Baltic investors demonstrated strong support for Storent’s growth strategy. Storent Europe’s public bond offering attracted subscriptions amounting to €12.96 million, exceeding the initially planned offering amount of €10 million. Due to strong investor interest, the company decided to satisfy all subscription orders in full.
The public bond offering took place in all three Baltic countries from August 25 to September 10. The bonds carry a fixed annual interest rate of 10%, have a maturity of 3.5 years, and a nominal value of €100. The proceeds will be used to refinance bonds maturing in September 2026 and to support the company’s further growth.
Storent bonds attracted interest from both retail and institutional investors. Institutional investors accounted for approximately 30% of total demand and retail investors for 70%. Of the investments made by retail investors, 68% came from Latvia, 21% from Estonia, and 11% from Lithuania.
By number of investors, Estonia was the most active market, accounting for approximately half, or 51%, of all retail investors. Latvia accounted for 35% and Lithuania for 14%. In total, more than 1,200 investors participated in the offering, bringing Storent’s total investor base to more than 5,000 and creating one of the largest investor communities in the Baltics.
Andris Pavlovs, Founder and Chairman of the Management Board of Storent Europe, commented: “The results of the bond offering demonstrate strong confidence in Storent’s growth strategy. In recent years, we have made significant investments in our rental fleet and technology and expanded our operations in the United States, which has already become our second-largest market. Since our first bond issue in 2017, we have consistently built relationships with investors across the Baltic countries. We therefore particularly appreciate the fact that demand exceeded the initially planned offering amount. We thank all investors who have chosen Storent and support our growth direction.”
Kristiāna Janvare, Head of Investment Banking at Signet Bank, said: “Storent is a good example of how a Latvian company can use the Baltic capital markets as part of its financing strategy while pursuing ambitious international growth plans. Companies like Storent can inspire others to set higher goals and take bold steps. By maintaining an active dialogue with a broad investor community, Storent also demonstrates how to build greater understanding of both the company’s business and bond investing.”
The bond offering also included an exchange offer for holders of bonds with ISIN LV0000850345. This was the third time investors had the opportunity to exchange these bonds for new ones. Across the three exchange offers, investors exchanged approximately 48% of the bonds eligible for exchange.
The remaining bonds with ISIN LV0000850345, amounting to €5,242,200 and held by investors who did not participate in the exchange offer, will be redeemed on September 21 this year. Investors who participated in the exchange offer will receive a 1% exchange premium and accrued interest on the exchanged bonds within ten business days after the issue date of the new bonds.
Settlement of the bond transactions will take place on September 17, 2026. Storent plans to submit an application on the issue date for the admission of the bonds to trading on the Baltic Bond List of the Nasdaq Riga regulated market.
Bondholders will receive coupon (interest) payments quarterly. The first interest payment will take place on December 17, 2026.
The bond issue is arranged by Signet Bank, with Cobalt acting as legal counsel.
Storent has been active in the capital markets since 2017, and this was the company’s seventh bond issue. All three bond issues that have reached maturity to date have been repaid in full and on time. Storent currently has approximately 5,000 investors from around 20 countries.
For more information:
Baiba Onkele
Member of the Management Board and Chief Financial Officer
AS Storent Europe
[email protected]