Honeywell Issues Multiple Senior Notes and Euro Notes
Ticker: HON · Form: 8-K · Filed: Mar 19, 2024 · CIK: 773840
| Field | Detail |
|---|---|
| Company | Honeywell International INC (HON) |
| Form Type | 8-K |
| Filed Date | Mar 19, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $1, $1.5 billion, $4.0 billion, $4.5 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-issuance, financing, senior-notes
TL;DR
Honeywell just dropped a bunch of new debt: Euro Notes due 2027 and various senior notes due 2028 and 2032.
AI Summary
On March 18, 2024, Honeywell International Inc. entered into a material definitive agreement related to the issuance of senior notes. Specifically, the company issued Euro Notes with a 3.50% interest rate due in 2027, and various other senior notes including M2.250% due 2028, M0.750% due 2032, M3.750% due 2032, and Euro Notes with a 4.125% interest rate due in 2034.
Why It Matters
Honeywell's issuance of new debt instruments indicates a strategy to manage its capital structure and fund future operations or investments.
Risk Assessment
Risk Level: low — The filing details the issuance of debt, which is a standard corporate finance activity and does not inherently present immediate high risk.
Key Numbers
- 3.50% — Euro Notes Interest Rate (Due 2027)
- 2.250% — Senior Notes Interest Rate (Due 2028)
- 0.750% — Senior Notes Interest Rate (Due 2032)
- 3.750% — Senior Notes Interest Rate (Due 2032)
- 4.125% — Euro Notes Interest Rate (Due 2034)
Key Players & Entities
- Honeywell International Inc. (company) — Filer
- March 18, 2024 (date) — Date of Report
- Euro Notes 3.50% Due 2027 (dollar_amount) — Debt Instrument
- M2.250% Senior Notes Due 2028 (dollar_amount) — Debt Instrument
- M0.750% Senior Notes Due 2032 (dollar_amount) — Debt Instrument
- M3.750% Senior Notes Due 2032 (dollar_amount) — Debt Instrument
- Euro Notes 4.125% Due 2034 (dollar_amount) — Debt Instrument
FAQ
What is the total principal amount of the senior notes and Euro notes issued by Honeywell?
The filing does not specify the total principal amount of the notes issued, only the interest rates and maturity dates.
What is the purpose of issuing these new senior notes and Euro notes?
The filing states that the issuance of these notes constitutes a direct financial obligation of the registrant, but does not explicitly detail the specific use of proceeds.
When were these material definitive agreements entered into?
The agreements related to the issuance of these notes were entered into as of March 18, 2024.
Are there any specific covenants or restrictions associated with these new debt issuances?
The filing does not provide details on specific covenants or restrictions associated with these notes.
Does this filing indicate any changes in Honeywell's credit rating or financial outlook?
This filing reports the issuance of debt and does not contain information regarding changes in credit ratings or financial outlook.
Filing Stats: 1,280 words · 5 min read · ~4 pages · Grade level 10.5 · Accepted 2024-03-19 16:17:40
Key Financial Figures
- $1 — ich registered Common Stock, par value $1 per share HON The Nasdaq Stock Mark
- $1.5 billion — nts in an aggregate principal amount of $1.5 billion and is maintained for general corporate
- $4.0 billion — nts in an aggregate principal amount of $4.0 billion and is maintained for general corporate
- $4.5 billion — nt to an aggregate amount not to exceed $4.5 billion. The 5-Year Credit Agreement amends and
Filing Documents
- d785317d8k.htm (8-K) — 42KB
- d785317dex101.htm (EX-10.1) — 500KB
- d785317dex102.htm (EX-10.2) — 692KB
- 0001193125-24-071322.txt ( ) — 1673KB
- hon-20240318.xsd (EX-101.SCH) — 5KB
- hon-20240318_def.xml (EX-101.DEF) — 14KB
- hon-20240318_lab.xml (EX-101.LAB) — 24KB
- hon-20240318_pre.xml (EX-101.PRE) — 15KB
- d785317d8k_htm.xml (XML) — 10KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed as part of this report: Exhibit # Description 10.1 364-Day Credit Agreement, dated as of March 18, 2024, among Honeywell International Inc., the banks, financial institutions, and other institutional lenders parties thereto, Bank of America, N.A., as administrative agent, and JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association, as syndication agent. 10.2 Amended and Restated Five-Year Credit Agreement, dated as of March 18, 2024, among Honeywell International Inc., the banks, financial institutions, and other institutional lenders parties thereto, Bank of America, N.A., as administrative agent and as swing line agent and JPMorgan Chase Bank, N.A., and Wells Fargo Bank, National Association, as syndication agents. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 19, 2024 Honeywell International Inc. By: /s/ Anne T. Madden Anne T. Madden Senior Vice President and General Counsel