/raid1/www/Hosts/bankrupt/TCREUR_Public/170102.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
E U R O P E
Monday, January 2, 2017, Vol. 18, No. 001
Headlines
B E L G I U M
DEXIA SA: Egan-Jones Withdraws BB+ Sr. Unsecured Ratings
C Y P R U S
BROKERCREDITSERVICE: S&P Assigns 'B/B' Counterparty Ratings
F I N L A N D
NORDIC PACKAGING: S&P Assigns 'B' CCR, Outlook Stable
G R E E C E
GREECE: FinMin Letter to Creditors on Bailout Leaked to Press
I R E L A N D
ALLIED IRISH: Egan-Jones Withdraws BB- LC Sr. Unsecured Ratings
CADOGAN SQUARE VIII: Moody's Rates EUR12.6MM Class F Notes B2(sf)
I T A L Y
BANCA CARIGE: Moody's Assigns B3 Deposits Rating to Bonds
DIAPHORA1 FUND: February 15 Bid Submission Deadline Set
MONTE DEI PASCHI: Plans to Issue EUR15-Bil. Debt This Year
K A Z A K H S T A N
TENGRI BANK: S&P Affirms 'B+/B' Counterparty Credit Ratings
L U X E M B O U R G
BRAAS MONIER: S&P Puts 'BB-/B' CCRs on CreditWatch Positive
INTELSAT LUXEMBOURG: S&P Lowers Ratings on Senior Notes to 'D'
N E T H E R L A N D S
CLONDALKIN INDUSTRIES: S&P Puts 'B' CCR on CreditWatch Developing
IHS NETHERLANDS: S&P Assigns 'B+' CCR & Rates $800MM Bonds 'B+'
P O R T U G A L
BANCO ESPIRITO: Egan-Jones Withdraws D Sr. Unsecured Debt Ratings
R U S S I A
PERESVET BANK: S&P Cuts Rating on Bonds to 'D' Following Default
S P A I N
UFINET TELECOM: S&P Affirms 'B' CCR After Debt Increase
S W E D E N
STENA AB: Egan-Jones Withdraws 'B' Sr. Unsecured Debt Ratings
U K R A I N E
BANK TRUST: Deposit Fund Revokes License, Starts Liquidation
KSG BANK: SBU Raids Offices in UAH386MM Embezzlement Probe
U N I T E D K I N G D O M
REDTOP ACQUISITIONS: S&P Affirms 'B' CCR; Outlook Stable
TRAVELEX HOLDINGS: S&P Affirms 'B-' CCR & Revises Outlook to Neg.
X X X X X X X X
* BOND PRICING: For the Week December 26 to December 30, 2016
*********
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B E L G I U M
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DEXIA SA: Egan-Jones Withdraws BB+ Sr. Unsecured Ratings
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Egan-Jones Ratings, on Dec. 28, 2016, withdrew the BB+ senior
unsecured ratings on debt issued by Dexia SA.
Based in Brussels, Belgium, Dexia SA is a financial services
holding company. The Company, through its subsidiaries, offers
consumer loans, life and non-life insurance, pension plans,
securities brokerage services, asset management, private banking,
and financing of public service facilities and financial services
for local governments. Dexia operates in Europe, Asia, and the
United States.
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C Y P R U S
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BROKERCREDITSERVICE: S&P Assigns 'B/B' Counterparty Ratings
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S&P Global Ratings assigned its 'B/B' long- and short-term foreign
and local currency counterparty credit ratings to Cyprus-based
BrokerCreditService Structured Products PLC (BCS Structured
Products). The outlook is positive.
S&P considers BCS Structured Products to be a core subsidiary of
FG BCS Ltd., the holding company of the FG BCS group, a large
Russia-related securities company with primary operating entities
in Russia, Cyprus, and the U.K. S&P consequently equalizes its
ratings on BCS Structured Products with our assessment of the
group credit profile for the FG BCS group.
BCS Structured Products is a Cyprus-registered, unregulated
subsidiary of FG BCS Ltd., and the FG BCS group uses it as a
booking entity for structured products. Formerly named Gawling
Company Ltd., BCS Structured Products started specializing in
structures products in 2014. With EUR806 million in assets as of
June 30, 2016, it currently has one of the largest operational
balance sheets within FG BCS Ltd.
Currently, BCS Structured Products deals predominantly in
leveraged first-to-default notes and equity-linked notes
(predominantly with exotic options introduced to the client),
mirroring underlying assets on the balance sheet and hedging with
derivatives. S&P understands that the group aims to shift BCS
Structured Products' focus to low-leverage equity participation
notes sold via partner distribution channels to high-net-worth
individuals. The company lists around 10% of its products with
the Moscow and Ireland stock exchanges, and aims to increase the
share of listed instruments to 30% in 2019. S&P believes that the
key risk the company currently faces is model risk, because
liabilities are essentially matched with assets and the liquidity
of underlying assets is generally high.
S&P understands that BCS Structured Products is a booking entity
rather than a full-scale subsidiary. Its capitalization is
commensurate with that of the group, with S&P's risk-adjusted
capital (RAC) ratio (S&P Global Ratings' measure of capital
adequacy) at year-end 2015 at about 12.2% for BCS Structured
Products, versus 10.8% for the group. S&P expects these ratios
will remain similar in the next few years. The company represents
around 27% of the group's total adjusted capital, and its business
line represents about 30% of the group's retail revenues and
approximately 15% total group revenues.
The positive outlook on BCS Structured Products mirrors S&P's view
of the group credit profile and reflects S&P's opinion of
stabilization of the group's funding profile, with increased
reliance on stable funding sources.
S&P may take a positive rating action on BCS Structured Products
in the next 12-18 months if S&P sees that the group's reliance on
stable funding is sustainable in the long run. Moreover, if S&P
sees further consistent improvement in profitability, supported by
strong capitalization with a RAC ratio above 10%, S&P may upgrade
the company. If these factors occur, the possible ensuing upgrade
would likely be linked to improvement of operational conditions in
Russia, including the introduction of a more robust and credible
regulatory regime.
S&P may take a negative rating action on BCS Structured Products
if S&P sees that the group's capitalization is insufficient to
absorb potential losses, with the adjusted RAC ratio for the group
declining to less than 5%, possibly resulting from an increased
proprietary risk appetite or heightened risks in Russia or other
countries. Diminished market confidence in the group or the
creation of barriers for liquidity transfers between group
entities may also prompt a negative rating action.
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F I N L A N D
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NORDIC PACKAGING: S&P Assigns 'B' CCR, Outlook Stable
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S&P Global Ratings said it has assigned its 'B' long-term
corporate credit rating to Finland-based Nordic Packaging And
Container (Finland) Holdings Oy (the issuer) and to the parent of
the consolidated group, Nordic Packaging And Container (UK)
Intermediate Holdings Ltd. (NPCH). The outlook on both of these
entities is stable.
At the same time, S&P assigned its 'B' issue-level rating and '3'
recovery rating to the issuer's secured first-lien bank facility
and S&P's 'CCC+' issue-level rating and '6' recovery rating to its
secured second-lien bank facility. The '3' recovery rating
indicates S&P's expectation for meaningful recovery (50%-70%;
lower end of the range) for lenders in the event of a payment
default, while the '6' recovery rating indicates S&P's expectation
for negligible recovery (0%-10%) in the event of a payment
default.
The final ratings are in line with the preliminary ratings that
S&P assigned on Oct. 25, 2016, following the successful closing of
the acquisition in line with S&P's assumptions.
Nordic Packaging And Container (Finland) Holdings Oy is the
acquisition entity for Powerflute, acquired by funds affiliated
with financial sponsor Madison Dearborn Partners Group.
Powerflute is a paper and packaging company that operates in the
paper and packaging market and coreboard markets through the
holdings of its parent, NPCH. Annual sales for the consolidated
group were about EUR360 million in 2015. The company's packaging
paper segment (40% of sales, 52% of EBITDA), trading under the
Powerflute brand, is one of the only three producers of premium-
grade Nordic semi-chemical fluting, manufactured from birch wood
and used in the manufacture of corrugated board for food and
agricultural products and other end markets that require high
strength and moisture resistance. The company's coreboard and
cores business (60% of sales, 48% of EBITDA), trading under the
name Corenso, is a manufacturer of high performance coreboard and
cores used for paper, textiles, metals, foils and films, and tapes
and labels. Coreboard, manufactured primarily from recycled
paper, is ultimately converted into cores or used for other
packaging applications.
Although the company has a niche market position in the highly
consolidated Nordic semi-chemical fluting market and retains a
good degree of geographical and end-market diversity, its overall
scale and scope is limited compared to its peers. It has high
asset and customer concentration, with a single paper mill in
Finland for its packaging paper business, and limited pricing
power. The coreboard and cores operations are a bit more
diversified but the market is somewhat more fragmented, especially
in Europe.
Significant initial plant investments restrict new entrants in the
packaging paper business, whereas the coreboard and cores segment
is more competitive and commoditized in nature. Powerflute
maintains longstanding customer relationships with its blue-chip
paper and packaging companies for both its businesses, deriving
almost 30% of its sales from the top 10 customers. Customer
concentration and a fragmented market structure provide customers
with strong bargaining power, especially in the coreboard
business, but the semi-chemical fluting business manages to gain
some pricing differential given its premium product offering.
Powerflute manages its birch supply from its captive wood sourcing
subsidiary Harvestia, which indirectly manages forest harvests in
Finland, although the group does not benefit from any direct or
indirect ownership of the wood. In addition, although the company
is vertically integrated into coreboard production and core
converting, it externally sources recycled-content product, one of
the key raw material inputs used in coreboard production, leading
the company to be fully exposed to volatile input costs.
S&P's view of NPCH's highly leveraged financial risk profile
reflects its high adjusted leverage of around 5x debt to EBITDA
and funds from operations (FFO) to debt of about 12% at
transaction close. S&P's base case does not anticipate any
significant deleveraging. S&P forecasts steady earnings growth
over the next 12 months but nevertheless expect credit metrics to
remain in the highly leveraged range, albeit at the stronger end.
S&P anticipates that the company will continue to generate
moderate free cash flow and maintain adequate liquidity while
balancing its growth objectives.
In S&P's base case, it assumes:
-- Organic sales that are broadly flat for the next two years
with some pricing pressure in packaging papers and a
challenging macroeconomic environment;
-- An adjusted EBITDA margin of about 15.5%;
-- Capital expenditures (capex) of about EUR12 million to
EUR15 million annually; and
-- No acquisitions and dividends forecast.
Based on these assumptions, S&P arrives at these credit measures:
-- S&P Global Ratings-adjusted debt to EBITDA of around 5x for
2016, with the potential for some gradual improvement
thereafter; and
-- FFO to adjusted debt of about 12% over the next 12-18
months.
The stable outlook on NPCH reflects S&P's expectation that the
company will experience fairly predictable business conditions and
generate stable cash flow over the next 12 months, based on its
strong customer relationships and stable end markets. S&P expects
NPCH to maintain adjusted debt to EBITDA of about 5x and FFO to
debt of about 12% over the next 12 months.
S&P could raise the ratings if the company showed a higher-than-
expected improvement in profitability, leading to stronger credit
metrics in line with levels S&P views as commensurate with an
aggressive financial risk profile over a sustained period.
Specifically, this would include a ratio of adjusted FFO to debt
of more than 15% and debt to EBITDA of less than 4.5x, on a
sustained basis, supported by the private equity owners committing
to a financial policy commensurate with these metrics.
S&P could lower the ratings if the company's liquidity position
deteriorates or if earnings and cash flow decline unexpectedly
because of weaker demand for its products. S&P could also lower
the ratings if financial policy decisions weaken its financial
profile or cause financial metrics to deviate from S&P's
expectations.
A downgrade could also stem from a significant shortfall in
operating performance compared with S&P's base case. This could
occur as a result of loss of key customers, prolonged plant
closures, or challenging macroeconomic conditions, such that
earnings and cash flow generation lead to weaker liquidity or FFO
cash interest coverage falling below 1.5x.
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G R E E C E
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GREECE: FinMin Letter to Creditors on Bailout Leaked to Press
-------------------------------------------------------------
Philip Chrysopoulos at Greek Reporter reports that a letter from
Greek Finance Minister Euclid Tsakalotos to creditors reaffirming
Athens' commitment to the bailout program obligations has been
leaked to the press.
Greece's lenders had asked from Mr. Tsakalotos to send a letter of
commitment to reassure that the Greek government will not proceed
with any kind of fiscal measures without consulting with them
first, Greek Reporter relates. The issue is the result of the
Greek government's unilateral decision to give a Christmas bonus
to low-income pensioners and suspend for one year VAT increase for
certain Aegean islands, Greek Reporter notes.
According to Greek Reporter, the Greek government's move annoyed
creditors to the point that they temporarily froze debt relief
measures that were decided in the December 5 meeting of euro zone
finance ministers.
Athens had asked creditors for clarifications regarding the
content of the letter, Greek Reporter relays. The letter became a
controversial issue as the government refused to publicize its
content, Greek Reporter says. Opposition parties accused the
SYRIZA-ANEL coalition for avoiding publication of the letter's
content because it might include further binding measures, Greek
Reporter states.
The letter leaked to the press on Dec. 27, Greek Reporter
recounts.
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I R E L A N D
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ALLIED IRISH: Egan-Jones Withdraws BB- LC Sr. Unsecured Ratings
---------------------------------------------------------------
Egan-Jones Ratings, on Dec. 27, 2016, withdrew the BB- local
currency senior unsecured ratings on debt issued by Allied Irish
Banks PLC. EJR also withdrew the B commercial paper ratings on
the Company.
Allied Irish Banks plc (AIB) attracts deposits and offers
commercial banking services. The Bank offers mortgage, automobile,
business, plant and equipment purchase, and lease financing loans,
investment banking, securities brokerage, asset management and
treasury services, and discounts invoices. AIB operates in
Ireland, the United Kingdom, and the United States.
CADOGAN SQUARE VIII: Moody's Rates EUR12.6MM Class F Notes B2(sf)
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Moody's assigns definitive ratings to eight classes of notes
issued by Cadogan Square CLO VIII D.A.C.:
EUR248,400,000 Class A-1 Senior Secured Floating Rate Notes due
2030, Definitive Rating Assigned Aaa (sf)
EUR23,000,000 Class A-2 Senior Secured Fixed Rate Notes due 2030,
Definitive Rating Assigned Aaa (sf)
EUR54,800,000 Class B-1 Senior Secured Floating Rate Notes due
2030, Definitive Rating Assigned Aa2 (sf)
EUR5,000,000 Class B-2 Senior Secured Fixed Rate Notes due 2030,
Definitive Rating Assigned Aa2 (sf)
EUR27,830,000 Class C Senior Secured Deferrable Floating Rate
Notes due 2030, Definitive Rating Assigned A2 (sf)
EUR21,020,000 Class D Senior Secured Deferrable Floating Rate
Notes due 2030, Definitive Rating Assigned Baa2 (sf)
EUR32,340,000 Class E Senior Secured Deferrable Floating Rate
Notes due 2030, Definitive Rating Assigned Ba2 (sf)
EUR12,650,000 Class F Senior Secured Deferrable Floating Rate
Notes due 2030, Definitive Rating Assigned B2 (sf)
RATINGS RATIONALE
Moody's definitive rating of the rated notes addresses the
expected loss posed to noteholders by the legal final maturity of
the notes in 2030. The definitive ratings reflect the risks due to
defaults on the underlying portfolio of loans given the
characteristics and eligibility criteria of the constituent
assets, the relevant portfolio tests and covenants as well as the
transaction's capital and legal structure. Furthermore, Moody's is
of the opinion that the collateral manager, Credit Suisse Asset
Management Limited ("CSAM"), has sufficient experience and
operational capacity and is capable of managing this CLO.
Cadogan Square CLO VIII D.A.C. is a managed cash flow CLO with a
target portfolio made up of EUR460,000,000 equivalent par value of
mainly European corporate leveraged loans. At least 96% of the
portfolio must consist of senior secured loans or senior secured
bonds, and up to 4% of the portfolio may consist of second-lien
loans, unsecured loans, mezzanine obligations and high yield
bonds. The portfolio may also consist of up to 12.5% of fixed rate
obligations and between 0% and 5% of principal hedged assets and
unhedged assets denominated in U.S. Dollars, Sterling, Swiss
Francs, Swedish Krona, Norwegian Krone or Danish Krone. The
portfolio is expected to be around 90% ramped up as of the closing
date and to be comprised predominantly of corporate loans to
obligors domiciled in Western Europe. The remainder of the
portfolio will be acquired during the six month ramp-up period in
compliance with the portfolio guidelines.
CSAM will manage the CLO. It will direct the selection,
acquisition and disposition of collateral on behalf of the Issuer
and may engage in trading activity, including discretionary
trading, during the transaction's four-year reinvestment period.
Thereafter, collateral purchases are permitted using principal
proceeds from unscheduled principal payments and proceeds from
sales of credit risk/improved obligations, and are subject to
certain restrictions.
In addition to the eight classes of notes rated by Moody's, the
Issuer issued EUR54.10m of subordinated notes, which will not be
rated.
The transaction incorporates interest and par coverage tests
which, if triggered, divert interest and principal proceeds to pay
down the notes in order of seniority.
Factors that would lead to an upgrade or downgrade of the ratings:
The rated notes' performance is subject to uncertainty. The notes'
performance is sensitive to the performance of the underlying
portfolio, which in turn depends on economic and credit conditions
that may change. CSAM's investment decisions and management of the
transaction will also affect the notes' performance.
Loss and Cash Flow Analysis:
Moody's modelled the transaction using its European Cash Flow
Model, a cash flow model based on the Binomial Expansion
Technique, as described in Section 2.3 of the "Moody's Global
Approach to Rating Collateralized Loan Obligations" rating
methodology published in October 2016. The cash flow model
evaluates all default scenarios that are then weighted considering
the probabilities of the binomial distribution assumed for the
portfolio default rate. In each default scenario, the
corresponding loss for each class of notes is calculated given the
incoming cash flows from the assets and the outgoing payments to
third parties and noteholders. Therefore, the expected loss or EL
for each tranche is the sum product of (i) the probability of
occurrence of each default scenario and (ii) the loss derived from
the cash flow model in each default scenario for each tranche. As
such, Moody's encompasses the assessment of stressed scenarios.
Moody's used the following base-case modelling assumptions:
Par amount: EUR460,000,000
Diversity Score: 44
Weighted Average Rating Factor (WARF): 2850
Weighted Average Spread (WAS): 4.2%
Weighted Average Coupon (WAC): 6.0%
Weighted Average Recovery Rate (WARR): 41%
Weighted Average Life (WAL): 8 years.
Stress Scenarios:
Together with the set of modelling assumptions above, Moody's
conducted additional sensitivity analysis, which was an important
component in determining the definitive rating assigned to the
rated notes. This sensitivity analysis includes increased default
probability relative to the base case. Below is a summary of the
impact of an increase in default probability (expressed in terms
of WARF level) on each of the rated notes (shown in terms of the
number of notch difference versus the current model output,
whereby a negative difference corresponds to higher expected
losses), holding all other factors equal:
Percentage Change in WARF: WARF + 15% (to 3278 from 2850)
Ratings Impact in Rating Notches:
Class A-1 Senior Secured Floating Rate Notes: 0
Class A-2 Senior Secured Fixed Rate Notes: 0
Class B-1 Senior Secured Floating Rate Notes: -1
Class B-2 Senior Secured Fixed Rate Notes: -1
Class C Senior Secured Deferrable Floating Rate Notes: -2
Class D Senior Secured Deferrable Floating Rate Notes: -2
Class E Senior Secured Deferrable Floating Rate Notes: -1
Class F Senior Secured Deferrable Floating Rate Notes: -2
Percentage Change in WARF: WARF +30% (to 3705 from 2850)
Ratings Impact in Rating Notches:
Class A-1 Senior Secured Floating Rate Notes: -1
Class A-2 Senior Secured Fixed Rate Notes: -1
Class B-1 Senior Secured Floating Rate Notes: -3
Class B-2 Senior Secured Fixed Rate Notes: -3
Class C Senior Secured Deferrable Floating Rate Notes: -4
Class D Senior Secured Deferrable Floating Rate Notes: -3
Class E Senior Secured Deferrable Floating Rate Notes: -2
Class F Senior Secured Deferrable Floating Rate Notes: -2
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I T A L Y
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BANCA CARIGE: Moody's Assigns B3 Deposits Rating to Bonds
---------------------------------------------------------
Moody's Investors Service has assigned a definitive A3 long-term
rating to the mortgage covered bonds issued by Banca Carige S.p.A
("Carige" the issuer, deposits B3; adjusted baseline credit
assessment caa3; counterparty risk (CR) assessment B3(cr)) which
are governed by the Italian Covered Bond law.
RATINGS RATIONALE
A covered bond benefits from (1) the issuer's promise to pay
interest and principal on the bonds; and (2) following a CB anchor
event, the economic benefit of a collateral pool (the cover pool).
The ratings therefore reflect the following factors:
(1) The credit strength of Carige (deposits B3; adjusted baseline
credit assessment caa3; CR assessment B3(cr)) and a CB anchor of
CR assessment plus 1 notch.
(2) Following a CB anchor event the value of the cover pool. The
stressed level of losses on the cover pool assets following a CB
anchor event (cover pool losses) for this transaction is 15.3%.
Moody's considered the following factors in its analysis of the
cover pool's value:
a) The credit quality of the assets backing the covered bonds. The
mortgage covered bonds are backed by Italian residential mortgage
loans. The collateral score for the cover pool is 7.5%.
b) The legal framework/structure of the programme. In particular,
the conditional pass-through nature significantly reduces the
covered bonds' default probability in case the issuer ceases to
make payments to covered bond holders.
c) The exposure to market risk, which is 10.3% for this cover
pool.
d) The over-collateralisation (OC) in the cover pool is 45%, of
which Carige provides 20.5% on a "committed" basis (see Key Rating
Assumptions/Factors, below).
The Timely Payment Indicator (TPI) assigned to this transaction is
"Very High". Moody's TPI framework does constrain the rating at
its current level.
At present, the total value of the assets included in the cover
pool is approximately EUR 137.7 million, comprising only
residential mortgage loans. The residential mortgage loans have a
weighted-average (WA) seasoning of 46 months and a WA loan-to-
value (LTV) ratio of 52%.
The rating that Moody's has assigned addresses the expected loss
posed to investors. Moody's ratings address only the credit risks
associated with the transaction. Moody's did not address other
non-credit risks, but these may have a significant effect on yield
to investors.
KEY RATING ASSUMPTIONS/FACTORS
Moody's determines covered bond ratings using a two-step process:
an expected loss analysis and a TPI framework analysis.
EXPECTED LOSS: Moody's uses its Covered Bond Model (COBOL) to
determine a rating based on the expected loss on the bond. COBOL
determines expected loss as (1) a function of the probability that
the issuer will cease making payments under the covered bonds (a
CB anchor event); and (2) the stressed losses on the cover pool
assets following a CB anchor event.
The CB anchor for this programme is CR assessment plus 1 notch.
The CR assessment reflects an issuer's ability to avoid defaulting
on certain senior bank operating obligations and contractual
commitments, including covered bonds. Moody's may use a CB anchor
of CR assessment plus one notch in the European Union or otherwise
where an operational resolution regime is particularly likely to
ensure continuity of covered bond payments.
The cover pool losses for this programme are 15.3%. This is an
estimate of the losses Moody's currently models following a CB
anchor event. Moody's splits cover pool losses between market risk
of 10.3% and collateral risk of 5%. Market risk measures losses
stemming from refinancing risk and risks related to interest-rate
and currency mismatches (these losses may also include certain
legal risks). Collateral risk measures losses resulting directly
from cover pool assets' credit quality. Moody's derives collateral
risk from the collateral score, which for this programme is
currently 7.5%.
The over-collateralisation in the cover pool is 45%, of which
Carige provides 20.5% on a "committed" basis. The minimum OC level
consistent with the A3 rating is 9.5% (numbers in nominal value
terms). These numbers show that Moody's is not relying on
"uncommitted" OC in its expected loss analysis.
All numbers in this section are based on Moody's most recent
modelling based on data, as per 30 June 2016.
TPI FRAMEWORK: Moody's assigns a "timely payment indicator" (TPI),
which measures the likelihood of timely payments to covered
bondholders following a CB anchor event. The TPI framework limits
the covered bond rating to a certain number of notches above the
CB anchor.
Factors that would lead to an upgrade or downgrade of the rating:
The CB anchor is the main determinant of a covered bond
programme's rating robustness. A change in the level of the CB
anchor could lead to an upgrade or downgrade of the covered bonds.
The TPI Leeway measures the number of notches by which Moody's
might lower the CB anchor before the rating agency downgrades the
covered bonds because of TPI framework constraints.
The TPI assigned to this is Very High. The TPI Leeway for this
programme is limited, and thus any reduction of the CB anchor may
lead to a downgrade of the covered bonds.
A multiple-notch downgrade of the covered bonds might occur in
certain circumstances, such as (1) a country ceiling or sovereign
downgrade capping a covered bond rating or negatively affecting
the CB Anchor and the TPI; (2) a multiple-notch downgrade of the
CB Anchor; or (3) a material reduction of the value of the cover
pool.
DIAPHORA1 FUND: February 15 Bid Submission Deadline Set
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Diaphora1 Fund, in liquidation, pursuant to Art. 57 TUF, put up
for sale the following properties:
Lot 1: wellness and fitness center, approximately 2,100 square
meters, spread on two levels, above the ground, including
basement, located in Via Bedollo no. 110, Rome (Infernetto area),
listed in the Buildings Registry of the Municipality of Rome,
sheet 1118 - parcel 1271 - sub-section 503, Category D/6, income
EUR26,556.
Starting price EUR1,539,000, in addition to applicable tax
Lot 2: building plot, approximately 30,000 square meters, with
building area of 76,160 cubic meters, or approximately 23,800
cubic meters of residential surface area, located in Via delle
Cerquete, Rome (Lunghezza area), listed in the Land
Registry of the Municipality of Rome, sheet 666, parcels: 397,
wooded pasture, class 1, 04 ares, 80 centiares, A5 deduction,
farmland income EUR0.91; 398 arable land, class 3, 01 ares, 60
centiares, A5 deduction farmland EUR1.45, agricultural income
EUR0.62; 407, arable alnd, class 3, 03 hectares, 97 ares, 10
centiareas, A5 deduction, farmland income EUR359.31, agricultural
income EUR153.81;
Starting price EUR14,580,000, in addition to applicable tax
Interested parties have until 12:00 a.m. on February 15, 2017, to
submit their bids to the office of Notary Federico Basile in Viale
Liegi no. 1, Rome.
The sale will be conducted at 12:00 a.m. on February 16, 2017, at
the Notary's office.
Further information and sale procedures is available at
http://www.liquidagest.it
MONTE DEI PASCHI: Plans to Issue EUR15-Bil. Debt This Year
----------------------------------------------------------
RTE reports that Italy's Banca Monte dei Paschi di Siena, which is
being bailed out by the state, plans to issue EUR15 billion of
debt this year to restore liquidity and boost investor confidence.
According to RTE, the debt sales would be supported by government
guarantees which form part of a liquidity scheme for banks in
need, which the European Commission has agreed to extend for six
months.
Under EU state aid rules, banks with a capital shortfall cannot
benefit from general liquidity support schemes, meaning the
Commission takes decisions on a case-by-case basis, as it did for
Monte dei Paschi, RTE states.
Monte dei Paschi will issue the debt in the form of bonds and
commercial paper, RTE relays, citing daily La Repubblica. It said
that a third of that debt would have a short-term maturity date,
while the rest would mature in three years, RTE notes.
Banca Monte dei Paschi di Siena SpA -- http://www.mps.it/-- is an
Italy-based company engaged in the banking sector. It provides
traditional banking services, asset management and private
banking, including life insurance, pension funds and investment
trusts. In addition, it offers investment banking, including
project finance, merchant banking and financial advisory services.
The Company comprises more than 3,000 branches, and a structure of
channels of distribution. Banca Monte dei Paschi di Siena Group
has subsidiaries located throughout Italy, Europe, America, Asia
and North Africa. It has numerous subsidiaries, including Mps Sim
SpA, MPS Capital Services Banca per le Imprese SpA, MPS Banca
Personale SpA, Banca Toscana SpA, Monte Paschi Ireland Ltd. and
Banca MP Belgio SpA.
===================
K A Z A K H S T A N
===================
TENGRI BANK: S&P Affirms 'B+/B' Counterparty Credit Ratings
-----------------------------------------------------------
S&P Global Ratings affirmed its 'B+' long-term and 'B' short-term
counterparty credit ratings on Kazakhstan-based Tengri Bank. The
outlook remains negative.
At the same time, S&P affirmed its 'kzBBB-' Kazakhstan national
scale rating on the bank.
S&P has observed a change in the bank's balance sheet during 2016
as it pursues growth, aided by a diversification of its funding
base away from interbank deposits and shareholders' equity.
Overall, S&P believes these changes are neutral for the Tengri
Bank's credit profile. In particular, while this development
signals a further reduction in the bank's capitalization as it
moves toward a more leveraged business model, it also indicates
that Tengri Bank is in a positive transition to improving its
funding base. Additionally, S&P still factors one positive notch
into its ratings for the potential extraordinary support to come
from India-based Punjab National Bank (PNB), which owns 49% of
Tengri Bank's authorized capital.
Tengri Bank is small Kazakh bank, which since the end of 2015 is
in a strong growth phase under the control of long-term
shareholder PNB and its majority local owners. While the bank is
expanding, the management is focused mainly on improving the
bank's business and competitive positions, as well as the
formation of stable client and funding bases. Besides dilution of
capitalization, the aggressive growth strategy planned for the
next 12-18 months amid such an unsupportive economic backdrop
might put additional pressure on Tengri Bank's credit profile,
especially given that a large part of the loan portfolio has long
terms and debt bullet repayments at maturity. High exposure to
foreign currency lending adds further uncertainty to the
performance of the bank's unseasoned loans.
S&P revised down its assessment of the bank's capital and earnings
to strong from very strong owing to S&P's view that asset growth
will outpace shareholder capital injections. S&P's risk-adjusted
capital (RAC) ratio for the bank stood at 16.7% as of Oct. 31,
2016, and S&P expects it to decline through the next 12-18 months,
but to stabilize in the 10%-15% range, helped by increasing the
amount of authorized capital by approximately 35% in 2017. S&P's
base-case projection also assumes around 165% loan book growth in
2016 and 45% in 2017. Additionally, S&P expects that, over the
next 12-18 months, the bank's profitability growth will be
somewhat undermined by a weakening interest margin.
The reduced interest margin is the negative side of the reinforced
funding position that could bring the bank's funding base in line
with the system average. In particular, during 2016, the bank
managed to build its liabilities in terms of volumes as total
deposits increased approximately 3.4x. While the bank's deposit
base still remains concentrated, S&P believe, its overall
liability structure is developing in favor of greater stability:
-- During the first 10 months of 2016 the share of interbank
borrowings decreased to 15% of total liabilities from 48%,
and S&P don't expect it to be higher than 20% over the next
12-18 months. S&P considers the change as beneficial,
since S&P regards deposits as a less confidence-sensitive
funding source;
-- The share of term deposits increased to 87% of total
deposits as of Sept. 30, 2016, from 36% at the beginning of
the year; and
-- Deposits denominated in foreign currency decreased to 41%
of total customer accounts as of Nov. 1, 2016 (in line with
the sector average), compared with 80% at the beginning of
the year. The diminishing ratio makes it easier to manage
foreign currency risk and supports business stability in
S&P's view.
As a result of these factors, S&P revised its assessment of Tengri
Bank's stand-alone credit profile (SACP) to 'b-' from 'b' to
reflect the weakening in capitalization. Moreover, although S&P
has not yet revised its funding assessment from below average, S&P
expects an improvement in funding and add one notch of uplift from
the SACP to S&P's long-term rating on Tengri Bank to reflect S&P's
view that the bank is in a positive transition. Before S&P
revises the funding assessment upward (and remove the transition
notch), S&P wants to see that these changes are sustainable.
S&P continues to regard Tengri as a moderately strategic
subsidiary of PNB. This results in a one-notch uplift to the
issuer credit rating to account for possible future extraordinary
parental support. In the past year, governance changes, a
rebranding, and dilution of PNB's shareholding have led S&P to
review this group status. S&P's unchanged assessment assumes that
PNB would contribute to the anticipated capital injection in 2017
and remain a supportive and actively involved shareholder of
Tengri Bank, as well as that Tengri Bank's development will be
consistent with group-level aims to expand India-related business.
The negative outlook on Tengri Bank reflects S&P's expectation
that negative trends in the Kazakh economy and banking sector will
persist in 2017 and may put pressure on the bank's capital and
asset quality over the next 12-18 months.
S&P could lower its ratings over the next 12-18 months if the
economic slowdown and increased banking industry risks appear
likely to have an adverse effect on Tengri Bank's
creditworthiness. S&P could also lower the ratings if it sees
signs that the forecast RAC ratio will be lower than 10% over the
next 12-18 months. Lastly, a negative rating action could follow
if S&P sees reduced likelihood for parental support, for example
if it observes that PNB's participation is more restrained
participation in the management and supervision of Tengri Bank or
there is a dilution of its current stake in Tengri Bank.
S&P would consider revising the outlook on Tengri Bank to stable
over the next 12-18 months if S&P sees that the bank is able to
manage high growth on the back of adverse market conditions with a
very limited risk that the bank's RAC ratio would fall below 10%
over the next 12-18 months. A revision would also be supported by
further evidence that PNB will remain an active and committed
shareholder.
===================
L U X E M B O U R G
===================
BRAAS MONIER: S&P Puts 'BB-/B' CCRs on CreditWatch Positive
-----------------------------------------------------------
S&P Global Ratings said that it placed on CreditWatch with
positive implications its 'BB-/B' long- and short-term corporate
credit ratings on Luxembourg-based roofing products manufacturer
Braas Monier Building Group S.A.
At the same time, S&P placed its 'BB-' issue ratings on Braas
Monier's EUR200 million RCF and EUR435 million notes on
CreditWatch with positive implications. These facilities were
issued by Braas Monier Building Group Holding S.a r.l., and BMBG
Bond Finance S.C.A., respectively, both subsidiaries of Braas
Monier Building Group S.A.
The CreditWatch listing follows the announcement that Standard
Industries Inc. (BBB-/Watch Neg/--) plans to acquire Braas Monier.
If Standard Industries completes the proposed acquisition of Braas
Monier, there is a possibility that S&P could raise the ratings on
Braas Monier to the level of that on Standard Industries. This
would depend on, among other things, the level of integration of
Braas Monier within Standard Industries group, whether Braas
Monier's existing debt facilities are kept in place or
repaid/refinanced, and the overall strategy that Standard
Industries decides to follow with regard to Braas Monier's
operations, balance sheet, and cash flows.
S&P will seek to meet with Braas Monier's management in the coming
weeks to gain clarity on these issues, to ascertain the impact of
the proposed acquisition on the company's credit profile.
S&P plans to resolve the CreditWatch once the proposed transaction
is completed, and once S&P assess Braas Monier's status within the
combined group. Upon resolution of the CreditWatch, S&P could
raise its ratings on Braas Monier by one or multiple notches if
the acquisition goes ahead. S&P will likely affirm the ratings if
the transaction does not proceed.
INTELSAT LUXEMBOURG: S&P Lowers Ratings on Senior Notes to 'D'
--------------------------------------------------------------
S&P Global Ratings said that it lowered its issue-level ratings on
Luxembourg-based fixed satellite service provider Intelsat
(Luxembourg) S.A.'s 6.75% senior notes due 2018, 7.75% senior
notes due 2021, and 8.125% senior notes due 2023 to 'D' from 'CC'.
The rating revision follows the company's announcement that it has
repurchased a portion of these notes at a material discount to
par. These issues were subject to the company's previously
announced tender offers, which were funded through a combination
of new Intelsat Connect Finance S.A's 12.5% senior notes due 2022
and cash on hand.
The corporate credit rating on Intelsat remains 'SD'. S&P plans
to raise the corporate credit rating on Intelsat from 'SD' as soon
as possible, mostly likely after the restructuring at Luxembourg
is completed. At that time, S&P will raise the corporate rating
to a level that will reflect the ongoing risk of a conventional
default, incorporating the company's liquidity, challenging
operating environment, and high leverage post its restructuring
initiatives.
RATINGS LIST
Intelsat S.A.
Corporate Credit Rating SD/--
Downgraded; Recovery Rating Unchanged
Intelsat (Luxembourg) S.A.
To From
Senior Unsecured D CC
Recovery Rating 6 6
=====================
N E T H E R L A N D S
=====================
CLONDALKIN INDUSTRIES: S&P Puts 'B' CCR on CreditWatch Developing
-----------------------------------------------------------------
S&P Global Ratings said that it has placed its 'B' long-term
corporate credit rating on Netherlands-based flexible packaging
group Clondalkin Industries B.V. on CreditWatch with developing
implications. At the same time, S&P withdrew the issue and
recovery ratings on the company's senior secured debt, which has
been redeemed.
The CreditWatch placement follows the announcement that
Netherlands-based private equity firm Egeria has completed the
acquisition of Clondalkin. At this stage, the details of the
transaction have not been disclosed; S&P expects to have analyzed
the new capital structure within the first quarter of 2017, at
which time S&P would resolve the CreditWatch placement.
The outcome of the CreditWatch placement will depend on the
resulting capital structure under the new shareholder.
S&P has withdrawn its issue and recovery ratings on the debt that
the group has now redeemed following the transaction.
The CreditWatch placement with developing implications reflects
that S&P could consider a change in ratings in either direction
depending on S&P's analysis of the new capital structure once the
financing details are disclosed.
S&P could affirm the 'B' rating and assign a stable outlook if
Clondalkin's resulting leverage metrics were consistent with the
upper end of the highly leveraged financial risk profile, such as
funds from operations (FFO) to debt above 6% and cash interest
coverage remaining strong at over 2x.
Although S&P sees it as less likely at this stage, it could also
raise the rating to 'B+' if S&P assessed the new capital structure
as having an aggressive financial risk profile. In that case, S&P
would typically anticipate debt to EBITDA materially under 5.0x
and FFO to debt over 12%, with a financial policy that supported
such credit metrics on a sustained basis.
S&P could lower the rating to 'B-' if the post-acquisition capital
structure does not demonstrate stronger credit metrics than
Clondalkin displayed in 2016. Such credit metrics could include
FFO to debt of below 6% and FFO cash interest coverage of below
2x. S&P could also lower the rating if there was pressure on the
group's liquidity.
IHS NETHERLANDS: S&P Assigns 'B+' CCR & Rates $800MM Bonds 'B+'
---------------------------------------------------------------
S&P Global Ratings said that it has assigned its 'B+' long-term
corporate credit rating to Dutch incorporated mobile tower company
IHS Netherlands Holdco B.V. The outlook is stable.
S&P also assigned its 'B+' issue rating to IHS Netherlands'
$800 million bond.
At the same time, S&P is affirming all its ratings on IHS
Netherlands' subsidiaries (IHS Towers NG Ltd. and IHS Towers
Netherlands FinCo NG B.V.) and subsequently withdrawing them at
the company's request.
S&P's rating is supported by its assessment that IHS Netherlands
is a core subsidiary of IHS Holding, the largest independent
mobile tower infrastructure operator in Europe, the Middle East,
and Africa by tower count. IHS Holding operates about 23,000
towers in Nigeria, Rwanda, Zambia, Cameroon, and Cote d'Ivoire.
The rating on IHS Netherlands also reflects our view of the
company's exposure to very high country risk in Nigeria and that
it will generate negative free operating cash flow (FOCF) in 2016-
2017, partly offset by robust operating margins and declining
leverage. S&P also notes the company's leading market position
and sound growth opportunities in Nigeria. S&P's base-case
assumptions for IHS Netherlands have not changed since it assigned
the preliminary rating on Sept. 26, 2016.
IHS Netherlands' exposure to very high country risk in Nigeria is
partly offset by its position as the leading Nigerian independent
tower operator, significant scope for growth in Nigeria, and good
revenue visibility with long-term lease agreements with
telecommunications operators that have strong credit quality. In
addition, the contractual terms include frequent pricing resets to
adjust to the exchange rate, and indexation provisions, which
mitigate against foreign exchange volatility and high energy costs
(a large component of which is to ensure continued operations
where there is intermittent electricity supply).
S&P's assessment of IHS Netherlands' financial risk profile is
constrained by S&P's projection of negative FOCF in 2016 and 2017,
owing to large capital expenditures (capex) to support expansion.
However, due to the robust nature of IHS Netherlands' long-term
lease agreements, S&P anticipates that its FOCF prospects and
credit ratios will improve gradually.
The stable outlook on IHS Netherlands reflects S&P's anticipation
that the company's revenues and EBITDA will increase significantly
in 2017, despite continued negative FOCF. Furthermore, the
outlook reflects our view that IHS Holding will maintain a
stronger credit profile than IHS Netherlands and an adequate
liquidity profile. S&P also takes into account that its
assessment of the group's creditworthiness can be one notch higher
than S&P's rating on Nigeria.
Downside scenario
S&P could lower the rating on IHS Netherlands if S&P downgraded
Nigeria. In addition, S&P could lower the rating if it no longer
considered that its assessment of the group's creditworthiness can
exceed the sovereign rating by one notch, which could result from
the group having lower cash reserves in hard currencies or
limitations in accessing external financing. Furthermore, S&P
could lower the rating if IHS Holding's liquidity were less than
adequate or its leverage were higher than forecast in S&P's base
case.
Upside scenario
There is no rating upside, given S&P's sovereign rating on Nigeria
and its current T&C and country risk assessments.
===============
P O R T U G A L
===============
BANCO ESPIRITO: Egan-Jones Withdraws D Sr. Unsecured Debt Ratings
-----------------------------------------------------------------
Egan-Jones Ratings, on Dec. 27, 2016, withdrew the D senior
unsecured debt ratings on debt issued by Banco Espirito Santo SA.
Banco Espirito Santo, S.A. (BES) provides commercial and
investment banking services.
===========
R U S S I A
===========
PERESVET BANK: S&P Cuts Rating on Bonds to 'D' Following Default
----------------------------------------------------------------
S&P Global Ratings lowered its issue ratings on all bonds issued
by Russia-based JSCB Peresvet Bank to 'D' from 'CC'. S&P also
lowered its Russia national scale issue ratings on the bonds to
'D' from 'ruCC'.
At the same time, S&P removed all the issue ratings on the bank's
bonds from CreditWatch with negative implications, where S&P
placed them on Oct. 24, 2016.
S&P affirmed its 'D' long-term counterparty credit and Russia
national scale ratings on the bank.
The Central Bank of Russia imposed temporary administration and a
six-month payment moratorium on Peresvet Bank on Oct. 22, 2016.
The bank's official disclosures state that as of Dec. 1, 2016, its
negative equity dropped to more than RUB35.1 billion (about US$542
million), indicating a major gap between the value of its
liabilities and assets. Consequently, the bank failed to pay the
Dec. 21, 2016, coupons on its bonds, including the senior
unsecured bond we rate (ISIN: RU000A0JUP97) due June 22, 2017.
Given the bank's large deficiency of own funds to cover the gap in
asset-liability values on its balance sheet, S&P thinks the
possibility of any financial rehabilitation plan initiated by the
Russian regulators that would leave the bank's bondholders intact
is, in our opinion, extremely unlikely, and that a write-off of a
portion of the bonds' principal is highly probable. S&P has
consequently lowered its ratings on all the bank's outstanding
rated bonds to 'D', reflecting our view that the regulator-imposed
payment moratorium on the bank is tantamount to a general default
on its obligations to creditors, versus S&P's previous view, at
the 'CC' rating level, of a virtual certainty of failure to pay on
those obligations.
=========
S P A I N
=========
UFINET TELECOM: S&P Affirms 'B' CCR After Debt Increase
-------------------------------------------------------
S&P Global Ratings said that it has affirmed its 'B' long-term
corporate credit rating on Spain-based provider of fiber
infrastructure Ufinet Telecom Holding SLU. The outlook remains
stable.
At the same time, S&P Global Ratings reviewed its recovery and
issue-level ratings on Ufinet that were labeled as "under criteria
observation" (UCO) after publishing its revised recovery ratings
criteria on Dec. 7, 2016. With S&P's criteria review complete, it
is removing the UCO designation from these ratings and affirming
our 'B' issue rating on Ufinet's senior secured debt. S&P revised
the recovery rating to '3' from '4'.
The affirmation follows the additional EUR79 million senior
secured debt raised by Ufinet, which S&P thinks will be used to
finance mergers and acquisitions (M&A). S&P has therefore revised
its assumptions to take into account the likelihood of additional
acquisitions. S&P thinks that the group will continue to grow
organically in Spain, where volumes should continue offsetting
price pressure, and in Latin America, where demand for
infrastructure is high. At the same time, S&P expects Ufinet will
close additional acquisitions in Latin America. S&P thinks these
potential acquisitions may improve the group's business and
customer diversity. Nevertheless, Ufinet may acquire assets
generating lower margins. As a consequence, S&P included in its
base case a slight decrease in the EBITDA margin to 45%-50% in
2017, compared with 50%-52% expected by the end of 2016.
The overall assessment remains constrained by the group's highly
leveraged financial risk profile, with debt to EBITDA estimated to
moderately increase to 6.0x-6.5x, given that the potential
acquisitions will be partly financed with an add-on of
EUR79 million to the term loan B maturing in 2021. However, S&P
expects Ufinet will continue generating positive free operating
cash flow (FOCF) and cash interest coverage of more than 3x.
The stable outlook on Ufinet reflects S&P's expectation that
increasing bandwidth demand from companies and telecom carriers,
as well as dark fiber demand and inorganic growth in Latin
America, will support solid revenue growth and a sound EBITDA
margin of 45%-50% over the next 12 months. This should translate
into slightly positive FOCF, with FOCF to debt between 0% and 5%,
and adequate liquidity.
Downside scenario
S&P could consider lowering the long-term rating if increased
competition resulted in even lower prices for fiber-optic
services, leading to a substantial decline in EBITDA margins below
40%. S&P would also lower its rating if FOCF turned significantly
negative, and liquidity came under pressure.
Upside scenario
S&P views an upgrade as unlikely as long as preferred shares are
treated as debt under its criteria. However, a positive rating
action could occur if S&P continues to see revenue and EBITDA
growth and improving credit metrics, with the S&P Global Ratings'
adjusted debt-to-EBITDA ratio sustained at around 5.0x-5.5x,
combined with a cash interest coverage ratio remaining at more
than 3.0x and solid cash flow generation, with FOCF to debt
sustainably above 5%.
===========
S W E D E N
===========
STENA AB: Egan-Jones Withdraws 'B' Sr. Unsecured Debt Ratings
-------------------------------------------------------------
Egan-Jones Ratings, on Dec. 22, 2016, withdrew the B senior
unsecured ratings on debt issued by Stena AB. EJR also withdrew
the C commercial paper ratings on the Company.
Stena AB engages in the ferry operations in Sweden and
internationally.
=============
U K R A I N E
=============
BANK TRUST: Deposit Fund Revokes License, Starts Liquidation
------------------------------------------------------------
Interfax-Ukraine, citing Individuals' Deposit Guarantee Fund,
reports that the National Bank of Ukraine on December 29 decided
to revoke the banking license and liquidate PJSC Bank Trust.
The fund started the procedure of bank liquidation, which will
last until December 29, 2018, Interfax-Ukraine relays, citing the
fund's data.
Temporary administrator of the bank Volodymyr Kukharev has been
appointed bank liquidator, Interfax-Ukraine discloses.
The NBU on December 6, 2016 declared Bank Trust insolvent due to
the deterioration of its financial state, Interfax-Ukraine
recounts.
"The deterioration of Bank Trust's financial state was regular and
is caused by a number of factors. In particular, the bank issues
a significant amount of loans in the ATO area. Due to lack of
servicing such loans, the bank's fiscal state deteriorated
significantly. The bank's capital became negative (as of December
1 minus UAH135 million)," Interfax-Ukraine quotes the NBU as
saying.
KSG BANK: SBU Raids Offices in UAH386MM Embezzlement Probe
----------------------------------------------------------
Interfax-Ukraine reports that the Security Service of Ukraine
(SBU) jointly with Prosecutor General's Office and police raided
OJSC KSG Bank investigating into embezzlement of UAH386 million.
The press service of SBU reported on Dec. 28 that the bank's
offices, commercial structures involved in the crime and places of
residence of key owners and top managers of the bank were raided,
Interfax-Ukraine relates.
Law enforcers seized draft accountant documents, stamps, documents
confirming unlawful operations and data storage devices with
information about operation of bubble companies involved in
financial transactions with the funds of the bank," Interfax-
Ukraine quotes the press service as saying.
The law enforcers are investigating into the crime under Part 4 of
Article 190 of the Criminal Code of Ukraine (fraud), Interfax-
Ukraine notes. Investigation is underway, Interfax-Ukraine
states. The key shareholders of the bank were Serhiy Kasianov and
Ksenia Kasianova (33.46% each) and former MP Oleksandr Shepelev,
Interfax-Ukraine discloses.
In 2012, a criminal case was opened against former MP Shepelev,
Interfax-Ukraine relays, citing media reports. He was accused of
being involved in embezzlement of funds of Rodovid Bank (Kyiv,
over UAH220 million) and of participating in embezzlement of
refinancing funds of UAH315.3 million issued by the National Bank
of Ukraine (NBU), according to Interfax-Ukraine.
On August 30, 2016, the NBU decided to revoke the banking license
and liquidate KSG Bank for regular violations in the fight and
prevention of legalization of proceeds received from crime (money
laundering), in particular for risk activities in the sphere of
financial monitoring, Interfax-Ukraine recounts.
During the last inspection the NBU revealed the scheme of
conversion of bank deposits into cash, in which legal entities,
individual entrepreneurs and credit unions were involved,
Interfax-Ukraine relays.
===========================
U N I T E D K I N G D O M
===========================
REDTOP ACQUISITIONS: S&P Affirms 'B' CCR; Outlook Stable
--------------------------------------------------------
S&P Global Ratings said it has affirmed its 'B' long-term
corporate credit rating on Redtop Acquisitions Ltd., an
intermediate holding company of Jersey-based patent renewal
service provider CPA Global. The outlook is stable.
Following Redtop's successful request to lower the margin applied
to its euro-denominated first-lien facilities, S&P has affirmed
its 'B' issue ratings on Redtop Acquisitions' $80 million-
equivalent revolving credit facility (RCF) and GBP735 million-
equivalent first-lien senior secured credit facilities due in
2020. The recovery rating on the first-lien facilities, is '4',
indicating S&P's expectation of substantial (50%-70%) recovery in
the event of a payment default.
The affirmation reflects S&P's view that Redtop Acquisitions will
continue its strong operational performance in 2017 and 2018,
despite lower-than-forecast EBITDA generation in financial 2016.
S&P views the EBITDA margin deterioration being attributed to the
translational effect of foreign exchange movements, as opposed to
a weakening competitive position of its wholly-owned subsidiary,
CPA Global. As such, S&P believes the headwinds will reverse, and
the group will post stronger results over the coming financial
year, leading to a reduction in the adjusted leverage figures.
CPA Global is a leading provider of international patent renewals
services, handling about 1.7 million renewals each year. S&P
believes international patents constitute a limited addressable
market, and approximately 90% of patent renewals are already
outsourced. S&P expects volume growth in the patent renewal
segment to be bound by the growth rate for international patent
filings, which S&P expects to be 5% per year.
The group has limited product diversity, given that it generates
the majority of its profits from its niche international patent
renewal business. This exposes the group to potential reputation
risk arising from a failure to renew patents accurately. However,
these constraints are partly offset by high revenue visibility on
account of the annuity nature of patent renewals; the group's
leading worldwide position in the patent renewal business; and its
longstanding relationship with its customers.
The patent renewal market is very niche and has few barriers to
entry because of the administrative nature of the services
provided, which typically involve low-value processing. However,
the leading incumbent players with their established networks have
a scale advantage that a new entrant would find difficult to
establish over S&P's rating horizon of two-to-three years.
Despite the group's leading position in the sector, it continues
to undertake acquisitions, some defensive, to maintain its
competitive advantage and widen its service offerings. The
group's recent GBP65 million acquisition of Innography, a company
with modest EBITDA generation, is an example of a defensive
acquisition, which S&P expects to provide limited earnings uplift
in the near term.
The group has sound customer diversification, although in S&P's
view, this is somewhat constrained by its strategic partnership
with an agent through which the group serves a meaningful number
of customers.
S&P calculates that the group's S&P Global Ratings-adjusted debt
for the financial year ending July 31, 2017, (financial 2017) will
include on-balance-sheet debt of approximately GBP730 million;
off-balance-sheet debt including GBP750 million in 12% of
preference shares (including accrued interest); and GBP23 million
in operating leases, which S&P considers to be debt.
The group's cash generation benefits from minimal tax payments,
since it is registered in Jersey, and its modest capital
expenditure (capex) requirements. In S&P's view, the group will
generate cash funds from operations (FFO) of about GBP100 million
in financial 2017, and return to FFO cash interest coverage of
more than 2.0x for the next two years.
The group's debt is mostly denominated in U.S. dollars and euros.
S&P understands that the currency exposure originating from Redtop
Acquisitions' multi-currency debt obligations is closely matched
by its sources of revenue generation. However, S&P also notes
that the book-value of its outstanding debt rose significantly at
the end of financial 2016, and was not offset by a similar rise in
EBITDA due to timing differences, which led to a material increase
in leverage in financial 2016. If the group is unable to reduce
its significant leverage (over 17.0x at the end of financial 2016,
on an adjusted basis), S&P could view its capital structure as
unsustainable, which could lead S&P to lower the rating.
In S&P's base case, it assumes:
-- Group revenue growth in financial 2017, of approximately
10%-15%, partly due to an increase in patent renewal
volumes, average gross income per renewal case, supported
by an increase in IP services and the increased
contribution from Innography, but also supported by the
reversal of recent foreign currency translational
headwinds.
-- S&P do not forecast acquisitions over its forecast horizon,
following the GBP65 million acquisition of Innography in
financial 2016.
Based on these assumptions, S&P arrives at these credit measures:
-- Adjusted debt to EBITDA will reduce to 12.5x-14.5x in
financial 2017-2018 from 16.0x in financial 2016.
-- Excluding the impact of the group's preference shares, S&P
forecasts debt to EBITDA will reduce to 6.0x-8.0x in
financial 2017-2018 from 9.4x in financial 2016.
-- Reported free operating cash flows (FOCF) will rise to
GBP40 million-GBP60 million in financial 2017 and GBP60
million-GBP80 million in financial 2018, from GBP13 million
in financial 2016.
-- Adjusted FFO cash interest coverage should rise to
2.5x-3.0x in financial 2017 and 3.0x-3.5x in financial
2018, from 1.8x in financial 2016.
The stable outlook on Redtop Acquisitions reflects S&P's view that
the group will continue to benefit from steady recurring demand
for patent renewal processing and increased volumes from new
corporate clients, in addition to a reduction of leverage through
a reversal of foreign currency translational headwinds. S&P
forecasts that limited tax payments and capex requirements will
enable the group to generate reported FOCF of about GBP40 million-
GBP60 million in financial 2017.
S&P could lower the ratings if weak trading due to customer losses
or new regulations undermines the group's liquidity position such
that EBITDA cash interest coverage falls to less than 2x and FOCF
is negative for a sustained period. S&P could also take a
negative rating action if the group fails to deleverage from
currently elevated levels due to a weakening of operating
performance or it undertakes further substantial debt-financed
acquisitions that reverse the deleveraging (excluding preference
shares) that S&P currently expects in its base-case credit
scenario after financial 2016.
S&P could raise the ratings if the group deleverages
substantially. However, S&P considers this possibility to be
remote at this stage, due to the group's recent debt-financed
acquisition of U.S.-based patent search and intellectual property
analytics software company Innography and the adverse effect of
foreign-exchange movements on the group's U.S. dollar- and euro-
denominated debt.
TRAVELEX HOLDINGS: S&P Affirms 'B-' CCR & Revises Outlook to Neg.
-----------------------------------------------------------------
S&P Global Ratings said that it revised its outlook on U.K.-based
foreign exchange services provider Travelex Holdings Ltd. to
negative from stable. At the same time, S&P affirmed its 'B-'
long-term corporate credit rating on the company.
S&P also affirmed its 'B-' issue rating on Travelex's
GBP350 million senior secured notes due in 2018. S&P's recovery
rating on the notes is unchanged at '4', indicating S&P's
expectation of recovery in the lower half of the 30%-50% range in
the event of a payment default.
S&P also affirmed its 'B+' issue rating on the GBP90 million super
senior revolving credit facility (RCF). The recovery rating
remains at '1', indicating S&P's expectation of very high recovery
(90%-100%) in a default scenario.
The outlook revision reflects the contraction of Travelex's EBITDA
in the nine months to Sept. 30, 2016 which, excluding currency
effects, were weaker than S&P had previously anticipated. S&P
believes that certain factors contributing to the results are
likely to persist, and have therefore revised S&P's base-case
forecast for the full year, projecting a more muted recovery in
2017 and 2018.
In the nine months to Sept. 30, 2016, Travelex reported a 36% drop
in EBITDA to GBP42.4 million, attributable mainly to the wholesale
and outsourcing division where revenues fell by 10.5%. This was
as a result of lower banknote orders from Nigeria because of
capital controls, and fewer U.K. consumers traveling abroad due to
the weaker pound, and the short-term impact of the U.K.'s
referendum vote to leave the EU. The retail division held up
relatively well, posting 2% like-for-like revenue globally, but
this was partly offset by the impact of terrorism in France and
Belgium, resulting in EBITDA margins for the division falling to
12.5% from 14.0% previously.
"We continue to forecast a recovery in 2017 and 2018, but we now
see the extent and timing of such recovery as less certain. We
understand that volumes to Nigeria are starting to recover, but
sterling remains weak and the security situation in Europe remains
uncertain. At the same time, Travelex is continuing to invest in
the digital division, which is needed to offset structurally
declining demand for cash payments in Travelex's mature markets.
We also expect Travelex to record substantially negative free
operating cash flow (FOCF) in 2016 as a result of a change in
payment terms by one its key banknotes suppliers," S&P said.
Positively, S&P sees Travelex's liquidity position as having
materially improved following asset disposals that will generate
higher-than-expected cash proceeds of about GBP115 million in
2016. S&P further notes that Travelex's shareholders have
provided funding support in 2016 in the form of GBP27 million of
shareholder loans, with an expectation of more support being
available in 2017. Part of this will be used to offset the effect
of the large working capital outflow in 2016 related to the change
in creditor terms by one of its key banknotes suppliers. S&P
further understands that Travelex has repurchased GBP10 million of
its high-yield bond in 2016, and intends to further reduce its
high-yield bond by approximately GBP40 million in 2017.
Travelex's financial risk profile continues to be constrained by
high debt, consisting of GBP347 million in senior secured notes, a
GBP90 million super senior RCF, and GBP681 million in payment-in-
kind (PIK) notes and non-cash-pay preferred shares, all at the
restricted group, as defined in the bond documentation. There is
also a $490 million cash-pay loan at BRS Ventures & Holdings Ltd.
(BRSV), Travelex's holding company, which however does not rely on
dividends from Travelex for servicing.
As a result of the EBITDA contraction, S&P forecasts that its key
measure of reported EBITDA interest coverage at the restricted
group (including restructuring costs but excluding exceptional
items) will fall to about 1.4x in 2016, which is just short of
S&P's expectation that it stated for a stable outlook, of about
1.5x. S&P excludes interest on the debt at BRSV from our
calculation, because S&P understands that the upstreaming of
dividends is currently restricted.
S&P's assessment of Travelex's business risk profile as weak
reflects the pressures on Travelex's profitability, its exposure
to the cyclicality and event risks of the travel industry, the
decreasing share of cash used by travelers, and the complex
regulated environment in which Travelex operates. These business
risk weaknesses are partly offset by the company's position as the
largest nonbank provider of travel money worldwide, its product
and geographic diversification, and strong franchise, coupled with
favorable long-term trends for air travel volumes.
In S&P's base case, it assumes:
-- Mid-single-digit revenue growth, including the opening of
new stores and ATMs, and an increase in outsourcing
contracts.
-- A five-to-six percentage point decline in the core group
EBITDA margin in 2016, excluding exceptional expenses, due
to lower wholesale shipments to Nigeria, declining activity
in Brazil, higher investment in digital, and lower retail
volumes due to European terror attacks. S&P anticipates
modestly improving EBITDA margins from 2017.
-- GBP8 million in exceptional expenses in 2016 related to the
sale of Travelex to Dr. Shetty in 2015.
-- Working capital requirement in 2016 of about GBP70 million,
of which GBP50 million is a one-time outflow related to the
change in terms of a key bank notes supplier, partly offset
by new alternative supply
-- Arrangements and new shareholder loans from the owners,
which are accounted for as a financing inflow. Disposal
proceeds of GBP115 million in 2016 from the sale of
Currency Select and the U.S. insurance business.
-- Capex of about GBP30 million in 2016 and GBP43 million in
2017.
-- No dividend payments to shareholders.
Based on these assumptions, S&P arrives at these credit measures:
-- Adjusted debt to EBITDA of about 9x in 2016 and 8x in 2017,
including non-cash-pay shareholder loans and preferred
shares of about GBP640 million, and the holding company's
debt of $490 million. Unadjusted EBITDA cash interest
coverage at the restricted group of about 1.4x in 2016 and
1.8x in 2017. S&P uses reported coverage ratios because
its lease adjustments result in artificially improved
metrics due to the importance of short-term lease
commitments.
-- S&P's forecast of FOCF after exceptional items at about
negative GBP70 million in 2016 and positive GBP10 million
in 2017.
The negative outlook reflects S&P's expectation of material EBITDA
contraction in 2016, and consequent pressure on leverage, interest
coverage metrics, and EBITDA margins. In S&P's revised base case,
it anticipates that S&P Global Ratings-adjusted debt to EBITDA
will be about 9x in 2016, and will improve to about 8x in 2017, as
shipments to Nigeria normalize and underlying growth in the retail
segment continues, with reduced impact from the effects of a
weaker sterling and terrorism. S&P also forecasts that its key
measure of reported EBITDA interest coverage at the restricted
group (including restructuring costs but excluding exceptional
items) will fall to about 1.4x in 2016, and will rise to about
1.8x in 2017.
"We could lower the ratings if Travelex's earnings and FOCF
deteriorated beyond our current base case, for example due to the
loss of important wholesale contracts, a further deterioration of
the geopolitical environment, continued lower travel volumes by
U.K.-based consumers, or continued working capital outflows. We
could lower the ratings if we believed that the capital structure
was no longer sustainable, for example, if adjusted debt-to-EBITDA
rose sustainably above 9x. We could also lower the ratings if our
measure of reported EBITDA interest coverage at the restricted
group (including restructuring costs but excluding exceptional
items) fell below 1.5x for a sustained period, or if FOCF did not
show a path to becoming at least neutral in 2017,".
"For us to revise the outlook back to stable would require
Travelex to demonstrate a clear turnaround in its operating
performance, such that we believed that EBITDA in 2017 would at
least meet our base-case expectations, including adjusted debt-to-
EBITDA of about 8x, and reported EBITDA interest coverage at the
restricted group (including restructuring costs but excluding
exceptional items) of clearly and sustainably more than 1.5x. A
stable outlook would also require us to believe that FOCF is
materially improving in 2017, for example as a result of working
capital efficiency measures," S&P said.
===============
X X X X X X X X
===============
* BOND PRICING: For the Week December 26 to December 30, 2016
-------------------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------- -----
Banca Monte dei Paschi di S 5.00 4/21/2020 EUR 45.17
Privatbank CJSC Via UK SPV 10.25 1/23/2018 USD 13.82
Banca Monte dei Paschi di S 2.29 5/15/2018 EUR 45.25
Bank of New York Mellon Lux 3.94 12/30/2099 EUR 2.96
Banca Monte dei Paschi di S 5.60 9/9/2020 EUR 46.25
Oi Brasil Holdings Cooperat 5.75 2/10/2022 USD 32.00
Banca Monte dei Paschi di S 0.69 11/30/2017 EUR 45.19
Privatbank CJSC Via UK SPV 11.00 2/9/2021 USD 10.13
Ensco PLC 5.75 10/1/2044 USD 72.24
Bank of New York Mellon Lux 4.19 12/15/2050 EUR 45.25
Privatbank CJSC Via UK SPV 10.88 2/28/2018 USD 11.75
Portugal Telecom Internatio 4.63 5/8/2020 EUR 30.01
CGG SA 5.88 5/15/2020 EUR 45.65
CSN Resources SA 6.50 7/21/2020 USD 73.44
Intelsat Luxembourg SA 7.75 6/1/2021 USD 32.75
Air Berlin PLC 6.75 5/9/2019 EUR 75.00
Offshore Drilling Holding S 8.38 9/20/2020 USD 43.00
Veneto Banca SpA 9.50 12/1/2025 EUR 38.83
Portugal Telecom Internatio 5.00 11/4/2019 EUR 29.51
Banca Popolare di Vicenza 2.84 12/20/2017 EUR 52.00
Aegon NV 0.26 EUR 62.04
Portugal Telecom Internatio 4.38 3/24/2017 EUR 29.98
Petrobras Global Finance BV 5.63 5/20/2043 USD 74.47
PagesJaunes Finance & Co SC 8.88 6/1/2018 EUR 62.02
Grupo Isolux Corsan Finance 6.63 4/15/2021 EUR 21.50
Abengoa SA 8.50 3/31/2016 EUR 3.78
CGG SA 1.75 1/1/2020 EUR 2.28
Banque Federative du Credit 0.90 EUR 61.21
Air Berlin PLC 5.63 5/9/2019 CHF 64.87
Banca Popolare di Vicenza 9.50 9/29/2025 EUR 39.05
Casino Guichard Perrachon S 1.43 EUR 58.88
CHC Helicopter SA 9.25 10/15/2020 USD 45.00
Obrascon Huarte Lain SA 4.75 3/15/2022 EUR 72.00
Rickmers Holding AG 8.88 6/11/2018 EUR 18.13
Aegon NV 1.68 USD 71.32
Frigoglass Finance BV 8.25 5/15/2018 EUR 63.52
Portugal Telecom Internatio 4.50 6/16/2025 EUR 30.43
Ajecorp BV 6.50 5/14/2022 USD 51.46
Obrascon Huarte Lain SA 5.50 3/15/2023 EUR 71.66
Portugal Telecom Internatio 6.25 7/26/2016 EUR 29.73
Abengoa Finance SA 8.88 2/5/2018 EUR 4.02
Portugal Telecom Internatio 5.88 4/17/2018 EUR 29.50
AXA SA 0.82 EUR 70.28
Fuerstenberg Capital II Gmb 5.63 EUR 65.34
AXA SA 0.54 EUR 66.37
QGOG Constellation SA 6.25 11/9/2019 USD 65.93
AXA SA 0.95 EUR 72.32
Abengoa Finance SA 6.00 3/31/2021 EUR 3.86
Fred Olsen Energy ASA 4.13 2/28/2019 NOK 57.88
Veneto Banca SpA 0.74 6/21/2017 EUR 44.06
CGG SA 6.50 6/1/2021 USD 46.10
CGG SA 1.25 1/1/2019 EUR 17.43
Far East Capital Ltd SA 8.00 5/2/2018 USD 56.00
Nordea Bank AB 0.44 EUR 67.39
Bluewater Holding BV 10.00 12/10/2019 USD 64.50
Avanti Communications Group 10.00 10/1/2019 USD 76.00
OAS Investments GmbH 8.25 10/19/2019 USD 5.00
Santander International Pre 2.00 USD 46.00
Banca Monte dei Paschi di S 7.00 3/4/2019 EUR 46.13
Brunswick Rail Finance Desi 6.50 11/1/2017 USD 58.50
BPCE SA 2.81 USD 71.52
Intelsat Jackson Holdings S 5.50 8/1/2023 USD 67.66
Neopost SA 3.38 EUR 50.76
CNP Assurances 0.88 EUR 59.08
Etablissements Maurel et Pr 1.63 7/1/2019 EUR 16.50
Abengoa Finance SA 7.00 4/15/2020 EUR 3.80
HSBC Bank PLC 1.63 USD 70.87
Sapinda Invest SARL 5.00 6/30/2019 EUR 54.00
ING Groep NV 0.84 EUR 67.38
AXA SA 1.43 USD 74.15
Banca Monte dei Paschi di S 0.69 1/15/2018 EUR 46.95
Ageasfinlux SA 1.04 EUR 47.67
BNP Paribas Fortis SA 1.68 EUR 65.31
ING Groep NV 0.44 EUR 62.35
Rothschilds Continuation Fi 0.81 EUR 54.93
Holdikks SAS 6.75 7/15/2021 EUR 70.51
Capital Funding GmbH 2.09 EUR 71.27
Credit Agricole SA 0.68 EUR 62.62
Landes-Hypothekenbank Steie 0.07 3/20/2043 EUR 73.33
Intelsat Luxembourg SA 8.13 6/1/2023 USD 31.75
Immigon Portfolioabbau AG 10.00 EUR 6.63
HSH Nordbank AG/Luxembourg 2.10 EUR 13.85
AXA SA 2.10 USD 74.81
Credit Mutuel Arkea SA 0.44 EUR 53.71
ADLER Real Estate AG 2.50 7/19/2021 EUR 14.99
Gol LuxCo SA 8.88 1/24/2022 USD 67.50
Scholz Holding Gmbh 8.50 3/8/2017 EUR 37.38
Indo Energy Finance II BV 6.38 1/24/2023 USD 80.01
Banco Espirito Santo SA 4.00 1/21/2019 EUR 27.88
Banque Federative du Credit 0.65 EUR 59.70
Aldesa Financial Services S 7.25 4/1/2021 EUR 67.00
Brighthouse Group PLC 7.88 5/15/2018 GBP 68.88
Avanti Communications Group 10.00 10/1/2019 USD 60.25
Banca Monte dei Paschi di S 2.79 10/31/2018 EUR 46.00
Pacific Drilling SA 5.38 6/1/2020 USD 35.68
Algeco Scotsman Global Fina 10.75 10/15/2019 USD 71.25
Abengoa Greenfield SA 5.50 10/1/2019 EUR 3.88
IMMOFINANZ AG 4.25 3/8/2018 EUR 4.32
Havila Shipping ASA 8.60 3/30/2017 NOK 50.88
Santander Finance Preferred 0.31 EUR 59.04
Caixa Terrassa Societat de 0.41 EUR 54.63
KTG Energie AG 7.25 9/28/2018 EUR 6.75
KTG Agrar SE 7.13 6/6/2017 EUR 2.07
CGG SA 6.88 1/15/2022 USD 46.26
Solarworld AG 9.68 2/24/2019 EUR 57.10
Air France-KLM 2.03 2/15/2023 EUR 10.41
SOITEC 6.75 9/18/2018 EUR 2.79
OGX Austria GmbH 8.50 6/1/2018 USD 0.00
Jyske Bank A/S 0.49 EUR 51.13
Yuksel Insaat AS 9.50 11/10/2015 USD 25.88
Abengoa Finance SA 8.88 11/1/2017 USD 3.42
Banco Espirito Santo SA 7.13 11/28/2023 EUR 0.35
VistaJet Malta Finance PLC 7.75 6/1/2020 USD 65.88
Bibby Offshore Services PLC 7.50 6/15/2021 GBP 60.50
Banca Carige SpA 2.78 6/19/2018 EUR 70.00
Mriya Agro Holding PLC 9.45 4/19/2018 USD 6.95
WPE International Cooperati 10.38 9/30/2020 USD 15.00
Alno AG 8.50 5/14/2018 EUR 42.75
UkrLandFarming PLC 10.88 3/26/2018 USD 26.50
Pierre & Vacances SA 3.50 10/1/2019 EUR 40.47
Societe Alsacienne et Lorra 1.63 1/1/2022 EUR 57.62
Johnston Press Bond Plc 8.63 6/1/2019 GBP 62.75
Econocom Group SA/NV 1.50 1/15/2019 EUR 14.07
Takko Luxembourg 2 SCA 6.69 4/15/2019 EUR 73.00
ATF Capital BV 8.58 USD 62.13
CEVA Group PLC 9.00 9/1/2021 USD 65.00
European Directories BondCo 7.00 12/9/2018 EUR 66.25
HSBC Bank PLC 1.50 USD 72.13
Ichor Coal NV 8.00 6/7/2017 EUR 53.44
Banco Espirito Santo SA 2.63 5/8/2017 EUR 27.88
Banco Bilbao Vizcaya Argent 0.99 EUR 72.26
Banca Carige SpA 8.34 EUR 34.50
Afren PLC 6.63 12/9/2020 USD 0.06
HSBC Bank PLC 1.48 USD 70.67
Far East Capital Ltd SA 8.75 5/2/2020 USD 57.50
GEWA 5 to 1 GmbH & Co KG 6.50 3/24/2018 EUR 31.38
Banco Espirito Santo SA 4.75 1/15/2018 EUR 27.88
Bilt Paper BV 9.64 USD 49.19
BPCE SA 0.42 EUR 56.50
Novo Banco SA 5.00 4/4/2019 EUR 67.92
Sequa Petroleum NV 5.00 4/29/2020 USD 69.00
Virgolino de Oliveira Finan 10.50 1/28/2018 USD 8.10
Nexity SA 0.13 1/1/2023 EUR 63.95
CHC Helicopter SA 9.38 6/1/2021 USD 34.00
Lambay Capital Securities P 6.25 GBP 0.58
Cofinoga Funding Two LP 1.68 EUR 62.25
Aegon NV 5.19 NLG 65.46
Rothschilds Continuation Fi 1.50 USD 48.75
Eramet 4.00 EUR 57.22
Fuerstenberg Capital Erste 1.45 EUR 56.63
Paragon Offshore PLC 6.75 7/15/2022 USD 18.25
BIM SAS 2.50 11/13/2020 EUR 27.07
Novo Banco SA 3.50 1/2/2043 EUR 50.88
Rem Offshore ASA 5.00 12/8/2024 NOK 32.30
NIBC Bank NV 0.66 EUR 51.00
Etablissements Maurel et Pr 2.75 7/1/2021 EUR 11.01
Bremer Landesbank Kreditans 8.50 EUR 61.84
Espirito Santo Financial Gr 6.88 10/21/2019 EUR 0.31
Sydbank A/S 0.85 EUR 56.50
GNB - Cia de Seguros de Vid 3.18 EUR 50.00
Caisse Federale du Credit M 0.89 EUR 54.05
IGas Energy PLC 10.00 3/22/2018 USD 73.75
Banca Popolare di Vicenza 5.00 6/4/2024 EUR 67.44
Ekosem-Agrar GmbH 8.50 12/7/2022 EUR 66.75
UniCredit Bank Austria AG 0.18 10/31/2031 EUR 68.59
Norske Skog Holding AS 8.00 2/24/2021 EUR 48.88
Virgolino de Oliveira Finan 11.75 2/9/2022 USD 7.97
GNB - Cia de Seguros de Vid 1.88 12/19/2022 EUR 55.00
Norske Skogindustrier ASA 7.13 10/15/2033 USD 29.63
Waste Italia SpA 10.50 11/15/2019 EUR 24.88
Deutsche Bank AG/London 2.98 6/30/2034 USD 60.25
OSX 3 Leasing BV 13.00 3/20/2015 USD 25.00
Banco Santander SA 0.61 EUR 58.20
Societe Generale SA 1.38 USD 62.25
Mitchells & Butlers Finance 0.97 12/15/2033 GBP 72.67
BNP Paribas SA 1.15 EUR 56.00
Pescanova SA 5.13 4/20/2017 EUR 2.05
German Pellets GmbH 7.25 7/9/2018 EUR 0.75
Beate Uhse AG 7.75 7/9/2019 EUR 22.50
Rudolf Woehrl AG 6.50 2/12/2018 EUR 11.26
Danske Bank Oyj 0.63 EUR 56.55
Abengoa Finance SA 7.75 2/1/2020 USD 3.23
Norske Skogindustrier ASA 2.00 12/30/2115 EUR 15.00
Sanha GmbH & Co KG 7.75 6/4/2018 EUR 40.25
Oi Brasil Holdings Cooperat 5.75 2/10/2022 USD 33.50
Popular Capital SA 0.81 EUR 48.00
Solarworld AG 9.68 2/24/2019 EUR 50.87
Nordea Bank Norge ASA 1.50 USD 63.03
Jyske Bank A/S 0.53 EUR 57.75
Banca Monte dei Paschi di S 4.40 3/14/2024 EUR 32.13
Tatfondbank PJSC 12.50 12/11/2024 RUB 29.32
Co-Operative Bank PLC/Unite 8.50 7/1/2025 GBP 69.68
NTRP Via Interpipe Ltd 10.25 8/2/2017 USD 26.67
Privatbank CJSC Via UK SPV 10.88 2/28/2018 USD 13.00
Santander Finance Capital S 2.00 USD 43.00
Allied Irish Banks PLC 12.50 6/25/2035 GBP 73.50
Novo Banco SA 5.00 5/14/2019 EUR 68.08
Deutsche Bank AG/London 3.20 10/31/2034 USD 71.50
Tatfondbank PJSC 13.50 5/28/2025 RUB 29.85
Ekosem-Agrar GmbH 8.75 3/23/2021 EUR 72.25
Ideal Standard Internationa 11.75 5/1/2018 EUR 11.88
Matalan Finance PLC 8.88 6/1/2020 GBP 68.25
Banco Espirito Santo SA 2.35 EUR 0.15
Paragon Offshore PLC 7.25 8/15/2024 USD 17.75
Volksbank NV 6.25 10/26/2020 EUR 3.23
KTG Agrar SE 7.25 10/15/2019 EUR 2.09
Volksbank NV 11.25 EUR 1.69
Standard Chartered PLC 1.65 USD 66.56
World Wide Supply AS 7.75 5/26/2017 USD 14.00
Greene King Finance PLC 2.45 3/15/2036 GBP 69.89
E Forland AS 7.89 9/4/2018 NOK 67.00
Ausy 3.25 1/1/2021 EUR 63.25
ESFIL-Espirito Santo Financ 5.25 6/12/2015 EUR 0.25
German Pellets GmbH 7.25 11/27/2019 EUR 0.75
Pacific Drilling SA 5.38 6/1/2020 USD 35.00
Pescanova SA 8.75 2/17/2019 EUR 2.05
Barclays Bank PLC 1.62 1/27/2031 USD 69.97
Aegon NV 1.51 NLG 57.27
Minicentrales Dos SA 6.45 4/14/2028 EUR 63.50
Scandinavian Airlines Syste 0.63 CHF 24.88
Offshore Drilling Holding S 8.38 9/20/2020 USD 41.00
Aralco Finance SA 10.13 5/7/2020 USD 2.00
Alpine Holding GmbH 6.00 5/22/2017 EUR 1.69
Bank Nadra via NDR Finance 8.25 7/31/2018 USD 0.38
Candyking Holding AB 5.00 1/29/2018 SEK 36.63
Manchester Building Society 6.75 GBP 13.88
Barclays Bank PLC 0.84 3/21/2033 USD 54.75
Farstad Shipping ASA 4.52 5/29/2018 NOK 28.50
Oceanteam ASA 12.13 10/24/2017 USD 20.00
Mobylife Holding A/S 7.25 5/23/2018 SEK 64.88
Olympic Ship AS 6.15 6/18/2019 NOK 19.75
Elematic Oy Ab 10.00 5/30/2018 EUR 53.00
Talvivaara Mining Co PLC 4.00 12/16/2015 EUR 0.38
Iona Energy Co UK PLC 12.50 9/27/2018 USD 3.27
Abengoa SA 6.25 1/17/2019 EUR 2.64
Praktiker AG 5.88 2/10/2016 EUR 0.13
City of Kiev Ukraine Via CS 8.00 11/6/2015 USD 70.38
3W Power SA 5.50 11/11/2020 EUR 64.51
Elli Investments Ltd 12.25 6/15/2020 GBP 45.13
Barclays Bank PLC 1.48 7/28/2031 USD 67.56
Tonon Luxembourg SA 7.25 1/24/2020 USD 11.13
Avanti Communications Group 10.00 10/1/2019 USD 60.00
Afren PLC 11.50 2/1/2016 USD 0.09
Tonon Luxembourg SA 10.50 5/14/2024 USD 40.63
Mriya Agro Holding PLC 10.95 3/30/2016 USD 5.67
Novo Banco SA 5.00 5/21/2019 EUR 68.08
Barclays Bank PLC 1.88 11/1/2031 USD 65.10
Barclays Bank PLC 5.40 9/13/2028 USD 74.85
IGas Energy PLC 10.00 12/11/2018 USD 21.88
IKB Deutsche Industriebank 5.63 3/31/2017 EUR 27.00
Centrics Oil & Gas Finance 6.00 3/4/2017 EUR 70.00
Lloyds Bank PLC 3.25 11/27/2033 USD 66.50
Enterprise Holdings LTD 7.00 3/30/2020 EUR 2.33
Royal Bank of Scotland Grou 1.16 USD 70.75
Abengoa Finance SA 8.88 11/1/2017 USD 3.42
Barclays Bank PLC 2.62 12/23/2033 USD 68.53
Banca Popolare di Vicenza 4.97 4/20/2027 EUR 68.63
Deutsche Bank AG/London 1.09 3/15/2033 USD 54.25
Vneshprombank Ltd via VPB F 9.00 11/14/2016 USD 0.00
NIBC Bank NV 1.84 USD 59.50
Neue ZWL Zahnradwerk Leipzi 7.50 2/17/2021 EUR 62.63
Banca Carige SpA 1.68 12/29/2018 EUR 47.88
BNP Paribas SA 1.31 USD 63.00
Barclays Bank PLC 2.72 3/28/2034 USD 61.22
Mitchells & Butlers Finance 2.50 6/15/2036 GBP 73.53
Novo Banco SA 5.00 5/23/2019 EUR 67.74
Vseukrainsky Aktsinerny Ban 10.90 6/14/2019 USD 1.83
Barclays Bank PLC 3.55 7/31/2034 USD 68.48
Talvivaara Mining Co PLC 9.75 4/4/2017 EUR 0.56
OGX Austria GmbH 8.38 4/1/2022 USD 0.00
SeniVita Sozial gemeinnuetz 7.00 EUR 70.00
Farstad Shipping ASA 5.27 2/15/2017 NOK 28.50
Spirit Issuer PLC 0.92 12/28/2028 GBP 71.96
Touax SA 6.00 7/10/2020 EUR 16.85
Cooperatieve Rabobank UA 0.50 11/26/2021 ZAR 64.41
Espirito Santo Financial Gr 3.13 12/2/2018 EUR 0.23
Steilmann SE 7.00 3/9/2017 EUR 2.42
Tatfondbank PJSC 13.00 9/7/2021 RUB 26.83
Barclays Bank PLC 1.50 USD 69.35
Travel24.com AG 7.50 9/17/2017 EUR 60.00
Corporate Commercial Bank A 8.25 8/8/2014 USD 0.54
Havila Shipping ASA 9.67 8/30/2017 NOK 14.75
Cirio Holding Luxembourg SA 6.25 2/16/2004 EUR 0.75
National Westminster Bank P 1.50 USD 70.75
Minicentrales Dos SA 4.81 11/29/2034 EUR 56.50
Avanti Communications Group 10.00 10/1/2019 USD 62.38
TradeDoubler AB 6.75 12/20/2018 SEK 47.13
Phosphorus Holdco PLC 10.00 4/1/2019 GBP 3.29
Afren PLC 6.63 12/9/2020 USD 0.06
OP Corporate Bank plc 0.61 EUR 56.03
Lehman Brothers UK Capital 5.75 EUR 0.02
Rena GmbH 7.00 12/15/2015 EUR 8.63
Banca delle Marche SpA 0.64 6/1/2017 EUR 1.00
Novo Banco SA 5.00 2/24/2022 EUR 68.25
LBI HF 6.10 8/25/2011 USD 11.13
Barclays Bank PLC 0.69 2/25/2031 USD 67.81
Orient Express Bank PJSC vi 12.00 5/29/2019 USD 51.88
Lloyds Bank PLC 0.66 4/26/2033 USD 54.38
Avanti Communications Group 10.00 10/1/2019 USD 59.88
Capital Raising GmbH 7.50 EUR 18.50
Olympic Ship AS 7.29 9/21/2017 NOK 21.25
Lehman Brothers UK Capital 5.13 EUR 0.20
Credit Lyonnais SACA 0.80 EUR
Barclays Bank PLC 0.53 5/31/2033 USD 54.57
Gebr Sanders GmbH & Co KG 8.75 10/22/2018 EUR 24.75
Volstad Subsea AS 7.65 7/5/2017 NOK 69.88
Banco Espirito Santo SA 6.88 7/15/2016 EUR 26.88
Stroika Finance Ltd Via Eme 7.70 6/25/2019 RUB 12.00
Lloyds Bank PLC 1.56 USD 70.20
Barclays Bank PLC 0.96 9/30/2031 USD 67.82
Dexia Credit Local SA 1.42 EUR 3.60
Steilmann SE 7.00 9/23/2018 EUR 2.42
Novo Banco SA 3.00 6/21/2022 USD 65.01
National Westminster Bank P 1.38 USD 70.75
Sazka AS 9.00 7/12/2021 EUR 2.73
Alcatel-Lucent SA 0.13 1/30/2020 EUR 4.11
Royal Bank of Scotland PLC/ 2.65 8/26/2031 USD 62.92
International Industrial Ba 11.00 2/19/2013 USD 0.49
Abengoa Greenfield SA 6.50 10/1/2019 USD 3.88
Veneto Banca SpA 6.95 2/25/2025 EUR 43.50
National Westminster Bank P 1.19 USD 70.88
Abengoa SA 4.50 2/3/2017 EUR 4.30
Virgolino de Oliveira Finan 10.88 1/13/2020 USD 25.75
Deutsche Bank AG/London 2.65 8/28/2034 USD 58.00
Electromagnetic Geoservices 7.18 6/27/2019 NOK 45.63
EDOB Abwicklungs AG 7.50 4/1/2012 EUR 0.25
Solor Bioenergi Holding AB 6.30 11/2/2017 NOK 57.50
Orco Property Group SA 7.00 11/7/2019 EUR 70.50
Abengoa Greenfield SA 6.50 10/1/2019 USD 3.88
syncreon Group BV / syncreo 8.63 11/1/2021 USD 73.50
Breeze Finance SA 6.71 4/19/2027 EUR 28.00
RENE LEZARD Mode GmbH 7.25 11/25/2017 EUR 15.00
Novo Banco SA 5.00 3/15/2022 EUR 68.25
Enterprise Holdings LTD 7.00 9/26/2017 EUR 2.33
Neue ZWL Zahnradwerk Leipzi 7.50 3/4/2019 EUR 73.63
Novo Banco SA 3.50 2/19/2043 EUR 51.70
Espirito Santo Financial Gr 9.75 12/19/2025 EUR 0.52
Brunswick Rail Finance Desi 6.50 11/1/2017 USD 58.38
Paragon Offshore PLC 7.25 8/15/2024 USD 17.75
Royal Bank of Scotland PLC/ 2.54 11/16/2030 USD 64.45
Lloyds Bank PLC 1.33 USD 70.25
Lehman Brothers Treasury Co 6.00 11/2/2035 EUR 9.25
Societe Generale SA 0.81 EUR 52.14
Norske Skogindustrier ASA 7.13 10/15/2033 USD 34.69
PA Resources AB 13.50 3/3/2016 SEK 0.11
getgoods.de AG 7.75 10/2/2017 EUR 0.03
Barclays Bank PLC 0.66 3/28/2033 USD 54.66
Abanka Vipa DD Via Afinance 1.59 EUR 0.91
Lloyds Bank PLC 0.83 1/31/2033 USD 57.93
Sydbank A/S 0.79 EUR 69.25
Steilmann SE 6.75 6/27/2017 EUR 4.44
BOA Offshore AS 7.90 12/18/2018 NOK 23.50
JZ Capital Partners Ltd 6.00 7/30/2021 GBP 11.00
Barclays Bank PLC 1.56 USD 71.34
Island Drilling Co ASA 9.50 4/3/2018 USD 2.87
Dexia SA 1.47 EUR 5.13
Commerzbank Holdings UK Ltd 1.69 USD 67.53
Deutsche Bank AG 0.50 6/28/2033 USD 56.13
SiC Processing GmbH 7.13 3/1/2016 EUR 1.26
Smart Solutions GmbH 8.00 12/3/2018 EUR 29.38
Portugal Telecom Internatio 5.24 11/6/2017 EUR 30.88
IKB Deutsche Industriebank 4.70 3/31/2017 EUR 27.00
Azubu Investments SA 5.00 8/25/2018 EUR 50.00
Cirio Finanziaria SpA 8.00 12/21/2005 EUR 0.25
Veneto Banca SpA 6.94 5/15/2025 EUR 29.88
Lehman Brothers Treasury Co 6.00 2/15/2035 EUR 9.25
Barclays Bank PLC 4.65 11/28/2029 USD 74.75
Alno AG 8.00 3/21/2019 EUR 38.00
CNP Assurances 2.00 EUR 62.00
Teksid Aluminum Luxembourg 11.38 7/15/2011 EUR 0.19
Barclays Bank PLC 3.23 8/28/2029 USD 74.56
Barclays Bank PLC 1.46 6/17/2033 USD 58.92
Sairgroup Finance BV 4.38 6/8/2006 EUR 18.50
Societe Generale SA 8.88 6/1/2017 USD 29.75
Petrol AD 8.38 1/26/2017 EUR 14.50
SeaBird Exploration Finance 6.00 3/3/2018 USD 10.00
Deutsche Bank AG/London 3.33 3/27/2035 USD 73.95
Wild Bunch AG 8.00 3/23/2019 EUR 60.00
More & More AG 8.13 6/11/2018 EUR 31.75
UniCredit Bank Austria AG 0.16 12/27/2031 EUR 65.75
IT Holding Finance SA 9.88 11/15/2012 EUR 0.11
Action SA 3.19 7/4/2017 PLN 37.49
Strenesse AG 9.00 3/15/2017 EUR 16.50
Hybrid Raising GmbH 6.63 EUR 17.50
Novo Banco SA 3.50 1/23/2043 EUR 50.88
CBo Territoria 6.00 1/1/2020 EUR 4.20
Norske Skog Holding AS 8.00 2/24/2023 USD 43.25
KPNQwest NV 10.00 3/15/2012 EUR 0.06
Barclays Bank PLC 3.38 9/29/2034 USD 69.92
Bank Nederlandse Gemeenten 0.50 6/7/2022 ZAR 61.62
Espirito Santo Financial Po 5.13 5/30/2016 EUR 0.64
Kaupthing ehf 7.63 2/28/2015 USD 17.63
Standard Chartered PLC 1.13 USD 66.19
Lloyds Bank PLC 0.75 2/22/2033 USD 54.75
Far Eastern Shipping Co PLC 13.00 11/28/2017 RUB 52.06
Lehman Brothers Treasury Co 7.25 10/5/2035 EUR 9.63
Abengoa Finance SA 7.75 2/1/2020 USD 3.23
Cooperatieve Rabobank UA 0.50 10/30/2043 MXN 10.24
Barclays Bank PLC 0.60 4/9/2028 USD 65.10
Karlie Group GmbH 5.00 6/25/2021 EUR 2.61
Norske Skog Holding AS 8.00 2/24/2023 USD 43.25
Cirio Finance Luxembourg SA 7.50 11/3/2002 EUR 4.49
Kaupthing ehf 5.75 10/4/2011 USD 17.63
Deutsche Bank AG/London 3.62 9/30/2029 USD 70.50
Artea 6.00 8/4/2019 EUR 15.66
Norske Skog Holding AS 8.00 2/24/2021 EUR 48.88
Finance and Credit Bank JSC 9.25 1/25/2019 USD 0.00
Cirio Del Monte NV 7.75 3/14/2005 EUR 0.78
Belfius Bank SA/NV 1.66 FRF 69.13
Sidetur Finance BV 10.00 4/20/2016 USD 5.25
DNB Bank ASA 1.38 USD 60.35
Koninklijke Luchtvaart Maat 0.75 CHF 36.55
Barclays Bank PLC 1.25 USD 71.11
Svensk Exportkredit AB 0.50 6/20/2029 AUD 67.84
Banco Pinto & Sotto Mayor 0.68 EUR 18.90
de Volksbank NV 6.26 EUR 0.01
DNB Bank ASA 1.19 USD 60.33
Laurel GmbH 7.13 11/16/2017 EUR 8.75
German Pellets GmbH 7.25 4/1/2016 EUR 0.75
Eidesvik Offshore ASA 5.60 5/22/2018 NOK 68.50
OGX Austria GmbH 8.38 4/1/2022 USD 0.00
Eniro AB 6.00 4/14/2020 SEK 14.34
Del Monte Finance Luxembour 6.63 5/24/2006 EUR 4.98
Assystem 4.50 EUR 30.69
Barclays Bank PLC 2.57 12/27/2028 USD 72.85
Royal Bank of Scotland PLC/ 2.62 12/30/2030 USD 67.59
Hellas Telecommunications L 8.50 10/15/2013 EUR 0.28
Manchester Building Society 8.00 GBP 24.25
Portigon AG 7.46 12/31/2019 EUR 21.50
Golden Gate AG 6.50 10/11/2014 EUR 47.75
Dexia Kommunalbank Deutschl 4.88 12/31/2016 EUR 37.00
Tatfondbank PJSC 13.50 3/21/2025 RUB 25.65
Tonon Luxembourg SA 10.50 5/14/2024 USD 40.63
Grupo Isolux Corsan Finance 6.63 4/15/2021 EUR 21.88
Standard Chartered PLC 1.56 USD 66.25
Barclays Bank PLC 4.27 5/14/2029 USD 70.00
AKB Peresvet ZAO 13.50 10/16/2020 RUB 29.26
Danske Bank Oyj 1.28 EUR 43.38
CGG SA 5.88 5/15/2020 EUR 45.88
Mox Telecom AG 7.25 11/2/2017 EUR 2.70
Kommunekredit 0.50 7/30/2027 TRY 29.51
Region of Abruzzo Italy 0.17 11/7/2036 EUR 62.83
Phones4u Finance PLC 9.50 4/1/2018 GBP 66.00
Volstad Shipping AS 7.14 4/15/2019 NOK 25.00
Sairgroup Finance BV 6.63 10/6/2010 EUR 20.00
CRC Breeze Finance SA 6.11 5/8/2026 EUR 52.38
Windreich GmbH 6.50 3/1/2015 EUR 10.88
Barclays Bank PLC 2.62 12/30/2030 USD 67.41
Barclays Bank PLC 1.14 3/21/2031 USD 68.90
Tatfondbank PJSC 14.50 2/3/2026 RUB 27.16
Alpine Holding GmbH 5.25 6/10/2016 EUR 1.65
Pescanova SA 6.75 3/5/2015 EUR 3.03
CEVA Group PLC 9.00 9/1/2021 USD 64.00
Rena GmbH 8.25 7/11/2018 EUR 8.63
KPNQwest NV 8.88 2/1/2008 EUR 0.06
Frey 6.00 11/15/2022 EUR 22.80
Barclays Bank PLC 0.96 9/30/2031 USD 67.87
MS Deutschland Beteiligungs 6.88 12/18/2017 EUR 9.32
PA Resources AB 3.00 12/27/2017 NOK 0.11
Barclays Bank PLC 2.62 12/30/2030 USD 67.46
BNP Paribas SA 0.78 4/30/2033 USD 50.09
APP International Finance C 11.75 10/1/2005 USD 0.56
Dexia Kommunalbank Deutschl 5.63 12/31/2017 EUR 13.13
OGX Austria GmbH 8.50 6/1/2018 USD 0.00
Windreich GmbH 6.50 7/15/2016 EUR 10.88
Deutsche Bank AG/London 3.65 11/26/2034 USD 65.80
Svensk Exportkredit AB 0.50 3/28/2029 AUD 69.06
Cooperatieve Rabobank UA 0.50 7/30/2043 MXN 10.33
Paragon Offshore PLC 6.75 7/15/2022 USD 18.75
Lloyds Bank PLC 1.13 USD 70.37
Far Eastern Shipping Co PLC 15.00 2/27/2018 RUB 51.75
Barclays Bank PLC 0.07 12/28/2040 EUR 67.03
Lloyds Bank PLC 1.84 7/29/2033 USD 70.00
Arpeni Pratama Ocean Line I 2.00 6/30/2021 USD 0.01
Accentro Real Estate AG 6.25 3/27/2019 EUR 7.00
KPNQwest NV 7.13 6/1/2009 EUR 0.06
Barclays Bank PLC 2.41 11/29/2030 USD 67.83
UniCredit Bank Austria AG 0.21 8/20/2033 EUR 66.78
AMATHEON AGRI 8.50 4/4/2018 EUR 72.75
CSN Resources SA 6.50 7/21/2020 USD 73.36
Activa Resources AG 8.00 11/15/2017 EUR 25.00
CHC Helicopter SA 9.25 10/15/2020 USD 47.25
IKS 5 Finance OOO 9.45 9/11/2031 RUB 60.51
Gunther Zamek Produktions-U 7.75 5/15/2017 EUR 1.55
Barclays Bank PLC 1.45 4/25/2034 USD 62.11
Dannemora Mineral AB 11.75 3/22/2016 USD 0.90
Bulgaria Steel Finance BV 12.00 5/4/2013 EUR 2.46
Bashneft PJSC 9.50 12/10/2026 RUB 60.00
SAG Solarstrom AG 6.25 12/14/2015 EUR 28.50
DEMIRE Real Estate AG 6.00 12/30/2018 EUR 3.50
Uppfinnaren 1 AB 10.00 SEK 66.13
Kamaz PJSC 11.24 7/18/2030 RUB 60.01
EFG International AG 0.63 EUR 65.00
Abengoa Finance SA 8.88 2/5/2018 EUR 4.02
Nationwide Building Society 0.90 GBP 70.00
Hellenic Republic Governmen 2.09 7/25/2057 EUR 30.00
Northland Resources AB 4.00 10/15/2020 USD 0.07
Volksbank NV 2.44 EUR 1.69
Barclays Bank PLC 2.75 2/28/2034 USD 67.16
IM Skaugen SE 10.14 4/11/2017 NOK 29.75
Santander Finance Capital S 2.00 EUR 24.38
Banco Pastor SAU 2.08 EUR 57.26
Santander Finance Capital S 2.00 EUR 24.13
Autonomous Community of Cat 2.97 9/8/2039 JPY 64.41
Region of Molise Italy 0.18 12/15/2033 EUR 65.88
QGOG Constellation SA 6.25 11/9/2019 USD 65.86
Cooperatieve Rabobank UA 0.50 10/29/2027 MXN 37.29
Novo Banco SA 3.50 3/18/2043 EUR 50.95
Bashneft PJSC 9.50 12/12/2024 RUB 60.00
DNB Bank ASA 1.38 USD 60.33
Northland Resources AB 15.00 7/15/2019 USD 0.44
International Finance Facil 0.50 6/24/2024 ZAR 48.62
Afren PLC 10.25 4/8/2019 USD 0.06
A-TEC Industries AG 5.75 11/2/2010 EUR 2.00
Banca Popolare di Vicenza 9.50 10/2/2025 EUR 37.25
Oi Brasil Holdings Cooperat 5.63 6/22/2021 EUR 32.00
Geotech Seismic Services PJ 13.00 10/16/2019 RUB 71.21
Alpine Holding GmbH 5.25 7/1/2015 EUR 1.65
Kommunekredit 0.50 2/20/2020 BRL 73.44
CGG SA 6.88 1/15/2022 USD 45.88
Svensk Exportkredit AB 0.50 4/24/2029 AUD 59.21
Lehman Brothers Treasury Co 5.10 5/8/2017 HKD 9.63
A-TEC Industries AG 8.75 10/27/2014 EUR 2.00
VistaJet Malta Finance PLC 7.75 6/1/2020 USD 65.50
Afren PLC 11.50 2/1/2016 USD 0.09
SAG Solarstrom AG 7.50 7/10/2017 EUR 28.50
Lehman Brothers Treasury Co 2.88 3/14/2013 CHF 9.25
Western Bulk Chartering AS 7.86 4/19/2019 NOK 71.00
HSBC France SA 1.03 EUR 48.00
PNE Wind AG 3.75 10/10/2019 EUR 3.05
AKB Peresvet ZAO 13.00 10/7/2017 RUB 35.00
Golden Energy Offshore Serv 5.00 12/31/2017 NOK 28.00
Bashneft PJSC 9.50 12/14/2023 RUB 60.00
UniCredit Bank Austria AG 0.18 12/31/2031 EUR 68.49
BLT Finance BV 12.00 2/10/2015 USD 10.50
Espirito Santo Financial Po 5.63 7/28/2017 EUR 0.37
Waste Italia SpA 10.50 11/15/2019 EUR 24.88
Gol LuxCo SA 8.88 1/24/2022 USD 67.43
Standard Chartered PLC 0.69 GBP 65.12
Ajecorp BV 6.50 5/14/2022 USD 51.37
Governo Portugues Consolida 3.00 EUR 73.10
Bank of Scotland PLC 1.56 USD 70.28
Municipality Finance PLC 0.50 7/30/2029 AUD 66.57
Oceanic Champion AS 8.00 2/20/2020 USD 68.44
Indo Energy Finance II BV 6.38 1/24/2023 USD 76.74
A-TEC Industries AG 2.75 5/10/2014 EUR 2.00
ADLER Real Estate AG 6.00 6/30/2017 EUR 13.50
Municipality Finance PLC 0.50 5/8/2029 AUD 62.78
Volksbank NV 6.63 5/14/2018 EUR 3.23
Banco Espirito Santo SA 6.90 6/28/2024 EUR 24.38
Bremer Landesbank Kreditans 9.50 EUR 67.55
Agroton Public Ltd 6.00 7/14/2019 USD 14.00
Svensk Exportkredit AB 0.50 6/28/2022 ZAR 59.87
Assystem 4.00 1/1/2017 EUR 25.46
ADLER Real Estate AG 6.00 12/27/2018 EUR 14.00
Abengoa Greenfield SA 5.50 10/1/2019 EUR 3.88
Societe Generale SA 1.60 1/9/2020 GBP 1.08
Kaupthing ehf 5.75 10/4/2011 USD 17.63
Lehman Brothers Treasury Co 7.00 5/17/2035 EUR 9.25
HPI AG 3.50 EUR 5.00
Anglian Water Services Fina 0.94 1/26/2057 GBP 74.98
Immigon Portfolioabbau AG 6.00 3/30/2017 EUR 59.00
DOF ASA 8.17 9/12/2019 NOK 40.00
Transcapitalbank JSC 13.00 6/6/2018 RUB 70.00
syncreon Group BV / syncreo 8.63 11/1/2021 USD 73.38
Banco Espirito Santo SA 10.00 12/6/2021 EUR 0.41
Municipality Finance PLC 0.50 4/26/2022 ZAR 60.62
Cooperatieve Rabobank UA 0.50 1/31/2033 MXN 22.32
Abengoa Finance SA 6.00 3/31/2021 EUR 3.86
Virgolino de Oliveira Finan 10.50 1/28/2018 USD 6.57
Deutsche Bank AG/London 0.58 1/31/2033 USD 54.00
Barclays Bank PLC 3.49 3/27/2029 USD 60.77
Gazprom PJSC 6.40 10/21/2043 RUB 60.06
Mriya Agro Holding PLC 9.45 4/19/2018 USD 5.13
City of Alba Iulia Romania 1.50 4/15/2025 RON 72.10
Espirito Santo Financial Gr 5.05 11/15/2025 EUR 0.38
Russian Post FGUP 9.35 9/10/2026 RUB 70.00
Republic of Italy Governmen 0.19 7/31/2045 EUR 72.42
Sparebanken Din 2.39 NOK 67.46
German Pellets GmbH 8.00 EUR 0.10
Barclays Bank PLC 0.75 4/19/2033 USD 55.15
Nuova Banca Popolare dell'E 1.68 9/28/2017 EUR 0.81
Barclays Bank PLC 6.64 3/27/2029 USD 69.43
HSBC Bank PLC 0.50 4/27/2027 NZD 60.54
AgroGeneration 8.00 4/1/2019 EUR 69.30
La Veggia Finance SPA 7.13 11/14/2004 EUR 0.15
LBI HF 2.25 2/14/2011 CHF 6.63
Takko Luxembourg 2 SCA 6.69 4/15/2019 EUR 73.00
Virgolino de Oliveira Finan 11.75 2/9/2022 USD 6.57
Lehman Brothers Treasury Co 8.25 3/16/2035 EUR 9.25
Northland Resources AB 4.00 10/15/2020 NOK 0.07
Orient Express Bank PJSC 13.60 8/9/2018 RUB 63.75
Salvator Grundbesitz-AG 9.50 12/31/2021 EUR 10.20
Aralco Finance SA 10.13 5/7/2020 USD 1.26
Solon SE 1.38 12/6/2012 EUR 0.33
Finmek International SA 7.00 12/3/2004 EUR 0.13
Algeco Scotsman Global Fina 10.75 10/15/2019 USD 70.38
Barclays Bank PLC 1.52 7/28/2034 USD 62.82
Kaupthing ehf 6.13 10/4/2016 USD 17.63
Lehman Brothers Treasury Co 6.65 8/24/2011 AUD 9.63
Vnesheconombank 11.60 2/17/2025 RUB 60.01
Deutsche ETP GmbH & Co Immo 3.00 11/30/2028 EUR
Moscow United Electric Grid 11.00 9/12/2024 RUB 61.22
Kaupthing ehf 6.13 10/4/2016 USD 17.63
Penell GmbH Elektrogroshand 7.75 6/10/2019 EUR 4.50
State Transport Leasing Co 9.00 11/24/2031 RUB 60.31
Bank Nederlandse Gemeenten 0.50 7/12/2022 ZAR 60.25
UmweltBank AG 2.85 EUR 50.62
Far East Capital Ltd SA 8.75 5/2/2020 USD 56.25
Governo Portugues Consolida 2.75 EUR 65.50
Barclays Bank PLC 2.84 10/30/2034 USD 68.72
Lehman Brothers Treasury Co 5.00 9/22/2014 EUR 9.25
Lehman Brothers Treasury Co 5.00 2/16/2015 EUR 9.25
Pongs & Zahn AG 8.50 EUR 0.34
IVG Immobilien AG 5.54 EUR 0.48
Heliocentris Energy Solutio 4.00 1/16/2019 EUR 58.09
Depfa Funding IV LP 5.03 EUR 56.88
Lehman Brothers Treasury Co 6.00 3/18/2015 USD 9.25
Kaupthing ehf 9.00 USD 0.13
KPNQwest NV 8.13 6/1/2009 USD 0.06
Bank Nederlandse Gemeenten 0.50 9/20/2022 MXN 62.05
AKB Peresvet ZAO 13.25 6/22/2017 RUB 37.06
Frigoglass Finance BV 8.25 5/15/2018 EUR 63.75
Blaker Sparebank 4.83 NOK 41.54
NIBC Bank NV 3.01 USD 72.93
Standard Chartered PLC 1.21 USD 66.33
AKB Peresvet ZAO 12.50 9/6/2017 RUB 33.04
Barclays Bank PLC 0.55 8/31/2031 USD 68.20
AKB Peresvet ZAO 13.25 4/25/2018 RUB 35.00
OAS Investments GmbH 8.25 10/19/2019 USD 4.10
Lehman Brothers Treasury Co 7.00 6/6/2017 EUR 1.21
SG Option Europe SA 7.00 5/5/2017 EUR 66.75
Lloyds Bank PLC 2.45 10/25/2033 USD 73.00
Russian Post FGUP 9.35 10/18/2019 RUB 62.00
Bashneft PJSC 9.30 10/15/2026 RUB 60.00
Heta Asset Resolution AG 0.27 12/31/2023 EUR 39.25
Royal Bank of Scotland PLC/ 2.65 2/25/2031 USD 66.00
Barclays Bank PLC 3.41 5/30/2034 USD 67.32
VEB-Leasing OAO 12.50 2/20/2025 RUB 61.16
Virgolino de Oliveira Finan 10.88 1/13/2020 USD 26.25
Santander Finance Capital S 2.00 USD 43.00
Matalan Finance PLC 8.88 6/1/2020 GBP 69.88
Veneto Banca SpA 1.69 5/15/2019 EUR 70.50
Depfa Funding II LP 6.50 EUR 56.00
Credit Suisse AG/London 10.00 6/28/2017 USD 54.50
AKB Peresvet ZAO 13.25 11/6/2020 RUB 22.02
SpareBank 1 Nordvest 3.94 3/11/2099 NOK 69.04
Mifa Mitteldeutsche Fahrrad 7.50 8/12/2018 EUR 2.67
Credit Suisse AG/London 8.00 5/21/2025 USD 9.09
Montepio Holding SGPS SA 5.00 EUR 50.10
DEIKON GmbH 1.00 7/1/2016 EUR 29.57
SAir Group 6.25 10/27/2002 CHF 12.53
Abengoa SA 5.13 3/5/2017 USD 3.21
BLT Finance BV 7.50 5/15/2014 USD 2.20
WPE International Cooperati 10.38 9/30/2020 USD 14.88
Cooperatieve Rabobank UA 0.50 11/30/2027 MXN 37.36
Vnesheconombank 9.75 8/16/2029 RUB 60.00
EFG International Finance G 2.10 3/23/2018 EUR 10.16
Landes-Hypothekenbank Steie 0.02 9/26/2043 EUR 71.99
Bank Intesa AO 9.75 10/10/2019 RUB 60.00
Novo Banco SA 3.00 12/16/2021 EUR 53.88
Lehman Brothers Treasury Co 5.55 3/12/2015 EUR 1.21
Bibby Offshore Services PLC 7.50 6/15/2021 GBP 60.50
Abengoa SA 5.13 3/5/2017 USD 3.21
Immigon Portfolioabbau AG 7.00 3/6/2021 EUR 33.50
Hypo Tirol Bank AG 0.17 7/23/2026 EUR 66.87
Petromena ASA 10.85 11/19/2014 USD 0.55
Landesbank Hessen-Thueringe 0.12 5/3/2041 EUR 62.67
Hamburgische Landesbank-Gir 0.07 1/22/2041 EUR 61.83
World of Building Technolog 7.70 6/25/2019 RUB 1.45
Lehman Brothers Treasury Co 6.00 3/14/2011 EUR 9.25
Lehman Brothers Treasury Co 1.00 5/9/2012 EUR 1.21
Lehman Brothers Treasury Co 6.00 10/30/2012 EUR 1.21
CHC Helicopter SA 9.25 10/15/2020 USD 47.25
PagesJaunes Finance & Co SC 8.88 6/1/2018 EUR 62.00
Lehman Brothers Treasury Co 3.03 1/31/2015 EUR 1.21
Espirito Santo Financial Gr 5.05 11/15/2025 EUR 0.38
Heta Asset Resolution AG 0.45 12/31/2023 EUR 39.25
SAir Group 6.25 4/12/2005 CHF 12.50
Phones4u Finance PLC 9.50 4/1/2018 GBP 66.00
Lehman Brothers Treasury Co 8.25 12/3/2015 EUR 9.25
Marine Subsea AS 9.00 12/16/2019 USD 0.50
UkrLandFarming PLC 10.88 3/26/2018 USD 29.88
SpareBank 1 SR-Bank ASA 4.00 12/21/2030 EUR 74.70
Republic of Italy Governmen 0.30 7/31/2035 EUR 74.57
Mechel PJSC 8.00 2/9/2021 RUB 70.01
Marfin Investment Group Hol 7.00 7/29/2019 EUR 1.00
MT-Energie GmbH & Co KG 8.25 4/4/2017 EUR 8.41
State of Carinthia 0.77 7/20/2017 CHF 0.20
International Finance Facil 0.50 6/29/2027 ZAR 35.04
Lehman Brothers Treasury Co 7.00 11/26/2013 EUR 9.25
Lehman Brothers Treasury Co 1.46 2/19/2012 JPY 9.25
MegaFon PJSC 9.90 5/29/2026 RUB 62.00
Oberoesterreichische Landes 0.30 4/25/2042 EUR 52.88
Lehman Brothers Treasury Co 11.00 12/20/2017 AUD 1.21
Lehman Brothers Treasury Co 4.50 5/2/2017 EUR 9.25
Lehman Brothers Treasury Co 4.00 12/2/2012 EUR 1.21
UBS AG/London 14.50 5/26/2017 CHF 67.50
Lehman Brothers Treasury Co 5.25 5/26/2026 EUR 1.21
Lehman Brothers Treasury Co 4.00 10/24/2012 EUR 1.21
AKB Peresvet ZAO 9.80 9/2/2020 RUB 25.35
Bank Nederlandse Gemeenten 0.50 8/9/2022 MXN 62.69
Barclays Bank PLC 0.50 2/6/2024 AUD 73.80
Solarwatt GmbH 7.00 11/1/2015 EUR 14.50
NIBC Bank NV 3.01 USD 72.93
Societe Generale SA 0.53 6/28/2033 USD 72.10
State Transport Leasing Co 9.20 9/5/2031 RUB 60.10
Far East Capital Ltd SA 8.00 5/2/2018 USD 55.54
Lehman Brothers Treasury Co 5.00 2/27/2014 EUR 9.25
Abengoa SA 6.25 1/17/2019 EUR 2.64
Landesbank Hessen-Thueringe 0.13 4/23/2041 EUR 65.56
Lehman Brothers Treasury Co 4.00 2/16/2017 EUR 9.25
AKB Peresvet ZAO 12.75 7/24/2018 RUB 33.10
Bulgaria Steel Finance BV 12.00 5/4/2013 EUR 2.46
Svensk Exportkredit AB 0.50 6/29/2029 AUD 58.94
Minaya Capital AG 7.00 8/1/2018 EUR 66.00
SG Issuer SA 5.05 4/10/2025 EUR 55.56
Raiffeisen Centrobank AG 6.70 3/13/2017 EUR 59.86
Lehman Brothers Treasury Co 10.00 8/2/2037 JPY 1.21
Raiffeisen Versicherung AG 5.08 EUR 26.31
Aldesa Financial Services S 7.25 4/1/2021 EUR 67.75
Marfin Investment Group Hol 6.30 7/29/2020 EUR 0.85
Finans-Avia OOO 0.01 7/31/2027 RUB 18.90
Province of Milan Italy 0.07 12/22/2033 EUR 68.66
Kommunalbanken AS 0.50 5/27/2022 ZAR 61.99
LBI HF 6.10 8/25/2011 USD 11.13
UniCredit Bank Austria AG 0.04 1/25/2031 EUR 68.52
UniCredit Bank AO 9.00 8/6/2019 RUB 60.00
Atari SA 7.50 2/17/2020 EUR 0.33
Gazprombank JSC 10.90 2/19/2021 RUB 60.00
Lehman Brothers Treasury Co 7.60 5/21/2013 USD 1.21
Hamburgische Landesbank-Gir 0.07 10/30/2040 EUR 64.16
SAir Group 0.13 7/7/2005 CHF 12.50
BNP Paribas SA 0.50 9/29/2029 AUD 54.78
Societe Generale SA 1.00 12/22/2017 GBP 1.00
Mechel PJSC 8.00 2/9/2021 RUB 60.01
Muehl Product & Service AG 6.75 3/10/2005 DEM 2.41
Lehman Brothers Treasury Co 4.00 4/13/2011 CHF 1.21
Banca Nazionale del Lavoro 1.68 6/15/2037 EUR 74.76
wige MEDIA AG 6.00 3/17/2019 EUR 2.33
Banco Comercial Portugues S 5.00 EUR 50.00
Salvator Grundbesitz-AG 9.50 EUR 21.00
HSBC Bank PLC 0.50 10/30/2026 NZD 62.13
Finans-Avia OOO 8.25 7/31/2022 RUB 65.39
Lehman Brothers Treasury Co 5.00 5/12/2011 CHF 1.21
Svensk Exportkredit AB 0.50 12/17/2027 USD 74.22
Lloyds Bank PLC 3.00 7/26/2033 USD 69.65
Western High-Speed Diameter 9.15 2/6/2032 RUB 60.01
Metalloinvest Holding Co OA 0.01 3/10/2022 RUB 60.00
BNP Paribas SA 0.50 5/6/2021 MXN 70.90
Russian Post FGUP 2.75 12/6/2023 RUB 67.03
Landes-Hypothekenbank Steie 0.10 3/7/2043 EUR 72.99
Lehman Brothers Treasury Co 11.75 3/1/2010 EUR 1.21
SAir Group 4.25 2/2/2007 CHF 12.50
Lehman Brothers Treasury Co 5.50 7/8/2013 EUR 1.21
Kaupthing ehf 5.25 7/18/2017 BGN 17.63
Lehman Brothers Treasury Co 5.00 5/2/2022 EUR 1.21
Bayerische Landesbank 2.60 3/29/2018 EUR 70.28
SAir Group 2.13 11/4/2004 CHF 12.50
Svensk Exportkredit AB 0.50 8/29/2029 AUD 58.39
Russian Railways JSC 6.40 6/8/2028 RUB 60.00
Nuova Banca Popolare dell'E 3.50 6/28/2018 EUR 0.78
Banco Espirito Santo SA 1.24 5/27/2018 EUR 0.49
Barclays Bank PLC 9.00 6/16/2017 USD
Miratorg-Finans OOO 11.00 8/24/2021 RUB 60.00
OOO SPV Structural Investme 0.01 9/1/2023 RUB 65.00
International Finance Facil 0.50 6/29/2020 ZAR 72.91
Atari SA 0.10 4/1/2020 EUR 3.88
Johnston Press Bond Plc 8.63 6/1/2019 GBP 62.75
Lehman Brothers Treasury Co 8.00 3/19/2012 USD 1.21
Bank Nederlandse Gemeenten 0.50 6/22/2021 ZAR 66.63
Credit Agricole Corporate & 0.50 3/6/2023 RUB 62.13
Ekotechnika AG 9.75 5/10/2018 EUR 9.50
Western High-Speed Diameter 9.15 2/6/2032 RUB 60.01
Lehman Brothers Treasury Co 4.00 7/27/2011 EUR 1.21
UBS AG/London 3.50 3/24/2017 EUR 74.23
Norddeutsche Landesbank Gir 3.00 7/16/2018 EUR 70.63
Ideal Standard Internationa 11.75 5/1/2018 EUR 11.88
Raiffeisenbank AO 0.01 10/29/2018 RUB 72.01
WGF Westfaelische Grundbesi 6.35 8/1/2017 EUR 3.63
Gazprom PJSC 6.40 10/21/2043 RUB 60.06
Brighthouse Group PLC 7.88 5/15/2018 GBP 68.88
Lehman Brothers Treasury Co 6.00 10/24/2008 EUR 1.21
Barclays Bank PLC 2.24 8/15/2033 USD 62.08
Agrokompleks OOO 0.10 12/8/2022 RUB 1.00
Banca delle Marche SpA 6.00 6/12/2018 EUR 1.00
Abengoa Finance SA 7.00 4/15/2020 EUR 3.80
Western High-Speed Diameter 9.15 2/6/2032 RUB 57.02
Barclays Bank PLC 2.50 3/7/2017 EUR 49.71
Kamaz PJSC 10.39 12/5/2030 RUB 60.01
Eiendomskreditt 4.48 NOK 58.60
Holdikks SAS 6.75 7/15/2021 EUR 71.38
Mechel PJSC 12.50 7/15/2021 RUB 72.00
Astana Finance BV 9.00 11/16/2011 USD 16.88
HSBC Bank PLC 0.50 12/29/2026 AUD 62.09
Societe Generale SA 10.00 7/31/2018 USD 74.98
Argon Capital PLC for Royal 2.70 GBP 70.25
Immigon Portfolioabbau AG 3.51 4/12/2022 EUR 15.00
RGS Nedvizhimost OOO 12.50 6/21/2021 RUB 60.03
AKB Peresvet ZAO 13.50 6/23/2021 RUB 27.02
Lloyds Bank PLC 0.50 7/26/2021 BRL 62.22
HSBC Bank PLC 0.50 12/22/2025 BRL 45.20
Steiermaerkische Bank und S 1.25 EUR 51.05
DekaBank Deutsche Girozentr 0.01 6/29/2046 EUR 55.17
Barclays Bank PLC 0.50 3/26/2021 MXN 67.84
Dolomite Capital Ltd 13.26 12/20/2019 ZAR 64.80
Vegarshei Sparebank 5.10 NOK 61.86
Oberoesterreichische Landes 0.32 11/6/2030 EUR 67.88
BNP Paribas SA 0.50 2/13/2024 NZD 72.04
Zapsibcombank PAO 14.85 12/12/2019 RUB 50.00
Lehman Brothers Treasury Co 7.50 10/24/2008 USD 1.21
Lehman Brothers Treasury Co 4.50 3/6/2013 CHF 1.21
Svensk Exportkredit AB 0.50 8/28/2020 TRY 65.29
Tonon Luxembourg SA 7.25 1/24/2020 USD 11.13
Lehman Brothers Treasury Co 6.00 9/20/2011 EUR 1.21
Russian Railways JSC 7.10 11/29/2028 RUB 60.00
Nuova Banca delle Marche Sp 7.75 6/30/2018 EUR 1.24
City of Kiev Ukraine Via CS 8.00 11/6/2015 USD 70.38
Lehman Brothers Treasury Co 11.00 12/19/2011 USD 1.21
Province of Brescia Italy 0.11 12/22/2036 EUR 63.31
Rosbank PJSC 0.01 2/26/2024 RUB 70.00
Phosphorus Holdco PLC 10.00 4/1/2019 GBP 3.29
Russian Bank for Small and 14.00 3/17/2022 RUB 61.02
Russian Railways JSC 13.90 5/30/2040 RUB 65.00
Deutsche Bank AG/London 1.52 9/2/2036 JPY 68.15
Deutsche Bank AG/London 0.50 10/5/2021 IDR 60.00
Svensk Exportkredit AB 0.50 1/31/2022 ZAR 63.37
Afren PLC 10.25 4/8/2019 USD 0.07
Metalloinvest Holding Co OA 0.01 3/7/2022 RUB 60.01
RGS Nedvizhimost OOO 13.50 1/19/2021 RUB 60.03
UniCredit Bank AO 12.00 11/20/2019 RUB 60.11
City of Siret Romania 2.24 3/1/2028 RON 51.00
Podkarpacki Bank Spoldzielc 5.81 7/2/2020 PLN 57.90
Nuova Banca Popolare dell'E 5.00 10/30/2023 EUR 0.78
Pierer Industrie AG 5.75 EUR 52.50
Cerruti Finance SA 6.50 7/26/2004 EUR 1.29
Evrofinansy-Nedvizhimost OO 11.00 10/23/2020 RUB 60.13
Bank Julius Baer & Co Ltd/G 23.00 8/4/2017 USD 74.20
Immigon Portfolioabbau AG 8.69 7/26/2025 EUR 15.00
Credit Europe Bank Ltd 11.00 4/6/2018 RUB 60.11
Bilt Paper BV 9.64 USD 49.38
Orient Express Bank PJSC 11.70 7/17/2018 RUB 70.01
Alpha Bank AE 2.50 6/20/2022 EUR 67.83
Alpha Bank AE 2.50 6/20/2022 EUR 67.85
LBI HF 7.43 USD 0.00
ECM Real Estate Investments 5.00 10/9/2011 EUR 10.38
Driver & Bengsch AG 8.50 12/31/2027 EUR 0.00
UBS AG 11.75 12/22/2017 EUR 44.59
Delta-Finance OOO 10.00 1/19/2021 RUB
Lillestroem Sparebank 4.63 NOK 52.19
Societe Generale SA 0.50 5/30/2023 MXN 57.56
HSBC Bank PLC 0.50 6/10/2021 BRL 66.99
Immigon Portfolioabbau AG 8.69 7/26/2020 EUR 15.00
Pravourmiyskoe OOO 9.00 12/26/2019 RUB 60.01
Barclays Bank PLC 0.50 3/13/2023 RUB 62.14
Lehman Brothers Treasury Co 7.00 10/22/2010 EUR 1.21
Lehman Brothers Treasury Co 8.00 3/21/2018 USD 1.21
Nutritek International Corp 8.75 12/11/2008 USD 2.00
Realwerte GmBh & Co KG 1.20 EUR 42.86
UniCredit Bank AO 9.00 5/17/2019 RUB 60.03
Mriya Agro Holding PLC 10.95 3/30/2016 USD 4.95
Dresdner Bank AG 0.38 11/19/2029 EUR 65.38
SG Issuer SA 0.78 6/15/2020 SEK 70.92
Northland Resources AB 12.25 3/26/2016 USD 0.44
Russian Railways JSC 7.10 4/29/2043 RUB 60.00
Lehman Brothers Treasury Co 23.30 9/16/2008 USD 1.21
BAWAG PSK Versicherungs AG 1.06 EUR 46.49
Kaupthing ehf 9.75 9/10/2015 USD 17.63
Lehman Brothers Treasury Co 8.00 2/16/2016 EUR 1.21
Rinol AG 5.50 10/15/2006 DEM 0.00
Lehman Brothers Treasury Co 3.50 12/20/2027 USD 1.21
BLT Finance BV 7.50 5/15/2014 USD 2.20
Credit Suisse AG/London 9.50 11/15/2019 USD 5.23
Stroytemp CJSC 9.00 11/13/2019 RUB 0.01
Russian Railways JSC 7.40 9/20/2039 RUB 60.00
Mortgage Agent AHML 10-1 9.00 11/20/2042 RUB 60.01
Province of Rovigo Italy 0.06 12/28/2035 EUR 65.05
Province of Brescia Italy 0.14 6/30/2036 EUR 64.27
Indre Sogn Sparebank 5.98 NOK 62.02
ENEL RUSSIA PJSC 12.10 5/22/2025 RUB 60.00
SAir Group 5.13 3/1/2003 CHF 13.00
Podkarpacki Bank Spoldzielc 4.99 10/6/2021 PLN 54.00
Elli Investments Ltd 12.25 6/15/2020 GBP 45.13
Bank Julius Baer & Co Ltd/G 14.40 11/2/2017 CHF 66.95
Union Technologies Informat 0.10 1/1/2020 EUR
Lehman Brothers Treasury Co 8.80 12/27/2009 EUR 1.21
Gold-Zack AG 7.00 12/14/2005 EUR 12.56
UniCredit Bank AG 4.00 3/21/2017 EUR 65.17
Notenstein Finance Guernsey 1.00 9/17/2019 CHF 62.98
Promnefteservis OOO 10.50 11/21/2019 RUB 1.05
Bayerische Landesbank 2.40 7/20/2018 EUR 72.05
Lehman Brothers Treasury Co 5.00 10/24/2008 CHF 1.21
Lehman Brothers Treasury Co 1.75 2/7/2010 EUR 1.21
Russian Railways JSC 8.20 8/18/2033 RUB 60.00
KPNQwest NV 7.13 6/1/2009 EUR 0.06
Lehman Brothers Treasury Co 6.00 2/19/2023 USD 1.21
Lehman Brothers Treasury Co 8.88 1/28/2011 HKD 9.63
UniCredit Bank Austria AG 0.20 1/22/2031 EUR 70.19
City of Hunedoara Romania 1.43 8/15/2026 RON 70.10
Lehman Brothers Treasury Co 9.75 6/22/2018 USD 1.21
Lehman Brothers Treasury Co 0.50 7/2/2020 EUR 1.21
UBS AG 4.75 12/22/2017 EUR 57.75
Biomed-Lublin Wytwornia Sur 7.29 8/14/2018 PLN 75.00
Lehman Brothers Treasury Co 7.50 7/31/2013 GBP 1.21
Svensk Exportkredit AB 0.10 11/20/2019 TRY 70.54
City of Predeal Romania 1.50 5/15/2026 RON 60.00
Enemona AD-Kozloduy 10.00 4/28/2017 BGN 0.06
Lehman Brothers Treasury Co 5.00 2/28/2032 EUR 1.21
City of Moscow Russia 7.50 5/18/2021 RUB 60.00
Municipiul Timisoara 0.64 5/15/2026 RON 64.20
SAir Group 5.50 7/23/2003 CHF 12.50
ECA 2.50 1/1/2018 EUR 11.21
Agrokompleks OOO 0.10 7/29/2019 RUB 2.71
Drangedal Sparebank 2.36 NOK 65.99
Lehman Brothers Treasury Co 16.20 5/14/2009 USD 1.21
International Industrial Ba 9.00 7/6/2011 EUR 0.49
Cattles Ltd 7.13 7/5/2017 GBP 1.05
SAir Group 2.75 7/30/2004 CHF 12.50
Norddeutsche Landesbank Gir 3.00 10/30/2018 EUR 67.06
Credit Suisse AG/London 0.50 1/8/2026 BRL 40.23
Bayerische Landesbank 2.70 7/13/2018 EUR 71.64
Lehman Brothers Treasury Co 8.60 7/31/2013 GBP 1.21
Lehman Brothers Treasury Co 3.86 9/21/2011 SGD 9.63
Lehman Brothers Treasury Co 7.38 9/20/2008 EUR 1.21
Sidetur Finance BV 10.00 4/20/2016 USD 5.25
Credit Suisse AG 0.50 12/16/2025 BRL 41.39
Societe Generale SA 0.50 7/31/2020 MXN 74.66
Lehman Brothers Treasury Co 2.00 6/28/2011 EUR 1.21
Leonteq Securities AG 16.40 2/6/2017 CHF 36.56
Raiffeisen Centrobank AG 9.50 7/13/2017 EUR 66.11
UBS AG/London 5.75 6/6/2017 CHF 74.70
Russian Railways JSC 6.80 5/20/2044 RUB 65.00
Lehman Brothers Treasury Co 7.32 7/31/2013 GBP 1.21
Lehman Brothers Treasury Co 1.28 11/6/2010 JPY 9.25
Hypocredit AD 7.50 12/18/2017 EUR 40.00
Fonciere Volta SA 4.50 7/30/2020 EUR 2.61
Lehman Brothers Treasury Co 7.50 5/2/2017 EUR 1.21
Barclays Bank PLC 0.50 1/28/2033 MXN 20.50
HSBC Bank PLC 0.50 5/29/2020 IDR 73.16
Reserve Trust Co CJSC 11.00 1/4/2027 RUB 0.01
Metalloinvest Holding Co OA 0.01 3/7/2022 RUB 65.00
Strommen Sparebank 2.36 NOK 37.91
Lehman Brothers Treasury Co 4.00 1/4/2011 USD 1.21
Astana Finance BV 7.88 6/8/2010 EUR 16.88
DekaBank Deutsche Girozentr 3.00 5/4/2018 EUR 66.43
Landesbank Baden-Wuerttembe 4.20 6/23/2017 EUR 59.84
SAir Group 2.75 7/30/2004 CHF 12.50
RGS Nedvizhimost OOO 12.50 7/22/2021 RUB 60.03
Vontobel Financial Products 5.00 2/13/2017 EUR 62.19
Vnesheconombank 2.00 6/18/2021 RUB 72.35
Lehman Brothers Treasury Co 7.25 10/6/2008 EUR 1.21
Lehman Brothers Treasury Co 4.60 7/6/2016 EUR 1.21
Main Road OJSC 5.40 11/22/2028 RUB 63.23
Svensk Exportkredit AB 0.50 3/15/2022 ZAR 61.33
Windreich GmbH 6.25 3/1/2015 EUR 10.88
UBS AG/London 8.00 7/10/2017 CHF 72.65
Vnesheconombank 11.50 8/20/2020 RUB 60.51
Municipality Finance PLC 0.50 6/19/2024 ZAR 50.16
Russian Railways JSC 6.40 2/28/2040 RUB 65.00
Bayerische Landesbank 2.70 7/6/2018 EUR 68.16
UBS AG/London 12.50 1/3/2017 CHF 36.15
Lehman Brothers Treasury Co 4.00 8/11/2010 USD 9.25
Municipiul Timisoara 0.64 5/12/2026 RON 75.00
Lehman Brothers Treasury Co 4.60 10/11/2017 ILS 9.25
Landesbank Hessen-Thueringe 5.00 10/17/2017 EUR 67.07
Credit Suisse AG/London 8.95 6/6/2017 USD 71.08
Bayerische Landesbank 2.70 7/20/2018 EUR 71.86
UBS AG/London 7.00 7/3/2017 CHF 67.95
LZMO SA 8.50 6/30/2017 PLN 25.00
Leonteq Securities AG/Guern 29.61 10/26/2017 EUR 22.00
Lehman Brothers Treasury Co 8.28 7/31/2013 GBP 1.21
HSH Nordbank AG 7.25 USD 23.02
Immigon Portfolioabbau AG 1.31 7/29/2018 EUR 2.00
Lehman Brothers Treasury Co 4.25 3/13/2021 EUR 1.21
Lehman Brothers Treasury Co 2.50 12/15/2011 GBP 1.21
OT-Optima Telekom DD 5.25 5/30/2022 HRK 65.00
Lehman Brothers Treasury Co 14.90 9/15/2008 EUR 1.21
Lehman Brothers Treasury Co 5.25 11/21/2009 USD 1.21
Zapsibcombank PAO 5.00 9/4/2017 RUB 60.00
Novo Banco SA 5.00 4/23/2019 EUR 68.09
URALSIB Leasing Co OOO 10.50 4/17/2018 RUB 0.01
Windreich GmbH 6.75 3/1/2015 EUR 10.88
BANIF - Banco Internacional 4.50 1/30/2025 EUR 65.25
Bayerische Landesbank 2.70 7/6/2018 EUR 67.31
Credit Suisse AG/Nassau 4.25 4/24/2017 CHF 73.51
Emova Group 4.30 5/2/2022 EUR 4.72
Lehman Brothers Treasury Co 10.44 11/22/2008 CHF 1.21
Lehman Brothers Treasury Co 13.50 11/28/2008 USD 1.21
COFIDUR SA 0.10 12/31/2024 EUR 19.00
Bank Julius Baer & Co Ltd/G 10.90 7/26/2017 CHF 62.80
EFG International Finance G 6.48 5/29/2018 EUR 10.35
HSBC Bank PLC 0.50 7/21/2021 BRL 66.11
Bank Julius Baer & Co Ltd/G 9.40 2/9/2017 CHF 29.05
DekaBank Deutsche Girozentr 0.12 6/23/2034 EUR 72.55
Bayerische Landesbank 3.20 7/27/2018 EUR 69.15
Bayerische Landesbank 2.70 7/27/2018 EUR 72.65
Bayerische Landesbank 2.90 6/22/2018 EUR 71.09
Bayerische Landesbank 2.70 6/22/2018 EUR 73.06
Societe Generale SA 0.50 7/6/2021 BRL 63.85
Lehman Brothers Treasury Co 6.50 5/16/2015 EUR 1.21
Lehman Brothers Treasury Co 2.00 6/21/2011 EUR 1.21
Lehman Brothers Treasury Co 6.00 5/12/2017 EUR 1.21
Nuova Banca delle Marche Sp 8.00 6/30/2018 EUR 1.24
Russian Railways JSC 6.40 9/19/2033 RUB 60.00
EDOB Abwicklungs AG 7.50 4/1/2012 EUR 0.25
Credit Suisse AG/London 7.80 7/16/2025 USD 9.22
Bayerische Landesbank 2.60 8/24/2018 EUR 69.86
Bayerische Landesbank 3.00 10/5/2018 EUR 75.00
Leonteq Securities AG/Guern 4.40 8/28/2017 CHF 60.92
Lehman Brothers Treasury Co 10.00 6/17/2009 USD 1.21
Lehman Brothers Treasury Co 8.00 10/17/2014 EUR 1.21
Lehman Brothers Treasury Co 6.30 12/21/2018 USD 1.21
Kaupthing ehf 7.63 2/28/2015 USD 17.63
KPNQwest NV 8.88 2/1/2008 EUR 0.06
Lehman Brothers Treasury Co 15.00 6/4/2009 CHF 1.21
Lehman Brothers Treasury Co 0.25 10/19/2012 CHF 1.21
BNP Paribas Emissions- und 27.00 3/23/2017 EUR 73.51
Immigon Portfolioabbau AG 5.05 8/5/2030 EUR 72.38
Kommunekredit 0.50 12/14/2020 ZAR 71.17
Oravita City Council 1.97 6/15/2027 RON 75.00
Russian Railways JSC 7.40 10/11/2038 RUB 60.00
Societe Generale SA 0.50 6/12/2023 RUB 60.75
Municipiul Timisoara 0.64 5/15/2026 RON 60.87
BNP Paribas SA 0.50 7/20/2021 BRL 62.78
Societe Generale SA 0.50 5/22/2024 MXN 52.04
AKB Derzhava OJSC 11.50 7/10/2023 RUB 60.01
HSBC Bank PLC 0.50 4/11/2023 MXN 58.35
Societe Generale SA 0.50 4/3/2023 RUB 61.89
UBS AG/London 11.00 2/24/2017 CHF 47.35
Exane Finance 5.00 12/20/2019 SEK 64.40
Credit Suisse AG/Nassau 7.90 2/27/2017 CHF 70.82
Bank Julius Baer & Co Ltd/G 6.50 3/6/2017 CHF 72.95
Commerzbank AG 8.00 7/14/2021 USD
Lehman Brothers Treasury Co 5.00 11/22/2012 EUR 1.21
Lehman Brothers Treasury Co 6.25 9/5/2011 EUR 1.21
LBI HF 7.43 USD 0.00
Lehman Brothers Treasury Co 4.00 3/10/2011 EUR 1.21
Lehman Brothers Treasury Co 7.15 3/21/2013 USD 1.21
LBI HF 8.65 5/1/2011 ISK 6.63
Nuova Banca Popolare dell'E 2.19 5/21/2018 EUR 0.81
Lehman Brothers Treasury Co 4.87 10/8/2013 USD 1.21
Lehman Brothers Treasury Co 6.00 8/7/2013 EUR 1.21
Lehman Brothers Treasury Co 7.39 5/4/2017 USD 1.21
Lehman Brothers Treasury Co 4.10 6/10/2014 SGD 9.63
UBS AG 5.25 12/22/2017 EUR 64.29
Credit Suisse AG/London 8.20 10/22/2025 USD 9.32
EFG International Finance G 7.00 11/27/2019 EUR 29.14
Bank Julius Baer & Co Ltd/G 12.15 11/8/2017 CHF 67.95
Lehman Brothers Treasury Co 3.40 3/19/2018 JPY 1.21
Bank Nederlandse Gemeenten 0.50 5/12/2021 ZAR 68.29
Raiffeisen-Landesbank Tirol 2.50 9/2/2024 EUR 72.55
Nuova Banca delle Marche Sp 7.20 6/30/2018 EUR 1.24
Kreditanstalt fuer Wiederau 0.25 10/6/2036 CAD 40.65
Lehman Brothers Treasury Co 8.25 2/3/2016 EUR 1.21
Kaupthing ehf 7.50 2/1/2045 USD 0.00
Lehman Brothers Treasury Co 7.00 4/14/2009 EUR 1.21
HSBC Bank PLC 0.50 11/25/2025 BRL 45.49
Kommunalbanken AS 0.50 12/16/2020 TRY 68.86
Barclays Bank PLC 0.79 5/10/2028 USD 65.32
Lehman Brothers Treasury Co 4.82 12/18/2036 EUR 1.21
Banca delle Marche SpA 6.00 5/8/2018 EUR 1.00
Northland Resources AB 15.00 7/15/2019 USD 0.44
Oi Brasil Holdings Cooperat 5.63 6/22/2021 EUR 31.52
UBS AG/London 15.50 11/30/2017 CHF 72.25
Leonteq Securities AG 11.00 1/9/2017 EUR 64.85
HSBC Bank PLC 0.50 12/8/2026 AUD 67.01
Credit Suisse AG/London 7.80 7/31/2020 USD 9.33
BNP Paribas SA 0.50 11/16/2032 MXN 28.92
Russian Railways JSC 13.90 2/28/2040 RUB 65.00
Leonteq Securities AG 3.50 4/10/2018 EUR 57.85
Rosselkhozbank JSC 12.87 12/21/2021 RUB 65.00
Kaupthing ehf 3.75 2/15/2024 ISK 17.63
UniCredit Bank Austria AG 0.08 1/24/2031 EUR 68.96
Lehman Brothers Treasury Co 5.00 8/16/2017 EUR 10.00
SG Issuer SA 6.65 10/10/2021 EUR 63.80
Leonteq Securities AG 10.00 2/6/2017 CHF 63.16
UBS AG/London 11.00 1/27/2017 CHF 29.40
Landesbank Baden-Wuerttembe 3.90 9/22/2017 EUR 40.48
Zurcher Kantonalbank Financ 13.04 4/13/2017 CHF 52.60
Mortgage Agent First St Pet 8.50 7/15/2041 RUB 59.30
Municipality Finance PLC 0.50 11/25/2020 ZAR 69.59
Main Road OJSC 5.40 10/30/2028 RUB 56.01
Bank Julius Baer & Co Ltd/G 10.25 5/17/2017 CHF 54.90
Landeskreditbank Baden-Wuer 0.50 5/10/2027 CAD 74.98
Lehman Brothers Treasury Co 5.00 3/18/2015 EUR 9.25
Lehman Brothers Treasury Co 8.50 7/6/2009 CHF 1.21
Lehman Brothers Treasury Co 4.35 8/8/2016 SGD 9.63
Kaupthing ehf 5.00 1/4/2027 SKK 17.63
Center-Invest Commercial Ba 8.70 11/13/2018 RUB 60.01
Bank Julius Baer & Co Ltd/G 11.30 6/7/2017 CHF 59.25
EFG International Finance G 6.00 11/30/2017 EUR 8.99
Cooperatieve Rabobank UA 0.50 12/29/2027 MXN 37.24
Zurcher Kantonalbank Financ 12.10 9/6/2017 CHF 66.93
Barclays Bank PLC 1.61 7/24/2028 USD 73.21
Cooperatieve Rabobank UA 0.50 8/21/2028 MXN 34.85
Vnesheconombank 8.35 11/24/2020 RUB 60.01
Barclays Bank PLC 0.50 4/24/2023 MXN 53.58
Barclays Bank PLC 0.50 3/19/2021 MXN 67.87
HSBC Bank PLC 5.05 5/15/2025 MXN 74.18
Deutsche Bank AG/London 1.20 8/22/2031 JPY 73.04
HSBC Bank PLC 0.50 1/29/2027 NZD 61.12
HSBC Bank PLC 0.50 2/24/2027 NZD 61.16
Svensk Exportkredit AB 0.50 2/22/2022 ZAR 62.02
UBS AG/London 9.50 9/4/2017 CHF 21.25
Goldman Sachs & Co Wertpapi 11.00 12/20/2017 EUR 71.34
Bank Julius Baer & Co Ltd/G 11.60 1/5/2017 CHF 23.50
ECM Real Estate Investments 5.00 10/9/2011 EUR 10.38
Lehman Brothers Treasury Co 6.75 4/5/2012 EUR 1.21
Landesbank Hessen-Thueringe 4.50 11/28/2017 EUR 67.26
UBS AG 11.75 12/22/2017 EUR 48.16
BNP Paribas Emissions- und 28.00 12/21/2017 EUR 72.12
BNP Paribas Emissions- und 19.00 12/21/2017 EUR 74.24
BNP Paribas Emissions- und 27.00 12/21/2017 EUR 53.27
BNP Paribas Emissions- und 19.00 3/23/2017 EUR 72.91
BNP Paribas Emissions- und 22.00 12/21/2017 EUR 64.95
BNP Paribas Emissions- und 15.00 12/21/2017 EUR 67.59
BNP Paribas Emissions- und 25.00 12/21/2017 EUR 65.58
Societe Generale Effekten G 9.62 6/23/2017 EUR 55.95
UBS AG/London 7.50 2/10/2017 EUR 73.34
HSBC Trinkaus & Burkhardt A 7.10 3/24/2017 EUR 64.12
Polski Bank Spoldzielczy w 4.81 6/18/2020 PLN 36.01
Center-Invest Commercial Ba 10.00 5/22/2019 RUB 60.11
Lehman Brothers Treasury Co 5.10 6/22/2046 EUR 1.21
Totens Sparebank 2.75 NOK 69.84
City of Alba Iulia Romania 1.50 4/15/2025 RON 68.30
City of Hunedoara Romania 1.43 8/15/2026 RON 70.30
UBS AG/London 8.40 8/11/2017 EUR 75.00
HSBC Trinkaus & Burkhardt A 5.50 1/31/2017 EUR 69.57
Commerzbank AG 8.75 6/22/2017 EUR 73.09
Commerzbank AG 12.25 6/22/2017 EUR 68.26
Commerzbank AG 16.00 6/22/2017 EUR 64.32
Commerzbank AG 13.75 2/23/2017 EUR 74.03
UBS AG/London 9.50 12/22/2017 EUR 62.87
UBS AG/London 5.75 12/22/2017 EUR 72.17
UBS AG/London 5.00 12/22/2017 EUR 62.68
UBS AG/London 6.25 12/22/2017 EUR 70.55
UniCredit Bank AG 4.25 9/12/2017 EUR 59.14
Notenstein La Roche Private 5.00 8/29/2018 CHF 65.12
Notenstein La Roche Private 5.00 9/5/2018 CHF 67.62
DZ Bank AG Deutsche Zentral 5.60 3/30/2017 EUR 37.58
DekaBank Deutsche Girozentr 3.05 2/25/2019 EUR 73.82
Vontobel Financial Products 5.35 3/3/2017 EUR 59.66
Vontobel Financial Products 5.40 3/3/2017 EUR 69.72
EFG International Finance G 8.99 9/4/2017 EUR 15.85
Landesbank Hessen-Thueringe 4.00 4/8/2019 EUR 65.03
Leonteq Securities AG 5.25 3/19/2018 CHF 72.96
Notenstein La Roche Private 6.50 3/13/2017 EUR 51.92
UniCredit Bank AG 4.60 7/2/2018 EUR 62.29
Raiffeisen Centrobank AG 6.88 3/30/2017 EUR 61.61
Notenstein La Roche Private 5.00 3/20/2017 CHF 74.83
Leonteq Securities AG 7.00 9/20/2017 CHF 65.50
Commerzbank AG 7.20 3/9/2017 EUR 74.62
Credit Suisse AG/Nassau 5.00 3/27/2017 CHF 73.15
DekaBank Deutsche Girozentr 3.75 3/10/2017 EUR 48.42
UBS AG/London 5.00 3/20/2017 CHF 74.90
DekaBank Deutsche Girozentr 3.15 2/3/2017 EUR 58.14
Bayerische Landesbank 2.60 10/19/2018 EUR 65.83
Notenstein La Roche Private 4.50 3/27/2018 EUR 58.59
Notenstein La Roche Private 5.50 3/27/2017 CHF 74.72
Notenstein La Roche Private 5.00 3/27/2019 CHF 73.35
Landesbank Hessen-Thueringe 5.00 4/24/2019 EUR 62.04
Landesbank Hessen-Thueringe 6.20 7/24/2020 EUR 73.41
DekaBank Deutsche Girozentr 2.70 3/16/2018 EUR 69.69
UBS AG/London 5.50 3/27/2017 CHF 74.15
Landesbank Hessen-Thueringe 4.00 4/30/2019 EUR 71.38
Leonteq Securities AG 3.00 10/2/2017 CHF 74.23
Notenstein La Roche Private 4.80 10/24/2018 CHF 74.97
Notenstein La Roche Private 4.20 4/10/2018 EUR 61.36
Notenstein Finance Guernsey 9.00 4/1/2019 EUR 35.91
DekaBank Deutsche Girozentr 2.50 3/31/2017 EUR 68.69
Notenstein La Roche Private 5.70 4/20/2017 CHF 73.49
Notenstein La Roche Private 4.80 4/20/2017 CHF 72.12
Zurcher Kantonalbank Financ 6.50 4/10/2018 CHF 63.10
UBS AG/London 6.25 4/18/2017 CHF 73.00
Leonteq Securities AG 5.60 4/24/2017 CHF 73.29
Leonteq Securities AG 7.20 4/24/2017 EUR 59.99
Notenstein La Roche Private 6.50 7/2/2018 USD 60.91
UBS AG 9.00 7/3/2017 CHF 66.90
EFG International Finance G 5.00 8/15/2017 CHF 66.64
Leonteq Securities AG 20.00 10/25/2017 CHF 67.38
Leonteq Securities AG 17.00 8/17/2017 CHF 72.83
HSBC Trinkaus & Burkhardt A 4.00 6/16/2017 EUR 65.52
Vontobel Financial Products 4.00 11/9/2017 EUR 67.67
HSBC Trinkaus & Burkhardt A 9.20 6/23/2017 EUR 72.48
HSBC Trinkaus & Burkhardt A 10.40 1/27/2017 EUR 69.68
HSBC Trinkaus & Burkhardt A 17.00 1/27/2017 EUR 41.55
Goldman Sachs & Co Wertpapi 15.00 1/25/2017 EUR 71.63
Goldman Sachs & Co Wertpapi 19.00 1/25/2017 EUR 67.17
Goldman Sachs & Co Wertpapi 17.00 1/25/2017 EUR 74.72
Goldman Sachs & Co Wertpapi 15.00 1/25/2017 EUR 66.99
Goldman Sachs & Co Wertpapi 19.00 1/25/2017 EUR 61.74
Goldman Sachs & Co Wertpapi 10.00 12/20/2017 EUR 74.54
Goldman Sachs & Co Wertpapi 12.00 12/20/2017 EUR 71.75
Goldman Sachs & Co Wertpapi 19.00 1/25/2017 EUR 71.88
Goldman Sachs & Co Wertpapi 10.00 1/25/2017 EUR 72.48
Goldman Sachs & Co Wertpapi 14.00 1/25/2017 EUR 64.74
Goldman Sachs & Co Wertpapi 18.00 1/25/2017 EUR 60.59
Goldman Sachs & Co Wertpapi 8.00 12/20/2017 EUR 74.53
Goldman Sachs & Co Wertpapi 10.00 12/20/2017 EUR 72.33
Goldman Sachs & Co Wertpapi 11.00 12/20/2017 EUR 69.48
Leonteq Securities AG 8.80 6/21/2017 CHF 72.47
Natixis Structured Issuance 11.70 12/8/2023 EUR 70.00
Notenstein La Roche Private 9.68 6/15/2017 CHF 70.10
Credit Suisse AG/Nassau 7.13 6/26/2017 CHF 68.52
UBS AG/London 9.75 3/24/2017 EUR 56.86
UBS AG/London 7.00 3/24/2017 EUR 62.27
Goldman Sachs & Co Wertpapi 18.00 3/22/2017 EUR 69.89
Goldman Sachs & Co Wertpapi 19.00 1/25/2017 EUR 67.51
Goldman Sachs & Co Wertpapi 14.00 3/22/2017 EUR 74.67
Goldman Sachs & Co Wertpapi 17.00 3/22/2017 EUR 69.95
Goldman Sachs & Co Wertpapi 15.00 6/21/2017 EUR 72.97
Goldman Sachs & Co Wertpapi 13.00 9/20/2017 EUR 74.63
Goldman Sachs & Co Wertpapi 22.00 1/25/2017 EUR 73.88
Notenstein La Roche Private 6.00 7/11/2017 CHF 71.55
Credit Suisse AG/Nassau 7.25 7/13/2017 CHF 68.98
Vontobel Financial Products 12.50 3/24/2017 EUR 74.20
DZ Bank AG Deutsche Zentral 5.00 1/27/2017 EUR 71.62
DZ Bank AG Deutsche Zentral 9.50 1/27/2017 EUR 71.59
DZ Bank AG Deutsche Zentral 7.50 6/23/2017 EUR 73.98
UBS AG/London 11.70 4/18/2017 EUR 63.42
Bank Julius Baer & Co Ltd/G 9.00 1/19/2017 CHF 73.75
HSBC Trinkaus & Burkhardt A 20.50 3/24/2017 EUR 74.76
Goldman Sachs & Co Wertpapi 17.00 1/25/2017 EUR 73.64
Goldman Sachs & Co Wertpapi 22.00 1/25/2017 EUR 67.42
Goldman Sachs & Co Wertpapi 20.00 2/22/2017 EUR 68.85
Goldman Sachs & Co Wertpapi 17.00 6/21/2017 EUR 73.60
Goldman Sachs & Co Wertpapi 15.00 2/22/2017 EUR 73.85
Goldman Sachs & Co Wertpapi 19.00 2/22/2017 EUR 68.94
Goldman Sachs & Co Wertpapi 21.00 1/25/2017 EUR 69.72
Goldman Sachs & Co Wertpapi 16.00 6/21/2017 EUR 74.82
Goldman Sachs & Co Wertpapi 20.00 2/22/2017 EUR 71.21
Commerzbank AG 4.00 7/19/2017 EUR 59.13
UBS AG/London 7.00 12/22/2017 EUR 73.65
UBS AG/London 7.00 12/22/2017 EUR 67.40
UBS AG/London 4.00 12/22/2017 EUR 66.12
UBS AG/London 9.00 12/22/2017 EUR 62.29
UBS AG/London 7.75 12/22/2017 EUR 41.99
Notenstein La Roche Private 5.04 8/28/2017 CHF 67.87
Leonteq Securities AG/Guern 4.68 8/29/2017 CHF 69.45
Leonteq Securities AG/Guern 5.99 9/11/2017 EUR 44.79
UniCredit Bank AG 4.00 10/14/2019 EUR 52.96
DekaBank Deutsche Girozentr 3.00 6/12/2018 EUR 68.05
Lehman Brothers Treasury Co 12.40 6/12/2009 USD 1.21
Lehman Brothers Treasury Co 0.50 6/2/2020 EUR 1.21
Lehman Brothers Treasury Co 11.00 7/4/2011 USD 1.21
Lehman Brothers Treasury Co 11.00 7/4/2011 CHF 1.21
Kaupthing ehf 7.50 12/5/2014 ISK 17.63
Lehman Brothers Treasury Co 16.00 12/26/2008 USD 1.21
Lehman Brothers Treasury Co 2.50 8/15/2012 CHF 1.21
Lehman Brothers Treasury Co 13.15 10/30/2008 USD 1.21
Lehman Brothers Treasury Co 0.50 8/1/2020 EUR 1.21
Lehman Brothers Treasury Co 16.80 8/21/2009 USD 1.21
Lehman Brothers Treasury Co 14.10 11/12/2008 USD 1.21
Lehman Brothers Treasury Co 5.25 7/8/2014 EUR 1.21
Lehman Brothers Treasury Co 2.30 6/6/2013 USD 1.21
Lehman Brothers Treasury Co 7.50 5/30/2010 AUD 1.21
Lehman Brothers Treasury Co 11.00 5/9/2020 USD 1.21
Lehman Brothers Treasury Co 4.30 6/4/2012 USD 1.21
Lehman Brothers Treasury Co 4.00 6/5/2011 USD 1.21
Lehman Brothers Treasury Co 13.00 7/25/2012 EUR 1.21
Lehman Brothers Treasury Co 3.00 8/13/2011 EUR 1.21
Lehman Brothers Treasury Co 18.25 10/2/2008 USD 1.21
Lehman Brothers Treasury Co 3.40 9/21/2009 HKD 1.21
Lehman Brothers Treasury Co 1.50 10/12/2010 EUR 1.21
Lehman Brothers Treasury Co 2.50 8/23/2012 GBP 1.21
Lehman Brothers Treasury Co 8.00 10/23/2008 USD 1.21
KPNQwest NV 7.13 6/1/2009 EUR 0.06
Lehman Brothers Treasury Co 4.60 11/9/2011 EUR 9.25
Lehman Brothers Treasury Co 6.72 12/29/2008 EUR 1.21
Lehman Brothers Treasury Co 7.06 12/29/2008 EUR 1.21
Lehman Brothers Treasury Co 7.63 7/22/2011 HKD 1.21
Lehman Brothers Treasury Co 6.25 11/30/2012 EUR 1.21
Lehman Brothers Treasury Co 1.00 2/26/2010 USD 1.21
Lehman Brothers Treasury Co 7.05 4/8/2015 USD 1.21
Lehman Brothers Treasury Co 7.80 3/31/2018 USD 1.21
Lehman Brothers Treasury Co 3.50 6/20/2011 EUR 1.21
LBI HF 5.08 3/1/2013 ISK 6.63
Lehman Brothers Treasury Co 7.60 1/31/2013 AUD 1.21
Lehman Brothers Treasury Co 6.45 2/20/2010 AUD 1.21
Lehman Brothers Treasury Co 6.60 5/23/2012 AUD 1.21
Lehman Brothers Treasury Co 3.45 5/23/2013 USD 1.21
Lehman Brothers Treasury Co 5.50 4/23/2014 EUR 1.21
Lehman Brothers Treasury Co 5.00 2/15/2018 EUR 1.21
Lehman Brothers Treasury Co 9.00 5/6/2011 CHF 1.21
Lehman Brothers Treasury Co 10.60 4/22/2014 MXN 1.21
Lehman Brothers Treasury Co 2.50 11/9/2011 CHF 1.21
Lehman Brothers Treasury Co 6.00 10/30/2012 USD 1.21
Lehman Brothers Treasury Co 16.00 10/8/2008 CHF 1.21
Lehman Brothers Treasury Co 3.00 12/3/2012 EUR 1.21
Lehman Brothers Treasury Co 11.00 12/20/2017 AUD 1.21
Lehman Brothers Treasury Co 0.50 12/20/2017 AUD 1.21
Lehman Brothers Treasury Co 0.50 12/20/2017 AUD 1.21
Lehman Brothers Treasury Co 0.50 12/20/2017 AUD 1.21
Lehman Brothers Treasury Co 8.00 12/31/2010 USD 1.21
Lehman Brothers Treasury Co 8.05 12/20/2010 HKD 1.21
Lehman Brothers Treasury Co 0.50 12/20/2017 USD 1.21
Lehman Brothers Treasury Co 0.50 12/20/2017 USD 1.21
Lehman Brothers Treasury Co 0.50 12/20/2017 USD 1.21
Lehman Brothers Treasury Co 0.50 12/20/2017 USD 1.21
Lehman Brothers Treasury Co 5.38 2/4/2014 USD 1.21
Lehman Brothers Treasury Co 13.00 2/16/2009 CHF 1.21
Lehman Brothers Treasury Co 7.00 2/15/2010 CHF 1.21
Lehman Brothers Treasury Co 4.00 7/20/2012 EUR 1.21
Lehman Brothers Treasury Co 4.00 10/12/2010 USD 1.21
Lehman Brothers Treasury Co 6.60 2/9/2009 EUR 1.21
Lehman Brothers Treasury Co 9.50 4/1/2018 USD 1.21
Lehman Brothers Treasury Co 6.00 3/4/2015 USD 1.21
Immigon Portfolioabbau AG 7.00 7/24/2022 EUR 35.00
Kaupthing ehf 7.00 7/24/2009 ISK 17.63
Lehman Brothers Treasury Co 4.05 9/16/2008 EUR 1.21
Lehman Brothers Treasury Co 7.50 2/14/2010 AUD 1.21
Lehman Brothers Treasury Co 5.50 6/22/2010 USD 9.25
Lehman Brothers Treasury Co 10.00 10/23/2008 USD 1.21
Lehman Brothers Treasury Co 10.00 10/22/2008 USD 1.21
Lehman Brothers Treasury Co 16.00 10/28/2008 USD 1.21
Lehman Brothers Treasury Co 5.00 3/13/2009 EUR 1.21
Lehman Brothers Treasury Co 4.80 11/16/2012 HKD 1.21
Lehman Brothers Treasury Co 5.50 11/30/2012 CZK 1.21
Lehman Brothers Treasury Co 14.90 11/16/2010 EUR 1.21
Lehman Brothers Treasury Co 11.00 12/20/2017 AUD 1.21
Lehman Brothers Treasury Co 0.50 12/20/2017 AUD 9.63
Lehman Brothers Treasury Co 0.50 12/20/2017 AUD 1.21
Lehman Brothers Treasury Co 9.30 12/21/2010 EUR 1.21
KPNQwest NV 8.88 2/1/2008 EUR 0.06
Lehman Brothers Treasury Co 11.00 2/16/2009 CHF 1.21
Lehman Brothers Treasury Co 10.00 2/16/2009 CHF 1.21
Lehman Brothers Treasury Co 16.00 11/9/2008 USD 1.21
Lehman Brothers Treasury Co 10.00 5/22/2009 USD 1.21
Lehman Brothers Treasury Co 4.60 8/1/2013 EUR 1.21
Lehman Brothers Treasury Co 8.00 5/22/2009 USD 1.21
Lehman Brothers Treasury Co 7.60 3/4/2010 NZD 1.21
Lehman Brothers Treasury Co 17.00 6/2/2009 USD 1.21
Lehman Brothers Treasury Co 13.50 6/2/2009 USD 1.21
Lehman Brothers Treasury Co 3.00 6/3/2010 EUR 1.21
Lehman Brothers Treasury Co 12.00 7/4/2011 EUR 1.21
Kaupthing ehf 6.50 10/8/2010 ISK 17.63
Lehman Brothers Treasury Co 2.30 6/27/2013 USD 1.21
Lehman Brothers Treasury Co 2.37 7/15/2013 USD 1.21
Lehman Brothers Treasury Co 13.43 1/8/2009 ILS 1.21
Lehman Brothers Treasury Co 7.75 1/3/2012 AUD 1.21
Lehman Brothers Treasury Co 3.10 6/4/2010 USD 1.21
Lehman Brothers Treasury Co 1.95 11/4/2013 EUR 1.21
Lehman Brothers Treasury Co 12.22 11/21/2017 USD 1.21
Lehman Brothers Treasury Co 0.80 12/30/2016 EUR 1.21
Lehman Brothers Treasury Co 9.00 5/15/2022 USD 1.21
Lehman Brothers Treasury Co 10.00 1/3/2012 BRL 1.21
Lehman Brothers Treasury Co 6.00 5/23/2018 CZK 1.21
Lehman Brothers Treasury Co 4.00 5/30/2010 USD 1.21
Lehman Brothers Treasury Co 4.00 5/17/2010 USD 1.21
Royal Bank of Scotland PLC/ 6.20 9/7/2018 GBP 1.07
Lehman Brothers Treasury Co 7.50 6/15/2017 USD 1.21
Lehman Brothers Treasury Co 6.00 12/30/2017 EUR 1.21
Royal Bank of Scotland PLC/ 1.33 10/26/2018 GBP 1.06
Lehman Brothers Treasury Co 2.48 5/12/2009 USD 1.21
Lehman Brothers Treasury Co 2.25 5/12/2009 USD 1.21
HSBC Trinkaus & Burkhardt A 15.20 6/23/2017 EUR 61.89
Lehman Brothers Treasury Co 1.68 3/5/2015 EUR 1.21
Lehman Brothers Treasury Co 5.00 4/24/2017 EUR 1.21
Lehman Brothers Treasury Co 4.25 5/15/2010 EUR 1.21
Lehman Brothers Treasury Co 3.35 10/13/2016 EUR 1.21
DZ Bank AG Deutsche Zentral 8.00 3/24/2017 EUR 66.91
UBS AG 7.00 12/22/2017 EUR 66.55
UBS AG 7.75 12/22/2017 EUR 67.92
UBS AG 10.25 12/22/2017 EUR 47.83
UBS AG 8.50 12/22/2017 EUR 51.37
UBS AG 4.75 12/22/2017 EUR 74.65
UBS AG 6.75 12/22/2017 EUR 57.96
UBS AG 8.25 12/22/2017 EUR 53.15
UBS AG 6.25 12/22/2017 EUR 57.26
DekaBank Deutsche Girozentr 3.40 3/5/2018 EUR 72.79
UniCredit Bank AG 4.30 12/22/2017 EUR 68.12
DekaBank Deutsche Girozentr 3.30 2/26/2018 EUR 56.30
UniCredit Bank AG 4.30 10/29/2018 EUR 67.02
Landesbank Baden-Wuerttembe 3.90 6/23/2017 EUR 72.82
UBS AG 10.25 12/22/2017 EUR 58.50
UBS AG 13.00 12/22/2017 EUR 74.19
UBS AG 7.75 12/22/2017 EUR 46.56
UBS AG 8.25 12/22/2017 EUR 41.42
UBS AG 10.50 12/22/2017 EUR 49.60
UBS AG 9.50 12/22/2017 EUR 50.99
UBS AG 6.50 12/22/2017 EUR 57.46
Landesbank Baden-Wuerttembe 3.30 6/22/2018 EUR 68.04
DekaBank Deutsche Girozentr 3.10 2/26/2018 EUR 73.93
Landesbank Baden-Wuerttembe 3.00 5/25/2018 EUR 70.63
DekaBank Deutsche Girozentr 3.45 6/1/2018 EUR 60.53
UniCredit Bank AG 4.40 9/19/2018 EUR 70.66
UBS AG 9.50 12/22/2017 EUR 55.53
UBS AG 5.50 12/22/2017 EUR 74.83
UBS AG 8.00 12/22/2017 EUR 60.07
UBS AG 5.50 12/22/2017 EUR 70.10
UBS AG 7.50 12/22/2017 EUR 54.74
UBS AG 5.75 12/22/2017 EUR 61.44
UBS AG 5.00 12/22/2017 EUR 69.48
UBS AG 4.50 12/22/2017 EUR 68.22
UBS AG 5.00 12/22/2017 EUR 64.04
UBS AG 6.50 12/22/2017 EUR 65.78
Leonteq Securities AG/Guern 5.75 3/17/2017 CHF 61.10
UniCredit Bank AG 4.30 10/17/2018 EUR 69.92
Barclays Bank PLC 4.17 1/5/2017 EUR 16.92
Landesbank Baden-Wuerttembe 3.55 6/23/2017 EUR 68.48
Landesbank Baden-Wuerttembe 3.15 6/22/2018 EUR 66.58
UBS AG 5.00 12/22/2017 EUR 74.03
Credit Suisse AG/Nassau 5.25 5/14/2018 CHF 62.87
Landesbank Baden-Wuerttembe 3.05 6/22/2018 EUR 72.10
UBS AG 4.50 12/22/2017 EUR 60.11
UniCredit Bank AG 4.10 9/28/2018 EUR 63.90
DekaBank Deutsche Girozentr 3.10 5/5/2017 EUR 71.24
DekaBank Deutsche Girozentr 3.40 4/9/2018 EUR 60.25
Landesbank Baden-Wuerttembe 3.60 6/23/2017 EUR 73.29
DekaBank Deutsche Girozentr 3.15 5/18/2018 EUR 47.35
UBS AG 5.00 12/22/2017 EUR 67.65
UBS AG 4.75 12/22/2017 EUR 57.29
UBS AG/London 5.00 8/14/2017 CHF 55.40
Landesbank Baden-Wuerttembe 3.00 2/23/2018 EUR 65.21
Leonteq Securities AG/Guern 10.58 2/3/2017 USD 22.68
UBS AG/London 14.50 7/20/2017 USD 58.00
Goldman Sachs & Co Wertpapi 24.00 4/26/2017 EUR 73.26
Goldman Sachs & Co Wertpapi 24.00 6/21/2017 EUR 72.64
Goldman Sachs & Co Wertpapi 22.00 7/26/2017 EUR 73.92
Goldman Sachs & Co Wertpapi 21.00 8/23/2017 EUR 74.98
Landesbank Baden-Wuerttembe 3.00 8/24/2018 EUR 62.70
Landesbank Baden-Wuerttembe 3.40 6/22/2018 EUR 55.10
Landesbank Baden-Wuerttembe 2.70 7/27/2018 EUR 70.91
Landesbank Baden-Wuerttembe 4.20 6/23/2017 EUR 67.67
Landesbank Baden-Wuerttembe 3.40 8/24/2018 EUR 67.10
Landesbank Baden-Wuerttembe 3.00 10/27/2017 EUR 71.44
Landesbank Baden-Wuerttembe 5.00 10/27/2017 EUR 67.59
Landesbank Baden-Wuerttembe 5.00 10/27/2017 EUR 63.99
Landesbank Baden-Wuerttembe 4.00 10/27/2017 EUR 67.75
Landesbank Baden-Wuerttembe 2.50 2/24/2017 EUR 56.64
Landesbank Baden-Wuerttembe 2.50 2/24/2017 EUR 74.15
Landesbank Baden-Wuerttembe 2.50 2/24/2017 EUR 67.91
Landesbank Baden-Wuerttembe 3.50 2/24/2017 EUR 54.01
Landesbank Baden-Wuerttembe 3.50 2/24/2017 EUR 69.20
Landesbank Baden-Wuerttembe 3.50 2/24/2017 EUR 62.87
Landesbank Baden-Wuerttembe 3.50 2/24/2017 EUR 74.44
Landesbank Baden-Wuerttembe 4.50 2/24/2017 EUR 74.81
Landesbank Baden-Wuerttembe 4.50 2/24/2017 EUR 65.43
Landesbank Baden-Wuerttembe 4.50 2/24/2017 EUR 71.92
Landesbank Baden-Wuerttembe 4.50 2/24/2017 EUR 58.82
Landesbank Baden-Wuerttembe 4.50 2/24/2017 EUR 70.28
Landesbank Baden-Wuerttembe 5.50 2/24/2017 EUR 70.78
Landesbank Baden-Wuerttembe 5.50 2/24/2017 EUR 62.08
Landesbank Baden-Wuerttembe 5.50 2/24/2017 EUR 55.31
Landesbank Baden-Wuerttembe 5.50 2/24/2017 EUR 66.94
Landesbank Baden-Wuerttembe 4.00 2/24/2017 EUR 73.59
Landesbank Baden-Wuerttembe 5.00 2/24/2017 EUR 74.18
Landesbank Baden-Wuerttembe 5.00 2/24/2017 EUR 70.27
Landesbank Baden-Wuerttembe 6.00 2/24/2017 EUR 70.17
Landesbank Baden-Wuerttembe 3.60 9/22/2017 EUR 71.56
Landesbank Baden-Wuerttembe 3.90 7/28/2017 EUR 48.39
Landesbank Baden-Wuerttembe 5.00 3/24/2017 EUR 74.07
Landesbank Baden-Wuerttembe 5.00 3/24/2017 EUR 72.65
Landesbank Baden-Wuerttembe 4.00 3/24/2017 EUR 70.16
Landesbank Baden-Wuerttembe 5.00 3/24/2017 EUR 66.10
Landesbank Baden-Wuerttembe 6.00 3/24/2017 EUR 62.61
Landesbank Baden-Wuerttembe 3.00 3/24/2017 EUR 64.69
Landesbank Baden-Wuerttembe 4.00 3/24/2017 EUR 60.88
Landesbank Baden-Wuerttembe 5.00 3/24/2017 EUR 57.73
Landesbank Baden-Wuerttembe 3.00 3/24/2017 EUR 68.78
Landesbank Baden-Wuerttembe 4.00 3/24/2017 EUR 64.62
Landesbank Baden-Wuerttembe 5.00 3/24/2017 EUR 61.93
Landesbank Baden-Wuerttembe 2.50 3/24/2017 EUR 55.77
Landesbank Baden-Wuerttembe 4.00 3/24/2017 EUR 52.17
Landesbank Baden-Wuerttembe 4.50 3/24/2017 EUR 71.21
Landesbank Baden-Wuerttembe 3.00 3/24/2017 EUR 67.10
Landesbank Baden-Wuerttembe 6.00 9/22/2017 EUR 74.01
Landesbank Baden-Wuerttembe 3.00 9/22/2017 EUR 62.91
Leonteq Securities AG 6.00 10/12/2017 CHF 65.99
UniCredit Bank AG 4.50 9/19/2017 EUR 62.67
UniCredit Bank AG 5.40 6/30/2017 EUR 59.66
UBS AG 8.25 12/22/2017 EUR 60.08
UBS AG 7.00 12/22/2017 EUR 62.72
UBS AG 5.00 12/22/2017 EUR 67.81
UBS AG 8.75 12/22/2017 EUR 57.61
UBS AG 4.00 12/22/2017 EUR 73.13
UBS AG 10.25 12/22/2017 EUR 53.72
UBS AG 11.75 12/22/2017 EUR 50.93
UBS AG 9.50 12/22/2017 EUR 54.88
UBS AG 10.50 12/22/2017 EUR 50.94
BNP Paribas Emissions- und 23.00 12/21/2017 EUR 74.44
BNP Paribas Emissions- und 28.00 12/21/2017 EUR 69.23
BNP Paribas Emissions- und 25.00 6/22/2017 EUR 74.38
BNP Paribas Emissions- und 28.00 6/22/2017 EUR 68.38
BNP Paribas Emissions- und 26.00 12/21/2017 EUR 70.46
BNP Paribas Emissions- und 29.00 12/21/2017 EUR 73.88
BNP Paribas Emissions- und 28.00 3/23/2017 EUR 72.69
BNP Paribas Emissions- und 26.00 6/22/2017 EUR 66.80
BNP Paribas Emissions- und 23.00 12/21/2017 EUR 67.25
BNP Paribas Emissions- und 29.00 3/23/2017 EUR 70.18
BNP Paribas Emissions- und 24.00 12/21/2017 EUR 74.75
BNP Paribas Emissions- und 12.00 3/23/2017 EUR 74.62
BNP Paribas Emissions- und 18.00 3/23/2017 EUR 64.89
BNP Paribas Emissions- und 22.00 3/23/2017 EUR 61.40
BNP Paribas Emissions- und 15.00 3/23/2017 EUR 74.55
BNP Paribas Emissions- und 16.00 6/22/2017 EUR 72.26
BNP Paribas Emissions- und 28.00 6/22/2017 EUR 61.71
BNP Paribas Emissions- und 28.00 12/21/2017 EUR 74.13
BNP Paribas Emissions- und 27.00 3/23/2017 EUR 72.63
BNP Paribas Emissions- und 27.00 12/21/2017 EUR 72.43
BNP Paribas Emissions- und 18.00 6/22/2017 EUR 62.31
BNP Paribas Emissions- und 21.00 6/22/2017 EUR 58.60
BNP Paribas Emissions- und 25.00 12/21/2017 EUR 58.10
BNP Paribas Emissions- und 18.00 3/23/2017 EUR 62.55
BNP Paribas Emissions- und 15.00 3/23/2017 EUR 73.73
BNP Paribas Emissions- und 22.00 3/23/2017 EUR 65.85
BNP Paribas Emissions- und 27.00 12/21/2017 EUR 64.35
BNP Paribas Emissions- und 13.00 6/22/2017 EUR 66.51
BNP Paribas Emissions- und 25.00 6/22/2017 EUR 49.19
BNP Paribas Emissions- und 25.00 12/21/2017 EUR 54.04
Vontobel Financial Products 8.00 3/24/2017 EUR 73.75
BNP Paribas Emissions- und 28.00 3/23/2017 EUR 71.20
BNP Paribas Emissions- und 27.00 12/21/2017 EUR 71.63
BNP Paribas Emissions- und 29.00 6/22/2017 EUR 68.68
BNP Paribas Emissions- und 28.00 12/21/2017 EUR 71.74
BNP Paribas Emissions- und 25.00 12/21/2017 EUR 73.94
BNP Paribas Emissions- und 28.00 12/21/2017 EUR 71.32
BNP Paribas Emissions- und 25.00 3/23/2017 EUR 70.98
BNP Paribas Emissions- und 22.00 3/23/2017 EUR 65.98
BNP Paribas Emissions- und 29.00 3/23/2017 EUR 59.87
BNP Paribas Emissions- und 22.00 12/21/2017 EUR 71.37
BNP Paribas Emissions- und 26.00 12/21/2017 EUR 68.12
BNP Paribas Emissions- und 29.00 6/22/2017 EUR 73.06
BNP Paribas Emissions- und 29.00 12/21/2017 EUR 65.66
BNP Paribas Emissions- und 27.00 12/21/2017 EUR 71.63
BNP Paribas Emissions- und 28.00 3/23/2017 EUR 55.63
BNP Paribas Emissions- und 27.00 12/21/2017 EUR 61.87
BNP Paribas Emissions- und 28.00 12/21/2017 EUR 72.68
BNP Paribas Emissions- und 27.00 12/21/2017 EUR 71.82
BNP Paribas Emissions- und 15.00 12/21/2017 EUR 74.28
BNP Paribas Emissions- und 22.00 12/21/2017 EUR 68.68
BNP Paribas Emissions- und 29.00 12/21/2017 EUR 73.97
BNP Paribas Emissions- und 28.00 12/21/2017 EUR 73.80
BNP Paribas Emissions- und 28.00 3/23/2017 EUR 63.81
BNP Paribas Emissions- und 22.00 3/23/2017 EUR 69.17
BNP Paribas Emissions- und 28.00 3/23/2017 EUR 64.04
BNP Paribas Emissions- und 17.00 12/21/2017 EUR 74.36
BNP Paribas Emissions- und 25.00 12/21/2017 EUR 68.22
BNP Paribas Emissions- und 10.00 12/21/2017 EUR 74.52
BNP Paribas Emissions- und 13.00 12/21/2017 EUR 69.43
BNP Paribas Emissions- und 28.00 3/23/2017 EUR 53.30
BNP Paribas Emissions- und 13.00 3/23/2017 EUR 65.14
BNP Paribas Emissions- und 16.00 3/23/2017 EUR 58.89
BNP Paribas Emissions- und 19.00 3/23/2017 EUR 54.00
BNP Paribas Emissions- und 22.00 3/23/2017 EUR 50.12
BNP Paribas Emissions- und 25.00 3/23/2017 EUR 47.00
BNP Paribas Emissions- und 28.00 3/23/2017 EUR 44.46
BNP Paribas Emissions- und 15.00 12/21/2017 EUR 63.63
BNP Paribas Emissions- und 19.00 12/21/2017 EUR 58.03
BNP Paribas Emissions- und 22.00 12/21/2017 EUR 55.37
Goldman Sachs & Co Wertpapi 16.00 3/22/2017 EUR 74.19
Vontobel Financial Products 12.25 3/10/2017 EUR 68.21
Vontobel Financial Products 11.75 6/9/2017 EUR 70.69
Goldman Sachs & Co Wertpapi 16.00 3/22/2017 EUR 62.95
Leonteq Securities AG 11.20 1/26/2017 CHF 73.73
Leonteq Securities AG 10.20 1/26/2017 CHF 63.46
Deutsche Bank AG 5.20 3/21/2017 EUR 72.70
Deutsche Bank AG 5.20 3/21/2017 EUR 69.90
Deutsche Bank AG 7.20 3/21/2017 EUR 73.10
Deutsche Bank AG 7.20 3/21/2017 EUR 70.30
DekaBank Deutsche Girozentr 2.60 10/12/2018 EUR 74.98
Goldman Sachs & Co Wertpapi 16.00 6/21/2017 EUR 67.94
Societe Generale Effekten G 8.47 6/23/2017 EUR 73.14
Societe Generale Effekten G 8.81 6/23/2017 EUR 57.32
Societe Generale Effekten G 11.68 6/23/2017 EUR 53.14
UBS AG/London 3.81 10/28/2017 USD 65.75
Notenstein La Roche Private 7.70 5/9/2017 CHF 62.39
Landesbank Baden-Wuerttembe 4.00 4/28/2017 EUR 73.18
Landesbank Baden-Wuerttembe 5.00 4/28/2017 EUR 70.24
Landesbank Baden-Wuerttembe 3.00 4/28/2017 EUR 72.44
Landesbank Baden-Wuerttembe 4.00 4/28/2017 EUR 69.87
Vontobel Financial Products 8.25 3/10/2017 EUR 73.73
Vontobel Financial Products 8.65 3/10/2017 EUR 62.85
UBS AG/London 10.20 2/10/2017 EUR 74.01
UBS AG/London 4.70 2/10/2017 EUR 69.08
Goldman Sachs & Co Wertpapi 10.00 6/21/2017 EUR 65.21
UBS AG/London 20.36 6/6/2017 USD 6.88
Goldman Sachs & Co Wertpapi 10.00 6/21/2017 EUR 69.23
Goldman Sachs & Co Wertpapi 11.00 6/21/2017 EUR 69.70
Goldman Sachs & Co Wertpapi 11.00 6/21/2017 EUR 65.67
Notenstein La Roche Private 4.80 11/14/2018 CHF 72.01
Goldman Sachs International 1.00 12/5/2017 SEK 13.58
Notenstein La Roche Private 5.30 11/14/2018 CHF 74.73
Notenstein La Roche Private 3.00 9/22/2020 CHF 68.21
Credit Suisse AG/London 7.00 11/15/2019 USD 8.40
UniCredit Bank AG 3.50 1/29/2020 EUR 74.51
Credit Suisse AG/London 8.00 11/29/2019 USD 8.50
Notenstein La Roche Private 5.50 12/28/2018 CHF 71.79
Notenstein La Roche Private 5.00 1/14/2019 CHF 68.71
Notenstein La Roche Private 8.50 1/16/2017 EUR 52.97
Notenstein La Roche Private 5.50 1/14/2019 CHF 73.53
Leonteq Securities AG 8.20 1/16/2017 CHF 73.72
Notenstein La Roche Private 4.50 10/31/2018 CHF 66.67
Leonteq Securities AG 3.00 9/19/2019 CHF 57.48
DekaBank Deutsche Girozentr 7.15 10/27/2017 EUR 47.63
Notenstein La Roche Private 5.00 10/31/2018 CHF 69.32
Landesbank Baden-Wuerttembe 3.25 12/22/2017 EUR 69.65
UniCredit Bank AG 4.00 6/26/2018 EUR 64.79
UniCredit Bank AG 4.60 6/30/2017 EUR 56.84
Landesbank Baden-Wuerttembe 3.25 1/26/2018 EUR 65.36
Landesbank Hessen-Thueringe 4.00 1/16/2018 EUR 64.83
Barclays Bank PLC 4.17 1/5/2017 EUR 22.20
Landesbank Baden-Wuerttembe 3.25 6/23/2017 EUR 73.62
Leonteq Securities AG/Guern 5.00 12/27/2019 EUR 70.47
Leonteq Securities AG 6.00 2/20/2017 CHF 50.76
Bayerische Landesbank 3.00 3/9/2018 EUR 60.92
Leonteq Securities AG 7.20 3/6/2017 CHF 64.94
Leonteq Securities AG 7.80 2/27/2017 EUR 60.94
DekaBank Deutsche Girozentr 2.40 2/17/2017 EUR 63.04
UniCredit Bank AG 5.00 6/25/2019 EUR 64.02
Landesbank Hessen-Thueringe 5.00 3/27/2019 EUR 66.99
EFG International Finance G 7.20 2/25/2019 EUR 29.35
Leonteq Securities AG 5.20 3/6/2017 CHF 73.70
UniCredit Bank AG 3.75 10/2/2020 EUR 68.73
DekaBank Deutsche Girozentr 2.50 2/24/2017 EUR 73.87
DekaBank Deutsche Girozentr 3.00 12/17/2018 EUR 48.23
DZ Bank AG Deutsche Zentral 5.00 2/6/2018 EUR 70.65
DekaBank Deutsche Girozentr 3.20 1/14/2019 EUR 61.21
Leonteq Securities AG 6.00 1/30/2017 CHF 69.45
UniCredit Bank AG 3.75 9/7/2020 EUR 71.06
DekaBank Deutsche Girozentr 2.75 7/17/2019 EUR 73.58
Vontobel Financial Products 6.20 2/4/2019 EUR 72.27
Notenstein La Roche Private 8.00 2/6/2017 EUR 71.00
DekaBank Deutsche Girozentr 2.75 2/2/2018 EUR 72.58
Commerzbank AG 5.24 2/16/2017 EUR 63.67
Notenstein La Roche Private 5.00 2/27/2019 CHF 68.84
Notenstein La Roche Private 5.70 2/27/2019 CHF 67.55
BNP Paribas Emissions- und 27.00 6/22/2017 EUR 72.94
BNP Paribas Emissions- und 25.00 6/22/2017 EUR 62.66
BNP Paribas Emissions- und 19.00 12/21/2017 EUR 69.35
BNP Paribas Emissions- und 28.00 12/21/2017 EUR 63.54
BNP Paribas Emissions- und 19.00 3/23/2017 EUR 68.13
BNP Paribas Emissions- und 24.00 3/23/2017 EUR 63.40
BNP Paribas Emissions- und 28.00 3/23/2017 EUR 59.42
BNP Paribas Emissions- und 16.00 6/22/2017 EUR 71.14
BNP Paribas Emissions- und 13.00 6/22/2017 EUR 60.39
BNP Paribas Emissions- und 19.00 6/22/2017 EUR 54.23
BNP Paribas Emissions- und 28.00 12/21/2017 EUR 54.37
BNP Paribas Emissions- und 24.00 3/23/2017 EUR 59.77
BNP Paribas Emissions- und 12.00 12/21/2017 EUR 72.46
BNP Paribas Emissions- und 18.00 3/23/2017 EUR 66.19
BNP Paribas Emissions- und 22.00 3/23/2017 EUR 62.60
BNP Paribas Emissions- und 25.00 6/22/2017 EUR 60.18
BNP Paribas Emissions- und 27.00 6/22/2017 EUR 58.26
BNP Paribas Emissions- und 19.00 12/21/2017 EUR 66.88
BNP Paribas Emissions- und 22.00 12/21/2017 EUR 64.38
BNP Paribas Emissions- und 25.00 12/21/2017 EUR 62.99
BNP Paribas Emissions- und 27.00 12/21/2017 EUR 61.40
BNP Paribas Emissions- und 22.00 3/23/2017 EUR 72.32
BNP Paribas Emissions- und 26.00 3/23/2017 EUR 68.00
DZ Bank AG Deutsche Zentral 15.75 2/24/2017 EUR 67.38
Communaute Francaise de Bel 0.50 6/27/2046 EUR 68.32
DZ Bank AG Deutsche Zentral 9.25 7/28/2017 EUR 64.73
UBS AG/London 4.40 6/25/2018 USD 49.75
UBS AG/London 4.47 6/25/2018 USD 61.03
UBS AG/London 4.98 12/26/2017 USD 41.97
HSBC Trinkaus & Burkhardt A 8.20 9/22/2017 EUR 64.82
Credit Suisse AG/London 8.55 1/30/2026 USD 10.03
Societe Generale Effekten G 14.99 3/24/2017 EUR 72.10
Societe Generale Effekten G 15.64 6/23/2017 EUR 74.74
HSBC Trinkaus & Burkhardt A 11.80 3/24/2017 EUR 74.66
Zurcher Kantonalbank Financ 14.30 10/11/2017 CHF 72.31
Bank Julius Baer & Co Ltd/G 11.60 10/11/2017 CHF 64.00
UBS AG/London 15.00 10/5/2017 CHF 67.70
Noyabrskaya Pge OOO 8.50 11/10/2020 RUB 60.00
Podkarpacki Bank Spoldzielc 5.80 10/24/2024 PLN 61.80
Transgazservice LLP 10.50 11/8/2019 RUB 1.10
Goldman Sachs & Co Wertpapi 10.00 3/22/2017 EUR 68.19
Goldman Sachs & Co Wertpapi 12.00 3/22/2017 EUR 64.50
Goldman Sachs & Co Wertpapi 11.00 6/21/2017 EUR 65.70
Goldman Sachs & Co Wertpapi 10.00 6/21/2017 EUR 69.25
HSBC Trinkaus & Burkhardt A 6.30 3/24/2017 EUR 74.24
HSBC Trinkaus & Burkhardt A 6.70 3/24/2017 EUR 60.35
HSBC Trinkaus & Burkhardt A 6.50 3/24/2017 EUR 68.44
HSBC Trinkaus & Burkhardt A 7.40 3/24/2017 EUR 62.08
HSBC Trinkaus & Burkhardt A 6.70 3/24/2017 EUR 67.83
Landesbank Baden-Wuerttembe 2.60 2/24/2017 EUR 67.25
UBS AG/London 6.25 7/24/2017 CHF 70.70
Landesbank Baden-Wuerttembe 2.60 8/23/2019 EUR 68.70
Zurcher Kantonalbank Financ 5.00 7/27/2017 CHF 74.86
Vontobel Financial Products 6.80 1/27/2017 EUR 72.52
Credit Suisse AG/Nassau 7.00 8/7/2017 CHF 74.45
Zurcher Kantonalbank Financ 5.50 1/30/2017 CHF 65.80
Goldman Sachs & Co Wertpapi 13.00 3/22/2017 EUR 50.77
Goldman Sachs & Co Wertpapi 9.00 6/21/2017 EUR 58.18
Goldman Sachs & Co Wertpapi 12.00 6/21/2017 EUR 53.64
Landesbank Baden-Wuerttembe 4.50 8/25/2017 EUR 74.54
Landesbank Baden-Wuerttembe 3.50 8/25/2017 EUR 74.46
Landesbank Baden-Wuerttembe 4.50 8/25/2017 EUR 70.97
Landesbank Baden-Wuerttembe 2.50 8/25/2017 EUR 74.80
Landesbank Baden-Wuerttembe 3.50 8/25/2017 EUR 70.74
Landesbank Baden-Wuerttembe 4.50 8/25/2017 EUR 67.52
Landesbank Baden-Wuerttembe 3.00 8/25/2017 EUR 71.61
Landesbank Baden-Wuerttembe 4.00 8/25/2017 EUR 68.36
Landesbank Baden-Wuerttembe 5.00 8/25/2017 EUR 65.87
Landesbank Baden-Wuerttembe 3.00 8/25/2017 EUR 67.68
Landesbank Baden-Wuerttembe 4.00 8/25/2017 EUR 64.17
Landesbank Baden-Wuerttembe 5.00 8/25/2017 EUR 61.44
Landesbank Baden-Wuerttembe 3.00 8/25/2017 EUR 72.17
EFG International Finance G 7.20 7/29/2020 EUR 51.37
Notenstein La Roche Private 4.00 1/31/2017 EUR 71.71
Zurcher Kantonalbank Financ 4.00 8/24/2018 CHF 74.55
Credit Suisse AG/Nassau 5.50 8/3/2017 EUR 72.69
Bank Julius Baer & Co Ltd/G 4.75 2/13/2017 CHF 72.90
Bank Julius Baer & Co Ltd/G 9.05 2/13/2017 EUR 70.05
Zurcher Kantonalbank Financ 5.75 2/6/2017 EUR 74.60
DekaBank Deutsche Girozentr 2.60 6/23/2017 EUR 66.54
Notenstein La Roche Private 7.00 8/14/2017 CHF 71.55
Leonteq Securities AG 5.20 8/14/2018 CHF 67.39
Goldman Sachs & Co Wertpapi 9.00 6/21/2017 EUR 67.28
Goldman Sachs & Co Wertpapi 13.00 6/21/2017 EUR 60.19
Credit Suisse AG/London 7.70 8/20/2025 USD 8.64
Notenstein La Roche Private 6.30 2/14/2017 CHF 56.16
Landesbank Baden-Wuerttembe 3.00 6/23/2017 EUR 70.66
Landesbank Baden-Wuerttembe 4.00 6/23/2017 EUR 66.93
Landesbank Baden-Wuerttembe 5.00 6/23/2017 EUR 63.80
Landesbank Baden-Wuerttembe 6.00 6/23/2017 EUR 61.36
Credit Suisse AG/Nassau 6.38 6/12/2017 EUR 62.94
Vontobel Financial Products 5.00 1/10/2017 EUR 60.50
Landesbank Baden-Wuerttembe 2.75 7/26/2019 EUR 72.83
UniCredit Bank AG 3.80 7/23/2020 EUR 69.40
Leonteq Securities AG 3.00 7/8/2019 CHF 74.58
Notenstein La Roche Private 3.00 7/3/2019 CHF 73.86
UniCredit Bank AG 4.40 7/13/2018 EUR 67.79
Notenstein La Roche Private 6.50 6/26/2017 EUR 65.86
Raiffeisen Centrobank AG 6.24 3/22/2017 EUR 72.96
Raiffeisen Centrobank AG 9.07 3/22/2017 EUR 73.43
Raiffeisen Centrobank AG 7.37 3/22/2017 EUR 73.71
Landesbank Baden-Wuerttembe 3.00 7/26/2019 EUR 74.98
EFG International Finance G 5.30 6/24/2019 EUR 72.37
Goldman Sachs & Co Wertpapi 6.00 3/22/2017 EUR 73.69
Goldman Sachs & Co Wertpapi 8.00 3/22/2017 EUR 67.74
Goldman Sachs & Co Wertpapi 10.00 3/22/2017 EUR 62.74
Goldman Sachs & Co Wertpapi 14.00 3/22/2017 EUR 54.99
Goldman Sachs & Co Wertpapi 6.00 6/21/2017 EUR 74.38
Goldman Sachs & Co Wertpapi 8.00 6/21/2017 EUR 69.42
Goldman Sachs & Co Wertpapi 10.00 6/21/2017 EUR 65.15
Goldman Sachs & Co Wertpapi 13.00 6/21/2017 EUR 58.09
Goldman Sachs & Co Wertpapi 5.00 3/22/2017 EUR 72.73
Goldman Sachs & Co Wertpapi 6.00 3/22/2017 EUR 70.17
Goldman Sachs & Co Wertpapi 7.00 3/22/2017 EUR 67.79
Goldman Sachs & Co Wertpapi 8.00 3/22/2017 EUR 63.33
Goldman Sachs & Co Wertpapi 10.00 3/22/2017 EUR 59.68
Goldman Sachs & Co Wertpapi 14.00 3/22/2017 EUR 53.80
Goldman Sachs & Co Wertpapi 6.00 6/21/2017 EUR 71.19
Goldman Sachs & Co Wertpapi 6.00 6/21/2017 EUR 73.73
Goldman Sachs & Co Wertpapi 7.00 6/21/2017 EUR 69.24
Goldman Sachs & Co Wertpapi 8.00 6/21/2017 EUR 65.23
Goldman Sachs & Co Wertpapi 10.00 6/21/2017 EUR 62.19
Goldman Sachs & Co Wertpapi 13.00 6/21/2017 EUR 56.92
Goldman Sachs & Co Wertpapi 7.00 3/22/2017 EUR 67.27
Goldman Sachs & Co Wertpapi 8.00 3/22/2017 EUR 64.04
Goldman Sachs & Co Wertpapi 9.00 3/22/2017 EUR 61.15
Goldman Sachs & Co Wertpapi 13.00 3/22/2017 EUR 54.30
Goldman Sachs & Co Wertpapi 6.00 6/21/2017 EUR 71.40
Goldman Sachs & Co Wertpapi 7.00 6/21/2017 EUR 68.16
Goldman Sachs & Co Wertpapi 8.00 6/21/2017 EUR 65.27
Goldman Sachs & Co Wertpapi 10.00 6/21/2017 EUR 63.16
Goldman Sachs & Co Wertpapi 13.00 6/21/2017 EUR 56.98
Goldman Sachs & Co Wertpapi 7.00 3/22/2017 EUR 68.36
UBS AG/London 9.25 6/26/2017 CHF 63.50
UBS AG/London 7.00 6/26/2017 EUR 66.10
Landesbank Baden-Wuerttembe 3.70 7/27/2018 EUR 72.04
UBS AG/London 9.40 6/30/2017 EUR 45.90
EFG International Finance G 7.20 6/26/2017 GBP 23.72
Vontobel Financial Products 3.10 1/2/2017 EUR 63.20
Zurcher Kantonalbank Financ 8.50 7/17/2017 CHF 63.43
Zurcher Kantonalbank Financ 9.00 7/17/2017 EUR 74.43
UBS AG/London 7.50 7/3/2017 EUR 61.85
Banque Cantonale Vaudoise 7.25 7/3/2017 CHF 61.74
Landesbank Baden-Wuerttembe 3.00 3/24/2017 EUR 61.77
Landesbank Baden-Wuerttembe 4.00 3/24/2017 EUR 58.22
Landesbank Baden-Wuerttembe 5.00 3/24/2017 EUR 55.26
Landesbank Baden-Wuerttembe 6.00 3/24/2017 EUR 52.65
Landesbank Baden-Wuerttembe 3.00 3/24/2017 EUR 66.51
Landesbank Baden-Wuerttembe 4.00 3/24/2017 EUR 62.51
Landesbank Baden-Wuerttembe 5.50 3/24/2017 EUR 57.93
Landesbank Baden-Wuerttembe 4.80 6/23/2017 EUR 67.23
Landesbank Baden-Wuerttembe 3.25 7/28/2017 EUR 70.10
Landesbank Baden-Wuerttembe 3.00 6/23/2017 EUR 72.24
Landesbank Baden-Wuerttembe 4.40 8/25/2017 EUR 74.49
Landesbank Baden-Wuerttembe 3.70 8/25/2017 EUR 74.56
Landesbank Baden-Wuerttembe 4.50 8/25/2017 EUR 68.77
Landesbank Baden-Wuerttembe 3.55 8/25/2017 EUR 42.52
Landesbank Baden-Wuerttembe 3.70 9/22/2017 EUR 69.35
Landesbank Baden-Wuerttembe 3.75 9/22/2017 EUR 41.39
Landesbank Baden-Wuerttembe 3.20 9/22/2017 EUR 64.47
Landesbank Baden-Wuerttembe 3.00 6/22/2018 EUR 56.69
Landesbank Baden-Wuerttembe 3.50 11/24/2017 EUR 56.51
Landesbank Baden-Wuerttembe 3.40 6/23/2017 EUR 51.99
Landesbank Baden-Wuerttembe 3.85 10/27/2017 EUR 45.25
Landesbank Baden-Wuerttembe 3.00 11/24/2017 EUR 53.66
Landesbank Baden-Wuerttembe 3.40 11/24/2017 EUR 43.62
Landesbank Baden-Wuerttembe 3.50 1/26/2018 EUR 74.24
Landesbank Baden-Wuerttembe 3.45 3/22/2019 EUR 62.34
Landesbank Baden-Wuerttembe 4.50 3/23/2018 EUR 53.98
Landesbank Baden-Wuerttembe 3.00 6/28/2019 EUR 66.83
Landesbank Baden-Wuerttembe 2.50 6/28/2019 EUR 68.42
Landesbank Baden-Wuerttembe 3.00 6/28/2019 EUR 71.25
Landesbank Baden-Wuerttembe 3.50 6/22/2018 EUR 65.21
Landesbank Baden-Wuerttembe 4.00 8/25/2017 EUR 41.09
Landesbank Baden-Wuerttembe 3.00 9/28/2018 EUR 48.15
Landesbank Baden-Wuerttembe 3.75 10/27/2017 EUR 45.80
Landesbank Baden-Wuerttembe 3.00 1/4/2019 EUR 53.78
Notenstein La Roche Private 5.40 4/21/2017 CHF 74.04
UBS AG/London 5.00 4/22/2017 CHF 72.95
Leonteq Securities AG 5.00 5/7/2019 CHF 69.42
Leonteq Securities AG 6.00 5/5/2017 CHF 74.62
Notenstein La Roche Private 5.60 5/4/2017 CHF 74.53
Landesbank Baden-Wuerttembe 3.25 8/25/2017 EUR 67.60
Landesbank Baden-Wuerttembe 3.00 6/28/2019 EUR 72.03
Commerzbank AG 7.24 4/27/2017 EUR 56.86
Commerzbank AG 6.24 4/27/2017 EUR 74.18
Leonteq Securities AG 8.00 4/24/2017 USD 59.26
DekaBank Deutsche Girozentr 3.25 4/20/2018 EUR 60.17
DekaBank Deutsche Girozentr 2.60 4/21/2017 EUR 57.43
Landesbank Hessen-Thueringe 4.00 6/5/2019 EUR 74.09
Leonteq Securities AG 6.00 5/4/2017 CHF 74.21
Bank Julius Baer & Co Ltd/G 6.00 5/2/2017 CHF 72.40
Notenstein La Roche Private 4.00 5/8/2018 CHF 61.88
DekaBank Deutsche Girozentr 2.75 10/29/2018 EUR 59.86
EFG International Finance G 7.19 5/6/2019 EUR 25.47
Notenstein Finance Guernsey 7.19 5/6/2019 EUR 74.82
Bank J Safra Sarasin AG/Gue 8.00 5/4/2017 CHF 65.07
DekaBank Deutsche Girozentr 3.00 4/30/2019 EUR 69.52
UniCredit Bank AG 5.00 7/30/2018 EUR 71.46
Landesbank Baden-Wuerttembe 4.00 6/22/2018 EUR 68.30
Landesbank Baden-Wuerttembe 3.60 6/22/2018 EUR 65.86
UBS AG 7.40 5/17/2021 CHF 73.52
Societe Generale SA 9.50 5/21/2018 USD 48.32
Notenstein La Roche Private 4.20 5/22/2019 CHF 66.85
Notenstein La Roche Private 4.50 5/22/2018 CHF 67.39
Landesbank Baden-Wuerttembe 3.00 7/26/2019 EUR 72.45
Credit Suisse AG/London 4.00 5/22/2017 CHF 74.69
DekaBank Deutsche Girozentr 3.00 5/12/2017 EUR 61.52
DekaBank Deutsche Girozentr 2.80 5/13/2019 EUR 64.55
Notenstein La Roche Private 4.10 6/5/2019 CHF 74.16
Notenstein La Roche Private 4.00 5/29/2017 CHF 73.50
Zurcher Kantonalbank Financ 3.80 5/22/2017 EUR 63.09
UBS AG/London 7.00 5/22/2017 CHF 61.45
UBS AG/London 8.00 5/26/2017 EUR 60.55
Leonteq Securities AG 9.92 5/29/2017 EUR 63.27
Notenstein La Roche Private 4.30 6/5/2019 CHF 72.40
Notenstein La Roche Private 5.80 6/5/2018 CHF 72.63
Commerzbank AG 6.76 6/22/2017 EUR 61.59
BNP Paribas Emissions- und 3.25 11/24/2017 EUR 71.91
Landesbank Baden-Wuerttembe 3.50 7/27/2018 EUR 68.25
Landesbank Baden-Wuerttembe 3.50 7/27/2018 EUR 64.83
Landesbank Baden-Wuerttembe 3.40 7/27/2018 EUR 68.61
Landesbank Baden-Wuerttembe 4.00 6/23/2017 EUR 69.23
Landesbank Baden-Wuerttembe 5.50 6/23/2017 EUR 64.52
Landesbank Baden-Wuerttembe 4.00 6/23/2017 EUR 69.10
Landesbank Baden-Wuerttembe 5.50 6/23/2017 EUR 64.50
Landesbank Baden-Wuerttembe 2.50 6/23/2017 EUR 70.07
Landesbank Baden-Wuerttembe 3.50 6/23/2017 EUR 66.05
Landesbank Baden-Wuerttembe 4.50 6/23/2017 EUR 63.02
Landesbank Baden-Wuerttembe 2.50 6/23/2017 EUR 66.93
Landesbank Baden-Wuerttembe 4.00 6/23/2017 EUR 61.04
Landesbank Baden-Wuerttembe 5.50 6/23/2017 EUR 56.86
Credit Suisse AG/London 8.95 10/17/2019 USD 9.35
RGS Nedvizhimost OOO 12.50 12/11/2017 RUB 60.03
URALSIB Leasing Co OOO 11.50 12/21/2017 RUB 0.01
Vontobel Financial Products 3.00 6/13/2017 EUR 54.87
EFG International Finance G 12.86 10/30/2017 EUR 7.76
Landesbank Baden-Wuerttembe 3.85 8/25/2017 EUR 67.29
UBS AG/London 10.00 3/16/2017 CHF 22.85
Lehman Brothers Treasury Co 8.28 3/26/2009 USD 1.21
Lehman Brothers Treasury Co 6.85 12/22/2008 EUR 1.21
Lehman Brothers Treasury Co 7.60 3/26/2009 EUR 1.21
Lehman Brothers Treasury Co 7.55 12/29/2008 USD 1.21
Fargo Finance OOO 9.00 2/6/2019 RUB 0.01
HSBC Bank PLC 0.50 12/8/2020 BRL 70.58
Societe Generale SA 0.50 4/4/2024 MXN 52.76
Barclays Bank PLC 1.99 12/1/2040 USD 69.68
Lehman Brothers Treasury Co 9.25 6/20/2012 USD 1.21
Lehman Brothers Treasury Co 3.00 9/13/2010 JPY 9.25
Societe Generale SA 0.50 8/4/2021 BRL 63.38
Polski Bank Spoldzielczy w 4.81 6/22/2021 PLN 55.00
Zurcher Kantonalbank Financ 11.25 4/26/2017 CHF 46.22
Vontobel Financial Products 3.00 5/26/2017 CHF 73.71
HSBC Trinkaus & Burkhardt A 4.00 6/16/2017 EUR 70.54
Kommunekredit 0.50 5/11/2029 CAD 69.76
Lehman Brothers Treasury Co 4.50 3/7/2015 EUR 1.21
Lehman Brothers Treasury Co 0.01 9/20/2011 USD 1.21
Lehman Brothers Treasury Co 7.50 8/1/2035 EUR 1.21
Lehman Brothers Treasury Co 6.00 12/6/2016 USD 1.21
Lehman Brothers Treasury Co 3.00 8/8/2017 EUR 1.21
Hellas Telecommunications L 8.50 10/15/2013 EUR 0.28
Lehman Brothers Treasury Co 5.00 9/1/2011 EUR 1.21
Lehman Brothers Treasury Co 3.00 8/15/2017 EUR 1.21
Municipality Finance PLC 0.25 6/28/2040 CAD 30.43
Lehman Brothers Treasury Co 4.50 12/30/2010 USD 1.21
Lehman Brothers Treasury Co 7.00 7/11/2010 EUR 1.21
Lehman Brothers Treasury Co 5.00 8/1/2025 EUR 1.21
Lehman Brothers Treasury Co 6.00 7/28/2010 EUR 1.21
Lehman Brothers Treasury Co 6.00 7/28/2010 EUR 1.21
Lehman Brothers Treasury Co 4.90 7/28/2020 EUR 1.21
Lehman Brothers Treasury Co 4.15 8/25/2020 EUR 1.21
Lehman Brothers Treasury Co 3.50 9/29/2017 EUR 1.21
Lehman Brothers Treasury Co 3.50 9/19/2017 EUR 1.21
Lehman Brothers Treasury Co 10.00 1/4/2010 USD 1.21
Lehman Brothers Treasury Co 12.00 7/13/2037 JPY 1.21
Lehman Brothers Treasury Co 10.00 6/11/2038 JPY 1.21
Lehman Brothers Treasury Co 5.00 12/6/2011 EUR 1.21
Lehman Brothers Treasury Co 1.50 2/8/2012 CHF 1.21
Lehman Brothers Treasury Co 4.00 4/24/2009 USD 1.21
Lehman Brothers Treasury Co 9.00 6/13/2009 USD 1.21
Lehman Brothers Treasury Co 3.85 4/24/2009 USD 1.21
Lehman Brothers Treasury Co 10.50 8/9/2010 EUR 1.21
Lehman Brothers Treasury Co 5.75 6/15/2009 CHF 1.21
Lehman Brothers Treasury Co 10.00 3/27/2009 USD 1.21
Lehman Brothers Treasury Co 4.95 10/25/2036 EUR 1.21
Lehman Brothers Treasury Co 11.00 6/29/2009 EUR 1.21
Lehman Brothers Treasury Co 5.50 6/15/2009 CHF 1.21
Immigon Portfolioabbau AG 0.69 5/20/2025 EUR 59.88
Lehman Brothers Treasury Co 1.50 10/25/2011 EUR 1.21
Lehman Brothers Treasury Co 6.00 6/21/2011 EUR 1.21
Lehman Brothers Treasury Co 7.59 11/22/2009 MXN 9.25
Lehman Brothers Treasury Co 0.50 2/16/2009 EUR 1.21
Immigon Portfolioabbau AG 0.98 3/1/2022 EUR 73.63
Lehman Brothers Treasury Co 6.00 3/17/2011 EUR 1.21
Lehman Brothers Treasury Co 4.70 3/23/2016 EUR 1.21
Lehman Brothers Treasury Co 4.70 3/23/2016 EUR 1.21
Lehman Brothers Treasury Co 6.50 7/24/2026 EUR 1.21
Lehman Brothers Treasury Co 4.50 8/2/2009 USD 1.21
Lehman Brothers Treasury Co 9.00 3/17/2009 GBP 1.21
Lehman Brothers Treasury Co 7.00 11/28/2008 CHF 1.21
Lehman Brothers Treasury Co 8.00 5/22/2009 USD 1.21
Lehman Brothers Treasury Co 4.50 7/24/2014 EUR 1.21
Lehman Brothers Treasury Co 7.75 1/30/2009 EUR 1.21
Lehman Brothers Treasury Co 0.25 7/21/2014 EUR 1.21
Lehman Brothers Treasury Co 8.00 8/3/2009 USD 1.21
Lehman Brothers Treasury Co 4.00 11/24/2016 EUR 1.21
Immigon Portfolioabbau AG 4.78 6/7/2030 EUR 70.63
Lehman Brothers Treasury Co 8.00 4/20/2009 EUR 1.21
SpareBank 1 Noetteroey - To 8.25 NOK 53.12
Lehman Brothers Treasury Co 2.00 11/16/2009 EUR 1.21
Petromena ASA 9.75 5/24/2016 NOK 0.57
Lehman Brothers Treasury Co 3.70 6/6/2009 EUR 1.21
Lehman Brothers Treasury Co 7.50 9/13/2009 CHF 1.21
Lehman Brothers Treasury Co 6.00 2/14/2012 EUR 1.21
Lehman Brothers Treasury Co 7.00 2/15/2012 EUR 1.21
Lehman Brothers Treasury Co 15.00 3/30/2011 EUR 1.21
Lehman Brothers Treasury Co 4.69 2/19/2017 EUR 1.21
Lehman Brothers Treasury Co 4.10 2/19/2010 EUR 1.21
Lehman Brothers Treasury Co 6.60 2/22/2012 EUR 1.21
Lehman Brothers Treasury Co 5.20 3/19/2018 EUR 1.21
Lehman Brothers Treasury Co 3.50 10/31/2011 USD 1.21
Lehman Brothers Treasury Co 3.50 10/24/2011 USD 1.21
HSBC Trinkaus & Burkhardt A 11.10 3/24/2017 EUR 68.26
HSBC Trinkaus & Burkhardt A 7.00 6/23/2017 EUR 73.41
HSBC Trinkaus & Burkhardt A 8.20 3/24/2017 EUR 56.58
Municipality Finance PLC 0.50 12/15/2020 BRL 69.59
First Collection Bureau OJS 15.00 10/15/2021 RUB 60.03
DZ Bank AG Deutsche Zentral 7.50 3/24/2017 EUR 72.09
DZ Bank AG Deutsche Zentral 4.00 3/24/2017 EUR 70.24
DZ Bank AG Deutsche Zentral 6.25 3/24/2017 EUR 73.53
UBS AG 10.83 5/15/2017 USD 23.56
HSBC Trinkaus & Burkhardt A 7.90 6/23/2017 EUR 74.94
HSBC Trinkaus & Burkhardt A 8.60 1/27/2017 EUR 73.04
HSBC Trinkaus & Burkhardt A 7.90 1/27/2017 EUR 71.69
HSBC Trinkaus & Burkhardt A 16.10 3/24/2017 EUR 43.62
Credit Suisse AG/London 3.00 11/15/2025 ZAR 61.19
DZ Bank AG Deutsche Zentral 7.00 3/24/2017 EUR 52.75
DZ Bank AG Deutsche Zentral 6.00 3/24/2017 EUR 70.68
DekaBank Deutsche Girozentr 3.50 10/28/2019 EUR 66.97
Bank Julius Baer & Co Ltd/G 5.50 11/6/2017 CHF 61.80
Deutsche Bank AG 7.20 3/21/2017 EUR 70.50
Deutsche Bank AG 9.20 3/21/2017 EUR 71.00
Deutsche Bank AG 9.20 3/21/2017 EUR 68.30
Deutsche Bank AG 5.50 3/21/2017 EUR 74.20
Credit Suisse AG/London 7.00 5/16/2017 CHF 70.49
DZ Bank AG Deutsche Zentral 5.25 3/24/2017 EUR 71.73
Deutsche Bank AG 5.20 3/21/2017 EUR 70.10
UBS AG/London 10.50 11/13/2017 CHF 74.70
Deutsche Bank AG 7.20 6/20/2017 EUR 74.60
Deutsche Bank AG 7.20 6/20/2017 EUR 71.60
DZ Bank AG Deutsche Zentral 7.70 3/24/2017 EUR 74.04
UniCredit Bank AG 5.00 6/22/2017 EUR 72.37
UniCredit Bank AG 5.00 6/22/2017 EUR 73.70
Deutsche Bank AG 7.20 7/26/2017 EUR 73.50
Zurcher Kantonalbank Financ 12.00 11/1/2017 CHF 74.09
Deutsche Bank AG 5.20 6/20/2017 EUR 73.70
Deutsche Bank AG 5.20 6/20/2017 EUR 70.70
Deutsche Bank AG 7.20 6/20/2017 EUR 71.60
Deutsche Bank AG 7.20 6/20/2017 EUR 74.10
Deutsche Bank AG 5.20 6/20/2017 EUR 73.20
Deutsche Bank AG 5.20 6/20/2017 EUR 70.60
UniCredit Bank AG 4.80 6/22/2017 EUR 74.27
UniCredit Bank AG 5.00 6/22/2017 EUR 73.02
UniCredit Bank AG 4.80 6/22/2017 EUR 74.93
Deutsche Bank AG 5.20 7/26/2017 EUR 72.30
Deutsche Bank AG 9.20 7/26/2017 EUR 74.60
Leonteq Securities AG 7.40 11/20/2017 EUR 70.42
Credit Suisse AG/Nassau 7.25 6/14/2017 CHF 66.72
Deutsche Bank AG 6.50 6/20/2017 EUR 75.00
UBS AG/London 4.22 7/30/2018 USD 14.26
UBS AG/London 6.06 1/30/2018 USD 52.84
UBS AG/London 9.30 3/10/2017 EUR 70.47
Lehman Brothers Treasury Co 6.70 4/21/2011 USD 1.21
Lehman Brothers Treasury Co 3.00 9/12/2036 JPY 9.25
Lehman Brothers Treasury Co 4.68 12/12/2045 EUR 1.21
Lehman Brothers Treasury Co 5.22 3/1/2024 EUR 1.21
DekaBank Deutsche Girozentr 2.60 6/15/2018 EUR 71.26
Synergy PJSC 12.90 4/29/2020 RUB 63.00
BNP Paribas Emissions- und 15.00 3/23/2017 EUR 68.69
BNP Paribas Emissions- und 18.00 3/23/2017 EUR 63.12
BNP Paribas Emissions- und 25.00 3/23/2017 EUR 55.14
BNP Paribas Emissions- und 15.00 12/21/2017 EUR 69.97
BNP Paribas Emissions- und 16.00 12/21/2017 EUR 67.60
BNP Paribas Emissions- und 19.00 12/21/2017 EUR 65.63
Vontobel Financial Products 8.35 5/26/2017 USD 72.96
DZ Bank AG Deutsche Zentral 11.50 6/23/2017 EUR 62.74
BNP Paribas Emissions- und 16.00 3/23/2017 EUR 65.65
BNP Paribas Emissions- und 24.00 3/23/2017 EUR 56.99
BNP Paribas Emissions- und 18.00 12/21/2017 EUR 66.51
HSBC Trinkaus & Burkhardt A 5.00 4/28/2017 EUR 65.07
Zurcher Kantonalbank Financ 14.75 5/11/2017 CHF 71.13
IDGC of the North Caucasus 13.00 4/22/2021 RUB 60.00
Commerzbank AG 23.00 4/27/2017 EUR 74.74
Lehman Brothers Treasury Co 13.00 12/14/2012 USD 1.21
Lehman Brothers Treasury Co 5.25 4/1/2023 EUR 1.21
Lehman Brothers Treasury Co 3.00 6/23/2009 EUR 9.25
Lehman Brothers Treasury Co 2.30 4/28/2014 JPY 1.21
Lehman Brothers Treasury Co 4.00 2/28/2010 EUR 1.21
Melhus Sparebank 2.73 9/16/2024 NOK 72.08
Svensk Exportkredit AB 0.50 8/25/2021 ZAR 66.78
Commerzbank AG 20.00 5/28/2018 SEK 65.49
Societe Generale Effekten G 4.00 6/26/2017 EUR 49.64
HSBC Trinkaus & Burkhardt A 7.70 3/24/2017 EUR 73.60
HSBC Trinkaus & Burkhardt A 1.75 8/25/2017 EUR 61.17
Commerzbank AG 4.00 9/8/2017 EUR 66.96
HSBC Trinkaus & Burkhardt A 9.20 6/23/2017 EUR 64.13
HSBC Trinkaus & Burkhardt A 7.20 9/22/2017 EUR 66.72
HSBC Trinkaus & Burkhardt A 4.40 9/22/2017 EUR 70.41
Eiendomskreditt 5.43 NOK 69.75
Lloyds Bank PLC 0.50 7/26/2028 MXN 40.99
Podkarpacki Bank Spoldzielc 5.11 5/28/2023 PLN 51.85
Lehman Brothers Treasury Co 4.05 9/16/2008 EUR 1.21
Immigon Portfolioabbau AG 4.21 1/25/2033 EUR 61.88
Lehman Brothers Treasury Co 7.25 6/20/2010 USD 1.21
Lehman Brothers Treasury Co 7.00 9/20/2011 USD 1.21
Lehman Brothers Treasury Co 4.10 5/20/2009 USD 1.21
Lehman Brothers Treasury Co 2.00 5/17/2010 EUR 1.21
Lehman Brothers Treasury Co 3.82 10/20/2009 USD 1.21
Lehman Brothers Treasury Co 2.75 10/28/2009 EUR 1.21
IT Holding Finance SA 9.88 11/15/2012 EUR 0.11
Lehman Brothers Treasury Co 4.10 8/23/2010 USD 1.21
Lehman Brothers Treasury Co 5.12 4/30/2027 EUR 1.21
Lehman Brothers Treasury Co 7.75 2/21/2016 EUR 1.21
Lehman Brothers Treasury Co 3.63 3/2/2012 EUR 1.21
Lehman Brothers Treasury Co 8.00 12/27/2032 JPY 1.21
Lehman Brothers Treasury Co 0.75 3/29/2012 EUR 1.21
Nota-Bank OJSC 13.50 4/1/2016 RUB 31.50
URALSIB Leasing Co OOO 10.25 3/21/2019 RUB 0.01
Societe Generale SA 0.50 4/30/2023 RUB 61.33
HSBC Bank PLC 0.50 6/9/2023 MXN 57.41
Credit Agricole Corporate & 2.00 7/9/2020 BRL 72.42
Immigon Portfolioabbau AG 4.20 2/22/2033 EUR 61.88
SG Issuer SA 5.50 4/10/2021 EUR 67.20
Podkarpacki Bank Spoldzielc 5.79 3/31/2025 PLN 55.29
Landesbank Hessen-Thueringe 4.00 5/16/2018 EUR 69.68
Syntagma OOO 16.50 5/10/2022 RUB 0.01
Goldman Sachs & Co Wertpapi 23.00 5/24/2017 EUR 73.81
URALSIB Leasing Co OOO 10.50 4/17/2018 RUB 0.01
Notenstein La Roche Private 15.00 12/27/2017 CHF 71.93
Exane Finance 3.00 9/18/2018 USD 72.53
Vontobel Financial Products 18.40 9/11/2017 EUR 69.11
Bank Julius Baer & Co Ltd/G 12.80 9/20/2017 CHF 61.95
Bank Julius Baer & Co Ltd/G 13.85 9/20/2017 CHF 65.70
UBS AG 8.29 9/21/2017 USD 30.40
Leonteq Securities AG 5.20 8/14/2017 CHF 74.76
UBS AG/London 11.00 8/7/2017 USD 72.45
Notenstein La Roche Private 7.20 2/7/2017 CHF 70.25
DekaBank Deutsche Girozentr 4.75 1/20/2017 EUR 66.20
Bank Julius Baer & Co Ltd/G 5.00 8/21/2017 CHF 74.60
Lehman Brothers Treasury Co 2.40 6/20/2011 JPY 1.21
Lehman Brothers Treasury Co 1.60 6/21/2010 JPY 1.21
JP Morgan Structured Produc 3.60 7/17/2017 USD 72.92
Landesbank Baden-Wuerttembe 2.90 7/27/2018 EUR 69.19
Landesbank Baden-Wuerttembe 2.70 7/26/2019 EUR 74.01
Goldman Sachs & Co Wertpapi 5.00 3/22/2017 EUR 73.47
Goldman Sachs & Co Wertpapi 7.00 3/22/2017 EUR 67.52
Goldman Sachs & Co Wertpapi 7.00 6/21/2017 EUR 68.95
Goldman Sachs & Co Wertpapi 5.00 6/21/2017 EUR 73.26
Notenstein La Roche Private 4.20 7/17/2019 CHF 70.98
Vontobel Financial Products 4.65 7/24/2017 EUR 68.00
BNP Paribas Emissions- und 4.00 7/27/2017 EUR 69.90
Bank Julius Baer & Co Ltd/G 6.00 7/24/2017 CHF 69.25
UBS AG/London 7.00 7/17/2017 CHF 56.75
Notenstein La Roche Private 4.00 7/24/2019 CHF 70.36
Notenstein La Roche Private 6.70 7/24/2017 EUR 71.32
Notenstein La Roche Private 7.00 1/24/2017 CHF 67.48
Exane Finance 6.25 12/20/2019 SEK 70.35
Credit Suisse AG/Nassau 6.00 7/31/2017 CHF 74.64
Notenstein La Roche Private 8.99 7/22/2019 EUR 43.98
DZ Bank AG Deutsche Zentral 6.00 3/24/2017 EUR 72.62
DZ Bank AG Deutsche Zentral 7.00 3/24/2017 EUR 72.12
Leonteq Securities AG 5.80 8/24/2017 CHF 74.66
Leonteq Securities AG 5.00 9/4/2018 CHF 58.84
UniCredit Bank AG 3.95 10/7/2019 EUR 68.04
Credit Suisse AG/Nassau 7.25 3/8/2017 CHF 60.76
Goldman Sachs & Co Wertpapi 15.00 3/22/2017 EUR 69.00
Goldman Sachs & Co Wertpapi 14.00 6/21/2017 EUR 71.43
Bank Julius Baer & Co Ltd/G 11.85 8/30/2017 CHF 56.70
Zurcher Kantonalbank Financ 10.00 8/18/2017 CHF 63.65
Goldman Sachs & Co Wertpapi 10.00 3/22/2017 EUR 61.79
Leonteq Securities AG 6.77 8/17/2017 CHF 56.82
Deutsche Bank AG 5.20 3/21/2017 EUR 73.40
Deutsche Bank AG 7.20 3/21/2017 EUR 67.80
Deutsche Bank AG 7.20 3/21/2017 EUR 63.10
Deutsche Bank AG 5.20 3/21/2017 EUR 60.50
Deutsche Bank AG 5.20 3/21/2017 EUR 70.50
Deutsche Bank AG 7.20 3/21/2017 EUR 71.00
Deutsche Bank AG 7.20 3/21/2017 EUR 67.20
Deutsche Bank AG 7.20 3/21/2017 EUR 63.70
Leonteq Securities AG 5.40 8/28/2017 CHF 59.04
UBS AG/London 8.25 8/7/2017 EUR 73.40
Landesbank Baden-Wuerttembe 3.40 9/28/2018 EUR 72.04
Notenstein La Roche Private 7.00 8/11/2017 CHF 72.22
Notenstein La Roche Private 8.02 8/11/2017 EUR 73.12
Credit Suisse AG/London 7.00 2/20/2017 CHF 69.34
DZ Bank AG Deutsche Zentral 3.45 8/25/2017 EUR 72.00
DekaBank Deutsche Girozentr 2.80 7/22/2019 EUR 72.41
Goldman Sachs & Co Wertpapi 3.00 3/22/2017 EUR 70.94
Credit Suisse AG/London 1.64 6/1/2042 USD 48.21
Deutsche Bank AG 7.20 3/21/2017 EUR 73.80
Deutsche Bank AG 5.20 3/21/2017 EUR 67.00
Deutsche Bank AG 5.20 3/21/2017 EUR 67.40
Deutsche Bank AG 7.20 3/21/2017 EUR 65.30
Deutsche Bank AG 7.20 3/21/2017 EUR 61.00
Deutsche Bank AG 7.20 3/21/2017 EUR 59.00
Deutsche Bank AG 7.20 3/21/2017 EUR 67.50
Deutsche Bank AG 5.20 3/21/2017 EUR 64.90
Deutsche Bank AG 5.20 3/21/2017 EUR 62.60
Deutsche Bank AG 5.20 3/21/2017 EUR 58.50
Deutsche Bank AG 7.20 3/21/2017 EUR 74.60
Deutsche Bank AG 5.20 3/21/2017 EUR 68.10
Deutsche Bank AG 5.20 3/21/2017 EUR 66.70
Deutsche Bank AG 5.20 3/21/2017 EUR 63.30
Notenstein La Roche Private 5.02 2/20/2017 CHF 74.98
BNP Paribas Emissions- und 19.00 3/23/2017 EUR 73.59
HSBC Trinkaus & Burkhardt A 10.20 3/24/2017 EUR 71.13
HSBC Trinkaus & Burkhardt A 9.40 3/24/2017 EUR 67.69
HSBC Trinkaus & Burkhardt A 7.30 3/24/2017 EUR 72.58
HSBC Trinkaus & Burkhardt A 14.60 3/24/2017 EUR 46.18
Goldman Sachs & Co Wertpapi 16.00 3/22/2017 EUR 57.39
DekaBank Deutsche Girozentr 3.10 8/4/2017 EUR 55.80
Deutsche Bank AG 3.20 11/22/2017 EUR 72.20
Deutsche Bank AG 3.20 11/22/2017 EUR 71.60
Landesbank Baden-Wuerttembe 4.50 2/24/2017 EUR 72.38
HSBC Trinkaus & Burkhardt A 7.50 3/24/2017 EUR 69.83
Landesbank Baden-Wuerttembe 5.50 2/24/2017 EUR 69.55
Bank Nederlandse Gemeenten 0.50 8/15/2022 ZAR 60.11
DekaBank Deutsche Girozentr 2.75 6/28/2019 EUR 67.35
Goldman Sachs & Co Wertpapi 10.00 3/22/2017 EUR 74.55
Goldman Sachs & Co Wertpapi 14.00 9/20/2017 EUR 70.43
Goldman Sachs & Co Wertpapi 8.00 3/22/2017 EUR 73.38
Goldman Sachs & Co Wertpapi 10.00 3/22/2017 EUR 68.44
Goldman Sachs & Co Wertpapi 12.00 9/20/2017 EUR 67.75
Goldman Sachs & Co Wertpapi 14.00 9/20/2017 EUR 73.30
Lehman Brothers Treasury Co 4.20 12/3/2008 HKD 9.63
Bank Nederlandse Gemeenten 0.50 9/20/2022 ZAR 59.49
Goldman Sachs & Co Wertpapi 9.00 9/20/2017 EUR 71.47
Credit Suisse AG/Nassau 7.00 3/22/2017 CHF 58.98
Goldman Sachs & Co Wertpapi 13.00 3/22/2017 EUR 68.82
Goldman Sachs & Co Wertpapi 16.00 3/22/2017 EUR 64.03
Goldman Sachs & Co Wertpapi 15.00 6/21/2017 EUR 67.48
Goldman Sachs & Co Wertpapi 15.00 3/22/2017 EUR 60.76
Goldman Sachs & Co Wertpapi 8.00 6/21/2017 EUR 74.66
Goldman Sachs & Co Wertpapi 10.00 6/21/2017 EUR 70.64
Goldman Sachs & Co Wertpapi 14.00 6/21/2017 EUR 64.05
Goldman Sachs & Co Wertpapi 10.00 9/20/2017 EUR 70.33
Goldman Sachs & Co Wertpapi 12.00 9/20/2017 EUR 65.90
Goldman Sachs & Co Wertpapi 17.00 3/22/2017 EUR 68.28
BNP Paribas Emissions- und 3.00 10/12/2018 EUR 66.23
Barclays Bank PLC 1.64 6/3/2041 USD 72.23
Leonteq Securities AG 5.60 9/11/2017 CHF 59.65
HSBC Trinkaus & Burkhardt A 7.80 3/24/2017 EUR 73.89
HSBC Trinkaus & Burkhardt A 10.50 3/24/2017 EUR 65.55
HSBC Trinkaus & Burkhardt A 8.20 6/23/2017 EUR 71.22
HSBC Trinkaus & Burkhardt A 7.30 3/24/2017 EUR 61.82
DekaBank Deutsche Girozentr 2.75 6/24/2019 EUR 69.60
Polski Bank Spoldzielczy w 5.29 9/14/2027 PLN 42.50
Municipality Finance PLC 0.50 5/31/2022 ZAR 60.25
Rosbank PJSC 0.01 2/26/2025 RUB 70.00
URALSIB Leasing Co OOO 11.50 2/6/2018 RUB 0.01
Uginvestgerion OOO 12.10 4/1/2020 RUB 0.01
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/booksto order any title today.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Valerie U. Pascual, Marites O. Claro, Rousel Elaine T. Fernandez,
Joy A. Agravante, Julie Anne L. Toledo, Ivy B. Magdadaro, and
Peter A. Chapman, Editors.
Copyright 2017. All rights reserved. ISSN 1529-2754.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.
Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.
The TCR Europe subscription rate is US$775 per half-year,
delivered via e-mail. Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each. For subscription information,
contact Peter Chapman at 215-945-7000 or Nina Novak at
202-362-8552.
* * * End of Transmission * * *