PepsiCo Raises 1 Billion Euros in European Bond Market

PepsiCo Inc. entered the European public bond market on Friday to raise 1 billion euros, approximately 1.12 billion dollars, through a two-part debt deal. The issuance is split into two 500 million euro tranches: a three-year tranche priced at roughly 60 basis points above mid-swaps and a nine-year tranche marketed at around 105 basis points.

This financial move follows a decision by the company on Thursday to cut its profit outlook. The revision of the company's financial expectations was driven by mounting costs within North America.