Summary
PepsiCo, Inc. (PEP) announced on May 1, 2017, an offering of CAD 750,000,000 of its 2.150% Senior Notes due 2024. The offering, managed by HSBC Securities (Canada) Inc., RBC Dominion Securities Inc., and TD Securities Inc., generated net proceeds of approximately CAD 746 million after deducting underwriting discounts and estimated expenses. The primary purpose for these proceeds is for general corporate uses, specifically mentioning the repayment of commercial paper. This issuance was made under PepsiCo's existing automatic shelf registration statement on Form S-3 and was supplemented by a prospectus filed with the SEC. The Notes are unsecured and rank equally with other senior unsecured indebtedness, with standard default provisions outlined in the Indenture.
Key Highlights
- 1PepsiCo issued CAD 750,000,000 in 2.150% Senior Notes due 2024.
- 2Net proceeds from the offering were approximately CAD 746 million.
- 3Proceeds will be used for general corporate purposes, including commercial paper repayment.
- 4The Notes mature on May 6, 2024.
- 5Interest is payable semi-annually on May 6 and November 6.
- 6The Notes are unsecured and rank equally with other senior unsecured debt.
- 7The offering was conducted under an automatic shelf registration statement (Form S-3).