- Eskom has concluded a R15 billion credit facility with a consortium of local and international banks.
- The government guaranteed facility will form part of the financing of Eskomโs current capital expenditure programme.
โWe have made significant progress in transitioning the business and securing funding. We are pleased that lenders have elected to continue partnering with Eskom on our journey to complete the capital expansion programme for the benefit of South Africaโs economy. It is also encouraging to see that financial markets continue to view Eskom in a positive light; as we progress towards financial and operational sustainability,โ said Phakamani Hadebe, Eskomโs Group Chief Executive.
Andre Pillay, General Manager Treasury said: โThe conclusion of this facility will ensure that Eskomโs liquidity requirements are timeously fulfilled. To date we have raised and secured approximately 95% of the R72 billion funding requirement for FY18/19; the remaining 5% will be raised through various funding sources including domestic debt capital markets. The stable liquidity position places us in a position to focus on securing funding for the next financial year (FY19/20 of which 30% has already been secured).โ
Author: Bryan Groenendaal
Source: Eskom Media Desk