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Investors show confidence in Eskom!

 The Notes are scheduled to mature on August 6th; 2023.

 The proceeds of the offering will be added to Eskom’s general funding pool, to be applied to its committed programme of investment in new generation and transmission capacity and for general working capital.

 “We welcome the confidence that international investors have shown in Eskom and in South Africa, particularly in the midst of such challenging markets,” said Brian Dames, the Chief Executive of Eskom.

 

“The offer is an important part of our well-established funding programme and the proceeds will contribute to the completion of our committed capital expansion programme and so help to keep the lights on for all South Africans. Its success was facilitated by government’s strong support for Eskom,” Dames said.

 The Minister of Public Enterprises Malusi Gigaba said: “The positive response by investors is an indication that investors recognise Eskom’s fundamental importance to the economy. This is despite the challenges that Eskom faces in responding to the regulator’s tariff determination. This latest showing enables us to further our infrastructure goals.”

 The joint mandated lead managers of the issue were Barclays and Citigroup together with their respective local partners Vunani and aloeCap.

 Meanwhile, Andrew Etzinger- Senior General Manager for Integrated Demand Management, has been appointed as the acting spokesperson for Eskom, with immediate effect.

This follows the resignation of Hilary Joffe, who has been with the parastatal for ages.

The appointment of permanent spin-doctor position is under way, according to Eskom.

 

 

 

 

 

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