Summary
PepsiCo, Inc. (PEP) announced the successful offering of $1.25 billion in senior notes on July 14, 2022, with the issuance completed on July 18, 2022. This offering comprised $750 million of 3.600% Senior Notes due 2028 and $500 million of 4.200% Senior Notes due 2052. The net proceeds from this issuance, totaling approximately $1,241 million after underwriting discounts and expenses, are intended for general corporate purposes, including the repayment of commercial paper.
Key Highlights
- 1PepsiCo successfully issued $1.25 billion in senior notes.
- 2The offering included two tranches: $750 million of 3.600% notes due 2028 and $500 million of 4.200% notes due 2052.
- 3Net proceeds from the offering amounted to approximately $1,241 million.
- 4The funds raised will be used for general corporate purposes, specifically mentioning the repayment of commercial paper.
- 5The notes are unsecured senior obligations ranking equally with PepsiCo's other unsecured senior indebtedness.
- 6The offering was conducted under PepsiCo's automatic shelf registration statement filed with the SEC.
- 7Key underwriters included Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, and Morgan Stanley & Co. LLC.