8-KOther EventsExhibits & Filings

HONEYWELL INTERNATIONAL INC 8-K Report, Corporate Update (Jan 30, 2018)

Filed January 30, 2018For Securities:HONHONIV

Summary

This 8-K filing by Honeywell International Inc. (HON) announces the successful completion of its registered exchange offer for its 3.812% Senior Notes due 2047. The offer, which commenced in December 2017 and expired on January 29, 2018, aimed to exchange unregistered notes for an equal principal amount of registered notes. This action is a routine compliance measure to ensure all publicly traded debt is properly registered with the SEC, potentially enhancing liquidity and simplifying future transactions. Investors should note the high participation rate, with approximately 99.44% of the outstanding unregistered notes being tendered for exchange. This indicates strong investor confidence and a smooth execution of the company's debt management strategy. The company accepted all validly tendered notes, resolving the registration issue for the vast majority of this debt issuance.

Key Highlights

  • 1Honeywell successfully completed its registered exchange offer for 3.812% Senior Notes due 2047.
  • 2The exchange offer aimed to swap unregistered notes for registered notes under the Securities Act of 1933.
  • 3Approximately 99.44% of the outstanding unregistered notes were tendered for exchange.
  • 4Honeywell accepted all validly tendered and not withdrawn original notes.
  • 5The exchange offer commenced on December 28, 2017, and expired on January 29, 2018.
  • 6This filing includes the press release announcing the results as Exhibit 99.1.
  • 7The transaction addresses regulatory compliance for a significant portion of the company's debt.

Frequently Asked Questions

The purpose of the registered exchange offer was to exchange outstanding 3.812% Senior Notes due 2047, which were not registered under the Securities Act of 1933, for an equal principal amount of newly issued notes that are registered under the Securities Act. This ensures compliance with securities laws and can make the notes more easily tradable in the public market.

The exchange offer was highly successful. Out of the $444,859,000 aggregate principal amount of original notes, $442,373,000 were validly tendered for exchange, representing approximately 99.44% participation.

The high tender rate of 99.44% suggests strong investor confidence in Honeywell and a smooth execution of the company's debt management. It indicates that the vast majority of noteholders found the terms of the exchange offer favorable and that the company has effectively addressed the registration status of its debt.

This filing primarily addresses a regulatory compliance matter related to debt registration. While it doesn't typically result in immediate, significant financial impacts beyond potential minor administrative costs, ensuring debt is properly registered can prevent future complications and support market liquidity for the notes.