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Honeywell International secures $1.5B credit facility

Honeywell International Inc. entered a $1.5 billion 364-day credit agreement with a group of lenders for general corporate purposes.

Borrowings under the agreement must be repaid by Feb. 15, 2019, unless an early termination takes place. The agreement does not limit the company from paying dividends, though failure to meet the conditions will prevent further borrowing.

JPMorgan Chase Bank NA, will be the administrative agent while Goldman Sachs Bank USA will be the syndication agent. Bank of America NA, Barclays Bank PLC, Citibank, NA and Deutsche Bank AG's New York Branch will be documentation agents, and JPMorgan Chase Bank and Goldman Sachs Bank, will act as joint lead arrangers and co-book managers.