Israeli food maker Strauss Group said that its board has approved an offering of ILS300m (US$70.6m) worth of bonds, according to reports.

The bonds will be redeemed in three annual payments from 2011 to 2013, bearing variable interest to be paid quarterly, Reuters reported yesterday (26 April).

The company said it plans to approach potential investors for pre-commitments to the offering.

The Strauss Group is a publicly-traded, food and beverage firm that operates in three primary product segments – beverages (mainly coffee), fresh foods and snacks, producing dairy goods, confectionery, ice creams, Mediterranean salads, salty snacks and baked goods.