PepsiCo said proceeds will be used for general corporate purposes

PepsiCo said proceeds will be used for general corporate purposes

PepsiCo has completed a US$1.25bn private bond placement in order to refinance debt.

In a filing yesterday (22 August), PepsiCo said that it has completed the placement, which split into senior notes of $500m and $750m set to mature in three and ten years respectively. The notes carry fixed annual interest rates of 0.8% and 3% respectively.

PepsiCo said proceeds from the payment will be used for general corporate purposes. The company last sold bonds in May, when it issued $750m of two-year floating-rate securities and $1bn of five-year notes.