TMF finds no shortage of demand for debut benchmark

Toyota may be a familiar name in the corporate bond markets, but Toyota Motor Finance Netherlands BV stepped out of the shadow of some of its parent company’s better known subsidiaries to issue its first benchmark bond in a major currency.

  • By Nigel Owen
  • 19 Sep 2018

Toyota Motor Finance Netherlands (TMF) is a frequent issuer of private placements and smaller MTN deals in a range of currencies. But before it announced a global investor call, it had never issued a benchmark public deal in dollars, euros or sterling.

TMF is a wholly owned ...

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4 Barclays 53,455.07 233 4.45%
5 Morgan Stanley 44,764.71 268 3.73%

Bookrunners of Euro Denominated Corporate IG Bonds

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2 SG Corporate & Investment Banking 13,141.46 53 6.57%
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5 Citi 11,677.27 53 5.83%

Bookrunners of European HY Bonds

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1 Deutsche Bank 2,970.40 18 8.22%
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5 Goldman Sachs 2,128.73 17 5.89%

Bookrunners of Dollar Denominated HY Bonds

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4 Goldman Sachs 10,521.81 79 7.25%
5 Morgan Stanley 8,720.88 66 6.01%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 SG Corporate & Investment Banking 12,515.88 54 5.42%
2 BNP Paribas 12,352.71 71 5.35%
3 Citi 12,116.90 53 5.25%
4 JPMorgan 10,853.37 48 4.70%
5 Bank of America Merrill Lynch 10,703.57 44 4.63%