Trent Raises Rs 100 Cr To Refinance Loans
Trent Raises Rs 100 Cr To Refinance Loans

The retail arm of Tata group, Trent has raised Rs.100 crore from the market by issuing commercial papers to re-finance its existing borrowings.

Trent in a regulatory filing said, "The company has issued and allotted commercial paper of Rs.100 crore." The proceeds will be primarily used to refinance the existing borrowings, it added.

According to the company, Credit Analysis and Research Ltd (CARE Ratings) has assigned 'CARE A1' to the commercial papers.

The rating signifies very strong degree of safety with respect to timely payment of financial obligations.

The Trent stock was trading 0.54% up at Rs. 317.40 on BSE in the afternoon.

 
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