Boeing-Lockheed Joint Venture Taps Private Bond Market for $500M Refinancing

Boeing Co. and Lockheed Martin Corp. have entered into a joint venture to sell private bonds in order to refinance debt for their rocket launch provider, United Launch Alliance (ULA).

The ULA, which serves the US military and commercial clients such as Amazon.com Inc., is seeking to raise approximately $500 million through a private placement.

This move allows the joint venture to tap into the private bond market, rather than traditional public markets. The specific details of the deal are not publicly disclosed, but sources familiar with the matter indicate that it will involve raising around half a billion dollars in private bonds.