U.S. Markets open in 7 hrs

Toyota readies first-ever 'green' auto ABS

By Charles Williams

NEW YORK, March 6 (IFR) - Toyota is prepping the first-ever "green bond" in the US auto ABS market, which will be used to finance future loans and leases of hybrid, electric and alternative-fuel vehicles.

The roughly USD775m auto loan bond is expected to be formally announced next week, sources told IFR.

Toyota Motor Credit Corp has mandated Citigroup (structuring), Bank of America Merrill Lynch and Morgan Stanley as joint bookrunners on the trade.