Greece paid the interest due today on 20 billion yen ($250 million) of international bonds in yen, according to Petros Christodoulou, the head of the Greek Debt Management Agency in Athens.
Europe’s most indebted nation didn’t offer to swap the 4.5 percent bonds due 2016 when it exchanged more than 200 billion euros ($260 billion) of bonds for new securities with a lower face value and longer maturities, Christodoulou said in an e-mail. The notes are among bonds issued under foreign rather than Greek law that sidestepped losses imposed under the biggest-ever sovereign bond restructuring, completed last month.
Greek political leaders are seeking the support needed to form a coalition government after Greek voters flocked to anti-bailout parties on May 6, calling into question the country’s ability to impose the measures needed to guarantee its future in the euro. Greece’s financing costs rose for the first time this year today at a 1.3 billion-euro auction of treasury bills.