South African power utility Eskom to auction ES26 bonds
Published August 29th, 2007
South Africa’s power utility Eskom will issue ES26 bonds on September 5, the company said on Wednesday.
Eskom said the bond’s bidding methodology would be on a spread basis to the government’s R186 bond maturing in 2026.
The company has embarked on a multi-billion rand programme to upgrade old infrastructure and build new plants to meet growing demand that has already led to power failures in some parts of the country.
Eskom said on Wednesday the size of the bond issue was still to be confirmed, but minimum bid size would be 1 million rand.
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