March 7, 2019 / 3:10 PM / in 4 months

S.Africa's Eskom dollar bonds jump after regulator grants tariff increase

LONDON, March 7 (Reuters) - Dollar-denominated bonds issued by South Africa’s Eskom rallied on Thursday after energy regulator Nersa granted the struggling state-run utility an increase in tariffs.

The 2028 issue jumped 2.5 cents to 108 cents in the dollar while the 2025 bond added 1.4 cents to trade at 101.25 cents, according to data from Refinitiv.

Nersa said Eskom could hike tariffs by 9.41 percent in the 2019/20 financial year, 8.10 percent in 2020/21 and 5.22 percent in 2021/22. (Reporting by Tom Arnold, editing by Karin Strohecker)

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