Toyota Auto Trust Files 8-K on Definitive Agreement

TL;DR

Toyota Auto Trust 2025-D filed an 8-K for a material agreement. Auto loan ABS involved.

AI Summary

Toyota Auto Receivables 2025-D Owner Trust filed an 8-K on October 17, 2025, reporting the entry into a material definitive agreement and other events. The filing pertains to asset-backed securities related to auto loans, with Toyota Auto Finance Receivables LLC as a key entity involved.

Why It Matters

This filing indicates a significant transaction or event related to Toyota's auto loan securitization, which could impact investors in these asset-backed securities.

Risk Assessment

Risk Level: low — The filing is a standard 8-K reporting a definitive agreement and other events, typical for securitization trusts, and does not inherently signal distress.

Key Players & Entities

• Toyota Auto Receivables 2025-D Owner Trust (company) — Filer of the 8-K
• Toyota Auto Finance Receivables LLC (company) — Related entity involved in auto loans
• 0000929638-25-003924 (document_id) — Accession number for the filing
• 20251017 (date) — Filing date
• 20251015 (date) — Period of report

FAQ

Key Financial Figures

• $384,400,000 — aggregate original principal amount of $384,400,000; (ii) Class A-2a Asset-Backed Notes in
• $395,000,000 — aggregate original principal amount of $395,000,000; (iii) Class A-2b Asset-Backed Notes in
• $277,000,000 — aggregate original principal amount of $277,000,000; (iv) Class A-3 Asset-Backed Notes in t
• $672,000,000 — aggregate original principal amount of $672,000,000; (v) Class A-4 Asset-Backed Notes in th
• $124,100,000 — aggregate original principal amount of $124,100,000; and (vi) Class B Asset-Backed Notes in
• $47,500,000 — aggregate original principal amount of $47,500,000 (collectively, the "Notes") on or about

Filing Documents

• taot2025-d_form8k.htm (8-K) — 35KB
• exhibit1-1.htm (EX-1.1) — 166KB
• exhibit4-1.htm (EX-4.1) — 334KB
• exhibit4-2.htm (EX-4.2) — 664KB
• exhibit4-3.htm (EX-4.3) — 669KB
• exhibit4-4.htm (EX-4.4) — 139KB
• exhibit4-5.htm (EX-4.5) — 119KB
• exhibit4-6.htm (EX-4.6) — 91KB
• exhibit4-7.htm (EX-4.7) — 179KB
• exhibit36-1.htm (EX-36.1) — 6KB
• 0000929638-25-003924.txt ( ) — 2404KB

01

Item 1.01 Entry into a Material Definitive Agreement . On October 15, 2025, Toyota Auto Finance Receivables LLC ("TAFR LLC") and Toyota Motor Credit Corporation ("TMCC") entered into an Underwriting Agreement with J.P. Morgan Securities LLC, CIBC World Markets Corp., Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC, acting on behalf of themselves and as representatives of the several underwriters named therein, for the sale of certain notes of Toyota Auto Receivables 2025-D Owner Trust, a Delaware statutory trust (the "Trust"). The Trust will issue the following classes of notes in the following amounts: (i) Class A-1 Asset-Backed Notes in the aggregate original principal amount of $384,400,000; (ii) Class A-2a Asset-Backed Notes in the aggregate original principal amount of $395,000,000; (iii) Class A-2b Asset-Backed Notes in the aggregate original principal amount of $277,000,000; (iv) Class A-3 Asset-Backed Notes in the aggregate original principal amount of $672,000,000; (v) Class A-4 Asset-Backed Notes in the aggregate original principal amount of $124,100,000; and (vi) Class B Asset-Backed Notes in the aggregate original principal amount of $47,500,000 (collectively, the "Notes") on or about October 23, 2025 (the "Closing Date"). Attached as Exhibit 1.1 is the Underwriting Agreement.

01

Item 8.01 Other Events . On the Closing Date, (a) TMCC, as seller, and TAFR LLC, as purchaser, will enter into a Receivables Purchase Agreement, to be dated as of the Closing Date (the "Receivables Purchase Agreement"), pursuant to which TMCC will transfer certain motor vehicle retail installment sales contracts (the "Receivables") to TAFR LLC; (b) TAFR LLC, as seller, TMCC, as servicer (in such capacity, the "Servicer") and sponsor, and the Trust, as issuer, will enter into a Sale and Servicing Agreement, to be dated as of the Closing Date (the "Sale and Servicing Agreement"), pursuant to which TAFR LLC will transfer the Receivables to the Trust and the Receivables will be serviced by the Servicer; (c) TAFR LLC and Wilmington Trust, National Association, as owner trustee (the "Owner Trustee"), will enter into an amended and restated agreement of the Trust, to be dated as of the Closing Date (the "Amended and Restated Trust Agreement"); (d) the Trust, TMCC, as Servicer and administrator (in such capacity, the "Administrator"), and Clayton Fixed Income Services LLC, as asset representations reviewer (the "Asset Representations Reviewer"), will enter into an Asset Representations Review Agreement, to be dated as of the Closing Date (the "Asset Representations Review Agreement"), relating to the review of certain representations relating to the Receivables; (e) the Trust, as issuer, and Citibank, N.A., as indenture trustee (in such capacity, the "Indenture Trustee") and securities intermediary (in such capacity, the "Securities Intermediary"), will enter into an Indenture, to be dated as of the Closing Date (the "Indenture"), pursuant to which the Trust will issue the Notes; (f) the Administrator, the Trust and the Indenture Trustee will enter into an Administration Agreement, to be dated as of the Closing Date (the "Administration Agreement"), relating to the provision by the Administrator of certain services for the Trust; and (g) TAFR LLC, as pledgor, the Indent

Financial Statements and Exhibits

Financial Statements and Exhibits . (a) Not applicable. (b) Not applicable. (c) Not applicable. (d) Exhibits: Exhibit No. Description 1.1 Underwriting Agreement, dated October 15, 2025, among TAFR LLC, TMCC, and J.P. Morgan Securities LLC, CIBC World Markets Corp., Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC, acting on behalf of themselves and as representatives of the several underwriters named in the agreement. 4.1 Amended and Restated Trust Agreement, to be dated as of October 23, 2025, between TAFR LLC and Wilmington Trust, National Association, as 4.2 Indenture, to be dated as of October 23, 2025, among the Trust, the Indenture Trustee and the Securities Intermediary. 4.3 Sale and Servicing Agreement, to be dated as of October 23, 2025, among TAFR LLC, as seller, TMCC, as servicer and sponsor, and the Trust, as issuer. 4.4 Receivables Purchase Agreement, to be dated as of October 23, 2025, between TAFR LLC, as purchaser, and TMCC, as seller. 4.5 Administration Agreement, to be dated as of October 23, 2025, among the Administrator, the Trust, as issuer, and the Indenture Trustee. 4.6 Securities Account Control Agreement, to be dated as of October 23, 2025, among TAFR LLC, as pledgor, the Indenture Trustee, as secured party, and the Securities Intermediary. 4.7 Asset Representations Review Agreement, to be dated as of October 23, 2025, among the Trust, as issuer, TMCC, as Servicer and Administrator, and the Asset Representations Reviewer. 36.1 Depositor Certification, dated October 15, 2025, for shelf offerings of asset-backed securities.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TOYOTA AUTO FINANCE RECEIVABLES LLC By: /s/ Stephen Bishop Name: Stephen Bishop Title: Secretary Date: October 17, 2025

View Full Filing

View this 8-K filing on SEC EDGAR