PRNewswire/ -- Toyota Financial Services
(TFS) is issuing a new Diversity & Inclusion Bond, a key
component of the company's comprehensive funding
program. TFS issued its first Diversity & Inclusion
Bond in January 2013 to positive
response from investors, banks, and other issuers. This
second issuance builds off the program's success and is firmly in
line with TFS' corporate initiatives, supplementing its strong
focus on diversity, both inside and outside of the workplace.
TFS intends future similar transactions, sending a strong message
to other firms about the emphasis TFS places on diversity and
inclusion.
Diversity and minority-owned firms were elevated to lead
underwriting roles on this syndicated transaction. TFS was
pleased to work with Cabrera Capital Markets, LLC; CastleOak
Securities, L.P.; Drexel Hamilton,
LLC; Muriel Siebert & Co., Inc.;
and Toussaint Capital Partners, LLC.
Citi, the transaction's stabilizing lead bank, shares a
long-standing relationship with TFS and is equally committed to
diversity initiatives. "Citi commends Toyota for its
leadership in promoting diversity and inclusion throughout the
industry, which is expanding the experience of underwriters and the
depth of investors," said Peter
Aherne, Head, North America Capital Markets, Syndicate and
New Products at Citi. "We are proud to again collaborate with
Toyota to bring diversity and inclusion bonds to the market."
Love and Long, LLP, a minority and woman owned law firm, 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. This 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.
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/about/diversity.
About Toyota Financial Services
TFS is the finance and
insurance brand for Toyota in the United
States, offering retail auto financing and leasing, as well
as commercial equipment, truck, and fleet financing, through Toyota
Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS
also offers 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 more than 3,200 associates nationwide, and has
assets totaling over $95
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. We announce material financial information using
the investor relations section of our website
(www.toyotafinancial.com) and SEC filings. We use these channels,
press releases, and social media to communicate about our company,
our services and other issues. While not all information we post on
social media is of a material nature, some information could be
material. Therefore, we encourage those interested in our company
to review our posts on Twitter at
www.twitter.com/toyotafinancial.
SOURCE Toyota Financial Services