Page 6 - Cube Highways News Today

International Finance Corporation (IFC) is weighing a $126-million loan package to Cube Highways Trust (CHT).

The projects have strong counter parties - NHAI for four projects and Ministry of Road Transport and Highways (MoRTH) and Madhya Pradesh Road Development Corporation (MPRDC) for one each, said a recent Crisil report. The toll road projects have a long tolling track record between 8 to 14 years, while the annuity projects have a track record of receiving 26 and 20 semi-annual annuities without any material deduction.

The road assets are likely to be valued at Rs 6000-7000 crore and NHAI will be auctioning them under Operation, Maintenance and Transfer (TOT) Model. The road assets include Kota Bypass (NH76) and 81-km long Gwalior-Jhansi (NH75) ; and 60-km long Delhi-Meerut Expressway.

Cube Highways Trust (Cube InvIT) [BSE/NSE: CUBEINVIT], managed by Cube Highways Fund Advisors Pvt. Ltd., successfully secured Rs 1,030 crore through long-term listed non-convertible debentures (NCDs) from the International Finance Corporation (IFC). The transaction was finalized on June 28,

National Highways Infra: To acquire five operational road projects worth Rs 9,000 crore

The funds raised through this deal will be utilised for a special purpose vehicle (SPV) owned by Cube Highways Trust

The funds will be used for a Special Purpose Vehicle owned by the trust, which has a portfolio of 18 toll and annuity road assets across 11 Indian states

The funds raised through this deal will be utilised for a Special Purpose Vehicle (SPV) owned by Cube Highways Trust., , Cube Highways Trust, funding

"Sekura has started diligence on these roads," one of the sources said. "Ashokas portfolio is one of the bigger HAM portfolios available and hence it had evinced interest from multiple players," the person said. The portfolio is expected to fetch an enterprise value of close to ₹5,500 crore with equity value of up to ₹1,300 crore, he added.

Road asset sale to reduce Rel Infra debt by Rs 2,000 cr