Verizon Communications (BBB+/Baa1/A-) launched a new multi-tranche, Kangaroo, benchmark transaction on 15 March. Offered in seven- and 10-year tenors, indicative price guidance for the deal is 115 and 140 basis points area over semi-quarterly swap. The issuer is also considering a 20-year tranche with a price guidance of 175 basis points area over semi-quarterly swap.
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