South Carolina Issues Bonds to Lure Boeing: Muni Deal
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South Carolina will sell $85 million in debt this week to help Boeing Co. expand a plant as the state jockeys to manufacture the company’s largest twin-engine jet.
Proceeds from the general-obligation bonds, part of a $146 million issuance, will help cover land costs for Chicago-based Boeing’s 787 Dreamliner plant in North Charleston. The world’s largest aircraft maker plans to invest $1 billion over the next eight years to increase capacity, purchase 320 acres and add an information-technology center.