Toyota Compañía Financiera de Argentina SA will offer negotiable bonds worth 250 million Argentine pesos, the company said in a securities filing.

The two-year class 23 series bonds, which are expandable by up to 395 million pesos, carry a variable interest rate.

The issuance is part of the firm's global bond program for up to 1.40 billion pesos or its equivalent in other currencies.

The auction will take place June 5 and the bonds will be issued on June 8, the company noted.

Santander Río and Banco Galicia will be placing agents for the offering.

As of May 29, US$1 was equivalent to 15.99 Argentine pesos.