The five-year bond issue carries a 3.5% annual interest rate, sources told.
The company has said that it plans to list the securities on Euronext Dublin and Nasdaq Vilnius.
It has selected BNP Paribas, Deutsche Bank and SEB Bankas as arrangers and dealers for the bond program and the offering.
Maxima Grupe is part of the Vilniaus Prekyba Group, which is controlled by Nerijus Numavicius.