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Toyota Unit Sets Highest Yen Bond Coupon Since 1999
6 Jun
Summary
- Toyota Finance unit pricing a ¥100 billion bond sale.
- Five-year coupon reaches highest since 1999 for yen bonds.
- Rising government bond yields are increasing funding costs.
Toyota Motor Corp.'s finance arm has established terms for a ¥100 billion bond issuance. The five-year coupon for this sale has climbed to the highest level seen for Toyota's yen-denominated bonds since its market debut in 1999. This development reflects the impact of increasing yields on Japanese government bonds.
These rising yields are directly contributing to higher funding costs for Toyota Finance Corp. The company priced ¥42 billion of its notes as part of this sale. The exact figures indicate a notable shift in borrowing expenses for the automotive giant's financial services division.
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