Search
 
News

Boeing Loan Demand Hits $14 Billion

Planemaker's top seven banks are providing support as costs of grounding the 737 Max total an estimated $18 million.

By Paula Seligson & Jeannine Amodeo | January 29, 2020 at 05:41 PM

Boeing Co. has received orders of about $14 billion from around 20 banks for a loan that will give the planemaker more financial flexibility to manage the fallout from its grounded 737 Max jetliners, according to people familiar with the matter.

On an earnings call this morning, Boeing said it had received enough commitments to enter into a $12 billion term-loan facility. “Based on the strong demand, the size of facility could exceed this amount when the transaction closes in February,” said CFO Greg Smith.

The loan deal is expected to close on February 6, the people said. It was initially marketed at a size of $10 billion with potential to grow.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Inflation and Labor Are Cooling

Inflation and Labor Are Cooling

Augusta Saraiva |

Fed rate hikes are on hold for now, but some think inflation and the soft job market will lead to cuts in the near future.

Global Bonds Power Ahead

Global Bonds Power Ahead

Rita Nazareth |

Dovish bets take hold, with soft economic readings in both the U.S. and Europe fueling speculation that central banks will cut rates in 2024.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.