Cube Highways InvIT raises Rs.600-Cr via NCDs

Cube Highways Trust (Cube InvIT) has raised INR 600 crore through bonds arranged by Axis Bank. The issuance saw participation from banks, insurance companies and development financial institutions. The Trust is to allot 60,000 Non-Convertible Debentures (NCDs) with a face value of INR 1 lakh each, aggregating to INR 600 crore, with a tenor of 19 years and 1 month, on a private placement basis.Trilegal and Cyril Amarchand Mangaldas acted as legal advisors for the issuance. Catalyst Trusteeship Ltd acted as the debenture trustee.