Cube Highways Trust Secures Rs 600 Crore Through Bond Issuance

Cube Highways Trust successfully completed a Rs 600 crore bond issuance with support from prominent financial institutions. The funds will refinance debt related to a recent acquisition. Strong investor confidence underscores Cube InvIT's financial strategy and growth prospects. Legal and advisory support was provided by Trilegal and Cyril Amarchand Mangaldas.

Cube Highways Trust has announced the successful conclusion of a Rs 600 crore bond issuance, orchestrated by Axis Bank Limited. This financial maneuver involved widespread participation from banks, insurance companies, and development financial institutions, underscoring the trust's reputation in financial circles.

The Cube InvIT Board has sanctioned the allocation of 60,000 Non-Convertible Debentures (NCDs) with a face value of Rs 1 lakh each. The total of Rs 600 crores is set to mature over 19 years and 1 month, with funds earmarked to refinance the debt of a recently acquired Special Purpose Vehicle.

CFO of Cube InvIT, Pankaj Vasani, highlighted the favorable response from capital markets, indicating robust investor trust in the organization's financial acumen and expansionary capabilities. Esteemed legal advisory services were provided by Trilegal and Cyril Amarchand Mangaldas, with Catalyst Trusteeship Limited appointed as the debenture trustee.