Toyota Spins Out Second RMBS

Toyota Finance, the funding wing of Japanese auto giant Toyota Motor, has returned with its second residential mortgage-backed securities deal.

  • 27 Nov 2007
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—Hugh Leask

Toyota Finance, the funding wing of Japanese auto giant Toyota Motor, has returned with its second residential mortgage-backed securities deal. Nikko Citigroup is arranging and underwriting the JPY46.5 billion ($429.6 million) transaction.

The deal, known as Toyota Finance RMBS Series 2, is split into three AAA-rated tranches of notes: a JPY25.5 billion ($235.8 million) floating-rate class A; a JPY8.5 billion ($78.5 million) fixed-rate B1 class and a JPY12.5 billion ($115.5 million) class B2 fixed-rate tranche.

Officials at the firms involved could not be immediately reached for comment.

  • 27 Nov 2007

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2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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5 Credit Suisse 50,788.13 152 5.52%