ESKOM HOLDINGS SOC LIMITED - Eskom signs a R20 billion credit facility with seven lenders - BIESKM
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Eskom signs a R20 billion credit facility with seven lenders - BIESKM
ESKOM HOLDINGS SOC LTD
JSE CODE: BIESKM
DATE: 28 FEBRUARY 2018
MEDIA STATEMENT
Eskom signs a R20 billion credit facility with seven lenders
Wednesday, 28 February 2018: Eskom has today signed a R20 billion short-term
credit facility with a consortium of local and international banks. The government
guaranteed facility will form part of the financing of Eskom’s current capital
expenditure programme.
The terms of the facility are comparable to Eskom’s existing facility agreements and
pricing is aligned to market benchmarks of similar structures.
Eskom’s Interim Group Chief Executive Phakamani Hadebe said, “We view the
successful execution of this facility as a demonstration of the financial markets’
confidence in Eskom’s turn-around strategy. 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 business to avoid
negatively impacting the macro-environment.”
Acting Chief Financial Officer Calib Cassim said: “Concluding this facility with the
suite of banks reiterates the renewed willingness by financial markets to engage with
Eskom. The funding provides Eskom with sufficient liquidity to allow the company
time to continue resolving its governance related issues and enables Eskom to
recommence with its normal funding program required to execute the FY2018/19
funding plan.”
ENDS
Eskom Media Desk
Tel: +27 11 800 3304 / 3343
Fax-to-Email: 086 664 7699
Email: mediadesk@eskom.co.za
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