October 16, 2019 / 11:30 AM / a month ago

Turkey's Halkbank bonds bashed by U.S. charges

FILE PHOTO: A customer uses an automated teller machine at a branch of Halkbank in Istanbul August 15, 2014. REUTERS/Osman Orsal

LONDON (Reuters) - Dollar bonds issued by Turkey’s Halkbank (HALKB.IS) fell on Wednesday, with the 2021 issue slumping 4.7 cents in the dollar, after U.S. prosecutors charged the state-owned lender with taking part in a scheme to evade U.S. sanctions on Iran.

The 2021 issue XS1188073081=TE dropped to 89.8 cents in the dollar, while the 2020 issue XS0882347072=TE lost 3.6 cents to 95.0 cents in the dollar, Tradeweb data showed.

Tuesday’s U.S. indictment alleged Turkey’s second-largest state bank conducted fraud, money laundering, and other sanctions offences. Halkbank had not yet commented on Wednesday.

Halkbank shares were also down just over 4% have dropped as much as 7% in opening moves in Istanbul.

Reporting by Tom Arnold; editing by Marc Jones

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