In South Africa, the public company Eskom has announced that it could raise between USD 750 million and one billion through the issuance of an international bond. According to Anoj Singh, the Financial Operations Manager of the company who talked to Reuters, the amount raised will depend on market conditions. The manager added: “Every time we will have the opportunity to resort to the international market for our financing, we will do so”.

However, the downgrade of Eskom’s rating by Standard & Poor’s last March could lead to an increase in the rate at which the public company would borrow. But this risk does not seem to bother Eskom’s CEO.

Brian Molefe (photo) indicated indeed that his company received positive feedback from investors. “They asked us when we would launch our offer on the market and they gave us indications which point towards their interest in the operation”. Eskom, which is riddled with financial difficulties, must fight with an aging infrastructure to continue providing electricity to South Africans.