Eskom also announced that it had already secured 30% of its funding for the 2019/2020 financial year. (Bloomberg)
Debt-laden Eskom has secured a R15-billion loan.
In a statement on Friday, Eskom announced that it had secured the loan through a consortium of local and international banks.
Eskom currently has a debt burden of almost R420-billion, and the new loan will go, in part, towards the utility’s current capital expenditure programme.
According to Eskom’s Andre Pillay, the utility has secured approximately 95% of the R72-billion funding required for the current financial year.
The remaining 5%, Pillay said, would be raised “through various funding sources including domestic debt capital markets”.
Eskom also announced that it had already secured 30% of its funding for the 2019/2020 financial year.
The utility’s group chief executive Phakamani Hadebe said the R15-billion loan showed that “financial markets continue to view Eskom in a positive light.”