"We will not know anything for sure before Monday," said a banking source close to the talks. "The euro zone ministers will examine the proposal and say whether we have a deal. If they say we don't, we're back to the negotiating table."
Private bondholders will likely take a hit of 65 to 70 percent on their holdings, with Greece's new bonds featuring 30-year maturity and a progressive coupon, or interest rate, averaging out at 4 percent, another banking official close to the talks told Reuters.