The investment-grade notes are due 2026, 2028 and 2033

Davis Polk advised the joint bookrunners and joint lead managers in connection with an SEC-registered takedown offering of senior notes by Toyota Motor Corporation, which consisted of $500 million aggregate principal amount of 5.275% senior notes due 2026, $500 million aggregate principal amount of 5.118% senior notes due 2028 and $500 million aggregate principal amount of 5.123% senior notes due 2033. The net proceeds of the notes will be allocated to new or existing Eligible Projects as defined under Toyota’s “Woven Planet Bond Framework (Sustainability Bond Framework).”

Toyota is a leading global producer of automobiles based in Japan. The company sells its vehicles, which include the Toyota and Lexus brands, in approximately 200 countries and regions, with primary markets in Japan, North America, Europe and Asia. Toyota also provides related financial services for customers and dealers in 43 countries and regions through its subsidiaries, including Toyota Motor Credit Corporation and Toyota Financial Services Corporation.

The Davis Polk corporate team included partners Jon Gray and Christopher Kodama and associates Chihiro Sasaki and Dylan H. Lojac. Partner Patrick S. Sinclair provided regulatory advice. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Counsel Charles Shi provided executive compensation advice. Members of the Davis Polk team are based in the Tokyo, New York and London offices.

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