Davis Polk advised PepsiCo, Inc. on its registered offering of $900 million aggregate principal amount of 0.7% senior notes due 2015, $1 billion aggregate principal amount of 1.25% senior notes due 2017 and $600 million aggregate principal amount of 3.6% senior notes due 2042. Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and RBS Securities Inc. acted as joint book-running managers for the offering.
PepsiCo is a leading global food, snack and beverage company, with 2011 annual revenues of more than $66 billion. Either independently or through contract manufacturers or authorized bottlers, PepsiCo makes, markets and sells a variety of salty, convenient, sweet and grain-based snacks, carbonated and non-carbonated beverages, dairy products and other foods in over 200 countries and territories. 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 Britton M. Sellers and Alexa Taylor. Partner Avishai Shachar and associate William A. Curran provided tax advice. Rosemarie Melendez was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.
