Cube Highways set to be largest infra InvIT in the country
Cube Highways Trust (CHT), an Infrastructure Investment Trust (InvIT) floated by Singapore-based Cube Group, plans to raise Rs.12,075 crore over the near term for its tranche 1 assets and up to Rs.2,825 crore of debt for the ROFO assets (the right of first offer for six NHAI HAM assets).
These assets are proposed to be transferred to the Trust from Special Purpose Vehicles (SPVs).
The 19-road asset acquisition (consisting of 18 toll road assets and one annuity road asset) will make CHT the largest infra portfolio holder in India.
These road assets are operated and maintained pursuant to concessions granted by the NHAI/state government authority and are owned and operated by the respective project SPVs.
Rating agency ICRA said on 10 May 2022 that it has assigned Provisional [ICRA]AAA rating with stable outlook for the proposed borrowing programme of Cube Highways Trust. fiinews.com
