Boeing Rules Out Federal Aid After Raising $25 Billion of Bonds
- Airplane manufacturer issued debt in seven parts Thursday
- Company is cutting workforce and production to help liquidity
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Boeing Co. sold $25 billion of bonds in the largest offering this year, eliminating the need for more cash as the coronavirus pandemic upends the global aviation industry.
The planemaker won’t seek additional funding through the capital markets or U.S. government aid at this time, according to a company statement late Thursday after the debt sale. Executives had indicated on an earnings call Wednesday that Boeing was tapping some of the tax relief available through the CARES Act and exploring several financial vehicles offered by the Federal Reserve as well as Treasury Department loans.