CUBEINVIT

MUMBAI, June 25 (Reuters) - India's Cube Highways Trust CUBH.NS has accepted bids worth 6.37 billion rupees ($67.47 million) for bonds maturing in 11 years and nine months, three bankers said on Thursday.

The company will pay an annual coupon of 7.3925% and had invited commitment bids from bankers and investors earlier in the day, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 25:

* Size includes base plus greenshoe for some issues

($1 = 94.4075 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

(([email protected], [email protected]))

MUMBAI, Aug 19 (Reuters) - India's Cube Highways Trust plans to raise 8.2 billion rupees ($93.88 million) for the sale of bonds maturing in three years and six months and 10 years, three bankers said on Tuesday.

It will pay a coupon of 6.9300% and 7.3015%, respectively, on a quarterly basis, and has invited commitment bids for the issue later in the day, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 19:

*Size includes base plus greenshoe for some issues

($1 = 87.3440 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia)

(([email protected], [email protected]))

By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, July 24 (Reuters) - Three Indian infrastructure investment trusts, including the National Highways Infrastructure Trust, are planning to raise up to 43 billion rupees ($499 million) through corporate bonds in the coming weeks, three sources familiar with the matter said.

NHIT is in talks with merchant bankers and investors to raise around 15 billion rupees through three-year bonds, the sources, who did not want to be named because the discussions are private, said.

Cube Highways Trust CUBH.NS is likely to tap the market for about 10 billion rupees in debt, with maturities ranging between three and five years.

Meanwhile, IRB Infrastructure Trust IRBF.NS is preparing for its debut bond issuance, targeting roughly 18 billion rupees through a dual-tranche offering with five and 10-year tenors.

None of the infrastructure investment trusts, or InvITs, responded to Reuters emails seeking comment.

InvITs typically raise capital through a combination of units and bonds.

Bond issuances have gained traction in recent months amid falling yields. According to Prime Database, InvITs and real estate investment trusts (REITs) together raised more than 178 billion rupees in the January–June period.

All three InvITs are in discussions with investors, including the International Finance Corporation, which has previously invested in debt issued by several InvITs, including Cube Highways, according to a termsheet from an earlier offering.

NHIT last tapped the bond market in January, while Cube Highways raised funds through bonds in April.

Insurance firms and pension funds participated in NHIT's previous bond offering, and the sources said they expect mutual funds to show interest this time, given that the tenor aligns with their investment horizon.

($1 = 86.3825 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

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By Khushi Malhotra and Dharamraj Dhutia

MUMBAI, July 21 (Reuters) - Debt fundraising by India's asset-backed investment trusts is expected to keep rising after exceeding $2 billion in the first half of 2025, as falling interest rates continue to fuel strong investor demand, analysts said.

The real estate investment trusts (REIT) and infrastructure investment trusts (InvIT) raised over 178 billion rupees ($2.07 billion) in January-June, compared with 56 billion rupees in the same period last year, according to data aggregator Prime Database.

"Bonds offer a lower cost of capital compared to traditional bank financing, especially for highly rated trusts with stable, long-term cash flows," Arka Mookerjee, partner at JSA Advocates and Solicitors, which provides legal advice to corporates.

"The predictable income profiles of REITs and InvITs make them well-suited to debt financing, attracting institutional investors seeking yield-bearing, asset-backed instruments."

Corporate bond yields have tumbled over the last few months, as the central bank infused liquidity and slashed interest rates by 100 basis points, while banks have lagged in lowering their lending rates.

Embassy Office Parks REIT, IndiGrid Infrastructure Trust, Cube Highways Trust and Nexus Select Trust are among the firms that have tapped the bond market. Embassy REIT is planning another bond issue, Reuters reported last week, while others are also in early talks.

Bonds typically have fewer restrictions than bank loans, allowing REITs to use the fund across multiple properties within the portfolio, said Lata Pillai, India senior managing director and head of capital markets, JLL, a global real estate services firm.

The trusts, which need to disburse at least 90% of net distributable cash flows to unit holders, say cheaper funding allows them to provide better returns.

Bond fundraising provides clarity to these trusts on planning their finances, while top credit ratings attract marquee investors such as mutual funds and insurers.

"The AAA-rated structure gives greater credibility, visibility and better pricing," said Krishnan Iyer, chief executive officer at NDR InvIT, adding they also offer resilience to market volatility.

With infrastructure and real estate sectors gaining momentum, investors see REITs and InvITs as a compelling blend of fixed-income stability and long-term growth, said Suresh Darak, founder of Bondbazaar, an online bond trading platform.

($1 = 86.1700 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Vijay Kishore)

(([email protected];))

MUMBAI, April 25 (Reuters) - India's Cube Highways Trust has accepted bids worth 11.52 billion Indian rupees ($135.2 million) for bonds maturing in three years and in seven years, three bankers said on Friday.

The company will pay an annual coupon of 7.2503% and 7.3006% and had invited bids from bankers and investors for both the options on Thursday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 25:

*Size includes base plus greenshoe for some issues

($1 = 85.2130 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)

(([email protected]))

MUMBAI, April 23 (Reuters) - India's Cube Highways Trust CUBH.NS plans to raise 11.52 billion rupees ($135.14 million) through the sale of bonds maturing in three years and in seven years, three bankers said on Wednesday.

The company has invited bids from bankers and investors for both the options on Thursday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 23:

*Size includes base plus greenshoe for some issues

($1 = 85.2450 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Savio D'Souza
Editing by)

(([email protected]))

MUMBAI, Feb 20 (Reuters) - India's Cube Highways Trust CUBH.NS has accepted bids worth 6 billion rupees ($69.19 million) for bonds maturing in 19 years and one month, three bankers said on Thursday.

The company will offer a coupon of 7.59%, which would be payable on a quarterly basis, and had invited bids from bankers and investors earlier in the day, they said.

The bonds have a put/call option at the end of five years.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on February 20:

*Size includes base plus greenshoe for some issues

($1 = 86.7175 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

(([email protected]))

MUMBAI, Feb 18 (Reuters) - India's Cube Highways Trust CUBH.NS plans to raise 6 billion rupees ($69.03 million) selling bonds maturing in 19 years and one month, three bankers said on Tuesday.

The company has invited bids from bankers and investors for the issue on Thursday, they said.

The bonds have a put/call option at the end of five years.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on February 18:

*Size includes base plus greenshoe for some issues

($1 = 86.9180 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

(([email protected]))

MUMBAI, Feb 10 (Reuters) - India's Cube Highways Trust CUBH.NS has accepted bids worth 8.60 billion rupees ($98.2 million) for bonds maturing in 17 years and 11 months, three bankers said on Monday.

The company will offer a coupon of 7.67%, payable on a quarterly basis, and had invited bids from bankers and investors for the issue earlier in the day, they said.

The bonds have a put/call option at end of 10 years.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on February 10:

($1 = 87.5900 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

(([email protected]))

MUMBAI, Feb 7 (Reuters) - India's Cube Highways Trust plans to raise 8.60 billion rupees ($98.2 million) through the sale of bonds maturing in 17 years, three bankers said on Friday.

The company has invited bids from bankers and investors for the issue on Monday, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Feb. 7:

*Size includes base plus greenshoe for some issues

($1 = 87.5710 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

(([email protected]))

Dec 3 (Reuters) - Cube Highways Trust CUBH.NS:

• CUBE HIGHWAYS TRUST - ACQUISITION OF REMAINING 49% STAKE OF SIX SPVS

Further company coverage: CUBH.NS

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MUMBAI, June 24 (Reuters) - India's Cube Highways Trust has accepted bids worth 6.48 billion rupees ($77.62 million) for bonds maturing in 19 years and 9 months, three bankers said on Monday.

The company will pay a half-yearly coupon of 7.95% on this bond issue, for which it had invited bids earlier in the day.

The coupon would be increased by 25 basis points on every rating downgrade. The bonds carry put and call options, which can be exercised on March 31, 2026.

Here is the list of deals reported so far on June 24:

* Size includes base plus greenshoe for some issues

($1 = 83.4798 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Eileen Soreng)

(([email protected]))

MUMBAI, June 21 (Reuters) - India's Cube Highways Trust plans to raise 6.48 billion rupees ($77.52 million) through sale of bonds maturing in 19 years and 9 months, three bankers said on Friday.

The company has invited bids from bankers and investors for the issue on Monday, and the coupon would be stepped up by 25 basis points on every rating notch downgrade.

Here is the list of deals reported so far on June 21:

*Size includes base plus greenshoe for some issues

($1 = 83.5880 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman

)

(([email protected]))

June 29 (Reuters) - Cube Highways Trust CUBH.NS:

• SECURES 10.30 BILLION RUPEES FUNDING FROM IFC THROUGH LONG-TERM LISTED NCDS

Source text for Eikon: ID:nNSE9nCWp7

Further company coverage: CUBH.NS

(([email protected];))

MUMBAI, June 27 (Reuters) - India's Cube Highways Trust has accepted bids worth 10.30 billion Indian rupees ($125.65 million) for bonds maturing in 17 years and 10 months, three bankers said on Tuesday.

The company had invited bids from bankers and investors for the issue on June 26 and the issue has a put/call option at end of 12 years.

Below is the list of deals reported so far on June 27:.

*Size includes base plus greenshoe for some issuances

($1 = 81.9710 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman

)

(([email protected]))

MUMBAI, June 20 (Reuters) - India's Cube Highways Trust plans to raise 10.30 billion rupees ($125.7 million) through sale of bonds maturing in 17 years and 10 months, three bankers said on Tuesday.

The company has invited bids from bankers and investors for the issue on June 26. It has a put/call option at end of 12 years.


Below is the list of deals reported so far on June 20:

*Size includes base plus greenshoe for some issuances

($1 = 81.9600 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Varun H K)

(([email protected]))