Debt

Debt financing

InvIT Cube Highways Trust raises Rs.820-Cr via NCDs to repay debt

NSE Announcement   Business Standard  

Cube Highways Trust, an infrastructure investment trust (InvIT) managed by Cube Highways Fund Advisors, has raised INR 820 crore through non-convertible debentures (NCDs). The proceeds from the issue will primarily be used to repay existing debt.The company has allotted 82,000 NCDs with a face value of INR 1 lakh each on a private placement basis. The bonds were issued across two tenors - 3.5 years and 10 years. Following this transaction, fixed-rate borrowings will constitute 33.4% of Cube InvIT’s obligations.Trilegal and Cyril Amarchand Mangaldas served as legal advisors for the issuance.