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Citigroup Plans More Islamic Bond Sales From Turkey

Citigroup Inc. plans to arrange more sales of Islamic bonds, or sukuk, from Turkey after managing a $100 million issue for Kuveyt Turk Katilim Bankasi AS, an executive at the company said.

Citigroup is having talks with other potential sellers of Shariah-compliant debt in the country, said Hulusi Horozoglu, director of global Islamic banking at Citigroup, in an e-mailed response to questions. He said there was “significant appetite” from investors for the Kuveyt Turk sale last month.