Toyota has paid off $4.2 billion in debt and $3.5 billion in assets, including its U.S. operations, to finance the production and expansion of its new Lexus SUVs, which are due for a global rollout in 2019.
The company’s U.K. operations paid off another $3 billion in bonds and a $1.9 billion equity stake in the plant, the company said Wednesday in a statement.
The $2.3 billion payment is part of a package of loans and other debt financing that Toyota has undertaken to finance its expansion into the luxury vehicle market, where the company is making the SUV the best-selling car in the U.R.S., according to data compiled by Bloomberg.
The deal includes the Toyota Advanced Manufacturing facility in Chattanooga, Tenn., as well as its factory in Mexico.
The Lexus brand is Toyota’s best-known product.
Its U.P.A. and S-Class vehicles have won acclaim for their stylish, sporty designs and fuel efficiency.
The U.N. has called on Toyota to make the SUVs available to consumers in a matter of months after Toyota’s global rollout, but Toyota is trying to keep costs down and the cost of production to a minimum by developing the vehicles in China.