Cube Highways Trust (Cube InvIT) [BSE/NSE: CUBEINVIT], managed by Cube Highways Fund Advisors Pvt. Ltd., successfully secured Rs 1,030 crore through long-term listed non-convertible debentures (NCDs) from the International Finance Corporation (IFC). The transaction was finalized on June 28, 2023.The funds raised through this deal will be utilized for a Special Purpose Vehicle (SPV) owned by Cube Highways Trust.
Cube Highways Trust has a diversified portfolio of 18 toll and annuity road assets with an aggregate length of 1,423.60 kilometres. These road assets are located across 11 states, including Andhra Pradesh, Bihar, Haryana, Jharkhand, Karnataka, Kerala, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, and West Bengal. Commenting on the transaction, Vinay Sekar, CEO of Cube InvIT, said, "We are grateful for the support and confidence shown by IFC. This collaboration further reinforces Cube's dedication to upholding exemplary standards of governance and sustainability practices.
