Eskom to stay out of bond market

Paris - Power utility Eskom has no plans to return to the international bond market to meet its financing needs, Public Enterprises Minister Malusi Gigaba told Reuters on Monday.

State-owned Eskom last month raised $1.75bn from a 10-year international bond issue but now the government is focusing on existing resources and a proposed capital increase, Gigaba said.

"We are not going to go into the international bond market to raise more funds (for Eskom)," Gigaba said.

"We are going to look at the resources we have within our capacity ... We still have to decide on the capital equity injection."

Gigaba added there were no plans to sell or float the government's stake in South African Airways, which is taking delivery of a new Airbus A330-200 on Monday.