Greek Default Risk Returns as Bond Maturity Nears

Two months after forcing through the biggest-ever sovereign bond restructuring, Greece once again faces the prospect of becoming the first developed nation to default on its debt.

Greece officials must decide by May 15 if they’re going to repay the 436 million euros ($555 million) due on a floating-rate note issued a decade ago, or default. Greece made today’s interest payment on 20 billion yen ($250 million) of 4.5 percent notes maturing in 2016, Petros Christodoulou, the head of the Greek Debt Management Agency in Athens, said in an e-mail.