Cube Highways Trust Secures ₹820 Cr Via AAA Rated NCDs

New Delhi, August 21, 2025: Cube Highways Trust (Cube InvIT) , managed by Cube Highways Fund Advisors Pvt. Ltd., has announced the successful closure of its latest bond issuance, securing investor interest with bids amounting to INR 820 crore across two tenors—3.5 years and 10 years—at competitive rates.

Cube InvIT’s Board approved the allotment of 82,000 NCDs with a face value of INR 1 lakh each, aggregating to INR 820 crore on a private placement basis on August 20.

The 3.5-year NCDs with a maturity date of February 20, 2029, were issued at a coupon of 6.9300 per cent while 10-year NCDs with a maturity date of August 20, 2035, were issued at a coupon of 7.3015%. The proceeds from this issue will primarily be used to repay the indebtedness. Following this transaction, fixed-rate borrowings will constitute 33.4 per cent of Cube InvIT’s obligations.

ICRA Limited and India Ratings C Research Private Limited have assigned a rating of AAA/Stable to the Debt Securities.

Trilegal and Cyril Amarchand Mangaldas served as legal advisors for the issuance. Catalyst Trusteeship Limited acted as the debenture trustee. The issue will be listed in the wholesale debt market segment of BSE Limited.