Eskom Shocking News
Eskom has announced that it has secured a R20-billion short-term credit facility deal with a consortium of local and international banks. Eskom said the government guaranteed facility will form part of the financing of the utility’s current capital expenditure programme. Eskom further stated the terms of the facility are comparable to its existing facility agreements and pricing is aligned to market benchmarks of similar structures. “We view the successful execution of this facility as a demonstration of the financial markets’ confidence in Eskom’s turnaround strategy,” interim Group Chief Executive Phakamani Hadebe said. “We are cognisant of the challenges that are still ahead for the business and we are committed to ensuring that we expediently transition Eskom’s operational and financial profile to adequate standards. “Eskom remains a critical enabler for South Africa’s economic growth and it is critical that we attain maximum operational efficiency for the busine...