PepsiCo Gets Big Bids in Test of Long-Dated Euro Bond Demand (1)

PepsiCo Inc. is drawing bumper demand for a euro debt offering that includes the longest-dated company bond in the common currency since February.

The US drinks and snacks giant has pulled in more than €7.25 billion ($8.44 billion) of combined investor orders for the €1 billion two trancher, according to two separate people with knowledge of the deal. The most popular tranche is the 30-year portion, with more than €4 billion of orders.

The €500 million 30-year tranche is the longest-tenor euro non-financial senior corporate debt sale since Johnson & Johnson priced 30-year notes as part of a five-part ...