Storent confirms bond offering

Latvian construction equipment rental company Storent Holdings, which is one of the largest suppliers in the Baltic states, announced a public offering of its bonds May 31, based on the prospectus published on the company's website and Nasdaq Rīga and having received approval from the Bank of Latvia.

Storent Holdings is offering 150 000 notes with a nominal value of 100 euros per note and a maturity date of December 21, 2025, meaning it should raise 15 million euros.

The interest rate will be determined through an auction where investors can choose three options – 9%, 10% or 11%. The auction is open for both institutional and private investors. The subscription period starts on June 2 and will last until June 16, 2022 at 23:00 EEST, with the results being announced on June 19.

Bonds are planned to be listed on Baltic Bond List shortly after the issue date.

Andris Pavlovs, co-founder of Storent and Board member of Storent Holdings said: “Storent Investments first issued bonds already back in 2017. Today subscription for the first Storent Holdings bonds has opened. An investment in Storent is an investment in the development of modern, safe, and sustainable construction
equipment rental processes in the Baltics and Nordics.”


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