Greece Repays Samurai Bonds as Deal Reached With Creditors
ByThe Greek government repaid Samurai notes maturing Tuesday, according to bond agent Mizuho Financial Group Inc., in a first sign the nation is honoring its obligations after reaching a deal with creditors.
Masako Shiono, a spokeswoman for Mizuho, confirmed the repayment. The outstanding amount was 11.67 billion yen ($95 million), according to data compiled by Bloomberg. The price of the securities fell to 44.73 yen against par on July 10, compared with 80.35 yen on June 1, the data show.
Greece chose to pay private investors while missing a further payment to the International Monetary Fund due Monday, increasing arrears to the global lender of last resort to about 2 billion euros ($2.2 billion). While the IMF will wait to get its money back, institutional investors wouldn’t, and a default on the Samurai bond would have complicated the repayment schedule, according to Daiwa Securities Group Inc…
Greece Repays Samurai Bonds as Deal Reached With Creditors
