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Eskom Debt Solutions: PIC Debt Equity Swap on the Cards (2/2)

SOUTH AFRICA
  • Other plans have been Govt taking debt onto its balance sheet with Eskom saying it cannot afford to service >R200bn of its debt
  • Credit analysts have been talking up Eskom debt as "materially cheap vs sovereigns"
  • Also a top 2021 pick with markets optimistic about CEO De Ruyter and Govt attending to the debt problem decisively
  • Major union COSATU has back the PIC solution, but many still oppose it as it shifts risk return characteristics for pension funds - bbg
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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