Official announcements from Boeing or relevant labor unions

Boeing Secures $10 Billion Credit Agreement, Files for $25 Billion Shelf Registration as Stock Rises 2.8%

Oct 15, 2024, 11:15 AM

Boeing has entered into a $10 billion supplemental credit agreement with major banks, including Bank of America, Citibank, Goldman Sachs, and JPMorgan Chase. This move is aimed at shoring up its balance sheet amid financial pressures from an ongoing strike and significant debt obligations. Additionally, Boeing has filed for a mixed shelf registration to potentially raise up to $25 billion through securities and stock sales. The company is preparing for $11.5 billion in debt maturing by February 2026 and is facing a $1 billion per month strike and a $4.7 billion share issuance for Spirit AeroSystems. Boeing's stock rose 2.8% following the announcement of the credit agreement, and shares rose 2% premarket.