By Aleesia Forni
Virginia Beach, Va., Nov. 18 - Honeywell International Inc. priced a $1 billion two-part issue of senior notes (A2/A/A) in fixed- and floating-rate tranches on Monday, according to an informed source.
The issuance included $300 million of 3.35% senior notes due 2023 sold with a spread of Treasuries plus 75 basis points, or 99.384 to yield 3.423%.
A $700 million tranche of floating-rate senior notes due 2015 was priced at par to yield Libor plus 5 bps.
Full terms were not available at press time.
The joint bookrunners were Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBS Securities Inc.
Proceeds will be used for general corporate purposes.
Honeywell is a technology and manufacturing company based in Morristown, N.J.
| Issuer: | Honeywell International Inc.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Joint bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBS Securities Inc.
|
| Trade date: | Nov. 18
|
| Settlement date: | Nov. 21
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Floaters due 2015
|
| Amount: | $700 million
|
| Maturity: | Nov. 17, 2015
|
| Coupon: | Libor plus 5 bps
|
| Price: | Par
|
| Yield: | Libor plus 5 bps
|
|
|
| Notes due 2023
|
| Amount: | $300 million
|
| Description: | Fixed-rate notes
|
| Maturity: | Dec. 1, 2023
|
| Coupon: | 3.35%
|
| Price: | 99.384
|
| Yield: | 3.423%
|
| Spread: | Treasuries plus 75 bps
|
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