Some investors are getting out of Eskom Holdings dollar bonds amid concern South Africa is taking too long to implement a turnaround plan and explain what it will do about the utility’s $35-billion of debt. Yields on the struggling power company’s dollar bonds due 2025 climbed to a one-month high on Wednesday, even though the government’s R138-billion bailout has bought it some time to reorganize its finances. Besides concern over the debt load, investors want to see faster progress on operational and organizational changes meant to return the company to sustainability.
