Storent bond issue raises EUR 10m

Latvian equipment rental company Storent Holdings, announced June 19 it had raised more than 10 million euros during a public offering of its bonds.

The company has attracted EUR 10,500,000 with an interest rate of 11% which, according to company founder Andris Pavlovs, "will enable us to continue our growth as well as refinance current liabilities. I am thrilled to see that close to 1,000 investors, the vast majority of them being private investors, subscribed for the bonds and will now become part of Storent's development.”

“On the other hand the biggest disappointment was that none of the institutional investors in the Baltics decided to support a local ambitious company. It seems that institutionals would rather invest abroad,” Pavlovs added.

Storent Holdings' new bonds have a maturity date of 21 December 2025. The interest rate was determined through an auction, and all investors will receive bonds with an interest rate of 11%.


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