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 EUR 1 billion announced on April 23, 2014.

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

(1) EUR 500 million 1.75% senior unsecured notes maturing April 28, 2021.

(2) EUR 500 million 2.625% senior unsecured notes maturing April 28, 2026.

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