<div id="readability-page-1"><div> (Bloomberg) -- Boeing Co.’s $20 billion-plus capital raise delivered four banks a hefty payday just as equity market issuance began to cool ahead of the US election. Most Read from Bloomberg <ul><li> Is Denver’s Big Bet on E-Bikes Paying Off? </li><li> The Answer To Making Cities More Family-Friendly? Courtyards </li><li> Chicago Mayor Seeks Property Tax Hike, Breaking Campaign Vow </li><li> Istanbul Tries Free Public Transit to Help Job Seekers </li><li> In Warsaw, Falling Road Deaths Signal a Traffic Safety Turnaround </li> </ul> Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc. and JPMorgan Chase &amp; Co. are each expected to earn as much as $75 million for their roles as lead joint bookrunners on the equity raise, based on the Boeing’s filings with the US Securities and Exchange Commission. That accounts for close to 80% of the total fee pool being shared by the roughly 20 banks that worked on the deal. Representatives for Boeing, Goldman Sachs, Bank of America, Citigroup and JPMorgan declined to comment. Boeing this week raised about $23.5 billion in an expanded capital raising in an effort to shore up its balance sheet and stave off a potential credit rating downgrade to junk. The sale was one of the largest ever of its kind by a public company. It comprised a roughly $18.5 billion common share sale, including the overallotment shares sold by the underwriters later in the week, and $5 billion of depositary shares representing a stake in mandatory convertible preferred stock. Other banks that worked on the sale included Wells Fargo &amp; Co., BNP Paribas SA, Deutsche Bank AG and Morgan Stanley. Those companies were listed as joint bookrunning managers. Sales of new and existing shares, including initial public offerings, are having their best year since the IPO boom in 2021, data compiled by Bloomberg show. But activity during the traditional post-Labor Day window has slowed as companies steel themselves for Tuesday’s US presidential election. --With assistance from Julie Johnsson. Most Read from Bloomberg Businessweek <ul><li> What Everyone Gets Wrong About Luxury Handbags </li><li> Trump’s Immigration Policy Would Make Food Inflation Even Worse </li><li> How to End the Backlog of Asylum Cases? Take Them Out of the Courts </li><li> How Elon Musk Came to Embrace the ‘Trump Trade’ </li><li> Private Equity Hipsters Are Coming for Your Favorite Apps </li> </ul> ©2024 Bloomberg L.P. </div></div>

Boeing Co. raised over $3 billion in capital, rewarding four banks—Goldman Sachs, Bank of America, Citigroup, and JPMorgan Chase—with up to $100 million in fees as lead joint bookrunners. This capital raise, aimed at strengthening Boeing's balance sheet and avoiding a credit rating downgrade, is one of the largest by a public company. The deal included a $2.5 billion common share sale and $1 billion in depositary shares. Despite a slowdown in equity market issuance ahead of the US election, 2023 has seen strong activity in new and existing share sales.

Boeing Bankers Grab Up to $300 Million in Capital Raise Fees