Business

January 28, 2013

Boeing aircraft financing unit, Boeing Capital, to end separate SEC reporting

Boeing announced Jan. 23 that its aircraft financing and leasing unit, Boeing Capital Corporation, plans to suspend its separate U.S. Securities and Exchange Commission reporting.

The move will help streamline Boeing’s financial reporting process while not affecting the financing and leasing unit’s mission, operations or customer interactions. Boeing Capital’s financial information will continue to be included in Boeing’s SEC disclosures.

Boeing issued today a full and unconditional guarantee of all outstanding publicly issued debt securities of Boeing Capital. The aircraft financing unit will suspend its separate SEC reporting after filing its Form 10-K for 2012 in the coming weeks. In connection with the plan to suspend reporting obligations, BCC will file with the SEC today to terminate its current debt registration statement.

“This action will generate efficiencies in Boeing’s financial reporting process while allowing Boeing Capital to continue to fulfill its mission of supporting the company’s customers and managing its financial risks,” said Mike Cave, Boeing Capital’s president. “Our customers and stakeholders will see no change in Boeing Capital’s mission or how it operates. In addition, Boeing Capital intends to continue to maintain a target debt-to-equity ratio of 5 to 1.”

Cave said any future funding requirements for Boeing Capital are expected to be raised at the corporate level and then provided to Boeing Capital through intercompany loans.

Boeing Capital’s roots date back more than four decades in service to the aircraft financing needs of Boeing customers around the globe.

“Boeing Capital will continue to be reported as a segment in Boeing’s SEC reports, and we will continue to provide transparency into BCC’s financial results, financial position and leverage,” said Diana Sands, Boeing’s corporate vice president and controller.

BCC currently has approximately 150 employees and is headquartered in Renton, Wash., near Seattle.




All of this week's top headlines to your email every Friday.


 
 

 

Headlines July 6, 2015

News Long wait to come to America for Iraqis, Afghans who served U.S. troops Long wait times and a shortage of available visas for a huge backlog of applications remain major issues for the U.S. government’s Special Immigrant Visa program intended to ease entry to the United States for Iraqis and Afghans who served as...
 
 

News Briefs July 6, 2015

Russian MiG fighter crashes in southern Russia, pilot lives The Russian Defense Ministry says a Russian air force fighter jet has crashed in the south but its pilot ejected safely. The MiG-29 fighter jet went down July 3 near the village of Kushchevskaya in the Krasnodar region, 620 miles south of Moscow. The ministry said...
 
 
Army photograph by Doug LaFon

Army researcher’s interest in robotics leads to innovative device

Army photograph by Doug LaFon Dan Baechle, left, from the U.S. Army Research Laboratory Multifunctional Materials research team, has created a laboratory prototype of a device he designed to sense and damp out arm tremors for A...
 

 
Air Force photograph by TSgt. Joseph Swafford

Pave Hawk maintainers keep rescue birds flying

Air Force photograph by TSgt. Joseph Swafford Airman Joshua Herron, a 41st Expeditionary Helicopter Maintenance Unit HH-60 Pave Hawk crew chief, completes a 50-hour inspection on a Pave Hawk at Bagram Airfield, Afghanistan, Jun...
 
 
Air Force photograph by SrA. Benjamin Raughton

B-52s demonstrate strategic reach

Air Force photograph by SrA. Benjamin Raughton A B-52H Stratofortress is marshalled to a stop at Barksdale Air Force Base, La., after a 44-hour sortie July 2, 2015. Aircrew members and two B-52s from Barksdale AFB’s 96th ...
 
 

Soldier missing from Korean War accounted for

The Department of Defense POW/MIA Accounting Agency announced July 1 that the remains of a serviceman, missing from the Korean War, have been identified and will be returned to his family for burial with full military honors. Army Sgt. Joseph M. Snock Jr. of Apollo, Pennsylvania, was buried July 6, in Arlington National Cemetery. In...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>