On August 30th, Toyota Financial Services announced the IPO of its branch in Brazil – Banco Toyota. The deal raised approximately $95 million dollars.
The operation ended on August 4th and represented the first time Banco Toyota sought the capital market to raise resources.
Toyota Financial Services was established in 1982 to offer credit and insurance policies to the owners of the vehicles produced by the Japanese brand. Banco Toyota has been operating in Brazil since 1999.
The Brazilian law firm Machado, Meyer, Sendacz e Opice counseled Banco Toyota. The deal was coordinated by Banco Votorantim S.A. and Banco Itau BBA S.A., which received counseling from Cascione, Pulino, Boulos & Santos Advogados and from their in-house lawyers.