Eskom bonds rise on Ramaphosa’s pledge to split utility

Dollar-denominated bonds issued by South African state power firm Eskom rose across the curve on Friday, a day after President Cyril Ramaphosa pledged to split the utility and support its balance sheet as part of a rescue plan.

Read: SA to split Eskom in rescue plan – Ramaphosa 

At 0745 GMT, the 2023 issue rose 0.13 cents to trade at 98.66 cents in the dollar and the 2025 bond rose a similar amount to change hands at 98.69 cents, according to Tradeweb data.

Read: Ramaphosa sets out plans to revive flagging economy