Boeing Enters New Material Definitive Agreement
Ticker: BA-PA · Form: 8-K · Filed: Oct 15, 2024 · CIK: 12927
| Field | Detail |
|---|---|
| Company | Boeing Co (BA-PA) |
| Form Type | 8-K |
| Filed Date | Oct 15, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $5.00, $10.0 billion, $250 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, debt, agreement
Related Tickers: BA
TL;DR
Boeing just signed a new financing deal, adding to its debt obligations.
AI Summary
On October 14, 2024, The Boeing Company entered into a material definitive agreement, specifically a financing arrangement. This agreement creates a direct financial obligation for the registrant, indicating new debt or a similar financial commitment. The filing details this obligation and includes related exhibits.
Why It Matters
This filing signals a new financial obligation for Boeing, which could impact its debt levels and financial flexibility.
Risk Assessment
Risk Level: medium — Entering into new financial obligations can increase a company's leverage and financial risk.
Key Players & Entities
- The Boeing Company (company) — Registrant
- October 14, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 929 Long Bridge Drive, Arlington, VA 22202 (address) — Principal executive offices
FAQ
What type of material definitive agreement did Boeing enter into?
The filing indicates that Boeing entered into a financing arrangement that creates a direct financial obligation for the registrant.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on October 14, 2024.
What is Boeing's principal executive office address?
Boeing's principal executive offices are located at 929 Long Bridge Drive, Arlington, VA 22202.
Under which section of the Securities Exchange Act is this report filed?
This Current Report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What is Boeing's IRS Employer Identification Number?
Boeing's IRS Employer Identification Number is 91-0425694.
Filing Stats: 1,049 words · 4 min read · ~3 pages · Grade level 11.3 · Accepted 2024-10-15 06:00:40
Key Financial Figures
- $5.00 — ange on which registered Common Stock, $5.00 Par Value BA New York Stock Exchange
- $10.0 billion — oeing Company ("Boeing") entered into a $10.0 billion supplemental credit agreement (the "Cre
- $250 million — reement) or to incur liens in excess of $250 million or merge or consolidate with another en
Filing Documents
- ba-20241014.htm (8-K) — 31KB
- a202410oct148k-ex101.htm (EX-10.1) — 587KB
- 0000012927-24-000068.txt ( ) — 834KB
- ba-20241014.xsd (EX-101.SCH) — 2KB
- ba-20241014_lab.xml (EX-101.LAB) — 21KB
- ba-20241014_pre.xml (EX-101.PRE) — 12KB
- ba-20241014_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On October 14, 2024, The Boeing Company ("Boeing") entered into a $10.0 billion supplemental credit agreement (the "Credit Agreement") with BofA Securities, Inc. ("BofA"), Citibank, N.A. ("Citibank"), Goldman Sachs Lending Partners LLC ("Goldman") and JPMorgan Chase Bank, N.A. ("JPMorgan") as joint lead arrangers and joint book managers, Citibank as administrative agent and BofA, Goldman and JPMorgan as co-syndication agents, and a syndicate of lenders as defined in the Credit Agreement. Under the Credit Agreement, Boeing will pay a funding fee of 0.50% of the aggregate principal amount of each advance made under the Credit Agreement. Under the Credit Agreement, Boeing will also pay a duration fee between 0.50% and 1.00% of the aggregate amount of outstanding advances and unused commitments under the Credit Agreement, which shall be payable 90 to 270 days after the closing date, as applicable. Borrowings under the Credit Agreement that are not based on the secured overnight funding rate ("SOFR") will bear interest at an annual rate equal to the highest of (1) the rate announced publicly by Citibank, from time to time, as its "base" rate, (2) the federal funds rate plus 0.50% and (3) Adjusted Term SOFR (as defined in the Credit Agreement) for a period of one month plus 1.00%, in each case plus between 0.375% and 1.00%, depending on Boeing's credit rating. Borrowings under the Credit Agreement that are based on SOFR will generally bear interest based on Adjusted Term SOFR (as defined in the Credit Agreement) plus between 1.375% and 2.00%, depending on Boeing's credit rating. Commitments under the Credit Agreement are scheduled to terminate 120 days after the date of the Credit Agreement and any outstanding advances mature 364 days after the date of the Credit Agreement. The Credit Agreement contains customary terms and conditions, including covenants restricting Boeing's ability to permit consolidated debt (as
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description 10.1 Supplemental Credit Agreement, dated as of October 14, 2024, among The Boeing Company, as a Borrower, the Lenders party thereto, Citibank, N.A., as administrative agent, BofA Securities, Inc., Goldman Sachs Lending Partners LLC, and JPMorgan Chase Bank, N.A., as co-syndication agents and BofA Securities, Inc., Citibank N.A., Goldman Sachs Lending Partners LLC and JPMorgan Chase Bank, N.A., as joint lead arrangers and joint book managers 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. THE BOEING COMPANY By: /s/ John C. Demers John C. Demers Vice President, Assistant General Counsel and Corporate Secretary Dated: October 14, 2024