HONEYWELL BULL SEEKING 400 MLN DLR FACILITY
<Honeywell Bull> is seeking a 400 mln dlr,
five-year multi option facility, arranger Banque Nationale de
Paris said.
    The facility will be co-arranged by Morgan Guaranty and The
Industrial Bank of Japan Ltd.
    The operation has an "evergreen" facility and can be extended
up to eight years, BNP said.
    The facility will be made up of two components. The first "A"
part will consist of a maximum 400 mln dlrs with a maximum
spread of Libor plus 3/8 pct.
    Component "B," to be unsecured, will be for a maximum of 200
mln dlrs with a maximum spread of Libor plus 5/8 pct for the
first three years, Libor plus 3/4 pct for the fourth to sixth
years and LIBOR plus 7/8 pct for the seventh year.
    Honeywell Bull was recently created by Cie des Machines
Bull <BULP.PA>, <Honeywell Inc> and <NEC Corp> of Japan.
 REUTER
