Honeywell said it entered into a Second 364-Day Credit Agreement on July 2, 2024 with the banks, financial institutions and other institutional lenders party to it, with Bank of America, N.A. as administrative agent.

1. 01

   Honeywell said it entered into a Second 364-Day Credit Agreement on July 2, 2024 with the banks, financial institutions and other institutional lenders party to it, with Bank of America, N.A. as administrative agent.

2. 02

   The company said the agreement provides revolving credit commitments with an aggregate principal amount of $1.5 billion and is maintained for general corporate purposes.

3. 03

   The company said amounts borrowed must be repaid by July 1, 2025, unless it elects to convert all outstanding amounts into a term loan, in which case they would be repaid in full on July 1, 2026. Early termination of the agreement under its terms is an exception.

4. 04

   The company said interest on advances is based on prevailing market rates plus a margin, with a commitment fee payable on unused amounts. It also said the agreement does not restrict its ability to pay dividends and contains no financial covenants.

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