We advised Toyota Motor Credit on the offering

Davis Polk advised Toyota Motor Credit Corporation in connection with an SEC-registered offering of $450 million aggregate principal amount of floating-rate medium-term notes, Series B due 2029 linked to compounded SOFR; $1.15 billion aggregate principal amount of 4.050% medium-term notes, Series B due 2029; and $900 million aggregate principal amount of 4.600% medium-term notes, Series B due 2033.

Toyota Motor Credit Corporation provides a variety of finance and voluntary vehicle and payment protection products and services to authorized Toyota and Lexus dealers or dealer groups, private-label dealers or dealer groups and, to a lesser extent, other domestic and import franchise dealers and their customers in the United States and Puerto Rico. Toyota Motor Credit Corporation is an indirect wholly owned subsidiary of Toyota Motor Corporation of Japan.

The Davis Polk corporate team included partner Christopher S. Schell, counsel Michael Moldowan and Lisa Giglio Connor and associate Maria Vlachou. Partner Kara L. Mungovan, counsel Yixuan Long and associate Michelle Kim provided tax advice. All members of the Davis Polk team are based in the New York office.

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