LONG-TERM DEBT AND CREDIT AGREEMENTS

9 Months Ended

Sep. 30, 2016

Long Term Debt And Credit Agreements [Abstract]

Note 10. Long-term Debt and Credit Agreements

		September 30,		December 31,
		2016		2015

5.40% notes due 2016	$	-	$	400
5.30% notes due 2017		400		400
Floating rate Euro notes due 2018		1,116		-
5.30% notes due 2018		900		900
5.00% notes due 2019		900		900
0.65% Euro notes due 2020		1,116		-
4.25% notes due 2021		800		800
1.30% Euro notes due 2023		1,395		-
3.35% notes due 2023		300		300
2.25% Euro notes due 2028		837		-
5.70% notes due 2036		550		550
5.70% notes due 2037		600		600
5.375% notes due 2041		600		600
Industrial development bond obligations, floating
rate maturing at various dates through 2037		30		30
6.625% debentures due 2028		216		216
9.065% debentures due 2033		51		51
Other (including capitalized leases and debt issuance costs),
0.6%-9.5% maturing at various dates through 2023		446		384
		10,257		6,131
Less: current portion		(649)		(577)
	$	9,608	$	5,554

In February 2016, the Company issued €1,000 million Floating Rate Senior Notes due 2018, €1,000 million 0.65% Senior Notes due 2020, €1,250 million 1.30% Senior Notes due 2023 and €750 million 2.25% Senior Notes due 2028 (collectively, the “Euro Notes”). The Euro 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 $4,438 million, offset by $17 million in discount and closing costs related to the offering.

On April 29, 2016, the Company entered into Amendment No. 2 (Amendment) to the Amended and Restated $4 billion Credit Agreement dated as of July 10, 2015, as amended by the certain Amendment No. 1 dated as of September 30, 2015 (as so amended, the “Credit Agreement”), with a syndicate of banks. The Credit Agreement is maintained for general corporate purposes. Commitments under the Credit Agreement can be increased pursuant to the terms of the Credit Agreement to an aggregate amount not to exceed $4.5 billion. The Amendment, among other things, extends the Credit Agreement’s termination date from July 10, 2020 to July 10, 2021.

On April 29, 2016, the Company entered into a $1.5 billion 364-Day Credit Agreement (364-Day Credit Agreement) with a syndicate of banks. The 364-Day Credit Agreement is maintained for general corporate purposes.

On April 29, 2016, the Company terminated all commitments under the $3 billion credit agreement dated as of September 30, 2015, among the Company, the lenders party thereto and Citibank, N.A., as administrative agent.

A full description of the Credit Agreement and the 364-Day Credit Agreement can be found in the Company’s Current Report on Form 8-K, dated April 29, 2016.

On August 5, 2016, the Company entered into a $1.5 billion 364-Day Credit Agreement (Second 364-Day Credit Agreement) with a syndicate of banks. The Second 364-Day Credit Agreement is maintained for general corporate purposes.

A full description of the Second 364-day Credit Agreement can be found in the Company’s Current Report on Form 8-K, dated August 5, 2016.

There have been no borrowings under any of the credit agreements previously described.