LONG-TERM DEBT AND CREDIT AGREEMENTS

9 Months Ended

Sep. 30, 2019

Note 11. Long-term Debt and Credit Agreements



	September 30, 2019			December 31, 2018
1.40% notes due 2019	$	1,250		$	1,250
Three year floating rate notes due 2019	250			250
Two year floating rate notes due 2019	450			450
1.80% notes due 2019	750			750
0.65% Euro notes due 2020	1,093			1,145
4.25% notes due 2021	800			800
1.85% notes due 2021	1,500			1,500
2.15% notes due 2022	600			—
Floating rate notes due 2022	600			—
1.30% Euro notes due 2023	1,367			1,432
3.35% notes due 2023	300			300
2.30% notes due 2024	750			—
2.50% notes due 2026	1,500			1,500
2.25% Euro notes due 2028	820			859
2.70% notes due 2029	750			—
5.70% notes due 2036	441			441
5.70% notes due 2037	462			462
5.375% notes due 2041	417			417
3.812% notes due 2047	445			445
Industrial development bond obligations, floating rate maturing at various dates through 2037	22			22
6.625% debentures due 2028	201			201
9.065% debentures due 2033	51			51
Other (including capitalized leases and debt issuance costs), 6.0% weighted average maturing at various dates through 2025	370			353
	15,189			12,628
Less: current portion	(4,088		)	(2,872		)
	$	11,101		$	9,756

On August 8, 2019, the Company issued $600 million 2.15% Senior Notes due 2022, $600 million Floating Rate Senior Notes due 2022, $750 million 2.30% Senior Notes due 2024 and $750 million 2.70% Senior Notes due

2029 (collectively the "2019 Notes"). The 2019 Notes are senior unsecured and unsubordinated obligations of Honeywell and rank equally with all of Honeywell's existing and future senior unsecured debt and senior to all of Honeywell's subordinated debt. The offering resulted in gross proceeds of $2,700 million, offset by $18 million in discount and closing costs related to the offering. The 2019 Notes issued in the amount of $2,700 million were issued to prefund the repayment of our 1.40% notes, 1.80% notes, three year floating rate notes and two year floating rate notes, in each case due on October 30, 2019.

For issuances described above, unless otherwise noted, all debt issuance costs are deferred and recognized as a direct deduction to the related debt liability and are amortized to interest expense over the debt term.

On April 26, 2019, the Company entered into a $4.0 billion Amended and Restated Five Year Credit Agreement (the “5-Year Credit Agreement”), with a syndicate of banks. The 5-Year Credit Agreement is maintained for general corporate purposes. Commitments under the 5-Year Credit Agreement can be increased pursuant to the terms of the 5-Year Credit Agreement to an aggregate amount not to exceed $4.5 billion. The 5-Year Credit Agreement amends and restates the previously reported $4.0 billion amended and restated five year credit agreement dated as of April 27, 2018 (the "Prior Agreement"). The 5-Year Credit Agreement has substantially the same material terms and conditions of the Prior Agreement.

On April 26, 2019, the Company entered into a $1.5 billion 364-Day Credit Agreement with a syndicate of banks. This 364-Day Credit Agreement is maintained for general corporate purposes.

As of September 30, 2019, there are no outstanding borrowings under any of our credit agreements.