Honeywell Issues New Debt Instruments
Ticker: HON · Form: 8-K · Filed: Jul 2, 2024 · CIK: 773840
| Field | Detail |
|---|---|
| Company | Honeywell International INC (HON) |
| Form Type | 8-K |
| Filed Date | Jul 2, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1, $1.5 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-issuance, financing, material-definitive-agreement
TL;DR
Honeywell just dropped a bunch of new debt – notes and a term loan due between 2027 and 2036.
AI Summary
Honeywell International Inc. entered into a material definitive agreement on July 2, 2024, related to the creation of a direct financial obligation. The filing details several senior notes and a term loan, including "A3500 Senior Notes Due 2027", "Euro 2.25 Notes Due 2028", "Euro 3.375 Senior Notes Due 2030", "Euro 75 Term Loan Due 2032", "A3750 Senior Notes Due 2032", "Euro 4.125 Senior Notes Due 2034", and "Euro 3.75 Senior Notes Due 2036".
Why It Matters
Honeywell has secured new financing through various note issuances and a term loan, which could impact its capital structure and future financial flexibility.
Risk Assessment
Risk Level: medium — The issuance of new debt increases Honeywell's financial leverage and obligations, which carries inherent financial risks.
Key Numbers
- 2027 — First Debt Maturity (Maturity date for A3500 Senior Notes)
- 2036 — Last Debt Maturity (Maturity date for Euro 3.75 Senior Notes)
- 20240702 — Filing Date (Date of material definitive agreement)
Key Players & Entities
- HONEYWELL INTERNATIONAL INC (company) — Filer
- A3500 Senior Notes Due 2027 (dollar_amount) — Financial Obligation
- Euro 2.25 Notes Due 2028 (dollar_amount) — Financial Obligation
- Euro 3.375 Senior Notes Due 2030 (dollar_amount) — Financial Obligation
- Euro 75 Term Loan Due 2032 (dollar_amount) — Financial Obligation
- A3750 Senior Notes Due 2032 (dollar_amount) — Financial Obligation
- Euro 4.125 Senior Notes Due 2034 (dollar_amount) — Financial Obligation
- Euro 3.75 Senior Notes Due 2036 (dollar_amount) — Financial Obligation
FAQ
What is the aggregate principal amount of the new debt instruments issued by Honeywell?
The filing does not specify the aggregate principal amounts for each of the listed senior notes and the term loan, only their names and maturity dates.
What is the purpose of these new debt issuances?
The filing indicates the creation of a direct financial obligation but does not explicitly state the purpose for the new debt issuances.
What are the interest rates for the new debt instruments?
The filing lists interest rates for some of the Euro-denominated notes (e.g., Euro 2.25 Notes Due 2028, Euro 3.375 Senior Notes Due 2030, Euro 4.125 Senior Notes Due 2034, Euro 3.75 Senior Notes Due 2036) but not for all.
Are there any covenants associated with these new debt obligations?
The filing does not detail specific covenants associated with these new debt instruments.
When did Honeywell enter into these agreements?
Honeywell entered into these agreements on July 2, 2024.
Filing Stats: 811 words · 3 min read · ~3 pages · Grade level 10.8 · Accepted 2024-07-02 16:20:03
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
Filing Documents
- d447517d8k.htm (8-K) — 39KB
- d447517dex101.htm (EX-10.1) — 483KB
- 0001193125-24-174346.txt ( ) — 820KB
- hon-20240702.xsd (EX-101.SCH) — 5KB
- hon-20240702_def.xml (EX-101.DEF) — 15KB
- hon-20240702_lab.xml (EX-101.LAB) — 26KB
- hon-20240702_pre.xml (EX-101.PRE) — 16KB
- d447517d8k_htm.xml (XML) — 12KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed as part of this report: Exhibit # Description 10.1 Second 364-Day Credit Agreement, dated as of July 2, 2024, among Honeywell International Inc., the banks, financial institutions, and other institutional lenders parties thereto and Bank of America, N.A., as administrative agent. 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: July 2, 2024 Honeywell International Inc. By: /s/ Su Ping Lu Su Ping Lu Vice President and Corporate Secretary