Summary
Honeywell International Inc. (HON) filed an 8-K on February 22, 2016, to report the creation of direct financial obligations through a public offering of senior notes. The company issued a substantial amount in Euros across several tranches, totaling €3.6 billion, with maturities ranging from 2018 to 2028. These notes were issued under the company's existing shelf registration statement and are governed by an indenture with Deutsche Bank Trust Company Americas as the trustee. This issuance represents a significant capital raise for Honeywell, providing them with funds for general corporate purposes or other strategic initiatives. Investors should note the fixed and floating interest rates associated with these notes, as well as their respective maturity dates, which impact the company's future debt obligations and cash flow management. The filing indicates that the proceeds are intended to support the company's ongoing operations and potential growth opportunities.
Key Highlights
- 1Honeywell issued €3.6 billion in senior notes in a public offering on February 22, 2016.
- 2The notes are divided into four tranches: Floating Rate Senior Notes due 2018, 0.650% Senior Notes due 2020, 1.300% Senior Notes due 2023, and 2.250% Senior Notes due 2028.
- 3The issuance was made under Honeywell's shelf registration statement on Form S-3 filed on December 11, 2015.
- 4The notes are governed by an indenture dated March 1, 2007, with Deutsche Bank Trust Company Americas acting as the trustee.
- 5This filing relates to Item 2.03 of Form 8-K, concerning the creation of a direct financial obligation.
- 6The specific terms and forms of the issued notes are detailed in incorporated exhibits, including the Indenture and forms of global notes.