PepsiCo Issues Multiple Series of Notes

Ticker: PEP · Form: 8-K · Filed: 2024-07-17T00:00:00.000Z

Sentiment: neutral

Topics: debt-issuance, financing, notes

Related Tickers: PEP

TL;DR

PepsiCo just dropped a bunch of new debt offerings with varying maturity dates and interest rates.

AI Summary

On July 17, 2024, PepsiCo Inc. filed an 8-K to report the issuance of various series of notes. These include notes due in 2026, 2027, 2028, 2029, 2031, 2032, 2033, 2034, and 2039, with coupon rates ranging from 0.4% to 3.55%. The filing also includes exhibits related to common stock and these debt instruments.

Why It Matters

This filing indicates PepsiCo is raising capital through debt issuance, which could be for general corporate purposes, refinancing existing debt, or funding future investments.

Risk Assessment

Risk Level: low — This is a routine debt issuance filing by a large, stable company and does not indicate any unusual risks.

Key Numbers

3.55% — Highest Coupon Rate (Represents the highest interest rate on the newly issued notes.)
0.4% — Lowest Coupon Rate (Represents the lowest interest rate on the newly issued notes.)
2039 — Latest Maturity Date (Indicates the longest term for the debt issued.)

Key Players & Entities

PEPSICO INC (company) — Filer
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
3.55% Notes Due 2034 (dollar_amount) — Debt Instrument

FAQ

What is the total principal amount of the notes issued by PepsiCo?

The filing does not specify the total principal amount of the notes issued, only the terms and coupon rates for various series.

What is the purpose of these new note issuances?

The filing states the notes are for general corporate purposes, but does not provide further specifics on how the capital will be utilized.

When were these notes issued?

The filing was made on July 17, 2024, and the notes listed are dated as of July 17, 2024.

What are the maturity dates for the notes?

The maturity dates range from 2026 to 2039, with specific series due in 2026, 2027, 2028, 2029, 2031, 2032, 2033, 2034, and 2039.

Are there any specific covenants or conditions associated with these notes?

The filing includes exhibits that would detail the terms and conditions, including covenants, but the summary does not provide these details.

From the Filing

0001104659-24-080566.txt : 20240717 0001104659-24-080566.hdr.sgml : 20240717 20240717163101 ACCESSION NUMBER: 0001104659-24-080566 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 21 CONFORMED PERIOD OF REPORT: 20240717 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240717 DATE AS OF CHANGE: 20240717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PEPSICO INC CENTRAL INDEX KEY: 0000077476 STANDARD INDUSTRIAL CLASSIFICATION: BEVERAGES [2080] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 131584302 STATE OF INCORPORATION: NC FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-01183 FILM NUMBER: 241122608 BUSINESS ADDRESS: STREET 1: 700 ANDERSON HILL RD CITY: PURCHASE STATE: NY ZIP: 10577 BUSINESS PHONE: 9142532000 MAIL ADDRESS: STREET 1: 700 ANDERSON HILL ROAD CITY: PURCHASE STATE: NY ZIP: 10577-1444 FORMER COMPANY: FORMER CONFORMED NAME: PEPSI COLA CO DATE OF NAME CHANGE: 19700903 8-K 1 tm2416937d4_8k.htm FORM 8-K false 0000077476 0000077476 2024-07-17 2024-07-17 0000077476 pep:Commonstockparvalue123centspershareMember 2024-07-17 2024-07-17 0000077476 pep:TwoPointSixTwoFivePercentNotesDue2026Member 2024-07-17 2024-07-17 0000077476 pep:ZeroPointSevenFivePercentNotesDue2027Member 2024-07-17 2024-07-17 0000077476 pep:ZeroPointEightSevenFivePercentNotesDue2028Member 2024-07-17 2024-07-17 0000077476 pep:ZeroPointFivePercentNotesDue2028Member 2024-07-17 2024-07-17 0000077476 pep:ThreePointTwoPercentNotesDue2029Member 2024-07-17 2024-07-17 0000077476 pep:OnePointOneTwoFivePercentNotesDue2031Member 2024-07-17 2024-07-17 0000077476 pep:ZeroPointFourPercentNotesDue2032Member 2024-07-17 2024-07-17 0000077476 pep:ZeroPointSevenFivePercentNotesDue2033Member 2024-07-17 2024-07-17 0000077476 pep:ThreePointFiveFivePercentNotesDue2034Member 2024-07-17 2024-07-17 0000077476 pep:ZeroPointEightSevenFiveNotesDue2039Member 2024-07-17 2024-07-17 0000077476 pep:OnePointZeroFivePercentNotesDue2050Member 2024-07-17 2024-07-17 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549       FORM 8-K   CURRENT REPORT   Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): July 17, 2024       PepsiCo, Inc. (Exact name of registrant as specified in its charter)       North Carolina 1-1183 13-1584302 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)     700 Anderson Hill Road , Purchase , New York 10577   (Address of principal executive offices) (Zip Code)   Registrant’s telephone number, including area code: ( 914 ) 253-2000   N/A (Former name or former address, if changed since last report)       Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))       Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:   Title of each class   Trading Symbol   Name of each exchange on which registered Common Stock, par value 1-2/3 cents per share   PEP   The Nasdaq Stock Market LLC 2.625% Senior Notes due 2026   PEP26   The Nasdaq Stock Market LLC 0.750% Senior Notes due 2027   PEP27   The Nasdaq Stock Market LLC 0.875% Senior Notes due 2028   PE