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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.

Toyota Sienna Swagger Wagon rides again with Busta Rhymes

Let's face it: there are few things less "gangsta" than a minivan (which goes a long way towards explaining why crossovers have been gradually taking their place as the family-hauler of choice across America, but we digress). The point here is not lost on Toyota, which has embraced the uncool image of the minivan with the Swagger Wagon campaign.
We first saw the suburban-goes-urban campaign pop up with the introduction of the new Sienna back in 2010. And now that the Sienna's been updated for 2015, the campaign is back again, featuring none other than Trevor Tahiem Smith, Jr. himself... better known to most as Busta Rhymes. The decidedly white-bread video spot that follows may make you cringe, but you've got to admit that it's well done, even if it doesn't have the charm and freshness of the original.

Lightweight Toyota GT86 spotted on Nordschleife with carbon panels, upgraded aero

We've seen (and frankly reported on) so many rumors of more powerful and performance-focused versions of the Subaru BRZ, Toyota GT86 and Scion FR-S at this point that haven't materialized that, at this point, we're almost tired of them. Almost. But what we have here was enough to pique our jaded interests as only a carbon-bodied sports car on the Nürburgring could do.
What we're looking at is, well, we don't quite know, to tell you the truth. What we can tell is that it's a Toyota GT86 (Scion FR-S for us) wearing new wheels and a carbon-fiber hood, roof, racing-spec rear wing and subtle lip spoiler. The vents in the hood indicate that the prototype in question could be packing an upgraded engine to go with the lighter body panels and upgraded aero, and the interior (at least as far as we can see) looks pretty well stripped out.
The right-hand drive configuration tells us this is either destined for former territories of the British Empire or for the racetrack. Considering the ride height, full glass and apparent lack of roll cage, our money's on this prototype is being developed for the Japanese Domestic Market, where Toyota badges the sports car simply as the 86. We can always hope, though, that some version makes it into Scion showrooms in North America... we just won't get our hopes up too high.