PepsiCo renews $5 billion in two revolving credit facilities, expiring 2027 and 2031
On May 22, 2026, PepsiCo terminated its two existing $5 billion revolving credit agreements from May 2025, both of which had no outstanding borrowings, and entered into replacements of the same $5 billion size. The new facilities are a 364-day agreement expiring May 21, 2027 and a five-year agreement expiring May 22, 2031, and they are for general corporate purposes, so the filing describes a routine refinancing of existing liquidity rather than a change in borrowing.
Key points
- Two new $5 billion unsecured revolving credit agreements dated May 22, 2026, replacing agreements dated May 23, 2025
- 364-day facility expires May 21, 2027; five-year facility expires May 22, 2031
- Both facilities can be increased to up to $5.75 billion; the five-year facility includes a $1.2 billion Euro swing line subfacility
- Citibank, N.A. is administrative agent; no outstanding borrowings existed under the terminated agreements
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:16 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 22, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.