By Andrea Heisinger
New York, Oct. 21 - PepsiCo, Inc. priced $2 billion 7.9% 10-year senior notes (Aa2/A+/) Tuesday to yield Treasuries plus 420 basis points, market sources said.
The notes priced at 99.758 to yield 7.935%.
Active bookrunners were Merrill Lynch and Morgan Stanley & Co., with UBS Investment Bank and the Williams Capital Group, LP acting as passive books.
Proceeds will be used for general corporate purposes, including the repayment of outstanding short-term debt.
The snack and beverage company is based in Purchase, N.Y.
| Issuer: | PepsiCo, Inc.
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Maturity: | November 2018
|
| Bookrunners: | Merrill Lynch, Morgan Stanley & Co. (active), UBS Investment Bank, the Williams Capital Group, LP (passive)
|
| Coupon: | 7.9%
|
| Price: | 99.758
|
| Yield: | 7.935%
|
| Spread: | Treasuries plus 420 bps
|
| Trade date: | Oct. 21
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
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