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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 flagship spotted testing in the desert

Most of the Lexus line-up has been updated with the company's unique design language. Whether you love it or hate it, most of the company's cars are impossible to confuse for something else. But during this time of transformation, the flagship LS sedan has lingered with a very mild, sedate shape. These spy photos show the LS has gone under the knife. That being said, we can't really say how different the LS is going to look for sure because Lexus has employed some impressive camouflage. If we didn't know better we'd say it looks like the LS is going retro with round reflector headlights and some rear tailfins. But we do know better, so don't look for those features to make it to the production model. What we can make out is the lower half of the Lexus "spindle" grille. The camouflage wrapping is pressed up against a trapezoidal shape at the front reminiscent of what we've seen on other Lexus models. It looks like a large version of it as well. This Lexus seems to still be quite long, and based on where the rear passenger is in the photos, it still seems to have loads of space for rear passengers. It's difficult to tell if this is a long wheelbase model or a standard one, but if it is long wheelbase, it's proportioned quite nicely. It looks like there will be quite a large C-pillar on this LS too. Our spy photographer expects this car to be revealed next year as a 2018 model available with a V8 and possibly a hydrogen powertrain. So if you want one of the last low-key LS models, you'll want to get the current version because its days are numbered. Related Video:

Lexus previews production NX crossover ahead of Beijing debut

Every luxury automaker and its sister company is getting into the compact crossover game these days. Mercedes has the GLK and even smaller GLA, Audi has the Q3, BMW the X1... even Porsche is getting in on the action with the new Macan. Lincoln has the new MKC, and it won't be long before Infiniti and Acura launch challengers of their own. But before they do, Lexus will roll out its new NX crossover.
Previewed by the LF-NX concepts first in Frankfurt and then in Tokyo, leaked in a corporate presentation and spied testing out on the open road, Lexus is slated to present the production NX at the Beijing Motor Show later this month. But to keep us on our toes, the Japanese luxury automaker has released this teaser image and brief statement.
From the looks of it, it appears that Lexus has hardly toned down for production the anime-worthy sharp creases that made the LF-NX stand out on the show floor, with the brand's signature spindle grille featuring prominently once again. Though we'd guess the finished product will be toned down somewhat. Toyota's luxury division also says "the NX will set new standards for future models in the line-up," meaning that we can expect the design theme to carry through to more models to follow.