Data provided by McGregor BFA
All data is delayed
Loading...
See More
Where am I? Home

Eskom to repatriate $1.75bn from bond

Jan 21 2011 12:40 Reuters

Related Articles

Eskom US bond issue proves a hit

Eskom under massive power pressure

Eskom promises to keep SA's lights on

Ratings boost for Transnet, Eskom

Eskom to shut down Koeberg unit

Strong rand won't help Eskom

 

Johannesburg - Power utility Eskom will repatriate all funds from a $1.75bn bond issued this week, but is still talking with the central bank about how and when to do it, a spokeswoman said on Friday.

"Eskom is required to repatriate the funds in full to South Africa," spokeswoman Hilary Joffe told Reuters.

"The timing and the methodology are currently being planned in consultation with the South African Reserve Bank."

The bond issue closes on January 26.

On Thursday Eskom said that the 10-year, $1.75bn international bond launched this week was more than 2-½ times oversubscribed.

"The proceeds will be used to fund our committed capital expansion programme and so help to keep the lights on for all South Africans," CEO Brian Dames had said.

The offer follows an offshore roadshow by Eskom's executives and will be one of the largest international bond issues by a South African entity other than the state.

"The proceeds of the offering will be added to the company's general funding pool, to be applied to its committed programme of investment in new generation and transmission capacity and for general working capital," it said

brian dames  |  eskom bonds  |  eskom
NEXT ON FIN24X

Eskom gears up for pay talks

2013-05-21 20:40

 
 
Comment on this story
4 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

For detailed Unit Trust information, click here.

We're Talking About...

The Debt Issue

The Debt Issue brings you the latest debt news, tips on how to deal with and avoid debt, a panel of debt experts and real life debt stories from across South Africa.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...