Company: BA
Filing Date: 2025-08-28
Form Type: 8-K
Source: 0000012927-25-000064
Chunk: 0

Company: BOEING CO
Filing Date: 2025-08-28
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01. Entry into a Material Definitive Agreement.

On August 25, 2025, The Boeing Company (“ Boeing”) entered into a $3.0 billion, 364-day revolving credit agreement (the “ Agreement”) with Citibank, N. A. (“ Citibank”) and JPMorgan Chase Bank, N. A. (“ JPMorgan”) as joint lead arrangers and joint book managers, Citibank as administrative agent, JPMorgan as syndication agent, and a syndicate of lenders as defined in the Agreement. This facility replaces Boeing’s previous $3.0 billion, three-year revolving credit agreement, which was scheduled to terminate on August 25, 2025. Under the Agreement, Boeing will pay a fee of between 0.125% and 0.300% per annum on the commitments, depending on Boeing’s credit rating. Borrowings under the Agreement that are based on SOFR will generally bear interest at an annual rate equal to Term SOFR (as defined in the Agreement) plus between 1.250% and 1.700% per annum, depending on Boeing’s credit rating. All other borrowings under the Agreement will bear interest at an annual rate equal to the highest of (1) the rate announced publicly by Citibank, from time to time, as its “base” rate, (2) the federal funds rate plus 0.50% and (3) Term SOFR for a one-month tenor in effect on such day plus 1.00%, plus in each of (1), (2) and (3) between 0.250% and 0.700% per annum, depending on Boeing’s credit rating. The Agreement is scheduled to terminate on August 24, 2026, subject to Boeing’s right to, following payment of additional fees, convert outstanding borrowings into term loans with a maturity date that is the one-year anniversary of the termination date, as well as Boeing’s right to request that the lenders extend the term for an additional 364 days.

The Agreement contains customary terms and conditions, including covenants restricting Boeing’s ability to permit consolidated debt (as defined in the Agreement) in excess of 60% of Boeing’s total capital (as defined in the agreement), to incur liens, and to merge or consolidate with another entity and a covenant requiring Boeing to maintain liquidity (as defined in the Agreement) of at least $5.0 billion. Events of default under the