Storent Holding AS, one of the leading equipment rental companies in the Baltics, has successfully raised EUR 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 EUR 50 million bond programme.
Storent will use the funds raised in the bond issuance to refinance existing bonds and in advancing the company’s investment programme and further growth plans.
The public bond offering included both an exchange offer for existing investors and an investment opportunity for new investors. In total, more than 1,200 investors participated in the offering, and Storent’s overall bond investor base has now exceeded 5,000, making it one of the most broadly held issuers among investors in the Baltics.
The bonds will be listed on the regulated market of Nasdaq Riga, under the Baltic Bond List. AS Signet Bank acted as the lead manager of the bond issue, with AS Redgate Capital and AB Artea Banka as distribution partners.
COBALT Banking and Finance team including Partner Edgars Lodziņš, Senior Associate Krišjānis Bušs, Associate Vadims Zvicevičs, and Junior Associate Kate Birzgale provided legal assistance to Storent in connection with the issuance of bonds.
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