Eskom to tap global bond markets

Friday, September 10, 2010

South African power utility Eskom aims to issue bonds in the United States and Europe this year as part of a plan to raise up to $6,9-billion over the next three years, a top executive said on Tuesday.

Eskom, which uses mainly coal-fired power stations to supply most of the power to Africa's largest economy, needs funding for a planned multi-billion dollar programme to help alleviate chronic power shortages.

The utility is waiting for government approval of its plan to raise R45-billion to R50-billion over the next three years, Paul O'Flaherty, Eskom's finance director, told Reuters on the sidelines of a parliamentary briefing.

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Eskom to tap global bond markets

South African power utility Eskom aims to issue bonds in the United States and Europe this year as part of a plan to raise up to $6,9-billion over the next three years, a top executive said on Tuesday.

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