Eskom may borrow R1bn through a JSE-listed Sukuk, eight years after first floating the idea | BISouthAfrica
Eskom is – again – looking at issuing a Sukuk to broaden its base of debtors and manage the cost of its borrowing.
It could issue instruments worth R1 billion, and it is looking to a government guarantee and a possible listing on the JSE for the instruments. Eskom has been talking about a Sukuk issue since at least 2012, with new flare of interest in 2014, after SA's first sovereign issue.go to www.BusinessInsider.co.zaEskom could finally be tapping into money from the Gulf region and Malaysia through a Sukuk soon, after eight years of considering such an instrument.Tender documents for the project
show that the company intends a rand-denominated Sukuk, listed on the JSE, with a government guarantee. Eskom would like to"diversify funding sources and execute cost effective funding at acceptable risk" up to 2025, it told potential suppliers who could help it get the instrument off the ground.. In 2015 the South African Treasury issued its first Sukuk, a $500 million instrument it described as a"drive to broaden the investor base and to set a benchmark for state-owned companies seeking diversified sources of funding for infrastructure development.
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