From The Economic Times · PTI · · 1m 20s
Cube Highways Trust Raises Rs 1,150 Crore
Cube Highways Trust secures Rs 1,150 crore via AAA-rated NCDs with 7.50% coupon.
In brief
Cube Highways Trust secures Rs 1,150 crore via AAA-rated NCDs with 7.50% coupon. Cube Highways Trust raised Rs 1,150 crore through AAA-rated NCDs with 7.50% annual coupon for five years. Originally reported by The Economic Times.
Cube Highways Trust
Cube Highways Trust managed by Cube Highways Fund Advisors Pvt. Ltd. raised Rs 1,150 crore through senior secured listed AAA-rated NCDs.
NCD Details
The NCDs carry a face value of Rs 1 lakh each, 7.50% annual coupon, payable quarterly, with a five-year tenor.
Bidding Process
The NSE Electronic Bidding Platform concluded the issuance on September 28, 2026, with institutional investors subscribing.
Investor Allocation
Axis Bank Limited received Rs 165 crore as Anchor Investor and Rs 385 crore as Non-Anchor Investor, while ICICI Bank Limited got Rs 180 crore and Rs 420 crore.
Funding Purpose
The NCDs will refinance outstanding senior debt facilities and fund capital expenditure and maintenance expenses for Project SPVs.
Broader Financing
This transaction is part of Cube InvIT's Rs 4,500 crore financing programme approved for NCDs, commercial papers, and rupee-denominated facilities.
Related Party
Axis Bank Limited is a related party of Cube Highways Trust as the promoter of Axis Trustee Services Limited, the Trustee of Cube Highways Trust.
The main idea
Cube Highways Trust raised Rs 1,150 crore through AAA-rated NCDs with 7.50% annual coupon for five years.
