Boeing weighs raising at least $10b selling stock

Boeing Co. is considering raising at least $10b by selling new stock, as the planemaker seeks to replenish cash reserves depleted further by an ongoing strike, according to people familiar with the discussions. The company is working with advisers to explore its options, said the people, asking not to be identified discussing confidential matters. Raising equity isn’t likely to happen for at least a month, assuming the planemaker can resolve the strike, because Boeing wants a firm grasp of the financial toll from the walkout by 33,000 workers, the people said. A spokesman for Boeing declined to comment. No final decision on timing and the amount has been made, and Boeing could end up deciding against the move, the people said. Boeing is under pressure to shore up its finances and hold onto its investment-grade credit rating. The company is one step away from dropping into speculative territory, which would further drive up the cost to service its $58b debt load. The situation has been exacerbated by the strike now in its third week that has shut down output of Boeing’s single-aisle airliner, as each day of stoppage further dents reserves.<br/>