Item 8.01. Other Events.
PepsiCo Senior Notes Offering.
On
PepsiCo received net proceeds of approximately €991 million, after deducting underwriting discounts and estimated offering expenses payable by PepsiCo. The net proceeds will be used for general corporate purposes, including the repurchase of outstanding indebtedness and the repayment of commercial paper.
The Notes were offered and sold pursuant to a Terms Agreement (the "Terms
Agreement") dated
Title of Securities: 0.750% Senior Notes due 2033 Aggregate Principal Amount Offered: €1,000,000,000 Maturity Date:October 14, 2033 Interest Payment Dates: Annually onOctober 14 , commencingOctober 14, 2022 . Coupon: 0.750% Optional Redemption: Prior toJuly 14, 2033 , make-whole call at comparable government bond rate plus 15 basis points; par call at any time on or afterJuly 14, 2033 . Price to Public: 99.669%
The Notes are unsecured obligations of PepsiCo and rank equally with all of PepsiCo's other unsecured senior indebtedness. The Indenture also contains customary event of default provisions.
The above description of the Terms Agreement, the Indenture and the Notes is qualified in its entirety by reference to the Terms Agreement, the Indenture and the forms of Notes. Each of the Terms Agreement, the Standard Provisions and the form of Note is incorporated by reference into the Registration Statement and is filed with this Current Report on Form 8-K as Exhibit 1.1, Exhibit 1.2 and Exhibit 4.1, respectively. The Board of Directors resolutions authorizing PepsiCo's officers to establish the terms of the Notes have been filed as Exhibit 4.7 to the Registration Statement. The Indenture has been filed as Exhibit 4.3 to the Registration Statement. Opinions regarding the legality of the Notes are incorporated by reference into the Registration Statement and are filed with this Current Report on Form 8-K as Exhibits 5.1 and 5.2; and consents relating to such incorporation of such opinions are incorporated by reference into the Registration Statement and are filed with this Current Report on Form 8-K as Exhibits 23.1 and 23.2 by reference to their inclusion within Exhibits 5.1 and 5.2, respectively.
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
1.1 Terms Agreement dated
Underwriting Agreement Standard Provisions dated as ofNovember 18, 2019 ) among PepsiCo and the several underwriters named therein.
1.2
November 18, 2019 (incorporated by reference to Exhibit 1.2 to PepsiCo's Registration Statement on Form S-3 filed with theSEC onNovember 18, 2019 ). 4.1 Form of 0.750% Senior Note due 2033. 5.1 Opinion ofDavis Polk & Wardwell LLP . 5.2 Opinion ofWomble Bond Dickinson (US) LLP . 23.1 Consent ofDavis Polk & Wardwell LLP (included in Exhibit 5.1). 23.2 Consent ofWomble Bond Dickinson (US) LLP (included in Exhibit 5.2).
104 The cover page from this Current Report on Form 8-K, formatted in Inline
XBRL. 3
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