Boeing Co. has received orders of about $14 billion from around 20 banks for a loan which will give the planemaker more financial flexibility to manage the fallout from its grounded 737 Max jetliners, Bloomberg News reported. On the earnings call yesterday, Boeing said that it had received enough commitments to enter into a $12 billion term loan facility. “Based on the strong demand, the size of facility could exceed this amount when the transaction closes in February,” said Chief Financial Officer Greg Smith. The loan deal is expected to close on Feb. 6. It was initially marketed at a size of $10 billion with potential to grow. Boeing revealed yesterday that total costs for the grounded planes will surpass $18 billion when the tab for restarting production later this year is included.
