Eskom inks R13bn loan
5 January 2010
South African state power company Eskom has signed a loan agreement of about R13-billion with the French Export Credit Agency (ECA) for the commissioning of its Medupi and Kusile power plants.
The fixed interest rate loan of €1.185-million, covered by the ECA, Coface, will be used to fund part of the eligible foreign content of the Medupi and Kusile turbine contracts with Alstom S & E Africa, Eskom Holdings said in a statement last week
The agreement was signed between Eskom and five French banks as lenders, namely BNP Paribas, Calyon, Societe Generale, Natixis and CIC.
BNP Paribas acted as Documentation Bank, Facility Agent and ECA Agent.
The loan is re-payable over 12 years after the commissioning of the relevant units of the Medupi and Kusile power stations, Eskom said.
Sapa
