Honeywell Announces Completion Of $6 Billion Term Loan To Enhance Resilience During COVID-19 Outbreak

Honeywell (NYSE: HON) announced today that it has entered into a $6 billion two-year delayed draw term loan agreement to maximize financial flexibility and further bolster liquidity in the event global economic conditions persist or worsen throughout 2020.

"Honeywell is in an extremely strong position to effectively manage the current economic environment. We closed 2019 with $10 billion in cash on our balance sheet, our pension liability is in an overfunded position, and our debt commitments are manageable thanks to the smart actions we took over the past several years to refinance our debt at attractive rates. The term loan we announced today will further strengthen our resilience in uncertain times," said Darius Adamczyk, chairman and chief executive officer of Honeywell.

Further details about the loan agreement will be contained in a Current Report on Form 8-K to be filed by Honeywell with the U.S. Securities and Exchange Commission.

Honeywell (http://www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.