UNITED STATES

摘要

Aircraft manufacturer BOEING has signed a US$3.06bn 364-day revolving credit facility that uses term SOFR as its reference rate in preparation for the cessation of Libor loan origination at the end of 2021. The RCF is one of the first loans tied to SOFR to be syndicated from a US blue-chip company. The RCF replaces Boeing's US$3.073bn 364-day RCF from October 2020. Pricing is based on the borrower's debt rating. For Baal/BBB+/BBB+ the facility fee is 20bp and the margin is 141.4bp over SOFR; for Baa2/BBB/BBB it is 25bp and 161.4bp; for Baa3/ BBB-/BBB- it is 30bp and 181.4bp; for Ba1/BB+/ BB+ it is 35bp and 201.4bp; and for lower than Ba1/BB+/BB+ it is 40bp and 221.4bp. The company's 2020 RCF paid a margin of 110bp-190bp over Libor, and a facility fee ranging from 15bp-35bp, based on Boeing's debt rating.