Cube Highways Trust, an Infrastructure Investment Trust (InvIT) for road assets, plans to raise Rs 12,075 crore through debt to pre-pay loans for 17 projects in the country.
Cube InvIT, is proposing to acquire 19 assets, including 18 toll road assets and one annuity road asset, from the sponsor Singapore-based Cube Highways group. The trust, the largest road InvIT in India, will also have the right of first offer (ROFO) for another six assets (ROFO assets).
These road assets are operated and maintained pursuant to concessions granted by the National Highways Authority of India and state government authority. They are owned and operated by the respective project Special Purpose Vehicles (SPVs).
