Pylons carry electricity from a sub-station of state power utility Eskom outside Cape Town

South Africa's Eskom bonds rise on Ramaphosa's pledge to split utility

JOHANNESBURG (Reuters) - Dollar-denominated bonds issued by South African state power firm Eskom rose across the curve on Friday, a day after President Cyril Ramaphosa pledged to split the utility and support its balance sheet as part of a rescue plan.

At 0745 GMT, the 2023 issue rose 0.13 cent to trade at 98.66 cents in the dollar and the 2025 bond rose a similar amount to change hands at 98.69 cents, according to Tradeweb data.

(Reporting by Alexander Winning; Editing by James Macharia)

2019-02-08 10:02:22

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