Euro zone finance ministers reach debt relief deal on Greece

LUXEMBOURG (Reuters) - Euro zone finance ministers reached a deal on debt relief for Greece, two euro zone officials said on Friday.

"We have a deal," one official involved in the negotiations said, adding it would be credible for markets. A second official confirmed the ministers had reached a deal.

Officials said the debt relief involved an extension of maturities and grace periods on loans granted to Greece under the second bailout by 10 years.

Greece would also get a 15 billion euro (£13.1 billion) last disbursement to help it build a cash buffer that would make it more independent of market borrowing for long after it exits the bailout on Aug. 20.

(Reporting By Renee Maltezou and Francesco Guarascio)