Cargill plans to issue baht-denominated bonds

BANGKOK Aug 5 (Reuters) - U.S. agribusiness giant Cargill Inc [CARG.UL] said on Tuesday it planned a bond issue of up to 3.5 billion baht ($104 million) for general business purposes.

The unsecured bonds, rated "AAA(tha)" by Thailand's Fitch Ratings, would be offered to institutional investors with a fixed coupon rate, the firm told the Securities Exchange and Commission.

"The firm will hold a roadshow tomorrow," a fund manager familiar with the deal told Reuters, adding the firm had yet to confirm the issue date or the bond's maturity.

Citicorp Securities (Thailand) is the issue's lead arranger.

Cargill is among 15 foreign institutions to have received Finance Ministry approval to issue baht-denominated bonds worth a combined 52.5 billion baht by December.

Last month, Export-Import Bank of Korea sold a two-tranche bond issue worth a combined 3.5 billion baht, with 3-year issue carrying a coupon rate of 5.39 percent and a 10-year tranche having a 6.28 percent coupon. ($1=33.60 Baht) (Reporting by Arada Therdthammakun; Editing by Ed Cropley)