PepsiCo Closes $1.25 Billion 10-Year Green Bond

By Stephen Nakrosis

PepsiCo Inc. said Wednesday it closed a new $1.25 billion 10-year green bond, the company's second since 2019.

PepsiCo said it would use an amount equivalent to net proceeds to fund eligible green projects. The company said investments will focus on the two pillars of its pep+ agenda--positive agriculture and positive value chain.

PepsiCo said it has allocated $858 million from its previous bond to eligible green projects including sustainable plastics and packaging, decarbonization of its operations and supply chain, and water sustainability.

Jim Andrew, the company's chief sustainability officer, said, "While tackling the climate crisis requires a collaborative effort, it is clear that the private sector must play a leadership role. Our new Green Bond will be pivotal to channeling investment into the critical areas required to build a more sustainable and resilient food system."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 20, 2022 17:08 ET (21:08 GMT)

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