Boeing Refreshes Credit Lines with New Revolver and Extended Facilities
Airplane manufacturer Boeing has strengthened its financial flexibility by entering into new credit facilities and extending existing ones. The company secured a $3.0 billion 364-day revolving credit facility led by Citibank and JPMorgan, which will provide liquidity for the next year. This new line replaces an expiring $3.0 billion 364-day revolver that had been in place.
The terms of the new facility include SOFR-based pricing tied to Boeing's credit ratings and options to convert borrowings into term loans or seek a 364-day extension. Additionally, the company extended its $4.0 billion 2024 five-year facility to May 15, 2030, and its $3.0 billion 2023 five-year facility to August 24, 2029.
The amendments to these facilities add a $5.0 billion minimum liquidity covenant, which is intended to strengthen Boeing's liquidity requirements. The actions are designed to support the company's financial flexibility, extend maturities, and align covenants across its credit platforms.