Verizon launches multi-tranche Kangaroo transaction

On 29 October, Verizon Communications (Verizon) (BBB+/Baa1/A-) launched a new multi-tranche Kangaroo transaction. The forthcoming deal consists of 6.5-year, 10.5-year and 20-year tranches, and is expected to price on the day after launch. Indicative price guidance for the tranches is, respectively, 115, 145 and 205 basis points area over semi-quarterly swap.