PEP 8-K — Smart Summary

On May 22, 2026, PepsiCo terminated its two existing 2025 unsecured revolving credit agreements and simultaneously entered into two new unsecured revolving credit agreements — a 364-day facility and a five-year facility — each for $5,000,000,000, with Citibank, N.A. as administrative agent.

• Terminated the $5,000,000,000 364-day unsecured revolving credit agreement dated May 23, 2025; no outstanding borrowings at termination
• New 2026 364-Day Credit Agreement: $5,000,000,000 unsecured revolving facility in U.S. Dollars and/or Euros; expires May 21, 2027; expandable to $5,750,000,000 upon lender agreement
• 2026 364-Day facility may be renewed for an additional 364-day period or converted into a term loan maturing no later than the anniversary of the then effective termination date
• Terminated the $5,000,000,000 five-year unsecured revolving credit agreement dated May 23, 2025; no outstanding borrowings at termination
• New 2026 Five Year Credit Agreement: $5,000,000,000 unsecured revolving facility in U.S. Dollars and/or Euros, including a $1,200,000,000 swing line subfacility for Euro-denominated same-day borrowings; expires May 22, 2031; expandable to $5,750,000,000 upon lender agreement
• 2026 Five Year facility may be extended up to two times for an additional one-year period each; funds under both facilities may be used for general corporate purposes