Cube Highways Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Cube Highways Trust has filed a regulatory statement confirming NIL deviation in the use of proceeds from two private placement debt issuances during the half year ended March 31, 2025. The first tranche of Rs. 8,600 million (NCDs, ISIN: INE0NR607033) was raised on February 12, 2025, and the second of Rs. 6,000 million (ISIN: INE0NR607041) on February 21, 2025, taking total debt raised to Rs. 14,600 million. Both tranches have been fully utilized (Rs. 8,600 million and Rs. 6,000 million respectively) exactly as per the original objects disclosed in the offer documents. The funds were used for acquiring shares of N.A.M. Expressway Limited (NAMEL) from the promoter entity and for on-lending to NAMEL to refinance existing promoter loans.
This is a routine compliance disclosure that reassures bond holders and unit holders that the Trust has used the Rs. 1,460 crore raised via NCDs entirely as intended, with no diversion of funds. No negative impact on the stock or debt instruments; reflects good governance and on-track deployment for the NAMEL acquisition and refinancing.