Bloomberg News

Akbank Hires UBS, RBS for Meetings as Part of Bond Sale Plan

February 17, 2012

(Updates with shares in the third paragraph.)

Feb. 17 (Bloomberg) -- Akbank TAS, the Turkish bank part- owned by Citigroup Inc., hired UBS AG and Royal Bank of Scotland Group Plc to arrange investor meetings in Switzerland after getting regulator approval to sell bonds totaling $1.5 billion.

Akbank got permission from the Capital Markets Board to offer the bonds denominated in dollars and/or other foreign currencies, the bank said in a statement to the Istanbul Stock Exchange today. The regulator’s approval is valid for one year.

Akbank rose 1.1 percent to 7.10 liras at 5:30 p.m. on the Istanbul Stock Exchange today, extending this week’s gains to 4.1 percent. Akbank’s largest shareholder is Haci Omer Sabanci Holding AS, Turkey’s second-biggest group of companies.

--Editor: Mark Bentley

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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