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Plan to restructure R400bn debt of Eskom due in 2019

More details to be unveiled in the new year.

South Africa’s government is discussing restructuring the debt of ailing power utility Eskom but will only give details of what it plans to do next year, Public Enterprises Minister Pravin Gordhan said on Thursday.

“That’s an issue that is being discussed in government and some time in the New Year government as a whole will give you some idea of where we are going,” Gordhan said referring to the firms debt of over R400 billion ($28 billion).

 

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Yes, wait until after Christmas. You never know, maybe Santa will bail them out!

…yes, and I wonder how big the Christmas stocking must be, to accommodate R400billion in notes or gold bars 😉

didn’t China already gave a loan of which the T&C are so vague?

Repackage it before or after the down grade ?
Bonds are sitting 9%, with a record of making things ungovernable and property rights in question who wants to buy?

Unless they give me 30% PA I would not even put R1 into it.

Let me guess give it to the Chineese and watch them expropriate land like they did in Sri Lanka and else where.

….I’m afraid sooner or later our Govt will need the expand their vocabulary to “Ni hao” 你好 and 拜托,我们可以借更多的钱 (“please, can we borrow more money?”).

” bakhand ” gesture will suffice.

How about a debt restructuring over 72 months (max), with a 30% BALLOON/RESIDUAL VALUE at the end? *lol*

don’t you have the wrong photo???…….looks like de Klerk when he was about 50 😉

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