PepsiCo has commenced a cash tender offer

PepsiCo has commenced a cash tender offer

PepsiCo has commenced a cash tender offer in order to refinance a portion of its debt.

The offer, for 7.9% of notes due 2018, consists of an offer to purchase up to US$500m aggregate principal amount of the notes, PespiCo said yesterday (19 October).

The amount being tendered for represents around 25% of the outstanding principal amount of the notes subject to the offer.

It is scheduled to expire at 23:59, US Eastern Time, on 16 November unless extended or terminated.