Question NW2223 to the Minister of Finance
09 October 2018 - NW2223
McLoughlin, Mr AR to ask the Minister of Finance
Whether he will furnish Mr A R McLoughlin with copies of all written agreements entered into by and between the Public Investment Corporation and Eskom in respect of any loans extended to Eskom from 1 January 2000, including all annexures and schedules to such agreements?
Reply:
Bonds issued by Eskom in which the PIC has invested through a public auction, form part of the Domestic Multi-Term Note Programme (DMTNP) which is registered with the Johannesburg Stock Exchange (JSE). The documentation pertaining to these bonds are publicly available. However, the PIC did two private placement transactions with Eskom, one for R20 billion in May 2015 and one for R5 billion in February 2018. The R20 billion private placement is split into four tranches of R5 billion each, of notes maturing between March 2020 and March 2032. The R5 billion private placement was a short-term (one month) bridging facility that was paid back with interest of approximately R30 million, on 1 March 2018. The agreements for these two private placement transactions are confidential and cannot be made public.