Storent Holdings raises EUR 10.5 million in bond offer

Latvia’s leading construction equipment rental company Storent Holdings, one of the largest suppliers in the Baltic states, has attracted EUR 10 500 000 during the bond public offering. As of 27 June 2023, Storent bonds have been admitted to trading on the Nasdaq Baltic Bond List.

Andris Pavlovs, co-founder of Storent and Board member of Storent Holdings: “The attracted financing will enable us to continue our growth as well as refinance current liabilities. I am thrilled to see that close to 1000 investors, the vast majority of them being private investors, subscribed for the bonds and will now become part of the Storent development.”

Legal assistance during the issuance and listing of bonds on the Baltic Bond List of Nasdaq Riga was provided by COBALT Banking and Finance team including Partner Edgars Lodziņš and Senior Associate Krišjānis Bušs.

Storent was established in 2008 with the goal of developing an efficient construction equipment rental company. It is the largest construction equipment company in Latvia and has one of the largest market shares in Estonia and Lithuania, with an additional market presence in Finland and Sweden. Storent currently operates a total of 26 rental depots.