UK markets close in 5 hours 12 minutes
  • FTSE 100

    6,936.43
    -63.65 (-0.91%)
     
  • FTSE 250

    22,390.14
    -100.72 (-0.45%)
     
  • AIM

    1,243.50
    -8.35 (-0.67%)
     
  • GBP/EUR

    1.1590
    -0.0026 (-0.22%)
     
  • GBP/USD

    1.3973
    -0.0011 (-0.08%)
     
  • BTC-GBP

    39,475.43
    -1,253.86 (-3.08%)
     
  • CMC Crypto 200

    1,244.80
    -54.15 (-4.17%)
     
  • S&P 500

    4,163.26
    -22.21 (-0.53%)
     
  • DOW

    34,077.63
    -123.04 (-0.36%)
     
  • CRUDE OIL

    63.95
    +0.57 (+0.90%)
     
  • GOLD FUTURES

    1,767.40
    -3.20 (-0.18%)
     
  • NIKKEI 225

    29,100.38
    -584.99 (-1.97%)
     
  • HANG SENG

    29,135.73
    +29.58 (+0.10%)
     
  • DAX

    15,242.51
    -125.88 (-0.82%)
     
  • CAC 40

    6,212.52
    -84.17 (-1.34%)
     

Boeing enters into $5.28 billion revolving credit agreement

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: The Boeing logo is displayed on a screen, at the NYSE in New York
  • Oops!
    Something went wrong.
    Please try again later.

(Reuters) - Boeing Co said on Monday it had entered into a $5.28 billion, two-year revolving credit agreement, as the U.S. planemaker contends with a prolonged slowdown in commercial air travel fueled by the COVID-19 pandemic.

Earlier this month, Reuters reported that the company had approached a group of banks for a new $4 billion revolving credit facility and had the option to raise the size of to as much as $6 billion. (https://reut.rs/3rbbe5p)

Citigroup, JPMorgan Chase Bank, BofA Securities and Wells Fargo Securities are the joint lead arrangers and joint book managers, the planemaker said https://www.sec.gov/ix?doc=/Archives/edgar/data/12927/000119312521089532/d149318d8k.htm on Monday.

The credit agreement is scheduled to end on March 19, 2023, Boeing said in a filing.

Investment-grade rated companies use revolving credit facilities as backstop financing, with these facilities remaining undrawn for the most part.

(Reporting by Shreyasee Raj; Editing by Sriraj Kalluvila)