Aerospace giant Boeing has priced senior notes worth US$750m in three tranches for general corporate purposes.
The bond is split into maturities dated 2025, 2035 and 2045 at US$250m each.
Its 2.5% bond due 2025 priced at 97.589%, the 3.3% notes due…
Aerospace giant Boeing has priced senior notes worth US$750m in three tranches for general corporate purposes.
The bond is split into maturities dated 2025, 2035 and 2045 at US$250m each.
Its 2.5% bond due 2025 priced at 97.589%, the 3.3% notes due 2035 priced at 97.052%, and those carrying a 3.5% coupon due 2045 were priced at 96.286%.
JP Morgan, Citigroup, Deutsche Bank, BNP Paribas, Mizuho, RBS, Goldman Sachs, RBC, SMBC Nikko, US Bancorp, BofA Merrill Lynch, Morgan Stanley, Barclays, MUFG and Wells Fargo are the joint book-running managers.
It comes a week after the group said it was consolidating several defence and space programmes into a new unit called BDS Development to improve their management.
The development programmes include Boeing’s 502 small satellite effort, its CST-100 spacecraft for NASA’s commercial crew programme, and work on NASA’s Space Launch System rocket.
“This BDS Development organisation is the next step in breaking the cost curve on our programmes,” said Chris Chadwick, CEO of Boeing Defense, Space and Security (BDS).
“We expect our customers to see step-function improvements in affordability and schedule performance as we more effectively apply engineering expertise, development programme best practices, and program management and integration from across Boeing to our most important development activities.”
BDS Development will be led by Jim O’Neill, formerly president of the BDS Global Services & Support unit.
He will be succeeded by BDS CFO Leanne Caret, who will in turn be replaced by Jim Zrust, Boeing’s corporate vice president of tax.
