Striking Boeing workers and their supporters picket outside the Boeing Co. manufacturing facility in Renton, Washington, on Sept. 16, 2024.
Yehyun Kim | AFP | Getty Images
Boeing said Tuesday that it could raise as much as $25 billion in shares or debt over three years, a move to increase liquidity as the troubled manufacturer faces a more than month-long machinist strike and problems throughout its aircraft programs.
“This universal shelf registration provides flexibility for the company to seek a variety of capital options as needed to support the company’s balance sheet over a three year period,” Boeing said in a statement.
Earlier, Boeing separately said in a filing that it has an agreement with a consortium of banks for a $10 billion credit agreement.
“The credit facility provides additional short term access to liquidity as we navigate through a challenging environment,” the company said in a statement. “The company has not drawn on this facility or its existing credit revolver.”
Boeing is trying to shore up its balance sheet as it faces warnings from credit ratings agencies that it could lose its investment grade rating.
S&P Global Ratings, one of the agencies that warned about a downgrade, last week estimated that the machinist strike is costing Boeing more than $1 billion a month.
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