Toyota Motor Corp.’s finance unit set terms for a ¥100 billion ($629 million) bond sale, with the five-year coupon rising to the highest level on its yen-denominated bonds since the unit’s 1999 debut. The higher coupon reflects rising Japanese government bond yields and increased funding costs. The news is modestly negative for Toyota financing conditions, but the broader market impact is limited.
Toyota Motor Corp.’s finance unit set terms for a ¥100 billion ($629 million) bond sale, with the five-year coupon rising to the highest level on its yen-denominated bonds since the unit’s 1999 debut. The higher coupon reflects rising Japanese government bond yields and increased funding costs. The news is modestly negative for Toyota financing conditions, but the broader market impact is limited.
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mildly negative
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