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Boeing Launches $19 Billion Share Sale to Thwart Downgrade
- Company sells 90 million common, $5 billion depositary shares
- Fundraising could approach $22 billion with overallotments
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Boeing Co. launched a nearly $19 billion share sale, one of the largest ever by a public company, to address the troubled planemaker’s liquidity needs and stave off a potential credit rating downgrade to junk.
The company offered to sell 90 million common shares and about $5 billion of depositary shares, according to a statement Monday, confirming an earlier Bloomberg News report.