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Resideo: Honeywell’s Spin-Off Will Issue Senior Notes

Peter Neil
Resideo: Honeywell’s Spin-Off Will Issue Senior Notes

On September 26, Honeywell’s (HON) future spin-off company, Resideo, said that it would issue $400 million senior notes due in 2026. Resideo’s borrowing from its secured credit facilities and the proceeds from the senior notes will be used to repay Honeywell’s debt or its subsidiaries. Resideo expects to pay $1.2 billion to Honeywell or the company’s subsidiaries.