Boeing To Drawdown Full $13.8 Billion Revolver, Hinting At Imminent Bank Lending Freeze
March 11th, 2020Via: ZeroHedge:
For that generation of traders out there who were following the market back in 2007/2008, instead of their high school or college GPA, they will recall that one of the key inflection points in the global financial crisis 12 years ago was when banks started pulling revolvers to preserve liquidity.
Moments ago Boeing suggested that a similar moment is coming again: according to Bloomberg struggling aerospace giant Boeing, which just a few weeks ago obtained an outsized revolver from various Wall Street sources to shore up its liquidity in the aftermath of the 737 MAX crisis, was planning to draw down the full amount of a $13.825 billion loan as early as Friday.
