Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Cube Highways Trust, managed by Cube Highways Fund Advisors Pvt. Ltd., has completed a bond issue worth INR 820 crore through privately placed non-convertible debentures. The issue was split into two tenors, with bonds maturing in about three and a half years at a coupon of 6.93% and in ten years at 7.3015%. With this, fixed-rate borrowings now account for over 33% of the trust's obligations. The proceeds will mainly go towards repayment of existing borrowings. Backed by a strong investor base, the issue has received AAA/Stable ratings from leading credit rating agencies.
Cube Highways Trust has raised INR 820 crore through a bond issue, receiving steady interest from investors. The trust is managed by Cube Highways Fund Advisors Pvt. Ltd. Advertisement
Its board approved the private placement of 82,000 non-convertible debentures, each carrying a face value of INR 1 lakh. The bonds were structured in two parts. One set carries a tenor of nearly three and a half years, issued at a coupon of 6.93% and maturing in February 2029. The second set has a tenor of ten years, issued at a coupon of 7.3015% and maturing in August 2035.
The funds raised from this issuance will largely be used to repay outstanding debt. With this transaction, fixed-rate borrowings make up around 33.4% of the trust's overall obligations. Credit rating agencies ICRA Limited and India Ratings & Research Private Limited have both given the instruments a AAA/Stable rating.
For this issue, legal advisory was provided by Trilegal and Cyril Amarchand Mangaldas, while Catalyst Trusteeship Limited acted as the debenture trustee. The bonds will be listed on the wholesale debt market segment of BSE Limited, ensuring wider visibility for investors.
Cube Highways Trust is supported by global institutional investors, including I Squared Capital, Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corporation, and Mubadala Investment Company. This strong backing, combined with successive AAA-rated issuances, highlights the trust's ability to attract capital to strengthen its financial structure.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
