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Bond Market News
Boeing Considering Raising $15bn via Stock and Convertible Bonds After Oct 23: Sources
October 17, 2024
Boeing is said to be considering raising $15bn via a mix of roughly $10bn in stock and $5bn via a mandatory convertible bond, as per sources. This comes just a couple of days after the company said that it was planning to raise $25bn via the above instruments, alongside a $10bn credit facility through major lenders like Bofa, Goldman Sachs and others. Some sources said that representatives from the lenders were also trying to see the appetite for a combined offering of shares and the convertible bond. As per one of the sources, the planemaker is expected to launch and price the bonds after its earnings call on October 23, whilst also expecting the labor strike to be resolved by then. An analyst noted that the $15bn funding may not be enough to address its finances.
Boeing’s bonds traded higher with its 3.3% 2035s at 79.7, yielding 5.95%.
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