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ESKOM SCORES $2.5BN LOAN FROM CHINA DEVELOPMENT BANK

Troubled state-owned power utility Eskom scored big today, signing a $2.5 billion (about R33 billion) term facility agreement with the China Development Bank, in a bid to plug the holes in its balance sheet. Eskom chief executive Phakamani Hadebe said the $2.5 billion loan agreement was “strategic” for the power …

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Eskom signs agreement with China Development Bank

Eskom and the China Development Bank (CBD) have signed an inaugural $500 million (R7 billion) credit facility agreement that will go towards the parastatal’s capital expenditure programme. “The successful execution of this credit facility increases the funding secured for financial year 2016/17 to R51 billion, meaning we have secured 75% …

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