Turkey-based Akbank TAS has been granted approval by the capital markets board for the issuance, domestically, of bills and/or bonds of up to 10 billion Turkish lira.

The securities may be issued in varying maturities for public offering and/or for sale without public offering.

In this context, Akbank issued a bill with a nominal value of 158 million lira and a term of 114 days to be sold to qualified investors. The bookbuilding has been completed, according to the bank.

Akbank also gained approval for the issuance, or issuances, of covered bonds up to €1 billion or its equivalent in any foreign currency or lira.

As of May 26, US$1 was equivalent to 3.58 Turkish lira.