New on Bondsupermart Live: 12 Income Opportunities across Tech, Retail, and Global Utilities!

2. PayPal: PYPL 5.050% 01Jun2052 Corp (USD) (Yield: 5.93%)
PayPal is one of the world's largest digital payments platforms, operating a two-sided network of 439 million active accounts across its branded checkout, Venmo, and unbranded processing businesses. These 2052 bonds are a longer-duration play on an established payments franchise and may appeal to those seeking duration exposure beyond the usual AA-rated names.

On July 15 2026, Stripe and private equity firm Advent International reportedly jointly proposed to acquire PayPal at US$60.50 per share (valuing the company at more than US$53 billion), with both parties set to hold an equal stake in the combined entity. The offer will be backed by around US$50 billion of committed bank financing. However, PayPal has yet to publicly respond to this acquisition. Right now, the key protection for bondholders is PayPal’s change of control event which requires the company to repurchase notes at 101% of principal but only if a change of control and a ratings downgrade to below investment grade were to occur. Since this remains an evolving situation, bond yields may see some volatility as the market prices in event risk pending PayPal's response and any rating agency commentary.

PayPal's 1Q2026 (ended March 2026) results showed steady growth, with a 7.2% YoY increase in net revenue to US$8.4 billion, though operating income slipped 2.7% YoY to US$1.5 billion. With the stepped-up investment spending, PayPal’s free cash flow also dipped slightly, both sequentially and YoY to US$903 million. Nonetheless, the balance sheet remains strong as PayPal held US$13.5 billion of cash, cash equivalents, and investments against US$11.6 billion of debt. Overall, PayPal offers a degree of downside protection for the duration risk taken, though the pending acquisition proposal introduces event risk worth monitoring closely.

3. Citigroup: C 6.020% 24Jan2036 Corp (USD) (Yield: 5.66%)
Citigroup is one of the largest US global banks, with leading franchises in transaction services, markets, banking, wealth, and US consumer cards. Its multi-year restructuring has simplified the bank around five core interconnected businesses. These 2036 bonds offer a higher-yielding entry point into a US money-centre bank.

For 1Q2026 which ended in March 2026, Citigroup's total revenue rose 14% YoY to US$24.6 billion with NII up 12% YoY to US$15.7 billion. Though its CET1 ratio stood at 12.7%, slightly lower than the 13.4% a year ago, it still sits clear of its regulatory requirement, holding roughly 110bps of headroom. Funding is supported by a large and growing deposit base of US$1.45 trillion (+10% YoY), diversified across institutional and consumer clients globally. With profitability strengthening and capital buffers intact, the C 6.020% 24Jan2036 Corp (USD) offers a yield to worst of 5.66%, a pickup of roughly 111bps over the 10-year UST (currently ~4.55%) - solid income within a tightly supervised US banking major.

4. Dell: DELL 5.250% 15Feb2037 Corp (USD) (Yield: 5.45%)
Dell Technologies is a global leader in IT infrastructure and PCs and has emerged as the leading provider of AI-optimised servers to enterprises and AI model builders. Its Infrastructure Solutions Group (servers, networking, and storage) now dominates group earnings, giving bondholders exposure to the AI infrastructure buildout through an established investment-grade hardware franchise.

Dell's 1Q2027 (ended May 2026) reported total net revenue up 88% YoY to a record US$43.8 billion, driven by growth across all core businesses. AI server demand also remains strong, with US$24.4 billion in AI server orders booked, US$16.1 billion of AI server revenue recognised, and a record AI backlog of US$51.3 billion. Management raised its FY2027 revenue outlook to a midpoint of US$167 billion, with AI server revenue now expected at US$60 billion. Cash generation remains healthy, with operating cash flow at a record of US$4.1 billion. Dell ended the quarter with US$11.6 billion of cash and equivalents against total debt of US$31.2 billion. Its core leverage stood at 1.2x, comfortably supporting its investment-grade ratings, even as it returned US$2.1 billion to shareholders in the quarter. We would note that AI servers carry structurally lower margins (gross margins compressed to 17.8% from 21.1%) and are more working-capital intensive. For investors seeking AI infrastructure exposure with balance-sheet discipline, Dell's 1.2x core leverage and record cash generation make these 2037 bonds worth considering.

5. Broadcom: AVGO 5.200% 15Jul2035 Corp (USD) (Yield: 5.29%)
Broadcom is a global semiconductor and infrastructure software leader, and one of the clearest beneficiaries of the AI capex cycle after NVIDIA – designing custom AI accelerators and AI networking chips for hyperscalers, alongside its VMware-anchored software business. These 2035 bonds allow investors to gain exposure to the AI buildout through a highly cash-generative issuer.

Broadcom's 2QFY26 (ended May 2026) was a record quarter. Total net revenue surged 48% YoY to US$22.2 billion, driven by AI semiconductor revenue of US$10.8 billion (+143% YoY). Management has guided for AI revenue to reach US$16 billion in 3QFY26. The group held US$19.6 billion of cash and cash equivalents (up from US$14.2 billion a quarter earlier) against total debt of US$64.9 billion – implying net debt of roughly US$45.3 billion and trailing twelve months (TTM) net debt-to-adjusted EBITDA of around 0.9x. Having taken on substantial debt for the VMware acquisition in 2023, its enormous cash generation has enabled rapid deleveraging while still funding dividends and buybacks. This pairing of structural AI growth and a sub-1x levered balance sheet makes these 2035 bonds a compelling pick for investment-grade AI exposure.

6. FIS: FIS 4.800% 10Mar2031 Corp (USD) (Yield: 5.07%)
Fidelity National Information Services (FIS) is one of the world's largest banking technology providers, supplying core processing, payments, and capital markets software to thousands of financial institutions – a highly recurring, mission-critical revenue base. FIS recently acquired Global Payments' Issuer Solutions business for US$13.5 billion while exiting its remaining Worldpay stake, sharpening its focus on financial institution technology.

FIS reported pro forma revenue of US$3.2 billion (+6.5% YoY) and adjusted EBITDA margins expanded from 37.8% to 39.6% (+87bps YoY) at the end of 1Q2026, which ended on 31 March 2026. Free cash flow (excluding cash transaction taxed on Worldpay sale) more than doubled YoY from US$224 million to US$474 million, with management targeting around US$2.1 billion for the full year. With a total debt of US$21.1 billion, leverage is elevated following the debt-funded Issuer Solutions acquisition (US$13.5 billion). However, management has paused share buybacks to prioritise deleveraging towards its 2.8x gross leverage target. With management prioritising debt paydown over buybacks, these 2031 bonds let investors earn a solid IG yield while the credit improves beneath them.

7. AusNet: ANVAU 6.4956% 04Feb2056 Corp (AUD) (Yield: 6.45%)
AusNet is Victoria's largest energy delivery business, owning and operating the state's electricity transmission network alongside electricity and gas distribution networks – natural monopoly assets regulated by the Australian Energy Regulator. Every five years, around 85% of group revenue is subjected to periodic price resets, providing highly predictable cash flows with minimal volume risk. However, as a private company (delisted from the ASX in 2022 following its acquisition vis a consortium led by Brookfield Asset Management), AusNet's disclosures are limited to semi-annual reporting as a debt issuer.

For FY2025 (ended December 2025), AusNet reported that revenue rose 9.5% YoY from A$1.4 billion to A$1.5 billion and EBITDA grew 18.2% to A$953 million, driven by regulated price paths and lower operating costs. Capital expenditure remained elevated at A$787 million (up 10.5% YoY) to support Victoria's energy transition, though this directly grows its regulated asset base, and future revenues. Its gearing (net debt-to-regulated and contracted asset base) improved from 79.0% to 77.2%, while liquidity remains sound with A$1.1 billion of undrawn committed bank facilities and A$42 million of cash and cash equivalents. These notes are structured as 30NC10, meaning they are only callable from year 10, and typically at each subsequent reset date rather than on every coupon date. And because rating agencies reclassify the notes from 50% debt 50% equity credit to 100% debt from the first call date onward, AusNet has a clear economic incentive to call at the first opportunity – making the extension to the full 30-year maturity unlikely in practice. For investors comfortable with the subordinated structure, these notes offer 6%+ AUD yields backed by regulated monopoly cash flows - compensation for structure, not business risk.

8. Woolworths: WOWAU 5.910% 29Nov2034 Corp (AUD) (Yield: 5.96%)
Woolworths is Australia's largest supermarket operator, with a defensive business model anchored by food and everyday essentials across its Australian Food, New Zealand Food, and B2B segments. These 2034 bonds offer AUD exposure to a leading defensive retailer with yields near 6%.

Woolworths' H1FY26, which ended on 4 January 2026, showed group sales up 3.4% YoY, from A$35.9 billion to A$37.1 billion. NPAT before significant items rose 16.4% YoY to A$859 million, though reported NPAT fell 49.4% after a one-off A$710 million remediation provision. Its credit profile remains steady as operating cash flows grew 18.3% YoY to A$2.3 billion with a healthy cash realisation ratio of 95%, while its TTM net debt-to-EBITDA improved slightly from 2.8x to 2.7x. The group successfully completed A$1.2 billion of bank debt financing to extend tenor and mitigate refinancing risk. This supports Woolworths' solid investment-grade credit ratings (BBB stable / Baa2 stable), leaving the Group with no debt capital market maturities until November 2027.

9. Rothesay Life: ROTHLF 7.019% 10Dec2034 Corp (GBP) (Yield: 6.18%)
Securing the pensions of around one million people, Rothesay is the UK's largest pensions insurance specialist. Ownership is held by GIC (50.2%) and MassMutual (47.6%), both committed to provide primary capital for material growth. As a private company, disclosures are limited to semi-annual reporting and are less detailed than listed peers. In FY2025, ended December 2025, adjusted operating profits fell to £1.1 billion (FY2024: £1.8 billion), primarily reflecting weaker new business premiums. Solvency II surplus stood at £5.4 billion, translating to a solvency capital requirement (SCR) coverage ratio of 246% – well above the 100% regulatory threshold. Leverage is modest, with total borrowings of £2.7 billion (around 30% of eligible own funds), while liquidity is comfortable at around £1 billion (£277 million of cash and £750 million undrawn committed revolving credit facility). Importantly, the group’s operating cash flows of £477 million provides recurring support to the group's liquidity profile. These Tier 2 subordinated bonds suit investors seeking strong underlying solvency from the UK’s leading pension insurer.

Read more: https://secure.fundsupermart.com/fsmone/article/rcms374080/idea-of-the-week-attractive-5-to-7-gbp-usd-bonds-offered-by-rothesay-g

10. IBM: IBM 4.875% 06Feb2038 Corp (GBP) (Yield: 6.13%)
IBM is a global enterprise tech leader anchoring the world’s critical digital infrastructure through its hybrid cloud and artificial intelligence solutions. Its deeply entrenched presence across both core software platforms and large-scale IT consulting allows it to secure sticky, recurring revenue across the corporate modernisation cycle. IBM’s bonds appeal to those seeking GBP exposure to a US blue-chip issuer.

Preliminary 2Q2026 results reported a revenue of US$17.2 billion, a slight increase of 1% YoY with software growth failing to offset infrastructure weakness — software revenue rose 5%, while consulting was flat (up 1% constant currency), and infrastructure revenue fell 7%. Net cash from operating activities jumped 27.9% YoY to US$2.8 billion while free cash flow remained at US$1.7 billion, YoY. As of end-1Q2026, IBM held US$11.8 billion of cash, cash equivalents, and marketable securities against total debt of US$69.8 billion (include operating lease liabilities). Its net debt-to-adjusted EBITDA remained stable at 2.93x on a TTM basis (1Q2025: 2.94x), as EBITDA growth kept pace with the higher debt load. With stable leverage, growing free cash flow and most importantly, recurring software base, these 2038 bonds offer investors dependable GBP income from a US blue-chip.

11. Alphabet: GOOGL 5.500% 13Nov2041 Corp (GBP) (Yield: 6.10%)
Alphabet, the parent of Google, saw its consolidated revenue for 1Q2026 (ended March 2026) rise 21.8% YoY (19% YoY on constant currency), to U$109.9 billion - an 11th consecutive quarter of double-digit growth. Operating income grew 29.7% YoY, from US$30.6 billion to US$39.7 billion, and operating margin expanded by 2 percentage points to 36.1%. As of end-1Q2026, Alphabet held US$126.8 billion of cash, cash equivalents, and marketable securities against US$90.5 billion of total debt (including lease liabilities). TTM free cash flow dipped 14% YoY to US$64.4 billion, as AI capital expenditure (2026 guidance of US$180 billion to US$190 billion) temporarily weighs on cash generation. However, this is not a red flag, given the investment is already driving accelerating revenue and margin growth (evidenced by Cloud's expanding backlog and 1Q2026's topline gains). The GOOGL 5.500% 13Nov2041 Corp (GBP) offers a yield to worst of roughly 6.10%, with 15.1 years to call a longer-duration play for dependable GBP income from a high-quality company.

12. Barclays: BACR 6.174% 29Jul2036 Corp (GBP) (Yield: 5.90%)
Barclays PLC (Barclays), a premier British bank with a strong global footprint across retail and corporate banking delivered record quarterly group income of £8.2 billion (+6% YoY) in 1Q2026, ended March 2026. Income growth was backed by 6% increase in both net interest income (NII) and net fee, commission and other income. Operating expense grew slower than income (+4% vs +6%), lifting profit after tax 4% to £2.2 billion, with return on tangible equity at 13.5%. The headline loan-loss rate of 74bps was inflated by a one-off £228 million single-name charge - excluding it, the rate remains within management's 50-60bps guidance range. Its CET1 ratio of 13.9% (post buyback) provides around 170bps of headroom over its 12.2% requirement, with a liquidity coverage ratio of 165.4% and net stable funding ratio of 135.4%, both comfortably above regulatory requirements. The BACR 6.174% 29Jul2036 Corp (GBP) offers a yield to worst of roughly 5.90%, with 5.04 years to call. These 2036 Tier 2 subordinated bonds are a dependable income pick for investors seeking decent income on a slightly longer timeframe.

Read more: https://secure.fundsupermart.com/fsmone/article/rcms370080/barclays-1q26-steady-as-she-goes-resilient-beneath-the-noise

Disclosure: For specific disclosure, at the time of publication of this report, IFPL (via its connected and associated entities) holds a position in PYPL 5.050% 01Jun2052 Corp (USD), DELL 5.250% 15Feb2037 Corp (USD),  AVGO 5.200% 15Jul2035 Corp (USD), ANVAU 6.4956% 04Feb2056 Corp (AUD), WOWAU 5.910% 29Nov2034 Corp (AUD), ROTHLF 7.019% 10Dec2034 Corp (GBP), IBM 4.875% 06Feb2038 Corp (GBP), GOOGL 5.500% 13Nov2041 Corp (GBP), and BACR 6.174% 29Jul2036 Corp (GBP). The analyst who produced this report holds a NIL position in the abovementioned securities. This research report was prepared with the assistance of artificial intelligence (AI) tools. iFAST Financial Pte Ltd does not rely exclusively on AI for content generation; the content of this report – including all investment theses, ratings, price targets and conclusions – has been independently reviewed and verified by the research analyst(s) to ensure accuracy and professional integrity.