Ministry puts record straight on PSI advisers' fees

The Finance Ministry published details of payments made to its two main debt restructuring advisers late on Wednesday, rebuffing a report on the website of weekly newspaper Proto Thema that they had been paid 74 million euros.

The ministry said Lazard investment advisers were being paid 0.015 percent of the face value of the bonds swapped, with its compensation capped at 25 million euros.

Law firm Cleary Gottlieb Steen & Hamilton, Greece’s legal adviser, has been paid about 6.52 million euros so far, it added.

“The 74 million-euro total mentioned in the report is totally inaccurate,” the ministry said.  

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