Govt auctions R1.2bn in bonds as Eskom bailout, revenue shortfall poke holes in budget | IOL Business Report

JOHANNESBURG – The National Treasury on Thursday announced a R1.2 billion increase in the fixed-rate and inflation-linked bonds weekly auction, from R3.3bn to R4.5bn.

Government entities regularly issue bonds and list them on the Johannesburg Stock Exchange debt board to raise funds for large capital projects, and investors lend money to these entities by buying the bonds. Treasury said that the inflation-linked bond auction amount will increase by R280 million, from R760m to R1.04bn.

The increase will be effective for the fixed-rate and inflation-linked bond auctions as of August 6 and August 16, 2019 respectively.

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