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Oversea-Chinese Banking Corp., hired Credit Suisse Group AG, Morgan Stanley and Goldman Sachs Group Inc. to help it sell as much as US$500 million ($700 million) of subordinated bonds, according to a person familiar with the matter.
Singapore-based OCBC, which on Oct 28 said its third-quarter profit rose 12% to $450 million, agreed last month to buy ING Groep NV’s private banking assets in Asia for US$1.46 billion ($2.04 billion) in cash.
OCBC spokeswoman Koh Ching Ching declined to comment.
