Davis Polk advised Toyota Motor Credit Corporation in connection with an SEC-registered offering of $850 million aggregate principal amount of 1.700% medium-term notes, Series B, due 2019, $400 million aggregate principal amount of floating-rate medium-term notes, Series B, due 2019, $1.20 billion aggregate principal amount of 2.600% medium-term notes, Series B, due 2022, $300 million aggregate principal amount of floating-rate medium-term notes, Series B, due 2022 and $750 million aggregate principal amount of 3.200% medium-term notes, Series B, due 2027.

Toyota Motor Credit Corporation provides retail and wholesale financing, retail leasing and certain other financial services to authorized Toyota and Lexus vehicle dealers and their customers in the United States (excluding Hawaii) and Puerto Rico. Toyota Motor Credit Corporation is an indirect wholly owned subsidiary of Toyota Motor Corporation of Japan.

The Davis Polk corporate team included partner Nicholas A. Kronfeld, counsel Michael J. Moldowan and associate Jeremy Larkins. Partner Lucy W. Farr and associate Anthony L. Oliva provided tax advice. All members of the Davis Polk team are based in the New York office.

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