Toyota Thai unit plans 3 bln baht bonds in July

BANGKOK, June 25 (Reuters) - The Thai leasing unit of Toyota Motor Corp (7203.T) plans to sell up to 3 billion baht ($90 million) of bonds next month to raise funds for lending, fund managers said on Wednesday.

The secured bonds, to be issued by Toyota Leasing (Thailand) Co, would be offered to institutional investors and were expected to have a maturity of 1-2 years, two fund managers and a bank official at an underwriter told Reuters.

Benchmark one-year government bonds were yielding 4.19 percent at 0306 GMT and two-year bonds were yielding 5.00 percent.

Thailand's top underwriter, Kasikornbank, KBAN.BK and Bangkok Bank BBL.BK are the issue's underwriters.

The bonds, to be guaranteed by Toyota Motor Finance (Netherlands), are rated "AAA" by Standard and Poor's Ratings Services and "Aaa" by Moody's Investors Service. ($1=33.49 Baht) (Reporting by Arada Therdthammakun; Editing by Ed Cropley)