AS Storent Europe bond issue

About Storent Europe

AS Storent Europe operates in the construction and industrial equipment rental sector across the Baltics, Nordics (Finland, and Sweden) and the U.S., managing 34 depots. As a top 3 rental company in the Baltics, Storent holds a strong market position across all three countries, with an estimated 11% market share in the region.

In 2025, Storent completed its largest M&A transaction to date, using financing from the previous bond issue and U.S. bank funding to expand into the U.S. market through the acquisition of a 70% stake in Connect Rentals LLC.

The Group’s pro-forma revenue, including the contribution from Connect Rentals acquired in September 2025, increased steadily from EUR 56.9m in 2024 to EUR 66.9m for LTM ended June 2026, representing an 11% CAGR over the period. Pro-forma EBITDA increased from EUR 18.5m in 2024 to EUR 25.0m for LTM ended June 2026, while the EBITDA margin improved from 32.5% to 37.3%, reflecting stronger operating efficiency, disciplined cost management, and a favourable revenue mix as the platform expands.

The proceeds from the bond issue will be used to refinance the existing bonds (ISIN LV0000850345) in the amount of EUR 6.7m and to support the Group’s general corporate purposes and growth strategy.

Additional information: https://signetbank.com/wp-content/uploads/2026/08/Storent-Europe-teaser-ENG.pdf

Presentation: https://signetbank.com/wp-content/uploads/2026/08/Storent-Investor-Presentation.pdf

Term Sheet

(1) Full list of covenants can be found in the Base Prospectus