Boeing Loan Demand Hits $14 Billion in Boost to Planemaker
- Loan size to be at least $12 billion, to close in February
- Financing to give planemaker flexibility to manage jet fallout
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Boeing Co. has received orders of about $14 billion from around 20 banks for a loan which 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 the 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 Chief Financial Officer Greg Smith.