Israel's Alon Blue Square may issue NIS 100 million series C notes

By Marisa Wong

Madison, Wis., Nov. 2 - Alon Holdings Blue Square - Israel Ltd. said it is considering a public offering of up to NIS 100 million of 5.75-year series C notes in Israel.

The company said it would issue an additional NIS 15 million if the offer is oversubscribed.

The offering of series C notes would be made following the company's receipt of NIS 400 million in bank loans in October.

The company said that on Aug. 10 Midroog Ltd. assigned an A1 local rating to any new notes of up to NIS 500 million the company may issue. Thus, the series C notes, if issued, would receive an A1 rating.

Based in Rosh Ha'Ayin, Israel, Alon Holdings Blue Square owns and operates supermarkets and specialty stores.

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