Greece Moves Closer to Debt-Swap Accord With Private Investors

Greece and its private creditors are closing in on a debt swap accord that’s crucial to cutting the country’s borrowings and allowing it to receive a second round of international aid.

“There’s been significant progress,” Hans Humes, president of Greylock Capital Management and a member of the creditor committee negotiating the deal with the government, said in a Bloomberg Television interview today. “There’s broad agreement about the coupons and structural elements.”