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S.Africa power utility Eskom raises $360.51 million through loan drawdowns

Reuters | Updated: 17-05-2019 21:36 IST | Created: 17-05-2019 21:08 IST
S.Africa power utility Eskom raises $360.51 million through loan drawdowns
The struggling utility, which supplies more than 90 per cent of the electricity in Africa's most industrialised economy, said liquidity position stood at 7.7 billion rand at April. 30, 2019.  Image Credit: Twitter(@SAgovnews)

South Africa's power utility Eskom said on Friday it had raised 5.2 billion rand ($360.51 million) through drawdowns against a portion of committed loans, 4 billion rand of which was received from China Development Bank (CDB), and the issuance of domestic bonds.

The struggling utility, which supplies more than 90 per cent of the electricity in Africa's most industrialised economy, said liquidity position stood at 7.7 billion rand at April. 30, 2019.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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