Honeywell to price fixed-rate, floating-rate notes in five tranches

By Devika Patel

Knoxville, Tenn., Oct. 24 – Honeywell International Inc. intends to offer senior notes in five tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be sold in three fixed-rate tranches and two floating-rate tranches, with one of the fixed-rate and one of the floating-rate tranches due in 2019, one of the fixed-rate and one of the floating-rate tranches due in 2021 and a fixed-rate tranche due in 2026.

The fixed-rate portions will have make-whole calls and par calls. The floaters will be non-callable.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to repay commercial paper, to purchase the company’s 5.3% notes due 2017, 5.3% notes due 2018 and 5% notes due 2019 under a tender offer and redeem any of the 5.3% notes due 2017, 5.3% notes due 2018 and 5% notes due 2019 that remain outstanding following the tender offer, and for general corporate purposes.

Honeywell is a technology and manufacturing company based in Morristown, N.J.

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