Cube Highways Trust Secures Rs 6 Bn via Bonds for Infrastructure Growth
22 Feb 2025
2 Min Read
CW Team
Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors, has successfully completed a Rs 6 billion bond issuance arranged by Axis Bank. The issuance attracted participation from banks, insurance companies, and development financial institutions.
Cube InvIT鈥檚 Board approved the allotment of 60,000 non-convertible debentures (NCDs) with a face value of Rs 1 lakh each, totalling Rs 6 billion. These NCDs have a tenure of 19 years and one month and were issued on a private placement basis on February 21, 2025. The bonds will be listed on the wholesale debt market segment of BSE.
The proceeds from this issuance will be utilized to refinance the debt of Cube InvIT鈥檚 recently acquired Special Purpose Vehicle. This move follows the recent issuance of a Rs 8.60 billion Sustainability-Linked Bond earlier in the month, further strengthening the company鈥檚 financial strategy.
The bond issuance received AAA ratings from both Crisil and India Ratings, highlighting Cube InvIT鈥檚 strong credit profile. The high rating reflects the company's robust capital foundation, transparent operational strategies, and disciplined risk management approach.
Cube InvIT continues to reinforce its position as a key infrastructure investment platform by leveraging diversified funding sources to support sustainable growth and operational excellence. The company has consistently demonstrated its ability to secure capital efficiently, reinforcing investor confidence.
Trilegal and Cyril Amarchand Mangaldas served as legal advisors for the transaction, while Catalyst Trusteeship Limited acted as the debenture trustee. This successful bond issuance further enhances Cube InvIT鈥檚 financial stability and growth trajectory in the infrastructure sector.
News source: Business World
Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors, has successfully completed a Rs 6 billion bond issuance arranged by Axis Bank. The issuance attracted participation from banks, insurance companies, and development financial institutions.
Cube InvIT鈥檚 Board approved the allotment of 60,000 non-convertible debentures (NCDs) with a face value of Rs 1 lakh each, totalling Rs 6 billion. These NCDs have a tenure of 19 years and one month and were issued on a private placement basis on February 21, 2025. The bonds will be listed on the wholesale debt market segment of BSE.
The proceeds from this issuance will be utilized to refinance the debt of Cube InvIT鈥檚 recently acquired Special Purpose Vehicle. This move follows the recent issuance of a Rs 8.60 billion Sustainability-Linked Bond earlier in the month, further strengthening the company鈥檚 financial strategy.
The bond issuance received AAA ratings from both Crisil and India Ratings, highlighting Cube InvIT鈥檚 strong credit profile. The high rating reflects the company's robust capital foundation, transparent operational strategies, and disciplined risk management approach.
Cube InvIT continues to reinforce its position as a key infrastructure investment platform by leveraging diversified funding sources to support sustainable growth and operational excellence. The company has consistently demonstrated its ability to secure capital efficiently, reinforcing investor confidence.
Trilegal and Cyril Amarchand Mangaldas served as legal advisors for the transaction, while Catalyst Trusteeship Limited acted as the debenture trustee. This successful bond issuance further enhances Cube InvIT鈥檚 financial stability and growth trajectory in the infrastructure sector.
News source: Business World
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
