PIC Provides Lifeline Credit Facility to Eskom

Posted on 02/07/2018

South Africa’s Public Investment Corporation (PIC) lent 5 billion ZAR (US$ 411 million) in a bridge facility to Eskom, a cash-depraved state-owned utility. Eskom is experiencing cash liquidity issues as profits fall and debts grow. The bridge loan helps fund the utility’s operations for the month of February 2018. The loan is backed by a […]