Apple considering 4- and 7-year tenors for Kangaroo debut
By John Weavers
SYDNEY, Aug 19 (IFR) - US tech giant Apple, rated Aa1/AA+ (Moody's/S&P), is gearing up for a debut Kangaroo issue this week, according to bankers with knowledge of the transaction. This follows a series of successful Australian and Asian investor calls yesterday.
Expectations centre on a benchmark dual-tranche offering via joint lead managers CBA, Deutsche Bank and Goldman Sachs, with four- and seven-year tenors favoured at the moment.
The deal is likely to be announced either later today or tomorrow, alongside initial guidance, with pricing seen either on Thursday or Friday.
(Reporting By John Weavers; editing by Dharsan Singh and Daniel Stanton)
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