IFC invests ₹860 cr in India's first sustainability bonds issued by Cube InvIT
Live MintNEW DELHI : International Finance Corporation, the private sector arm of the World Bank, has invested ₹860 crore in India’s first sustainability-linked bond issue in the highways sector. Issued by Cube Highways Trust, one of India's largest road sector-focussed infrastructure investment trusts, sustainability-linked bond is a debt instrument whose financial terms are linked to the issuer's pre-defined sustainability or environmental, social, and governance goals. Pankaj Vasani, Group CFO of Cube InvIT, said, "This milestone strengthens Cube InvIT's leadership in sustainable infrastructure finance, making it one of the first highway InvITs to integrate sustainability into its funding strategy. By partnering with Cube Highways Trust on this landmark SLB, IFC is facilitating innovative financing solutions that mobilize private sector investment and elevate infrastructure standards. Cube Highways Trust is backed by a diversified investor base, including I Squared Capital, British Columbia Investment Management Corporation, Abu Dhabi’s sovereign investor Mubadala Investment Company, and Japan Highways International BV.
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