Bondholders of South Africa’s state-owned electricity company are watching the latest round of rescue talks from a distance. Yields suggest they’re confident their money is safe, whether or not the discussions result in a sustainable solution for Eskom Holdings’ $32-billion debt pile. Eskom’s risk premium over South African sovereign debt narrowed to a 19-month low last week and remained near that level even amid global bond turmoil. Investors including T Rowe Price International, Insight Investment Management and Aberdeen Standard Investments said they haven’t been approached about the debt plan, but believed a solution could be reached.
