Greece says it will issue a five-year bond on Tuesday, in the country's first attempt to return to worldwide borrowing markets since a single bond issue in 2014.
Greece looks set to return to the global bond markets following a three-year absence, according to a document released on Monday.
That development opened the way for Greece's market foray, which the Tsipras government says should be viewed as a test run and considered part of an overall strategy to ensure the country can fully return to markets next year.
Reuters reported that Greece had employed six banks - BNP Paribas, Bank of America Merrill Lynch, Citigroup, Deutsche Bank, Goldman Sachs and HSBC - to act as joint lead managers for a five-year euro bond "subject to market conditions".
It said the cash to be paid for outstanding bonds would be equal to 102.6 percent of the nominal amount of each bond. Settlement is expected on August 1.
Against this backdrop, Greek five-year debt, which will probably yield around 4.75 per cent, looks attractive to the investors being offered it provided you believe that the country will not be hit for another private debt restructuring.
The European Stability Mechanism will keep feeding the debt-ridden country with low interest rate loans (0.8 and 1.8 percent) until the end of the bailout programme in July 2018.
But the fund will not make any money available until after it receives "specific and credible assurances" from Greece's European lenders to ensure the country's debt sustainability.
It's the first time since the new Greek government was formed in 2015 that such a measure had been taken, the Greek Finance Ministry confirmed.
Speaking after the bond issue was announced, the EU's economy commissioner, Pierre Moscovici, described the public spending cuts imposed on Greece since it nearly went bust as "too tough" but "necessary", adding there was now "light at the end of austerity".
Greece still has a €326bn debt pile, after receiving three bailouts in the last seven years.