PepsiCo issues $2.5B in senior notes across three tranches

PEPSICO INC

Issued $1B floating rate notes due Nov 2024 (SOFR+0.40%), $800M 5.250% notes due 2025, $700M 5.125% notes due 2026.
Net proceeds of ~$2.495B after deducting underwriting discounts and estimated offering expenses.
Net proceeds to be used for general corporate purposes, including repayment of commercial paper.
Notes are unsecured and rank equally with all other unsecured senior indebtedness.
BofA Securities acted as book-running manager for the offering.

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