Storent closes its biggest bond offering

Photo: Storent

Storent Holding has announced that it has raised €23 million through its latest public bond offering.

The company said the bond, which offers a fixed annual interest rate of 10%, represents its largest issuance to date and received significant interest from both private and institutional investors, with 1,600 investors taking part.

According to Storent, the proceeds from the bond will be used to refinance existing obligations, support expansion plans—including potential acquisitions in both the current and US markets—and invest in the growth of Storent’s equipment fleet. 

Of the total raised, €16 million came from new subscriptions, while €7 million was generated through a bond exchange offer. Investor interest was particularly strong in Estonia, it said, where 40% of orders originated, followed by Latvia (37%) and Lithuania (23%).

Latvian investors accounted for the largest share of the total demand by volume, contributing 73%, with investors from Lithuania and Estonia making up 15% and 13%, respectively. The offering attracted investors from 17 countries.

Andris Pavlovs, co-founder and Chairman of the Management Board of AS Storent Holding, said, “We’re deeply grateful to every investor who participated in this offering and supports our growth strategy. It’s particularly rewarding to see our employees, clients, and partners among the investors. We’re especially pleased to see interest from institutional investors – their involvement is a clear sign of trust and recognition of our business and strategic direction.

“Storent is growing rapidly, with ambitious plans in both our core markets and the U.S. The funds raised will support our growth strategy, strengthen market positions, and create value for our investors.”

Kristiāna Janvare, managing director of lead arranger Investment Banking of Signet Bank AS, added, “It is noteworthy that Storent was able to gain investor trust even under relatively challenging market conditions that prevailed during the public bond offering, driven by geopolitical uncertainty and the introduction of U.S. import tariffs.

“Particularly strong interest from Latvian private investors made this the most successful issuance in the company’s history in the local market and highlights the growing activity of Latvia’s private investor base.”