December 7, 2018 / 8:26 AM / a year ago

Turkey's Halkbank dollar bonds rise after U.S. prosecutor drops appeal

LONDON, Dec 7 (Reuters) - Dollar-denominated bonds of Turkey's Halkbank jumped on Friday following reports that the New York prosecutor's office has withdrawn an appeal to extend the sentence of a former executive at the Turkish state-owned lender.

The 2021 issue jumped 0.74 cents to 84.79 cents, according to Refinitiv Eikon data.

The fate of Halkbank executive Hakan Atilla, who was sentenced to 32 months in prison in May for helping Iran evade U.S. sanctions, was a flashpoint between NATO allies Ankara and Washington.

"It is good news that the U.S. prosecutor's office is not appealing to have the sentence prolonged or extended – it's a sign of improving relations between Turkey and the U.S.," said SEB's Per Hammarlund. (Reporting by Karin Strohecker, additional reporting by Aaron Saldanha in Bangalore; Editing by Jamie McGeever)

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