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 totalling $2 billion announced on February 25, 2014.

The issuance is made up of the following two tranches (collectively, the Notes):

(1) $750 million 0.95% senior unsecured notes maturing February 22, 2017.

(2) $1.25 billion 3.6% senior unsecured notes maturing March 1, 2024.

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, including the repayment of commercial paper.

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

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