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dam-l Rand Water to raise R200m in capital market/LS
Rand Water is the water utility that supplies Gauteng, and uses Lesotho
water project water.
June 8, 2000
Rand Water to raise R200m in capital market
SA's Rand Water is to raise R200m in the capital market in early July, Rand
Water's head of treasury, Gerrit van der Colff said Wednesday.
Rand Water will issue a 7-month paper with Rand Merchant Bank advising on
the transaction.
Van der Colff said the proceeds would be utilised to fund Rand Water's
ordinary capital projects.
"I do not think that we would be affected by the volatility in the currency
as investors are always looking at these kinds of investments. Also with our
reduced capital requirement, that will not pose any problem for the bond
market as this is not a big issue," said van der Colff.
According to Van der Colff, Rand Water will issue the long-dated paper by
February next year and the size would depend on investor appetite. Funding
on the medium to long end is expected to take place in the 7-year and the
12-year areas.
He said there was no pressing need to raise funds offshore. - I-Net Bridge
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Lori Pottinger, Director, Southern Africa Program,
and Editor, World Rivers Review
International Rivers Network
1847 Berkeley Way, Berkeley, California 94703, USA
Tel. (510) 848 1155 Fax (510) 848 1008
http://www.irn.org
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