Summary
PepsiCo, Inc. (PEP) announced on November 29, 2007, an offering of $1 billion in senior unsecured notes. These notes will bear a 4.65% annual interest rate and mature on February 15, 2013. The offering was made under PepsiCo's existing shelf registration statement and aims to raise approximately $995.1 million in net proceeds after deducting underwriting fees and expenses. Investors should note that the net proceeds are intended for general corporate purposes, which may include the repayment of outstanding short-term debt. The notes are unsecured and rank equally with other senior unsecured debt of PepsiCo. This filing provides details on the underwriting agreement, the indenture governing the notes, and the form of the note itself, with comprehensive information available through the SEC filings and direct contact with the company or underwriters.
Key Highlights
- 1PepsiCo announced a $1 billion offering of senior unsecured notes.
- 2The notes will carry a fixed interest rate of 4.65% per annum.
- 3Maturity date for the notes is February 15, 2013.
- 4Net proceeds are expected to be approximately $995.1 million.
- 5Proceeds are earmarked for general corporate purposes, including short-term debt repayment.
- 6The offering is being managed by Morgan Stanley, Merrill Lynch, and UBS.
- 7The notes are unsecured and rank equally with existing senior unsecured debt.