May 17, 2019 / 3:36 PM / 2 months ago

S.Africa power utility Eskom raises $360.51 million through loan drawdowns

JOHANNESBURG, May 17 (Reuters) - South Africa’s power utility Eskom said on Friday it had raised 5.2 billion rand ($360.51 million) through drawdowns against a portion of committed loans, 4 billion rand of which was received from China Development Bank (CDB), and the issuance of domestic bonds.

The struggling utility, which supplies more than 90 percent of the electricity in Africa’s most industrialised economy, said liquidity position stood at 7.7 billion rand at April. 30, 2019. ($1 = 14.4240 rand) (Reporting by Tanisha Heiberg)

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