In a saucepan bring honey to a boil.
Reduce heat to low and stir in peanut butter.
Add dry cereal, oats and raisins; mix well. Remove from heat
Lightly spray or oil an 8 inch square baking pan with cooking spray. Press into prepared 8-inch pan. When cool, cut into 16 bars.
Store in an airtight container for up to a week.