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Boeing files registration statement for securities, stock sale of up to $25 billion
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Boeing files registration statement for securities, stock sale of up to $25 billion
Oct 17, 2024 12:38 PM

(Reuters) - Boeing filed a registration statement with the U.S. markets regulator on Tuesday that will allow the planemaker to raise up to $25 billion through an offering of various debt securities and classes of stock.

It was not clear when and how much Boeing will raise via the offering, but analysts and investors expect the company to raise money before the year end amid looming debt maturities.

Earlier on Tuesday, Boeing also entered a credit agreement worth $10 billion with a consortium of banks.

The company had cash and cash equivalents of $10.89 billion as of June 30.

Last month, Chief Financial Officer Brian West said at a Morgan Stanley conference that the company was "constantly evaluating our capital structure and liquidity levels to ensure that we could satisfy our debt maturities over the next 18 months while keeping confidence in our credit rating as investment grade."

Boeing has $11.5 billion of debt maturing through Feb. 1, 2026, and has committed to issuing $4.7 billion of its shares to acquire Spirit AeroSystems and assume its debt.

Reuters reported earlier this month Boeing was examining options to raise billions of dollars through a sale of stock and equity-like securities.

Boeing delivered 33 jets in September, down from 40 in August.

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