Deal details
5 Toll/HAM Roads Project in India - Refinancing
Description
Singapore-based Cube Highways has refinanced the debt on five of its toll/HAM road assets in India by raising more than INR34 billion ($444 million) through a mix of listed non-convertible debentures (INR24billion) and a rupee term loan. The arrangers were SBI Capital, Axis Bank and HDFC Bank, while investors included Axis Bank, Morgan Stanley and SBI Mutual Fund. Legal counsel was provided by Khaitan & Co and Trilegal.
Assets involved
Companies involved
- Axis Bank, HDFC Bank, SBI Capital Markets (SBICAPS)
- Cube Highways
- Morgan Stanley, SBI Mutual Fund, Axis Bank
- Axis Bank, SBI Capital Markets (SBICAPS), HDFC Bank
- Trilegal
- National Highways Authority of India (NHAI)
Key information
DA Toll Road Pvt Ltd
444$m
26-04-2022
Transport / Road
India
Project & Infrastructure Finance
Not PPP
Tranche information
Non-Convertible Debentures
313$
Project Bond
313$m
Indian Rupee - INR
24,000,000,000
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| Participant | role | ticket size |
|---|
Rupee Term Loan
130$
Term Loan
130$m
Indian Rupee - INR
10,000,000,000
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| Participant | role | ticket size |
|---|---|---|
| Axis Bank | Lender | 43$m |
| Morgan Stanley | Lender | 43$m |
| SBI Mutual Fund | Lender | 43$m |