Citibank served as administrative agent on a two-year, $6 million term loan for Honeywell, according to an 8K filed with the SEC. Citibank, Bank of America, JP Morgan Chase Bank and Wells Fargo served as syndications agents.

“Honeywell is in an extremely strong position to effectively manage the current economic environment,” Darius Adamczyk, chairman and CEO of Honeywell, said. “We closed 2019 with $10 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.”

Honeywell is a Fortune 100 technology company that delivers aerospace products and services, control technologies for buildings and industry, and performance materials.