ANNOUNCED AS TEMPORARYNo
Bailout (capital injection or equity participation)
On February 5, 2017, the Public Investment Corporation (PIC) of South Africa provided Eskom, the national electricity public utility company, with a ZAR 5 billion (USD 415 million) loan to prevent the company's default. The loan's objective is to fund the company's operation for one month and is expected to be repaid in 30 days.
Eskom approached the PIC to alleviate what it claims are temporary liquidity constraints. At the time PIC issued the bridge financing, Eskom was seeking additional financing worth ZAR 20 billion from outside investors.
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