
In recent years, artificial intelligence (AI) has fueled a global investment boom, with investors optimistic about the prospects of America’s leading technology giants. Yet, as capital expenditures and R&D spending continue to rise, many of these firms have turned to bond issuance to finance growth. This has raised questions about whether such massive investments can be translated into tangible returns and whether their debt levels might expand excessively.
In reality, most major tech companies—including Microsoft, Google, Amazon, Meta, and Apple—maintain strong profitability, resilient cash flows, and substantial cash reserves. Even with large-scale bond offerings in recent months (such as Google’s ~$24 billion, Amazon’s ~$15 billion, and Meta’s ~$30 billion), their net gearing ratios remain below 10%, making repayment risks relatively manageable.
We have compiled two tables below that cover a selection of long-term bonds (over 15 years) and shorter-term bonds (under 10 years) issued by leading U.S. tech firms such as Microsoft, Apple, Google, Amazon, Meta, Intel, Oracle, and CoreWeave. Most of these bonds are investment-grade, with one high-yield option included, offering diversified choices for investors with varying risk appetites.
It is worth noting that, unlike Asian USD bonds, which typically require a minimum investment of USD 200,000, most U.S. corporate bonds are issued in smaller denominations (Accredited investors (AI) can participate with as little as USD 2,000).
Table 1: US Tech Corp Bonds on FSMOne
(Longer Tenor >15 Years)
|
Bond |
Company |
Tenor (years) |
Yield to Maturity |
Bond Credit Rating (S&P/ Fitch) |
|
Meta |
20.0 |
5.5% |
AA-/ NR |
|
|
|
24.7 |
5.2% |
AA+/ NR |
|
|
Microsoft |
18.1 |
4.9% |
AAA/ NR |
|
|
Apple |
19.2 |
5.2% |
AA+/ NR |
|
|
Amazon |
34.5 |
5.4% |
NR/ AA- |
|
|
Intel |
19.7 |
5.9% |
BBB/ BBB |
|
|
Oracle |
27.2 |
6.5% |
BBB/ BBB |
|
|
Source: FSMOne Data as of 4 December 2025 |
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Table 2: US Tech Corp Bonds on FSMOne (Shorter
Tenor <10 Years)
|
Bond |
Company |
Tenor (years) |
Yield to Maturity |
Bond Credit Rating (S&P/ Fitch) |
|
|
9.5 |
4.4% |
AA+/ NR |
|
|
Meta |
6.7 |
4.3% |
AA-/ NR |
|
|
Microsoft |
9.9 |
4.1% |
AAA/ NR |
|
|
Apple |
6.7 |
4.0% |
AA+/ NR |
|
|
Intel |
7.2 |
4.7% |
BBB/ BBB |
|
|
Dell |
10.6 |
5.3% |
NR/ BBB+ |
|
|
Oracle |
9.8 |
5.4% |
BBB/ BBB |
|
|
CoreWeave |
4.5 |
11.3% |
B+/ BB- |
|
|
Source: FSMOne Data as of 4 December 2025 |
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RISK DISCLOSURE STATEMENTS FOR BONDS
Key risks of investing in bond
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Key risks of investing in high-yield bonds
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| Bonds with special features Some bonds may contain special features and risks that warrant special attention. These include bonds:
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Declaration: For specific disclosure, at the time of publication of this report, IFPL (via its connected and associated entities) holds positions in GOOGL 4.500% 15May2035 Corp (USD). The analyst who produced this report hold NIL positions in the abovementioned securities. |
