Boeing enters into $5.28 billion revolving credit agreement

Boeing Co said on Monday it had entered into a $5.28 billion, two-year revolving credit agreement, as the U.S. planemaker contends with a prolonged slowdown in commercial air travel fueled by the COVID-19 pandemic.

Earlier this month, Reuters reported that the company had approached a group of banks for a new $4 billion revolving credit facility and had the option to raise the size of to as much as $6 billion. (reut.rs/3rbbe5p)

Citigroup, JPMorgan Chase Bank, BofA Securities and Wells Fargo Securities are the joint lead arrangers and joint book managers, the planemaker said here on Monday.

The credit agreement is scheduled to end on March 19, 2023, Boeing said in a filing.

Investment-grade rated companies use revolving credit facilities as backstop financing, with these facilities remaining undrawn for the most part.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.