The utility, one of the victims of state capture by the Gupta Brothers, on Friday said the loan would form part of its current capital expenditure programme.
The state-owned Eskom’s books show that it has a US$30 billion debt it has to service.
Due to this, the utility has applied to regulators for tariff increases of 15percent over the next three years as part of its plan to help it service the massive debt.
“We have just secured a $1.1 billion loan facility with a number of local and international banks. This is going to help us improve our liquidity position. You will remember that at the beginning of this financial year we were starting from a very low base.
“But fortunately, through the relationships that we have with many of these banks, we have been able to generate just over $4.3 billion of the $5.1 billion that we need,” Eskom Spokesperson Khulu Phasiwe said on Friday.