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UPDATE 1-Greece announces new 5-year bond issue after 3-year market exile

* Attempting to return to market as debt crisis eases

* Athens offers bondholders to tender 2019 bonds for cash

* Mandates six banks for new 5-year government paper (Adds details)

ATHENS, July 24 (Reuters) - In its first attempt to return to the bond market in three years as its debt crisis eases, Greece on Monday invited holders of its 4.75 percent outstanding bonds maturing in 2019 to tender them for cash, along with a plan to offer new five-year paper.

Greece last ventured into international bond markets with two issues in 2014, a year before then newly elected Prime Minister Alexis Tsipras signed up to a new bailout, the country's third since 2010, after months of tense negotiations with the European Union and the International Monetary Fund.

Last month the country concluded a crucial bailout review and its lenders offered some detail on the debt relief it will receive once its current bailout ends.

Reuters first reported last year that Greece was considering the possibility of two or three small bond issues before the expiration of the present bailout programme.

Greece said it had mandated BNP Paribas, Citigroup Global Markets, Deutsche Bank, Goldman Sachs, HSBC and Merrill Lynch as joint lead managers for the benchmark-size offering.

It said the cash to be paid for outstanding bonds would be equal to 102.6 percent of the nominal amount of each bond.

The pricing of the offering of new bonds is expected to occur on Tuesday, subject to market conditions. Settlement is expected on Aug. 1.

Holders of outstanding bonds tendered in the switch offer will receive accrued interest.

"The switch and tender offer is conditional on the successful pricing and closing of the new notes offering in an amount, with pricing and on terms and conditions satisfactory to the Republic," Greece said in a statement. (Reporting by George Georgiopoulos; Editing by Alison Williams)