O rrecent capital increase of more than US$20 billion from Boeing provided four banks with a robust payment. Goldman Sachs, Bank of America, Citigroup and JPMorgan Chase are each expected to receive up to $75 million for their roles as lead coordinators of the offering.
The data was released by Boeing itself to the US Securities and Exchange Commission (SEC). This represents around 80% of the total fees being shared by the approximately 20 banks that worked on the operation.
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Boeing this week raised about $23.5 billion in an effort to strengthen its balance sheet and avoid a possible downgrade of its credit rating to speculative status.
The sale was one of the largest of its kind ever carried out by a publicly traded company. It consisted of an approximately $18.5 billion sale of common shares, including the over-allotment shares sold by the underwriters later in the week, and $5 billion in depositary shares representing an interest in mandatory convertible preferred shares.
Representatives from Boeing, Goldman Sachs, Bank of America, Citigroup and JPMorgan declined to comment.
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Other banks that worked on the sale also include Wells Fargo, BNP Paribas, Deutsche Bank and Morgan Stanley. These companies were listed as joint coordinators. PJT Partners acted as financial advisor to Boeing on the offerings.
Sales of new and existing shares, including initial public offerings, are having their best year since the 2021 IPO boom, data compiled by Bloomberg.
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