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Eskom – ECA-backed financing
26 March 2010
Banks combine to power Eskom
MLAs: KfW IPEX-Bank; BTMU; Deutsche Bank; HSBC; Standard Bank of South Africa; Nedbank; Rand Merchant Bank
Borrower: Eskom Holdings
Financial adviser: ANZ
Amount: e705 million
ECAs: Euler Hermes
Tenor: 18-years
Lawyers: Allen & Overy; Edward Nathan Sonnenbergs for lenders; White & Case for borrower
Eqpt exporter: Hitachi Power Europe |
South Africa’s infrastructure needs are considerable, and the power sector has probably more urgent needs than most. So it comes as little surprise that the government has made power generation a priority.
This deal is another in the cycle of purchasing arranged by South African power provider Eskom. Australian bank ANZ acted as financial adviser to Eskom. The resultant financing provided export finance to Eskom at a critical time when the company needed to close funding gaps...
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