PepsiCo takes 1B euro loan after profit forecast cut
PepsiCo, the American company, has issued bonds worth one billion euros in the European market, divided into two tranches with maturities of three and nine years. This comes after it lowered its profit growth expectations due to rising costs and declining sales in North America, particularly in the beverages and snacks sectors. The company is facing challenges in its main markets, as beverage sales in North America have decreased by 3% since the start of the year, though sugar-free products have performed better. This move aligns with PepsiCo’s trend of borrowing from European markets instead of the American market, as American companies' bond issuances in European markets have exceeded 140 billion euros since the beginning of the year.
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