Bonds

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

Credit: REUTERS/MIKE HUTCHINGS

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.

LONDON, July 4 (Reuters) - 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 XS0958072240=TE added 0.7 cents in the dollar, while the 2028 issue XS1864522757=TE 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.

(Reporting By Tom Arnold; editing by David Evans)

((Tom.Arnold@thomsonreuters.com; +442075428510; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))

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