Cube Highways’ asset cover for debentures reached 1.72 times as of June 30, 2026
(23:02, 14 Aug 2026)
Cube Highways’ asset cover for its listed non-convertible debentures was reported at 1.72 times as of June 30, 2026, according to a recent certificate. The coverage, which is a regulatory requirement, reflects a first-ranking pari passu charge on a broad range of assets including receivables, loans, dividends, and equity shares related to the company’s Project Special Purpose Vehicles. Certain Project SPVs, such as Mahua Bharatpur Expressways Limited, are excluded from the security. The certificate also includes a pledge of the Debt Service Reserve Account and a negative lien preventing additional encumbrances. The figures are based on unaudited records and are determined in accordance with multiple Debt Security Trust Deeds, with annual testing of financial covenants planned based on audited financials.