{"id":10124,"date":"2024-04-30T07:00:09","date_gmt":"2024-04-30T04:00:09","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=10124"},"modified":"2024-04-30T07:00:09","modified_gmt":"2024-04-30T04:00:09","slug":"boeing-taps-debt-market-to-raise-10-billion","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=10124","title":{"rendered":"Boeing taps debt market to raise $10 billion"},"content":{"rendered":"
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Boeing (BA.N) on Monday tapped debt markets to raise $10 billion, after the US planemaker burned $3.93 billion in free cash during the first quarter following slowing production of its best-selling jet, sources familiar with the matter said.<\/p>\n

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Boeing\u2019s credit rating hovered above \u201cjunk\u201d status last week from rating agencies as the planemaker tries to recover from a crisis that began in January after a midair blowout of a cabin panel door plug on a nearly new 737 MAX 9.
\nInvestors and analysts have said Boeing could tap bond markets to get ahead of more than $12 billion in combined debt coming due in 2025 and 2026.
\nCredit rating agencies on Monday both assigned ratings nearing junk to Boeing\u2019s new senior unsecured notes, with S&P assigning a BBB- rating and Moody\u2019s assigning a Baa3 rating.
\nMoody\u2019s said the rating reflects Boeing\u2019s still-strong business profile, which continues to mitigate ongoing weak performance in commercial aircraft, although headwinds surrounding the division could persist through 2026.
\nBoeing will use the bond proceeds to increase its liquidity ahead of maturities on its existing debt load, including $4.3 billion in 2025, S&P wrote on Monday.
\n\u201cIt looks like it will go well,\u201d said one of the sources, who was looking at buying the bonds, adding that he was told it was eight times oversubscribed.
\nThe deal\u2019s bookrunners leading the bond sale include Bank of America, Citi, JPMorgan and Wells Fargo, according to the deal\u2019s term sheet.
\nBoeing declined to comment, but pointed to remarks from Chief Financial Officer Brian West during the company\u2019s earnings last week in which he said Boeing was committed to managing its balance sheet in a prudent manner, with the goal of prioritizing its investment-grade rating and helping the factory and supply chain to stabilize.<\/p>\n","protected":false},"excerpt":{"rendered":"

Boeing raised billion through debt markets after burning .93 billion in free cash during the first quarter.<\/p>\n","protected":false},"author":3,"featured_media":10125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1902,1612,186,1512,8374,279,8099,3178,5255,3,898,8373,641,250,3330,1823,2753,3404,8033,34,3331,2438,3138,4472,380,6305],"class_list":["post-10124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-bank","tag-boeing","tag-business","tag-cash","tag-cash-burn","tag-comment","tag-credit","tag-credit-rating","tag-crisis","tag-cyprus","tag-debt","tag-debt-markets","tag-earnings","tag-google","tag-google-news","tag-increase","tag-investment","tag-investors","tag-liquidity","tag-markets","tag-news","tag-oversubscribed","tag-performance","tag-supply-chain","tag-us","tag-who"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\nBoeing taps debt market to raise $10 billion<\/title>\n<meta name=\"description\" content=\"jet. 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