Toyota’s first ESG bond

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Toyota Motor’s first ESG bond

Shearman & Sterling advised Toyota Motor in connection with its first US-dollar sustainability bond offering, consisting of US$1.25 billion 0.681% senior notes due 2024, US$1 billion 1.339% senior notes due 2026, and US$500 million 2.362% senior notes due 2031. The net proceeds of the notes will be allocated to eligible projects defined under Toyota’s sustainability bond framework. Capital markets partners Masashi Ikeda and Toshiro Mochizuki in Tokyo led the team.