Cube Highways Trust Raises ₹1,150 Crore Via NCDs

Cube Highways Trust, through its Investment Manager Cube Highways Fund Advisors Private Limited, has successfully raised ₹1,150 crore (₹11,500,000,000) by issuing senior, secured, rated, listed, redeemable, non-convertible debt securities (NCDs). The NCDs carry a coupon rate of 7.50% per annum, payable quarterly, with a maturity date of September 30, 2031. The funds raised will be utilized for refinancing outstanding debt and funding capital expenditure and maintenance expenses. The issuance was made on a private placement basis to eligible investors, with Axis Bank Limited subscribing to ₹550 crore and ICICI Bank Limited to ₹600 crore. This issuance is part of a larger financing program approved for raising up to ₹4,500 crore.