MORRIS PLAINS, N.J.,
Oct. 24, 2016 /PRNewswire/
-- Honeywell International Inc. ("Honeywell" or the
"Company") (NYSE: HON) today announced the pricing
of its registered public offering of its $1,250,000,000 1.400% Senior Notes due 2019,
$250,000,000 Floating Rate Notes due
2019, $1,500,000,000 1.850% Senior
Notes due 2021 and $1,500,000,000
2.500% Senior Notes due 2026 (collectively, the "Notes"). The
offering is expected to close on October 31,
2016, subject to customary closing conditions.
The Notes will be senior unsecured and unsubordinated
obligations of Honeywell and will rank equally with all of
Honeywell's existing and future senior unsecured debt and senior to
all of Honeywell's subordinated debt.
Honeywell intends to use the proceeds of the offering to fund
(i) the repayment of commercial paper, (ii) the purchase of
existing notes pursuant to its previously announced tender offer to
purchase any and all of its outstanding 5.30% notes due 2017, 5.30%
notes due 2018 and 5.00% notes due 2019 (the "Tender Offer") and
(iii) the redemption of any such existing notes that remain
outstanding following the Tender Offer, and to use the remainder of
the net proceeds for general corporate purposes.
The offering is not conditioned on the completion of the Tender
Offer, but the completion of the offering is a condition to the
completion of the Tender Offer. Honeywell may waive such conditions
in its sole discretion or, subject to applicable law, extend,
terminate or otherwise amend the Tender Offer.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC,
Morgan Stanley & Co. LLC, and Wells Fargo Securities,
LLC are acting as the joint book-running managers for the
public offering of the Notes.
The offering of these Notes is being made only by means of a
base prospectus (as supplemented and amended from time to time),
which is part of a registration statement that Honeywell filed with
the Securities and Exchange Commission utilizing a "shelf"
registration process (collectively, the "Prospectus"). Copies of
the Prospectus may be obtained from Honeywell International Inc.,
115 Tabor Road, Morris Plains, New
Jersey 07950, Attn: Investor Relations Department, (973)
455-2000. Alternatively, potential purchasers of the Notes can
obtain copies of the Prospectus, as supplemented, related to the
Notes by calling Deutsche Bank Securities Inc. at (800) 503-4611
(toll free), J.P. Morgan Securities LLC at (212) 834-4533
(collect), Morgan Stanley & Co. LLC at (866) 718-1649 (toll
free) or Wells Fargo Securities, LLC at 1-800-645-3751(toll
free).
This news release is for informational purposes only and is
neither an offer to purchase nor a solicitation of an offer to sell
any securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
This news release is not an offer to purchase or a solicitation
of an offer to sell any of the notes subject to the Tender Offer.
The Tender Offer is being made only by, and pursuant to the terms
of, the Offer to Purchase dated October 24,
2016 and the related Letter of Transmittal and Notice of
Guaranteed Delivery.
Honeywell is a Fortune 100 diversified technology and
manufacturing leader, serving customers worldwide with aerospace
products and services; control technologies for buildings, homes,
and industry; turbochargers; and performance materials.
This release contains certain statements that may be deemed
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact, that address activities,
events or developments that we or our management intends, expects,
projects, believes or anticipates will or may occur in the future
are forward-looking statements. Such statements are based upon
certain assumptions and assessments made by our management in light
of their experience and their perception of historical trends,
current economic and industry conditions, expected future
developments and other factors they believe to be appropriate. The
forward-looking statements included in this release are also
subject to a number of material risks and uncertainties, including
but not limited to economic, competitive, governmental, and
technological factors affecting our operations, markets, products,
services and prices. Such forward-looking statements are not
guarantees of future performance, and actual results, developments
and business decisions may differ from those envisaged by such
forward-looking statements. We identify the principal risks and
uncertainties that affect our performance in our Form 10-K and
other filings with the Securities and Exchange Commission.
Contacts:
|
|
Media
|
Investor
Relations
|
Robert C.
Ferris
|
Mark
Macaluso
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(973)
455-3388
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(973)
455-2222
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rob.ferris@honeywell.com
|
mark.macaluso@honeywell.com
|
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SOURCE Honeywell International Inc.