Storent Holding bond offer oversubscribed, raising EUR 8.7 million

Latvia’s leading construction equipment rental company Storent Holding, one of the largest suppliers in the Baltic states, during the public offering of bonds has attracted EUR 8.7 million with an interest rate of 10%. This issue once again attracted strong investor interest, with total demand exceeding the issue size by 24%, and subscription orders were received from 1445 investors in Estonia, Latvia, and Lithuania.

Andris Pavlovs, Co-founder and Chairman of the Board of Storent Group: “This is already the second Storent bond issue in a row when investor demand has exceeded the number of bonds offered. Close to 3,000 private investors have shown their trust in Storent, which is of the utmost importance to us. We decided to meet the entire oversubscribed demand, as it will enable the company to accelerate the renewal of rental equipment.”

COBALT Banking and Finance team including Partner Edgars Lodziņš, Senior Associate Krišjānis Bušs, and Associate Maira Pužule provided legal assistance in connection with the issuance of bonds.

Nasdaq Riga announcement.