PepsiCo talks benchmark four-part offering of senior notes for Thursday pricing

By Aleesia Forni

Virginia Beach, Oct. 8 – PepsiCo Inc. announced on Thursday plans to price an offering of senior notes (A1/A) in four tranches, according to a market source and a 424B2 filed with the Securities and Exchange Commission.

The sale includes a two-year note talked in the 60 basis points area over Treasuries and a two-year floater talked at the Libor equivalent to the fixed-rate tranche.

A five-year tranche is talked in the range of 95 bps to 100 bps over Treasuries, and a long 30-year tranche is talked in the Treasuries plus 175 bps area.

The bookrunners for the offering are BofA Merrill Lynch, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.

Proceeds will be used for general corporate purposes, including the repayment of commercial paper.

PepsiCo is a Purchase, N.Y.-based global food and beverage company.

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