TOYOTA MOTOR CREDIT CORP: debt financing — Toyota Motor Credit enters new $5B intercompany revolver with Toyota Motor Sales, replaces prior facility

TOYOTA MOTOR CREDIT CORP

New credit agreement dated April 1, 2024, provides up to $5B revolving credit from Toyota Motor Sales to TMCC.
Facility is available for general corporate purposes; no amount was drawn as of filing date.
Commitments run to March 31, 2027, replacing the prior $5B agreement dated April 1, 2023.
The old agreement was terminated effective April 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

TOYOTA MOTOR CREDIT CORP incurred revolving credit of up to $5,000,000,000 with Toyota Motor Sales, U.S.A, Inc. maturing March 31, 2027.

Instrument: revolving credit
Principal: up to $5,000,000,000
Counterparty: Toyota Motor Sales, U.S.A, Inc.
Maturity: March 31, 2027
Event: incurrence

Exact text from the filing

On April 1, 2024, Toyota Motor Credit Corporation, a California corporation (“TMCC”), as borrower, entered into a revolving credit agreement (the “Intercompany Credit Agreement”) with Toyota Motor Sales, U.S.A, Inc., a California corporation (“TMS”), as lender, providing for a revolving credit facility with aggregate lending commitments of up to $5,000,000,000.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TOYOTA MOTOR CREDIT CORP terminated Revolving Credit Agreement with Toyota Motor Sales, U.S.A, Inc. (effective 2024-04-01).

Action: termination
Agreement: credit facility
Counterparty: Toyota Motor Sales, U.S.A, Inc.
Effective: 2024-04-01

Exact text from the filing

The Intercompany Credit Agreement replaces the Revolving Credit Agreement, dated as of April 1, 2023, between TMCC and TMS, which was terminated on April 1, 2024.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TOYOTA MOTOR CREDIT CORP entered into Intercompany Credit Agreement with Toyota Motor Sales, U.S.A, Inc. valued at $5,000,000,000 (effective 2024-04-01).

Action: entry
Agreement: credit facility
Counterparty: Toyota Motor Sales, U.S.A, Inc.
Value: $5,000,000,000
Effective: 2024-04-01

Exact text from the filing

On April 1, 2024, Toyota Motor Credit Corporation, a California corporation (“TMCC”), as borrower, entered into a revolving credit agreement (the “Intercompany Credit Agreement”) with Toyota Motor Sales, U.S.A, Inc., a California corporation (“TMS”), as lender, providing for a revolving credit facility with aggregate lending commitments of up to $5,000,000,000.

View on SEC.gov

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Source: SEC EDGAR

accession 0000950103-24-004776

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