Bangkok Bank plans bonds issue in Q2-Q3

BANGKOK, May 15 (Reuters) - Bangkok Bank BBL.BK, Thailand's biggest lender, said on Thursday it would issue the first lot of planned bonds worth up to 150 billion baht ($4.62 billion) by the third quarter of this year to support future lending.

The unsecured bonds would be sold in tranches with long-term maturities, executive vice president Kulathida Sivayathorn told Reuters.

"Previously, we got shareholder approval to issue up to 150 billion baht of bonds. We will launch in phases and the first lot should come between the second quarter or the third quarter," Kulathida said.

The amount and maturity of the first lot's bonds would be concluded over the next few months, a bank executive who declined to be named said.

"The issue is an option for our funding. It isn't subordinated debt, we don't need to boost capital base. The plan is to prepare for future needs if domestic investment expand," Kulathida said.

Earlier this month, two major Thai banks such as Siam Commercial Bank SCB.BK and Krung Thai Bank KTB.BK sold a combined 46 billion baht of 10-year subordinated bonds to boost their capital base in a period of low interest rates.

On Wednesday, Bangkok Bank shares closed up 0.75 percent at 135 baht, while the main Thai index .SETI rose 1.15 percent. ($1=32.45 Baht) (Reporting by Arada Therdthammakun; Editing by Darren Schuettler)