(Reuters) - Boeing Co has approached a group of banks for a new $4 billion revolving credit facility, according to a person familiar with the matter, as the planemaker battles a prolonged slowdown in commercial air travel due to the COVID-19 pandemic.
Investment-grade rated companies use revolving credit facilities as backstop financing, with these facilities remaining undrawn for the most part.
The U.S. jet manufacturer has the option to raise the size of the two-year credit facility to as much as $6 billion, the person said on Thursday.
A Boeing spokesman declined to comment. The development was earlier reported by Bloomberg News.
Boeing Chief Financial Officer Greg Smith had discussed raising more debt at the company’s quarterly earnings call in January.
Smith said Boeing has “sufficient liquidity” currently, but it continues to consider all options to strengthen its balance sheet.
Reporting by Joshua Franklin in Boston, Eric M. Johnson in Seattle and Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta
"looking" - Google News
March 05, 2021 at 05:30AM
https://ift.tt/3kNRSBz
Boeing looking for new $4 billion revolving credit facility - source - Reuters
"looking" - Google News
https://ift.tt/2tdCiJt
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Boeing looking for new $4 billion revolving credit facility - source - Reuters"
Post a Comment