The Thai financial arm of Holcim Group  has set coupons for a bond issue worth 8 billion baht ($194m) expected next week, a fund manager said on Wednesday.  The secured bonds, the first issued by Holcim Capital (Thailand), would be divided into three tranches, with the 3-year issue carrying a coupon of 6.12 per cent, the fund manager close to the deal told Reuters.  The second tranche of 5-year bonds would have a coupon of 6.48 percent and the last tranche of 7-year bonds would have a coupon of 6.69 per cent, the fund manager said.  "All the issues were given coupons at the top end of their coupon ranges," said the fund manager.  The bonds, rated "AA(tha)" by Thailand’s Fitch Ratings, will be guaranteed by Swiss construction company Holcim Group.  Standard Chartered Bank (Thai) and Bank of Ayudhya  will underwrite the issue.  One underwriter said the funds raised would be used to refinance debt at Thai cement maker Siam City Cement , which is 32 per cent owned by Holcim Group. Published under Cement News