PepsiCo Completes €1.0 Billion Dual-Tranche Euro Senior Notes Offering

Overview of the Event

On October 16, 2026, PepsiCo, Inc. (NASDAQ: PEP) filed a Form 8-K under Item 8.01 (Other Events) announcing the closing and issuance of €1.0 billion aggregate principal amount of Euro-denominated senior notes.

Offering Details

The dual-tranche debt offering consists of:

1. 3.750% Senior Notes due 2029

   • Aggregate Principal Amount: €500,000,000
   • Maturity Date: October 16, 2029
   • Public Offering Price: 99.953% of principal amount
   • Coupon: 3.750% payable annually in arrears commencing October 16, 2027
   • Underwriter Purchase Price: 99.728%

2. 4.250% Senior Notes due 2035

   • Aggregate Principal Amount: €500,000,000
   • Maturity Date: October 16, 2035
   • Public Offering Price: 99.824% of principal amount
   • Coupon: 4.250% payable annually in arrears commencing October 16, 2027
   • Underwriter Purchase Price: 99.399%

Proceeds and Ranking

• Net Proceeds: Approximately €994 million after underwriting discounts and estimated offering expenses.
• Use of Proceeds: General corporate purposes, including the repayment of short-term commercial paper.
• Ranking: The notes are unsecured senior obligations ranking equally with all other existing and future unsecured senior debt of PepsiCo.
• Joint Book-Running Managers: Deutsche Bank AG, London Branch and HSBC Bank plc.