Various market analysts have predicted that Greece will offer a new three-year bond sometime this week, which marks its first since its return to debt markets three months ago with a five-year bond, as reported by ekathimerini.

Yesterday, Cyprus' 10-year bond surpassed the secondary markets 5% figure, marking an upswing since its three-year low on June 12th.

Athens is eyeing a bond issue before August with a likely maturity of seven years to raise 2-3 billion euros, the official said, to take advantage of bond yields hovering around four-and-a-half year lows.