Boeing near $15B share and convertible bond capital raise, Reuters says

Boeing is closing in on a plan to raise around $15B with common shares and a mandatory convertible bond, four sources familiar with the matter told Reuters. Lenders are inquiring about appetite for a combined offering of new shares and a mandatory convertible bond – a hybrid bond that could convert into equity on or before a predetermined date, according to Reuters. Roughly $10B in new shares are being contemplated to be sold by the company along with nearly $5B in mandatory convertible bonds, the sources said. One of the sources said the deal was scheduled to be priced shortly after Boeing’s October 23 earnings report, but another said the company was trying to avoid a raise during the middle of the month-old strike, adds Reuters.