Greece makes €148m repayment on Samurai bonds

Greece made a €148m (£104m, $162.87m) repayment on its 20-year old Samurai bond which matured on 14 July to private creditors in Japan.

"The payment was made, the funds should be credited in the bondholders' accounts," a Greek government official told Reuters. Japan's Mizuho Financial Bank spokeswoman confirmed that the payment was made, AFP said.

Samurai bonds are yen denominated bonds issued in Tokyo by non-Japanese companies and subject to Japanese regulations. It gives borrowers access to Japanese capital.

Greece has already missed a €1.6bn (£1.13bn, $1.76bn) debt payment to the International Monetary Fund in June and an additional €450m (£316.33m, $495.28m) due on Monday (13 July).

Greece sold Samurai bonds to investors in 1995 worth ¥11.7bn (£60.25mn, $94.77m)and another ¥46.4bn in 1996. There were concerns that Greece would also miss payment on the Samurai bonds.

Nizam Idris, head of strategy, fixed income and currencies at Macquarie Bank said that Greece likely prioritised the Samurai bond payment because if it missed this payment it would be the first default on a private sector debt, he told CNBC.

"A large proportion of Samurai bonds are held by private investors so not paying this would be a bigger deal than not paying the IMF. Ratings agencies don't define missed payments to the IMF as a credit event, but if this missed this one, it could be considered a default," he said.

He noted that although the payment was not a huge amount, it does indicate that Greece did have some liquidity.

Idris noted that the cost of the 5 July referendum in Greece cost more than the payment on the Samurai bonds. AFP had estimated the poll to cost about €110m (£77.32m, .