Cube Highways Trust raises ₹1,150 crore via AAA-rated NCDs
In short
Cube Highways Trust raised ₹1,150 crore by selling senior secured NCDs. The coupon rate is 7.50% a year, paid every quarter for five years, and Axis Bank and ICICI Bank were key investors.
The money will be used to refinance debt and support capital projects. The report says the wider financing target is ₹4,500 crore, but the rest is not explained.
What the reporting says
Cube Highways Trust secured ₹1,150 crore by issuing senior secured NCDs at a 7.50% coupon payable quarterly for five years, according to the ET summary. The reporting says Axis Bank and ICICI Bank were key investors, and the proceeds will go toward refinancing debt and supporting ongoing capital projects. The trust’s broader financing target is ₹4,500 crore, but the rest of that plan is not detailed here.
Why it matters
Cube Highways Trust raised ₹1,150 crore through senior secured NCDs with a 7.50% annual coupon payable quarterly over five years. The summary says Axis Bank and ICICI Bank were major investors and that proceeds will refinance debt and support ongoing capital projects. The transaction is part of a larger ₹4,500 crore financing initiative, but the available reporting does not provide full terms beyond the coupon and use of proceeds.