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HONEYWELL ANNOUNCES PRICING OF HONEYWELL AEROSPACE'S OFFERING OF SENIOR NOTES IN CONNECTION WITH PLANNED SPIN-OFF
Prnewswire· 2026-03-11 00:21
Core Viewpoint - Honeywell Aerospace has announced the pricing of a private offering of senior notes as part of its planned spin-off from Honeywell, with a total offering amount of $10.25 billion across various maturities and interest rates [1]. Group 1: Offering Details - The offering includes $1,250 million of 3.900% senior notes due 2028, $1,250 million of 4.000% senior notes due 2029, $500 million of floating rate senior notes due 2029, $2,000 million of 4.300% senior notes due 2031, $1,750 million of 4.600% senior notes due 2033, and $3,250 million of 4.950% senior notes due 2036 [1]. - Additionally, the offering includes $1,000 million of 5.622% senior notes due 2046, $3,500 million of 5.732% senior notes due 2056, and $1,500 million of 5.852% senior notes due 2066 [1]. - The notes will be issued at various percentages of par, with interest payable semi-annually or quarterly depending on the note type, and the offering is expected to close around March 16, 2026 [1]. Group 2: Use of Proceeds - Proceeds from the New Money Notes will be used for a cash distribution to Honeywell, fees and expenses related to the spin-off, revolving credit facilities, and general corporate purposes [1]. - The Exchange Notes will be issued to Honeywell and are expected to be transferred to selling noteholders to satisfy certain debt obligations [1]. Group 3: Company Overview - Honeywell Aerospace Inc. is a leading global tier-1 aerospace and defense supplier, providing mission-critical systems and technologies for various markets including Commercial Air Transport, Defense and Space, and Business Aviation [2]. - Honeywell operates across a broad range of industries and geographies, focusing on providing innovative solutions for aerospace, building automation, industrial automation, and process technology [2].