Davis Polk advised PepsiCo, Inc. on its registered offering of $500 million aggregate principal amount of 0.8% senior notes due 2014 and $750 million aggregate principal amount of 3.0% senior notes due 2021. BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering.

PepsiCo is a leading global food, snack and beverage company, with 2010 annual revenues of more than $57 billion. Either independently or through contract manufacturers, PepsiCo makes, markets and sells oat, rice and grain-based foods, as well as carbonated and non-carbonated beverages, in over 200 countries. Its largest operations are in the United States, Canada, Mexico, Russia and the United Kingdom. 

The Davis Polk team included partner Joseph A. Hall and associates Sarah Ashfaq and Kristen L. Haase. Partners Avishai Shachar and Mario J. Verdolini and associates Craig A. Phillips and William A. Curran provided tax advice. Natalie Chan was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.