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Toyota's 'green bond' an industry first, quickly rises to $1.75 billion

Toyota is greasing the skids for more green car purchases with the announcement of a $1.75-billion bond designed to finance the purchase of high-efficiency Toyota and Lexus models. The Asset-Backed Green Bond is a first for the automotive industry and is making a lot of money available to buy or lease the following vehicles: any of the four Prius variants, Camry Hybrid, Avalon Hybrid, RAV4 EV, Lexus CT 200h and Lexus ES 300h. Originally, the bond was set at $1.25 billion, but Justin Leach, manager of public relations for Toyota Financial Services (TFS), told AutoblogGreen that demand was high and it was quickly oversubscribed. TFS has been looking at more ways to diversify its portfolio after a Diversity & Inclusion Bond that was announced in early 2013 and, with the new Green Bond, TFS is offering something for the "number of investors out there who are looking for investment opportunities in green." The way the money from the bond is used, basically, is that TFS takes the $1.75 billion and uses it to finance the purchase or lease of the nine vehicles listed above. As of right now, all the eligible vehicles are plug-in or hybrids, but the rules simply say that the cars in the program have to meet certain "powertrain, fuel efficiency and emissions" criteria. That means: Minimum EPA estimated MPG (or MPG equivalent for alternative fuel vehicles) of 35 city / 35 highway California Low-Emission Vehicle II (LEV II) certification of super ultra-low emission vehicles (SULEVs) or higher, which would include partial zero emissions vehicles (PZEVs) and zero emissions vehicles (ZEVs). TFS raises plenty of billions in other ways for the rest of the lineup, and got into asset backed securities in 2010, Leach said. Given the success of this first Green Bond, Leach said he expects TFS to keep this idea in its arsenal. "This one was so well received, I would be surprised if we didn't see it again," he said. "If anyone was going to do it, it should be Toyota, right?" Toyota Financial Services (TFS) Issues Auto Industry's First-Ever Asset-Backed Green Bond Bond Proceeds to Fund Consumer Loans and Leases for Toyota's Leading Portfolio of Green Vehicles TORRANCE, Calif., (March 24, 2014) – Toyota Financial Services (TFS) issued the auto industry's first-ever Asset-Backed Green Bond in the amount of $1.75 billion.

Lexus teases Frankfurt Motor Show concept... is it the RC Coupe?

With the teaser image of the concept car above and the announcement that Lexus will be premiering it to the world at the Frankfurt Motor Show on Tuesday, September 10, you know pretty much what we know. The Japanese luxury brand has decided to to say nothing more. Picture sleuthers have, however, suggested that it is a conceptual preview of either the RC Coupe or the hotter RC-F that will be revealed in Tokyo, or, less likely, the coming NX crossover - and that covers all the bases that we know of.
Along with that, Europeans will get to lay eyes on the GS 300h for the first time, the sport sedan powered by Lexus' 2.5L hybrid powertrain. You'll find a skosh more information in the press release below.

Dubai Police conscript 467-hp Lexus RC F into high-performance stable

The Dubai Police Department has added yet another... um, let's call it unconventional, cop car to its ranks. But rather than an ultra-exotic, mid-engined masterpiece, it's the V8-powered Lexus RC F. Finished in the white-and-green color scheme typical of Dubai's fuzz, the RC F was purchased alongside another Toyota product, a utilitarian Toyota Land Cruiser. While the off-road-ready SUV's purpose seems clear, enforcing the emirate's laws in the areas outside the city, the 467-horsepower Lexus will likely follow in the lead of Dubai's other high-performance offerings, appearing more for publicity and public relations than actual law enforcement. Check out a couple shots of the new cop car up top.