Eskom’s R500 million ES26 bond, grew to an estimated R38 billion, in 19-years.
Eskom announced its successful redemption of the bond, on Tuesday.
Dan Marokane, Eskom Group Chief Executive, said “the redemption of the ES26 bond is a testament to the utility’s turnaround trajectory and our commitment to rigorous financial governance. This achievement is a result of the structured support provided under the Debt Relief Act, integrated with our significantly improved year-on- year financial performance. By adhering to these debt relief conditions, we are fostering a more predictable and stable investment environment. This fiscal discipline is a critical lever for sustainability and it ensures that Eskom can continue to honour its obligations without placing an unsustainable burden on the government.”
It also emerged that the growth of the ES26 bond was achieved through 30 public auctions, which collectively raised approximately R9 billion.
The remaining balance was raised through reverse enquiries and liability management issuance.
The bond received the JSE Spire Award for Best Bond Issue, back in 2007.
Picture: Supplied