Global Tech Giants (USD IG)

USD, A-/A3+ technology bonds from Apple, Microsoft, Oracle and Meta.

The Global Tech Giants theme groups USDdenominated bonds from Apple, Microsoft, Oracle and Meta, combining highly rated technology issuers with longdated yields that stand out in the investmentgrade universe. Their balance sheets and cash generation give investors exposure to the sector's structural growth without the volatility typical of equities. The screen is built to capture that credit quality alongside compelling income. Microsoft leads the ranking, with its 6.35% bond maturing in 2066 offering a 6.242% yield to worst and its 4.5% 2057 bond yielding 6.1%. Both carry AAA ratings, so investors are getting toptier credit quality alongside yields that are well above what comparablerated government and corporate benchmarks typically offer. Apple's 4.1% bond due in 2062 yields 6.027%, with a rating of AA+ that remains firmly in highquality territory. It provides a useful relativevalue alternative for investors who want extendedmaturity tech exposure while accepting a modest step down in rating from Microsoft's bonds.

Results are limited to USD bonds with an amount outstanding of at least USD 200MM.