Boeing has announced a $25bn bond deal that aims to ensure cash flow during the Covid-19 coronavirus pandemic without tapping into federal assistance.
The deal comes after the embattled aeroplane and defence company posted a Q1 loss of $641m and reported it had burnt through $4.3bn in cash.
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Boeing said it was pleased with the response to the bond offering, adding it ‘is one of several steps we’re taking to keep liquidity flowing through our business and the 17,000 companies in our industry’s supply chain.’
As a result of securing $25m from the bond offering the company said at the moment it was not planning to seek any additional capital or US government funding.
In a statement, the company added: “The bond offering includes debt instruments with an aggregate principal amount of $25 billion across seven tranches with maturities ranging from three to 40 years.
“We will continue to assess our liquidity position as the health crisis and our dynamic business environment evolve.”
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