Toyota refinances with $15 billion 364-day, three-, five-year loans

By Susanna Moon

Chicago, Nov. 13 – Toyota Motor Credit Corp. closed $15 billion of 364-day, three-year and five-year credit agreements last Friday with BNP Paribas as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreements are as follows:

• $5 billion 364-day syndicated credit facility with BNP Paribas Securities Corp., Citibank, NA, JPMorgan Chase Bank, NA, Bank of America Merrill Lynch and MUFG Bank, Ltd. as joint lead arrangers and joint book managers; Citibank, JPMorgan and Bank of America, NA are swingline lenders; and Citibank, Bank of America, JPMorgan and MUFG are syndication agents;

• $5 billion three-year syndicated credit facility with BNPP Securities, Citibank, JPMorgan, MLPFS and MUFG as joint lead arrangers and joint book managers; Citibank, JPMorgan and Bank of America as swingline lenders; and Citibank, Bank of America, JPMorgan and MUFG as syndication agents; and

• $5 billion five-year syndicated credit facility with BNPP Securities, Citibank, JPMorgan, MLPFS and MUFG as joint lead arrangers and joint book managers; Citibank, JPMorgan and Bank of America as swingline lenders; and Citibank, Bank of America, JPMorgan and MUFG as syndication agents.

The credit agreements replace 364-day, three-year and five-year credit agreements dated Nov. 13, 2017 with BNP Paribas as administrative agent.

Toyota Motor Credit is a Torrance, Calif.-based financing arm and subsidiary of Toyota Motor Corp.

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