PepsiCo Details Debt Structure with Notes Maturing 2024-2034

TL;DR

**PepsiCo just updated its debt schedule, showing notes maturing from 2024 to 2034 with varying interest rates.**

AI Summary

PepsiCo Inc. filed an 8-K on February 16, 2024, disclosing various debt instruments, including 0.25% Notes Due 2024, 2.625% Notes Due 2026, and 3.55% Notes Due 2034. The filing details the specific interest rates and maturity dates for a range of notes, from 2024 to 2034, indicating the company's current debt structure. This filing is primarily informational, updating the public on the status of these financial instruments.

Why It Matters

This filing provides transparency into PepsiCo's financial obligations, which is crucial for investors to assess the company's liquidity and long-term financial health.

Risk Assessment

Risk Level: low — This 8-K is an informational filing about existing debt instruments and does not indicate new risks or significant changes.

Key Numbers

• 0.25% — Interest Rate (Notes Due 2024)
• 2.625% — Interest Rate (Notes Due 2026)
• 3.55% — Interest Rate (Notes Due 2034)
• 2024 — Maturity Year (Earliest noted debt maturity)
• 2034 — Maturity Year (Latest noted debt maturity)

Key Players & Entities

• PEPSICO INC (company) — Filer of the 8-K
• 0.25% Notes Due 2024 (dollar_amount) — Debt instrument
• 2.625% Notes Due 2026 (dollar_amount) — Debt instrument
• 0.75% Notes Due 2027 (dollar_amount) — Debt instrument
• 0.875% Notes Due 2028 (dollar_amount) — Debt instrument
• 0.5% Notes Due 2028 (dollar_amount) — Debt instrument
• 3.2% Notes Due 2029 (dollar_amount) — Debt instrument
• 1.125% Notes Due 2031 (dollar_amount) — Debt instrument
• 0.4% Notes Due 2032 (dollar_amount) — Debt instrument
• 0.75% Notes Due 2033 (dollar_amount) — Debt instrument

FAQ

Key Financial Figures

• $300,000,000 — c. ("PepsiCo") announced an offering of $300,000,000 aggregate principal amount of Floating
• $550,000,000 — 2027 (the "2027 Floating Rate Notes"), $550,000,000 aggregate principal amount of 4.650% Se
• $450,000,000 — nior Notes due 2027 (the "2027 Notes"), $450,000,000 aggregate principal amount of 4.550% Se
• $1,739 m — received net proceeds of approximately $1,739 million, after deducting underwriting dis
• $450,000,000 M — 00,000,000 $550,000,000 $450,000,000 $450,000,000 Maturity Date: February 16, 2027 Februa

Filing Documents

• tm244508d6_8k.htm (8-K) — 66KB
• tm244508d6_ex1-1.htm (EX-1.1) — 76KB
• tm244508d6_ex4-1.htm (EX-4.1) — 66KB
• tm244508d6_ex4-2.htm (EX-4.2) — 40KB
• tm244508d6_ex4-3.htm (EX-4.3) — 39KB
• tm244508d6_ex4-4.htm (EX-4.4) — 40KB
• tm244508d6_ex5-1.htm (EX-5.1) — 10KB
• tm244508d6_ex5-2.htm (EX-5.2) — 10KB
• tm244508d6_ex5-3.htm (EX-5.3) — 12KB
• tm244508d6_ex5-1img001.jpg (GRAPHIC) — 3KB
• tm244508d6_ex4-1img001.jpg (GRAPHIC) — 4KB
• 0001104659-24-024927.txt ( ) — 729KB
• pep-20240216.xsd (EX-101.SCH) — 7KB
• pep-20240216_def.xml (EX-101.DEF) — 31KB
• pep-20240216_lab.xml (EX-101.LAB) — 49KB
• pep-20240216_pre.xml (EX-101.PRE) — 29KB
• tm244508d6_8k_htm.xml (XML) — 17KB

01. Other Events

Item 8.01. Other Events. Senior Notes Offering. On February 12, 2024, PepsiCo, Inc. ("PepsiCo") announced an offering of $300,000,000 aggregate principal amount of Floating Rate Notes due 2027 (the "2027 Floating Rate Notes"), $550,000,000 aggregate principal amount of 4.650% Senior Notes due 2027 (the "2027 Notes"), $450,000,000 aggregate principal amount of 4.550% Senior Notes due 2029 (the "2029 Notes") and $450,000,000 aggregate principal amount of 4.700% Senior Notes due 2034 (the "2034 Notes," and together with the 2027 Floating Rate Notes, 2027 Notes and 2029 Notes, the "Notes"), each issued by PepsiCo Singapore Financing I Pte. Ltd. (the "Issuer"), a wholly owned subsidiary of PepsiCo. The Notes are fully and unconditionally guaranteed by PepsiCo on a senior unsecured basis (the Notes, together with such guarantee, the "Securities"). Deutsche Bank AG, Singapore Branch, Goldman Sachs (Singapore) Pte., Mizuho Securities (Singapore) Pte. Ltd. and Morgan Stanley Asia (Singapore) Pte. were joint book-running and joint lead managers for the offering of the Securities. The Issuer received net proceeds of approximately $1,739 million, after deducting underwriting discounts and estimated offering expenses. The net proceeds will be used for PepsiCo's general corporate purposes, including the repayment of commercial paper. The Securities were offered and sold pursuant to a Terms Agreement (the "Terms Agreement") dated February 12, 2024 (incorporating the PepsiCo Singapore Underwriting Agreement Standard Provisions dated as of February 12, 2024 (the "Standard Provisions")) among the Issuer, PepsiCo and the representatives of the several underwriters, under PepsiCo's and the Issuer's automatic shelf registration statement on Form S-3 (File Nos. 333-277003 and 333-277003-01), filed with the Securities and Exchange Commission (the "SEC") on February 12, 2024 (the "Registration Statement"). PepsiCo and the Issuer have filed with the SEC a prospectus supplement, dated

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d)Exhibits 1.1 Terms Agreement dated February 12, 2024 (incorporating the PepsiCo Singapore Underwriting Agreement Standard Provisions dated as of February 12, 2024) among the Issuer, PepsiCo and Deutsche Bank AG, Singapore Branch, Goldman Sachs (Singapore) Pte., Mizuho Securities (Singapore) Pte. Ltd. and Morgan Stanley Asia (Singapore) Pte., as Representatives of the several underwriters named therein. 1.2 PepsiCo Singapore Underwriting Agreement Standard Provisions dated as of February 12, 2024 (incorporated by reference to Exhibit 1.4 to the Issuer's and PepsiCo's Registration Statement on Form S-3 (File Nos. 333-277003 and 333-277003-01). 4.1 Form of Floating Rate Note due 2027. 4.2 Form of 4.650% Senior Note due 2027. 4.3 Form of 4.550% Senior Note due 2029. 4.4 Form of 4.700% Senior Note due 2034. 5.1 Opinion of Davis Polk & Wardwell LLP. 5.2 Opinion of Womble Bond Dickinson (US) LLP. 5.3 Opinion of WongPartnership LLP. 23.1 Consent of Davis Polk & Wardwell LLP (included in Exhibit 5.1). 23.2 Consent of Womble Bond Dickinson (US) LLP (included in Exhibit 5.2). 23.3 Consent of WongPartnership LLP (included in Exhibit 5.3). 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 16, 2024 PepsiCo, Inc. By: /s/ Cynthia A. Nastanski Name: Cynthia A. Nastanski Title: Senior Vice President, Corporate Law and Deputy Corporate Secretary 3

View Full Filing

View this 8-K filing on SEC EDGAR