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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 building just 650 Black Line RC coupes

Lexus has yet another limited edition line of cars on the way, following up on its special RC F and GS F models. The new edition is the RC F Sport Black Line, and it's actually not available on the V8 RC F. It's only for the turbocharged four-cylinder RC 300 and naturally aspirated V6 RC 350. What the package adds is either gloss black or silver paint accented by black chrome trim on the grille and windows rather than the standard shiny silver chrome. Other exterior details include matte black wheels and brake calipers in either orange or black. The black and orange theme continues inside, where orange stitching stands out against a black interior. The steering wheel is unique to the special edition and has black-stained wood trim. The special edition goes on sale this spring. Only 650 examples will be built. In addition to being available on either the four-cylinder or V6 models, it can be had with rear- or all-wheel-drive. The base prices start at $52,725 for the rear-drive four-cylinder and go up to $57,115 for the all-wheel-drive V6. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Lexus RC F Sport Black Line: New York 2018 View 13 Photos Image Credit: Live photos copyright 2018 Drew Phillips / Autoblog.com New York Auto Show Lexus Coupe Luxury lexus rc

Anything but boring | 2018 Lexus LC 500 First Drive

This is it, the headliner, the main event. After years of Lexus promising to make less-boring cars and instead giving us countless spindle-grille facelifts, the 2018 LC 500 is here as the brand's new North Star. It's the official halo to mark where Toyota's luxury brand is headed. This is the car that we hope can bring an end to the relentless mentions of boring cars - which are themselves needlessly boring. And besides, "not boring" is a terrible metric for evaluation. What Lexus is really trying to do is give its cars some spirit, to transcend the paint-by-numbers stereotype that made this brand the luxury juggernaut it is today. By that yardstick, the LC 500 is a success simply based on how it looks. It's beautiful in a way that we couldn't predict from the 2012 LF-LC concept that foreshadowed it. The kind of beauty where instead of reflexively grabbing your phone to take a picture, you just stand there and keep looking. And pictures don't do this car justice, anyway. They soften the edges and reduce the massive draw of the wide shoulders. In person, looking straight at the LC, the car looks like it's 80 percent hood. In the rest of the lineup, the trademark Lexus grille's execution ranges from caricature (RC) to botched nose job (LX). Here it pulls everything together. From every other angle, the LC has some feature that seems excessive – in the best way possible. The proportions of the LC give off a distinctively functional vibe, and it's genuine. That hood is so long because the 5.0-liter V8's center of mass sits three and a half inches behind the front axle. The extra space up front is mostly empty - Lexus uses high-strength steel cross-braces to shore up torsional rigidity instead of adding structure ahead of the front wheels, and the battery sits under the trunk floor. For all the visual excitement, the LC is still a conventional vehicle. Aside from some advancements in the LC 500h's hybrid powertain, the innovation here is of the iterative type. It's interesting, in that Lexus is betting on emotional appeal and driving character at a time when the future relevance of both is up for debate. If anything, the LC is a car for the current automotive world, not the one to come. And despite extensive use of aluminum and sheet-molded carbon, the LC 500 weighs in at a hefty 4,280 pounds. That's right in line with the BMW 6 Series and a good deal below the Batali-esque Mercedes-Benz S-Class Coupe's 4,700 pounds.