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GC Asia
Euro buyers slake Easter thirst on Pepsi debut
PepsiCo, the US soft drinks and snacks group, sold its first bond in a continental European currency for 18 years on Tuesday, with a seven and 12 year euro bond that was capped at €1bn.
BNP Paribas, Deutsche Bank and HSBC announced the SEC registered deal on Tuesday morning. With split ratings of A1/A-/A (all stable), PepsiCo has been warding off attempts by activist investor Nelson Peltz, founder of Trian Fund Management, to make it split its drinks and snacks divisions.
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