Greece will raise €3 billion ($4.14 billion) from its first longer-term bond sale in four years after attracting more than €20 billion of demand, according to bankers working on the deal.

The bankers said the five-year bond would price to yield 4.95%-a sharply lower price tag than initial suggestions in the range of 5.25% to 5.5%. About 550 investor accounts placed orders, they added.