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Bond Market News
Boeing-Spirit AeroSystems Acquisition Approved
February 3, 2025
Boeing’s acquisition of Spirit AeroSystems was approved by the latter’s shareholders, clearing the path for the deal to close by mid-2025. The deal aims to streamline Boeing’s supply chain and improve production issues with Spirit historically being a key supplier of aerostructures for Boeing. Keeping Spirit under its direct control is expected to ensure tighter oversight and better quality assurance for Boeing. The transaction was announced last year at an enterprise value of $8.3bn. Separately, Boeing reported its sixth consecutive annual loss during the previous year. It reported a $11.8bn loss of which $3.8bn came solely in the three months to the end of December, having been impacted by strikes. This was its worst loss since the pandemic, and the company has now seen a combined $36bn in losses over the six years since 2019.
Boeing’s dollar bonds traded stable, with its 5.15% 2030s at 99.3, yielding 5.3%.
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