Thai AIS plans 4 bln baht bond issue in April

BANGKOK, March 11 (Reuters) - Top Thai mobile firm Advanced Info Service PCL ADVA.BK (AIS) plans to sell 4 billion baht ($127 million) of bonds next month to finance debt repayment and a business expansion, an underwriter said on Tuesday.

The unsecured bonds, rated "AA" by Thailand's TRIS Rating, would have a maturity of five years and be offered to institutional investors and the public, an official at an underwriter told Reuters.

"The amount of the issuance may be higher than four billion baht, depending on demand," the official said.

Kasikornbank KBAN.BK and Siam Commercial Bank SCB.BK are the issue's underwriters.

AIS, one-fifth owned by Singapore Telecommunications Ltd (STEL.SI: Quote, Profile, Research, Stock Buzz), has said it plans to issue up to 10 billion baht of bonds to repay existing debt due to mature over the next two years.

AIS has outstanding bonds including <THAIS093A=> worth 2.5 billion baht due to mature in March 2009 and 4.5 billion baht of bonds <THAIS093B=> due in March 2009.

AIS shares dropped 2.05 percent to 97.50 baht on Monday, when the overall Thai stock market .SETI fell 1.82 percent. ($1=31.50 Baht) (Reporting by Arada Therdthammakun; Editing by Michael Battye)