Cube Highways Trust Raises Rs 820 Crore Through Bond Issue

Cube Highways Trust, managed by Cube Highways Fund Advisors Pvt. Ltd, announced a successful bond issuance, raising Rs 820 crore. This issue attracted considerable investor interest across two tenors: 3.5 years and 10 years, both issued at competitive rates, marking a significant move in its financial strategy.

The Board of Cube InvIT approved an allotment of 82,000 Non-Convertible Debentures (NCDs) with a face value of Rs 1 lakh each on a private placement basis. Proceeds from the issuance will be utilized mainly to repay existing debt, with the transaction expected to strengthen Cube InvIT's long-term financial stability.

Rated AAA/Stable by ICRA Limited and India Ratings & Research, the bonds will be listed on the BSE Limited's wholesale debt market, reflecting the trust's robust financial positioning. Legal advisement was provided by Trilegal and Cyril Amarchand Mangaldas, with Catalyst Trusteeship Limited acting as debenture trustee, underscoring the secured and structured nature of this financial maneuver.

(With inputs from agencies.)