South Africa’s indebted power utility Eskom Holdings plans to issue a R1-billion sukuk bond as it tries to diversify funding sources to reduce borrowing costs. Eskom has appointed a lead arranger “to work towards establishing time lines for the issue,” spokesperson Sikonathi Mantshantsha said in an emailed response to questions on Monday. The utility has about R450-billion in debt and no current plans to ask the government for additional cash injections.
