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Citibank Agents $2.5B Revolver for Boeing

November 6, 2017

Boeing entered into a $2.5 billion 364-day revolving credit agreement, replacing the agreement scheduled to expire on November 1, 2017.

According to a related 8-K filing, Citibank served as administrative agent for the transaction. Citigroup Global Markets and JPMorgan Chase served as joint lead arrangers and joint bookrunners.

Under the 364-day credit agreement, Boeing will pay a fee of 0.04% per annum on the commitments. Borrowings under the 364-day credit agreement that are not based on Eurodollar rates will bear interest at an annual rate equal to the highest of (1) the rate announced publicly by Citibank, from time to time, as its “base” rate, (2) the federal funds rate plus 0.50% and (3) the ICE benchmark settlement rate plus 1.00%.

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