Boeing ups revolvers to $2.39 billion and $2.45 billion, extends terms

By Susanna Moon

Chicago, Oct. 31 - Boeing Co. amended its $2.3 billion 364-day revolving credit facility and $2.3 billion five-year revolving credit facility, pushing out the agreements by about another year, according to an 8-K filing with the Securities and Exchange Commission.

In addition, total commitments were increased to about $2.39 billion and $2.45 billion, respectively.

The 364-day credit agreement is now set to end on Nov. 6, 2014, extended by another 364 days, with an option to convert outstanding borrowings into term loans with a maturity date of Nov. 6, 2015.

The five-year credit agreement will now mature on Nov. 10, 2018 for about $2.39 billion of the total commitments, and on Nov. 10, 2017 for the remaining commitments. The five-year agreement was extended by another year.

The company entered into the credit agreement on Nov. 10, 2011 with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the joint lead arrangers and joint book managers. JPMorgan Chase Bank, NA was the syndication agent, and Citibank, NA was the administrative agent.

Boeing is an aircraft manufacturer based in Chicago.

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