Global Tech Giants (USD IG)
USD, A-/A3+ technology bonds from Apple, Microsoft, Oracle and Meta.
This screening highlights an attractive pocket of longduration USD investmentgrade debt issued by marquee technology leaders Microsoft and Apple, offering professional fixedincome portfolios a rare convergence of premier credit quality and compelling nominal yields. Driven by a higherrate environment that has depressed longend bond prices into deep discount territory, yields to worst across the screened cohort are tightly clustered between 6.10% and 6.26%, providing substantial structural yield pickup without taking on credit risk. Standout opportunities include Microsoft’s AAArated 4.75% 2055 maturity trading at a cash price of 79.94 to yield 6.26%, alongside Apple’s AA+rated 3.75% 2047 paper offering a 6.20% YTW at a cash price of 71.49.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Microsoft Corp. | …BM55 | 4.75 | 6.256 | 79.941 | 2055-11-03 | 2055-05-03 | AAA | USD | 295MM |
| 2 | Apple Inc. | …DD98 | 3.75 | 6.202 | 71.4919674 | 2047-09-12 | 2047-03-12 | AA+ | USD | 1BN |
| 3 | Apple Inc. | …EK23 | 2.7 | 6.172 | 56.1944926 | 2051-08-05 | 2051-02-05 | AA+ | USD | 1.8BN |
| 4 | Apple Inc. | …DG20 | 3.75 | 6.159 | 71.7746005 | 2047-11-13 | 2047-05-13 | AA+ | USD | 1.25BN |
| 5 | Microsoft Corp. | …CU62 | 4.5 | 6.157 | 80.76 | 2047-06-15 | 2046-12-15 | AAA | USD | 392MM |
| 6 | Microsoft Corp. | …CD48 | 2.675 | 6.137 | 50.9748637 | 2060-06-01 | 2059-12-01 | AAA | USD | 3.75BN |
| 7 | Microsoft Corp. | …CF95 | 3.041 | 6.132 | 55.5225556 | 2062-03-17 | 2061-09-17 | AAA | USD | 1.93BN |
| 8 | Microsoft Corp. | …CW29 | 2.5 | 6.112 | 54.9073715 | 2050-09-15 | 2050-03-15 | AAA | USD | 1.43BN |
| 9 | Apple Inc. | …EL06 | 2.85 | 6.105 | 53.255 | 2061-08-05 | 2061-02-05 | AA+ | USD | 1.4BN |
| 10 | Microsoft Corp. | …CC64 | 2.525 | 6.102 | 55.54625 | 2050-06-01 | 2049-12-01 | AAA | USD | 6.25BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.