Boeing to Raise $25 Billion in Bond Offering; Second 777X Completes First Flight
Boeing announced on Thursday a positive response to their $25 billion bond offering which offers debt instruments across seven tranches with maturities from three to 40 years. In a separate press release, the company announced the first flight of their second 777X.
Yesterday (April 30, 2020), Boeing announced a positive response to their $25 billion bond offering and will therefore not seek additional funding through the capital markets or the U.S. Government at this time. The transaction is expected to close on Monday, May 4, 2020 and the bond offering includes debt instruments across seven tranches with maturities from three to 40 years. In Thursday’s announcement, the company stated in part,
“We’re pleased with the response to our bond offering today, which is one of several steps we’re taking to keep liquidity flowing through our business and the 17,000 companies in our industry’s supply chain.”
In a separate press release, the company announced the successful completion of the first flight of their second 777X. The aircraft was piloted by 777X Project Pilot, Captain Ted Grady and 777/777X Chief Pilot, Captain Van Chaney, who flew over Washington state for 2 hours and 58 minutes before landing at Seattle’s Boeing Field at 2:02 PM (Pacific). The aircraft is designated WH002 and is the second of four aircraft in the dedicated test fleet. The first 777X took flight last January and has since logged nearly 100 hours at a variety of flap settings, speeds, altitudes and system settings in the initial flight envelope evaluation. With airworthiness proven, the Boeing team can now add personnel to monitor onboard testing, rather than relying solely on a ground-based telemetry station.