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South Africa's Eskom looking for up to $1.5 bln bond sales in next 6-months
July 6, 2017 / 10:34 AM / 5 months ago

South Africa's Eskom looking for up to $1.5 bln bond sales in next 6-months

JOHANNESBURG, July 6 (Reuters) - South Africa’s state power utility Eskom sees significant appetite from international investors for its bonds and could tap the market for between $1 billion to $1.5 billion in sales in the next six months, chief financial officer Anoj Singh said on Thursday.

Addressing reporters after signing a $1.5 billion loan agreement with China’s Development Bank to help finance a power plant, Singh also said governance issues at Eskom had impacted the firm’s plans to secure funding.

Eskom has been in a leadership crisis after several board members, including the chairman and chief executive, resigned in recent months amid growing concerns about governance at the country’s sole electricity provider. (Reporting by TJ Strydom; Writing by Nqobile Dludla; Editing by James Macharia)

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