Trent has issued and allotted 3,000 Rated Listed Unsecured Redeemable Non- Convertible Debentures (NCDs) of Rs 10 lakh each at par aggregating to Rs 300 crore on a private placement basis. The NCDs will be listed on the Wholesale Debt Market segment of National Stock Exchange of India.
The proceeds of the Issue are proposed to be used primarily towards refinancing of existing debts. Besides, Credit Analysis & Research has assigned a credit rating of ‘AA+’ to the said instruments.
Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.
