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 SOC Ltd’s $32bn 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 Ltd, Insight Investment Management and Aberdeen Standard Investments said they haven’t been approached about the debt plan, but believed a solution could be reached. Nedbank Group Ltd is involved in discussions
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