State Street Global Advisors recently introduced a new long bond ETF.  The SPDR Barclays Capital Long Term Credit Bond ETF (LWC) tracks an index of long term (10+ years) investment grade bonds.

The Index includes investment grade corporate and non-corporate credit bonds that are dollar denominated and have a remaining maturity of greater than or equal to 10 years.

As of December 31, 2008, the Index included 965 issues with an average dollar-weighted maturity of 24.39 years.

Top holdings include Appalachian Power, British Telecom and Pacific Gas & Electric.

See the ETF Directory for a complete listing of State Street ETFs.