Cube Highways attracts Rs.1,030-Cr from IFC

Publicly listed Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors Pvt Ltd, has raised INR 1,030 crore through long-term listed non-convertible debentures (NCDs) from the International Finance Corporation (IFC). The financing has a tenure of 12 years. The funds will be used for a Special Purpose Vehicle (SPV) owned by Cube Highways Trust. The trust has a diversified portfolio of 18 toll and annuity road assets with an aggregate length of 1,423.60 kilometres. These assets are located across 11 states: Andhra Pradesh, Bihar, Haryana, Jharkhand, Karnataka, Kerala, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, and West Bengal.