ECONOMY

Greece set to pay another holdout bond, worth 540 million euros, on Friday

Greece is to pay in full a privately-held bond worth 540 million euros that matures on Friday, making it the second such payout in 10 days.

Naftemporiki newspaper reported on Monday that the bond was issued under foreign law in Swiss Francs and has a coupon rate of 2.125 percent.

On June 25, Greece paid out on another privately-held bond worth 790 million euros, prompting an argument in Parliament between Independent Greeks leader Panos Kammenos and Finance Minister Yannis Stournaras after the latter refused to give details about who held the paper and whether it had been paid.

Following the restructuring of Greek debt in March 2012, also known as the PSI, Athens has paid out in full on bonds in the hands of the so-called holdouts.

Creditors held back a total of 6.6 billion euros from the restructuring process last year.