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Liquidity Facilities and Letters of Credit
9 Months Ended
Dec. 31, 2018
Line Of Credit Facility [Abstract]  
Liquidity Facilities and Letters of Credit

Note 10 – Liquidity Facilities and Letters of Credit

For additional liquidity purposes, we maintain credit facilities as described below:

364 Day Credit Agreement, Three Year Credit Agreement and Five Year Credit Agreement

In November 2018, TMCC, Toyota Credit de Puerto Rico Corp. (“TCPR”) and other Toyota affiliates entered into a $5.0 billion 364 day syndicated bank credit facility, a $5.0 billion three year syndicated bank credit facility and a $5.0 billion five year syndicated bank credit facility, expiring in fiscal 2020, 2022, and 2024, respectively.

The ability to make draws is subject to covenants and conditions customary in transactions of this nature, including negative pledge provisions, cross-default provisions and limitations on certain consolidations, mergers and sales of assets.  These agreements may be used for general corporate purposes and had no amounts outstanding as of December 31, 2018 and March 31, 2018.  We are currently in compliance with the covenants and conditions of the credit agreements described above.

Other Unsecured Credit Agreements

TMCC has entered into additional unsecured credit facilities with various banks.  As of December 31, 2018, TMCC had committed bank credit facilities totaling $5.5 billion of which $150 million, $2.6 billion, $275 million, and $2.5 billion mature in fiscal 2019, 2020, 2021, and 2022, respectively.

These credit agreements contain covenants and conditions customary in transactions of this nature, including negative pledge provisions, cross-default provisions and limitations on certain consolidations, mergers and sales of assets.  These credit facilities had no amounts outstanding as of December 31, 2018 and March 31, 2018. We are currently in compliance with the covenants and conditions of the credit agreements described above.

In December 2018, TMCC entered into a $5.0 billion three year revolving credit facility with Toyota Motor Sales, U.S.A., Inc. (“TMS”), an affiliate, expiring in fiscal 2022.  This credit facility may be used for general corporate purposes and had no amount outstanding as of December 31, 2018.