Cube Mobility Investments Pte. Ltd has entered into financing agreements with State Bank of India (SBI) for availing the term loan facility of INR 3,500 crores ($462 million) toward the TOT-Bundle 3 projects.
This is a landmark transaction and one of the largest financings in the Indian road sector to date.
The toll-operate-transfer model developed by National Highways Authority of India (NHAI) uses a one-time, upfront concession fee paid to the government in return for the right to operate, maintain and collect tolls over 30 years on select operational national highway stretches. NHAI has awarded Cube Highways with TOT-Bundle 3 Projects, consisting of nine road stretches with 2,265 lane kilometers (1,407 lane miles)Â across four geographically diverse states in India. These project stretches have shown a healthy ramp-up of traffic after the COVID-19-related lockdown was lifted.
“We are very pleased to complete a crucial milestone for taking over the TOT-Bund
