Cube Highways Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Cube Highways Trust (Cube InvIT) has allotted 82,000 secured, listed, redeemable non-convertible debentures with a face value of ₹1 lakh each, raising ₹820 crores in total. The issuance is split into two tranches: ₹420 crores at 6.93% interest for a 3.5-year tenor (maturing February 2029), and ₹400 crores at 7.3015% for a 10-year tenor (maturing August 2035). Both tranches have been rated AAA/Stable by ICRA and India Ratings & Research. The proceeds will primarily be used to repay existing indebtedness, after which fixed-rate borrowings will make up 33.4% of the trust's total obligations.
This is a routine refinancing exercise for unit-holders — the trust is locking in low-cost, long-tenure AAA-rated debt to replace existing borrowings, which should help lower overall interest costs and extend debt maturity profile. The AAA rating reflects strong credit quality and should reassure investors about the trust's financial health, with no negative implications for unit price expected.