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UPDATE 1-Eskom signs $500 mln credit facility with China Development Bank
October 3, 2016 / 1:31 PM / a year ago

UPDATE 1-Eskom signs $500 mln credit facility with China Development Bank

(Updates with detail, adds quotes)

JOHANNESBURG, Oct 3 (Reuters) - South Africa’s Eskom:

* Eskom signs an inaugural $500 mln (7 billion rand) credit facility with China Development Bank, on Monday

* Eskom’s group chief executive Brian Molefe said the facility will contribute towards Eskom’s current capital expenditure programme and further stabilize Eskom’s liquidity position.

* The facility secures 75 percent of Eskom’s 69 billion rand funding requirement for the 2016/2017 financial year, said Eskom’s Chief Financial Officer Anoj Singh.

* The successful execution of credit facility increases funding secured for financial year 2016/17 to 51 billion rand Further company coverage: (Reporting by Tanisha Heiberg)

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