Lilac mentioned this in the comments earlier today.

Via the FT:

  • The most severe test of national resolve could come from Tokyo and the impending fate of a 20-year-old samurai bond
  • non-payment of the samurai bond would resonate powerfully
  • Would be Greece's first default on a commercially traded debt instrument
  • Credit analysts at two Japanese houses involved in the original sale of the 1995 bond believe that a default on the yen-denominated note could also trigger defaults on public bonds issued by Greece in other currencies.
  • The Y20bn note... matures on July 14
  • Greece has €1.5bn of payments due next week when its IMF bailout expires on June 30. If that payment is missed or delayed, agencies such as Fitch say the event would not technically constitute a ratings default

More at the FT (may be gated)