Brady Raises $800M in Bond Sale to Fund Honeywell Spinoff Purchase
HON sits 26% above its 52-week low of $195.769 on light trading volume (0.2× avg).
Summary
Brady is selling $800 million in bonds to finance its acquisition of the recently spun-off Honeywell Aerospace business. This follows the June 29 completion of the spin-off and HONA's independent trading debut. The bond sale signals Brady's commitment to closing the deal and provides concrete funding details. The transaction is a significant step in the post-spin consolidation of Honeywell's former aerospace unit.
At the time of this announcement, HON was trading at $247.26 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $78.4B. The 52-week trading range was $195.77 to $260.15. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.