Greece’s New Bonds Yield More Than Portugal’s Securities

Greek government bonds due to be issued after the nation’s debt swap is completed were priced at less than 30 percent of face amount, signaling concern the country will struggle to repay its revised obligations.

While the debt swap is “a big step forward, it’s not totally out of the woods yet,” said Mohit Kumar, the head of European fixed-income strategy at Deutsche Bank AG in London. “There is a premium still demanded for Greece.”