Storent issues €7 million bond

Photo: Storent

Latvia-based Storent Holdings has opened a new issue of bonds totalling €7 million.

The company said the bonds, which open on March 4 and have a fixed interest rate of 10%, will be used to further advance its share of the market in the Baltics and continue expansion into Sweden and Finland. 

Open to both institutional and private investors, the issue is to close on March 18, with an announcement of the results expected the following day, the company said. 

Storent will host an investment webinar next week, where it will provide more details on the offering to potential investors and open the floor to questions. 

Andris Pavlovs, co-founder and chairman of the Board of Storent group, said, “Additional capital will enable our company to strengthen positions in the Baltic markets and advance our expansion in Finland and Sweden. Last year around 1,500 investors from 13 countries already chose to invest in the company and subscribe for its bonds.

“The company has used the financing attracted in 2023 to significantly renew the company’s fleet, refinance existing liabilities, and is continuing to evaluate merger and acquisition opportunities in the region.”

The latest bond offering follows two that the completed in 2023 with a combined value of €15 million.