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Cube Highways Trust Secures Rs.1,150 Crore via AAA-Rated NCDs for Refinancing and Growth
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News18•02-10-2026, 14:45
Cube Highways Trust Secures Rs.1,150 Crore via AAA-Rated NCDs for Refinancing and Growth
- •Cube Highways Trust successfully raised Rs.1,150 crore through the issuance of senior, secured, listed, rated, redeemable, non-convertible debentures (NCDs).
- •The AAA-rated NCDs carry a face value of Rs.1 lakh each, a 7.50% annual coupon payable quarterly, and a five-year tenor.
- •Funds from the NCDs will be used for refinancing outstanding senior debt and commercial papers, and funding capital expenditure and maintenance for Project SPVs.
- •Institutional investors, including Axis Bank Limited (Rs.550 crore) and ICICI Bank Limited (Rs.600 crore), subscribed to the NCDs.
- •This transaction is part of Cube InvIT’s larger financing program to raise up to Rs.4,500 crore through various instruments.
Key Questions Answered
Cube Highways Trust successfully raised Rs.1,150 crore through the issuance of senior, secured, listed, rated, redeemable, non-convertible debentures (NCDs).
Institutional investors subscribed to the NCDs, with Rs.550 crore allocated to Axis Bank Limited and Rs.600 crore allocated to ICICI Bank Limited.
The NCDs carry a coupon of 7.50% per annum payable quarterly, with a tenor of five years and a face value of Rs.1 lakh each.
