Krungthai Card to issue 1.5-year bonds next week

BANGKOK, Aug 8 (Reuters) - Krungthai Card PCL KTC.BK (KTC), Thailand's largest credit card issuer, will issue 2.5-3.0 billion baht ($74-89 million) of bonds next week to refinance debt and for working capital, two fund managers said on Friday.

The bonds, rated "A-" by Thailand's TRIS Rating, would have a maturity of 1.5 years with a coupon rate of 4.89 percent and be offered to institutional investors next week, the fund managers close to the deal told Reuters.

Benchmark 1.5-year government bonds were yielding 4.00 percent in the secondary market at 0321 GMT.

BT Securities is the issue's underwriter.

Krungthai Card, 49 percent-owned by top state bank Krung Thai Bank KTB.BK, has said it will issue 12 billion baht of bonds by the end of this year to refinance debt and expand loans.

At 0326 GMT, Krungthai Card shares were unchanged at 20.30 baht, while the main stock index .SETI was down 0.83 percent. ($1=33.59 Baht) (Reporting by Arada Therdthammakun; Editing by Ed Cropley)