Honeywell announced (14-Feb-2011) the commencement of the public offering of its USD800 million 4.250% Senior Notes due 2021 and its USD600 million 5.375% Senior Notes due 2041. Honeywell intends to use the proceeds of the offering to repay outstanding indebtedness, including the repurchase of up to USD400 million of senior notes due 2012, to repay commercial paper, and for general corporate purposes. BofA Merrill Lynch, Barclays Capital and Citi are acting as the joint book-running managers for the public offering of the notes. [more]
Honeywell announces public offering of senior notes
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Emirates has multiple reasons for cutting back on US capacity
As the most conspicuous and largest, Emirates Airline often takes on its shoulders the increasingly difficult task of defending Gulf aviation. Emirates often single handedly represents the Gulf and "Middle East Big 3", in much the same way as Dubai carries regional geopolitics.
Just as there are significant differences between the Big 3 US airlines who have strenuously opposed the Gulf carriers in the US market, so Emirates is fundamentally different from its peers: it is longer established, has a larger home market and has had a more commercial mandate from the beginning.
Yet Emirates must compete in a market where many others would like a piece of that market. Just as Dubai Inc modelled itself in many ways on Singapore Inc, there are many who would follow the same trail. This does not lead to steady market conditions.
Certainly the policies of US President Trump have hurt aviation and tourism. But Emirates' announcement of a 19% reduction in services to the United States is less about US policies and more about the nature of the market forces that started before Trump was even a serious Presidential contender.