PepsiCo reaches loan agreements with Citibank

Purchase-based PepsiCo Inc. has entered into credit agreements with Citibank and other lenders that would extend the soft drink giant a 364-day, $3.715 billion line of unsecured credit as well as a new five-year, $3.715 billion loan agreement, Securities and Exchange Commission filings revealed Thursday.

The agreement, which went into effect Monday, replaces two similar agreements between PepsiCo and Citibank last year. PepsiCo can annually request a one-year extension of the five-year credit agreement and also can seek an additional $785 million in loans with the agreement of Citibank and other lenders.