Bulletin: PepsiCo Inc.'s Offer To Exchange Existing Notes For Senior Unsecured Debt Will Not Change Subordination Risk - S&P Global Ratings’ Credit Research

Bulletin: PepsiCo Inc.'s Offer To Exchange Existing Notes For Senior Unsecured Debt Will Not Change Subordination Risk

Bulletin: PepsiCo Inc.'s Offer To Exchange Existing Notes For Senior Unsecured Debt Will Not Change Subordination Risk - S&P Global Ratings’ Credit Research
Bulletin: PepsiCo Inc.'s Offer To Exchange Existing Notes For Senior Unsecured Debt Will Not Change Subordination Risk
Published Oct 11, 2018
3 pages (1186 words) — Published Oct 11, 2018
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Abstract:

NEW YORK (S&P Global Ratings) Oct. 11, 2018--S&P Global Ratings said today that PepsiCo Inc. announced its offer to exchange its senior unsecured notes originally issued by various PepsiCo subsidiaries (referred to as the Metro Notes) for new notes issued by PepsiCo. We would assign to any exchanged notes the same ratings as PepsiCo's current senior unsecured notes to the extent PepsiCo receives consent for the offer by Nov. 7, 2018. The coupon on any exchanged notes would remain the same. The exchange offer does not result in new material priority debt ahead of PepsiCo's senior unsecured debt. Therefore, the ratings on company's senior unsecured debt ratings are not affected by this announcement. The company's capital structure consists exclusively of

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) Oct. 11, 2018--S&P Global Ratings said today that PepsiCo Inc. announced its offer to exchange its senior unsecured notes originally issued by various PepsiCo subsidiaries (referred to as the Metro Notes) for new notes issued by PepsiCo. We would assign to any exchanged notes the same ratings as PepsiCo's current senior unsecured notes to the extent PepsiCo receives consent for the offer by Nov. 7, 2018. The coupon on any exchanged notes would remain the same. The exchange offer does not result in new material priority debt ahead of PepsiCo's senior unsecured debt. Therefore, the ratings on company's senior unsecured debt ratings are not affected by this announcement. The company's capital structure consists exclusively of senior unsecured debt primarily issued by PepsiCo with no material priority liabilities. Other subsidiaries issued a small portion (less than 5%) of the company's outstanding bonds including Pepsi-Cola Metropolitan Bottling Co. Inc. With...

  
Report Type:

Bulletin

Ticker
PEP
Issuer
PepsiCo Inc.
GICS
Soft Drinks (30201030)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: PepsiCo Inc.'s Offer To Exchange Existing Notes For Senior Unsecured Debt Will Not Change Subordination Risk" Oct 11, 2018. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-PepsiCo-Inc-s-Offer-To-Exchange-Existing-Notes-For-Senior-Unsecured-Debt-Will-Not-Change-Subordination-Risk-2112424>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: PepsiCo Inc.'s Offer To Exchange Existing Notes For Senior Unsecured Debt Will Not Change Subordination Risk Oct 11, 2018. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-PepsiCo-Inc-s-Offer-To-Exchange-Existing-Notes-For-Senior-Unsecured-Debt-Will-Not-Change-Subordination-Risk-2112424>
  
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