Honeywell Sells $1.4B In Notes

Technologies inventor and manufacturer,Honeywell International,has raised a total of $1.4 billion in a two-part bond sale,The Wall Street Journalreports. The first tranche of notes worth $800 million, which carry a coupon rate of 4.25%, will mature on March 1, 2021, while the second tranche of $600 million bonds, which carry a coupon rate of 5.37%, will be due on March 1, 2041.

The U.S. conglomerate company will use the proceeds from the offering to buy-back $400 million of its outstanding 5.625% notes, due in August 2012, to repay commercial paper and for general corporate purposes. The joint book-running managers on the sale wereBank of AmericaMerrill Lynch,BarclaysandCiti.

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