South Africa has been struggling for years to overhaul its state-power company which is plagued by corruption and mismanagement and reeling under a 400 billion rand debt pile.
Another 15% is international bonds, held by global asset managers such as PIMCO, BlackRock and Fidelity, according to recent filings. Citi says three-quarters of its bonds are government-guaranteed. "The magnitude of the crisis at Eskom is escalating and we believe more urgent and focused action is needed," she said.While the situation is pressing, it could take a while before a transfer is actioned after the budget.
Eskom's bonds seem to reflect part of that optimism, with some of its international issues up more than 8 cents on the dollar this year to trade at multi-month highs, Tradeweb data shows. , , ,
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Non-Racial South Africa - Book Shows Debate On Nation Building Is Still Relevant TodayAnalysis - There has been much comment recently on the lack of representation of minorities in the leadership structures of South Africa's governing party, the African National Congress (ANC).
Source: allafrica - 🏆 1. / 99 Read more »
South Africa: US, South Africa Launch Taskforce On Wildlife TraffickingSouth Africa and U.S. Treasury Secretary Janet Yellen announced plans Wednesday to form a task force that will combat the financing of wildlife trafficking.
Source: allafrica - 🏆 1. / 99 Read more »
South Africa: ANC Call for More Police Won't Solve South Africa's Crime CrisisAnalysis - The African National Congress' solutions to soaring crime are unclear and overlook the real problems facing policing.
Source: allafrica - 🏆 1. / 99 Read more »
Contract Law and the ConstitutionHow the Constitution of South Africa impacts contracts between private people/companies in South Africa.
Source: TheSAnews - 🏆 25. / 59 Read more »
Even Elon Musk cannot save Eskom — but private power will save South AfricaVenture capitalist and former FNB CEO Michael Jordaan believes not even Elon Musk could succeed as Eskom CEO, and anyone willing to take the helm after André de Ruyter leaves would have to be “crazy”. At this point, Nomayini is fine Welelele 🦺 Tesla Elon is a crazy narcissist.
Source: mybroadband - 🏆 11. / 67 Read more »
Business Maverick: Eskom Weighs Nuclear Fuel Impact After US-South Africa Pact EndsSouth African power utility Eskom Holdings SOC Ltd. is examining how the suspension of a pact that enables it to import nuclear fuel components from the US will affect its sole atomic plant. ANC boss man wants nuclear power plants but cannot even buy reactor fuel. As long as the ANC retain national executive? That kak wil never happen. It's the reason why ANC was handed South Africa on a silver platter. Promise you ANC and nuclear supply is a recipe for disaster on a world scale. Always been the deal. ANC are not to have grubby paws on it. Yeah good luck with that. This is the find out result of fucking around with Russia.
Source: dailymaverick - 🏆 3. / 84 Read more »