Eskom secures almost R20bn loan for expansion
7 July 2016
Cape Town - Eskom has received an almost R20bn loan boost from the African Development Bank (AfDB) to fund its expansion programme, including the Medupi and Kusile new build programme.
The R20bn loan is broken down into a $365m (R5.36bn) unguaranteed senior unsecured loan and $10m (R246m) guaranteed A-loan, Eskom said in a statement on Thursday.
AfDB has also been appointed the arranger for another $965m (R14.1bn) guaranteed syndicated B-loan facility from lenders like Bank of China, Bank of Tokyo-Mitsubishi, CaixaBank, Citibank, HSBC, JP Morgan Chase, KfW IPEX Bank, Siemens Bank, and Standard Chartered, Eskom said.
The announcement comes after Eskom CEO Brian Molefe said the power utility had secured 57% of funding for 2016/2017.