Greece and its private creditors said they expect to complete a debt-swap accord in this week, after bondholders signaled they would accept European government demands for lower interest rates.
The sides are "close" to completing a voluntary exchange within a framework outlined by Luxembourg Prime Minister Jean-Claude Juncker, the Institute of International Finance, negotiating on behalf of private creditors, said in an e-mailed statement in Athens yesterday.
Creditors are prepared to accept an average coupon of as low as 3.6 percent on new 30-year bonds, said a person familiar with the talks, who declined to be identified because a final deal hasn't been struck yet.
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