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Toyota leasing unit in Thailand plans bond sale late Feb
Toyota leasing unit in Thailand plans bond sale late Feb
The Thai leasing unit of Toyota Motor Corp plans to sell 2-3 billion baht ($57-86 million) of bonds later this month for lending, Reuters quoted fund managers and an underwriter as saying Wednesday.

The secured bonds, to be issued by Toyota Leasing (Thailand) Co, would be offered to institutional investors and were expected to have up to maturities of up to three years, an official at the underwriter told Reuters.

The size of the bonds would be confirmed later next week, the official said, adding that the firm had scheduled book-building for the third week of February.

Benchmark two-year government bonds were yielding 1.82 percent at 0938 GMT and three-year bonds were yielding 2.13 percent.

Bangkok Bank and Kasikornbank are the 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.

In November, the company sold 1.2 billion baht of 2-year bonds with a coupon rate of 4.11 percent.

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