Yamaha USA Issues $150 Million in Bonds
Yamaha Motor Corp. USA, the Cypress-based importer of Yamaha motorcycles and other products, on Thursday issued $150 million in securities backed by dealers’ inventory loans.
The so-called “dealer financing receivables bonds” are a fairly new fund-raising tool. While all the major domestic automotive companies have sold at least one offering, Yamaha is the first Japanese-owned company to do so in the United States.
Yamaha’s certificates mature in five years and pay investors 6.25% interest.
Yamaha USA is owned by Yamaha Motor Co. Ltd. of Japan, a manufacturer and marketer of motorcycles, all-terrain vehicles, water vehicles, snowmobiles and outboard motors.