ICRA Ltd and India Ratings C Research Private Ltd have assigned a rating of AAA/Stable to the Debt Securities
Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors Pvt Ltd, has raised ₹820 crore through a bond issue. The board of Cube InvIT has approved allotment of 82,000 non-convertible debentures with a face value of ₹1 lakh each, aggregating to ₹820 crore on a private placement basis on Wednesday.
The 3.5-year NCDs with a maturity date of 20 February 2029 were issued at a coupon of 6.93 per cent while the 10-year NCDs with a maturity date of 20 August 2035 were issued at a coupon of 7.3015 per cent. The proceeds will be used to repay the existing indebtedness. Following this transaction, fixed rate borrowings will constitute 33.4 per cent of Cube InvIT’s obligations.
ICRA Ltd and India Ratings C Research Private Ltd have assigned a rating of AAA/Stable to the Debt Securities.
Published on August 20, 2025