Reportedly, Boeing Co (BA) has entered into a $5.28 billion, two-year revolving credit agreement as the aerospace giant is facing severe crisis and slowdown further pushed by the pandemic. The credit agreement is scheduled to end on March 19, 2023.
“We have no current plans to draw on our credit revolvers, as we continue to be confident that we have sufficient liquidity and are not planning to increase our debt levels,” stated Chief Financial Officer Greg Smith.
JPMorgan Chase Bank, Citigroup, Wells Fargo Securities, and BofA Securities are the joint lead arrangers and joint book managers, the company informed. Revolving credit facilities are used by Investment-grade rated companies as backstop financing, with these facilities usually undrawn for the most part.
Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space, and security systems. To learn more about Boeing (BA) and to track its ongoing progress please visit the Vista Partners Boeing (BA) Coverage Page.
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