REFILE-UPDATE 1-Hapoalim raises $381 mln in notes offering

(Corrects headline to read $381 mln)

* 8-year notes linked to the CPI

* Plans public debt issue next week

* Notes will boost capital adequacy ratio

JERUSALEM, June 25 (Reuters) - Bank Hapoalim (POLI.TA), Israel's second largest bank, said on Thursday it raised 1.5 billion shekels ($381 million) in an offering of capital notes to institutional investors.

Hapoalim said in a statement it planned to raise an additional sum in a debt offering to the public next week as part of a plan to boost the bank's capital adequacy ratio.

It said the eight-year notes will be linked to the consumer price index and pay interest of 5.75 percent.

Banking regulators have mandated that banks must reach a capital adequacy ratio of 12 percent by the end of 2009. Hapoalim's ratio was 11.27 percent at the end of March.

Since the beginning of the year, Hapoalim has raised 4 billion shekels from the public and institutional investors -- 3 billion shekels of which has come in June. ($1=3.94 shekels) (Reporting by Steven Scheer; Editing by Mike Nesbit)