PepsiCo entered into new credit agreements totaling $10 billion to replace its previous financing facilities.
The arrangement includes a $5 billion 364-day revolving credit agreement managed by Citibank. Citibank also manages a separate $5 billion five-year revolving credit agreement.
The company terminated its existing credit lines, which had no outstanding borrowings, to facilitate the restructuring. The first new facility expires in 2027. The second facility expires in 2031.
Both agreements allow for future extensions. PepsiCo intends to use the credit for general corporate purposes to bolster liquidity.