PepsiCo’s $6.5 Billion Public Bond Offering

Jones Day represented BofA Securities, Inc.; Citigroup Global Markets Inc.; and J.P. Morgan Securities LLC, underwriters of the offering.

PepsiCo Inc. announced a $6.5 billion bond offering.

The offering consists of $1.5 billion of the company’s 2.250% senior notes due 2025; $500 million of its 2.625% senior notes due 2027; $1.5 billion of its 2.750% senior notes due 2030; $750 million of its 3.500% senior notes due 2040; $1.5 billion of its 3.625% senior notes due 2050; and $750 million of its 3.875% senior notes due 2060.

PepsiCo has priced the 2025 notes at 99.929%, the 2027 notes at 99.487%, the 2030 notes at 99.463%, the 2040 notes at 99.232%, the 2050 notes at 99.474% and the 2060 notes at 98.419%.

Interest on all the series of notes will be paid every March 19 and Sept. 19 of each year starting Sept. 19.

BofA Securities Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers in the offering, while BNP Paribas Securities Corp., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Barclays Capital Inc., BBVA Securities Inc. and TD Securities (USA) LLC are serving as senior co-managers.

PepsiCo has also tapped ANZ Securities Inc., ING Financial Markets LLC, PNC Capital Markets LLC, RBC Capital Markets LLC, SG Americas Securities LLC, UBS Securities LLC, U.S. Bancorp Investments Inc., Drexel Hamilton LLC, Loop Capital Markets LLC and Samuel A. Ramirez & Co. Inc. as co-managers.

The Jones Day team was led by Rory Hood (Picture).

Involved fees earner: Rory Hood – Jones Day;

Law Firms: Jones Day;

Clients: PepsiCo Inc.;