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South Africa's Eskom dollar bonds rally as govt weighs extra support options

LONDON: Dollar-denominated bonds issued by South Africa's Eskom gained on Thursday after a senior treasury official
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By Parvez JabriReuters

LONDON: Dollar-denominated bonds issued by South Africa's Eskom gained on Thursday after a senior treasury official said the government was weighing extra options to support the struggling state power firm.

The 2023 issue added 0.7 cents in the dollar, while the 2028 issue gained 0.5 cents in the dollar, according to Tradeweb data.

The support included swapping Eskom's debt for government bonds or ring-fencing it in a special account, Reuters reported on Wednesday, citing a senior treasury official.

Copyright Reuters, 2019

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