Toyota Motor Credit Corporation

10 February 2009 ---

 BNP Paribas CIB lead managed the largest recent corporate EUR denominated bond for Toyota Motor Credit Corporation (3.75 billion euro). It is the largest corporate euro denominated bond deal since 2003 (for France Telecom – also lead managed by BNP Paribas) and the largest ever transaction by the Toyota Group in any currency – previous deals were USD 1.5 billion or less.

The success of the deal can be attributed to the strong rating of TMCC (Aaa/AAA) coupled with the attractive spread – a result of the overall weakness of the auto sector. Many new investors saw an opportunity to gain exposure to the TMCC name at attractive levels and participated in size.

Official date : 10/02/2009