pepsico inc (PEP) Key Developments
Pepsico, Inc. Enters into New Five-Year Unsecured Revolving Credit Agreement
Jun 12 13
Pepsico, Inc. entered into a new $2.875 billion five-year unsecured revolving credit agreement by and among PepsiCo, as borrower, the lenders named therein, and Citibank, N.A., as administrative agent. The Five-Year Credit Agreement and the new $2.875 billion 364-day unsecured revolving credit agreement by and among PepsiCo, as borrower, the Lenders named therein, and Citibank, N.A., as administrative agent, together replace the 2011 Credit Agreement and the 2011 364-Day Credit Agreement. The Five-Year Credit Agreement enables PepsiCo and its borrowing subsidiaries to borrow up to $2.875 billion, subject to customary terms and conditions, and expires on June 10, 2018. PepsiCo may also, upon the agreement of either the then existing lenders or of additional banks not currently party to the Five-Year Credit Agreement, increase the commitments under the Five-Year Credit Agreement to up to $3.5 billion. PepsiCo may, once a year, request renewal of the Five-Year Credit Agreement for an additional one-year period. Subject to certain conditions stated in the Five-Year Credit Agreement, PepsiCo and its borrowing subsidiaries may borrow, prepay and reborrow amounts under the Five-Year Credit Agreement at any time during the term of the Five-Year Credit Agreement. Funds borrowed under the Five-Year Credit Agreement may be used for general corporate purposes of PepsiCo and its subsidiaries. The Five-Year Credit Agreement contains customary representations and warranties and events of default.
PepsiCo Appoints Kristin Patrick as Global Chief Marketing Officer of its Soda Brand
Jun 10 13
PepsiCo appointed Kristin Patrick, Playboy's top marketer, as global chief marketing officer of its soda brand.
Coca-Cola And Pepsi May Reportedly Bid For SodaStream
Jun 7 13
The Coca-Cola Company (NYSE:KO), Pepsico, Inc. (NYSE:PEP) are seeking to make a bid for SodaStream International Ltd. (NasdaqGS:SODA), Israeli media reported. PepsiCo denied the report on Calcalist that it’s in talks to buy SodaStream for more than $2 billion and Kent Landers, Coca-Cola spokesman, said the company doesn’t comment on rumors and speculation.
PepsiCo Denies Reports Of SodaStream Deal Talks
Jun 6 13
Pepsico, Inc. (NYSE:PEP) has denied reports that Pepsico is in talks to buy SodaStream International Ltd. (NasdaqGS:SODA). Pepsi said in a company statement that the report in an Israeli newspaper is "completely and totally untrue."
PepsiCo Reportedly In Talks To Acquire SodaStream For $2 Billion
Jun 6 13
Pepsico, Inc. (NYSE:PEP) is reportedly in talks to acquire SodaStream International Ltd. for $2 billion, the Calcalist financial newspaper reported. Calcalist said that PepsiCo is willing to go even higher than $2 billion and might agree to pay as much as $95 per share. PepsiCo has already made an offer to buy SodaStream through Goldman Sachs , according to the report. Calcalist also said SodaStream is checking its options for a deal with Coca Cola Co before moving into advanced negotiations with PepsiCo. Officials at SodaStream were not immediately available for comment.