NEW YORK — Chase Manhattan Corp. has agreed to acquire the corporate trust business of Japan’s Dai-Ichi Kangyo Trust Bank that focuses on business in the United States.

Chase Manhattan Bank would take over the trust administration of a $5 billion portfolio containing outstanding corporate debt, municipal revenue bonds, euro bonds, commercial paper, and escrows from Dai-Ichi Kangyo Trust Bank of New York. The price of the deal, which is set to close in the first quarter, was not disclosed.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.