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Eskom to sell $1.5 billion 10-year notes on Thursday in two parts
By Rebecca Melvin
New York, Aug. 2 – South Africa’s Eskom Holdings SOC Ltd. plans to price $1.5 billion of notes in dual 10-year tranches on Thursday, according to a market source.
The $1 billion of 10-year notes, which is guaranteed by the South African government, (expected ratings: Baa3/BB) was talked at a yield of 6½% to 6 5/8%, and the $500 million tranche of 10-year notes that are non-guaranteed were guided to yield 8 5/8% to 8¾%.
Barclays, JPMorgan, Standard Bank and ABSA Bank are bookrunners for the Rule 144A and Regulation S deal.
Eskom Holdings is a state-owned electricity provider based in Johannesburg.
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