January 23, 2018 / 10:10 AM / a year ago

S.Africa Eskom's dollar-bonds rise, 2023 issue at 3-mth high

LONDON, Jan 23 (Reuters) - South African power utility Eskom’s dollar-denominated eurobonds rose across the curve on Tuesday with the 2023 issue hitting a three-month high according to Thomson Reuters data, as the state-run firm sought to drag itself out of a crisis.

The 2023 bond rose 0.9 cents to 104.38 cents in the dollar, its highest level since mid-October, after Eskom said it would ask local banks to reopen their lending facilities to the utility, with support from the Treasury.

The government named a new Eskom board on Saturday, ending a power vacuum that dates back to mid-2017. (Reporting by Claire Milhench, editing by Karin Strohecker)

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