(Bloomberg) ? Bawag PSK Bank, the Austrian bank sued by creditors and investors of Refco Inc. over alleged accounting fraud, plans to sign a settlement agreement in coming days.

"The final talks for a settlement in the US are intense and promising," Bawag spokesman Thomas Heimhofer said in a telephone interview last week. Heimhofer declined to comment on the details of the settlement.

Der Standard newspaper on May 17 reported that Bawag agreed to pay a total of $675 million. The bank will pay $75 million now and the rest in instalments, the report said. About half of the remaining sum goes to creditors of Refco, while the other half would go to the US attorney, who would use the funds for possible class-action lawsuits.