July 29, 2019 / 2:47 PM / 4 months ago

S.Africa's Eskom dollar bonds slip as hunt for CEO continues

LONDON, July 29 (Reuters) - Dollar-denominated bonds issued by South Africa’s cash-strapped state-owned utility Eskom extended falls on Monday following an announcement by the government that chairman Jabu Mabuza will act as chief executive officer until a new CEO is found.

Eskom’s 2025 issue fell 0.7 cents in the dollar to 104.08 cents, the lowest level in one month, data from Tradeweb showed.

Executive chairman Mabuza will also be acting CEO for three months, during which time the board will find a new chief, public enterprises minister Pravin Gordhan said in a statement.

Reporting by Karin Strohecker; Editing by Tom Arnold

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