Govt pension fund unconcerned of debt

2012-05-03 09:24

The Government Employees Pension Fund, which holds 50% of the SA National Roads Agency Limited’s (Sanral) issued debt, is not unduly concerned about the agency’s potential debt servicing difficulties, Business Day reported today.

On April 28 Sanral’s plans to introduce e-tolling were halted by a last-minute court ruling.

According to the fund’s acting principal officer John Oliphant, although the fund held R15 billion in Sanral bonds, this represented only 1.5% of its total assets.

Oliphant, with other senior executives, was briefing Parliament’s portfolio committee on finance on Monday.

The bond market had hardly responded to the e-toll ruling, the daily reported.

Leon Myburgh, Citi’s sub-Saharan Africa strategist, told Business Day: “I don’t think the market is paying too much attention. Because there is a government guarantee, I think the market looks at it and says, ‘If Sanral doesn’t pay up, government will.’ ”

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.