ECONOMY

Ministry rejects report of 74-mln-euro payment to PSI advisers

Greece unveiled details of payments to its two main debt restructuring advisers late on Wednesday to knock down a local website report that they had received 74 million euros (61.7 million pounds).

Greece averted the immediate threat of an uncontrolled default earlier this month after a large majority of private creditors agreed to a bond swap deal that cut its public debt by about 100 billion euros.

Holders of bonds with a face value of 197 billion euros either accepted voluntarily or were forced to take part in the deal. Up to 9 billion euros of additional bonds could sign up to the deal when a second deadline expires on Friday.

The finance ministry said Lazard Freres is being paid 0.015 percent of the face amount of the bonds swapped, with its compensation capped at 25 million euros.

Law firm Cleary Gottlieb Steen