Synopsis

Cube Highways Trust has triumphantly secured Rs. 1,150 crore by issuing senior secured NCDs, boasting a competitive coupon rate of 7.50% per annum, payable quarterly for five years. Major institutional players, Axis Bank Limited and ICICI Bank Limited, were pivotal investors in this transaction. The proceeds will facilitate debt refinancing and support ongoing capital projects, as part of an ambitious financing initiative targeting Rs. 4,500 crore.

Cube Highways Trust ("Cube InvIT") [NSE/BSE: CUBEINVIT/543899], managed by Cube Highways Fund Advisors Pvt. Ltd. (the "Investment Manager"), has successfully raised Rs.1,150 crore through the issuance of senior, secured, listed, rated, redeemable, non-convertible debentures (NCDs) carrying a face value of Rs.1 lakh each and a coupon of 7.50% per annum, payable quarterly, with a tenor of five years.

The Investment Manager undertook the issuance through the NSE Electronic Bidding Platform, and the bidding process concluded on September 28, 2026. The NCDs are proposed to be utilised towards refinancing, in part or in full, of outstanding senior debt facilities and/or commercial papers, and funding of capital expenditure and maintenance expenses in relation to the Project SPVs.

Institutional investors subscribed to the NCDs, with Rs.550 crore allocated to Axis Bank Limited and Rs.600 crore to ICICI Bank Limited. Axis Bank Limited was allotted Rs.165 crore as Anchor Investor and Rs.385 crore as Non-Anchor Investor, while ICICI Bank Limited was allotted Rs.180 crore and Rs.420 crore, respectively, across the relevant allocations.

The transaction forms part of Cube InvIT's broader financing programme approved for raising financial assistance of up to Rs.4,500 crore, across one or more tranches and through a combination of NCDs, commercial papers and/or rupee-denominated facilities.

Disclosure: Axis Bank Limited is a related party of Cube Highways Trust by virtue of being the promoter of Axis Trustee Services Limited, the Trustee of Cube Highways Trust. The relevant related party transaction approvals of the Audit Committee and Board have been obtained in accordance with the applicable regulatory framework.

About Cube Highways Trust

Cube Highways Trust ("Cube InvIT") is an irrevocable Trust established under the Indian Trusts Act, 1882, and registered with the Securities and Exchange Board of India (SEBI) as an Infrastructure Investment Trust (SEBI Registration No: IN/InvIT/22-23/0022). Cube InvIT converted from a private listed InvIT to a public listed InvIT with effect from July 31, 2026.

Our Sponsor is a part of the Cube Group, which is an institutionally-owned road infrastructure platform backed by a diversified investor base, including I Squared Capital (through ISQ Fund III Asia Infrastructure Holdings Pte. Ltd), Platinum Rock B 2014 RSC Limited (as trustee of the Platinum Stone A 2014 Trust, a wholly owned subsidiary of the Abu Dhabi Investment Authority) ("Platinum Rock"), Varese IRR LP ("BCI") and Mubadala Investment Company PJSC ("MIC") (through Seventy Second Investment Company LLC).

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