Photo: A Toyota Prius during the 2023 New York International Auto Show in New York on April 6, 2023. A Toyota Prius during the 2023 New York International Auto Show in New York on April 6, 2023.

For the first time in two years, Toyota Motor Corp. sold socially conscious debt denominated in dollars as the Japanese carmaker looks to boost its production of electric vehicles (EVs) to compete with Tesla Inc.

The automaker priced $1.5 billion of sustainability bonds in three parts, according to a person with knowledge of the matter. The longest portion of the offering, a 10-year security, yields 1.08 percentage points above Treasuries, after initial discussions of around 1.35 percentage points, said the person, who asked not to be identified as the details are private.

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