A consortium of local and international banks has granted Eskom a R15 billion loan facility.
The government guaranteed facility will form part of the financing of Eskom’s current capital expenditure programme.
The power utility’s Group Chief Executive Phakamani Hadebe said significant progress has been made in securing funding.
“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 Hadebe on Friday.
He said it is encouraging to note that financial markets continue to view the utility in a positive light as the company strives towards financial and operational sustainability.
Meanwhile, general manager of treasury at the utility, Andre Pillay, said the conclusion of the loan facility will ensure that liquidity requirements are fulfilled timeously.
“To date we have raised and secured approximately 95% of the R72 billion funding requirement for financial year 18/19; the remaining 5% will be raised through various funding sources including domestic debt capital markets.
“The stable liquidity position places us in a position to focus on securing funding for the next financial year (financial year 19/20 of which 30% has already been secured),” he said.