Israeli supermarket chain Super-Sol released a statement to the Tel Aviv Stock Exchange yesterday [Sunday] revealing its intention to raise funds through a bond offering to institutional and other investors.

Super-Sol is hoping to raise 150m shekels (US$33m) with the release of three-and seven-and-a-half year bonds, according to the Ha’aretz daily newspaper, and domestic ratings agency Maalot has indicated that those bonds are likely to be rated AA .

Super-Sol has already asked several investors to submit bids.