Cube Highways InvIT Raises ₹820 Crore via NCD Issue at Competitive Rates

Cube Highways Trust, managed by Cube Highways Fund Advisors Pvt. Ltd., has successfully closed its latest bond issuance, raising ₹820 crore through strong investor participation. The issue received bids across two tenors—3.5 years and 10 years—at attractive coupon rates.

The Board of Cube InvIT approved the allotment of 82,000 Non-Convertible Debentures (NCDs) with a face value of ₹1 lakh each on August 20, 2025. The 3.5-year NCDs, maturing on February 20, 2029, carry a coupon of 6.93%, while the 10-year NCDs, maturing on August 20, 2035, offer a coupon of 7.30%. Proceeds from the issue will primarily be used for debt repayment, resulting in fixed-rate borrowings making up 33.4% of Cube InvIT’s obligations.

The NCDs have been rated AAA/Stable by ICRA Limited and India Ratings & Research Pvt. Ltd. Trilegal and Cyril Amarchand Mangaldas advised on the transaction, while Catalyst Trusteeship Limited acted as the debenture trustee. The securities will be listed on the wholesale debt market segment of BSE Limited.