Boeing secures $3.8bn new financing

Boeing has secured two credit facilities from lenders, Citibank and JPMorgan, for a total of $3.8 billion. This financing replaces the US manufacturer’s existing $5.8 billion, 364-day revolving credit agreement, which was scheduled to terminate on August 24, 2023. Boeing has secured one 365-day $800 million revolving credit agreement and a separate $3bn five-year revolver, both with Citibank and JPMorgan as joint lead arrangers and joint book managers. For the 365-day revolver, Boeing will pay a fee of between 0.125% and 0.3% annually, and SOFR + between 1.250% and 1.7% per annum, both are linked to Boeing’s credit rating. The