Eskom has requested the National Treasury to convert 16-billion-rand of bailout funds into equity

Eskom has requested the National Treasury to convert 16-billion-rand of bailout funds into equity in a bid to alleviate its debt-service burden. According to a report by Moneyweb, Eskom officials told investors that an application has been made to convert the subordinated loan into equity. The report indicates that the conversion into equity would lessen a debt-service burden that has prevented Eskom from carrying out adequate maintenance. This is the company’s seventh consecutive annual loss.