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Alon Holdings Blue Square - Israel Announces A Private Placement Of Its Series C Notes In Israel

ROSH HA'AYIN, Israel, April 4, 2012 /PRNewswire/ --

Alon Holdings Blue Square - Israel Ltd. (the "Company") (NYSE and TASE: BSI), announced today that it has agreed with Israeli institutional investors to issue to such investors NIS 35,000,000  nominal value of unsecured non-convertible Series C Notes of the Company in consideration for an aggregate sum of NIS 31,325,000 through a private placement (the "Private Placement").

If issued, the terms of the additional Series C Notes will be similar to the terms of the Series C Notes offered by the Company in its shelf offering report published in Israel on November 8, 2010 and which are currently traded on the Tel Aviv Stock Exchange (the "TASE"). The additional Series C Notes, if issued, will form a single series together with the currently outstanding Series C Notes. For details on the terms of Series C Notes, see the Company's announcement dated November 8, 2010.

The sale of the additional Series C Notes to be issued as part of the Private Placement on the TASE will be subject to lock-up mechanism as prescribed in the Israeli Securities Law of 1968 and regulations promulgated there under.

The issuance of the Series C Notes is subject to the receipt of the approval of the TASE for the listing for trade of such Series C Notes.

The net proceeds from the Private Placement, if completed, after deduction of the arrangers' fees and other expenses relating to the Private Placement, are expected to be approximately NIS 31,200,000.

The Series C Notes will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to U.S. Persons (as defined in Regulation "S" promulgated under the Securities Act) without registration under the Securities Act or an exemption from the registration requirements of the Securities Act.

This press release shall not be deemed to be an offer to sell or a solicitation of an offer to buy any of the Series C Notes.

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