Summary
Honeywell International Inc. (HON) filed an 8-K on November 21, 2017, detailing a material definitive agreement related to the issuance of new debt. Specifically, the company entered into an indenture with Deutsche Bank Trust Company Americas to govern the terms of its newly issued 3.812% Senior Notes Due 2047. These notes, with an aggregate principal amount of approximately $444.86 million, were issued in connection with a private exchange offer for existing debt securities. This issuance represents a significant debt financing event for Honeywell. Investors should note the terms of these new senior notes, including their coupon rate and maturity date, as they impact the company's capital structure and future interest expense. The company has made available the full indenture and forms of the notes for detailed review by interested parties.
Key Highlights
- 1Honeywell entered into a material definitive agreement by executing an indenture on November 21, 2017.
- 2The company issued approximately $444.86 million in aggregate principal amount of 3.812% Senior Notes Due 2047.
- 3These new notes were issued under the newly established Indenture with Deutsche Bank Trust Company Americas as trustee.
- 4The issuance was part of a private offer to exchange existing series of outstanding debt securities for a combination of the new notes and cash.
- 5The filing includes the Indenture and forms of the new Senior Notes (Rule 144A and Regulation S) as exhibits.