Boeing receives $12b of orders for new loan

Bloomberg

Boeing Co has received more than $12 billion of orders for a loan that will help bolster the planemaker’s finances as it grapples with a crisis that’s left its 737 Max grounded since March, according to people familiar with the matter.
The deal was expected to be finalised, said one of the people who asked not to be named because the information is private. The size of the loan is still to be determined, another person said.
The loan is expected to have a margin of 100 basis points over the London interbank offered rate and a ticking fee of 9 basis points, as previously reported by Bloomberg News. It will also have a 5 basis points upfront fee, the people said.
Citigroup Inc is leading the
financing, which was initially marketed at a size of $10 billion with a two-year delayed-draw term loan structure with potential to grow.