Baltic-based equipment rental company AS Storent Holding is issuing new bonds as part of its strategy for expansion, including an exploration of the US market.
350,000 bonds will be issued, each valued at €100, with a 10% annual interest rate and a 3.5-year maturity.
Open to both retail and professional investors, the bonds will be listed on Nasdaq Riga. The subscription period runs from April 2 to 17, with settlement set for April 25.
With that, the company aims to raise up to €35 million through the issue, with proceeds earmarked for debt refinancing, fleet expansion, and acquisitions—specifically a potential deal in Texas.
Storent has signed a letter of intent to acquire a 70% stake in a Texas-based equipment rental company, which it said is a key step in its strategy to expand beyond the Baltics and Nordics.
Upon completing the deal, Storent plans to retain the current owners to…
