Cube Highways Trust (Cube InvIT) has raised ₹1,152 crore through AAA-rated non-convertible debentures (NCDs) across two tenors to refinance existing rupee loans.

The three-year series, subscribed 2.6 times, was raised at a coupon of 7.2503%, while the seven-year series, subscribed 2 times, was raised at 7.3006%. Participants included mutual funds, insurance companies, pension funds, and a non-banking finance company. CEO Vinay Sekar said the move diversifies Cube InvIT’s funding sources beyond banks and development finance institutions. Cube InvIT is backed by a strong investor base, including I Squared Capital, Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corporation, and Mubadala Investment Company, enhancing its financial stability and market presence.