Greece successfully returned to the bond market Tuesday after a three-year absence with the sale of a five-year bond. Analysts have applauded the timing but caution the country is still in the hands of international creditors.
The Greek Debt Agency issued a 3 billion euro ($ 3.5 billion) five-year bond maturing in 2022 with a yield of 4.625 percent. The bond was oversubscribed with orders of 6.5 billion euros, confirming what sources had told CNBC earlier.
Tuesday's bond sale is a key milestone for the troubled Greek economy, which has been under economic surveillance since 2010. Athens tapped the markets in 2014, but shortly after the country was asking for a third financial bailout. The Greek government says this time is different and Athens is seeing the light at the end of the tunnel.
The Greek finance ministry wasn't immediately available for comment when contacted by CNBC Tuesday.
In an interview with the Guardian on Monday, Prime Minister Alexis Tsipras said: "We can now say with certainty that the economy is on the up … Slowly, slowly, what nobody believed could happen, will happen. We will extract the country from the crisis … and in the end that will be judged."