Toyota's U.S. unit gets syndicated loan: report

NEW YORK (Reuters) - Toyota Motor Credit Corp, a U.S. subsidiary of Toyota Motor Corp, has received a 30 billion yen syndicated loan from Mitsubishi UFJ Financial Group Inc and six other Japanese banks that will be used for its auto financing business, according to a report by Nikkei Business News on Wednesday.

The report on Nikkei's website said the unit has issued bonds in the United States and other countries, but says the yen-denominated loan is a more cost-efficient way to raise funds even there is foreign exchange risk. The story said the syndicate included trust banks and regional banks.

$1=105.45 yen