Boeing is pushing ahead with a $25 billion bond offering to shore up liquidity after reporting a negative operating cash flow of $4.3 billion in the first quarter due to the impact of the 737 Max grounding and Covid-19. The deal will price on 4 May. Joint bookrunning managers on the deal include Citigroup, Bank of America Securities, JP Morgan and Wells Fargo Securities.
Fitch Ratings has assigned a BBB rating to the senior unsecured notes. The notes will be issued in multiple parts with maturities ranging from 2022 to 2060.
Proceeds will be used for general corporate purposes, which Fitch expects will include paying down commercial paper balances and debt maturities.
