Toyota Industries Corporation (President: Akira Onishi, “Toyota Industries”) announced today that it has determined to issue senior unsecured notes denominated in U.S. dollars (the “Notes”) in the overseas securities markets. The key terms of the Notes are described below.
In response to its growing global operations, and to diversify its funding sources in foreign currencies, Toyota Industries aims to gain access to overseas securities markets which encompass a broad universe of investors and to strengthen its funding base by expanding its funding options and broadening its investor base.
| U.S. dollar-denominated senior unsecured notes due 2023 |
U.S. dollar-denominated senior unsecured notes due 2028 |
|
|---|---|---|
| 1. Issue Amount | US$500 million | US$500 million |
| 2. Maturity Date | March 16, 2023 | March 16, 2028 |
| 3. Coupon | 3.235% per annum | 3.566% per annum |
| 4. Issue Price | 100% of the principal amount | 100% of the principal amount |
| 5. Settlement Date | March 16, 2018 | |
| 6. Offering Method | The Notes are being offered in overseas markets mainly in the United States, Europe and Asia. Within the United States, the Notes are being offered only to qualified institutional buyers in reliance on the exemption from registration requirements provided by Rule 144A under the United States Securities Act of 1933, as amended. | |
| 7. Listing | To be listed on the Singapore Exchange Securities Trading
Limited. |
|
| 8. Expected Rating | AA- (S&P), A1 (Moody’s) | |
| 9. Use of Proceeds | Toyota Industries intends to use the net proceeds from the offering of the Notes for general corporate purposes, including capital expenditures and investments in research and development. | |
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