Honeywell International (HON) just unveiled an update.
Honeywell International Inc. has secured two significant credit agreements to bolster its financial flexibility for general corporate purposes. The company entered into a $1.5 billion 364-Day Credit Agreement and a $4.0 billion 5-Year Credit Agreement, with provisions to increase the latter to $4.5 billion. Both agreements offer Honeywell revolving credit without financial covenants restricting dividend payments, featuring market-based interest rates plus margins, and include customary terms for investment-grade borrowers. The 364-Day Credit Agreement is due by March 2025 with an option to convert to a term loan due 2026, while the 5-Year Credit Agreement extends to March 2029.
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