Nasdaq Welcomes Storent Investments to Nasdaq Baltic Bond List
Riga/Tallinn/Vilnius, Nasdaq Baltic Market, June 29, 2018
Nasdaq (NDAQ) announces that bonds issued by AS Storent Investments (short name: STOR080020A) have been listed on the Nasdaq Baltic Bond List by Nasdaq Riga as of today, June 29, 2018.
The size of the Storent Investments bond issue is EUR 10 million. The nominal value of one bond is EUR 100. The annual coupon rate is 8% with interest paid four times a year. Maturity date of the bond issue is June 30, 2020. Financial advisor Redgate Capital and the law office Cobalt were the bond issue’s arrangers.
“We congratulate Storent Investments for this bond listing on the exchange’s regulated market. It is a pleasure to see the Baltic Bond List broadened with an offering from a new industry, giving investors the chance to now also invest in a construction and industrial equipment rental company,” says Daiga Auziņa-Melalksne, Head of Exchange Services at Nasdaq Baltic and CEO of Nasdaq Riga.
“Storent operates in a capital-intensive industry and access to long-term finance is critical to the company’s success. Our aim in offering the corporate bonds is to continue our growth story and become the market leader in the Baltics as well as to continue to strengthen our position in the Nordic market,” says Andris Pavlovs, a Member of the Management Board at Storent Investments. “In the future, we hope to raise more funds on the capital markets in the form of bonds or shares to help us reach our long-term goals. Storent is dedicated already now to using best corporate governance practices and opening itself to a more diverse investor base.”
Storent Investments is an international group of companies which operates in the construction and industrial equipment rental industry. It is currently active in Latvia, Lithuania, Estonia, Finland, Sweden and Russia (Kaliningrad). Storent was established in Latvia in 2008 with the goal of becoming the most efficient construction equipment rental company in the Baltic and Nordic countries. Today Storent group companies offer 24 different product groups for rent from such leading manufacturers as Haulotte, Manitou, Kubota, Bobcat, Layher, SDMO, Maida, Hilti and Husqvarna.
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