February 5, 2019 / 1:55 PM / 12 days ago

Turkey's Isbank dollar bonds rally after Erdogan says treasury to take over stake

LONDON, Feb 5 (Reuters) - The dollar bonds of Turkey's Isbank rallied on Tuesday after President Tayyip Erdogan said the country's Treasury would take over a 28 percent stake in the bank from the main opposition Republican People's Party (CHP).

Isbank is Turkey's largest listed bank and its 2022 bond jumped 1 cent to trade at 91.013 cents in the dollar, its highest level in 7-1/2 months, Tradeweb data showed. (Reporting by Karin Strohecker; editing by Marc Jones)

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