CORRECTED - Toyota Thai unit sets 2-yr bond coupon at 5.70 percent


Corrects headline to 2-yr bond coupon from 3-yr bond coupon

A corrected repeat follows:

BANGKOK, July 27 (Reuters) - The Thai leasing unit of Toyota Motor Corp has set a final coupon of 5.70 percent for a 2 billion baht issue of 2-year bonds due in early August, an underwriter said on Thursday.

The coupon was set at the high end of a 5.66-5.70 percent range and offered 35 basis points over comparable government bonds, the underwriter said.

The secured bonds, issued by Toyota Leasing (Thailand) Co, would be issued to institutional investors on August 2, the underwriter told Reuters.

Two-year government bonds yielded 5.33 percent in the secondary market on Thursday.

Bangkok Bank and Hongkong and Shanghai Banking Corp , Bangkok branch, are the underwriters.

The bonds, rated "AAA" by Thailand's TRIS Rating, are part of a previously announced medium-term note programme worth up to 30 billion baht, of which 11 billion baht was sold over the last two years.

The company has said the programme will be guaranteed by Toyota Motor Finance (Netherlands), which has been rated "AAA" by Standard and Poor's Ratings Services and "Aaa" by Moody's Investors Service. ($1=37.94 Baht)



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