SINGAPORE: Singapore's second largest lender, OCBC Bank, is reportedly raising at least half a billion US dollars through a Tier 2 capital issue.

Reports said on Wednesday that the fundraising is meant to raise the bank's capital adequacy.

Credit Suisse, Morgan Stanley and Goldman Sachs have also been reportedly appointed for the debt issue.

When contacted by Channel NewsAsia, OCBC declined to confirm the reports.

Last month, the bank acquired the Asian private banking assets of Dutch lender ING for nearly US$1.5 billion.


- CNA/so