Boeing plans draw on more than $13 billion loan as turbulence worsens

A Boeing 737 MAX 9 is pictured outdoors the manufacturing unit in Renton, Washington.

Stephen Brashear | Getty Photos

Boeing is preparing to attract down on a extra than $13 billion financial loan it secured in January previously than predicted, a man or woman acquainted with the matter reported Wednesday, as the spread of coronavirus roils markets.

Boeing shares plunged shut to 10% to lows not found due to the fact mid-2017, shaving 155 details off the Dow Jones Industrial Average.

The funding was a delayed-draw mortgage, this means Boeing could safe the funding but would tap into it later on. The early draw-down on the bank loan was earlier noted by Bloomberg Information.

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