Boeing Co, the aerospace multinational corporation, has announced its plans to raise up to $25 billion in loans to reinforce its balance sheet amid the ongoing global pandemic. This financial undertaking is a strategic move aimed at strengthening the company’s liquidity and necessary provisions for uncertain times.
The COVID-19 outbreak has dealt a severe blow to industries worldwide and the aerospace sector has been significantly impacted. With air travel severely curtailed and many airlines grounding their fleets or delaying deliveries of new aircraft, Boeing’s revenues have been harshly impacted.
The company has been facing a liquidity crisis, and the proceeds from this debt offering will provide a much-needed cash infusion to help the corporation keep its operations going during these tough times.
Further details about the interest rates, terms of the loans, and how the funds are to be allocated were not immediately disclosed.
