DBRS: PepsiCo notes A

DBRS said it has assigned a rating of A (high) with a stable trend to PepsiCo, Inc.'s multi-tranche debt issue totaling $1.7 billion.

The issuance is made up of the following two tranches:

• $850 million of floating-rate senior unsecured notes maturing July 30, 2015; and

• $850 million of 2.25% senior unsecured notes maturing Jan. 7, 2019.

Proceeds are expected to be used for general corporate purposes, including debt repayment, DBRS stated.

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