Toyota has sold ESG (environmental, social and governance) labeled debt in dollar amounts for the first time in two years in an attempt to increase production of electric vehicles and compete with electric vehicle maker Tesla. of America. Japan Times reported.
The report cites a person with knowledge of the matter as saying the maker has valued US$1.5 billion (RM6.8 billion) for the three-part sustainability bond. According to the source, the book orders are said to be worth more than US$6 billion (RM27.4 billion) as of last Thursday.
According to a Nikkei Asia reported, the three parts of the sustainable bond will have three-year, five-year and 10-year maturities, with yields of 5.275 percent, 5.18% and 5.123% respectively; these bonds have received an A1 credit rating from Moody’s Investors Service, Nikkei Asia report added.
Toyota has issued sustainability bonds under the Textile Planet Bond banner since 2021, the proceeds of which it intends to use to support environmental and social projects, in addition to the aforementioned projects. development and production of electric vehicles.
In 2021, Toyota issued 430 billion yen (RM14.1 billion at today’s exchange rate) as sustainable bonds and this issuance is split into dollar and yen bonds.
The Japanese manufacturer announced in May that it will establish the BEV Factorya new outfit dedicated to promoting EV development and its businesses, a month before its launch committed to launch 10 new electric vehicles by 2026. Last month, it held Toyota Technical Workshopin which it announced a range of technologies that will aid its transition into a mobile company.
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