Storent Holding attracts €16.5 million amid sustained trust from Baltic investors

Storent Holding, one of the leading equipment rental companies in the Baltics, has successfully raised €16.5 million in its public bond offering, fully achieving the primary objective of the issuance by securing the funding required both for the refinancing of existing bonds and for advancing the company’s investment programme. This is the second bond series issued under Storent’s €50 million bond programme.

The public bond offering included both an exchange offer for existing investors and an investment opportunity for new investors. During the initial subscription period, total demand for the new issue amounted to €13.3 million, while a further €3.2 million was submitted through the bond exchange offer. In total, more than 1,200 investors participated in the offering, and Storent’s overall investor base has now exceeded 5,000, making it one of the most broadly held issuers among investors in the Baltics.

By subscription amount, the largest share – 74% – came from investors in Latvia, 20% from Lithuania, and 6% from Estonia. In terms of the number of orders, Latvian and Lithuanian investors were the most active, submitting 505 and 419 orders respectively, with Estonian investors submitting 289 orders. These results demonstrate strong interest from retail investors across all three Baltic markets. In total, retail investors accounted for 85% of demand, while institutional investors contributed 15%, indicating confidence in Storent’s business model. All investor orders were allocated in full.

Andris Pavlovs, co-founder and Chairman of the Management Board of AS Storent Holding, says: “We are pleased to see our investor community continue to expand and Storent becoming increasingly recognised across the Baltic region. We appreciate every investor who participated in this offering and supports our development. Storent will further advance its growth plans by leveraging our diversified financing structure, including the funds raised through this bond issuance.

We remain focused on strategic investments aimed at strengthening operational efficiency across our core markets – in the Baltics, the Nordics, and our newest operating market, the United States. These priorities are supported by our digital capabilities, strong team, and extensive, modern equipment fleet.”

Kristiāna Janvare, Head of Investment Banking at Signet Bank, notes: “Storent is an experienced issuer in the Baltic capital market, consistently working to strengthen its visibility and investor relations across all three Baltic states. The company’s track record, ambitious growth strategy and transparent management communication were key factors that attracted investor interest in this offering. We are pleased to see strong participation from Latvian investors, as well as significant interest from Lithuania, demonstrating that a Latvian-owned company can build investor trust across the broader Baltic region based on long-established reputation and recognition.”

Storent will use €11.4 million of the funds raised in the bond issuance to refinance existing bonds, while the remaining amount will be allocated to advancing the company’s further growth plans.

As a result of the exchange offer, the outstanding amount of bonds maturing on 21 December 2025 (ISIN LV0000850089) has been reduced to €8,220,900, while the outstanding amount of bonds maturing on 21 September 2026 (ISIN LV0000850345) has been reduced to €6,737,600. Investors who participated in the exchange offer will receive a 1% exchange premium together with the accrued interest on the exchanged bonds within 10 business days from the issue date, while investors who did not participate will have their bonds redeemed at maturity.

Settlement for the bonds will take place on 5 December 2025. Investors will receive quarterly coupon (interest) payments, with the first interest payment scheduled for 5 March 2026.

Following the issuance date, AS Storent Holding will submit an application for the bonds to be listed on the regulated market of Nasdaq Riga, under the Baltic Bond List.

AS Signet Bank acts as the lead manager of the bond issue, with AS Redgate Capital and AB Artea Banka as distribution partners. Storent is advised on legal matters by law firm Cobalt.