March 29, 2017 / 8:49 AM / 6 months ago

Turkey's Halkbank bonds fall as much as 0.7 cent after dep CEO arrest

LONDON (Reuters) - Dollar bonds from Turkey’s Halkbank fell as much as 0.7 cent across the curve on Wednesday, extending losses after the company’s deputy chief executive was charged in New York with participating in a scheme violating sanctions on Iran.

Bonds maturing 2021 and 2020 fell just over 0.7 cents in the dollar, according to Tradeweb data XS143983854=TE XS088234707=TE, hitting six-week lows. The 2019 issue XS106938385=TE slipped 0.66 cent.

Mehmet Hakan Atilla is accused of conspiring with wealthy Turkish gold trader Reza Zarrab to conduct hundreds of millions of dollars of illegal transactions through U.S. banks on behalf of Iran’s government and other entities in that country.

He had been in New York as part of a investor roadshow before the bank’s planned sale of new dollar bonds.

Reporting by Sujata Rao; editing by Mike Dolan

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