In a statement, Boeing said that it was “pleased with the response to our bond offering”. That’s an understatement since reports state that the $25bn bond offering, across seven tranches, ranging from three-year to forty-year paper, was lapped up by investors. Boeing attributes the robust demand to the “strong support for the long-term strength of Boeing and the aviation industry” and well as the “confidence in the market created by the CARES Act and federal support programs that have been put in place”.
Due to the success of the bond issuance, Boeing says that it does not plan “to seek additional funding through the capital markets or the US government options at this time”. Although the manufacturer states that it “will continue to assess our liquidity position as the health crisis and our dynamic business environment evolve”.
Lead joint bookrunners were Citi, BofA Securities , JPMorgan and Wells Fargo.