September 17, 2018 / 2:24 PM / 3 months ago

Turkey's Isbank dollar bonds fall as Erdogan calls for investigation

LONDON, Sept 17 (Reuters) - Dollar-denominated bonds issued by Turkey’s Isbank fell across the curve on Monday after President Tayyip Erdogan said authorities should look into members of the opposition who serve on the bank’s board.

Isbank’s 2028 Eurobond fell over 1 cent in the dollar to 61.2 cents, according to Tradeweb, while the 2023 issue fell 0.8 cents to 70.1 cents.

The bank’s shares also tumbled after the Hurriyet newspaper quoted Erdogan questioning the 28 percent stake in Isbank held by the main opposition Republican People’s Party (CHP), and the party’s four seats on the board.

Reporting by Claire Milhench Editing by Matthew Mpoke Bigg

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