|Storent Holdings, SIA (984500D9LC6F3BB9F323)
|2.2. Iekšējā informācija
Latvia's leading construction equipment rental company Storent Holdings, one of the largest suppliers in the Baltic states, announces that during the public offering of its notes the company has attracted the entire offering of EUR 4 500 000 with an interest rate of 11%. The total demand for the bonds was EUR 7 273 300 from 1325 unique investors. Estonian investors contributed 56% of the total demand, Latvian investors 32% and Lithuanian investors 11%.
Andris Pavlovs, Co-founder and Chairman of the Board of Storent group: “The bond issue was oversubscribed by 62%, and the overall number of investors who subscribed grew by 43%, compared to the bond issue that we held in May. It shows there is a strong interest and belief in the innovations Storent brings to the market. We will continue to develop the company as a modern rental business.”
“With the current offering, we have expanded our loyal private investor base who are now a crucial part of the Storent story. We would like to thank all investors who participated in the offering and value highly the trust shown also by the investors whose orders were not satisfied. The additional financing attracted will help us increase the pace at which we will continue our growth both geographically and by increasing our market share in existing markets,” Pavlovs added.
As described in the Final Terms and also as communicated during the webinar the bonds are allocated according to the time when an order was submitted. The earlier submitted orders are fully satisfied, one is partially satisfied, and a large share of orders did not receive any bonds because they were submitted during the last days of the subscription period. In total 660 investors received at least one bond.
Storent Holdings notes have a maturity date of 21 December 2025. The interest rate is 11%. Settlement of the notes is expected on 12 October. The issuer did not use its rights to subscribe for the bonds during the initial offering period. Storent Holdings thanks investors for the active subscription to the company's notes.
For media inquiries please contact:
Storent Holdings CFO
Storent was established in 2008 with the goal of developing an efficient construction equipment rental company. Currently, the company operates 26 rental depots with a fleet of equipment worth more than EUR 160 million. Storent is the largest construction equipment company in Latvia and has one of the largest market shares in Estonia and Lithuania, and extensive operations in Finland and Sweden.