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 $1.7 billion announced on July 25, 2013.

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

(1) $850 million floating-rate (quarterly LIBOR + 20 basis points) senior unsecured notes maturing July 30, 2015.

(2) $850 million 2.25% senior unsecured notes maturing January 7, 2019.

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 debt repayment.

Notes:
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.