https://www.engineeringnews.co.za

Eskom’s gross debt level increases to R480bn

24th July 2020

By: Bloomberg

  

Font size: - +

Eskom Holdings' gross debt surged to R480-billion, after the struggling State-owned power utility borrowed from its lines of credit, documents seen by Bloomberg show.

The increase, from a previously disclosed level of R454-billion, comes as the company struggles to meet running costs, including a debt-service bill, despite a government bailout. Inadequate maintenance of its aging power plants led to rolling nationwide blackouts earlier this month.

Over the past year, Eskom clinched a R15-billion syndicated loan with commercial banks, a R7-billion loan from the China Development Bank and a R5-billion facility from South Africa’s Public Investment Corporation, the documents show.

Eskom declined to comment on a query about its debt level.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.063 1.091s - 158pq - 2rq
Subscribe Now