Honeywell Aerospace Raises $16 Billion From First Bond Sale

Honeywell Aerospace Inc. raised $16 billion from its inaugural US investment-grade bond sale ahead of the company’s planned spinoff later this year.

The nine-part deal spans maturities of two to 40 years, according to a person familiar with the matter who asked not to be identified as they’re not authorized to speak publicly. The spread for the longest tranche, a bond maturing in 2066, tightened to 1.07 percentage point above Treasuries from initial price talk of as much as 1.35 percentage points, the person said.