New Delhi, India, February 24, 2025: Cube Highways Trust (Cube InvIT) [NSE/BSE: CUBEINVIT/543899], managed by Cube Highways Fund Advisors Pvt. Ltd., has successfully concluded a ₹600 crore bond issuance arranged by Axis Bank Limited. The issuance saw participation from banks, insurance companies and development financial institutions. Cube InvIT’s Board approved the allotment of 60,000 Non-Convertible Debentures (NCDs) with a face value of ₹1 lakh each, aggregating to ₹600 crores, with a tenor of 19 years and 1 month on a private placement basis on February 21, 2025. The issue will be listed on the wholesale debt market segment of BSE Limited.

The funds raised from the issuance of these listed, secured Non-Convertible Debentures will be used to refinance the debt of Cube InvIT’s recently acquired Special Purpose Vehicle. This issuance follows the successful issuance of an ₹860 crore Sustainability-Linked Bond earlier this month.

Commenting on the transaction, Pankaj Vasani, Group CFO of Cube InvIT, said:

“The feedback from capital markets during this raise accentuates strong investor confidence in Cube InvIT’s financial prudence and growth potential. The issuance has attracted new investors as well as deepened relationships with the existing ones. Investors recognize Cube’s solid capital foundation, transparent operational strategies, and disciplined approach to risk management – factors that position Cube InvIT for sustained performance and long-term value creation.”

Crisil and India Ratings rated the issuance AAA.

With a proven track record of securing capital efficiently, Cube InvIT continues to strengthen its position as a leading infrastructure investment platform, leveraging diversified funding sources to drive sustainable growth and operational excellence.

Trilegal and Cyril Amarchand Mangaldas acted as legal advisors for the issuance. Catalyst Trusteeship Limited supported the issuance as the debenture trustee.

New Delhi, February 1st, 2025 | Cube Highways Trust (“Cube InvIT”) [NSE/BSE: CUBEINVIT/543899], managed by Cube Highways Fund Advisors Pvt. Ltd. (the “Investment Manager”), has today announced its results for the nine-month period ended December 31, 2024. The total consolidated income for the period stood 25,746.21mn, while the consolidated EBITDA for the period was 18,069.21mn.

The Board of Directors of the Investment Manager has declared a Distribution Per Unit (“DPU”) of 3.25 to ordinary unitholders for the 3rd quarter of FY 2024-25, amounting to a total distribution of 4,336.96mn. The record date for the distribution is February 4, 2025, and the distribution payment will be made on or before February 11, 2025.

Pankaj Vasani, Group CFO of Cube InvIT, stated: “We are delighted to deliver yet another quarter of robust business performance, spotlighted by consistent returns and resolute allegiance to excellence in cost leadership and corporate governance. Revenue and EBITDA grew by 14.04% and 25.22% YoY, respectively. Reflecting our dedication to driving stable value for our investors, we are declaring a DPU of 3.25, comprising 1.44 per unit as interest and 1.81 per unit as repayment of SPV loan.”

Cube InvIT continues to maintain AAA/Stable credit ratings from CRISIL, India Ratings, and ICRA. As of December 31, 2024, the portfolio valuation has increased to a total Asset Under Management of 290,291mn.