Thai Glow plans 7-, 10-yr bonds sale this month

BANGKOK, May 8 (Reuters) - Thai power producer Glow Energy PCL GLOW.BK will sell bonds in two tranches worth up to 6 billion baht ($189 million) to fund construction of a power plant and other projects, fund managers said on Thursday.

The bonds, rated "A" by Thailand's TRIS Rating, would be divided into 7- and 10-year maturities and be offered to institutional and cash-rich investors later this month, two fund managers, who declined to be identified, told Reuters.

"The firm has an initial plan to sell 3 billion baht, but the amount has yet to be finalised," one of the fund managers said, adding it had scheduled bookbuilding for May 22.

The coupon rates of the bonds, underwritten by Kasikornbank KBAN.BK, were likely to have a spread of around 80-100 basis points over comparable government bonds, the fund managers said. ($1=31.80 Baht) (Reporting by Arada Therdthammakun; Editing by Ed Cropley)