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Bond Market News
Boeing Said to Explore Sale of Jeppesen for $6bn
November 11, 2024
Boeing’s bonds traded higher across the curve. The planemaker is exploring a possible sale of its Jeppesen navigation unit for about $6bn, as per Bloomberg. The report noted that Jeppesen could attract sizable interest from private equity firms and other companies, which could fetch more than $6bn. No formal announcement has been made by Boeing yet. Separately, Boeing and Spirit Aerosystems are said to be close to reaching a funding agreement that would give a cash lifeline to Spirit. The source said that a deal could be announced in the next few days. Spirit is reeling under losses for a fourth consecutive year, and expects to burn around $450-500mn in cash over the last three months of 2024 and first half of 2025.
Boeing’s 6.528% 2034s were up 1.5 points to 106.1, yielding 5.67%.
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