Honeywell enters $6B term loan facility to fund separation into three public companies

HONEYWELL INTERNATIONAL INC

$6B delayed draw term loan: $4B Tranche A-1 (expires May 30) and $2B Tranche A-2 (expires Dec 19, 2025).
Funds Honeywell's separation of Automation, Aerospace and Solstice Advanced Materials into three independent public cos.
No financial covenants; dividend payments unrestricted. Interest based on SOFR plus margin (0.875%-1.125%).
Ticking fee on unused commitments: 0.07%-0.11% per annum based on credit rating.
Administrative agent: Bank of America; syndication agents include JPMorgan, Wells Fargo, Citibank, Goldman, Mizuho.

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