Thailand's MBK sets bond coupon at 6.04 pct

BANGKOK, June 25 (Reuters) - Thai property developer MBK PCL MBK.BK has set a coupon rate of 6.04 percent for a 2 billion baht ($60 million) issue of 3-year bonds, fund managers said on Wednesday.

The coupon was set at the high end of a 6.00-6.04 percent range and offered 85 basis points over comparable government bonds, two fund managers close to the deal told Reuters.

At 0208 GMT, benchmark 3-year government bonds were yielding 5.14 percent, down from Tuesday's close of 5.21 percent.

The unsecured bonds, rated "AA-" by Thailand's TRIS Rating, would be issued to institutional investors and other investors on July 3, they said.

Siam Commercial Bank SCB.BK and Thanachart Securities are the underwriters.

MBK shares closed unchanged at 70 baht on Tuesday, when the main SET index .SETI ended down 0.67 percent. ($1=33.49 Baht) (Reporting by Arada Therdthammakun; Editing by Ed Cropley)