By Cristal Cody
Prospect News, Feb. 15 - Toyota Credit Canada Inc. priced an upsized C$400 million of 2.45% medium-term notes (Aa3/AA-/DBRS: AA) at 99.991 to yield 2.452% in a private placement on Wednesday, informed sources said.
The notes due Feb. 27, 2017 priced at a spread of 103 basis points over the Canadian bond curve.
The deal was launched at C$250 million in size at 105 bps, plus or minus 2 bps.
BMO Capital Markets Corp., CIBC World Markets Inc., RBC Capital Markets Corp. and TD Securities Inc. were the managers.
The Markham, Ont.-based issuer is a subsidiary of Toyota Motor Corp.
| Issuer: | Toyota Credit Canada Inc.
|
| Amount: | C$400 million
|
| Maturity: | Feb. 27, 2017
|
| Securities: | Medium-term notes
|
| Bookrunners: | BMO Capital Markets Corp., CIBC World Markets Inc., RBC Capital Markets Corp., TD Securities Inc.
|
| Coupon: | 2.45%
|
| Price: | 99.991
|
| Yield: | 2.452%
|
| Spread: | 103 bps over Canadian bond curve
|
| Call feature: | Non-callable
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 27
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
| Price talk: | 105 bps, plus or minus 2 bps
|
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