Greece is poised to return to the financial markets next month with the first debt sale since it was forced to accept a euro 110 billion bailout in May.
Athens plans to raise up to euro 4 billion in July by selling short-term bills, with maturities of up to one year, to domestic and international investors.
The bond sale will test investors’ appetites after a recent downgrade by the credit rating agencies.
The benchmark Greek 10-year bond yield trades at 10 per cent, above UK’s 3.5 per cent. At these levels, borrowing from capital markets is unaffordable, analysts said.