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Toyota Motor Finance (China) plans to issue bonds

Published: 06 Apr 2009 01:01:23 PST

Apr. 6, 2009 (China Knowledge) - Toyota Motor Finance (China) Co Ltd, a wholly-owned subsidiary of Japan-based Toyota Financial Services Corp, intends to issue up to RMB 15 billion in bonds to boost its auto sales in China, the Shanghai Securities News reported on Friday.

The company has submitted its application to relevant authorities for the bond issuance, said the newspaper without giving details.

Because of the slow auto market in the Europe and the U.S. amid the financial crisis, international auto giants have focused more attention on the Chinese market.

If the bond issuance is approved, many imported luxury cars such as the Lexus series will obtain more financial support from Toyota Motor Finance.

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