Eskom Picks Dollar Bond Sale Managers

Eskom Holdings has appointed a consortium of banks to manage the sale of its dollar-denominated bonds.

Eskom Holdings has appointed a consortium of banks to manage the sale of its dollar-denominated bonds, Bloomberg reports. The African power company has hired Barclays Capital, Bank of America Merrill Lynch and JPMorgan Chase to oversee the sale of the benchmark dollar bonds.The company faces an estimated $27.9 billion funding shortfall until March 2017. Earlier in March 2006, Eskom raised a total of $646 million in a sale of 4% securities. The size of the bond issue will be determined during discussions with investors.

Click here for the story from Bloomberg.