Bank of Ayudhya plans 20 bln baht bonds in March

Bangkok, Feb 12 (Reuters) - Thailand's Bank of Ayudhya BAY.BK, 35 percent owned by a unit of General Electric (GE.N: Quote, Profile, Research, Stock Buzz), said on Tuesday it would sell bonds worth up to 20 billion baht ($608 million) to finance its expansion plans.

The bonds would be divided into three tranches of two, three and four years maturity and would be offered to both institutional and retail investors, Thailand's fifth largest bank said in a statement to the Securities Exchange and Commission.

($1=32.90 Baht) (Reporting by Arada Therdthammakun; Editing by Darren Schuettler)