Overview:

• South African electricity public utility Eskom has secured a $1.34 billion loan from the African Development Bank (AfDB). 
• The syndicated A/B loan has been extended to support the utility's capital expenditure programme, and is the largest of its kind to be arranged in Africa so far.
• $965 million of the funds will be financed through agreements with Bank of China, Bank of Tokyo-Mitsubishi, CaixaBank, Citibank, HSBC, JP Morgan Chase, KfW IPEX Bank, Siemens Bank and Standard Chartered.
• The South African state has guaranteed the loan.
• Eskom's capital expenditure program should expand South Africa's electricity generation by 11,000 MW and increase its transmission network by 9,500 km.
• The loan is part of the bank's New Deal on Energy for Africa, a partnership designed to light up and power the continent by 2025.

John Crabb - Journalist - EMEA

Read further analysis of this deal on IFLR.com