4 April 2020: A recent announcement by Honeywell stated that they have entered into a USD6 billion two-year delayed draw term loan agreement to maximize financial flexibility and further bolster liquidity in the event global economic conditions persist or worsen throughout 2020.
"Honeywell is in an extremely strong position to effectively manage the current economic environment. We closed 2019 with USD10 billion in cash on our balance sheet, our pension liability is in an overfunded position, and our debt commitments are manageable thanks to the smart actions we took over the past several years to refinance our debt at attractive rates. The term loan we announced today will further strengthen our resilience in uncertain times," said Darius Adamczyk, chairman and chief executive officer of Honeywell.