Eskom sets roadshow for U.S. dollar notes with up to 10-year tenor

By Rebecca Melvin

New York, July 27 – South Africa’s Eskom Holdings SOC Ltd. has mandated banks and scheduled a series of fixed-income investor meetings for a planned offering of U.S. dollar-denominated notes with a maturity of up to 10 years, according to a market source.

The notes will be guaranteed by the government of South Africa, and a non-guaranteed tranche is also being considered.

Barclays, JPMorgan, Standard Bank and ABSA Bank are bookrunners for the Rule 144A and Regulation S deal.

Meetings are slated in London and the United States beginning next week through Wednesday, with a deal to follow subject to market conditions.

Eskom Holdings is a state-owned electricity provider based in Johannesburg.

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