Toyota Financial Services Boosts Diversity

By Staff Writer July 27, 2020

Toyota Financial Services issued its fifth Diversity & Inclusion (D&I) Bond in the amount of $750 million. Enabling diverse underwriting firms the ability to work on high profile deals, this two-year fixed rate D&I Bond not only serves as an integral component of Toyota’s comprehensive funding program, but also enhances Toyota’s platform for diversity by placing a spotlight on high-quality Minority- and Women-Owned Business Enterprise (MWBE) certified firms.

TFS’ fifth D&I Bond syndication builds upon its longstanding relationships with MWBE brokers by elevating their stature in the transaction, providing them an opportunity to take the lead underwriting role on a bond. It also strengthens the relationship these firms have with their own investors by expanding their access to a primary bond offering.

The lead book-building managers in this transaction consisted entirely of African American-, Hispanic-, and women-owned broker dealers, each sharing Toyota’s commitment to giving back to the community. They included Blaylock Van, LLC; CastleOak Securities, L.P.; Great Pacific Securities; Ramirez & Co. Inc.; and Siebert Williams Shank. Furthermore, these firms have worked closely with TFS as advocates for diversity and inclusion within the industry through participation in industry events, panel presentations, and previously issued D&I Bonds.

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Last modified on Tuesday, 28 July 2020 13:45