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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.

2016 Lexus GS F is a .22 in a .357 world, and that might not be a bad thing

In Max Brooks' zombie epic World War Z: An Oral History of the Zombie War, the author envisions an apocalypse where the living dead necessitate a rethinking of societal behavior. One such change, among many, was the replacement of large-caliber, automatic weapons with smaller .22-caliber rounds and semi-automatic firearms that promise better accuracy when battling the undead. We're hoping Lexus used this as its inspiration when finalizing the numbers for its 467-horsepower, 4,000-pound GS F sedan. Lexus may not have brought a knife to a gun fight, but it's fair to say the firepower of its new GS F is lagging behind that of its German rivals. While BMW, Mercedes-Benz, Audi and most recently, Cadillac, are playing with force-induced V8s and power figures that are well north of 550 ponies, Lexus' kiddy table approach belies a significant weight savings against some of its rivals. At just 4,034 pounds, the Lexus is some 350 pounds lighter than the BMW M5 and nearly 400 pounds lighter than the Mercedes-Benz E63 AMG S 4Matic (that said, the Lexus is only about 100 pounds lighter than the 640-horsepower Cadillac CTS-V). We won't know if this weight advantage is enough for the 2016 GS F to outrun its competitors until we're able to drive it, though. Beyond that, Lexus has fitted the sort of tinsel typical of its high-performance models, with an even more wildly gaped fascia and vertically staggered rear exhausts. Meaty wheels and tires hide under flared wheel arches, while the cabin features far more aggressive sport seats and stylish upholstery. Take a look at our live images of the new GS F, fresh off is debut at the 2015 Detroit Auto Show.

New Lexus ES will debut at Shanghai Motor Show

Lexus will debut a new version of its ES sedan at the Shanghai Motor Show later this month. Don't expect it to be a total redesign, however – with the sixth-generation ES having just gone on sale in late 2012, we only anticipate a mid-cycle refresh. That's the impression we get from the teaser image above, too. The most prominent change is the reshaping of the headlamps with an LED swoosh, the overall shape of the fascia is very similar to that of the current car. The grille looks to be a bit more angular and pronounced, perhaps indicating the inclusion of an F Sport trim – something the ES currently does not have. The ES holds a unique position in the Lexus lineup. It's the only of the automaker's sedans not to be based on rear-wheel-drive architecture – the ES uses a version of the fullsize Toyota Avalon platform. That said, the ES is hugely important, with some 1.7 million examples being sold globally over the past 25 years. We'll know more when the ES officially bows in the not-too-distant future. Related Video: THE NEW LEXUS ES TO MAKE ITS GLOBAL DEBUT AT AUTO SHANGHAI 2015 BEIJING – April 10, 2015 - The new Lexus ES luxury sedan will make its global debut at Auto Shanghai 2015 on April 20, 2015. The Lexus ES established a unique and important position in the luxury sedan segment with its elegant styling, extraordinary quality, and Lexus' best-in-class service when it was introduced in 1989. More than 1.7 million units have been sold globally over the past 25 years. The new Lexus ES maintains its classical elegance while conveying a more dynamic experience and luxurious craftsmanship. The ES will be on display April 22-29, 2015 at the Lexus booth in Hall 7.1 at the National Exhibition and Convention Center at Auto Shanghai 2015.