Deals of the Month: Toyota

Toyota Motor Credit Corporation, the US financing arm of Japanese carmaker Toyota, launched the second-largest-ever Swiss franc corporate deal in January with CHF1.25 billion of fixed rate notes due February 2012.Coming at a time of global crisis for carmakers, demand for the deal took bookrunners BNP Paribas and Credit Suisse by surprise. The orderbook was up to CHF1.3 billion within the first 90 minutes, way in excess of the expected CHF500 million of demand, says syndicate manager Dennis