Storent will return to the markets with EUR 4.5m offering

Latvian construction equipment rental company Storent Holdings, one of the largest suppliers in the Baltic states, announced September 21 a bid to raise more than 4 million euros on the financial markets.

A public offering of notes totalling EUR 4 500 000, with a fixed interest rate of 11% and maturity date on 21 December 2025 will start on 25 September.

Notes are issued in accordance with the Base Prospectus for the Issuance of Notes of Storent Holdings SIA registered by the Bank of Latvia on 30 May, 2023, which enables the company to place public offerings of notes worth up to EUR 15 million.

Andris Pavlovs, Co-founder and Chairman of the Board of Storent group said: “By issuing notes, this spring Storent Holdings raised EUR 10.5 million from close to 1000 private investors, originating from 13 countries. I am joyful about the faith our investors have shown in the company's future... We strive to digitalize the construction rental processes in the Baltics and Northern Europe.”

Storent Holdings SIA is offering 45 000 notes with a nominal amount of EUR 100 per note. The subscription period starts on 25 September and will last until 9 October 2023. The results will be announced on 10 October.

Storent was established in 2008 and currently the company operates 26 rental depots with a fleet of equipment worth more than EUR 160 million. Storent is the largest construction equipment company in Latvia and has one of the largest market shares in Estonia and Lithuania, plus operations in Finland and Sweden.

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