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In the comments section of my recent article, "Earn More Than 6% With These 4 Bonds," I was asked to offer ideas of bonds with decent yields and shorter terms to maturity. I ran a bond screen searching for corporate bonds with less than 10 years to maturity, yields of at least 4%, and at least one rating from Moody's or S&P that was Ba3/BB- or higher. The screen returned hundreds of bonds currently being offered on the secondary market.

Nowadays, one of the challenges of searching for individual bonds that have shorter terms to maturity, decent yields, and are worth investing in is that many of them are trading well over par. In fact, many are trading so far over par that even if I like the credit risk, given the call features, I'm less inclined to consider them as investments. While looking through the list of several hundred bonds returned by the screen, seven bonds in particular caught my attention. They each happen to be from recognizable companies and are either trading at a discount to par or are trading close enough to par that despite the call features (or lack thereof), the yields still make sense. Of course, just because a company has name recognition does not mean it is a good credit risk. Please don't forget to do your own due diligence on each of the companies with bonds detailed below.

The seven bonds that follow have maturities ranging from roughly three-and-a-half to ten years from now and yields between 4% and 8%. Keep in mind that in a zero interest rate environment, much higher yields on bonds with just a few years to maturity indicates a level of risk of which investors should take note. I'd also like to mention that for the purposes of my personal portfolio, I've looked at each of these seven companies at one time or another and have purchased bonds in just four of them (see disclosure below).

In no particular order, here they are:

Tyson Foods' (TSN) senior unsecured guaranteed note (CUSIP: 902494AT0) maturing 6/15/2022 has a 4.50% coupon and is asking 99.226 cents on the dollar (4.598% yield-to-maturity before commissions). It has a make whole call and pays interest semi-annually. Moody's currently rates the note Baa3; S&P rates it BBB-.

United States Steel Corp.'s (X) senior unsecured note (CUSIP: 912909AC2) maturing 6/1/2017 has a 6.05% coupon and is asking 100.949 cents on the dollar (5.817% yield-to-maturity before commissions). It has a make whole call and pays interest semi-annually. Moody's currently rates the note B1; S&P rates it BB.

Avon Products' (AVP) senior unsecured note (CUSIP: 054303AR3) maturing 7/15/2018 has a 4.20% coupon and is asking 98.129 cents on the dollar (4.564% yield-to-maturity before commissions). It has a make whole call and pays interest semi-annually. Moody's currently rates the note Baa1; S&P rates it BBB-.

Peabody Energy's (BTU) senior unsecured note (CUSIP: 704549AH7) maturing 9/15/2020 has a 6.50% coupon and is asking 103.625 cents on the dollar (5.927% yield-to-maturity before commissions). It has a make whole call and pays interest semi-annually. Moody's currently rates the note Ba1; S&P rates it BB+.

Morgan Stanley's (MS) senior unsecured note (CUSIP: 61747YDT9) maturing 3/22/2017 has a 4.75% coupon and is asking 102.09 cents on the dollar (4.243% yield-to-maturity before commissions). It is non-callable and pays interest semi-annually. Moody's currently rates the note Baa1; S&P rates it A-.

J.C. Penney Company's (JCP) senior unsecured note (CUSIP: 708130AB5) maturing 2/15/2018 has a 5.75% coupon and is asking 90.495 cents on the dollar (7.92% yield-to-maturity before commissions). It is non-callable and pays interest semi-annually. Moody's currently rates the note Ba3; S&P rates it B+.

Best Buy's (BBY) senior unsecured note (CUSIP: 086516AK7) maturing 3/15/2016 has a 3.75% coupon and is asking 95.72 cents on the dollar (5.076% yield-to-maturity before commissions). It has a make whole call and pays interest semi-annually. Moody's currently rates the note Baa2; S&P rates it BB+.

Given the rumors swirling around about a potential takeover of Best Buy, I should mention that this bond has a conditional put for a change of control. The put price is 101. Regarding the conditional put, in order to have a "Change of Control Triggering Event" occur, not only must a change of control occur, as defined in the indenture, but there also must be a "rating event." Read below to see how "rating event" is defined by the "First Supplemental Indenture," dated March 11, 2011. It will be important to keep this definition in mind if you decide to purchase this note thinking you might someday be able to put it back to the company at 101.

"'Rating Event' means the rating on the Notes is lowered independently by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day during the period commencing on the earlier of the date of the first public notice of the occurrence of a Change of Control or the Company153s intention to effect a Change of Control and ending 60 days following consummation of such Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies)."

Please be aware that prices in the over-the-counter U.S. bond market may vary depending on the broker you use. I discuss this in my article, "Are You Paying Too Much For Your Bonds?" The current prices may also differ greatly from those listed at the time this article was written. For more information on any of these notes, including additional call or put features, 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: Take A Look At These 4% To 8% Yielders

Additional disclosure: I am also long Tyson Foods' CUSIP 902494AT0, Peabody Energy's CUSIP 704549AH7, and other U.S. Steel and Best Buy bonds not mentioned in this article.