DBRS Assigns Rating of A (high) to PepsiCo’s New Debt Issuance, Stable Trend

DBRS has today assigned a rating of A (high) with a Stable trend to PepsiCo, Inc.’s (PepsiCo) multi-tranche debt issue of $1.75 billion. The transaction is expected to close on or about May 10, 2011.

The two tranches (the Notes) are made up of:

a) $750 million, floating-rate notes maturing May 10, 2013; and
b) $1 billion, 2.5% senior notes due May 10, 2016.

The Notes will be unsecured obligations ranking pari passu with PepsiCo’s other senior unsecured indebtedness. Proceeds are expected to be used for general corporate purposes.

Note:
All figures are in U.S. dollars unless otherwise noted

The applicable methodology is Rating the Consumer Products Industry, which can be found on our website under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.