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During the final days of November, several new issue corporate bonds of varying maturities were offered by well-known companies. What follows is a look at some of the longer-dated recently issued corporates with coupons ranging from 3.75% to 7.35%. These bonds are hot off the press and may need some time before the secondary market in these issues becomes more liquid. You will therefore notice that not all these bonds had offer prices in the secondary market at the time this article was written.

If you are interested in purchasing any bond without a current secondary market offer price, keep it on your shopping list for a future opportunity. Also, keep in mind that corporate bonds trading in the secondary market have huge disparities in terms of liquidity. It would therefore be judicious of a retail investor to purchase the more illiquid corporates with the intention of holding the notes to maturity.

The Walt Disney Company’s (NYSE:DIS) senior unsecured note (CUSIP: 25468PCR5) maturing 12/1/2041 has a coupon of 4.125% and is asking 99.827 cents on the dollar (4.135% yield-to-maturity before commissions). It pays interest semi-annually and has a make whole call. For additional conditional call features, please contact your broker or read the indenture. Moody’s currently rates the bond A2; S&P rates it A. The note was originally offered at a price of 98.829, and the offer size was $600 million. The offer date was November 29, 2011.

Transocean’s (NYSE:RIG) senior unsecured note (CUSIP: 893830AZ2) maturing 12/15/2041 has a coupon of 7.35%. It pays interest semi-annually and has a make whole call. Moody’s currently rates the bond Baa3; S&P rates it BBB-. The note was originally offered at a price of 99.996, and the offer size was $300 million. The offer date was November 30, 2011.

Transocean’s (RIG) senior unsecured note (CUSIP: 893830BB4) maturing 12/15/2021 has a coupon of 6.375% and is asking 104.916 cents on the dollar (5.723% yield-to-maturity before commissions). It pays interest semi-annually and has a make whole call. Moody’s currently rates the bond Baa3; S&P rates it BBB-. The note was originally offered at a price of 99.946, and the offer size was $1.2 billion. The offer date was November 30, 2011.

Safeway’s (NYSE:SWY) senior unsecured note (CUSIP: 786514BU2) maturing 12/1/2021 has a coupon of 4.75% and is asking 101.879 cents on the dollar (4.514% yield-to-maturity before commissions). It pays interest semi-annually and has a make whole call. Moody’s currently rates the bond Baa2. The note was originally offered at a price of 99.749, and the offer size was $400 million. The offer date was November 30, 2011.

Raytheon’s (NYSE:RTN) senior unsecured note (CUSIP: 755111BW0) maturing 12/15/2041 has a coupon of 4.70%. It pays interest semi-annually, has a make whole call, and is callable at par on or after 6/15/2041. Moody’s currently rates the bond A3; S&P rates it A-. The note was originally offered at a price of 99.52, and the offer size was $425 million. The offer date was November 29, 2011.

Pacific Gas & Electric’s (NYSE:PCG) senior unsecured note (CUSIP: 694308GY7) maturing 12/15/2041 has a coupon of 4.50%. It pays interest semi-annually, has a make whole call until 6/15/2041, and is then callable at par. Moody’s currently rates the bond A3; S&P rates it BBB+. The note was originally offered at a price of 99.655, and the offer size was $250 million. The offer date was November 28, 2011.

National Fuel Gas Company’s (NYSE:NFG) senior unsecured note (CUSIP: 636180BK6) maturing 12/1/2021 has a coupon of 4.90%. It pays interest semi-annually and is continuously callable beginning 9/1/2021 at the greater of 100 or make whole. Moody’s currently rates the bond Baa1. The note was originally offered at a price of 99.867, and the offer size was $500 million. The offer date was November 28, 2011.

Johnson Controls’ (NYSE:JCI) senior unsecured note (CUSIP: 478366BB2) maturing 12/1/2041 has a coupon of 5.25%. It pays interest semi-annually, has a make whole call, and is then callable at par on or after 6/1/2041. Moody’s currently rates the bond Baa1; S&P rates it BBB+. The note was originally offered at a price of 99.925, and the offer size was $250 million. The offer date was November 29, 2011.

Johnson Controls’ (JCI) senior unsecured note (CUSIP: 478366BA4) maturing 12/1/2021 has a coupon of 3.75%. It pays interest semi-annually, has a make whole call, and is callable at par on or after 9/1/2021. Moody’s currently rates the bond Baa1; S&P rates it BBB+. The note was originally offered at a price of 99.316, and the offer size was $450 million. The offer date was November 29, 2011.

Canadian Pacific Railway (NYSE:CP) senior unsecured note (CUSIP: 13645RAP9) maturing 1/15/2022 has a coupon of 4.50%. It pays interest semi-annually and has a make whole call. Moody’s currently rates the bond Baa3; S&P rates it BBB-. The note was originally offered at a price of 98.151, and the offer size was $250 million. The offer date was November 28, 2011.

Canadian Pacific Railway (CP) senior unsecured note (CUSIP: 13645RAQ7) maturing 1/15/2042 has a coupon of 5.75%. It pays interest semi-annually and has a make whole call. Moody’s currently rates the bond Baa3; S&P rates it BBB-. The note was originally offered at a price of 97.584, and the offer size was $250 million. The offer date was November 28, 2011.

If you are interested in purchasing any of these securities but are nervous about counterparty risk wreaking havoc on your portfolio, learn how to hedge individual bonds in, “Protect Your Income Portfolio With Cross-Asset Hedging.”

Please be aware that prices in the over-the-counter U.S. bond market may vary depending on the broker you use. The current prices may also differ greatly from those listed at the time this article was written. For additional call features on any of these notes, please contact your broker or read the indenture.

Also, please do your own due diligence on the financial profiles of the companies mentioned in this article. Only you can determine if taking the counterparty risk of purchasing individual bonds is suitable for you.

Source: 11 Long-Term Corporates Hot Off The Press