Consortium rescues Eskom with R15bn loan

Eskom says in a statement it has secured a R15 billion credit facility from a consortium of local and international banks.

“We have made significant progress in transitioning the business and securing funding. We are pleased that lenders have elected to continue partnering with Eskom on our journey to complete the capital expansion programme for the benefit of South Africa’s economy,” said Eskom CEO Phakamani Hadebe.

“It is also encouraging to see that financial markets continue to view Eskom in a positive light; as we progress towards financial and operational sustainability.”

The loan will form part of its capital expenditure programme, the utility added.

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