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Johannesburg - Eskom Holdings has signed a loan agreement of about R13bn with the French Export Credit Agency (ECA), the power utility said on Monday.
The fixed interest rate loan of €1,185m, covered by
the ECA, Coface, will be used to fund part of the eligible foreign content of the Medupi and Kusile turbine contracts with Alstom S & E Africa, the company said in a statement.
The agreement was signed between Eskom and five French banks as
lenders, namely BNP Paribas, Calyon, Societe Generale, Natixis and CIC.
BNP Paribas acted as Documentation Bank, Facility Agent and ECA
Agent.
The loan is re-payable over 12 years after the commissioning of
the relevant units of the Medupi and Kusile Power Stations, the
company said.
- Sapa