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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 RC F takes star turn in 'Men in Black: International' blockbuster

Here's a little car candy for the holidays. There have been three :Men in Black" films, the last one in 2012 (even though it seems a lot longer ago, doesn't it?). "Men in Black: International," due for release on June 14, looks like it will showcase its vehicles in a way the previous movies didn't, starting with getting the Lexus RC F ready for its close-up. This will be Lexus' second blockbuster turn in two years, after putting an LC in the line of fire in this year's "Black Panther". And if "MIB: International" gives off the whiff of petrol, that's at last partly because F. Gary Gray directs, the man behind 2003's "The Italian Job " and 2017's " The Fate of the Furious." This is the first "MIB" to give the agents a whiz-bang modern car. The most modern vehicle previously was a "new hotness" 2003 Mercedes-Benz E550 in the 2002 sequel, but that was primarily a joke referring to the 1986 Ford LTD, referred to as a "Ford P.O.S.," in the first movie. The third film, which took place in the sixties, used a 1964 Ford Galaxie. "MIB: International" includes a few throwbacks to the movies and the television series. The RC F goes airborne with the help of a big red button, just like that '86 LTD. A bigger and better hovercycle ties into the hovercycle from the TV show. The all-new move comes with a mid-seventies Jaguar XJ; whereas the first agents merely retrieved their weapons from the trunk, the XJ not only holds weapons, it disassembles into weapons systems. As Jalopnik noted, in many ways this movie " looks just like 'Thor: Ragnarok' but set in a different universe." Should go well enough with a bucket of popcorn and pail of Coca-Cola, though. Related Video:

2020 Lexus LC 500 Luggage Test | Hey, why not?

I will admit that I initially did this as a joke. A seemingly endless parade of SUVs had been passing through Autoblog Portland HQ, each of which was subjected to my luggage test. Then the 2020 Lexus LC 500 showed up resplendent in metallic Flare Yellow, a shade that attracted gazes like it was on fire. A couple stopped in front of my house and just chatted about it for a while. A little girl exclaimed, "Look, Mom, a fancy car! The yellow is so pretty!" Indeed, little girl, indeed. So really, I had the car, I had the luggage, I'd been doing the tests every week, so hey, what the hell? Turns out I was about to learn something. First thing's first: Open the trunk. It's a fobless process like nearly everything nowadays, but finding the button can be tricky. It's not adjacent to the license plate, rather, it's encased within the right taillight. Once found, you appreciate that it's both hidden and easily accessible.  Once open, there's 5.4 cubic feet of space in this V8-powered LC 500. The 500h hybrid has 4.7 cubes, which would be the same as a Porsche 911's frunk. However, when talking about such small volumes, the shape of the trunk counts for so much more than it would in trunks of larger numerical value. In fact, it can easily matter more than the cubic-foot total, as we're about to see. As a reminder, I use two midsize roller suitcases that would need to be checked in at the airport (26 inches long, 16 wide, 11 deep), two roll-aboard suitcases that just barely fit in the overhead (24L x 15W x 10D), and one smaller roll-aboard that fits easily (23L x 15W x 10D). I also include my wife's fancy overnight bag just to spruce things up a bit (21L x 12W x 12D).  Holy crap! That's the biggest bag and the biggest medium-sized bag. They fit easily and there's some room to spare for some odds and ends. I tried fitting that same big bag in my 1998 BMW Z3, which has a 5.0-cubic-foot trunk. That biggest bag doesn't come close to fitting, going to show the importance of trunk shape, which is particularly deep and wide in the LC, if fairly shallow. It could also fit two of the medium-sized bags and my wife's fancy bag. Quite frankly, this is exceptional for a two-door GT car like the Lexus LC. I started to wonder at this point how a Porsche 911's frunk would do. Thankfully, as it turns out, I did a variation of this test back in 2013 with the previous-generation 911. And to think I was impressed by that.