Honeywell International Inc.'s Proposed Senior Unsecured Notes Rated 'A'

NEW YORK (S&P Global Ratings) July 30, 2019--S&P Global Ratings today assigned its 'A' issue-level rating to Charlotte, N.C.-based Honeywell International Inc.'s proposed senior unsecured notes. We expect the company to issue at least $2.7 billion of unsecured notes, which it will allocate among three tranches (a three-year, a five-year, and a 10-year tranche). Honeywell intends to use the net proceeds from these notes to repay its $1.25 billion 1.4% senior notes, $750 million 1.8% senior notes, and $700 million of outstanding floating-rate senior notes, all of which mature at the end of October 2019. If there are any remaining net proceeds, we would expect the company to use them for general corporate purposes. All of our existing ratings on

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