Author: Nishtha Mehrotra | EQMint
Cube Highways Trust has raised ₹1,150 crore through non-convertible debentures (NCDs) carrying a 7.50% annual coupon. The five-year secured NCD issue was announced on October 2, 2026.
The NCDs will carry interest payments quarterly. The issue was completed through bidding on the NSE Electronic Bidding Platform, which closed on September 28, 2026.
Axis Bank subscribed ₹550 crore, while ICICI Bank subscribed ₹600 crore, together taking the entire issue. Axis Bank is a related party of the trust through its association with Axis Trustee Services, the trustee of Cube InvIT.
According to the company, the proceeds will be used to refinance outstanding senior debt facilities and commercial papers, besides funding capital expenditure and maintenance expenses at project SPVs.
The Cube Highways Trust NCD issue is part of a larger financing programme of up to ₹4,500 crore, which allows fundraising through NCDs, commercial papers or rupee-denominated facilities in one or more tranches.
Cube InvIT is registered with SEBI as an Infrastructure Investment Trust and became a public listed InvIT with effect from July 31, 2026.
Disclaimer: This article is for information purposes only and is not investment advice.
For more such information, visit EQMint
Join our WhatsApp channel for timely updates: Whatsapp
