Cube Highways Trust raises Rs.1,150 crore through AAA-rated NCDs
New Delhi [India], October 2: Cube Highways Trust (“Cube InvIT”) [NSE/BSE: CUBEINVIT/543899], managed by Cube Highways Fund Advisors Pvt. Lt...
New Delhi [India], October 2: Cube Highways Trust (“Cube InvIT”) [NSE/BSE: CUBEINVIT/543899], managed by Cube Highways Fund Advisors Pvt. Ltd. (the “Investment Manager”), has successfully raised Rs.1,150 crore through the issuance of senior, secured, listed, rated, redeemable, non-convertible debentures (NCDs) carrying a face value of Rs.1 lakh each and a coupon of 7.50% per annum, payable quarterly, with a tenor of five years.
The Investment Manager undertook the issuance through the NSE Electronic Bidding Platform, and the bidding process concluded on September 28, 2026. The NCDs are proposed to be utilised towards refinancing, in part or in full, of outstanding senior debt facilities and/or commercial papers, and funding of capital expenditure and maintenance expenses in relation to the Project SPVs.
Institutional investors subscribed to the NCDs, with Rs.550 crore allocated to Axis Bank Limited and Rs.600 crore to ICICI Bank Limited. Axis Bank Limited was allotted Rs.165 crore as Anchor Investor and Rs.385 crore as Non-Anchor Investor, while ICICI Bank Limited was allotted Rs.180 crore and Rs.420 crore, respectively, across the relevant allocations.
