PEPSICO INC 8-K

What Happened
PepsiCo, Inc. announced a debt offering and issued €2,500,000,000 aggregate principal amount of senior notes on February 11, 2026. The offering consisted of four tranches: €500M floating-rate notes due 2028, €650M 3.300% notes due 2034, €850M 3.700% notes due 2038, and €500M 4.150% notes due 2047. PepsiCo received approximately €2,482 million in net proceeds after underwriting discounts and estimated offering expenses. The notes were sold under PepsiCo’s automatic shelf registration (Form S-3) and were issued pursuant to an Indenture dated February 12, 2024.

Key Details

• Aggregate principal: €500M (2028 floating), €650M (2034, 3.300%), €850M (2038, 3.700%), €500M (2047, 4.150%).
• Net proceeds: ~€2,482 million; stated use: general corporate purposes, including repayment of commercial paper.
• Floating-rate notes: three‑month EURIBOR + 0.230% (floor 0%). Interest dates: quarterly; fixed-rate notes pay annually.
• Notes are unsecured senior obligations ranking equally with PepsiCo’s other unsecured senior debt; underwriters included BNP Paribas, Goldman Sachs, Mizuho International and Morgan Stanley.

Why It Matters
This filing informs investors that PepsiCo raised multi‑year financing, extending debt maturities and securing liquidity for operations and short‑term debt repayment. The mix of floating- and fixed-rate euro-denominated notes affects PepsiCo’s interest expense and currency exposure and signals access to capital markets at current euro yields. The notes are unsecured senior debt and therefore are on parity with PepsiCo’s other senior indebtedness.