Boeing | Bond issue | 04-24 | $10bn | Transaction | Airfinance Journal

Boeing | Bond issue | 04-24 | $10bn

Boeing attracted huge demand as it returned to the high-grade market after a three-year absence with a $10 billion trade whose smooth execution belied its recent troubles.

The Boeing Company (Baa3/BBB-) dominated the calendar on 6 May with a six-tranche trade that accounted for almost 80% of the day’s supply.

Demand was strongest for the seven-year tranche, which attracted $9.4 billion of orders, and also for the three- and 40-year tenors, which saw order books of $8.4 billion and $7.6 billion, respectively.

The company sold $1 billion of 6.259% three-year notes at 145 bps over Treasuries, $1.5 billion of 6.298% five-year notes at 165 bps, $1 billion of 6.388% seven-year notes at 175 bps, $2.5 billionof 6.516% 10-year notes at 190 bps, $2.5 billion of 6.858% 30-year notes at 210 bps, and $1.5 billion of 7.008% 40-year notes at 225 bps.

Bank of America, Citigroup, JP Morgan and Wells Fargo were bookrunners.


Deal Categories

Regions:
North America
United States
Tagged as:
Unsecured
Debt Capital Markets
G8

Structure

Product category:
Other
Product type:
Aircraft purchase
Structure
Aircraft Purchase
Use of proceeds
Aircraft Purchase

Deal Categories

Regions:
North America
United States
Tagged as:
Secured
G8