Boeing raising $25b in bonds, says not seeking US government funds now

Boeing said Thursday it does not plan to seek US government support now after receiving strong interest from the bond market for a $25b public offering. The aviation giant, which has been badly hit by the devastating impact of coronavirus shutdowns on global airlines, said demand for the bond offering was "robust." "We do not plan to seek additional funding through the capital markets or the US government options at this time," according to a company statement issued Thursday, adding that it expects the bond offering to be completed on May 4. The offering includes seven tranches of bonds expiring between 2023 and 2060. A securities filing Thursday did not list interest rates for the notes. The announcement comes a day after Boeing reported a $641m loss in Q1 and said it was cutting 10% of its workforce. S&P downgraded Boeing's credit rating late Wednesday following the results, which also showed the lingering effects of the protracted grounding of its top-selling 737 MAX plane following two deadly crashes. However, Boeing's credit rating remains investment grade in S&P's rubric.<br/>