/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/191223.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, December 23, 2019, Vol. 20, No. 255 Headlines G E R M A N Y SC GERMANY 2018-1 UG: DBRS Confirms BB(high) Rating on Cl. D Notes G R E E C E ELLAKTOR SA: Fitch Assigns BB LT IDR, Outlook Stable I R E L A N D OCP EURO 2017-1: Moody's Assigns B3 Rating to EUR8MM Cl. F Notes TYMON PARK: Fitch Affirms B-sf Class E Notes Rating P O L A N D BANK OCHRONY: Fitch Affirms BB- LT IDR, Outlook Stable R O M A N I A TAROM: Romania Set to Provide Two Batches of Funding R U S S I A KRANBANK JSC: Put on Provisional Administration, License Revoked NEVSKY NARODNY: Put on Provisional Administration TATTELECOM PJSC: Fitch Affirms BB LT IDR, Outlook Stable T U R K E Y PETKIM PETROKIMYA: Fitch Affirms B LT IDR, Outlook Stable TURKCELL FINANSMAN: Fitch Affirms B+ LT IDRs, Outlook Now Stable U N I T E D K I N G D O M BEALES: May Put Business Up for Sale Amid Financial Review BOOK PEOPLE: Enters Administration, Seeks Buyer for Business CINEWORLD UK: Moody's Affirms B1 CFR, Outlook Stable HIKMA PHARMACEUTICALS: Moody's Affirms Ba1 CFR, Outlook Stable MARBLE ARCH 4: Fitch Upgrades Class E1C Debt to BB+sf MARKETPLACE ORIGINATED 2019-1: Fitch Rates Class F Debt Final BB-sf THG OPERATIONS: Fitch Assigns 'B+' Final LT IDR, Outlook Stable [*] UK: Million Households Hit by Collapse of Energy Firms X X X X X X X X [*] BOND PRICING: For the Week December 16 to December 20, 2019 - - - - - ============= G E R M A N Y ============= SC GERMANY 2018-1 UG: DBRS Confirms BB(high) Rating on Cl. D Notes ------------------------------------------------------------------ DBRS Ratings GmbH confirmed its ratings on the notes issued by SC Germany Consumer 2018-1 UG (haftungsbeschränkt) (the Issuer) as follows: -- Class A Notes at AA (low) (sf) -- Class B Notes at A (sf) -- Class C Notes at BBB (sf) -- Class D Notes at BB (high) (sf) The rating on the Class A Notes addresses the timely payment of interest and ultimate repayment of principal by the legal final maturity date in December 2031. The ratings on the Class B Notes, Class C Notes, and Class D Notes address the ultimate payment of interest and ultimate repayment of principal by the legal final maturity date. The confirmations follow an annual review of the transaction and are based on the following analytical considerations: -- Portfolio performance, in terms of delinquencies, defaults, and losses as of the December 2019 payment date; -- Probability of default (PD), loss given default (LGD), and expected loss assumptions on the remaining receivables; -- Current available credit enhancement to the notes to cover the expected losses at their respective rating levels. The Issuer is a securitization of consumer loans granted to individuals residing in Germany, originated and serviced by Santander Consumer Bank AG (SCB), a subsidiary of Santander Consumer Finance SA (SCF). The transaction closed in December 2018 with an initial portfolio of EUR 1.6 billion and had a 12-month revolving period, which ended on the December 2019 payment date. PORTFOLIO PERFORMANCE As of the December 2019 payment date, loans 0 to 30 days, 30 to 60 days, and 60 to 90 days delinquent represented 0.4%, 0.3%, and 0.1% of the outstanding portfolio balance, respectively. Loans more than 90 days delinquent amounted to 0.1% of the outstanding principal balance. Gross cumulative defaults stood at 0.4% of the aggregated original portfolio balance. PORTFOLIO ASSUMPTIONS DBRS Morningstar conducted a loan-by-loan analysis of the remaining pool of receivables and maintained its base case PD and LGD assumptions at 6.2% and 80.0%, respectively. CREDIT ENHANCEMENT The subordination of the respective junior obligations provides credit enhancement to the rated notes. As of the December 2019 payment date, credit enhancement to the Class A Notes decreased to 17.9% from 18.5% at the initial rating in December 2018; credit enhancement to the Class B Notes decreased to 13.7% from 14.3%; credit enhancement to the Class C Notes decreased to 9.9% from 10.5%, and credit enhancement to the Class D Notes decreased to 8.6% from 9.3%. The decrease in credit enhancement is a result of defaulted loans since closing and lack of amortization of the notes due to the revolving period, which ended in December 2019. The transaction benefits from a liquidity reserve available upon the occurrence of a servicer termination event to cover senior expenses and interest due on the Class A Notes. The liquidity reserve is amortizing with a target balance equal to 0.5% of the outstanding Class A Notes balance, subject to a floor of EUR 1.0 million. As of the December 2019 payment date, the reserve has remained at its target balance of EUR 6.5 million. The transaction is exposed to potential commingling and set-off risks as debtors may open accounts with the originator and collections are swept to the account bank on each monthly payment date. As a mitigant, SCB in its capacity as servicer and the originator will fund separate commingling and set-off reserves if the DBRS Morningstar rating of SCB's parent company – SCF – falls below specific thresholds or certain ownership thresholds are breached, as defined in the transaction documentation. These reserves continue to be unfunded as neither trigger has been breached to date. HSBC Bank plc acts as the account bank for the transaction. Based on the DBRS Morningstar private rating of HSBC Bank plc, the downgrade provisions outlined in the transaction documents, and other mitigating factors inherent in the transaction structure, DBRS Morningstar considers the risk arising from the exposure to the account bank to be consistent with the ratings assigned to the notes, as described in DBRS Morningstar's "Legal Criteria for European Structured Finance Transactions" methodology. Notes: All figures are in Euros unless otherwise noted. =========== G R E E C E =========== ELLAKTOR SA: Fitch Assigns BB LT IDR, Outlook Stable ---------------------------------------------------- Fitch Ratings assigned ELLAKTOR S.A. a final Long-Term Issuer Default Rating of 'BB' with a Stable Outlook. The agency has also assigned Ellaktor Value PLC's EUR600 million notes issuance a final rating of 'BB' with a Stable Outlook. Fitch initially assigned expected ratings to two separate tranches of senior unsecured notes due 2024 and due 2026. The agency is withdrawing the expected rating of the tranche due 2026 as the company has not proceeded with the notes issue within the previously envisaged structure. RATING RATIONALE The ratings reflect the diversified infrastructure business risk profile of the restricted group whose activities are concentrated in Greece. The concession business benefits from the essential infrastructure character of ELLAKTOR's major and mature toll road concession Attiki Odos - a crucial ring-road around Athens. However, traffic volatility has been high and tariffs flat. The ring road is highly cash-generative but has a short tenor. The renewable energy projects receive fixed tariffs under Greek regulation, and are operated through long-term maintenance contracts with wind-turbine manufacturers. Historical performance has been strong with high availability levels, and cumulative production mostly in line with P50 levels, and only in one year did it fall below 1YP90 levels. The cash-flow stability from renewables improves the overall profile of the restricted group's cash flows. The ring-fencing provides some protection against the contagion from the restructured Moreas motorway and ELLAKTOR's construction business, which has a history of volatile profitability, although it is expected to be downsized in the future. As some residual exposure to the construction activities remains, Fitch will monitor the evolution of this exposure over time. The corporate high-yield debt structure provides some protection in form of ring-fencing and covenants. The exposure to refinancing is mitigated by Fitch's expectation that the company will deleverage significantly until 2023. The Stable Outlooks reflect its expectations of a moderate traffic recovery to continue at Attiki Odos and a successful execution of the renewable capex programme by end-2020. Additionally, it also reflects its expectations that the company will embark on a deleveraging path towards its rating sensitivity trigger in 2023. The ratings were withdrawn with the following reason Forthcoming Debt Issue/Transaction Carrying An Expected Rating Is No Longer Expected to Proceed As Previously Envisaged KEY RATING DRIVERS Rating Approach Fitch rates ELLAKTOR and the notes using its global infrastructure and project finance master criteria. Fitch uses analytical elements of the toll roads, bridges and tunnels sector criteria as well as renewable energy project criteria. Fitch assesses the business risk profile using the volume risk and price risk assessments for both concessions and renewables including environmental business segments and set an overall leverage guidance for the restricted group considering both criteria (mainly toll roads) and peer comparison. In addition to revenue risk (including volume risk and price risk), Fitch has identified infrastructure development and renewal and debt structure as key rating drivers. Concessions Revenue Risk Essential Infrastructure but High Volatility Traffic - Revenue Risk - Volume: Midrange The concession business generating over 70% of the restricted group's EBITDA is underpinned mainly by toll road concessions in Greece. Most of the restricted group's cash flows are generated by Attiki Odos - a crucial ring-road around Athens. Contributions from other minority-owned concessions are insignificant at present. Attiki Odos constitutes essential infrastructure and is a backbone of the road network of the metropolitan area of Athens, the economic and administrative centre of Greece. The catchment area is well-developed but historically has been underperforming. The ring road is a mature concession but with a short tenor of five years. Light vehicles and commuters represent the majority of traffic. Its peak-to-trough traffic decline of 36% puts the ring road among the weakest of its rated toll roads in terms of traffic volatility. However, the severe decline was exacerbated by austerity measures introduced following the Greek debt crisis. To date, traffic has not recovered to its peak. The road benefits from limited competition as inner-city roads can be heavily congested with traffic. In addition, the ring road acts as the main conduit between central Athens and Athens International Airport. Limited History of Tariff Increases - Revenue Risk - Price: Weaker Tariffs on Attiki Odos are subject to an inflation-linked cap but with a limited history of tariff increases. The flat historical toll rates reflect the challenging economic environment since the introduction of the first austerity package in 2010, which led to a substantial reduction in traffic. Although the ring road is free to set its toll rates up to the cap, there is some (contained) political interference. Improving employment, rising disposable income and moderate fiscal loosening could support potential tariff increases. Renewables Revenue Risk Strong Portfolio Performance - Revenue Risk - Volume Risk: Midrange The difference between the P50 and the 1YP90 forecasts is 14% in operating projects. The historical performance of the portfolio has been robust, performing slightly below 1YP90 estimates in only one year, and the portfolio effect (i.e. lower production in one project partially mitigated by higher production in other projects) will mitigate any underperformance in wind farms. The overall assessment of volume risk for the portfolio is 'Midrange' given the difference between P50 and 1YP90. The higher degree of production uncertainty in new projects is partially offset by the strong performance of the current portfolio, as well by the potential portfolio effect. Fixed Tariffs Funded by Consumers - Revenue Risk - Price Risk: Stronger The renewable energy projects of the portfolio have two different types of remuneration. The oldest projects are receiving fixed feed-in-tariffs ("FiTs"), while the remainder is receiving feed-in-premiums ("FiPs"). All except one project originates from the pre-auctions period (before 2017) with tariffs of around EUR90/MWh, fixed during the entire life of the power purchase agreements (PPAs) signed with the market operator. The framework relies on the pass-through to end-consumers, and therefore is assessed as systemic risk. The portfolio mostly comprises wind farms, with only one PV (2MWs) and one hydro (5MW) project in the portfolio. Only projects on the islands (9MWs) are exposed to curtailment due to grid instability. In the past, the electricity system in Greece was subject to retroactive measures to reduce tariffs, with the aim of eliminating the renewables system deficit. The measures achieved their objective, and the deficit used to pay renewables in Greece has disappeared. While wind farms were affected by such measures, the effect was smaller than for other technologies. Projects suffered tariff reduction, but received extended PPAs in some cases. Well-Maintained with Renewable Capacity Expansion - Infrastructure Development and Renewal: Stronger Attiki Odos is a modern motorway with high safety standards and with sufficient capacity to accommodate forecast traffic. Its maintenance and capex planning are well-defined. The two priorities of the investment policy are concessions and renewables. Both are capital-intensive and have high initial capital requirements. The majority of the capex relates to the building-out of the wind farm portfolio with a peak of capex cycle in 2019-2020, with construction well-advanced for many wind farms and completion expected by end-2020. Capex is funded mainly through debt. Funding for capex is already secured. Corporate High Yield Structure - Debt Structure - Midrange The rated senior unsecured notes are issued within a high-yield corporate structure with protection to the noteholders in form of ring-fencing and covenants. Such covenants limit the restricted group's ability to incur further debt, pay dividends or make inter-company payments, all subject to certain baskets. However, the covenant package is looser than in traditional project-finance structures. The financial documentation allows the provision of performance guarantees in favour of ELLAKTOR's construction business but only for projects that the restricted group will directly benefit from. The notes effectively rank parri-passu with other ELLAKTOR's debt (renewable debt) and all the debt of the guarantors in right of payment. However, the notes are subordinated in terms of the security provided to the benefit of the debt used for developing renewable projects. The notes are also structurally subordinated to the debt of the non-guarantor subsidiaries, typically with non-recourse project-finance debt. The notes are bullet and exposed to refinancing risk. The proportion of bullet debt on the restricted group's total debt is 63% as the restricted group's other debt is fully amortising. The debt is partially exposed to interest-rate risk as only the notes are fixed-rate with the other debt being almost completely floating. PEER GROUP French concessions and construction company Vinci S.A. (A-/Positive) and the Italian toll road operator SIAS S.p.A. (BBB+/Negative) are the closest peers. Vinci's key activities mainly include toll road and airport concessions and construction. The toll roads and airports generate the majority of the group's EBITDA. Its toll road network is considerably larger than ELLAKTOR's. In addition, Vinci's consolidated leverage is lower, with a 2019-2021 average of 3.0x, although this offsets the greater volatility of the contracting business. SIAS is the second-largest Italian toll road operator in wealthy north-west Italy. Its average concession tenor is seven years, similar to ELLAKTOR's mature concession Attiki Odos. Fitch-adjusted leverage is expected to peak at 3.8x in 2022. Under a proposed transaction, SIAS will be merged with its parent ASTM. The new group will be firmly anchored in toll roads but will have a modest exposure to the engineering & construction business. RATING SENSITIVITIES Developments That May, Individually or Collectively, Lead to Positive Rating Action An upgrade is unlikely in the immediate future unless Attiki Odos concession is extended or renewed Developments That May, Individually or Collectively, Lead to Negative Rating Action Fitch-adjusted net debt/EBITDAR for the restricted group exceeding 3.0x in 2023 A failure to manage refinancing in a timely manner Loosening of a prudent financial policy Negative rating action on the Greek sovereign TRANSACTION SUMMARY ELLAKTOR is an infrastructure and construction group with a strong position in Greece. The transaction's restricted group consists of concessions (excluding the Moreas Motorway), renewables, and environment business. It excludes the construction and real estate business. Ellaktor Value PLC is the issuer and a wholly-owned subsidiary of ELLAKTOR, which together with other guarantors, guarantees the notes. FINANCIAL ANALYSIS Under Fitch's base and rating cases, Fitch projects five-year average Fitch-adjusted net debt/EBITDAR for the restricted group to reach 2.9x and 3.6x, respectively. Leverage peaks in 2019-2020 with 4.3x in 2019 and 4.0x in 2020 under the rating case as the group reaches the peak of its renewable investment programme. Thereafter, Fitch expects it to embark on a deleveraging path, in line with the shortening of the remaining life of its main toll road concession and renewable portfolio, towards 3.1x by 2023. Fitch Cases Fitch's key assumptions within base and rating case are: Concessions The recovery in traffic on Attiki Odos to continue moderately in line with Fitch's GDP growth forecast with a multiplier of 1.5x under Fitch base case and 1.0x under Fitch rating case The effective toll rate reaching EUR2.45 under Fitch base case and EUR2.4 under Fitch rating case up to 2023; EBITDA margins post-2019 of 68%, other businesses (e.g. Attikes Diadromes) flat contribution; Renewables Fitch uses P50 for its Fitch base case and 1YP90 for its rating case, and in both cases a 2% haircut on production to reflect uncertainty in production forecasts. A 5% stress on operating expenditure has been applied in Fitch rating case, while costs are in line with sponsor's case for Fitch base case. Other Assumptions Between 2019 and 2023, around EUR390 million capex is assumed to be spent under Fitch base case and around EUR430 million under Fitch rating case, reflecting completion of renewable portfolio and investment in Alimos Marina; Dividends assumed at 50% of net income after 2022; and Readily available cash excludes cash proportionally belonging to minority shareholders in Attiki Odos. ESG CONSIDERATIONS Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of 3. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or to the way in which they are being managed by the entity. ============= I R E L A N D ============= OCP EURO 2017-1: Moody's Assigns B3 Rating to EUR8MM Cl. F Notes ---------------------------------------------------------------- Moody's Investors Service announced that it has assigned the following definitive ratings to refinancing notes issued by OCP Euro CLO 2017-1 Designated Activity Company: EUR1,500,000 Class X Senior Secured Floating Rate Notes due 2032, Definitive Rating Assigned Aaa (sf) EUR218,700,000 Class A Senior Secured Floating Rate Notes due 2032, Definitive Rating Assigned Aaa (sf) EUR34,700,000 Class B Senior Secured Floating Rate Notes due 2032, Definitive Rating Assigned Aa2 (sf) EUR20,500,000 Class C Senior Secured Deferrable Floating Rate Notes due 2032, Definitive Rating Assigned A2 (sf) EUR22,600,000 Class D Senior Secured Deferrable Floating Rate Notes due 2032, Definitive Rating Assigned Baa3 (sf) EUR19,200,000 Class E Senior Secured Deferrable Floating Rate Notes due 2032, Definitive Rating Assigned Ba3 (sf) EUR8,000,000 Class F Senior Secured Deferrable Floating Rate Notes due 2032, Definitive Rating Assigned B3 (sf) RATINGS RATIONALE The rationale for the ratings is based on a consideration of the risks associated with the CLO's portfolio and structure as described in its methodology. The Issuer issued the refinancing notes in connection with the refinancing of the following classes of notes: Class A Notes, Class B Notes, Class C Notes, Class D Notes, Class E Notes and Class F Notes due 2030, previously issued on May 11, 2017. On the refinancing date, the Issuer will use the proceeds from the issuance of the refinancing notes to redeem in full the Original Notes. On the Original Closing Date, the Issuer also issued EUR 38.25 million of subordinated notes, which will remain outstanding. Interest and principal amortisation amounts due to the Class X Notes are paid pro rata with payments to the Class A Notes. The class X Notes amortise by 16.67% or EUR 250,000 over the first six payment dates. Class F notes are amortised partially through the interest waterfall. 20% of all remaining interest proceeds available for payment following the payment of the subordinated management fee is used to redeem the Class F notes. As part of this refinancing, the Issuer has set the reinvestment period to 4.6 years and the weighted average life to 8.5 years. In addition, the Issuer has amended the base matrix and modifiers that Moody's has taken into account for the assignment of the definitive ratings. The Issuer is a managed cash flow CLO. At least 90% of the portfolio must consist of secured senior loans or senior secured bonds and up to 10% of the portfolio may consist of unsecured senior loans, second-lien loans, high yield bonds and mezzanine loans. The underlying portfolio is expected to be fully ramped as of the closing date. Onex Credit Partners Europe LLP 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 c.a. four and half-year reinvestment period. Thereafter, subject to certain restrictions, purchases are permitted using principal proceeds from unscheduled principal payments and proceeds from sales of credit risk obligations and credit improved obligations. 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. Methodology Underlying the Rating Action: The principal methodology used in these ratings was "Moody's Global Approach to Rating Collateralized Loan Obligations" published in March 2019. 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. The collateral manager's investment decisions and management of the transaction will also affect the notes' performance. Moody's modeled the transaction using 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 March 2019. Moody's used the following base-case modeling assumptions: Target Par Amount: EUR 350,000,000 Diversity Score: 46 Weighted Average Rating Factor (WARF): 2925 Weighted Average Spread (WAS): 3.42% Weighted Average Coupon (WAC): 4.00% Weighted Average Recovery Rate (WARR): 45% Weighted Average Life (WAL): 8.5 years Moody's has addressed the potential exposure to obligors domiciled in countries with local currency ceiling (LCC) of A1 or below. As per the portfolio constraints and eligibility criteria, exposures to countries with LCC of A1 to A3 cannot exceed 10% and obligors cannot be domiciled in countries with LCC below A3. TYMON PARK: Fitch Affirms B-sf Class E Notes Rating --------------------------------------------------- Fitch Ratings revised the Outlook on Tymon Park CLO DAC's class A-2A, A-2B, B and C notes to Positive. All outstanding classes of notes have been affirmed. RATING ACTIONS Tymon Park CLO DAC Class A-1A-R XS1748399489; LT AAAsf Affirmed; previously at AAAsf Class A-1B-R XS1748400162; LT AAAsf Affirmed; previously at AAAsf Class A-2A-R XS1748400832; LT AAsf Affirmed; previously at AAsf Class A-2B-R XS1748401301; LT AAsf Affirmed; previously at AAsf Class B-R XS1748402028; LT Asf Affirmed; previously at Asf Class C-R XS1748402705; LT BBBsf Affirmed; previously at BBBsf Class D-R XS1748403422; LT BBsf Affirmed; previously at BBsf Class E XS1280877611; LT B-sf Affirmed; previously at B-sf TRANSACTION SUMMARY Tymon Park CLO Designated Activity Company is a cash-flow collateralised loan obligation (CLO) backed by a portfolio of mainly European leveraged loans and bonds. The portfolio is managed by Blackstone/GSO Debt Funds Management Europe Limited. KEY RATING DRIVERS End of Reinvestment Period The Positive Outlook reflects that the transaction will be soon exiting its reinvestment period. Post-reinvestment period, the manager will only be able to reinvest proceeds from sale of credit risk obligations, credit- improved obligations and from unscheduled principal subject to the reinvestment criteria, including among others, that the weighted average life (WAL) test is satisfied on the last day of the reinvestment period and, after the end of the reinvestment period, following any reinvestment. The current WAL of the portfolio is 5.02 years versus the current covenant maximum is 5.34 years (against 7.15 years when notes were being refinanced). In addition, performance has been satisfactory and the transaction is passing all the par value and coverage tests, collateral quality test and portfolio profile tests. 'B' Portfolio Credit Quality Fitch places the average credit quality of obligors in the 'B' range. The Fitch-weighted average rating factor (WARF) of the current portfolio is 32.35 (per Fitch calculation), below the current covenant maximum of 36. The exposure to 'CCC'-rated assets is currently at 2.09%, below the covenant maximum of 7.5%. The portfolio does not contain exposure to defaulted collateral obligations. High Recovery Expectations The portfolio comprises 99.2% of senior secured obligations (above its covenant minimum of 90%). Fitch views the recovery prospects for these assets as more favourable than for second-lien, unsecured and mezzanine assets. The Fitch-weighted average recovery rate (WARR) of the current portfolio is 67.05% (per Fitch calculation), above the current covenant minimum of 60.8%. Diversified Asset Portfolio The transaction's collateral is well-diversified with the 10-largest obligors representing 13.7% of portfolio (below its covenant maximum of 20%). In addition, the three-largest (Fitch-defined) industries in the portfolio are currently at 31.4%, within its covenant limit of 40%. Portfolio Management The transaction is still in its reinvestment period and includes reinvestment criteria similar to other European transactions'. Fitch's analysis is based on a stressed-case portfolio with the aim of testing the robustness of the transaction structure against its covenants and portfolio guidelines. Cash-flow Analysis Fitch used a customised proprietary cash-flow model to replicate the principal and interest waterfalls and the various structural features of the transaction, and to assess their effectiveness, including the structural protection provided by excess spread diverted through the par value and interest coverage tests. Up to 10% of the portfolio can be invested in fixed-rate assets (currently 2.25%), while fixed-rate liabilities represent 5% of the target par. Fitch modelled both 0% and 10% fixed-rate buckets and found that the rated notes can withstand the interest rate mismatch associated with each scenario. The calculation of the effective spread of assets having an interest rate floor does not floor Euribor at zero and therefore leads to an inflated weighted average spread due to the current negative Euribor. In its cash-flow modelling, Fitch has applied a haircut equal to the current 3-month Euribor (ie. 40bp) to the current weighted average spread (WAS) covenant to reflect the WAS overstatement. Long-dated Assets The portfolio as of November 15, 2019 contained two assets (1.8% of portfolio) with a maturity date beyond the legal maturity of the notes on January 21, 2029. They were both present in the portfolio earlier but have been subsequently restructured with a maturity extended to January 31, 2029. For the purpose of cash-flow modelling, these assets are considered as defaulted at final maturity and the transaction receives principal proceeds equal to its recovery assumptions. RATING SENSITIVITIES A 125% default multiplier applied to the portfolio's mean default rate, and with this increase added to all rating default levels, would lead to a downgrade of up to two notches for the rated notes. A 25% reduction in recovery rates would lead to a downgrade of up to four notches for the rated notes. USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10 Form ABS Due Diligence-15E was not provided to, or reviewed by, Fitch in relation to this rating action. =========== P O L A N D =========== BANK OCHRONY: Fitch Affirms BB- LT IDR, Outlook Stable ------------------------------------------------------ Fitch Ratings affirmed Bank Ochrony Srodowiska's Long-Term Issuer Default Rating at 'BB-' with a Stable Outlook and Viability Rating at 'bb-'. The affirmation reflects that there have not been any significant changes to the bank's standalone credit profile since its last rating review. KEY RATING DRIVERS IDRS, NATIONAL RATINGS AND SENIOR DEBT BOS's IDRs, National Ratings and senior debt ratings are driven by the bank's standalone credit strength, as reflected in its VR. The Stable Outlook reflects the broadly balanced risks related to its credit profile. The National Ratings reflect the bank's creditworthiness relative to Polish peers. SUPPORT RATING (SR) AND SUPPORT RATING FLOOR (SRF) The bank's SR and SRF reflect Fitch's view that there is a limited probability of extraordinary sovereign support for BOS given that the Polish resolution framework constrains provision of public support for troubled banks, in line with EU state aid rules. At the same time, the agency believes that the state would endeavour to act pre-emptively to avoid BOS breaching regulatory capital adequacy requirements due to the state's indirect ownership of the bank and the bank's niche role in financing environmental protection projects in Poland. The state-owned National Fund for Environment Protection and Water Resource Management (the Fund) remains BOS's majority shareholder with a 58.1% stake at end-November 2019, while state-related entities overall hold an about 72% share. Fitch believes that it would be difficult for the Fund to increase capital at BOS without triggering state aid and bail-in considerations if private investors demonstrate that they are unwilling to participate in the capital injection. SUBORDINATED DEBT The National Long-Term Rating of BOS's subordinated debt is notched down once from the bank's National Rating for loss severity to reflect below-average recovery prospects. No notching is applied for incremental non-performance risk because write-down of the notes will only occur once the point of non-viability is reached and there is no coupon flexibility before non-viability. VR BOS's VR reflects the bank's weak franchise, less stable business model compared with peers, high exposure to impaired and risky loans and subdued, albeit improving, profitability. Positively, the VR is underpinned by strengthened capitalisation and a reasonable funding profile, supported by a gradually changing funding-mix. BOS is a small universal bank focused exclusively on the domestic market, holding about a 1% share of the banking sector assets. Its expertise, strategic focus and competitive advantage are in financing environmental protection, but its small overall size limits this policy role. The bank's business model has suffered from frequent shifts in strategic objectives coupled with somewhat relaxed risk controls and underwriting standards, which negatively impacted its results. Performance has improved under the current management. However, a return to satisfactory sustainable profitability is likely to be a lengthy and challenging process. BOS's asset quality has gradually improved in the last two years but remains a rating weakness. The bank's impaired loans (Stage 3 loans under IFRS 9) ratio went down to 16% at end-3Q19 (end-2018: 19%) but remains considerably higher than the sector average (about 6%). The coverage of impaired loans by all loan loss allowances improved to 55% at end-3Q19 (end-2018: 43%), mainly due to a reduction in Stage 3 loans, which Fitch expects to continue in 2020. Sector concentrations and tail risk in the bank's exposure to foreign currency (FC) mortgages (78% of Fitch Core Capital (FCC)) weigh on its assessment of asset quality. The bank's exposure to real estate & construction together with the wind farm portfolio constitute about half of the bank's institutional exposure. However, the risk of further credit losses in the wind farm portfolio has decreased since 2018 due to a sustainable improvement in their revenues and relaxed tax legislation. At end-3Q19, only 16% of loans in the wind farm portfolio were classified as impaired (end-2017: 70%). FC mortgages at BOS have generally performed worse than at peers, but Fitch does not expect any further rapid quality deterioration of this portfolio, assuming no economic stress. Its assessment of the bank's capitalisation takes into account relatively stable but still moderate capital levels. Capital encumbrance by unreserved impaired loans has reduced over the last two years, but sector concentration risks in the bank portfolio (i.e. wind farms) still exist. At end-3Q19 BOS's FCC ratio was 14.3% (end-2018: 14.8%) and impaired loans net of loan loss allowances accounted for 44% of bank's FCC (compared with a peak of 132% at end-2016). The Court of Justice of the European Union's (CJEU) ruling heightens the risk that Polish banks may face material losses on their retail FC mortgage books arising from potential legal disputes with customers. In its view, the impact will not be immediate as it will depend on the Polish courts' reaction to the ruling and on the future inflow of litigation brought against banks. The FC mortgage portfolio represented 14% of loans at end-3Q19. These exposures are split about 60/40 between Swiss franc and euro loans. In its view, the potential risks arising from FC-related litigation following the CJEU judgement should be capital-neutral in the short term, as potential losses related to a likely increase in the number of legal cases brought by customers would likely be recognised over an extended period of time. In this scenario, the impact will be partly offset by the regulatory capital relief once these loans, which are 150% risk-weighted, are cancelled or written down. BOS's profitability is more vulnerable than the bank's capitalisation to fallout from potential FC-related litigation, given the bank's modest earnings generation. BOS's weak operating profitability primarily reflects its small size, muted pace of growth and low operational efficiency. Fitch expects a gradual improvement thanks to the changing funding mix (translating into decreased funding costs), contained credit losses and better control of overheads. In 9M19 the operating profit/risk-weighted assets ratio was a low 0.8%. BOS's net income is not burdened by a special bank levy because the bank is under a rehabilitation programme to be completed by 2021. BOS's funding profile benefits from its largely stable loans/deposits ratio (92% at end-3Q19), manageable FC refinancing needs and reasonable coverage of short-term liabilities by liquid assets. The total funding structure has become more deposit-centred since BOS redeemed its senior bonds and part of its subordinated debt in 2018-3Q19. BOS's deposits are granular and largely sourced from private individuals (about 64% share in all deposits). At end-3Q19, the bank's liquidity buffer was solid and equalled about 20% of assets and about 26% of customer deposits. RATING SENSITIVITIES IDRS, NATIONAL RATINGS AND SENIOR DEBT The IDRs, National Ratings and senior debt ratings are sensitive to changes in BOS's VR. The National Ratings are also sensitive to changes in BOS's credit profile relative to its Polish peers. SUBORDINATED DEBT The National Long-Term Rating of BOS's subordinated debt is primarily susceptible to changes in the bank's National Long-Term Rating from which it is notched. The rating is also sensitive to changes in its notching framework, which could arise if Fitch changes its assessment of expected loss severity. SR AND SRF Any upgrade of the SR and upward revision of the SRF would be contingent on a positive change of its assessment of the sovereign's propensity to support BOS. While not impossible, this is highly unlikely, in Fitch's view. BOS's SR could be downgraded and the SRF revised downwards, if the state's indirect ownership in the bank falls below 50%. VR An upgrade of BOS's VR is unlikely given the high uncertainty related to the impact of the CJEU's ruling and the bank's exposure to FC mortgages. Fitch expects to review this impact on the bank's standalone credit profile once more information on contingent liabilities becomes available. Nevertheless, the bank's VR could be positively affected by a broadening of its franchise coupled with a longer record of profitable operation under the current business model, and improvements in its overall credit risk profile. A marked and prolonged weakening in the Polish economy (not Fitch's base scenario) that materially affects the bank's asset quality, capitalisation and profitability could lead to downward pressure on the VR. ESG CONSIDERATIONS Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of 3. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or to the way in which they are being managed by the entity. ============= R O M A N I A ============= TAROM: Romania Set to Provide Two Batches of Funding ---------------------------------------------------- Ch-aviation reports that Tarom is to receive two batches of funding from the Romanian state coffers in order to stabilize the ailing carrier and then to allow it to restructure going forward. According to Ch-aviation, the country's Transport Minister Lucian Bode announced on B1 TV, the Romanian television network, which was then subsequently reported on news.ro, that he will discuss the possibility of handing over EUR157 million (US$175 million) to Tarom with the European Commission in Brussels. The first tranche of EUR47 million (US$52 million) will be packaged as "rescue aid", with the second consignment of EUR110 million (US$122 million) to be allocated as "restructuring aid", Ch-aviation discloses. The minister stated that the money will have to be recovered from the airline by the state, Ch-aviation notes. "At Tarom, things look very bad," Ch-aviation quptes Mr. Bode as saying. "We will close on RON190 million losses [USD44 million] this year. We have around EUR20 million available at this moment in the account." It was also his opinion that the carrier's fleet needs some attention. "It is clear that we need to standardize the fleet." Mr. Bode also blamed his predecessor Razvan Cuc for having presided over a "restructuring plan" which actually saw the airline's staff numbers bloat from 1,700 to 1,900, Ch-aviation relates. Subsequently Cuc announced in August this year that the airline was firing 300 staff as part of restructuring at Tarom, Ch-aviation recounts. =========== R U S S I A =========== KRANBANK JSC: Put on Provisional Administration, License Revoked ---------------------------------------------------------------- The Bank of Russia, by virtue of its Order No. OD-2850, dated December 13, 2019, revoked the banking license of Ivanovo-based Joint-stock Company Kranbank, or JSC Kranbank (Reg. No. 2271; hereinafter, Kranbank). The credit institution ranked 204th by assets in the Russian banking system. The Bank of Russia took this decision in accordance with Clauses 6 and 6.1, Part 1, Article 20 of the Federal Law "On Banks and Banking Activities", based on the facts that Kranbank: -- failed to comply with Bank of Russia regulations on countering the legalization (laundering) of criminally obtained incomes and the financing of terrorism. The credit institution submitted to the authorized body incorrect information about operations subject to obligatory control; -- conducted operations indicative of intention to siphon off assets; -- understated the amount of loan loss provisions to be created. The Bank of Russia estimates that an adequate reflection in the credit institution's financial statements of risks taken will lead to a significant (over 45%) decrease in capital and, consequently, to grounds to take measures to prevent the credit institution's insolvency (bankruptcy), which creates a real threat to the interests of its creditors and depositors; -- violated federal banking laws and Bank of Russia regulations, due to which the regulator repeatedly applied supervisory measures against it over the past 12 months, which included restrictions on household deposit-taking. The Bank of Russia's inspection revealed that most of Kranbank's assets were impaired. The credit institution received an order to make a proper assessment of risks assumed and to reflect its real financial standing in the financial statements. Kranbank made large-value payments under its lease agreements, implying the attempt to siphon off assets. The non-market conditions of these transactions forced the credit institution to make advance payments, which considerably exceeded the cost of leased real estate. The Bank of Russia submitted information about the credit institution's transactions suggesting a criminal offence to law enforcement agencies. The Bank of Russia appointed a provisional administration to Kranbank for the period until the appointment of a receiver or a liquidator. In accordance with federal laws, the powers of the credit institution's executive bodies were suspended. The State Corporation Deposit Insurance Agency (hereinafter, the Agency) involved JSC Zarubezhenergoproekt and Kranbank to act as investors in the bankruptcy prevention measures for JSC CB Solidarnost. Following the revocation of the banking license of Kranbank, JSC Zarubezhenergoproekt will act independently as an investor under the Plan for the Agency to participate in bankruptcy prevention measures for JSC CB Solidarnost. Information for depositors: Kranbank is a participant in the deposit insurance system; therefore depositors6 will be compensated for their deposits in the amount of 100% of the balance of funds but no more than a total of RUR1.4 million per depositor (including interest accrued). Deposits will be repaid by the Agency. For details of the repayment procedure, depositors may call the Agency's 24/7 hotline (8 800 200-08-05) or refer to its website (https://www.asv.org.ru/), the Deposit Insurance / Insured Events section. NEVSKY NARODNY: Put on Provisional Administration ------------------------------------------------- The Bank of Russia, by virtue of its Order No. OD-2848, dated December 13, 2019, revoked the banking license of Saint Petersburg-based Public Joint-stock Company Nevsky Narodny Bank (PJSC Nevsky Bank) (Reg. No. 1068; hereinafter, Nevsky Bank). The credit institution ranked 317th by assets in the Russian banking system. The Bank of Russia took this decision in accordance with Clause 6, Part 1 and Clauses 1 and 2, Part 2, Article 20 of the Federal Law "On Banks and Banking Activities", based on the facts that Nevsky Bank: -- lost its capital as a result of the theft of a major part of its assets; -- violated federal banking laws and Bank of Russia regulations, making the regulator repeatedly apply supervisory measures over the last 12 months. In the first ten days of December 2019, unidentified persons stole cash and securities worth more than RUR3.0 billion from the credit institution. The Bank created required loss provisions for actually non-existent assets and as a result completely lost its capital. Based on the credit institution's claim, law enforcement agencies opened a criminal investigation into the theft of monetary funds The Bank of Russia appointed a provisional administration to Nevsky Bank for the period until the appointment of a receiver or a liquidator. In accordance with federal laws, the powers of the credit institution's executive bodies were suspended. Information for depositors: Nevsky Bank is a participant in the deposit insurance system; therefore depositors will be compensated for their deposits in the amount of 100% of the balance of funds but no more than a total of RUR1.4 million per depositor (including interest accrued). Deposits are to be repaid by the State Corporation Deposit Insurance Agency (hereinafter, the Agency) Depositors may obtain detailed information regarding the repayment procedure 24/7 at the Agency's hotline (8 800 200-08-05) and on its website (https://www.asv.org.ru/) in the Deposit Insurance / Insurance Events section. TATTELECOM PJSC: Fitch Affirms BB LT IDR, Outlook Stable -------------------------------------------------------- Fitch Ratings affirmed Russia-based PJSC Tattelecom's Long-Term Issuer Default Rating and senior unsecured rating at 'BB'. The Outlook on the Long-Term IDR is Stable. Tattelecom is a regional fixed-line incumbent operator in the Russian Republic of Tatarstan (BBB/Stable) with leading or strong market positions in traditional voice telephony, broadband and pay-TV segments. The company's challenger mobile segment is likely to be a key growth driver in the medium term, compensating for a modest contraction of fixed-line services. Fitch expects the company's funds from operations adjusted net leverage to remain moderate, at below 1.5x. The ratings are constrained by the company's small size, resulting in lower profitability and scale synergies versus peers, limited access to capital markets and strategic challenges with mobile development. KEY RATING DRIVERS Established Fixed-Line Incumbent Positions: Fitch expects Tattelecom to retain its strong competitive positions of a regional fixed-line incumbent operator supported by blanket network coverage across its geographical franchise, dedicated regional focus and full bundling capabilities enabled by growing mobile operations. The company estimates its subscriber market shares at about 60% in broadband, over 75% in traditional voice telephony and above 50% in the pay-TV segment as of end-2018. These market shares steadily increased in 2015-2018. Low Growth Outlook: Fitch believes the company is only facing low-to-mid single digit revenue outlook as the saturation of key broadband and pay-TV services is already high, while the competitive environment is intense. Regional broadband penetration has exceeded 75% (by the regional regulator's estimates) limiting further growth. Fitch does not expect any new large scale pricing wars. However, bouts of creeping price competition are likely with operators keen to expand their subscriber bases by offering promotions and incentives to customers that may be induced to switch their provider. Mobile, Pay-TV To Stall: Fitch expects mobile growth to decelerate after strong momentum following the service launch in 2014. The company gained almost 10% subscriber market share in its area of operations by end-2018, and any further efforts to aggressively grow its market share are likely to require significant price reductions and may trigger stronger competitor moves, in its view. Fitch believes Tattelecom is more likely to focus on improving profitability and churn reduction in the mobile segment, which will likely be accompanied by lower headline growth. Fitch also expects pay-TV momentum to slow down. 2019 may be boosted by a switch-off of analogue broadcasting in Tatarstan, with viewers forced to either acquire a free-to-air TV set-top-box or get connected to a pay-TV operator - the latter would be beneficial for Tattelecom. Adjusting for this one-off positive factor, further pay-TV growth will be primarily driven by a gradual increase in the take-up of this service by broadband-only customers, diluted by modest price reductions on the back of heavy promotional activities. Pay-TV is increasingly offered as a complimentary service within a broader bundled service portfolio. Mobile Challenges: Tattle is facing strategic uncertainty over its ability to offer 5G services in the medium to long term. There is no clarity on how 5G spectrum would be awarded and if any 5G wholesale or sufficient regional options would be available. Russia is clearly lagging in terms of 5G spectrum allocation, which alleviates a need to make any strategic 5G choices in the short term and is therefore positive for the company. Tattelecom's mobile operations are likely to remain sub-scale, putting pressure on the segment's and the company's overall profitability. The company is a challenger in a very competitive five-player mobile market. Although Tattelecom managed to rapidly increase its subscriber market share to almost 10% in 2H19 from below 1% at end-2014, its absolute scale remains low as it serviced under one million subscribers in 2019. Strategic Review In Progress: Tattelecom is currently reviewing its strategy after significant management changes in 1H19, with a likely stronger focus on core fixed-line strengths and less emphasis on mobile expansion. Fitch expects cost-cutting and efficiency improvement initiatives to come to the fore, which may support margins in a low growth environment. Fitch views Tattelecom's small size as a strategic constraint, reducing its operational scale benefits and limiting its funding options. Strong Cash Flow: Fitch expects Tattelecom's cash flow generation to remain strong, with the pre-dividend free cash flow (FCF) margin in the mid-to-high single-digit territory, supported by moderate margin improvement on the back of end of the active mobile expansion, cost efficiency initiatives in 2019—2020 and capex discipline. Pre-dividend FCF was exceptionally strong in 2018-2019, with the average Fitch-expected FCF margin of close to 10% due to substantial capex reductions, but Fitch projects capex to rebound to at least 17%-19% of revenues in the medium term. Low Leverage: Fitch expects Tattelecom leverage to remain low, with FFO adjusted net leverage unlikely to exceed 1.5x in the medium term. Fitch believes low leverage fits the company's strategy to have sufficient financial flexibility that may be needed to address mobile and other strategic challenges such as compliance with Yarovaya law. Dividends are pegged to net profit at the core fixed-line unit and are unlikely to significantly grow. Weak Parental Support: Fitch views operational and strategic ties between the company and its controlling shareholder, OJSC Svyazinvestneftekhim (SINEK; BBB-/Stable), as weak. Therefore Tattelecom's rating primarily reflects the company's Standalone Credit Profile. However, it is likely that SINEK would provide liquidity or lobbying support if necessary. DERIVATION SUMMARY Tattelecom's wireline market positions (including all of fixed-line telephony, broadband and pay-TV) are strong in its territory of operations and compare well with those of Rostelecom, the Russian nationwide incumbent telecoms operator. However, Tattelecom is only a regional mobile challenger with significantly lower market share than any of Russian federal mobile operators, PJSC Mobile Telesystems (BB+/Stable), PJSC MegaFon (BB+/Stable), VEON Ltd(BBB-/Stable) and LLC T2 RTK Holding (BB/Rating Watch Positive). It is facing larger and better capitalised competitors. Tattelecom's ratings are lower than its larger peers, reflecting its significantly lower size, limited geographical franchise, constrained funding options and strategic mobile challenges mitigated by its moderate leverage. KEY ASSUMPTIONS Fitch's key assumptions within the rating case for Tattelecom include: - Stable market positions in the fixed-line segments with legacy voice fixed-line revenues continuing to decline by about 10% in 2020-2022 - Modest mobile subscriber market share increases of substantially below 1% per year - Overall low single-digit and decelerating revenue growth in 2020-2022 - EBITDA margin stabilising at 29%-30% in 2019-2022 - Capex intensity increasing to 17%-19% in 2020-2022 - Dividend distributions of slightly above RUB400 million per year in 2019-2022. RATING SENSITIVITIES Developments that May, Individually or Collectively, Lead to Positive Rating Action Rating upside is constrained by the company's small size, its lack of geographical diversification, limited access to capital markets and strategic challenges. Developments that May, Individually or Collectively, Lead to Negative Rating Action - A rise in FFO adjusted net leverage to above 2.5x on a sustained basis. - Cash flow pressures driven by revenue and market share losses, particularly in the broadband and mobile segments. - Deterioration in liquidity or higher refinancing risk. LIQUIDITY AND DEBT STRUCTURE Satisfactory Liquidity. Tattelecom has a satisfactory liquidity position in the short term, with the Fitch-expected amount of cash and cash equivalents of around RUB680 million at end-2019, short-term RUB200 million overdraft facility and pre-dividend FCF of around RUB480 million in 2020, which should be enough to cover RUB1 billion of debt maturing next year. Fitch understands the company can expect to receive substantial liquidity from relationship banks. The company's refinancing exposure is mitigated by its strong relationships with local banks, including the affiliated Ak Bars Bank, relatively low leverage at end-2019 and some flexibility in capex and dividend payments. ESG CONSIDERATIONS Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of 3. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or to the way in which they are being managed by the entity. =========== T U R K E Y =========== PETKIM PETROKIMYA: Fitch Affirms B LT IDR, Outlook Stable --------------------------------------------------------- Fitch Ratings affirmed Petkim Petrokimya Holdings A.S.'s Long-Term Issuer Default Rating at 'B' with a Stable Outlook. The affirmation reflects its view that Petkim's funds from operations adjusted net leverage would remain within its 4x negative rating sensitivity during 2019-2020 despite significant supply-driven pressure across the company's major markets. The impact of the resulting margin squeeze on leverage is partly offset by delayed cash outflows to shareholders including no cash dividends in 2019 and the deferral to beyond end-2019 of the residual USD240 million cash consideration payable to a parent company for the STAR refinery 18% stake. The rating of Petkim reflects its high leverage, small scale and high product concentration relative to larger, diversified global peers. In particular, Petkim owns a single-site petrochemical complex and is exposed to cyclical commodity polymers, which results in inherent earnings volatility. Its business profile benefits from a well-invested asset base and relative resilience to foreign exchange volatility. KEY RATING DRIVERS Thermoplastics Recovery Unlikely Before 2021: Thermoplastic markets remain under pressure as significant capacities, including those from the US with cheap gas, arrived both in 2018 and 2019. Fitch expects that the pace of new capacity arrivals will moderate from 2020. However, Fitch believes it will take time for growing demand to digest new supply, with market pressure extending into 2020 and recovery starting from 2021. Over the long-term Fitch believes that global plastics demand will remain slightly above global GDP growth, although in certain markets growth might be impacted by rising environmental concerns, including those around single-use plastics. Spreads Turnaround Delayed to 2020: The earnings of Petkim reflect the spread of its products to naphtha, its major feedstock. Fitch now expects that spread pressure will bottom out in 2020, instead of 2019 as envisaged earlier, for thermoplastics representing nearly half of Petkim's non-trading revenues. The pressure partly comes from oversupply in polyethylene (PE, 60%-65% of Petkim's plastics sales) where spreads to naphtha will remain low in 2020 due to another 3 million tonnes of US ethylene capacities being added in 2019. While supply-driven price pressure is not uniform across markets, Fitch sees this as a key driver for earnings to bottom out in 2020 and to gradually recover from 2021. Turkish Lira Impact Manageable: Petkim has almost 90% of its plant production costs, or 80%-85% of total cash costs, denominated in US dollars as its major feedstock, naphtha, is purchased at US dollar price. Simultaneously, the majority of sales is directly denominated in US dollar and euros, or indirectly driven by lira price indexation to the global US dollar benchmarks. This supports Petkim's EBITDA during the periods of lira devaluation, thus largely offsetting the company's hard-currency debt revaluation. FX volatility could also have indirect implications such as weaker domestic demand, although Petkim can choose to re-route its products to export markets. STAR Launch Adds to Earnings: In late 2018 Petkim's ultimate corporate parent, State Oil Company of the Azerbaijan Republic (SOCAR, BB+/Stable), launched a new STAR refinery located next to Petkim's plants in Turkey with annual oil refinery capacity of 10mt. As a result, Petkim expects to have around USD40 million annual savings on logistic costs from mid-2019 as STAR ramped up. The refinery supplies up to 1.6 million tonnes (mt) of naphtha and 270 thousand tonnes of mixed xylene and/or reformate feedstock to Petkim annually. STAR Stake Purchase Smoothed: Fitch expects that Petkim will be able to adjust the timing of the last of three equal USD240 million instalments for its 18% stake in STAR in case of need, thus minimising its impact on cash flows in 2019-2020 as market pressure persists. The first two instalments were paid in 2018, funded by a USD500 million bond placement. Fitch conservatively adds the outstanding USD240 million payment to Petkim's adjusted debt. Leverage Peak in 2020: FFO-adjusted net leverage trend will follow Petkim's earnings and peak in 2020 at around 4x before declining towards 3x in 2021-2022 as markets recover. The factors preventing Petkim from higher 2019 and 2020 leverage include prudent capex and zero cash dividends for 2019 and 2020. Petkim demonstrated its ability to suspend cash dividend payments, if required, in 2019 and Fitch believes this will continue in 2020 as its operating cash flows generation will remain subdued. Small Scale Commodity Player: Petkim is a Turkish commodity chemical producer, making plastics and intermediates from naphtha. Petkim has benefited from a widened naphtha-ethylene spread since 2014 when oil prices were rebased. However, Fitch forecasts that the increase in global ethylene and polymer production, mainly in the US and Middle East on the back of cheap gas, will put pressure on petrochemical margins for unintegrated players, including Petkim, in 2019 and partly in 2020. Petkim's small scale and single-site operations are key factors driving the company's business profile in the 'B' category. Contingent Liabilities of STEAS: Petkim is 51%-owned by STEAS, which in turn is 87%-owned by SOCAR and 13% by Goldman Sachs. Petlim, a container terminal in the Aegean Region operating since 4Q16, is 70%-owned by Petkim and 30%-owned by Goldman Sachs. Goldman Sachs has put options with STEAS and SIL (subsidiary of SOCAR) until 2021 protecting the value of its stakes in STEAS and Petlim. Should these options be exercised, STEAS would incur liabilities of up to USD1 billion in respect of STEAS, and USD300 million in respect of Petlim, with the remaining of USD300 million to be paid by SIL. While this is not its base case scenario, this could result in pressure on Petkim to upstream additional cash to STEAS. Rating on Standalone Basis: SOCAR's IDR is aligned with that of Azerbaijan (BB+/Stable) while its standalone credit profile corresponds to 'b+'. Under Fitch's Parent and Subsidiary Rating Linkage methodology, Fitch has not factored in any uplift on Petkim's rating from SOCAR's ownership since Fitch does not view support from the Azerbaijan government as the most likely scenario and Fitch assesses the overall links between SOCAR and Petkim as moderate. This assessment captures moderate legal ties between the two companies (which takes into account lack of legal guarantees but also assumes Petkim being subject to cross-default provision in SOCAR's bond documentation), moderate strategic and strong operational ties. DERIVATION SUMMARY Russia-based PJSC Kazanorgsintez (B+/Stable) is Petkim's closest rated peer based on product mix (basic polymers) and geographical concentration. Kazanorgsintez benefits from its more competitive cost position, higher EBITDA margins (on average over 25%) and from a stronger financial profile with FFO adjusted net leverage of under 1x. Petkim, in turn, benefits from wider product diversification while Kazanorgsintez's revenues are more concentrated towards polyethylene. Other Fitch-rated, commodity-focused EMEA chemical companies include AI PLEX AcquiCo GmbH (B(EXP)/Stable), PAO SIBUR Holding (BBB-/Stable), Ineos Group Holdings S.A. (BB+/Stable). AI PLEX benefits from a leading position in the methacrylates business in Europe with better geographical diversification but is more leveraged than Petkim. Ineos' business profile is in the 'bbb' category with better product and geographical diversification and larger scale. SIBUR as well as US-based Westlake Chemical Corporation (BBB/Stable) and NOVA Chemicals Corporation (BB+/Negative) benefit from competitively-priced petrochemical feedstock, placing them in a more advantageous position versus less integrated players such as Petkim. KEY ASSUMPTIONS - Naphtha price following the crude oil price of USD62.5/bbl in 2020, USD60/bbl in 2021, and USD57.5/bbl thereafter - USD/TRY at 6.3 in 2020, and 6.9 in 2021 - Thermoplastics margins pressuring EBITDA towards USD220 million in 2020 (TRY1.4 billion) before a market-driven recovery towards USD240 million - USD250 million (TRY1.7 billion) from 2021 - Trading operations to increase, partly diluting forecast EBITDA margin for 2020-2022 - Low double-digit EBITDA margin over 2019-2022 - Capex-to-sales at around 4% over 2019-2022 - Cash dividends pay-out suspended in 2019 and 2020, before resuming from 2021 - The last USD240 million instalment related to the 18% stake purchase in the STAR Refinery to be paid in 2020-2021 The recovery analysis assumes that Petkim would be considered a going-concern in bankruptcy and that the company would be reorganised rather than liquidated. Fitch has assumed a 10% administrative claim. The going-concern EBITDA is 2020 forecast EBITDA, which better reflects the operational profile of Petkim going forward (with benefits from synergies with the STAR Refinery), discounted by 10%. An enterprise value (EV) distressed multiple of 4x is applied. The payment waterfall corresponds to a 'RR3' recovery for the senior unsecured rating. However, in line with its methodology, Fitch applies a soft cap of 'RR4' to reflect Petkim's asset location in Turkey. RATING SENSITIVITIES Developments That May, Individually or Collectively, Lead to Positive Rating Action - FFO adjusted net leverage consistently below 3.0x (2018: 3.5x); and - Significant improvement in cash flow diversification, e.g. higher cash flow generation at Petlim and dividends from the STAR refinery. Developments That May, Individually or Collectively, Lead to Negative Rating Action - FFO net adjusted leverage sustained above 4.0x; - Support provided to the parent resulting in higher leverage (e.g. cash outflows related to put options being called by Petlim and STEAS's minority shareholder); and - Material deterioration in the outlook for petrochemical margins. LIQUIDITY AND DEBT STRUCTURE Limited Liquidity: Petkim's liquidity was strained at end-September 2019, with cash and deposits of TRY3.4 billion slightly below short-term debt of TRY3.5 billion. Current debt is mostly used to finance working capital, including TRY1.1 billion of liabilities resulting from letters of credit for naphtha procurement that Fitch treats as debt. Petkim's debt maturity profile reflects some reliance on domestic banks. This is not uncommon among Turkish corporates but exposes the company to systemic liquidity risk and results in a liquidity ratio being close to 1x. The rest of total debt has remote maturity dates, including mainly a USD500 million bond due in 2023. SUMMARY OF FINANCIAL ADJUSTMENTS - TRY16 million operating lease expenses were capitalised and added to debt with 5x multiple as the issuer operates in Turkey - TRY1,263 million (USD240 million-equivalent) residual commitment to pay for the 18% stake in STAR refinery treated as off-balance sheet debt - TRY1,523 million of letters of credit arising from naphtha purchases treated as debt ESG CONSIDERATIONS Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of 3. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or to the way in which they are being managed by the entity. TURKCELL FINANSMAN: Fitch Affirms B+ LT IDRs, Outlook Now Stable ---------------------------------------------------------------- Fitch Ratings revised the Outlook on Turkcell Finansman A.S.'s Foreign- and Local-Currency Long-Term Issuer Default Ratings to Stable from Negative, and affirmed the IDRs at 'B+'. The rating action reflects the rating action recently taken on TFS's parent, Turkcell Iletisim Hizmetleri A.S. KEY RATING DRIVERS TFS's ratings are based on potential support from its parent, Turkcell. Fitch believes Turkcell would have a strong propensity to support TFS given (i) its 100% stake and full operational control; (ii) the close integration of the subsidiary with its parent; and (iii) TFS's role in customer base acquisition for Turkcell. The one-notch difference between the ratings of Turkcell and TFS reflects the subsidiary's focus on a different segment (finance rather than telecom services). Fitch also considers TFS's short operating history and different branding, which in Fitch's view, moderately reduce the reputational risk for the parent or potential negative impact on other parts of Turkcell in case of TFS's default. The Stable Outlook reflects that on its parent. RATING SENSITIVITIES IDRs and National Ratings As TFS's IDR is anchored to Turkcell's IDR, changes to the latter will be reflected on the subsidiary. Turkcell's IDR is currently at the level of Turkey's sovereign IDR of 'BB-' and may move in line with it. An equalisation of TFS's ratings with those of Turkcell is unlikely because TFS's business segment (finance) is less important to Turkcell than its core telecom business. A weakening of TFS's strategic importance or Turkcell's propensity or ability to support TFS may result in a widening of the notching from the parent. TFS's National Long-Term Rating is primarily sensitive to changes in Turkcell's ability or propensity to provide support. =========================== U N I T E D K I N G D O M =========================== BEALES: May Put Business Up for Sale Amid Financial Review ---------------------------------------------------------- Scott Reid and Holly Williams at The Scotsman report that Beales, the department store chain with a store in Perth, has confirmed it is putting itself up for sale as it reviews its refinancing options amid tough high street conditions. According to The Scotsman, the Bournemouth-headquartered group, which at 138 years old is one of Britain's oldest department store businesses, said it had launched a formal sale process as part of a strategic and financial review being led by KPMG, though a sale remains just one option under consideration. While Beales is reportedly looking at a small number of store closures and moves to slash rents, the group said it also wants to look at buying sites to expand a format that has seen early successes in its new Fareham branch, The Scotsman relates. Beales, which was founded in 1881 by John Elmes Beale, employs some 1,300 staff and another 300 in concessions across its 22 stores. It was sold in a management buy-out to group chief executive Anthony Brown in October last year. BOOK PEOPLE: Enters Administration, Seeks Buyer for Business ------------------------------------------------------------ Business Sale reports that online and pop-up book retailer The Book People has gone into administration, announcing that it has appointed advisers from PricewaterhouseCoopers. According to Business Sale, PwC administrators have said that there will be no immediate redundancies and that trading will continue as normal as administrators seek to secure a rapid sale of the business. All orders already placed for Christmas are due to be fulfilled, Business Sale notes. Private equity firm Endless acquired the company in 2014, Business Sale recounts. The Book People make sales of GBP71 million, but its profits fell to GBP1.1 million from GBP6.2 million the year before, with the company's debts then at GBP33 million, Business Sale discloses. Discussing the company's problems, Endless partner James Woolley, as cited by Business Sale, said: "The well-documented challenges in the retail environment compounded by the strength of global online booksellers, has severely impacted operating cashflows over recent years." "While the administrators have funding to meet the payroll for December, the longer-term prospects for the business, staff, customers and suppliers will clearly be dependent upon whether a sale can be secured," Business Sale quotes joint administrator and PwC partner Toby Underwood as saying. The Book People was founded in 1988 in Godalming, Surrey by Ted Smart and Seni Glaister. The company employs nearly 400 staff and operates from a warehouse in Bangor. CINEWORLD UK: Moody's Affirms B1 CFR, Outlook Stable ---------------------------------------------------- Moody's Investors Service affirmed the B1 corporate family rating and the B1-PD probability of default rating of Cineworld UK Holdco Limited. Concurrently, Moody's has also affirmed the B1 ratings of the outstanding USD3,375 million and the EUR212 million of Senior Secured Term Loan B borrowed by Crown Finance US, Inc. and the USD462.5 million Senior Secured Revolving Credit Facility borrowed by Cineworld UK Holdco Limited. The outlook for both entities remains stable. The rating action follows Cineworld's announcement that it has agreed to acquire Cineplex, leading cinema operator in Canada with a 75% box office market share. The acquisition implies an enterprise value for Cineplex of C$2.8bn (US$2.1bn) and a 2019E EBITDA multiple (including combination benefits) of 6.3x. The acquisition will be 100% debt funded and subject to Cineworld's and Cineplex's shareholder approval, and other regulatory approvals, completion is expected to occur by the end of H1 2020. "Cineworld's B1 corporate family rating will be weakly positioned in the rating category following the acquisition of Cineplex. While the acquisition will be strategically positive, it will result in high leverage for Cineworld of 5.6x on a 2019E Moody's adjusted Gross Debt/ EBITDA basis, pro-forma for the transaction," says Gunjan Dixit, a Moody's Vice President -- Senior Credit Officer and lead analyst for Cineworld. "Although the box office will likely not be particularly strong in 2020, we expect the company to de-lever towards 5.0x by the end of 2020 mainly helped by EBITDA growth from synergy realization as well as some debt reduction", adds Ms. Dixit. RATINGS RATIONALE De-leveraging in 2020 will be supported by EBITDA growth driven by synergy realization from Cineplex (USD120 million of synergies expected to be realized in 2020) and Regal (additional USD40 million in 2020) acquisitions supporting free cash flow generation, repayment of the USD202 million payment to dissenting Regal shareholders and some reduction in IFRS16 combined operating lease liability as the company plans to renew some leases on more favourable terms. Performance of Cineworld in H12019 (revenue decline year-on-year of 11.1%) has suffered from weak film slate, closure of a number of non-performing sites as well as the absence of the unlimited subscription programme in the US. Moody's positively notes that the company has integrated Regal operations well and has upsized its 2020 synergy target by 90% to USD190 million including additional USD40 million of synergies targeted to be realized during the year. The closure of non-performing theatres is complete as well as major refurbishment work is well advanced and the company has also launched the unlimited programme in the US in July 2019. Q32019 has shown some signs of improvement coming from the launch of the unlimited subscription programme. Moody's expects 2019 to see revenue declines of 4.5%-5.5% for Cineworld (standalone excluding Cineplex) supported mainly by a strong December. While the film slate for 2020 does not appear to be particularly strong with fewer franchise sequels (and Avatar postponed to 2021), Moody's expects the company's overall revenue performance to improve over 2019 as the year was exceptionally impacted by the restructuring/ integration of Regal in H1. With the acquisition of Cineplex, Cineworld will become the #1 player in North America. The enlarged business would have 11,204 screens with 951 sites. The Canadian market although closer to the US, remains comparatively underpenetrated in terms of admissions per capita, number of screens per million and average ticket price, providing room for growth. Future growth of Cineplex is likely to be supported by the opening of 2-3 theatres per year. Cineworld expects to realize USD130 million of synergies from this acquisition with USD120 million targeted to be achieved in year one. In this regard, Moody's takes good comfort from company's track record of delivering synergies associated with Regal's acquisition. The B1 CFR assigned to Cineworld reflects its: (1) position as a leading international cinema exhibitor with strong market positions in its markets of operation. Scale is a powerful barrier to entry and should drive economies in film rental and concession procurement; (2) good geographical diversification with operations in 11 national markets; (3) the value inherent in control of the "first run window"; (4) the quality of the group's estate; (5) the resilience of the industry over many years, driven by the strong value proposition; and (6) the stated financial policy and experienced management team. The CFR also reflects (1) the relative maturity of the industry in the UK and US, with declining attendance trends in the US; (2) the reliance on Hollywood major studio output and seasonality of earnings; (3) increasing alternative use of viewing online, including increase in streaming services from competitors, (4) the high gross starting leverage; and (5) the acquisition and integration risks associated with a deal the size of the Cineplex transaction. Cineworld has adequate liquidity, despite some high sequential free cash flow volatility as a result of seasonal working capital swings, which are standard for the industry. As of June 30, 2019, Cineworld had a cash balance of USD173 million. The company also has access to a USD462.5 million revolving credit facility (RCF; maturing in February 2023), which was drawn by USD250 million as of June 30, 2019. Moody's expects the drawings to be repaid by the year-end. The company's capital spending is likely to increase in 2020 as it will continue to open new sites and undertake substantial refurbishments of existing sites. The agency expects this capital spending to be financed with organic cash flow generation. Nevertheless, given the discretionary nature of these investments, capital spending could be reduced in case of underperformance. The RCF has a springing covenant, tested once utilisation exceeds 35%. This financial covenant is a maximum total net leverage of 5.5x, stepping down to 5.0x from and including June 30, 2021. From a social risk standpoint, cinema operators will face changes in the way consumers access content due to the increasing competition from online streaming services, among others. From a governance perspective, Moody's notes the company's tolerance for large debt-funded acquisitions as demonstrated by the announced purchase of Cineplex which follows the acquisition of Regal Entertainment Group in 2018. RATIONALE FOR THE STABLE OUTLOOK The stable outlook reflects the expectation that Cineworld will close the acquisition of Cineplex in accordance with the timetable outlined and on the terms announced. The stable outlook incorporates Moody's expectations that the company will (1) deliver EBITDA growth and positive free cash flow sufficient to de-lever the business to below 5.25x in the next 12 months, (2) maintain its market share, and (3) refrain from further debt-financed acquisitions while keeping its existing financial policy. WHAT COULD CHANGE THE RATINGS DOWN/ UP Moody's could consider a negative rating action if (1) free cash flow turned negative, on a sustained basis; or (2) leverage (Moody's adjusted debt-to-EBITDA) does not reduce below 5.25x within 12 months. A negative rating action could also be considered if liquidity weakened, attendance deteriorated, margins fell, there was a loss in market share, or the company's scale or diversity was diminished. Moody's could also consider a downgrade if there were material and negative changes in competition, financial policy, capital structure, or the business model such that there is a material increase in credit risk. Given the maturity of the industry in the UK and the US, limited opportunities for growth and the secular decline in US attendance, driven by the rise in competitive threats, an upgrade is unlikely in the next 18 months. However, Moody's could consider an upgrade if: (1) leverage (Moody's-adjusted gross debt/EBITDA) is sustained below 4.25x; and (2) debt coverage (Moody's-adjusted free cash flow/debt) is sustained above 5%. LIST OF AFFECTED RATINGS Issuer: Cineworld UK Holdco Limited Affirmations: Probability of Default Rating, Affirmed B1-PD Corporate Family Rating, Affirmed B1 Backed Senior Secured Bank Credit Facility, Affirmed B1 Outlook Action: Outlook, Remains Stable Issuer: Crown Finance US, Inc. Affirmation: Backed Senior Secured Bank Credit Facilities, Affirmed B1 Outlook Action: Outlook, Remains Stable PRINCIPAL METHODOLOGY The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. COMPANY PROFILE Cineworld Group plc was founded in 1995 and listed its shares on the London Stock Exchange in May 2007. The Company has grown through expansion and by acquisition to become one of the leading cinema groups in Europe. Cineworld currently operates 9,498 screens across 786 sites in the US, UK and Ireland, Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Israel. The largest shareholder in Cineworld is Global City Holdings B.V., a Greidinger Family holding vehicle, which holds approximately 28% of the quoted equity. Pro forma for the Cineplex acquisition at December 31, 2018, the group had LTM revenues of USD5,933 million and EBITDA of USD1266 million. HIKMA PHARMACEUTICALS: Moody's Affirms Ba1 CFR, Outlook Stable -------------------------------------------------------------- Moody's Investors Service affirmed all the ratings of London-listed generic drug company Hikma Pharmaceuticals PLC, comprising the Ba1 corporate family rating, the Ba1-PD probability of default rating and Ba1 instrument rating on its existing senior unsecured bond. The outlook on all ratings is stable. RATINGS RATIONALE The affirmation of the Ba1 CFR is supported by the company's recent good performance against price pressures, in particular in the US, its good product pipeline of over 300 products across business segments and geographies, and strong credit metrics as a result of a conservative balance sheet structure. However, those factors are balanced by (1) the company's relatively small scale of over $2 billion sales and moderate margins from its somewhat commoditized portfolio compared to generics peers, (2) the expected slowdown in organic growth primarily driven by continued downward pricing pressure in the retail generic market in the US, (3) the risk of political instability in the Middle East and North Africa region, and (4) acquisition-related event risk. Since 2017, Hikma's sales volumes have been driven by some product differentiation and also benefitted from certain drug shortages in the US market (the region represents 66% of Hikma's revenue), as well as capacity expansion. Its revenue grew up to 7% organically year-on-year, reaching $2.1 billion for the last 12 months ended June 30, 2019, compared with $1.9 billion in full year 2017. Its core operating profit margin has also improved driven by the increasing scale and production efficiencies, as well as product mix shift to more complex therapies and chronic diseases. In 1H 2019, Hikma's revenue was up by 6.5% year-on-year to $1 billion and its core EBITDA reached $288 million, up by 14%, supported by (1) strong demand for its non-injectable generics in-market portfolio and increasing sales volumes benefitting from certain drug shortages in its Injectables business, (2) its solid growth in injectables business, with higher entry barriers as it focuses on complex products with R&D investments, and (3) effective cost control, including some restructuring initiatives. As a result, the group has maintained a Moody's-adjusted EBITDA margin around 24-25% following the Roxane acquisition, albeit somewhat below that of peers. Hikma's cash flow conversion and generation has been consistent since 2017, reflected by annual free cash flow generation (defined by Moody's) in the range of $130-160 million. It is supported by the moderate dividend payout ratio of 20-30% of core net income, limited non-recurring cash items and a low interest burden, despite capex spend in the range of 7 -- 10% per annum and ongoing working capital usage. Therefore, Hikma was able to bring down its Moody's-adjusted gross debt to $750 million as of June 2019, $200 million lower than December 2016. Accordingly, Moody's-adjusted gross debt/EBITDA for Hikma reduced to 1.4x as of June 30, 2019 from 2.3x for the year end 2016. Moody's expects that the company's organic growth will be in the low-to-mid single digits in percentage terms over the next 12-18 months, backed by product pipeline approvals and launches. As of the end of 2018, Hikma had over 300 products in its pipeline spanning all three business segments, with targeted sales in all geographies. The rating agency forecasts that Hikma will maintain adjusted gross debt/EBITDA around 1.2x -- 1.4x over the next 12-18 months, assuming the $500 million bond maturing in April 2020 is refinanced. The moderate deleveraging is supported by Hikma's earnings growth from launch of product pipelines and capacity expansion. Governance considerations for Hikma's credit profile are generally positive and include its track record of conservative balance sheet management. The company has been operating well below its leverage policy of under 3x net debt/EBITDA for over a decade. Hikma has also demonstrated prudent acquisition strategies and funding, particularly for its latest and largest: the funding for Roxane in 2016 consisted of a $575 million upfront cash payment and $1,044 million issuance of new shares to seller Boehringer Ingelheim (plus a $224 million contingent consideration and a $118 million purchase price adjustment). Social risks that Moody's considers in Hikma's credit profile principally include downward price pressure, particularly in US generics, product safety and manufacturing compliance issues, as well as political instability in the MENA region which could adversely impact the stock levels and sales. LIQUIDITY Hikma's liquidity is adequate. At the end of June 2019, the company had $322 million of cash on balance sheet. Liquidity is further supported by its expectations of positive free cash flow well over $100 million per annum in 2019-2020 and access to a fully undrawn $1,175 million revolving credit facility (RCF), of which $175 million mature in December 2019 and the remainder in December 2021. Although Hikma will not be able to address the April 2020 $500 million bond maturity entirely through available cash, committed facilities and cash balances together would be sufficient to repay this instrument. Moody's also expects that Hikma will maintain ample headroom under its financial maintenance covenants, applicable to the RCF and certain other committed facilities. WHAT COULD CHANGE THE RATING UP/DOWN The rating could be upgraded if the company was able to increase the scale of the business and continued to demonstrate a track record of organic growth. An upgrade would also require the company to maintain Moody's-adjusted (gross) debt/EBITDA below 2.0x on a sustained basis and increase Moody's-adjusted EBITDA margin sustainably to the high 20s in percentage terms. The rating could be downgraded if Moody's-adjusted (gross) debt/EBITDA was to remain above 3.0x on a sustained basis, and the group's free cash flow generation turned negative on a sustained basis, leading to a deterioration in Hikma's liquidity profile. PRINCIPAL METHODOLOGY The principal methodology used in these ratings was Pharmaceutical Industry published in June 2017. CORPORATE PROFILE Hikma Pharmaceuticals PLC is a medium-sized manufacturer of generics and branded generics organised along three business segments: Injectables, Generics, and Branded across US, MENA, Europe and RoW regions. In the last 12 months to June 30, 2019, the group generated revenue of $2.1 billion and reported core EBITDA of $584 million. The company was founded by Samih Darwazah in 1978 in Jordan and has been listed on the London Stock Exchange since 2005. The founder's family remains invested in the group and holds a 25% stake through family-owned investment vehicle Darhold Limited whilst the second largest shareholder is Boehringer Ingelheim, which received a 17% stake in Hikma when it sold Roxane to the group. MARBLE ARCH 4: Fitch Upgrades Class E1C Debt to BB+sf ----------------------------------------------------- Fitch Ratings upgraded and affirmed Marble Arch Residential Securitisation Ltd No 4 and ResLoc 2007-1 as detailed. RATING ACTIONS ResLoC UK 2007-1 plc Class A3a XS0300468385; LT AAAsf Affirmed; previously at AAAsf Class A3b XS0300470365; LT AAAsf Affirmed; previously at AAAsf Class A3c 76116WAW0; LT AAAsf Affirmed; previously at AAAsf Class B1a XS0300474193; LT AA+sf Upgrade; previously at AAsf Class B1b XS0300474607; LT AA+sf Upgrade; previously at AAsf Class C1a XS0300474789; LT AA-sf Upgrade; previously at A-sf Class C1b XS0300475083; LT AA-sf Upgrade; previously at A-sf Class D1a XS0300475323; LT BBB+sf Upgrade; previously at BBsf Class D1b XS0300476057; LT BBB+sf Upgrade; previously at BBsf Class E1b XS0300477022; LT BBBsf Upgrade; previously at Bsf Class M1a XS0300473203; LT AAAsf Affirmed; previously at AAAsf Class M1b XS0300473542; LT AAAsf Affirmed; previously at AAAsf Marble Arch Residential Securitisation Ltd No 4 Class B1a XS0270496994; LT AAAsf Affirmed; previously at AAAsf Class B1b XS0270510224; LT AAAsf Affirmed; previously at AAAsf Class B1c XS0270513756; LT AAAsf Affirmed; previously at AAAsf Class C1a XS0270497612; LT AAAsf Upgrade; previously at AA+sf Class C1c XS0270513830; LT AAAsf Upgrade; previously at AA+sf Class D1a XS0270498180; LT BBB+sf Affirmed; previously at BBB+sf Class D1c XS0270513913; LT BBB+sf Affirmed; previously at BBB+sf Class E1c XS0270514309; LT BB+sf Upgrade; previously at B+sf TRANSACTION SUMMARY The transactions comprise UK non-conforming residential mortgages originated by the London Mortgage Company and London Personal Loans Limited for MARS 4 and a combination of mortgage loans that were either originated by Advantage or purchased by Advantage from GMAC-RFC, Amber Homeloans Limited and Victoria Mortgage Funding for ResLoc. KEY RATING DRIVERS New UK RMBS Rating Criteria This rating action takes into account its new UK RMBS Rating Criteria dated October 4, 2019. The note ratings are no longer Under Criteria Observation. The portfolios of MARS 4 and ResLoc comprise 66.4% and 87.3% of owner-occupied (OO) loans and 33.6% and 12.7% of buy-to-let (BTL), respectively. The two sub-pools were analysed under the new criteria using Fitch's non-conforming and BTL assumptions respectively. The upgrades of the junior and mezzanine notes mainly result from the reduction of the non-conforming sub-pool's weighted-average foreclosure frequency (WAFF) after applying the performance adjustment factor and are supported by the robust transaction structures. Robust Transaction Structure The combination of sequential amortisation and a non-amortising reserve fund for MARS 4 has led to a substantial build-up in credit enhancement (CE) available to the notes across the capital structure. The transaction also benefits from an amortising liquidity facility, which covers senior fees and interest shortfalls on all classes, subject to the principal deficiency ledger (PDL) on each class being greater than 50% of the then outstanding principal on that tranche and a performance-related trigger. Fitch does not expect the triggers to be breached in the short to medium-term due to the stable transaction performance observed. The notes in ResLoc are currently amortising on a pro rata basis and are expected to continue until the notes reach 10% of their initial balance. Its reserve fund and liquidity facility are non-amortising, providing a solid liquidity support to the notes and a year-on-year increase of CE despite the notes' amortisation profile. Asset Performance within Expectations Late-stage arrears in both transactions remain in line with the previous year's review, with loans that are three months or more in arrears at about 9.4% of the current pool balance for MARS 4 and around 3.5% for ResLoc, as of end-3Q19. A persistently low interest-rate environment, combined with a stable economic environment in the UK, has supported borrower affordability post-global financial crisis. Fitch expects the currently observed stable transaction performance to continue in the short- to medium-term. RATING SENSITIVITIES Fitch is of the opinion that the prolonged low interest-rate environment has supported borrower affordability. An increase in interest rates causing a payment shock could lead to a worsening of asset performance beyond Fitch's expectations, potentially leading to downgrades of the notes' ratings. There are a small number of OO interest-only loans that have failed to make their bullet payments at note maturity. The servicer has informed Fitch that alternative payment plans with these borrowers are currently being implemented. If this trend grows to a significant number, Fitch may apply more conservative assumptions in its asset-and-cash flow analysis. USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10 Form ABS Due Diligence-15E was not provided to, or reviewed by, Fitch in relation to this rating action. MARKETPLACE ORIGINATED 2019-1: Fitch Rates Class F Debt Final BB-sf ------------------------------------------------------------------- Fitch Ratings assigned Marketplace Originated Consumer Assets 2019-1 Plc's notes the following final ratings: RATING ACTIONS Marketplace Originated Consumer Assets 2019-1 Plc Class A1; LT AAAsf New Rating; previously at AAA(EXP)sf Class A2; LT AAAsf New Rating; previously at AAA(EXP)sf Class B; LT AA-sf New Rating; previously at AA-(EXP)sf Class C; LT A-sf New Rating; previously at A-(EXP)sf Class D; LT BBBsf New Rating; previously at BBB(EXP)sf Class E; LT BB+sf New Rating; previously at BB+(EXP)sf Class F; LT BB-sf New Rating; previously at BB-(EXP)sf Class Z1; LT NRsf New Rating; previously at NR(EXP)sf Class Z2; LT NRsf New Rating; previously at NR(EXP)sf TRANSACTION SUMMARY MOCA 2019-1 is a true-sale securitisation of a static pool of UK unsecured consumer loans, originated through the marketplace lending platform of Zopa Limited (servicer) and sold by London Bay Loans Warehouse 1 Limited. This transaction is the second issuance from this platform to be rated by Fitch, and the third overall. KEY RATING DRIVERS Increased Robustness Avoids Cap Based on the combination of an increased length of operational and performance history, planned retention of a more substantial portion of originated assets on balance sheet and additional regulatory oversight and an appointed back-up servicer at closing, Fitch concluded that the highest rating category - 'AAAsf' - is achievable for this issuance backed by Zopa's unsecured consumer loans. Historical Performance within Expectations Fitch has assigned weighted average (WA) default and recovery base cases of 7.1% and 22%, respectively. This is based on historical performance that was achieved mainly in a favourable economic environment and recent default vintages with slightly weaker performance. Asset assumptions were derived from a long period of strong origination growth until 2017, after which volumes stabilised. Fitch applied a median default multiple of 5.0x and a high recovery haircut of 60% at 'AAAsf'. Sensitivity to Pro-Rata Period The transaction features pro-rata amortisation of the rated notes at closing up until the breach of a sequential trigger. Note repayments are more sensitive to all aspects of asset performance than in comparable sequential structures. Riskier Markets Included In contrast to previous MOCA transactions, the portfolio includes loans from riskier borrowers corresponding to Zopa's risk markets D and E. Their performance was factored into its asset assumptions. The relative share of each Zopa market in the annual origination volume has been variable since 2014. The loan terms have been fairly stable in recent years. RATING SENSITIVITIES Expected impact on the note rating of increased defaults (class A/B/C/D/E/F) Increase default rate by 10%: 'AA+sf'/'A+sf'/'BBB+sf'/'BBB-sf'/'BB+sf'/'B+sf' Increase default rate by 25%: 'AA-sf'/'Asf'/'BBBsf'/'BB+sf'/'BBsf'/'Bsf' Increase default rate by 50%: 'Asf'/'BBBsf'/'BB+sf'/'BBsf'/'B+sf'/'NRsf' Expected impact on the note rating of decreased recoveries (class A/B/C/D/E/F) Reduce recovery rates by 10%: 'AAAsf'/'AA-sf'/'A-sf'/'BBBsf'/'BB+sf'/'BB-sf' Reduce recovery rates by 25%: 'AA+sf'/'A+sf'/'A-sf'/'BBBsf'/'BB+sf'/'BB-sf' Reduce recovery rates by 50%: 'AA+sf'/'A+sf'/'BBB+sf'/'BBB-sf'/'BB+sf'/'B+sf' Expected impact on the note rating of increased defaults and decreased recoveries (class A/B/C/D/E/F) Increase default rates by 10% and decrease recovery rates by 10%: 'AA+sf'/'A+sf'/'BBB+sf'/'BBB-sf'/'BB+sf'/'B+sf' Increase default rates by 25% and decrease recovery rates by 25%: 'A+sf'/'A-sf'/'BBBsf'/'BB+sf'/'BB-sf'/'NRsf' Increase default rates by 50% and decrease recovery rates by 50%: 'A-sf'/'BBBsf'/'BB+sf'/'BB-sf'/'NRsf'/'NRsf' Expected impact of prepayments (class A/B/C/D/E/F) Reduce base case prepayment rate to 10%: 'AAΑsf'/'AA-sf'/'A-sf'/'BBBsf'/'BBB-sf'/'BBsf' Reduce base case prepayment rate to 15%: 'AA+sf'/'A+sf'/'Α-sf'/'BBBsf'/'BB+sf'/'BBsf' Increase base case prepayment rate to 25%: 'AAΑsf'/'A+sf'/'Α-sf'/'BBBsf'/'BB+sf'/'BΒ-sf' USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10 Form ABS Due Diligence-15E was not provided to, or reviewed by, Fitch in relation to this rating action. THG OPERATIONS: Fitch Assigns 'B+' Final LT IDR, Outlook Stable --------------------------------------------------------------- Fitch Ratings assigned the beauty and wellbeing direct-to-consumer seller THG Operations Holding Limited, a wholly owned trading subsidiary of The Hut Group, a final Long-Term Issuer Default Rating of 'B+' with a Stable Outlook. Fitch has also assigned a final senior secured rating of 'BB-'/'RR3' to THG's bullet term loan. The assignment of the final instrument rating is in line with the expected rating (assigned in November 2019), as the final terms were consistent with the draft finance documentation and the finalisation of the new trading restricted group conformed to previous information. The rating of THG reflects its strong business profile balanced by high leverage. The group has strong positions in both beauty and wellbeing D2C channels, good geographical diversification facilitated by its internally developed intellectual property and an established distribution network. Fitch also considers the ability of THG to deleverage from its high leverage that is more commensurate with a 'B' rating, which is partly offset by proven access to equity financing, given moderate execution risks associated with its organic growth strategy. The Stable Outlook reflects Fitch's expectation that THG will materially deliver its expected high growth, despite intense competitive pressures. Profit expansion, along with maintaining a conservative financial policy, should support deleveraging that leads to limited refinancing risks by 2023. KEY RATING DRIVERS Established Business Model: The 'B+' IDR is supported by THG's established position in the beauty (Lookfantastic) and wellbeing (Myprotein) consumer markets, underpinned by moderate geographical diversification and increasing penetration of markets outside of the UK/Europe. The "Ingenuity" platform enables the group's end-to-end supply chain to reach a global online audience. Furthermore, the platform is also available to third-parties including global FMCG groups providing tailored D2C solutions, with high levels of customer retention indicating THG's strong in-house capabilities. Well Positioned for Growth: THG's business model is firmly placed to capture the continuing transition of consumers to online channels, as well as benefiting from supportive trends in global demand for beauty and wellbeing products. M&A is not a pre-requisite for future growth, although management will look to add new brands to its portfolio. The 'B+' IDR captures Fitch's expectation that future acquisitions will be funded conservatively as in the past, and will continue to enhance the business model around its existing capabilities, rather than transform it, resulting in manageable integration risks. Retail Enabled by Technology: THG's in-house "Ingenuity" platform and owned infrastructure represent a high barrier to new entrants, only matched partly by Amazon. However, THG operates in higher-end segments, where brands are careful to curate their image, and in how they reach out to consumers, versus Amazon's "mass" positioning, with its main appeal to buyers as a marketplace focussed on product breadth and service with swift delivery capabilities. Moderate Execution Risks to Persist: THG's core wellbeing and beauty products (84% of 2018 EBITDA) are subject to fast-changing consumer tastes; therefore, innovation of own brands and selection of third-party products remain crucial as both markets are subject to intense competition (substitution and price). Additionally, deeper penetration in North America and APAC markets is central to achieving the 20% (yoy) organic growth expected by management. THG's M&A strategy, reflected in supply chain integration or acquisition of beauty brands, revamped and relaunched in other markets, results in moderate execution risks. Solid Organic Growth, Stable Margins: Fitch projects steady financial performance driven by high organic growth, which the agency believes is largely achievable. Although some upside exists from increasing pricing power, Fitch expects only stable to mildly improving EBITDA margins towards 8.5% (2019 forecast: 8%) over the next three years, as long-term investment is made in the business at the expense of short-term margin accretion. Good Ability to Deleverage: The latest debt refinancing brings funds from operations (FFO)-adjusted gross leverage to an estimated 6.9x for 2019, which is high for a 'B+' IDR. Future deleveraging is largely contingent on further profit expansion, derived from organic sales growth as well as bolt-on M&A and resulting phased synergies. Fitch currently expects broadly neutral free cash flow (FCF) generation, after factoring in capex of around 6% of sales, primarily in IT and related infrastructure. Relatively Prudent Financial Policy: THG has refinanced its debt which, supported by additional equity financing as a diversification of its funding mix, provides additional flexibility for future inorganic growth. THG's historical growth has benefited from a strong equity commitment from its wide range of institutional shareholders, in tandem with debt funding. The rating reflects Fitch's expectation that THG will continue its prudent financial policy with a target net debt/EBITDA at 3.5x-5.0x. Fitch forecasts FFO- adjusted net and gross leverage trending to 4.0x and 4.5x, respectively, by 2023 with no dividends envisaged over this period. These levels are fully consistent with the 'B+' rating. DERIVATION SUMMARY Fitch rates THG according to its global rating navigator framework for consumer product companies. While Fitch recognises THG's retailing and business service offerings, the group's business model is underpinned by an end-to-end supply chain that aligns THG's business model most closely with Fitch's consumer framework. THG's 'B+'/Stable rating compares well with direct (via representatives) beauty sellers Walnut Bidco Plc (Oriflame) (B+/Stable) and Avon Products, Inc. (B+/Rating Watch Positive). Both Oriflame and Avon Products, Inc.'s larger respective scale and envisaged positive FCF are balanced against THG's greater diversification of revenue streams and online D2C channel, which is a direct challenge to representative-led beauty seller business models. THG's business model is better placed to capture the continuing transition of consumers to online channels. The one-notch difference between THG and Sunshine Luxembourg VII S.a.r.l - the vehicle used by EQT to acquire Nestle's Skin Health Division (Galderma) ( (B/Stable) - takes into account Galderma's initially weak credit metrics (post carve-out) despite its significantly larger product offering and scale relative to THG. THG is rated higher than Anastasia Beverly Hills, Inc. (ABH, B/Negative), which now sells its products on THG's main beauty product website (Lookfantastic). ABH is diversifying its distribution channels in light of a sustained decline in revenue and margins; historically distribution has been focused mainly in U.S. department stores. Non-food retailer Shop Direct Limited (B/Rating Watch Negative) is rated is one notch lower than THG, given its geographical concentration on the UK market and exposure to customer redress payments (PPI) via its consumer finance division. Shop Direct also operates exclusively in the online retail space, primarily with its Very brand. Additionally, THG's organic growth provides a stronger ability to deleverage. THG's IDR at the same level as Ocado Group's PLC (B+/Stable) despite current stronger financial metrics, and given Ocado's accelerated transition from a pure UK online food retailer to an international technology and business services provider with a significant portion of long-term contracted earnings, adding further scale and diversification. While both ratings also take into consideration that respective revenue growth will be underpinned by the increasing preference of consumers to shop online, there is greater exposure to the online retail channel, including greater inventory risk, at THG. However, Ocado's rating is heavily influenced by risks associated with the timely delivery of technology to the company's retail partners wishing to develop their online segment. This requires significant up-front capex, which can delay profit breakeven to 2023. KEY ASSUMPTIONS - High organic growth from the group's existing product portfolio supplemented by acquired revenues, with a CAGR of around 20% for 2018-2022; - Fitch-adjusted EBITDA margin improving towards 8.5% by 2022 (7.4% in 2018); - Other items before FFO of GBP7 million reflecting a combination of cash outflows associated with share-based incentive payments, M&A- related fees including integration costs and non-capex requirements of the warehouse in Poland; - Working capital to remain broadly neutral with limited volatility associated with higher inventory levels as part of Brexit preparation; - Capex at around 6% of annual sales (post transaction for the restricted group) over the next four years; - No dividends; - Annual bolt-on M&A spending (2020 onwards) funded 50:50 by debt and new equity. Fitch assumes purchased enterprise value (EV)/EBITDA multiples of 10x with zero EBITDA recognised in the year of acquisition, and then EBITDA evenly phased in over the subsequent two years. KEY RECOVERY RATING ASSUMPTIONS - The recovery analysis assumes that THG would be restructured as a going concern rather than liquidated in a default; - THG post-reorganisation, going-concern EBITDA reflects Fitch's view of a sustainable EBITDA of GBP82.8 million that is 10% below the 2019 Fitch forecast EBITDA of GBP92 million. Given Fitch's high degree of visibility over near-term growth, Fitch would increase the EBITDA discount as the group's business scale grows by 2021 to maintain the same post-restructuring EBITDA figure. The stress on EBITDA would most likely result from operational issues likely perpetuated by lower growth and weaker margins than currently envisaged in the beauty and wellbeing divisions; - Fitch applies a distressed EV/EBITDA multiple of 5.5x to calculate a going-concern EV, reflecting THG's established position in both beauty and wellbeing D2C channels, underpinned by internally developed intellectual property. - Based on the payment waterfall the multi-currency revolving credit facility (RCF) of GBP150 million equivalent (assumed fully drawn in a default) ranks pari passu with the senior secured term loan totalling EUR600 million (or GBP510 million equivalent). - Fitch has assumed that the warehouse loan relating to the Polish distribution and production facility (GBP35 million) ranks senior to the claims of senior secured facilities in the event of distress. The warehouse itself does not form part of the collateral for the lenders of the senior secured facilities and is ring-fenced for the warehouse loan lenders. After deducting 10% for administrative claims, Fitch's waterfall analysis generates a ranked recovery for the senior secured loans in the 'RR3' band, indicating a 'BB-' instrument rating, one notch above the IDR. The waterfall analysis output percentage on current metrics and assumptions is 57%. RATING SENSITIVITIES Developments That May, Individually or Collectively, Lead to Positive Rating Action (BB-) Greater business scale, diversity and maturity of the Ingenuity platform across other brands and retail segments as reflected in continuing double-digit sales growth and an EBITDA margin (Fitch-defined) sustainably above 10%; FFO-adjusted gross leverage sustainably below 4.5x (net of cash below 4.0x); and Enhanced financial flexibility demonstrated by FCF margin sustainably above 2% and FFO fixed charge cover above 3.0x. Developments That May, Individually or Collectively, Lead to Negative Rating Action (B) More aggressive financial policy or operating underperformance leading to a lack of deleveraging towards FFO-adjusted gross leverage of 5.5x by 2021; FFO fixed charge coverage below 2.0x for two consecutive years; Increased competition and/or delay to or failure in conducting bolt-on acquisition of brands leading to EBITDA margin (Fitch-defined) sustainably below 7.5%; and FCF margin consistently neutral to negative (below -2%) and greater reliance on drawdowns from its RCF limiting liquidity buffer. LIQUIDITY AND DEBT STRUCTURE Comfortable Liquidity: Fitch expects THG to continue operating with cash on balance sheet at 0.5x-1x EBITDA at all times. Along with access to its RCF of GBP150 million this provides comfortable liquidity given the lack of debt repayments over at least the next three years, and limited cash flow seasonality during the year. In its liquidity calculations Fitch strips out GBP25 million from available cash reflecting intra-year working capital swings. Given the expected thin generation of FCF (in absolute terms), Fitch assumes that M&A would be externally-funded through a mix of (primarily) debt and equity , for which there is a strong track record of commitment from both existing and new investors. ESG CONSIDERATIONS Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of 3. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or to the way in which they are being managed by the entity. [*] UK: Million Households Hit by Collapse of Energy Firms ---------------------------------------------------------- Adam Williams at The Telegraph reports that more than a million households have been hit by the collapse of their energy supplier in the last two years -- leaving many customers fearful of switching to the cheapest providers in case they go bust. According to The Telegraph, the failures of firms such as Economy Energy, Extra Energy and Spark Energy have damaged consumer confidence in the industry, according to a report by price comparison website Compare the Market. There has been a boom in lesser-known companies offering cheaper rates than established providers in the past few years after regulators sought to boost competition, prompting many people to switch, The Telegraph relates. However, some of these firms have precarious finances because they offer ultra-low prices, The Telegraph notes. =============== X X X X X X X X =============== [*] BOND PRICING: For the Week December 16 to December 20, 2019 --------------------------------------------------------------- Issuer Coupon Maturity Currency Price ------ ------ -------- -------- ----- Intelsat Luxembourg SA 8.125 6/1/2023 USD 47.258 Intelsat Connect Finance 9.500 2/15/2023 USD 58.999 Ageasfinlux SA 0.947 EUR 60.492 Valaris plc 7.750 2/1/2026 USD 51.700 Mallinckrodt Internationa 4.750 4/15/2023 USD 37.689 Lecta SA 6.500 8/1/2023 EUR 47.071 Aldesa Financial Services 7.250 4/1/2021 EUR 49.743 European TopSoho Sarl 4.000 9/21/2021 EUR 76.587 Officine Maccaferri-SpA 5.750 6/1/2021 EUR 35.167 Teva Pharmaceutical Finan 4.100 10/1/2046 USD 72.571 Safari Verwaltungs GmbH 5.375 11/30/2022 EUR 75.917 Petra Diamonds US Treasur 7.250 5/1/2022 USD 63.594 Rallye SA 4.000 4/2/2021 EUR 30.000 Mallinckrodt Internationa 4.875 4/15/2020 USD 71.444 Casino Guichard Perrachon 3.992 EUR 58.502 Pro-Gest SpA 3.250 12/15/2024 EUR 58.243 Valaris plc 5.750 10/1/2044 USD 43.779 Intelsat Luxembourg SA 7.750 6/1/2021 USD 74.352 Kirk Beauty One GmbH 8.750 7/15/2023 EUR 66.316 Aggregate Holdings SA 5.000 8/10/2021 EUR 73.275 Naviera Armas SA 4.250 11/15/2024 EUR 72.083 Mallinckrodt Internationa 5.750 8/1/2022 USD 37.339 Casino Guichard Perrachon 1.033 EUR 37.293 Distribuidora Internacion 0.875 4/6/2023 EUR 54.105 Thomas Cook Group PLC 6.250 6/15/2022 EUR 6.908 Pizzaexpress Financing 1 8.625 8/1/2022 GBP 35.146 Intralot Capital Luxembou 5.250 9/15/2024 EUR 44.934 Ferroglobe PLC / Globe Sp 9.375 3/1/2022 USD 62.191 Galapagos SA/Luxembourg 5.375 6/15/2021 EUR 0.060 Astaldi SpA 7.125 12/1/2020 EUR 16.473 Nostrum Oil & Gas Finance 8.000 7/25/2022 USD 51.821 Mallinckrodt Internationa 5.500 4/15/2025 USD 31.783 Valaris plc 4.500 10/1/2024 USD 49.207 Vallourec SA 2.250 9/30/2024 EUR 68.065 Moby SpA 7.750 2/15/2023 EUR 34.022 Boparan Finance PLC 4.375 7/15/2021 EUR 71.632 Valaris plc 5.200 3/15/2025 USD 50.426 Mitsubishi UFJ Investor S 4.092 12/15/2050 EUR 59.831 Jain International Tradin 7.125 2/1/2022 USD 31.069 Abengoa Abenewco 2 Bis SA 1.500 4/26/2024 EUR Rallye SA 4.371 1/23/2023 EUR 30.001 Cooperativa Muratori & Ce 6.000 2/15/2023 EUR 2.565 Mallinckrodt Internationa 5.625 10/15/2023 USD 33.296 Rothschild & Co Continuat 2.375 USD 69.445 Intralot Capital Luxembou 6.750 9/15/2021 EUR 64.011 Hema Bondco II BV 8.500 1/15/2023 EUR 35.649 Galapagos Holding SA 7.000 6/15/2022 EUR 7.473 Lecta SA 6.375 8/1/2022 EUR 47.366 O1 Properties Finance PLC 8.250 9/27/2021 USD 78.636 Societe Generale SA 1.989 USD 74.375 Obrascon Huarte Lain SA 4.750 3/15/2022 EUR 68.243 Vallourec SA 4.125 10/4/2022 EUR 5.449 Banco Pinto & Sotto Mayor 1.055 EUR 58.000 Credit Mutuel Arkea SA 0.216 EUR 75.231 Rallye SA 4.000 11/23/2020 CHF 28.054 Greenyard Fresh NV 3.750 12/22/2021 EUR 70.695 Boparan Finance PLC 5.500 7/15/2021 GBP 71.494 Astaldi SpA 4.875 6/21/2024 EUR 14.283 Senvion Holding GmbH 3.875 10/25/2022 EUR 5.583 FF Group Finance Luxembou 3.250 11/2/2021 CHF 12.435 Galapagos SA/Luxembourg 4.350 6/15/2021 EUR 0.060 Air France-KLM 0.125 3/25/2026 EUR 18.461 HOCHDORF Holding AG 2.500 CHF 51.819 Nostrum Oil & Gas Finance 7.000 2/16/2025 USD 51.650 Rallye SA 5.250 2/1/2022 EUR 28.100 NIBC Bank NV 0.552 EUR 68.275 Genfit 3.500 10/16/2022 EUR 21.996 Rallye SA 3.250 2/8/2024 CHF 25.999 Thomas Cook Finance 2 PLC 3.875 7/15/2023 EUR 6.500 Capital Raising GmbH 7.500 EUR 59.428 Odea Bank AS 7.625 8/1/2027 USD 72.653 Korian SA 2.500 EUR 47.824 Quadient 3.375 EUR 57.756 Debenhams PLC 5.250 7/15/2021 GBP 38.260 KCA Deutag UK Finance PLC 7.250 5/15/2021 USD 67.271 Neoen SA 1.875 10/7/2024 EUR 32.719 Cooperativa Muratori & Ce 6.875 8/1/2022 EUR 2.383 EA Partners II BV 6.750 6/1/2021 USD 47.500 FF Group Finance Luxembou 1.750 7/3/2019 EUR 4.500 Constellation Oil Service 9.500 11/9/2024 USD 44.630 Econocom Group SA/NV 0.500 3/6/2023 EUR 6.979 Transcapitalbank JSC Via 10.000 9/18/2020 USD 56.252 Union Fenosa Preferentes 1.237 EUR 72.562 Offshore Drilling Holding 8.375 9/20/2020 USD 30.700 Pierre & Vacances SA 2.000 4/1/2023 EUR 52.988 ADLER Real Estate AG 2.500 7/19/2021 EUR 15.253 Maisons du Monde SA 0.125 12/6/2023 EUR 42.847 Ferroglobe PLC / Globe Sp 9.375 3/1/2022 USD 62.191 Biocartis NV 4.000 5/9/2024 EUR 70.033 FIGEAC-AERO 1.125 10/18/2022 EUR 23.687 EA Partners I BV 6.875 9/28/2020 USD 41.650 Fuerstenberg Capital Erst 1.287 EUR 72.072 KCA Deutag UK Finance PLC 9.625 4/1/2023 USD 67.444 Hybrid Raising GmbH 6.625 EUR 60.483 Obrascon Huarte Lain SA 5.500 3/15/2023 EUR 68.538 VIEO BV 6.750 9/7/2020 EUR 40.963 Immigon Portfolioabbau AG 6.059 EUR 15.625 Bourbon Corp 6.446 EUR 2.628 Paragon GmbH & Co KGaA 4.500 7/5/2022 EUR 64.279 Alitalia-Societa Aerea It 5.250 7/30/2020 EUR 3.477 Air Berlin PLC 8.250 4/19/2018 EUR 1.848 KCA Deutag UK Finance PLC 9.875 4/1/2022 USD 67.473 NIBC Bank NV 2.627 USD 63.937 Banco Espirito Santo SA 4.000 1/21/2019 EUR 21.054 BNP Paribas SA 2.139 USD 67.780 Evan Group PLC 6.000 7/31/2022 EUR 61.464 Scholz Holding Gmbh 8.500 12/31/2019 EUR 0.376 DNB Bank ASA 2.188 USD 69.538 DNB Bank ASA 2.188 USD 69.767 Intelsat Connect Finance 9.500 2/15/2023 USD 59.887 Senivita Social Estate AG 6.500 5/12/2020 EUR 70.000 Avangardco Investments Pu 10.000 10/29/2018 USD 8.000 UkrLandFarming PLC 10.875 3/26/2018 USD 4.667 Rallye SA 3.400 1/31/2022 EUR 30.000 Orient Express Bank PJSC 10.000 USD 41.551 DOF Subsea AS 8.810 5/22/2020 NOK 68.675 Steinhoff Finance Holding 1.250 10/21/2023 EUR 44.573 Petra Diamonds US Treasur 7.250 5/1/2022 USD 63.644 Yuksel Insaat AS 9.500 11/10/2015 USD 0.939 EOS Imaging SA 6.000 5/31/2023 EUR 6.218 Lehman Brothers UK Capita 5.125 EUR 7.329 Eramet 4.000 EUR 50.917 Hellenic Bank PCL 10.000 EUR 48.164 Elli Finance UK PLC 8.750 6/15/2019 GBP 58.500 Banco Espirito Santo SA 2.625 5/8/2017 EUR 24.674 Golfino AG 8.000 11/18/2023 EUR 0.250 Grupo Isolux Corsan SA 0.250 12/30/2021 EUR 0.204 DNB Bank ASA 2.188 USD 69.434 Mallinckrodt Internationa 4.875 4/15/2020 USD 71.278 Autostrade per l'Italia S 3.625 6/9/2038 EUR 74.493 Lambay Capital Securities 6.250 GBP 1.054 Top Gun Realisations 74 P 6.500 7/1/2022 GBP 18.638 Yell Bondco PLC 8.500 5/2/2023 GBP 71.532 Mallinckrodt Internationa 5.500 4/15/2025 USD 33.798 DOF Subsea AS 9.500 3/14/2022 USD 60.696 Rickmers Holding AG 8.875 6/11/2018 EUR 1.505 Privatbank CJSC Via UK SP 11.000 2/9/2021 USD 20.239 Nexity SA 0.125 1/1/2023 EUR 66.682 Stichting Afwikkeling Ond 6.250 10/26/2020 EUR 3.061 House of Fraser Funding P 6.550 9/15/2020 GBP 4.868 Bilt Paper BV 9.640 USD 1.029 Air Berlin PLC 6.750 5/9/2019 EUR 1.882 DOF Subsea AS 9.850 11/27/2023 NOK 62.500 Mallinckrodt Internationa 5.625 10/15/2023 USD 33.396 Privatbank CJSC Via UK SP 10.250 1/23/2018 USD 29.999 Afren PLC 6.625 12/9/2020 USD 0.402 Abengoa Abenewco 2 Bis SA 1.500 4/26/2024 USD 5.238 Grupo Isolux Corsan SA 6.000 12/30/2021 EUR 1.298 Santhera Pharmaceuticals 5.000 2/17/2022 CHF 62.425 Air Berlin PLC 5.625 5/9/2019 CHF 1.060 Banco Espirito Santo SA 4.750 1/15/2018 EUR 25.602 Nexity SA 0.250 3/2/2025 EUR 69.639 Bank Otkritie Financial C 10.000 4/26/2019 USD 8.216 LA Perla Fashion Finance 7.250 3/29/2023 EUR 31.371 Stichting Afwikkeling Ond 11.250 EUR 1.128 Melin Group/Norway 7.350 10/30/2022 NOK 73.000 KCA Deutag UK Finance PLC 7.250 5/15/2021 USD 67.423 Koninklijke Luchtvaart Ma 0.750 CHF 36.550 Mitsubishi UFJ Investor S 3.834 12/30/2099 EUR 4.676 Banco Espirito Santo SA 7.125 11/28/2023 EUR 0.084 SSM Holding AB 8.034 5/9/2020 SEK 68.000 Wasps Finance Plc 6.500 5/13/2022 GBP 73.099 Tresu Investment Holding 5.000 9/29/2022 EUR 41.625 BAT International Finance 2.250 9/9/2052 GBP 73.320 Dexia SA 1.386 EUR 7.755 Afren PLC 11.500 2/1/2016 USD 0.413 Mallinckrodt Internationa 5.750 8/1/2022 USD 37.644 SLM Solutions Group AG 5.500 10/11/2022 EUR 70.624 CBo Territoria 3.750 7/1/2024 EUR 4.900 Scandinavian Airlines Sys 0.625 CHF 36.884 KTG Agrar SE 7.125 6/6/2017 EUR 0.561 Virgolino de Oliveira Fin 10.500 1/28/2018 USD 3.421 Paragon GmbH & Co KGaA 4.000 4/23/2024 CHF 68.250 Deutsche Bank AG/London 0.090 10/31/2034 USD 68.691 Dexia Credit Local SA 1.331 EUR 7.870 Abengoa Abenewco 2 Bis SA 1.500 4/26/2024 USD 5.253 Portigon AG 7.460 12/31/2019 EUR 21.000 Europejskie Centrum Odszk 5.790 4/14/2020 PLN 56.500 Top Gun Realisations 74 P 4.500 7/1/2022 EUR 26.926 Espirito Santo Financial 6.875 10/21/2019 EUR 0.060 Rallye SA 1.000 10/2/2020 EUR 30.125 KCA Deutag UK Finance PLC 9.875 4/1/2022 USD 67.562 HOCHDORF Holding AG 3.500 3/30/2020 CHF 26.350 Praktiker AG 5.875 2/10/2016 EUR 0.542 BIM SAS 2.500 11/13/2020 EUR 22.201 Banco Espirito Santo SA 2.250 EUR 0.081 Agrokor dd 9.875 5/1/2019 EUR 20.420 Allied Irish Banks PLC 12.500 6/25/2035 GBP 70.936 OGX Austria GmbH 8.500 6/1/2018 USD 0.001 Hellenic Republic Governm 2.085 7/25/2057 EUR 51.375 KCA Deutag UK Finance PLC 9.625 4/1/2023 USD 67.492 German Pellets GmbH 7.250 11/27/2019 EUR 0.727 Banca Popolare di Vicenza 9.500 9/29/2025 EUR 0.681 Prime Living AB 7.000 10/19/2020 SEK 5.000 New World Resources NV 4.000 10/7/2020 EUR 0.079 Agrokor dd 8.875 2/1/2020 USD 19.328 Erotik-Abwicklungsgesells 7.750 7/9/2019 EUR 0.779 Nostrum Oil & Gas Finance 8.000 7/25/2022 USD 49.897 Waste Italia SpA 10.500 11/15/2019 EUR 0.800 Constellation Oil Service 9.500 11/9/2024 USD 44.468 Hamon & CIE SA 5.500 1/30/2020 EUR 47.751 GNB - Cia de Seguros de V 3.102 EUR 73.717 Cirio Holding Luxembourg 6.250 2/16/2004 EUR 0.889 GEWA 5 to 1 GmbH & Co KG 6.500 3/24/2018 EUR 5.250 Elli Investments Ltd 12.250 6/15/2020 GBP 54.613 Lehman Brothers UK Capita 3.875 EUR 7.541 Melin Group/Norway 9.850 1/30/2023 NOK 50.000 Lehman Brothers UK Capita 5.750 EUR 1.436 Virgolino de Oliveira Fin 11.750 2/9/2022 USD 3.752 APP International Finance 11.750 10/1/2005 USD 0.899 OGX Austria GmbH 8.375 4/1/2022 USD 0.001 Veneto Banca SpA 9.500 12/1/2025 EUR 0.891 Norske Skogindustrier ASA 7.000 12/30/2026 EUR 0.049 Agrokor dd 9.125 2/1/2020 EUR 19.250 CNP Assurances 2.000 EUR 74.000 Pizzaexpress Financing 1 8.625 8/1/2022 GBP 35.242 LBI ehf 6.100 8/25/2011 USD 7.625 Lehman Brothers UK Capita 6.900 USD 2.745 Windreich GmbH 6.500 7/15/2016 EUR 8.125 Solship Invest 1 AS 5.000 12/8/2024 NOK 10.000 Afren PLC 10.250 4/8/2019 USD 0.413 Cooperatieve Rabobank UA 0.500 2/26/2029 HUF 70.840 Privatbank CJSC Via UK SP 10.875 2/28/2018 USD 30.991 Prime Living AB 4.500 9/29/2020 SEK 45.536 SeniVita Sozial gGmbH 7.000 EUR 35.200 Kaupthing ehf 7.625 2/28/2015 USD 0.250 Claranova SADIR 5.000 7/1/2023 EUR 1.180 JZ Capital Partners Ltd 6.000 7/30/2021 GBP 9.800 KTG Agrar SE 7.250 10/15/2019 EUR 0.561 WPE International Coopera 10.375 9/30/2020 USD 0.624 International Finance Fac 0.500 6/29/2027 ZAR 52.801 Corporate Commercial Bank 8.250 8/8/2014 USD 0.377 ESFIL-Espirito Santo Fina 5.250 6/12/2015 EUR 0.060 Aralco Finance SA 10.125 5/7/2020 USD 1.324 Top Gun Realisations 73 P 8.000 7/1/2023 GBP 0.685 German Pellets GmbH 7.250 7/9/2018 EUR 0.572 BBVA International Prefer 1.670 GBP 65.583 Hema Bondco II BV 8.500 1/15/2023 EUR 36.183 International Finance Fac 0.500 6/24/2024 ZAR 70.645 Portugal Telecom Internat 6.250 7/26/2016 EUR 0.596 NTRP Via Interpipe Ltd 10.250 8/2/2017 USD 30.069 Verimatrix SA 6.000 6/29/2022 EUR 3.834 Hellas Telecommunications 6.054 1/15/2015 USD 0.017 Cooperatieve Rabobank UA 0.500 10/29/2027 MXN 57.124 OGX Austria GmbH 8.500 6/1/2018 USD 0.001 Breeze Finance SA 6.708 4/19/2027 EUR 28.950 International Industrial 9.000 7/6/2011 EUR 0.185 Alpine Holding GmbH 6.000 5/22/2017 EUR 0.469 Lecta SA 6.375 8/1/2022 EUR 47.458 Alno AG 8.500 5/14/2018 EUR 3.250 Enertronica Santerno SpA 7.000 12/31/2022 EUR 50.600 Chr Bygga Bostader Holdin 9.000 7/5/2021 SEK 50.000 Nostrum Oil & Gas Finance 7.000 2/16/2025 USD 49.965 EFG International AG 0.286 EUR 39.750 Intralot Capital Luxembou 5.250 9/15/2024 EUR 45.000 Vneshprombank Ltd Via VPB 9.000 11/14/2016 USD 0.308 Tonon Luxembourg SA 9.250 1/24/2020 USD 1.217 Cirio Del Monte NV 7.750 3/14/2005 EUR 1.841 Havila Shipping ASA 6.270 11/7/2020 NOK 59.693 Stichting Afwikkeling Ond 6.625 5/14/2018 EUR 1.005 Cirio Finance Luxembourg 7.500 11/3/2002 EUR 3.381 Espirito Santo Financial 9.750 12/19/2025 EUR 0.544 Intralot Capital Luxembou 6.750 9/15/2021 EUR 65.000 Banco Santander SA 2.008 EUR 3.142 Barclays Bank PLC 0.080 10/30/2034 USD 71.925 Banco Espirito Santo SA 6.900 6/28/2024 EUR 25.000 Abengoa Abenewco 2 Bis SA 1.500 4/26/2024 EUR 5.375 Offshore Drilling Holding 8.375 9/20/2020 USD 27.670 Activa Resources AG 0.500 11/15/2021 EUR 6.000 Manchester Building Socie 6.750 GBP 14.468 Norske Skogindustrier ASA 2.000 12/30/2115 EUR 1.473 Bank Nadra Via NDR Financ 8.250 7/31/2018 USD 0.151 MLS Innovation Inc 5.300 7/11/2020 EUR 50.011 International Industrial 11.000 2/19/2013 USD 0.185 Windreich GmbH 6.500 3/1/2015 EUR 8.125 Depfa Funding II LP 6.500 EUR 59.161 Kaupthing ehf 5.750 10/4/2011 USD 0.250 CBo Territoria 6.000 1/1/2020 EUR 3.760 Cooperatieve Rabobank UA 0.500 7/30/2043 MXN 17.264 Banco Espirito Santo SA 2.430 EUR 0.975 Finmek International SA 7.000 12/3/2004 EUR 2.193 New World Resources NV 8.000 4/7/2020 EUR 1.473 Pro-Gest SpA 3.250 12/15/2024 EUR 58.658 Del Monte Finance Luxembo 6.625 5/24/2006 EUR 3.548 Thomas Cook Group PLC 6.250 6/15/2022 EUR 6.908 Norske Skog Holding AS 8.000 2/24/2021 EUR 0.155 Banca Popolare di Vicenza 2.821 12/20/2017 EUR 0.228 Virgolino de Oliveira Fin 10.500 1/28/2018 USD 3.421 Steilmann SE 7.000 3/9/2017 EUR 1.429 Alpine Holding GmbH 5.250 6/10/2016 EUR 0.484 Banco Espirito Santo SA 6.875 7/15/2016 EUR 24.776 Deutsche Agrar Holding Gm 7.250 9/28/2018 EUR 1.254 Senvion Holding GmbH 3.875 10/25/2022 EUR 5.583 Alno AG 8.000 3/21/2019 EUR 4.620 PA Resources AB 13.500 3/3/2016 SEK 0.124 Lecta SA 6.500 8/1/2023 EUR 47.766 Boparan Finance PLC 4.375 7/15/2021 EUR 71.658 Russian Federal Bond - OF 0.250 7/20/2044 RUB 22.964 Depfa Funding III LP 0.378 EUR 56.396 Aldesa Financial Services 7.250 4/1/2021 EUR 50.491 EDOB Abwicklungs AG 7.500 4/1/2012 EUR 1.079 CRC Breeze Finance SA 6.110 5/8/2026 EUR 50.625 Saleza AS 9.000 7/12/2021 EUR 0.047 Havila Shipping ASA 5.000 11/7/2020 NOK 45.000 Norske Skog Holding AS 8.000 2/24/2023 USD 0.221 Stichting Afwikkeling Ond 8.450 8/20/2018 USD 1.005 Kirk Beauty One GmbH 8.750 7/15/2023 EUR 66.293 Bulgaria Steel Finance BV 12.000 5/4/2013 EUR 0.216 Odea Bank AS 7.625 8/1/2027 USD 73.599 HPI AG 3.500 EUR 5.000 Linas Matkasse Newco AB 8.000 10/9/2022 SEK 55.000 UBS AG/London 7.200 1/2/2020 EUR 67.320 Hellas Telecommunications 8.500 10/15/2013 EUR 0.444 Elli Finance UK PLC 8.750 6/15/2019 GBP 58.500 Stichting Afwikkeling Ond 2.343 EUR 0.604 Municipality Finance PLC 0.500 6/19/2024 ZAR 70.651 Espirito Santo Financial 5.050 11/15/2025 EUR 0.476 Espirito Santo Financial 3.125 12/2/2018 EUR 0.165 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 63.850 Kommunekredit 0.500 7/30/2027 TRY 42.295 Steilmann SE 6.750 6/27/2017 EUR 2.184 BOA Offshore AS 0.409 7/17/2047 NOK 9.003 Region of Abruzzo Italy 0.036 11/7/2036 EUR 64.377 Vseukrainsky Aktsinerny B 10.900 6/14/2019 USD 1.056 Cooperatieve Rabobank UA 0.500 10/30/2043 MXN 17.021 Mriya Agro Holding PLC 10.950 3/30/2016 USD 7.701 Afren PLC 6.625 12/9/2020 USD 0.402 Lloyds Bank PLC 1.395 7/26/2033 USD 66.938 KPNQwest NV 8.125 6/1/2009 USD 0.634 Galapagos Holding SA 7.000 6/15/2022 EUR 7.473 Officine Maccaferri-SpA 5.750 6/1/2021 EUR 42.650 KPNQwest NV 10.000 3/15/2012 EUR 0.634 Rena GmbH 7.000 12/15/2015 EUR 2.096 Sairgroup Finance BV 4.375 6/8/2006 EUR 10.000 Afren PLC 11.500 2/1/2016 USD 0.413 Gebr Sanders GmbH & Co KG 8.750 10/22/2018 EUR 14.324 Solon SE 1.375 12/6/2012 EUR 0.769 Rena GmbH 8.250 7/11/2018 EUR 2.096 Manchester Building Socie 8.000 GBP 9.293 Thomas Cook Finance 2 PLC 3.875 7/15/2023 EUR 7.000 Tonon Luxembourg SA 12.500 5/14/2024 USD 1.203 Bibby Offshore Services P 7.500 6/15/2021 GBP 11.076 O1 Properties Finance PLC 8.250 9/27/2021 USD 49.348 SiC Processing GmbH 7.125 3/1/2016 EUR 2.227 Naviera Armas SA 4.250 11/15/2024 EUR 72.279 Decipher Production Ltd 12.500 9/27/2019 USD 1.500 Yell Bondco PLC 8.500 5/2/2023 GBP 71.675 Cattles Ltd 8.125 7/5/2017 GBP 0.255 Caixa Economica Montepio 5.000 EUR 50.000 getgoods.de AG 7.750 10/2/2017 EUR 0.126 Deutsche Bank AG 0.687 10/11/2049 EUR 67.267 Polnord SA 6.070 9/29/2020 PLN 10.000 Portugal Telecom Internat 5.242 11/6/2017 EUR 0.694 Finance and Credit Bank J 9.250 1/25/2019 USD 0.931 UkrLandFarming PLC 10.875 3/26/2018 USD 7.683 WEB Windenergie AG 5.250 4/8/2023 EUR 55.010 Island Offshore Shipholdi 4.090 6/30/2021 NOK 12.000 Deutsche Bank AG/London 0.116 6/30/2034 USD 65.267 Societe Generale SA 17.600 1/27/2020 USD 35.659 Phosphorus Holdco PLC 10.000 4/1/2019 GBP 2.423 Alpine Holding GmbH 5.250 7/1/2015 EUR 0.483 Societe Generale SA 9.250 10/1/2020 USD 24.869 Air Berlin Finance BV 8.500 3/6/2019 EUR 2.568 Virgolino de Oliveira Fin 10.875 1/13/2020 USD 21.128 Severstal PJSC 8.650 3/27/2026 RUB 63.130 Societe Generale SA 11.000 1/28/2020 USD 35.375 Boparan Finance PLC 5.500 7/15/2021 GBP 71.641 Afren PLC 10.250 4/8/2019 USD 0.413 German Pellets GmbH 7.250 4/1/2016 EUR 0.777 Landesbank Schleswig-Hols 2.373 1/5/2040 USD 49.449 MS Deutschland Beteiligun 6.875 12/18/2017 EUR 1.911 Astaldi SpA 7.125 12/1/2020 EUR 16.473 Mriya Agro Holding PLC 9.450 4/19/2018 USD 6.889 KPNQwest NV 7.125 6/1/2009 EUR 0.634 OGX Austria GmbH 8.375 4/1/2022 USD 0.001 Barclays Bank PLC 10.000 5/28/2020 USD 73.600 La Veggia Finance SA 7.125 11/14/2004 EUR 0.287 TransFin-M PAO 8.000 11/24/2026 RUB 70.000 Moby SpA 7.750 2/15/2023 EUR 34.433 Marine Subsea AS 9.000 12/16/2019 USD 0.688 New World Resources NV 4.000 10/7/2020 EUR 0.079 KPNQwest NV 8.875 2/1/2008 EUR 0.634 Otkritie Holding JSC 11.500 7/14/2027 RUB 0.010 UniCredit Bank AG 12.000 1/3/2020 EUR 60.170 Barclays Bank PLC 12.860 5/28/2020 USD 70.150 Ahtium PLC 9.750 4/4/2017 EUR 0.976 IDGC of Centre PJSC 6.850 11/12/2024 RUB 99.000 Mobylife Holding A/S 7.268 5/23/2020 SEK 8.125 SAG Solarstrom AG 6.250 12/14/2015 EUR 31.000 Steilmann SE 7.000 9/23/2018 EUR 1.429 Kaupthing ehf 5.750 10/4/2011 USD 0.250 Barclays Bank PLC 0.656 10/10/2029 USD 71.349 Rosneft Oil Co PJSC 6.600 11/25/2026 RUB 70.010 Veneto Banca SpA 6.944 5/15/2025 EUR 0.495 Mox Telecom AG 7.250 11/2/2017 EUR 2.035 Societe Generale SA 17.000 6/30/2022 USD 72.800 SAG Solarstrom AG 7.500 7/10/2017 EUR 31.000 O1 Properties Finance AO 13.000 10/2/2020 RUB 67.000 Norske Skogindustrier ASA 7.125 10/15/2033 USD 0.140 Rio Forte Investments SA 4.000 7/22/2014 EUR 6.041 LBI ehf 6.100 8/25/2011 USD 7.625 Air Berlin Finance BV 6.000 3/6/2019 EUR 2.293 Ahtium PLC 4.000 12/16/2015 EUR 0.586 Gazprombank JSC 0.010 11/24/2022 RUB 70.670 Norske Skogindustrier ASA 7.125 10/15/2033 USD 0.140 Moscow Integrated Power C 6.800 11/7/2025 RUB 70.270 Waste Italia SpA 10.500 11/15/2019 EUR 1.000 Teksid Aluminum Luxembour 12.375 7/15/2011 EUR 0.182 WEB 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Financial C 10.000 4/26/2019 USD 8.216 Agrokor dd Via Aquarius + 4.921 8/8/2017 EUR 14.375 A-TEC Industries AG 2.750 5/10/2014 EUR 0.141 Societe Generale SA 1.600 1/9/2020 GBP 1.110 Royalbeach Spielwaren Und 7.375 11/10/2020 EUR 4.700 Agrokor dd 9.125 2/1/2020 EUR 19.250 J&T Banka AS 9.000 EUR 73.229 Pescanova SA 8.750 2/17/2019 EUR 0.360 Ideal Standard Internatio 11.750 5/1/2018 EUR 0.240 Polnord SA 6.070 12/30/2019 PLN 56.000 Cooperatieve Rabobank UA 0.500 11/30/2027 MXN 55.562 A-TEC Industries AG 8.750 10/27/2014 EUR 0.141 Bilt Paper BV 9.640 USD 1.029 Dolphin Drilling ASA 4.490 8/28/2019 NOK 0.115 EFG International Finance 6.130 6/20/2024 EUR 46.790 Polnord SA 5.760 2/27/2020 PLN 56.200 A-TEC Industries AG 5.750 11/2/2010 EUR 0.141 Sequa Petroleum NV 5.000 4/29/2020 USD 68.917 Windreich GmbH 6.250 3/1/2015 EUR 8.125 Societe Generale SA 14.720 6/25/2021 USD 76.145 mybet Holding SE 6.250 12/12/2020 EUR 0.500 RENE LEZARD Mode GmbH 7.250 11/25/2017 EUR 1.500 Commerzbank AG 3.450 12/23/2019 GBP 46.020 AKB Peresvet ZAO 0.510 8/4/2034 RUB SAir Group 0.125 7/7/2005 CHF 9.875 Commerzbank AG 1.000 11/2/2020 USD 12.780 Espirito Santo Financial 5.125 5/30/2016 EUR 1.634 Centrosolar Group AG 7.000 2/15/2016 EUR 2.387 Finans-Avia OOO 10.000 7/31/2022 RUB 7.380 Top Gun Realisations 74 P 4.500 7/1/2022 EUR 26.926 WEB Windenergie AG 6.250 EUR 55.010 Cooperatieve Rabobank UA 0.500 12/29/2027 MXN 55.654 Natixis SA 0.300 6/25/2048 USD 45.790 Top Gun Realisations 73 P 8.000 7/1/2023 GBP 0.685 Zaklady Miesne Henryk Kan 6.970 3/29/2021 PLN Sistema PJSFC 7.500 10/31/2025 RUB 70.060 Sberbank of Russia PJSC 7.550 7/12/2021 RUB 66.260 Credit Suisse AG 0.500 12/16/2025 BRL 64.372 Rio Forte Investments SA 3.900 7/10/2014 USD 6.000 Getin Noble Bank SA 5.790 12/12/2022 PLN 80.000 Barclays Bank PLC 0.252 6/17/2033 USD 70.421 SG Issuer SA 3.000 10/10/2034 ZAR 42.468 Heta Asset Resolution AG 0.066 12/31/2023 EUR 1.620 Bank J Safra Sarasin AG/G 10.400 3/5/2020 CHF 66.730 Leonteq Securities AG 14.000 6/12/2020 CHF 36.070 Polnord SA 6.210 5/22/2020 PLN 10.000 Podkarpacki Bank Spoldzie 5.090 5/28/2023 PLN 47.540 Golden Gate AG 6.500 10/11/2014 EUR 38.000 BLT Finance BV 12.000 2/10/2015 USD 10.500 Lehman Brothers Treasury 1.900 10/5/2035 EUR 3.400 Minicentrales Dos SA 0.010 6/6/2047 EUR 65.750 Center-Invest Commercial 7.500 3/3/2022 RUB 63.110 UBS AG/London 5.000 3/26/2021 EUR 70.330 TransFin-M PAO 10.000 10/8/2024 RUB 70.000 Veneto Banca SpA 6.950 2/25/2025 EUR 0.100 Bank Otkritie Financial C 0.010 7/16/2025 RUB 66.530 BNP Paribas Emissions- un 8.500 12/30/2019 EUR 66.960 Reso-Leasing OOO 9.500 10/3/2025 RUB 63.380 Sviaz Bank OAO 8.100 12/9/2021 RUB 100.110 Gold-Zack AG 7.000 12/14/2005 EUR 10.010 Touax SCA-SGTR-CITE-SGT-C 6.000 7/10/2020 EUR 17.794 Muehl Product & Service A 6.750 3/10/2005 DEM 0.001 IT Holding Finance SA 9.875 11/15/2012 EUR 0.202 Barclays Bank PLC 1.450 9/24/2038 MXN 30.255 Cooperativa Muratori & Ce 6.000 2/15/2023 EUR 2.565 I-Teco AO 12.000 9/22/2022 RUB 70.270 Russian Post FGUP 2.750 12/6/2023 RUB 70.000 Federal Grid Co Unified E 4.800 10/30/2048 RUB 64.670 Lehman Brothers Treasury 2.875 3/14/2013 CHF 3.750 Region of Molise Italy 0.060 12/15/2033 EUR 62.104 New World Resources NV 8.000 4/7/2020 EUR 1.473 Top Gun Realisations 74 P 6.500 7/1/2022 GBP 18.638 Societe Generale SA 10.000 6/26/2025 USD 70.950 Kardan NV 6.325 1/15/2020 ILS 6.500 Atari SA 0.100 4/1/2020 EUR BNP Paribas Emissions- un 11.000 12/30/2019 EUR 66.180 LBI ehf 7.431 USD 0.001 SpareBank 1 SR-Bank ASA 1.426 12/21/2030 EUR 73.277 Norske Skog Holding AS 8.000 2/24/2021 EUR 0.155 Minicentrales Dos SA 0.010 6/6/2047 EUR 65.750 Cooperativa Muratori & Ce 6.875 8/1/2022 EUR 2.383 Credit Suisse AG/London 7.600 8/10/2020 USD 65.343 TransFin-M PAO 9.500 4/13/2026 RUB 70.000 WEB Windenergie AG 4.500 EUR 55.010 Landesbank Hessen-Thuerin 2.250 7/13/2020 EUR 41.500 Virgolino de Oliveira Fin 10.875 1/13/2020 USD 21.128 Grupo Isolux Corsan SA 6.000 12/30/2021 USD 1.297 Sberbank of 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3.300 ISK 0.250 Otkritie Holding JSC 10.000 4/20/2028 RUB Cerruti Finance SA 6.500 7/26/2004 EUR 1.770 Heta Asset Resolution AG 5.730 12/31/2023 EUR 1.620 Virgolino de Oliveira Fin 11.750 2/9/2022 USD 3.752 Petromena ASA 10.850 11/19/2018 USD 0.607 Lehman Brothers Treasury 2.000 3/16/2035 EUR 3.400 Kaupthing ehf 5.000 1/4/2027 SKK 0.250 Barclays Bank PLC 0.500 1/28/2033 MXN 35.720 Landesbank Hessen-Thuerin 6.100 12/4/2023 EUR 56.050 Raiffeisen Centrobank AG 8.000 3/3/2020 EUR 67.760 UBS AG/London 8.500 1/6/2020 EUR 41.450 Gazprombank JSC 0.010 3/30/2020 RUB 72.860 UniCredit Bank AG 4.400 12/17/2019 EUR 58.570 Natixis SA 3.690 11/9/2020 USD 75.048 Raiffeisen Centrobank AG 10.000 5/11/2020 EUR 59.140 Landesbank Hessen-Thuerin 6.000 12/1/2022 EUR 60.320 Landesbank Hessen-Thuerin 3.500 9/8/2022 EUR 62.900 Landesbank Hessen-Thuerin 3.350 8/6/2021 EUR 72.800 Natixis SA 2.750 3/1/2021 USD 71.510 Federal Grid Co Unified E 9.350 10/17/2051 RUB 70.010 Northland Resources AB 15.000 7/15/2019 USD 2.621 Grupo Isolux Corsan SA 0.250 12/30/2021 USD 0.204 Lehman Brothers Treasury 1.900 11/2/2035 EUR 3.400 Lehman Brothers Treasury 11.000 6/29/2009 EUR 2.571 Lehman Brothers Treasury 5.103 6/22/2046 EUR 2.571 Kaupthing ehf 6.125 10/4/2016 USD 0.250 LBI ehf 7.431 USD 0.001 Landesbank Hessen-Thuerin 5.200 10/22/2024 EUR 74.980 Leonteq Securities AG/Gue 9.400 12/27/2019 CHF 73.120 Transneft PJSC 9.650 6/30/2023 RUB 70.200 JP Morgan Structured Prod 9.500 7/27/2020 USD 50.000 VTB Bank PJSC 3.000 8/14/2043 RUB 100.050 SALVATOR Vermoegensverwal 9.500 EUR 15.500 Raiffeisen Schweiz Genoss 6.250 2/17/2020 CHF 65.290 City of Predeal Romania 3.500 5/15/2026 RON 60.000 Valaris plc 8.000 1/31/2024 USD 55.660 Irish Bank Resolution Cor 6.750 11/30/2013 BGN 46.000 Laurel GmbH 7.125 11/16/2017 EUR 7.750 Heta Asset Resolution AG 0.356 12/31/2023 EUR 1.581 Societe Generale SA 10.000 12/31/2019 USD 47.350 Landesbank Hessen-Thuerin 4.150 1/15/2020 EUR 67.000 SG Issuer SA 6.420 9/25/2020 CHF 74.950 UBS AG/London 8.000 2/21/2020 EUR 63.650 TransFin-M PAO 10.500 6/28/2027 RUB 70.000 VTB Bank PJSC 9.000 9/1/2044 RUB 62.000 Raiffeisen Schweiz Genoss 9.000 12/18/2019 CHF 46.730 Commerzbank AG 2.450 3/9/2020 EUR 58.100 VTB Bank PJSC 3.000 12/6/2044 RUB 62.000 VTB Bank PJSC 9.000 12/6/2044 RUB 62.000 Podkarpacki Bank Spoldzie 5.790 2/23/2025 PLN 35.500 VTB Bank PJSC 3.000 11/26/2043 RUB 100.000 UBS AG/London 10.000 3/9/2020 CHF 59.150 Astana Finance BV 7.875 6/8/2010 EUR 16.000 Lehman Brothers Treasury 5.250 4/1/2023 EUR 2.571 Mriya Agro Holding PLC 9.450 4/19/2018 USD 6.889 Lehman Brothers Treasury 10.000 6/11/2038 JPY 2.571 Lehman Brothers Treasury 10.000 6/17/2009 USD 2.571 Deutsche Bank AG/London 2.000 10/25/2023 TRY 64.574 Deutsche Bank AG/London 0.500 10/18/2038 MXN 21.545 Agrokor dd 9.875 5/1/2019 EUR 20.420 OOO SPV Structural Invest 0.010 9/1/2023 RUB 66.740 Astana Finance BV 9.000 11/16/2011 USD 15.153 Kaupthing ehf 6.125 10/4/2016 USD 0.250 Samaratransneft-Terminal 17.000 6/20/2021 RUB 11.100 Natixis SA 3.100 7/26/2021 USD 79.207 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 60.360 Commerzbank AG 6.000 6/6/2022 USD 5.930 Commerzbank AG 2.800 12/30/2019 USD 55.600 Commerzbank AG 2.540 4/15/2020 EUR 71.260 EFG International Finance 7.000 5/23/2022 EUR 71.840 Derzhava-platforma OOO 12.000 5/18/2023 RUB 60.060 Societe Generale SA 8.000 5/28/2027 USD 39.700 getBACK SA 5.700 2/16/2021 PLN Commerzbank AG 3.200 4/6/2020 USD 70.050 Societe Generale SA 11.500 11/30/2020 USD 66.050 Rosselkhozbank JSC 15.000 1/29/2025 RUB 70.640 Credit Suisse AG/Nassau 7.000 1/13/2021 CHF 66.780 WEB Windenergie AG 2.750 12/17/2020 EUR 55.010 Espirito Santo Financial 5.050 11/15/2025 EUR 0.353 Credit Suisse AG/London 3.000 11/15/2025 ZAR 73.114 Aralco Finance SA 10.125 5/7/2020 USD 1.324 Lehman Brothers Treasury 11.000 12/20/2017 AUD 2.571 Intelsat SA 4.500 6/15/2025 USD 60.535 KPNQwest NV 7.125 6/1/2009 EUR 0.634 Banca Popolare di Vicenza 9.500 10/2/2025 EUR 0.106 SAir Group 2.750 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Podkarpacki Bank Spoldzie 5.790 10/24/2024 PLN 41.500 AKB Derzhava OJSC 8.000 7/10/2023 RUB 73.800 Landesbank Baden-Wuerttem 6.500 7/24/2020 EUR 70.010 Archer Finance OOO 9.250 3/29/2022 RUB Kaupthing ehf 3.750 2/15/2024 ISK 0.250 ECM Real Estate Investmen 5.000 10/9/2011 EUR 15.375 Kaupthing ehf 7.500 12/5/2014 ISK 0.250 Kaupthing ehf 6.500 10/8/2010 ISK 0.250 BNP Paribas SA 0.500 11/16/2032 MXN 36.348 AKB Peresvet ZAO 13.000 10/7/2017 RUB 18.250 SG Issuer SA 3.300 9/26/2034 ZAR 44.738 IT Holding Finance SA 9.875 11/15/2012 EUR 0.202 Kaupthing ehf 4.390 10/14/2008 CZK 0.250 Heta Asset Resolution AG 4.875 12/31/2023 EUR 1.620 Nota-Bank OJSC 13.500 4/1/2016 RUB 31.500 Norske Skog Holding AS 8.000 2/24/2023 USD 0.221 LBI ehf 8.650 5/1/2011 ISK 7.625 LBI ehf 5.080 3/1/2013 ISK 7.625 Kaupthing ehf 7.000 7/24/2009 ISK 0.250 Otkritie Holding JSC 12.420 7/20/2028 RUB 1.500 Heta Asset Resolution AG 0.281 12/31/2023 EUR 1.620 SAir Group 2.125 11/4/2004 CHF 9.875 Lehman Brothers Treasury 4.680 12/12/2045 EUR 2.571 Pescanova SA 6.750 3/5/2015 EUR 0.363 House of Fraser Funding P 6.550 9/15/2020 GBP 4.868 Kaupthing ehf 9.750 9/10/2015 USD 0.250 SAir Group 4.250 2/2/2007 CHF 9.875 Kaupthing ehf 4.730 12/19/2008 SKK 0.250 Delta Credit Bank JSC 10.290 11/24/2021 RUB 67.530 Kaupthing ehf 7.625 2/28/2015 USD 0.250 Lehman Brothers Treasury 12.400 6/12/2009 USD 2.571 Hellas Telecommunications 8.500 10/15/2013 EUR 0.444 Ideal Standard Internatio 11.750 5/1/2018 EUR 0.240 Kaupthing ehf 5.250 7/18/2017 BGN 0.250 Raiffeisen Schweiz Genoss 5.750 9/2/2020 CHF 49.570 UBS AG/London 9.500 2/28/2020 EUR 53.600 UBS AG/London 10.000 2/28/2020 EUR 51.300 Bayerische Landesbank 3.400 7/16/2021 EUR 54.390 Rosneft Oil Co PJSC 8.700 3/23/2029 RUB 63.130 Commerzbank AG 13.200 9/19/2023 SEK 73.290 Landesbank Hessen-Thuerin 8.900 10/6/2020 EUR 30.400 Bayerische Landesbank 2.400 12/20/2019 EUR 60.760 Landesbank Hessen-Thuerin 3.000 7/6/2021 EUR 64.200 Pongs & Zahn AG 8.500 EUR 0.016 Metalloinvest Holding Co 0.010 3/7/2022 RUB 65.000 EFG International Finance 7.200 7/29/2020 EUR 11.410 BNP Paribas Emissions- un 7.000 12/30/2019 EUR 71.620 Landesbank Hessen-Thuerin 7.800 12/15/2022 EUR 75.040 TransFin-M PAO 10.000 10/23/2024 RUB 70.000 TransFin-M PAO 10.000 10/14/2024 RUB 70.000 SG Issuer SA 5.500 4/10/2021 EUR 69.820 COFIDUR SA 0.100 12/31/2024 EUR 24.500 Credit Suisse AG/London 6.750 1/23/2020 EUR 69.000 Municipality Finance PLC 0.250 6/28/2040 CAD 36.363 AKB Peresvet ZAO 0.510 6/23/2021 RUB 17.710 Samaratransneft-Terminal 12.000 4/27/2022 RUB 25.000 Lehman Brothers Treasury 13.500 11/28/2008 USD 2.571 PSN Pm OOO 9.500 9/10/2026 RUB 21.625 Leonteq Securities AG/Gue 10.000 2/3/2020 USD 60.600 Raiffeisen Switzerland BV 5.600 11/2/2020 CHF 75.190 DZ Bank AG Deutsche Zentr 10.500 12/27/2019 EUR 65.990 EFG International Finance 6.400 6/22/2020 CHF 59.960 Credit Suisse AG/Nassau 8.000 12/18/2019 EUR 70.480 SecurAsset SA 5.250 6/30/2022 EUR 53.250 Landesbank Hessen-Thuerin 4.000 2/17/2021 EUR 40.370 SG Issuer SA 5.000 7/10/2020 EUR 12.500 Federal Grid Co Unified E 5.000 3/23/2050 RUB 65.430 Leonteq Securities AG/Gue 8.000 12/27/2019 CHF 68.730 DekaBank Deutsche Girozen 7.000 2/1/2021 EUR 65.100 Podkarpacki Bank Spoldzie 4.990 10/6/2021 PLN 60.890 Derzhava-Garant OOO 9.500 6/24/2020 RUB 60.000 Lehman Brothers Treasury 6.000 12/6/2016 USD 2.571 HSBC Bank PLC 0.500 11/25/2025 BRL 64.678 Otkritie Holding JSC 10.770 9/17/2027 RUB 0.580 SAir Group 6.250 4/12/2005 CHF 9.875 MIK OAO 15.000 2/19/2020 RUB 12.010 Lehman Brothers Treasury 0.500 8/1/2020 EUR 2.571 Lehman Brothers Treasury 7.500 2/14/2010 AUD 2.571 Lehman Brothers Treasury 8.000 5/22/2009 USD 2.571 SAir Group 2.750 7/30/2004 CHF 9.875 Lehman Brothers Treasury 5.100 5/8/2017 HKD 3.400 DZ Bank AG Deutsche Zentr 6.500 12/27/2019 EUR 57.950 DZ Bank AG Deutsche Zentr 5.500 12/27/2019 EUR 51.160 DZ Bank AG Deutsche Zentr 6.250 12/27/2019 EUR 71.520 Societe Generale Effekten 7.315 3/20/2020 EUR 37.030 Societe Generale Effekten 17.942 12/20/2019 EUR 57.050 Societe Generale Effekten 7.603 12/20/2019 EUR 62.090 Societe Generale Effekten 14.901 12/20/2019 EUR 60.710 UBS AG/London 9.000 4/3/2020 CHF 72.900 DZ Bank AG Deutsche Zentr 10.250 12/27/2019 EUR DZ Bank AG Deutsche Zentr 4.500 12/27/2019 EUR 73.860 DZ Bank AG Deutsche Zentr 4.500 12/27/2019 EUR 56.940 DZ Bank AG Deutsche Zentr 5.250 12/27/2019 EUR 57.910 Societe Generale Effekten 15.205 12/20/2019 EUR 69.120 Societe Generale Effekten 6.690 12/20/2019 EUR 34.910 Societe Generale Effekten 8.778 3/20/2020 EUR 67.150 Landesbank Baden-Wuerttem 4.000 4/24/2020 EUR 37.000 Landesbank Baden-Wuerttem 4.000 4/24/2020 EUR 64.440 Landesbank Baden-Wuerttem 2.500 4/24/2020 EUR 76.200 Landesbank Baden-Wuerttem 2.500 4/24/2020 EUR 40.420 Landesbank Baden-Wuerttem 9.000 4/24/2020 EUR 73.410 Landesbank Baden-Wuerttem 4.500 5/22/2020 EUR 69.990 Landesbank Baden-Wuerttem 6.000 5/22/2020 EUR 65.890 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 73.600 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 63.380 Societe Generale Effekten 12.468 12/20/2019 EUR 71.650 Societe Generale Effekten 5.778 12/20/2019 EUR 73.790 Societe Generale Effekten 9.732 12/20/2019 EUR 66.580 Societe Generale Effekten 28.586 12/20/2019 EUR 52.080 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 72.700 Landesbank Baden-Wuerttem 3.000 4/24/2020 EUR 60.380 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 72.310 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 69.370 Landesbank Baden-Wuerttem 5.500 4/24/2020 EUR 66.890 Landesbank Baden-Wuerttem 6.500 4/24/2020 EUR 70.940 Landesbank Baden-Wuerttem 3.500 4/24/2020 EUR 67.690 Landesbank Baden-Wuerttem 6.000 4/24/2020 EUR 65.610 UBS AG/London 4.300 6/25/2020 EUR 71.970 UBS AG/London 3.900 1/2/2020 EUR 73.780 UBS AG/London 7.200 1/2/2020 EUR 65.110 UBS AG/London 10.700 1/2/2020 EUR 69.410 UBS AG/London 5.800 6/25/2020 EUR 67.450 UBS AG/London 12.700 1/2/2020 EUR 69.030 UBS AG/London 13.600 1/2/2020 EUR 55.730 Raiffeisen Schweiz Genoss 7.400 4/1/2020 CHF 73.980 Raiffeisen Schweiz Genoss 5.800 9/28/2021 CHF 64.430 Raiffeisen Schweiz Genoss 7.200 9/28/2020 EUR 63.240 Landesbank Baden-Wuerttem 7.000 7/24/2020 EUR 68.110 Vontobel Financial Produc 12.000 3/13/2020 EUR 56.120 Vontobel Financial Produc 11.000 3/13/2020 EUR 66.880 Vontobel Financial Produc 6.500 3/13/2020 EUR 72.950 Vontobel Financial Produc 9.500 3/13/2020 EUR 67.230 Vontobel Financial Produc 15.500 3/27/2020 EUR 72.910 Vontobel Financial Produc 18.000 3/13/2020 EUR 69.250 Vontobel Financial Produc 10.500 3/13/2020 EUR 65.540 Vontobel Financial Produc 17.500 1/3/2020 EUR 69.750 Vontobel Financial Produc 15.500 1/3/2020 EUR 67.710 Vontobel Financial Produc 11.000 1/3/2020 EUR 65.990 Vontobel Financial Produc 5.500 1/3/2020 EUR 53.800 Vontobel Financial Produc 12.500 1/3/2020 EUR 59.350 Vontobel Financial Produc 9.000 1/3/2020 EUR 64.550 Vontobel Financial Produc 4.000 1/3/2020 EUR 70.790 Vontobel Financial Produc 3.500 1/3/2020 EUR 73.120 Vontobel Financial Produc 6.500 1/3/2020 EUR 64.670 Vontobel Financial Produc 8.500 1/3/2020 EUR 61.180 Vontobel Financial Produc 9.000 1/3/2020 EUR 46.280 Vontobel Financial Produc 10.500 1/3/2020 EUR 58.060 Vontobel Financial Produc 12.500 1/3/2020 EUR 55.270 Vontobel Financial Produc 7.500 1/3/2020 EUR 65.610 Vontobel Financial Produc 11.000 1/3/2020 EUR 58.330 Vontobel Financial Produc 8.000 1/3/2020 EUR 62.340 Vontobel Financial Produc 15.000 1/3/2020 EUR 75.050 HSBC Trinkaus & Burkhardt 10.000 6/26/2020 EUR 69.390 HSBC Trinkaus & Burkhardt 8.000 9/25/2020 EUR 72.790 HSBC Trinkaus & Burkhardt 9.000 2/28/2020 EUR 71.350 Vontobel Financial Produc 10.500 12/31/2019 EUR 50.000 Vontobel Financial Produc 11.000 12/31/2019 EUR 50.020 HSBC Trinkaus & Burkhardt 15.000 12/27/2019 EUR 31.990 HSBC Trinkaus & Burkhardt 7.900 3/27/2020 EUR 38.540 HSBC Trinkaus & Burkhardt 12.600 6/26/2020 EUR 37.100 HSBC Trinkaus & Burkhardt 9.100 2/28/2020 EUR 37.130 DZ Bank AG Deutsche Zentr 8.250 12/27/2019 EUR 31.780 HSBC Trinkaus & Burkhardt 6.100 12/27/2019 EUR 60.470 HSBC Trinkaus & Burkhardt 2.400 12/27/2019 EUR 66.520 Goldman Sachs & Co Wertpa 12.000 6/24/2020 EUR 54.970 Goldman Sachs & Co Wertpa 13.000 6/24/2020 EUR 58.200 Goldman Sachs & Co Wertpa 6.000 12/27/2019 EUR 73.770 Goldman Sachs & Co Wertpa 7.000 12/27/2019 EUR 69.770 Goldman Sachs & Co Wertpa 14.000 12/27/2019 EUR 60.340 Goldman Sachs & Co Wertpa 16.000 12/27/2019 EUR 53.770 Goldman Sachs & Co Wertpa 10.000 12/27/2019 EUR Goldman Sachs & Co Wertpa 5.000 3/25/2020 EUR 67.860 Goldman Sachs & Co Wertpa 6.000 3/25/2020 EUR 64.640 Goldman Sachs & Co Wertpa 7.000 3/25/2020 EUR 61.770 Goldman Sachs & Co Wertpa 10.000 3/25/2020 EUR 57.150 Goldman Sachs & Co Wertpa 4.000 6/24/2020 EUR 70.660 Goldman Sachs & Co Wertpa 4.000 6/24/2020 EUR 74.800 Goldman Sachs & Co Wertpa 6.000 6/24/2020 EUR 64.580 Goldman Sachs & Co Wertpa 6.000 3/25/2020 EUR 67.990 Goldman Sachs & Co Wertpa 9.000 3/25/2020 EUR 61.880 Goldman Sachs & Co Wertpa 5.000 6/24/2020 EUR 72.610 Goldman Sachs & Co Wertpa 7.000 6/24/2020 EUR 66.250 Goldman Sachs & Co Wertpa 8.000 6/24/2020 EUR 63.560 Goldman Sachs & Co Wertpa 10.000 6/24/2020 EUR 61.700 Goldman Sachs & Co Wertpa 4.000 12/27/2019 EUR 70.270 Goldman Sachs & Co Wertpa 7.000 12/27/2019 EUR 63.100 Goldman Sachs & Co Wertpa 8.000 12/27/2019 EUR 60.030 Leonteq Securities AG/Gue 11.000 1/30/2020 USD 55.250 UniCredit Bank AG 3.700 9/14/2022 EUR 65.390 Societe Generale Effekten 6.325 12/20/2019 EUR 68.200 Societe Generale Effekten 12.982 12/20/2019 EUR 55.830 BNP Paribas Emissions- un 9.000 12/30/2019 EUR 71.040 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 75.270 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 51.670 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 63.220 BNP Paribas Emissions- un 9.000 12/30/2019 EUR 70.090 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 58.800 BNP Paribas Emissions- un 9.000 12/30/2019 EUR 55.190 Raiffeisen Centrobank AG 8.454 12/27/2019 EUR 73.340 Raiffeisen Centrobank AG 13.033 12/27/2019 EUR 71.450 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 59.750 Landesbank Baden-Wuerttem 7.000 1/24/2020 EUR 66.560 Landesbank Baden-Wuerttem 3.500 1/24/2020 EUR 68.520 Landesbank Baden-Wuerttem 2.500 1/24/2020 EUR 68.240 Landesbank Baden-Wuerttem 3.500 1/24/2020 EUR 64.270 Landesbank Baden-Wuerttem 5.500 1/24/2020 EUR 58.520 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 74.410 Landesbank Baden-Wuerttem 7.000 1/24/2020 EUR 71.640 Landesbank Baden-Wuerttem 2.500 1/24/2020 EUR 59.660 Landesbank Baden-Wuerttem 2.500 1/24/2020 EUR 62.140 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 29.330 UBS AG/London 6.000 2/24/2020 CHF 66.350 Landesbank Baden-Wuerttem 2.500 2/28/2020 EUR 66.760 Landesbank Baden-Wuerttem 4.000 2/28/2020 EUR 60.170 UBS AG/London 9.000 8/24/2020 EUR 69.600 UBS AG/London 9.000 8/24/2020 CHF 67.800 UBS AG/London 11.000 8/24/2020 CHF 68.050 UBS AG/London 12.000 2/24/2020 USD 47.450 Landesbank Baden-Wuerttem 2.500 1/24/2020 EUR 63.930 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 58.190 Vontobel Financial Produc 8.000 12/31/2019 EUR 67.760 Leonteq Securities AG/Gue 10.000 8/31/2020 EUR 74.450 DekaBank Deutsche Girozen 2.400 8/21/2020 EUR 55.560 DekaBank Deutsche Girozen 5.000 2/28/2020 EUR 54.960 Raiffeisen Schweiz Genoss 6.000 3/5/2020 CHF 65.520 Vontobel Financial Produc 10.000 12/31/2019 EUR 62.550 Vontobel Financial Produc 14.000 12/31/2019 EUR 51.320 UniCredit Bank AG 4.750 9/18/2020 EUR 63.370 Landesbank Hessen-Thuerin 3.500 9/28/2022 EUR 67.060 Raiffeisen Centrobank AG 9.755 3/24/2020 EUR 69.150 DZ Bank AG Deutsche Zentr 6.750 12/27/2019 EUR 62.070 DZ Bank AG Deutsche Zentr 5.000 12/27/2019 EUR 31.300 Raiffeisen Centrobank AG 6.620 3/24/2020 EUR 59.600 Raiffeisen Centrobank AG 5.359 3/24/2020 EUR 72.840 Raiffeisen Centrobank AG 6.935 3/24/2020 EUR 72.040 Raiffeisen Centrobank AG 8.511 3/24/2020 EUR 60.310 Banque Cantonale Vaudoise 6.300 9/7/2020 CHF 71.500 Bayerische Landesbank 3.400 10/2/2020 EUR 73.500 Bayerische Landesbank 3.250 10/2/2020 EUR 71.760 Landesbank Baden-Wuerttem 4.000 8/28/2020 EUR 70.430 Landesbank Baden-Wuerttem 7.000 8/28/2020 EUR 68.630 Landesbank Baden-Wuerttem 2.500 8/28/2020 EUR 72.640 Landesbank Baden-Wuerttem 4.000 8/28/2020 EUR 67.280 Landesbank Baden-Wuerttem 2.500 8/28/2020 EUR 66.640 Landesbank Baden-Wuerttem 4.000 8/28/2020 EUR 60.610 Landesbank Baden-Wuerttem 3.000 8/28/2020 EUR 39.320 Landesbank Baden-Wuerttem 5.000 8/28/2020 EUR 34.950 Landesbank Baden-Wuerttem 7.000 8/28/2020 EUR 74.740 Landesbank Baden-Wuerttem 4.000 8/28/2020 EUR 71.020 Landesbank Baden-Wuerttem 2.500 8/28/2020 EUR 67.630 Landesbank Baden-Wuerttem 3.500 8/28/2020 EUR 62.640 Landesbank Baden-Wuerttem 4.500 8/28/2020 EUR 60.800 Landesbank Baden-Wuerttem 6.000 8/28/2020 EUR 72.710 Landesbank Baden-Wuerttem 6.500 8/28/2020 EUR 68.160 Landesbank Baden-Wuerttem 2.500 8/28/2020 EUR 69.850 Landesbank Baden-Wuerttem 4.000 8/28/2020 EUR 63.070 Landesbank Baden-Wuerttem 3.000 8/28/2020 EUR 71.900 Landesbank Baden-Wuerttem 5.000 8/28/2020 EUR 65.550 Credit Suisse AG/London 4.590 2/28/2020 EUR 53.320 Landesbank Hessen-Thuerin 4.650 9/28/2023 EUR 64.960 Credit Suisse AG/London 4.360 2/28/2020 EUR 73.690 DekaBank Deutsche Girozen 7.250 4/1/2021 EUR 63.800 DekaBank Deutsche Girozen 7.700 3/26/2021 EUR 70.120 UBS AG/London 6.250 3/2/2020 CHF 65.950 UBS AG/London 10.000 8/31/2020 CHF 70.300 UBS AG/London 9.000 8/31/2020 CHF 65.700 UBS AG/London 10.500 8/31/2020 EUR 64.600 UBS AG/London 10.000 3/2/2020 EUR 55.000 Vontobel Financial Produc 4.300 9/25/2020 EUR 65.920 HSBC Trinkaus & Burkhardt 6.100 9/25/2020 EUR 62.980 HSBC Trinkaus & Burkhardt 12.600 3/27/2020 EUR 72.560 HSBC Trinkaus & Burkhardt 5.800 3/27/2020 EUR 63.090 HSBC Trinkaus & Burkhardt 6.100 6/26/2020 EUR 62.810 HSBC Trinkaus & Burkhardt 11.300 9/25/2020 EUR 54.830 HSBC Trinkaus & Burkhardt 6.800 6/26/2020 EUR 70.880 Landesbank Baden-Wuerttem 5.000 12/29/2020 EUR 49.190 Leonteq Securities AG 16.200 6/4/2020 EUR 71.670 Deutsche Bank AG 4.200 12/24/2019 EUR 74.500 Deutsche Bank AG 4.200 3/24/2020 EUR 73.500 HSBC Trinkaus & Burkhardt 2.000 3/27/2020 EUR 76.430 Vontobel Financial Produc 12.000 12/31/2019 EUR 67.760 Vontobel Financial Produc 12.000 12/31/2019 EUR 73.880 Vontobel Financial Produc 13.500 3/13/2020 EUR 67.480 Vontobel Financial Produc 9.500 3/13/2020 EUR 66.110 Vontobel Financial Produc 11.000 3/13/2020 EUR 70.850 UBS AG/London 8.000 4/3/2020 USD 60.700 UBS AG/London 7.500 9/28/2020 EUR 73.700 UBS AG/London 9.000 10/5/2020 EUR 61.200 Raiffeisen Schweiz Genoss 11.600 1/3/2020 CHF 70.570 Raiffeisen Schweiz Genoss 8.500 4/1/2020 CHF 62.780 UBS AG/London 9.100 1/2/2020 EUR 72.250 UBS AG/London 7.300 3/26/2020 EUR 66.810 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 74.620 Landesbank Baden-Wuerttem 3.000 7/24/2020 EUR 46.330 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 42.410 Vontobel Financial Produc 5.500 3/13/2020 EUR 65.150 Vontobel Financial Produc 7.500 3/13/2020 EUR 70.930 Vontobel Financial Produc 8.500 3/13/2020 EUR 69.030 Vontobel Financial Produc 14.000 1/3/2020 EUR 73.910 Vontobel Financial Produc 11.500 3/13/2020 EUR 63.950 Vontobel Financial Produc 9.000 3/13/2020 EUR 70.360 Leonteq Securities AG 10.200 1/8/2020 CHF 73.360 Vontobel Financial Produc 7.000 3/13/2020 EUR 63.520 Credit Suisse AG/London 7.000 1/6/2020 CHF 70.640 Vontobel Financial Produc 10.500 1/3/2020 EUR 75.870 Vontobel Financial Produc 6.500 1/3/2020 EUR 73.990 Vontobel Financial Produc 7.500 1/3/2020 EUR 67.540 Vontobel Financial Produc 10.500 1/3/2020 EUR 61.820 Vontobel Financial Produc 6.000 1/3/2020 EUR 66.600 Vontobel Financial Produc 5.000 1/3/2020 EUR 68.630 Vontobel Financial Produc 9.500 1/3/2020 EUR 59.570 Vontobel Financial Produc 7.500 1/3/2020 EUR 62.870 Vontobel Financial Produc 10.500 1/3/2020 EUR 44.260 Vontobel Financial Produc 6.500 1/3/2020 EUR 51.020 Vontobel Financial Produc 7.500 1/3/2020 EUR 48.520 Vontobel Financial Produc 11.500 1/3/2020 EUR 56.630 Vontobel Financial Produc 14.000 1/3/2020 EUR 55.000 Vontobel Financial Produc 11.500 1/3/2020 EUR 58.780 Vontobel Financial Produc 4.500 1/3/2020 EUR 74.390 Vontobel Financial Produc 3.500 1/3/2020 EUR 72.480 Vontobel Financial Produc 5.500 1/3/2020 EUR 67.000 HSBC Trinkaus & Burkhardt 10.000 6/26/2020 EUR 69.390 HSBC Trinkaus & Burkhardt 6.500 3/27/2020 EUR 66.190 Vontobel Financial Produc 6.500 12/31/2019 EUR 49.850 Vontobel Financial Produc 7.500 12/31/2019 EUR 49.890 Vontobel Financial Produc 9.000 12/31/2019 EUR 49.940 Goldman Sachs & Co Wertpa 8.000 6/24/2020 EUR 63.450 HSBC Trinkaus & Burkhardt 13.100 3/27/2020 EUR 34.650 DZ Bank AG Deutsche Zentr 10.000 12/27/2019 EUR 75.680 DZ Bank AG Deutsche Zentr 7.500 12/27/2019 EUR 57.070 HSBC Trinkaus & Burkhardt 5.500 12/27/2019 EUR 68.480 DZ Bank AG Deutsche Zentr 10.750 12/27/2019 EUR 39.310 UBS AG/London 10.000 2/6/2020 EUR 57.250 Leonteq Securities AG/Gue 14.000 1/15/2020 USD 34.900 Vontobel Financial Produc 9.000 3/27/2020 EUR 51.200 Bank Julius Baer & Co Ltd 10.700 1/10/2020 CHF 76.050 Investtorgstroi OOO 12.000 9/20/2028 RUB 60.060 UBS AG/London 11.300 1/2/2020 EUR 61.330 UBS AG/London 21.900 1/2/2020 EUR 63.020 UBS AG/London 25.000 1/2/2020 EUR 70.140 UBS AG/London 14.300 1/2/2020 EUR 75.730 UBS AG/London 25.200 1/2/2020 EUR 60.120 UBS AG/London 13.000 3/26/2020 EUR 65.980 UBS AG/London 13.400 1/2/2020 EUR 58.200 UBS AG/London 11.090 4/8/2020 USD 4.818 DZ Bank AG Deutsche Zentr 8.400 3/23/2020 EUR 70.810 HSBC Trinkaus & Burkhardt 8.800 9/25/2020 EUR 72.770 HSBC Trinkaus & Burkhardt 8.000 9/25/2020 EUR 74.040 HSBC Trinkaus & Burkhardt 10.200 9/25/2020 EUR 56.040 HSBC Trinkaus & Burkhardt 8.100 9/25/2020 EUR 59.070 HSBC Trinkaus & Burkhardt 9.500 7/24/2020 EUR 56.710 HSBC Trinkaus & Burkhardt 9.800 6/26/2020 EUR 77.520 HSBC Trinkaus & Burkhardt 8.500 3/27/2020 EUR 57.620 HSBC Trinkaus & Burkhardt 8.400 6/26/2020 EUR 58.260 Landesbank Baden-Wuerttem 3.000 12/29/2020 EUR 54.050 Deutsche Bank AG 4.200 6/23/2020 EUR 72.400 Deutsche Bank AG 4.200 9/22/2020 EUR 72.800 Deutsche Bank AG 4.200 12/22/2020 EUR 73.200 Commerzbank AG 12.250 12/31/2019 EUR 69.940 Vontobel Financial Produc 10.000 3/27/2020 EUR 65.390 Vontobel Financial Produc 11.000 12/31/2019 EUR 67.730 DZ Bank AG Deutsche Zentr 5.750 3/25/2020 EUR 68.230 Leonteq Securities AG/Gue 10.600 1/15/2020 CHF 34.140 Vontobel Financial Produc 10.300 2/7/2020 EUR 70.150 UBS AG/London 11.500 1/2/2020 EUR 70.460 UBS AG/London 15.900 1/2/2020 EUR 63.510 UBS AG/London 8.700 1/2/2020 EUR 63.560 UBS AG/London 9.900 3/26/2020 EUR 71.860 UBS AG/London 9.400 1/2/2020 EUR 62.390 UBS AG/London 11.700 1/2/2020 EUR 75.490 UBS AG/London 20.900 1/2/2020 EUR 50.660 Raiffeisen Schweiz Genoss 6.400 4/8/2020 CHF 74.000 UBS AG/London 12.000 4/13/2020 USD 55.370 Vontobel Financial Produc 5.000 3/20/2020 EUR 69.660 Leonteq Securities AG/Gue 10.000 2/8/2021 USD 74.390 Vontobel Financial Produc 13.500 3/27/2020 EUR 75.670 Vontobel Financial Produc 15.500 1/3/2020 EUR 72.860 Vontobel Financial Produc 7.500 3/27/2020 EUR 55.880 Vontobel Financial Produc 7.500 1/3/2020 EUR 64.300 Vontobel Financial Produc 15.000 3/27/2020 EUR 57.420 Vontobel Financial Produc 10.500 3/27/2020 EUR 67.130 Vontobel Financial Produc 6.500 3/27/2020 EUR 74.360 Vontobel Financial Produc 12.500 3/27/2020 EUR 64.150 Vontobel Financial Produc 8.500 3/27/2020 EUR 70.510 Vontobel Financial Produc 6.500 1/3/2020 EUR 73.260 Vontobel Financial Produc 11.500 1/3/2020 EUR 64.890 Vontobel Financial Produc 9.000 1/3/2020 EUR 68.810 Vontobel Financial Produc 6.000 3/27/2020 EUR 58.550 Vontobel Financial Produc 14.000 1/3/2020 EUR 46.510 Vontobel Financial Produc 7.500 3/27/2020 EUR 65.900 Vontobel Financial Produc 9.000 1/3/2020 EUR 70.390 Vontobel Financial Produc 6.500 3/27/2020 EUR 74.050 Vontobel Financial Produc 13.000 3/27/2020 EUR 65.570 Vontobel Financial Produc 10.500 1/3/2020 EUR 68.270 Commerzbank AG 10.500 1/24/2020 EUR 66.750 UniCredit Bank AG 10.100 6/26/2020 EUR 71.420 UniCredit Bank AG 8.000 6/26/2020 EUR 73.170 UniCredit Bank AG 14.700 6/26/2020 EUR 68.660 UniCredit Bank AG 13.500 6/26/2020 EUR 75.840 UniCredit Bank AG 9.000 6/25/2021 EUR 73.730 UniCredit Bank AG 7.000 6/25/2021 EUR 75.440 UniCredit Bank AG 8.000 6/25/2021 EUR 74.520 UniCredit Bank AG 8.400 3/27/2020 EUR 75.490 HSBC Trinkaus & Burkhardt 0.750 4/22/2020 EUR 72.240 Vontobel Financial Produc 8.000 2/4/2020 EUR 71.810 Commerzbank AG 15.000 12/31/2019 EUR 66.170 Vontobel Financial Produc 6.500 3/27/2020 EUR 70.040 Vontobel Financial Produc 12.500 3/27/2020 EUR 57.280 Vontobel Financial Produc 14.500 1/3/2020 EUR 65.020 Vontobel Financial Produc 12.000 1/3/2020 EUR 68.940 Vontobel Financial Produc 9.000 3/27/2020 EUR 66.310 Vontobel Financial Produc 6.000 3/27/2020 EUR 72.360 Vontobel Financial Produc 8.500 1/3/2020 EUR 67.720 Vontobel Financial Produc 10.500 1/3/2020 EUR 64.440 Vontobel Financial Produc 12.500 1/3/2020 EUR 61.470 Vontobel Financial Produc 9.500 1/3/2020 EUR 73.390 Vontobel Financial Produc 10.000 3/27/2020 EUR 70.930 Vontobel Financial Produc 12.500 3/27/2020 EUR 67.680 Vontobel Financial Produc 15.000 1/3/2020 EUR 58.810 Societe Generale Effekten 7.647 12/20/2019 EUR 41.130 Societe Generale Effekten 11.986 6/19/2020 EUR 46.410 Societe Generale Effekten 14.041 6/19/2020 EUR 44.250 Societe Generale Effekten 18.572 12/20/2019 EUR 58.520 Societe Generale Effekten 19.890 3/20/2020 EUR 63.150 Societe Generale Effekten 10.925 12/20/2019 EUR 73.700 Societe Generale Effekten 16.168 12/20/2019 EUR 66.320 Societe Generale Effekten 11.799 12/20/2019 EUR 72.580 Societe Generale Effekten 21.194 12/20/2019 EUR 61.530 Societe Generale Effekten 15.295 12/20/2019 EUR 74.750 Societe Generale Effekten 7.429 12/20/2019 EUR 71.010 Societe Generale Effekten 10.269 12/20/2019 EUR 65.790 Societe Generale Effekten 14.421 12/20/2019 EUR 59.630 Societe Generale Effekten 11.766 3/20/2020 EUR 68.740 Societe Generale Effekten 15.968 3/20/2020 EUR 63.430 UBS AG/London 10.000 1/30/2020 EUR 61.350 Societe Generale Effekten 6.636 12/20/2019 EUR 71.280 Societe Generale Effekten 9.716 12/20/2019 EUR 65.340 Societe Generale Effekten 10.664 12/20/2019 EUR 64.380 Societe Generale Effekten 13.508 12/20/2019 EUR 60.580 Societe Generale Effekten 23.462 12/20/2019 EUR 51.740 Societe Generale Effekten 24.410 12/20/2019 EUR 50.980 Landesbank Baden-Wuerttem 4.500 3/26/2021 EUR 71.380 Vontobel Financial Produc 19.000 6/12/2020 EUR 75.700 Commerzbank AG 3.500 12/31/2019 EUR 66.390 Vontobel Financial Produc 21.000 1/3/2020 EUR 70.620 Vontobel Financial Produc 6.500 1/3/2020 EUR 54.550 Vontobel Financial Produc 15.500 3/27/2020 EUR 73.910 Vontobel Financial Produc 13.000 3/27/2020 EUR 61.680 Vontobel Financial Produc 9.500 3/27/2020 EUR 63.700 UBS AG/London 15.500 1/2/2020 EUR 69.930 UBS AG/London 5.900 1/2/2020 EUR 73.440 UBS AG/London 13.900 1/2/2020 EUR 61.470 UBS AG/London 9.100 6/25/2020 EUR 43.450 UBS AG/London 7.200 3/26/2020 EUR 46.790 UBS AG/London 9.700 1/2/2020 EUR 41.890 UBS AG/London 18.200 1/2/2020 EUR 68.210 UBS AG/London 9.300 1/2/2020 EUR 66.170 UBS AG/London 10.100 1/2/2020 EUR 64.900 UBS AG/London 9.100 3/26/2020 EUR 43.930 Vontobel Financial Produc 18.000 1/3/2020 EUR 70.920 Vontobel Financial Produc 24.000 1/3/2020 EUR 71.180 DZ Bank AG Deutsche Zentr 7.250 3/25/2020 EUR DZ Bank AG Deutsche Zentr 8.250 3/25/2020 EUR 62.170 UBS AG/London 10.000 7/10/2020 EUR 74.800 UniCredit Bank AG 12.300 6/26/2020 EUR 67.440 UniCredit Bank AG 9.600 12/27/2021 EUR 73.600 UniCredit Bank AG 13.900 12/29/2020 EUR 64.730 UniCredit Bank AG 11.000 12/29/2020 EUR 70.080 Vontobel Financial Produc 10.500 1/3/2020 EUR 74.170 Vontobel Financial Produc 14.500 3/27/2020 EUR 69.470 Vontobel Financial Produc 14.500 3/27/2020 EUR 72.630 Vontobel Financial Produc 17.000 3/27/2020 EUR 69.630 Vontobel Financial Produc 16.500 1/3/2020 EUR 69.710 Vontobel Financial Produc 13.500 1/3/2020 EUR 73.890 Bank Julius Baer & Co Ltd 9.650 1/17/2020 USD 54.050 HSBC Trinkaus & Burkhardt 10.800 3/27/2020 EUR 67.270 HSBC Trinkaus & Burkhardt 10.200 6/26/2020 EUR 68.260 HSBC Trinkaus & Burkhardt 9.300 6/26/2020 EUR 69.600 HSBC Trinkaus & Burkhardt 8.200 2/28/2020 EUR 72.220 HSBC Trinkaus & Burkhardt 15.300 12/27/2019 EUR 33.970 HSBC Trinkaus & Burkhardt 13.500 3/27/2020 EUR 36.690 HSBC Trinkaus & Burkhardt 11.300 3/27/2020 EUR 38.280 HSBC Trinkaus & Burkhardt 13.000 6/26/2020 EUR 39.210 HSBC Trinkaus & Burkhardt 11.200 6/26/2020 EUR 40.410 HSBC Trinkaus & Burkhardt 9.500 2/28/2020 EUR 39.720 HSBC Trinkaus & Burkhardt 9.200 12/27/2019 EUR 64.740 HSBC Trinkaus & Burkhardt 6.900 3/27/2020 EUR 69.610 BNP Paribas Emissions- un 11.000 6/25/2020 EUR 73.380 BNP Paribas Emissions- un 15.000 3/26/2020 EUR 72.970 BNP Paribas Emissions- un 9.000 3/26/2020 EUR 66.500 BNP Paribas Emissions- un 9.000 3/26/2020 EUR 70.860 BNP Paribas Emissions- un 15.000 3/26/2020 EUR 61.830 BNP Paribas Emissions- un 9.000 6/25/2020 EUR 71.390 UBS AG/London 7.500 2/14/2020 EUR 73.100 Leonteq Securities AG/Gue 3.750 2/20/2023 CHF 63.380 Leonteq Securities AG/Gue 11.000 3/2/2020 CHF 41.370 Raiffeisen Schweiz Genoss 5.250 8/26/2020 CHF 74.700 Landesbank Hessen-Thuerin 4.000 9/22/2020 EUR 61.300 UniCredit Bank AG 4.500 3/12/2022 EUR 71.090 Raiffeisen Schweiz Genoss 10.300 2/19/2020 EUR 73.730 Landesbank Hessen-Thuerin 3.500 9/22/2020 EUR 76.700 DekaBank Deutsche Girozen 5.000 9/14/2020 EUR 75.130 DekaBank Deutsche Girozen 7.000 9/14/2020 EUR 67.310 UniCredit Bank AG 9.100 1/3/2020 EUR 54.490 UniCredit Bank AG 11.400 1/3/2020 EUR 45.830 UniCredit Bank AG 7.000 1/3/2020 EUR 64.620 UniCredit Bank AG 10.500 1/3/2020 EUR 64.830 UniCredit Bank AG 10.500 1/3/2020 EUR 74.120 UniCredit Bank AG 14.800 1/3/2020 EUR 40.740 UniCredit Bank AG 6.300 1/3/2020 EUR 57.180 UniCredit Bank AG 14.600 1/3/2020 EUR 51.770 UniCredit Bank AG 12.500 1/3/2020 EUR 21.080 UniCredit Bank AG 11.000 1/3/2020 EUR 45.510 UBS AG/London 7.500 2/21/2020 EUR 46.800 UBS AG/London 8.500 8/21/2020 EUR 57.400 EFG International Finance 6.400 3/8/2021 EUR 59.580 Leonteq Securities AG 7.400 3/2/2020 CHF 18.350 Leonteq Securities AG 7.200 3/2/2020 CHF 75.470 Leonteq Securities AG 10.000 3/2/2020 EUR 54.230 Raiffeisen Schweiz Genoss 7.400 3/2/2020 EUR 74.660 Raiffeisen Schweiz Genoss 7.000 3/2/2020 CHF 68.240 Landesbank Baden-Wuerttem 4.450 10/23/2020 EUR 73.070 DekaBank Deutsche Girozen 3.150 3/5/2021 EUR 68.740 DekaBank Deutsche Girozen 2.850 3/6/2020 EUR 74.740 Landesbank Baden-Wuerttem 3.000 2/28/2020 EUR 74.620 Landesbank Baden-Wuerttem 5.000 2/28/2020 EUR 65.930 Landesbank Baden-Wuerttem 7.000 2/28/2020 EUR 59.140 Landesbank Baden-Wuerttem 4.500 2/28/2020 EUR 75.440 Landesbank Baden-Wuerttem 2.000 2/28/2020 EUR 66.700 Landesbank Baden-Wuerttem 3.000 2/28/2020 EUR 63.210 Landesbank Baden-Wuerttem 4.000 2/28/2020 EUR 57.190 Landesbank Baden-Wuerttem 2.000 2/28/2020 EUR 62.630 Landesbank Baden-Wuerttem 3.000 2/28/2020 EUR 59.100 Landesbank Baden-Wuerttem 2.500 2/28/2020 EUR 56.740 Landesbank Baden-Wuerttem 3.500 2/28/2020 EUR 52.770 Landesbank Baden-Wuerttem 4.500 2/28/2020 EUR 51.110 Landesbank Baden-Wuerttem 5.500 2/28/2020 EUR 47.950 Landesbank Baden-Wuerttem 3.000 2/28/2020 EUR 53.260 Landesbank Baden-Wuerttem 4.500 2/28/2020 EUR 48.770 Landesbank Baden-Wuerttem 6.000 2/28/2020 EUR 45.080 Landesbank Baden-Wuerttem 2.500 2/28/2020 EUR 63.270 Landesbank Baden-Wuerttem 3.500 2/28/2020 EUR 60.330 Landesbank Baden-Wuerttem 4.500 2/28/2020 EUR 56.360 Landesbank Baden-Wuerttem 4.000 2/28/2020 EUR 68.210 Landesbank Baden-Wuerttem 5.500 2/28/2020 EUR 62.400 Landesbank Baden-Wuerttem 7.000 2/28/2020 EUR 57.590 Landesbank Baden-Wuerttem 4.500 2/28/2020 EUR 74.020 Landesbank Baden-Wuerttem 6.000 2/28/2020 EUR 68.510 Landesbank Baden-Wuerttem 2.500 2/28/2020 EUR 73.910 Landesbank Baden-Wuerttem 3.500 2/28/2020 EUR 68.370 Landesbank Baden-Wuerttem 4.500 2/28/2020 EUR 65.530 Landesbank Baden-Wuerttem 2.000 2/28/2020 EUR 63.550 Landesbank Baden-Wuerttem 3.500 2/28/2020 EUR 56.860 Landesbank Baden-Wuerttem 5.000 2/28/2020 EUR 51.570 Landesbank Baden-Wuerttem 2.500 2/28/2020 EUR 24.200 Landesbank Baden-Wuerttem 4.000 2/28/2020 EUR 22.120 UniCredit Bank AG 4.000 3/2/2020 EUR 42.930 Goldman Sachs & Co Wertpa 14.000 12/27/2019 EUR 70.800 Goldman Sachs & Co Wertpa 6.000 12/27/2019 EUR 73.570 UBS AG/London 10.500 2/28/2020 CHF 40.550 UBS AG/London 7.500 2/28/2020 EUR 74.050 Raiffeisen Schweiz Genoss 5.750 9/9/2020 CHF 50.910 DekaBank Deutsche Girozen 3.100 3/27/2020 EUR 73.950 Leonteq Securities AG/Gue 8.200 3/2/2020 CHF 19.800 DekaBank Deutsche Girozen 2.200 5/28/2021 EUR 64.350 DekaBank Deutsche Girozen 2.900 5/29/2020 EUR 53.880 UniCredit Bank AG 8.600 1/3/2020 EUR 45.420 UniCredit Bank AG 12.700 1/3/2020 EUR 50.170 UniCredit Bank AG 14.900 1/3/2020 EUR 46.270 UniCredit Bank AG 4.400 1/3/2020 EUR 66.230 UniCredit Bank AG 10.200 1/3/2020 EUR 65.220 UniCredit Bank AG 8.100 1/3/2020 EUR 70.400 UniCredit Bank AG 11.500 1/3/2020 EUR 65.590 UniCredit Bank AG 12.200 1/3/2020 EUR 71.750 UniCredit Bank AG 8.900 1/3/2020 EUR 58.410 UniCredit Bank AG 5.800 1/3/2020 EUR 18.770 UniCredit Bank AG 4.900 1/3/2020 EUR 56.680 UniCredit Bank AG 14.700 1/3/2020 EUR 72.730 UniCredit Bank AG 13.900 1/3/2020 EUR 40.410 UniCredit Bank AG 5.100 1/3/2020 EUR 75.840 UniCredit Bank AG 14.200 1/3/2020 EUR 50.480 UniCredit Bank AG 11.200 1/3/2020 EUR 39.520 UniCredit Bank AG 8.300 1/3/2020 EUR 70.710 UniCredit Bank AG 14.800 1/3/2020 EUR 57.540 Leonteq Securities AG/Gue 7.500 2/6/2020 CHF 64.250 Leonteq Securities AG 3.800 2/15/2021 CHF 31.570 Credit Suisse AG/Nassau 5.500 2/17/2020 CHF 70.640 UBS AG/London 6.000 1/31/2020 CHF 60.850 UBS AG/London 5.250 1/31/2020 CHF 39.200 UBS AG/London 6.500 7/31/2020 CHF 69.950 UBS AG/London 6.750 7/31/2020 CHF 70.500 UBS AG/London 5.500 1/31/2020 EUR 66.400 UBS AG/London 7.500 7/31/2020 EUR 43.200 UBS AG/London 6.000 1/31/2020 EUR 72.600 UBS AG/London 6.500 1/31/2020 USD 50.100 EFG International Finance 7.800 2/15/2021 EUR 68.330 Raiffeisen Schweiz Genoss 5.250 2/9/2021 CHF 47.170 Raiffeisen Schweiz Genoss 7.000 2/12/2020 CHF 68.020 Vontobel Financial Produc 6.100 1/30/2020 EUR 70.680 DekaBank Deutsche Girozen 3.500 8/21/2020 EUR 73.330 Corner Banca SA 7.600 2/2/2021 CHF 66.680 DekaBank Deutsche Girozen 2.050 12/11/2020 EUR 61.050 DekaBank Deutsche Girozen 2.750 12/11/2020 EUR 53.280 DekaBank Deutsche Girozen 3.000 2/14/2020 EUR 67.880 DekaBank Deutsche Girozen 4.250 8/21/2020 EUR 70.390 DekaBank Deutsche Girozen 6.550 8/21/2020 EUR 64.720 Landesbank Hessen-Thuerin 3.500 3/9/2022 EUR 66.650 Landesbank Baden-Wuerttem 3.500 11/27/2020 EUR 74.210 Landesbank Baden-Wuerttem 2.600 11/27/2020 EUR 55.890 DekaBank Deutsche Girozen 2.050 2/14/2020 EUR 57.460 UBS AG/London 6.250 2/7/2020 CHF 40.200 UBS AG/London 6.500 2/7/2020 CHF 61.700 UBS AG/London 8.250 2/7/2020 EUR 58.550 UBS AG/London 5.000 2/7/2020 CHF 75.450 UBS AG/London 8.000 2/7/2020 CHF 48.200 Raiffeisen Centrobank AG 5.286 12/27/2019 EUR 73.780 Raiffeisen Centrobank AG 5.815 12/27/2019 EUR 66.480 Raiffeisen Centrobank AG 6.344 12/27/2019 EUR 74.000 EFG International Finance 7.200 2/22/2021 CHF 27.720 Barclays Bank PLC 3.500 8/17/2020 USD 69.770 Raiffeisen Schweiz Genoss 6.900 2/19/2020 EUR 73.520 Raiffeisen Schweiz Genoss 7.200 2/19/2020 CHF 71.610 Leonteq Securities AG/Gue 2.300 2/8/2023 CHF 59.240 UniCredit Bank AG 6.400 3/5/2021 EUR 54.150 UniCredit Bank AG 5.350 3/5/2021 EUR 65.790 DekaBank Deutsche Girozen 3.700 3/6/2020 EUR 54.910 Landesbank Hessen-Thuerin 5.550 3/16/2023 EUR 64.820 UBS AG/London 6.500 2/14/2020 USD 56.450 DZ Bank AG Deutsche Zentr 4.750 6/24/2020 EUR DZ Bank AG Deutsche Zentr 8.250 6/24/2020 EUR DZ Bank AG Deutsche Zentr 4.500 9/23/2020 EUR DZ Bank AG Deutsche Zentr 6.500 9/23/2020 EUR DZ Bank AG Deutsche Zentr 4.750 3/25/2020 EUR UniCredit Bank AG 10.100 6/25/2021 EUR 73.220 UniCredit Bank AG 8.600 12/24/2021 EUR 74.660 UniCredit Bank AG 13.600 3/27/2020 EUR 70.420 UniCredit Bank AG 10.800 3/27/2020 EUR 72.760 UniCredit Bank AG 7.700 12/24/2021 EUR 74.940 Commerzbank AG 21.500 1/24/2020 EUR 71.440 Commerzbank AG 11.500 6/26/2020 EUR 74.010 DekaBank Deutsche Girozen 3.700 10/2/2020 EUR 66.870 Leonteq Securities AG 10.200 12/27/2019 CHF 66.730 Leonteq Securities AG/Gue 10.600 12/27/2019 EUR 71.330 Raiffeisen Schweiz Genoss 8.500 12/27/2019 CHF 66.360 Credit Suisse AG/London 7.500 12/30/2019 CHF 70.150 UniCredit Bank AG 4.200 7/26/2022 EUR 67.860 Vontobel Financial Produc 4.450 12/31/2019 EUR 74.080 UniCredit Bank AG 8.900 12/29/2020 EUR 57.800 UniCredit Bank AG 7.900 12/29/2020 EUR 72.110 UniCredit Bank AG 6.800 12/29/2020 EUR 58.800 UniCredit Bank AG 7.400 12/29/2020 EUR 57.880 UniCredit Bank AG 6.700 12/29/2020 EUR 72.140 UniCredit Bank AG 9.100 12/29/2020 EUR 54.170 UniCredit Bank AG 8.300 12/29/2020 EUR 67.290 UniCredit Bank AG 6.000 12/29/2020 EUR 58.960 UniCredit Bank AG 8.400 12/29/2020 EUR 53.500 UniCredit Bank AG 9.200 12/29/2020 EUR 52.580 UniCredit Bank AG 6.700 12/29/2020 EUR 53.950 UniCredit Bank AG 8.500 12/29/2020 EUR 57.130 UniCredit Bank AG 10.100 12/29/2020 EUR 54.490 UniCredit Bank AG 6.800 12/29/2020 EUR 56.730 UniCredit Bank AG 7.400 12/29/2020 EUR 55.070 UniCredit Bank AG 6.100 12/29/2020 EUR 58.910 UniCredit Bank AG 6.800 12/29/2020 EUR 57.480 UniCredit Bank AG 6.600 12/29/2020 EUR 62.380 UniCredit Bank AG 9.300 12/29/2020 EUR 58.310 UniCredit Bank AG 9.400 12/29/2020 EUR 68.750 UniCredit Bank AG 7.200 12/29/2020 EUR 72.300 UniCredit Bank AG 14.800 12/29/2020 EUR 32.240 UniCredit Bank AG 6.500 12/29/2020 EUR 57.850 UniCredit Bank AG 12.200 12/29/2020 EUR 34.440 UniCredit Bank AG 9.300 12/29/2020 EUR 53.360 UniCredit Bank AG 6.900 12/29/2020 EUR 68.270 UniCredit Bank AG 10.600 12/29/2020 EUR 68.240 UniCredit Bank AG 11.200 12/29/2020 EUR 67.070 UniCredit Bank AG 6.200 12/29/2020 EUR 70.190 UniCredit Bank AG 8.300 12/29/2020 EUR 71.130 UniCredit Bank AG 10.100 12/29/2020 EUR 56.380 UniCredit Bank AG 10.700 12/29/2020 EUR 68.990 UniCredit Bank AG 9.200 12/29/2020 EUR 72.420 UniCredit Bank AG 7.300 12/29/2020 EUR 74.370 UniCredit Bank AG 8.200 12/29/2020 EUR 68.560 UniCredit Bank AG 7.900 12/29/2020 EUR 54.970 UniCredit Bank AG 8.900 12/29/2020 EUR 52.750 UniCredit Bank AG 7.500 12/29/2020 EUR 70.100 UniCredit Bank AG 8.400 12/29/2020 EUR 74.430 UniCredit Bank AG 9.500 12/29/2020 EUR 71.980 UniCredit Bank AG 6.600 12/29/2020 EUR 60.130 UniCredit Bank AG 6.500 12/29/2020 EUR 64.470 UniCredit Bank AG 7.200 12/29/2020 EUR 28.180 UniCredit Bank AG 8.100 12/29/2020 EUR 57.650 UniCredit Bank AG 7.300 12/29/2020 EUR 62.930 UniCredit Bank AG 8.700 12/29/2020 EUR 73.390 UniCredit Bank AG 6.500 12/29/2020 EUR 28.270 UniCredit Bank AG 10.700 12/29/2020 EUR 59.950 UniCredit Bank AG 9.100 12/29/2020 EUR 62.910 UniCredit Bank AG 7.000 12/29/2020 EUR 60.360 UniCredit Bank AG 10.900 12/29/2020 EUR 64.190 UniCredit Bank AG 9.700 12/29/2020 EUR 66.470 UniCredit Bank AG 12.000 12/29/2020 EUR 60.760 UniCredit Bank AG 8.300 12/29/2020 EUR 58.310 UniCredit Bank AG 7.200 12/29/2020 EUR 70.960 UniCredit Bank AG 9.000 12/29/2020 EUR 57.780 UniCredit Bank AG 7.900 12/29/2020 EUR 59.570 UniCredit Bank AG 5.700 1/3/2020 EUR 61.360 UniCredit Bank AG 6.100 1/3/2020 EUR 74.550 UniCredit Bank AG 13.800 1/3/2020 EUR 23.700 UBS AG/London 11.000 9/7/2020 EUR 70.600 UBS AG/London 9.000 9/7/2020 EUR 72.300 Vontobel Financial Produc 7.500 3/27/2020 EUR 66.160 Vontobel Financial Produc 12.000 1/3/2020 EUR 57.250 Vontobel Financial Produc 9.000 3/27/2020 EUR 62.800 Vontobel Financial Produc 11.000 1/3/2020 EUR 71.100 Vontobel Financial Produc 13.000 1/3/2020 EUR 66.910 Vontobel Financial Produc 12.500 3/27/2020 EUR 75.730 HSBC Trinkaus & Burkhardt 7.000 12/27/2019 EUR 71.260 HSBC Trinkaus & Burkhardt 5.400 6/26/2020 EUR 56.220 HSBC Trinkaus & Burkhardt 7.300 12/27/2019 EUR 70.600 HSBC Trinkaus & Burkhardt 7.400 12/27/2019 EUR 62.420 UBS AG/London 13.000 1/21/2020 USD 74.450 UBS AG/London 9.000 7/20/2020 CHF 65.850 UBS AG/London 6.000 7/20/2020 CHF 63.000 UBS AG/London 6.500 7/20/2020 EUR 57.350 Natixis SA 3.450 7/26/2021 RUB 80.899 Leonteq Securities AG/Gue 6.200 7/27/2021 CHF 63.490 UniCredit Bank AG 4.000 8/24/2021 EUR 69.350 Leonteq Securities AG 10.000 8/3/2020 CHF 32.020 Raiffeisen Schweiz Genoss 7.500 7/27/2020 CHF 61.910 Raiffeisen Schweiz Genoss 6.500 1/30/2020 CHF 61.120 Credit Suisse AG/Nassau 7.250 7/30/2020 EUR 75.930 Landesbank Baden-Wuerttem 4.150 10/22/2021 EUR 71.820 Leonteq Securities AG/Gue 10.000 7/27/2020 CHF 62.850 Leonteq Securities AG 7.200 2/2/2021 EUR 64.480 Raiffeisen Centrobank AG 8.687 12/27/2019 EUR 61.480 Raiffeisen Centrobank AG 7.992 12/27/2019 EUR 66.850 Raiffeisen Centrobank AG 6.255 12/27/2019 EUR 67.050 Raiffeisen Centrobank AG 6.950 12/27/2019 EUR 61.490 Deutsche Bank AG 4.200 12/27/2019 EUR 72.580 DekaBank Deutsche Girozen 4.000 8/21/2020 EUR 66.330 BNP Paribas Emissions- un 3.000 12/30/2019 EUR 73.850 Landesbank Baden-Wuerttem 2.300 8/27/2021 EUR 64.040 Deutsche Bank AG 4.200 12/24/2019 EUR 73.400 Deutsche Bank AG 4.200 12/24/2019 EUR 70.200 Deutsche Bank AG 4.200 12/24/2019 EUR 68.800 Deutsche Bank AG 4.200 12/24/2019 EUR 66.890 Deutsche Bank AG 4.200 12/24/2019 EUR 65.090 Deutsche Bank AG 4.200 12/24/2019 EUR 63.370 Deutsche Bank AG 4.200 12/24/2019 EUR 61.750 Deutsche Bank AG 4.200 12/24/2019 EUR 64.600 Deutsche Bank AG 4.200 12/24/2019 EUR 71.010 Deutsche Bank AG 9.000 12/24/2019 EUR Deutsche Bank AG 9.000 12/24/2019 EUR 53.430 Deutsche Bank AG 4.200 12/24/2019 EUR Deutsche Bank AG 4.200 12/24/2019 EUR Deutsche Bank AG 4.200 12/24/2019 EUR Deutsche Bank AG 4.200 12/24/2019 EUR Deutsche Bank AG 9.000 12/24/2019 EUR 68.700 Deutsche Bank AG 9.000 12/24/2019 EUR 66.200 Deutsche Bank AG 9.000 12/24/2019 EUR 60.350 Deutsche Bank AG 9.000 12/24/2019 EUR 58.700 Deutsche Bank AG 9.000 12/24/2019 EUR 68.990 Deutsche Bank AG 4.200 12/24/2019 EUR 68.000 Deutsche Bank AG 4.200 12/24/2019 EUR Deutsche Bank AG 4.200 12/24/2019 EUR 70.600 Leonteq Securities AG/Gue 5.600 8/6/2020 CHF 74.670 Raiffeisen Schweiz Genoss 6.300 2/3/2020 CHF 64.990 Raiffeisen Schweiz Genoss 5.800 8/3/2020 EUR 54.190 UBS AG/London 8.000 7/20/2020 CHF 62.400 UBS AG/London 9.000 7/20/2020 CHF 71.200 UBS AG/London 10.000 7/20/2020 EUR 68.650 UBS AG/London 9.750 7/20/2020 EUR 67.050 UBS AG/London 8.000 7/20/2020 EUR 56.900 Credit Suisse AG/Nassau 5.000 2/6/2020 CHF 60.690 DekaBank Deutsche Girozen 8.150 2/26/2021 EUR 66.730 Leonteq Securities AG/Gue 10.000 2/6/2020 CHF 74.190 Landesbank Hessen-Thuerin 2.750 8/31/2020 EUR 70.000 Leonteq Securities AG 6.200 8/6/2020 CHF 62.790 Leonteq Securities AG 7.000 8/3/2020 EUR 74.100 Goldman Sachs & Co Wertpa 14.000 12/27/2019 EUR 71.200 Goldman Sachs & Co Wertpa 16.000 12/27/2019 EUR 68.580 Goldman Sachs & Co Wertpa 14.000 3/25/2020 EUR 69.950 Goldman Sachs & Co Wertpa 13.000 6/24/2020 EUR 70.580 Goldman Sachs & Co Wertpa 12.000 6/24/2020 EUR 72.220 Goldman Sachs & Co Wertpa 10.000 12/27/2019 EUR 75.000 Goldman Sachs & Co Wertpa 14.000 12/27/2019 EUR 69.320 Goldman Sachs & Co Wertpa 12.000 3/25/2020 EUR 71.920 Leonteq Securities AG 7.800 1/30/2020 CHF 54.290 HSBC Trinkaus & Burkhardt 2.700 12/27/2019 EUR 65.390 HSBC Trinkaus & Burkhardt 3.300 12/27/2019 EUR 70.290 HSBC Trinkaus & Burkhardt 5.300 12/27/2019 EUR 57.870 Landesbank Hessen-Thuerin 1.950 9/3/2021 EUR 56.660 Goldman Sachs & Co Wertpa 9.000 12/27/2019 EUR 66.260 Goldman Sachs & Co Wertpa 15.000 12/27/2019 EUR 50.230 Goldman Sachs & Co Wertpa 4.000 3/25/2020 EUR 71.490 Goldman Sachs & Co Wertpa 13.000 3/25/2020 EUR 53.440 Goldman Sachs & Co Wertpa 5.000 6/24/2020 EUR 67.440 Goldman Sachs & Co Wertpa 7.000 6/24/2020 EUR 62.050 Goldman Sachs & Co Wertpa 10.000 6/24/2020 EUR 58.330 Goldman Sachs & Co Wertpa 5.000 3/25/2020 EUR 71.780 Goldman Sachs & Co Wertpa 8.000 3/25/2020 EUR 64.890 Goldman Sachs & Co Wertpa 15.000 3/25/2020 EUR 55.460 Goldman Sachs & Co Wertpa 6.000 6/24/2020 EUR 69.260 Goldman Sachs & Co Wertpa 3.000 12/27/2019 EUR 74.570 Goldman Sachs & Co Wertpa 5.000 12/27/2019 EUR 66.440 UniCredit Bank AG 5.000 9/14/2021 EUR 68.030 Societe Generale Effekten 15.533 6/19/2020 EUR 61.060 DekaBank Deutsche Girozen 5.500 2/26/2021 EUR 73.970 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 27.520 BNP Paribas Emissions- un 9.000 12/30/2019 EUR 54.170 BNP Paribas Emissions- un 7.500 12/30/2019 EUR 64.910 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 60.140 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 62.020 BNP Paribas Emissions- un 14.000 12/30/2019 EUR 58.680 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 64.480 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 66.240 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 53.840 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 59.650 BNP Paribas Emissions- un 7.500 12/30/2019 EUR 58.030 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 50.300 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 74.010 SG Issuer SA 3.000 9/2/2021 EUR 63.680 Raiffeisen Centrobank AG 9.511 12/27/2019 EUR 71.770 Raiffeisen Centrobank AG 12.681 12/27/2019 EUR 73.470 Raiffeisen Centrobank AG 14.442 12/27/2019 EUR 73.440 Raiffeisen Centrobank AG 11.272 12/27/2019 EUR 74.260 Landesbank Baden-Wuerttem 2.500 1/24/2020 EUR 67.450 Landesbank Baden-Wuerttem 6.000 1/24/2020 EUR 72.170 Landesbank Baden-Wuerttem 2.500 1/24/2020 EUR 72.540 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 65.900 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 60.760 Landesbank Baden-Wuerttem 6.000 1/24/2020 EUR 71.460 Landesbank Baden-Wuerttem 3.500 1/24/2020 EUR 56.430 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 53.590 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 31.730 Landesbank Baden-Wuerttem 6.000 1/24/2020 EUR 27.320 Landesbank Baden-Wuerttem 5.500 1/24/2020 EUR 66.910 UBS AG/London 6.500 2/24/2020 CHF 53.400 Landesbank Baden-Wuerttem 5.500 2/28/2020 EUR 57.520 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 68.420 UBS AG/London 10.000 8/24/2020 CHF 69.550 Landesbank Baden-Wuerttem 3.500 1/24/2020 EUR 73.840 UBS AG/London 7.500 8/24/2020 CHF 64.200 UBS AG/London 11.000 8/24/2020 CHF 70.850 Landesbank Baden-Wuerttem 3.500 1/24/2020 EUR 60.500 Raiffeisen Schweiz Genoss 7.200 2/24/2020 CHF 65.930 Vontobel Financial Produc 9.000 12/31/2019 EUR 54.480 Vontobel Financial Produc 7.000 12/31/2019 EUR 66.220 DZ Bank AG Deutsche Zentr 5.100 12/31/2019 EUR 29.710 UniCredit Bank AG 3.800 8/30/2023 EUR 67.770 Raiffeisen Schweiz Genoss 7.200 3/10/2020 CHF 68.490 Raiffeisen Schweiz Genoss 7.100 3/10/2020 CHF 68.620 Landesbank Hessen-Thuerin 5.200 1/8/2024 EUR 70.700 Raiffeisen Centrobank AG 5.500 10/9/2020 EUR 61.330 HSBC Trinkaus & Burkhardt 2.900 12/27/2019 EUR 75.920 HSBC Trinkaus & Burkhardt 8.700 12/27/2019 EUR 61.890 BNP Paribas Emissions- un 7.000 12/30/2019 EUR 70.030 UBS AG/London 10.000 9/7/2020 CHF 43.500 Raiffeisen Centrobank AG 8.342 3/24/2020 EUR 72.250 UBS AG/London 8.700 1/2/2020 EUR 67.500 UBS AG/London 6.300 1/2/2020 EUR 73.460 UBS AG/London 7.600 1/2/2020 EUR 73.720 UBS AG/London 6.900 1/2/2020 EUR 75.310 UBS AG/London 6.600 1/2/2020 EUR 70.300 UBS AG/London 3.000 1/2/2020 EUR 72.510 UBS AG/London 6.500 1/2/2020 EUR 71.850 UBS AG/London 6.700 3/26/2020 EUR 75.050 UBS AG/London 4.200 6/25/2020 EUR 65.600 Leonteq Securities AG 9.000 12/17/2019 CHF 73.450 Credit Suisse AG/Nassau 7.000 12/17/2019 CHF 70.160 Societe Generale Effekten 12.545 1/2/2020 EUR 69.370 Societe Generale Effekten 13.866 1/2/2020 EUR 68.120 Societe Generale Effekten 15.847 1/2/2020 EUR 67.220 Societe Generale Effekten 4.622 1/2/2020 EUR 72.100 Societe Generale Effekten 9.244 1/2/2020 EUR 62.020 Societe Generale Effekten 10.564 1/2/2020 EUR 76.410 Societe Generale Effekten 4.622 1/2/2020 EUR 73.400 Societe Generale Effekten 7.923 1/2/2020 EUR 65.450 DekaBank Deutsche Girozen 3.150 10/2/2020 EUR 68.430 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 70.060 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 72.800 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 74.070 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 69.820 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 58.890 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 65.730 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 64.090 BNP Paribas Emissions- un 5.000 12/30/2019 EUR 66.040 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 71.170 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 63.860 BNP Paribas Emissions- un 8.500 12/30/2019 EUR 63.770 BNP Paribas Emissions- un 9.000 12/30/2019 EUR 61.930 BNP Paribas Emissions- un 13.000 12/30/2019 EUR 60.010 Societe Generale Effekten 5.745 12/20/2019 EUR 68.510 Societe Generale Effekten 7.341 12/20/2019 EUR 64.510 Societe Generale Effekten 9.140 3/20/2020 EUR 67.470 Societe Generale Effekten 11.121 9/18/2020 EUR 69.420 Societe Generale Effekten 16.597 12/20/2019 EUR 55.460 Societe Generale Effekten 15.959 12/20/2019 EUR 66.490 Societe Generale Effekten 11.171 12/20/2019 EUR 74.800 Societe Generale Effekten 12.129 12/20/2019 EUR 73.510 Societe Generale Effekten 14.363 12/20/2019 EUR 70.510 Societe Generale Effekten 16.278 12/20/2019 EUR 67.470 Societe Generale Effekten 9.256 12/20/2019 EUR 33.890 Societe Generale Effekten 9.901 3/20/2020 EUR 36.350 Credit Suisse AG/London 10.500 3/23/2020 USD 69.120 Leonteq Securities AG 10.000 3/17/2020 CHF 62.870 DZ Bank AG Deutsche Zentr 10.250 12/27/2019 EUR 62.060 DZ Bank AG Deutsche Zentr 7.000 12/27/2019 EUR 74.010 DZ Bank AG Deutsche Zentr 6.750 12/27/2019 EUR 74.380 DZ Bank AG Deutsche Zentr 7.500 12/27/2019 EUR 74.630 Leonteq Securities AG/Gue 10.200 3/18/2020 CHF 58.270 Leonteq Securities AG/Gue 10.000 12/20/2019 CHF 59.930 Vontobel Financial Produc 4.250 12/30/2019 EUR 55.780 UBS AG/London 11.000 3/12/2020 USD 64.300 UBS AG/London 11.000 3/12/2020 CHF 61.600 UniCredit Bank AG 5.550 10/5/2021 EUR 66.770 UBS AG/London 11.000 3/12/2020 CHF 62.450 UBS AG/London 12.000 3/12/2020 EUR 48.550 Leonteq Securities AG/Gue 9.000 12/27/2019 CHF 74.270 Leonteq Securities AG/Gue 10.200 12/20/2019 CHF 66.550 Raiffeisen Centrobank AG 6.197 12/27/2019 EUR 55.550 Landesbank Hessen-Thuerin 6.000 8/25/2023 EUR 58.480 Deutsche Bank AG 3.200 12/24/2019 EUR 62.600 Deutsche Bank AG 3.200 12/24/2019 EUR 61.200 Deutsche Bank AG 3.200 12/24/2019 EUR 61.000 Deutsche Bank AG 3.200 12/24/2019 EUR 58.000 Deutsche Bank AG 3.200 12/24/2019 EUR 57.300 Deutsche Bank AG 3.200 12/24/2019 EUR 64.500 Raiffeisen Switzerland BV 7.800 4/27/2020 EUR 74.990 UniCredit Bank AG 3.700 5/18/2022 CHF 64.420 Landesbank Hessen-Thuerin 3.450 9/9/2020 EUR 71.500 EFG International Finance 8.000 3/9/2020 USD 42.910 Commerzbank AG 10.000 3/2/2020 EUR 26.680 Landesbank Hessen-Thuerin 3.100 10/6/2020 EUR 70.600 DZ Bank AG Deutsche Zentr 6.000 7/22/2020 EUR 72.920 DZ Bank AG Deutsche Zentr 12.000 6/24/2020 EUR 72.410 DZ Bank AG Deutsche Zentr 10.000 12/27/2019 EUR 72.780 Vontobel Financial Produc 6.000 1/3/2020 EUR 67.440 Vontobel Financial Produc 9.000 1/3/2020 EUR 61.810 Vontobel Financial Produc 4.000 1/3/2020 EUR 69.150 Vontobel Financial Produc 5.500 1/3/2020 EUR 65.380 Vontobel Financial Produc 12.000 1/3/2020 EUR 53.810 Vontobel Financial Produc 8.500 1/3/2020 EUR 58.990 Vontobel Financial Produc 7.000 1/3/2020 EUR 72.770 Vontobel Financial Produc 9.500 1/3/2020 EUR 68.960 Vontobel Financial Produc 8.500 1/3/2020 EUR 70.830 Vontobel Financial Produc 7.000 1/3/2020 EUR 72.190 Vontobel Financial Produc 10.000 1/3/2020 EUR 65.120 Vontobel Financial Produc 16.000 1/3/2020 EUR 55.670 DekaBank Deutsche Girozen 3.800 11/13/2020 EUR 72.860 UBS AG/London 9.330 4/9/2020 USD 5.865 Societe Generale Effekten 17.003 9/18/2020 EUR 71.490 Societe Generale Effekten 25.504 9/18/2020 EUR 68.490 DZ Bank AG Deutsche Zentr 8.250 3/23/2020 EUR 68.590 UniCredit Bank AG 6.000 2/22/2022 EUR 69.790 Vontobel Financial Produc 10.500 3/27/2020 EUR 69.630 Vontobel Financial Produc 8.500 1/3/2020 EUR 72.700 Vontobel Financial Produc 9.000 1/3/2020 EUR 53.950 Vontobel Financial Produc 10.500 1/3/2020 EUR 51.200 Vontobel Financial Produc 11.000 3/27/2020 EUR 51.520 Vontobel Financial Produc 9.500 3/27/2020 EUR 53.640 Vontobel Financial Produc 12.500 1/3/2020 EUR 48.740 BNP Paribas Emissions- un 6.500 12/30/2019 EUR 43.420 Bank Julius Baer & Co Ltd 12.050 5/4/2020 USD 75.400 Bank Julius Baer & Co Ltd 15.500 5/4/2020 USD 72.400 Vontobel Financial Produc 11.500 1/3/2020 EUR 63.850 Vontobel Financial Produc 10.500 3/27/2020 EUR 65.840 Vontobel Financial Produc 11.500 3/27/2020 EUR 64.310 Vontobel Financial Produc 13.000 1/3/2020 EUR 62.050 Vontobel Financial Produc 9.500 1/3/2020 EUR 61.340 Vontobel Financial Produc 11.500 1/3/2020 EUR 58.660 Vontobel Financial Produc 10.500 3/27/2020 EUR 60.990 Commerzbank AG 13.750 12/31/2019 EUR 58.680 Commerzbank AG 10.250 12/31/2019 EUR 68.680 Commerzbank AG 12.250 12/31/2019 EUR 64.830 Vontobel Financial Produc 9.500 2/28/2020 EUR 53.600 Vontobel Financial Produc 14.500 1/3/2020 EUR 60.360 Vontobel Financial Produc 12.500 3/27/2020 EUR 62.870 Vontobel Financial Produc 13.500 3/27/2020 EUR 61.520 Vontobel Financial Produc 16.000 1/3/2020 EUR 58.760 Societe Generale Effekten 8.740 12/20/2019 EUR 61.640 Societe Generale Effekten 12.017 12/20/2019 EUR 57.460 Societe Generale Effekten 20.320 12/20/2019 EUR 49.780 Societe Generale Effekten 21.194 12/20/2019 EUR 49.060 Societe Generale Effekten 22.068 12/20/2019 EUR 48.370 Societe Generale Effekten 6.443 3/20/2020 EUR 70.690 Societe Generale Effekten 9.805 3/20/2020 EUR 65.200 Societe Generale Effekten 13.447 3/20/2020 EUR 75.400 Leonteq Securities AG/Gue 13.000 8/4/2020 CHF 44.140 Societe Generale Effekten 26.656 12/20/2019 EUR 59.180 Societe Generale Effekten 24.652 3/20/2020 EUR 73.930 Societe Generale Effekten 29.695 3/20/2020 EUR 69.000 Societe Generale Effekten 5.899 12/20/2019 EUR 44.420 Societe Generale Effekten 9.832 12/20/2019 EUR 38.320 Societe Generale Effekten 12.017 12/20/2019 EUR 35.900 Societe Generale Effekten 8.684 3/20/2020 EUR 44.060 Societe Generale Effekten 10.925 3/20/2020 EUR 41.650 Societe Generale Effekten 7.866 12/20/2019 EUR 73.410 Societe Generale Effekten 10.269 12/20/2019 EUR 69.040 Societe Generale Effekten 12.891 12/20/2019 EUR 65.110 Societe Generale Effekten 15.732 12/20/2019 EUR 61.630 Societe Generale Effekten 24.471 12/20/2019 EUR 53.210 Societe Generale Effekten 11.766 3/20/2020 EUR 72.090 Societe Generale Effekten 24.471 12/20/2019 EUR 71.880 Societe Generale Effekten 6.773 12/20/2019 EUR 72.960 Vontobel Financial Produc 7.500 3/27/2020 EUR 59.440 Raiffeisen Schweiz Genoss 9.500 4/22/2020 CHF 66.940 DZ Bank AG Deutsche Zentr 9.250 12/27/2019 EUR 67.360 BNP Paribas Emissions- un 9.000 12/30/2019 EUR 70.870 BNP Paribas Emissions- un 18.000 12/30/2019 EUR 56.850 UniCredit Bank AG 14.000 12/29/2020 EUR 36.770 UniCredit Bank AG 12.800 12/29/2020 EUR 37.200 UniCredit Bank AG 8.600 1/3/2020 EUR 35.060 UniCredit Bank AG 16.200 6/26/2020 EUR 68.160 UniCredit Bank AG 7.500 12/24/2021 EUR 74.770 UniCredit Bank AG 10.200 12/28/2020 EUR 72.700 UniCredit Bank AG 10.100 6/25/2021 EUR 72.830 UniCredit Bank AG 19.300 3/27/2020 EUR 66.290 UniCredit Bank AG 10.500 6/26/2020 EUR 72.210 UniCredit Bank AG 13.300 6/26/2020 EUR 69.980 UniCredit Bank AG 19.700 3/27/2020 EUR 72.510 DekaBank Deutsche Girozen 2.700 5/29/2020 EUR 54.080 DekaBank Deutsche Girozen 3.100 5/28/2021 EUR 70.260 Landesbank Baden-Wuerttem 2.750 5/31/2021 EUR 58.550 Deutsche Bank AG 6.200 12/24/2019 EUR 53.600 Deutsche Bank AG 6.200 12/24/2019 EUR 51.200 Deutsche Bank AG 6.200 12/24/2019 EUR 58.600 Deutsche Bank AG 6.200 12/24/2019 EUR 56.400 Deutsche Bank AG 6.200 12/24/2019 EUR 58.730 Deutsche Bank AG 6.200 12/24/2019 EUR 56.290 Deutsche Bank AG 6.200 12/24/2019 EUR 51.190 Deutsche Bank AG 6.200 12/24/2019 EUR 65.030 Landesbank Baden-Wuerttem 4.000 4/24/2020 EUR 61.020 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 57.220 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 72.130 Landesbank Baden-Wuerttem 3.500 4/24/2020 EUR 65.250 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 58.950 Landesbank Baden-Wuerttem 4.000 4/24/2020 EUR 72.170 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 69.070 Landesbank Baden-Wuerttem 6.000 4/24/2020 EUR 63.370 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 72.800 Landesbank Baden-Wuerttem 3.500 4/24/2020 EUR 65.860 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 61.080 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 60.040 Landesbank Baden-Wuerttem 3.000 4/24/2020 EUR 57.130 Landesbank Baden-Wuerttem 4.000 4/24/2020 EUR 51.910 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 49.880 Landesbank Baden-Wuerttem 2.500 4/24/2020 EUR 26.270 Landesbank Baden-Wuerttem 4.500 4/24/2020 EUR 23.790 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 63.110 Landesbank Baden-Wuerttem 3.000 4/24/2020 EUR 60.310 Landesbank Baden-Wuerttem 4.000 4/24/2020 EUR 57.680 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 68.660 Landesbank Baden-Wuerttem 3.500 4/24/2020 EUR 60.900 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 60.970 Landesbank Baden-Wuerttem 4.000 4/24/2020 EUR 54.740 Landesbank Baden-Wuerttem 2.500 5/22/2020 EUR 66.680 Landesbank Baden-Wuerttem 4.000 5/22/2020 EUR 60.180 Landesbank Baden-Wuerttem 5.500 5/22/2020 EUR 55.020 Landesbank Baden-Wuerttem 5.000 5/22/2020 EUR 72.460 Landesbank Baden-Wuerttem 2.500 4/24/2020 EUR 56.910 Landesbank Baden-Wuerttem 4.000 4/24/2020 EUR 51.830 Landesbank Baden-Wuerttem 4.000 4/24/2020 EUR 68.890 Landesbank Baden-Wuerttem 5.500 4/24/2020 EUR 64.180 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 66.930 Landesbank Baden-Wuerttem 3.000 4/24/2020 EUR 63.800 Landesbank Baden-Wuerttem 2.000 4/24/2020 EUR 74.490 Landesbank Baden-Wuerttem 3.500 4/24/2020 EUR 65.140 UBS AG/London 4.800 1/2/2020 EUR 67.860 UBS AG/London 3.300 1/2/2020 EUR 65.950 UBS AG/London 5.100 3/26/2020 EUR 57.290 UBS AG/London 13.000 5/4/2020 CHF 54.650 UBS AG/London 10.500 11/3/2020 CHF 72.000 EFG International Finance 7.000 11/17/2020 CHF 62.890 DekaBank Deutsche Girozen 5.950 12/4/2020 EUR 57.530 Raiffeisen Schweiz Genoss 5.200 11/11/2020 CHF 62.530 Raiffeisen Schweiz Genoss 3.400 5/14/2020 CHF 60.290 Corner Banca SA 8.200 5/14/2020 CHF 20.640 Landesbank Hessen-Thuerin 4.000 6/8/2022 EUR 65.290 Landesbank Hessen-Thuerin 4.000 6/8/2022 EUR 62.600 HSBC Trinkaus & Burkhardt 6.600 12/27/2019 EUR 21.540 HSBC Trinkaus & Burkhardt 5.000 12/27/2019 EUR 21.490 HSBC Trinkaus & Burkhardt 3.200 12/27/2019 EUR 21.440 HSBC Trinkaus & Burkhardt 4.600 12/27/2019 EUR 49.810 Landesbank Baden-Wuerttem 4.500 6/26/2020 EUR 66.570 Landesbank Baden-Wuerttem 4.850 6/26/2020 EUR 68.310 Landesbank Baden-Wuerttem 5.000 6/26/2020 EUR 52.570 Landesbank Baden-Wuerttem 5.250 6/26/2020 EUR 72.200 UBS AG/London 10.500 4/20/2020 EUR 56.150 UBS AG/London 6.250 4/20/2020 CHF 48.200 Corner Banca SA 8.000 5/25/2021 CHF 66.820 UniCredit Bank AG 5.000 6/11/2021 EUR 64.340 Citigroup Global Markets 7.200 5/24/2023 SEK 41.800 Raiffeisen Schweiz Genoss 5.750 5/18/2020 CHF 60.060 Raiffeisen Schweiz Genoss 6.500 5/18/2020 CHF 20.390 Raiffeisen Schweiz Genoss 5.300 11/23/2020 CHF 61.220 Bank Julius Baer & Co Ltd 6.000 5/11/2020 CHF 69.950 Landesbank Hessen-Thuerin 4.000 6/22/2022 EUR 61.070 Leonteq Securities AG/Gue 5.500 5/25/2021 CHF 63.900 Landesbank Hessen-Thuerin 3.500 12/18/2019 EUR 56.700 Leonteq Securities AG 7.800 5/14/2021 CHF 29.130 Leonteq Securities AG 6.800 5/11/2021 EUR 74.690 DekaBank Deutsche Girozen 3.500 8/14/2020 EUR 74.660 UniCredit Bank AG 8.300 12/29/2020 EUR 71.470 UniCredit Bank AG 7.700 12/29/2020 EUR 73.220 UniCredit Bank AG 8.100 12/29/2020 EUR 63.590 UniCredit Bank AG 12.100 1/3/2020 EUR 22.250 UniCredit Bank AG 6.200 12/29/2020 EUR 69.470 UniCredit Bank AG 8.200 12/29/2020 EUR 71.890 UniCredit Bank AG 6.200 12/29/2020 EUR 75.890 UniCredit Bank AG 7.400 12/29/2020 EUR 73.410 UniCredit Bank AG 8.800 12/29/2020 EUR 69.980 UniCredit Bank AG 11.800 1/3/2020 EUR 54.550 UniCredit Bank AG 8.000 1/3/2020 EUR 73.610 UniCredit Bank AG 10.200 1/3/2020 EUR 67.440 UniCredit Bank AG 5.400 1/3/2020 EUR 1.010 UniCredit Bank AG 7.400 1/3/2020 EUR 49.230 UniCredit Bank AG 11.400 1/3/2020 EUR 41.180 UniCredit Bank AG 8.200 1/3/2020 EUR 73.520 UniCredit Bank AG 7.000 12/29/2020 EUR 72.850 UniCredit Bank AG 8.400 12/29/2020 EUR 75.960 UniCredit Bank AG 8.500 12/29/2020 EUR 55.300 UniCredit Bank AG 6.100 12/29/2020 EUR 56.820 UniCredit Bank AG 9.800 12/29/2020 EUR 53.040 UniCredit Bank AG 7.200 12/29/2020 EUR 67.710 UniCredit Bank AG 6.800 12/29/2020 EUR 55.440 UniCredit Bank AG 9.400 12/29/2020 EUR 68.970 UniCredit Bank AG 6.300 12/29/2020 EUR 65.190 UniCredit Bank AG 7.300 12/29/2020 EUR 62.470 UniCredit Bank AG 9.800 12/29/2020 EUR 61.760 UniCredit Bank AG 8.700 12/29/2020 EUR 74.340 UniCredit Bank AG 9.300 12/29/2020 EUR 69.480 UniCredit Bank AG 8.700 12/29/2020 EUR 71.050 UniCredit Bank AG 8.100 12/29/2020 EUR 72.000 UniCredit Bank AG 7.600 12/29/2020 EUR 46.030 UniCredit Bank AG 6.700 12/29/2020 EUR 47.600 UniCredit Bank AG 6.600 12/29/2020 EUR 60.230 UniCredit Bank AG 6.900 12/29/2020 EUR 74.470 UniCredit Bank AG 11.800 12/29/2020 EUR 61.450 UniCredit Bank AG 8.700 12/29/2020 EUR 9.860 UniCredit Bank AG 9.800 12/29/2020 EUR 74.620 UniCredit Bank AG 8.800 12/29/2020 EUR 62.290 UniCredit Bank AG 9.500 12/29/2020 EUR 60.940 UniCredit Bank AG 11.000 12/29/2020 EUR 71.570 UniCredit Bank AG 8.400 12/29/2020 EUR 57.470 UniCredit Bank AG 11.500 12/29/2020 EUR 70.500 UniCredit Bank AG 8.100 12/29/2020 EUR 70.770 UniCredit Bank AG 9.200 12/29/2020 EUR 68.320 UniCredit Bank AG 10.000 12/29/2020 EUR 47.550 UniCredit Bank AG 9.300 12/29/2020 EUR 48.130 UniCredit Bank AG 8.100 12/29/2020 EUR 59.600 UniCredit Bank AG 6.600 12/29/2020 EUR 62.400 UniCredit Bank AG 8.400 12/29/2020 EUR 27.310 UniCredit Bank AG 8.900 12/29/2020 EUR 27.220 UniCredit Bank AG 9.200 12/29/2020 EUR 72.110 UniCredit Bank AG 7.300 12/29/2020 EUR 62.560 UniCredit Bank AG 10.500 12/29/2020 EUR 69.250 UniCredit Bank AG 6.600 12/29/2020 EUR 63.840 UniCredit Bank AG 6.600 12/29/2020 EUR 58.720 UniCredit Bank AG 8.300 12/29/2020 EUR 55.250 UniCredit Bank AG 9.300 12/29/2020 EUR 53.070 UniCredit Bank AG 10.500 12/29/2020 EUR 48.260 UniCredit Bank AG 7.000 12/29/2020 EUR 51.540 UniCredit Bank AG 8.400 12/29/2020 EUR 54.510 UniCredit Bank AG 9.400 12/29/2020 EUR 72.850 UniCredit Bank AG 7.600 12/29/2020 EUR 49.450 UniCredit Bank AG 9.200 12/29/2020 EUR 49.960 UniCredit Bank AG 8.000 12/29/2020 EUR 50.150 UniCredit Bank AG 8.500 12/29/2020 EUR 55.390 UniCredit Bank AG 6.400 12/29/2020 EUR 59.980 UniCredit Bank AG 7.500 12/29/2020 EUR 70.080 UniCredit Bank AG 12.000 12/29/2020 EUR 30.990 UniCredit Bank AG 9.400 12/29/2020 EUR 74.600 UniCredit Bank AG 8.300 12/29/2020 EUR 68.320 UniCredit Bank AG 13.900 12/29/2020 EUR 29.910 UniCredit Bank AG 7.800 12/29/2020 EUR 71.440 UniCredit Bank AG 8.700 12/29/2020 EUR 47.440 UniCredit Bank AG 10.600 12/29/2020 EUR 69.780 UniCredit Bank AG 8.400 12/29/2020 EUR 55.860 UniCredit Bank AG 10.800 12/29/2020 EUR 65.700 UniCredit Bank AG 8.000 12/29/2020 EUR 70.080 UniCredit Bank AG 8.100 12/29/2020 EUR 61.470 UniCredit Bank AG 9.200 12/29/2020 EUR 54.390 UniCredit Bank AG 6.100 12/29/2020 EUR 74.520 UniCredit Bank AG 8.900 12/29/2020 EUR 60.010 Landesbank Hessen-Thuerin 4.000 7/20/2022 EUR 70.880 Raiffeisen Centrobank AG 5.300 7/21/2020 EUR 61.870 DekaBank Deutsche Girozen 3.000 1/18/2021 EUR 65.260 UBS AG/London 11.000 12/20/2019 CHF 46.900 Corner Banca SA 11.200 1/3/2020 CHF 55.220 Credit Suisse AG/Nassau 7.200 7/5/2021 CHF 67.840 UniCredit Bank AG 5.000 7/26/2021 EUR 73.820 UniCredit Bank AG 6.400 7/23/2021 EUR 74.120 DekaBank Deutsche Girozen 2.000 7/30/2021 EUR 66.940 Landesbank Baden-Wuerttem 3.000 2/26/2021 EUR 74.270 UBS AG/London 11.250 12/20/2019 EUR 54.950 DekaBank Deutsche Girozen 2.100 1/5/2021 EUR 67.890 Landesbank Hessen-Thuerin 2.600 7/29/2020 EUR 69.300 UniCredit Bank AG 3.500 1/5/2021 EUR 50.600 UniCredit Bank AG 3.500 1/5/2021 EUR 47.750 UniCredit Bank AG 3.500 1/5/2021 EUR 71.000 UniCredit Bank AG 4.000 1/5/2021 EUR 57.350 DekaBank Deutsche Girozen 4.550 7/31/2020 EUR 68.290 DekaBank Deutsche Girozen 6.050 7/31/2020 EUR 59.700 DekaBank Deutsche Girozen 2.250 1/22/2021 EUR 74.080 Landesbank Baden-Wuerttem 3.000 2/25/2022 EUR 59.630 Landesbank Baden-Wuerttem 2.600 9/25/2020 EUR 61.580 Raiffeisen Centrobank AG 5.200 2/3/2020 EUR 72.630 Societe Generale SA 8.000 12/24/2020 USD 66.260 UBS AG/London 6.000 12/30/2019 CHF 69.750 UBS AG/London 5.250 12/30/2019 CHF 74.750 UBS AG/London 7.500 12/30/2019 EUR 53.600 DekaBank Deutsche Girozen 3.250 1/24/2020 EUR 52.060 Leonteq Securities AG/Gue 7.600 1/9/2020 CHF 71.270 Leonteq Securities AG/Gue 10.000 1/3/2020 CHF 43.730 Raiffeisen Schweiz Genoss 6.900 12/30/2019 EUR 58.810 Leonteq Securities AG/Gue 5.200 6/12/2020 CHF 59.810 UBS AG/London 7.000 1/6/2020 CHF 67.900 BNP Paribas Emissions- un 3.000 12/30/2019 EUR 63.510 BNP Paribas Emissions- un 6.000 12/30/2019 EUR 63.600 Landesbank Baden-Wuerttem 5.000 2/28/2020 EUR 50.020 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 65.100 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 63.430 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 55.850 Landesbank Baden-Wuerttem 2.500 1/24/2020 EUR 55.650 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 48.290 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 72.500 Landesbank Baden-Wuerttem 2.000 1/24/2020 EUR 64.040 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 54.390 Landesbank Baden-Wuerttem 3.500 1/24/2020 EUR 20.490 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 55.470 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 50.490 Landesbank Baden-Wuerttem 2.000 1/24/2020 EUR 66.340 UniCredit Bank AG 5.000 1/3/2020 EUR 57.960 UniCredit Bank AG 12.900 1/3/2020 EUR 25.190 UniCredit Bank AG 6.400 1/3/2020 EUR 68.890 UBS AG/London 11.000 12/27/2019 USD 65.270 UBS AG/London 6.000 12/27/2019 EUR 73.200 UBS AG/London 10.000 12/27/2019 CHF 50.600 UBS AG/London 9.500 12/27/2019 CHF 55.400 UBS AG/London 7.000 6/22/2020 CHF 73.900 UBS AG/London 6.000 6/29/2020 CHF 53.100 UBS AG/London 6.250 6/29/2020 CHF 61.500 UBS AG/London 7.500 6/29/2020 EUR 58.500 UBS AG/London 8.000 12/27/2019 CHF 71.250 UBS AG/London 6.000 12/28/2020 CHF 62.100 Zurcher Kantonalbank Fina 6.500 7/3/2020 CHF 38.370 Bank Julius Baer & Co Ltd 13.600 1/3/2020 CHF 53.350 HSBC Trinkaus & Burkhardt 5.400 12/27/2019 EUR 56.190 HSBC Trinkaus & Burkhardt 3.200 12/27/2019 EUR 62.750 HSBC Trinkaus & Burkhardt 5.200 12/27/2019 EUR 58.940 HSBC Trinkaus & Burkhardt 2.500 12/27/2019 EUR 67.250 HSBC Trinkaus & Burkhardt 3.500 12/27/2019 EUR 63.100 Landesbank Hessen-Thuerin 3.500 8/3/2022 EUR 59.770 Leonteq Securities AG/Gue 10.000 1/9/2020 CHF 64.740 Landesbank Hessen-Thuerin 3.500 8/3/2022 EUR 73.990 Raiffeisen Schweiz Genoss 6.200 1/6/2020 CHF 59.500 Raiffeisen Schweiz Genoss 5.200 1/6/2021 CHF 63.850 Raiffeisen Schweiz Genoss 5.000 7/6/2020 CHF 76.480 Landesbank Hessen-Thuerin 5.750 8/3/2023 EUR 70.220 Leonteq Securities AG/Gue 10.000 1/13/2020 CHF 65.450 UniCredit Bank AG 5.200 5/4/2020 USD 38.520 DekaBank Deutsche Girozen 2.800 3/13/2020 EUR 77.220 Raiffeisen Schweiz Genoss 5.000 4/3/2020 CHF 36.730 DekaBank Deutsche Girozen 2.800 4/24/2020 EUR 74.140 Vontobel Financial Produc 5.500 3/20/2020 EUR 64.730 DekaBank Deutsche Girozen 2.750 10/23/2020 EUR 76.960 Leonteq Securities AG/Gue 7.200 9/28/2020 EUR 69.280 DekaBank Deutsche Girozen 4.250 5/3/2022 EUR 63.050 UBS AG/London 9.000 4/14/2020 CHF 67.950 UBS AG/London 7.000 4/14/2020 CHF 75.500 DekaBank Deutsche Girozen 4.250 11/9/2020 EUR 72.320 DekaBank Deutsche Girozen 6.200 11/9/2020 EUR 69.450 EFG International Finance 5.600 4/26/2021 CHF 66.110 UBS AG/London 6.250 6/21/2021 CHF 62.950 UBS AG/London 10.000 12/20/2019 EUR 61.800 Landesbank Hessen-Thuerin 5.650 7/20/2023 EUR 70.760 Raiffeisen Schweiz Genoss 5.700 12/29/2020 EUR 73.340 UBS AG/London 12.000 3/5/2020 CHF 55.250 HSBC Trinkaus & Burkhardt 5.300 12/27/2019 EUR 64.640 HSBC Trinkaus & Burkhardt 2.600 12/27/2019 EUR 73.160 HSBC Trinkaus & Burkhardt 6.200 12/27/2019 EUR 70.030 UBS AG/London 11.000 3/6/2020 USD 73.300 UBS AG/London 11.000 3/5/2020 CHF 60.550 UBS AG/London 10.000 9/7/2020 EUR 73.050 Leonteq Securities AG/Gue 6.000 9/17/2020 CHF 60.660 Leonteq Securities AG/Gue 8.000 3/17/2020 CHF 69.490 Raiffeisen Centrobank AG 10.286 3/24/2020 EUR 66.640 Raiffeisen Centrobank AG 10.929 3/24/2020 EUR 65.520 Raiffeisen Centrobank AG 9.643 3/24/2020 EUR 67.950 UBS AG/London 10.100 1/2/2020 EUR 68.000 UBS AG/London 8.300 1/2/2020 EUR 68.910 UBS AG/London 9.200 1/2/2020 EUR 70.760 Leonteq Securities AG 13.000 12/17/2019 CHF 67.690 Raiffeisen Schweiz Genoss 8.500 3/17/2020 CHF 73.580 Societe Generale Effekten 17.167 1/2/2020 EUR 61.890 Societe Generale Effekten 18.488 1/2/2020 EUR 62.150 Societe Generale Effekten 13.205 1/2/2020 EUR 70.930 Societe Generale Effekten 15.186 1/2/2020 EUR 54.550 Societe Generale Effekten 9.244 1/2/2020 EUR 74.100 Societe Generale Effekten 15.186 1/2/2020 EUR 66.950 Societe Generale Effekten 11.885 1/2/2020 EUR 73.410 Societe Generale Effekten 11.885 1/2/2020 EUR 59.060 Societe Generale Effekten 16.507 1/2/2020 EUR 54.010 Landesbank Baden-Wuerttem 4.650 2/28/2020 EUR 59.380 EFG International Finance 6.200 5/3/2021 CHF 66.700 Raiffeisen Schweiz Genoss 6.600 4/27/2020 EUR 75.140 Raiffeisen Centrobank AG 8.852 12/27/2019 EUR 74.420 Raiffeisen Centrobank AG 7.731 12/27/2019 EUR 74.230 Deutsche Bank AG 3.200 12/24/2019 EUR 56.200 Deutsche Bank AG 3.200 12/24/2019 EUR 63.340 Deutsche Bank AG 3.200 12/24/2019 EUR 62.700 Deutsche Bank AG 3.200 12/24/2019 EUR 61.000 Deutsche Bank AG 3.200 12/24/2019 EUR 68.810 Deutsche Bank AG 3.200 12/24/2019 EUR Deutsche Bank AG 3.200 12/24/2019 EUR 73.400 Deutsche Bank AG 3.200 12/24/2019 EUR 70.350 Deutsche Bank AG 3.200 12/24/2019 EUR 67.530 Deutsche Bank AG 3.200 12/24/2019 EUR 65.290 Vontobel Financial Produc 21.000 6/26/2020 EUR 59.120 UniCredit Bank AG 6.200 6/26/2020 EUR 75.270 UniCredit Bank AG 12.300 6/26/2020 EUR 69.900 Vontobel Financial Produc 17.000 9/25/2020 EUR 68.130 Commerzbank AG 12.750 3/27/2020 EUR 66.770 Aragon OOO 11.750 3/16/2029 RUB 101.200 Leonteq Securities AG/Gue 13.400 1/3/2020 EUR 62.070 DekaBank Deutsche Girozen 2.200 5/8/2020 EUR 54.380 DekaBank Deutsche Girozen 3.300 5/8/2020 EUR 71.560 UniCredit Bank AG 4.900 11/14/2021 EUR 63.020 Landesbank Hessen-Thuerin 5.500 5/25/2023 EUR 67.420 Deutsche Bank AG 3.200 12/24/2019 EUR 66.860 Deutsche Bank AG 3.200 12/24/2019 EUR 60.180 Deutsche Bank AG 3.200 12/24/2019 EUR 57.310 Deutsche Bank AG 3.200 12/24/2019 EUR 66.100 Deutsche Bank AG 3.200 12/24/2019 EUR 58.500 Deutsche Bank AG 3.200 12/24/2019 EUR 61.300 Deutsche Bank AG 3.200 12/24/2019 EUR Deutsche Bank AG 3.200 12/24/2019 EUR 52.200 Deutsche Bank AG 3.200 12/24/2019 EUR 54.300 Deutsche Bank AG 3.200 12/24/2019 EUR Deutsche Bank AG 3.200 12/24/2019 EUR 61.850 Deutsche Bank AG 3.200 12/24/2019 EUR 58.770 Deutsche Bank AG 3.200 12/24/2019 EUR 55.960 Landesbank Baden-Wuerttem 3.750 1/24/2020 EUR 60.990 Landesbank Baden-Wuerttem 5.000 1/24/2020 EUR 62.730 Landesbank Hessen-Thuerin 5.900 8/25/2023 EUR 47.320 UBS AG/London 8.000 4/27/2020 EUR 59.150 Raiffeisen Schweiz Genoss 5.500 5/4/2020 CHF 61.290 Raiffeisen Schweiz Genoss 5.300 5/4/2020 EUR 74.470 Raiffeisen Schweiz Genoss 4.700 11/4/2020 CHF 61.930 UniCredit Bank AG 6.350 5/14/2021 EUR 57.620 Raiffeisen Schweiz Genoss 6.250 4/27/2020 CHF 62.300 Raiffeisen Schweiz Genoss 7.250 4/27/2020 CHF 73.190 Raiffeisen Centrobank AG 9.325 12/27/2019 EUR 60.950 Raiffeisen Centrobank AG 6.197 12/27/2019 EUR 67.040 Leonteq Securities AG/Gue 8.000 10/27/2020 CHF 66.730 HSBC Trinkaus & Burkhardt 3.900 12/27/2019 EUR 41.370 DekaBank Deutsche Girozen 8.100 4/23/2021 EUR 73.910 Landesbank Baden-Wuerttem 3.000 3/26/2021 EUR 59.840 Landesbank Baden-Wuerttem 5.500 3/26/2021 EUR 54.780 Vontobel Financial Produc 14.000 1/3/2020 EUR 54.180 Vontobel Financial Produc 10.000 1/3/2020 EUR 60.700 Vontobel Financial Produc 10.500 3/27/2020 EUR 59.810 Vontobel Financial Produc 8.500 1/3/2020 EUR 64.660 Vontobel Financial Produc 14.500 3/27/2020 EUR 64.710 Vontobel Financial Produc 6.500 1/3/2020 EUR 71.370 Vontobel Financial Produc 16.000 3/27/2020 EUR 73.400 Vontobel Financial Produc 4.500 3/27/2020 EUR 66.460 UniCredit Bank AG 6.000 1/18/2021 EUR 54.760 DekaBank Deutsche Girozen 5.000 7/31/2020 EUR 48.000 Landesbank Baden-Wuerttem 3.800 2/26/2021 EUR 46.120 UBS AG/London 8.500 6/22/2020 EUR 54.950 Leonteq Securities AG/Gue 7.200 1/4/2021 CHF 75.320 Leonteq Securities AG/Gue 8.400 1/3/2020 CHF 68.430 Leonteq Securities AG/Gue 8.000 1/12/2021 EUR 73.530 UniCredit Bank AG 3.450 9/14/2022 EUR 73.880 BNP Paribas Emissions- un 13.000 12/30/2019 EUR 52.370 BNP Paribas Emissions- un 9.000 12/30/2019 EUR 73.760 Landesbank Baden-Wuerttem 2.000 2/28/2020 EUR 62.910 Landesbank Baden-Wuerttem 3.000 2/28/2020 EUR 56.890 Landesbank Baden-Wuerttem 4.000 2/28/2020 EUR 54.480 BNP Paribas Emissions- un 6.000 12/30/2019 EUR 56.430 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 60.100 Landesbank Baden-Wuerttem 5.000 1/24/2020 EUR 48.580 Landesbank Baden-Wuerttem 2.000 1/24/2020 EUR 73.010 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 56.480 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 55.910 Landesbank Baden-Wuerttem 5.000 1/24/2020 EUR 70.690 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 58.800 Landesbank Baden-Wuerttem 5.000 1/24/2020 EUR 52.590 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 51.990 Landesbank Baden-Wuerttem 4.500 1/24/2020 EUR 71.260 UBS AG/London 9.000 1/6/2020 USD 50.050 UBS AG/London 5.750 1/6/2020 CHF 74.300 UBS AG/London 7.750 1/6/2020 EUR 70.650 Landesbank Baden-Wuerttem 3.500 6/26/2020 EUR 75.820 UBS AG/London 11.000 9/21/2020 CHF 71.550 Vontobel Financial Produc 5.500 4/15/2020 EUR 75.080 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 72.010 Landesbank Baden-Wuerttem 3.000 9/25/2020 EUR 74.900 Landesbank Baden-Wuerttem 5.000 9/25/2020 EUR 70.510 Landesbank Baden-Wuerttem 7.000 9/25/2020 EUR 67.320 Landesbank Baden-Wuerttem 7.000 9/25/2020 EUR 72.030 Raiffeisen Schweiz Genoss 9.400 12/27/2019 CHF 50.430 UniCredit Bank AG 4.100 2/13/2023 EUR 70.360 Leonteq Securities AG/Gue 10.000 1/3/2020 USD 60.140 UBS AG/London 8.000 6/15/2020 EUR 61.250 UBS AG/London 8.500 6/15/2020 CHF 69.400 Leonteq Securities AG/Gue 7.000 12/27/2019 CHF 69.480 Leonteq Securities AG/Gue 8.000 12/27/2019 EUR 42.650 EFG International Finance 7.200 12/29/2020 EUR 61.390 Landesbank Baden-Wuerttem 3.500 7/24/2020 EUR 65.280 Corner Banca SA 7.600 6/16/2020 CHF 61.670 DekaBank Deutsche Girozen 3.000 6/21/2021 EUR 38.290 Leonteq Securities AG/Gue 8.000 1/3/2020 CHF 75.740 Vontobel Financial Produc 4.600 4/15/2020 EUR 57.920 EFG International Finance 9.800 9/21/2021 EUR 59.830 UniCredit Bank AG 5.500 10/26/2021 EUR 73.110 Leonteq Securities AG/Gue 9.000 1/12/2021 USD 49.220 Landesbank Hessen-Thuerin 4.000 7/7/2021 EUR 71.060 UBS AG/London 6.250 1/6/2020 CHF 50.000 UBS AG/London 12.000 1/6/2020 CHF 52.400 Landesbank Hessen-Thuerin 4.000 1/26/2022 EUR 61.880 BNP Paribas Emissions- un 4.000 12/30/2019 EUR 59.980 BNP Paribas Emissions- un 7.000 12/30/2019 EUR 60.070 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 52.190 Landesbank Baden-Wuerttem 6.000 1/24/2020 EUR 45.470 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 73.390 Landesbank Baden-Wuerttem 6.000 1/24/2020 EUR 60.630 Landesbank Baden-Wuerttem 3.500 1/24/2020 EUR 51.740 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 74.920 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 67.980 Landesbank Baden-Wuerttem 2.500 1/24/2020 EUR 22.040 Landesbank Baden-Wuerttem 2.000 1/24/2020 EUR 59.870 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 48.400 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 52.970 Landesbank Baden-Wuerttem 5.000 1/24/2020 EUR 46.310 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 61.340 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 57.080 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 56.410 Landesbank Baden-Wuerttem 6.000 1/24/2020 EUR 62.950 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 69.700 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 74.900 UBS AG/London 5.750 7/6/2020 EUR 61.700 Credit Suisse AG/Nassau 7.000 12/27/2019 CHF 71.570 Corner Banca SA 8.600 6/16/2020 CHF 69.290 DekaBank Deutsche Girozen 3.500 1/24/2020 EUR 44.070 Landesbank Hessen-Thuerin 4.000 1/13/2021 EUR 45.000 UBS AG/London 7.500 9/21/2020 USD 57.770 UBS AG/London 10.000 9/21/2020 EUR 67.800 UBS AG/London 11.000 9/21/2020 CHF 71.500 Citigroup Global Markets 7.000 6/16/2022 SEK 66.240 Bayerische Landesbank 3.100 10/23/2020 EUR 73.220 UBS AG/London 11.000 1/10/2020 EUR 48.450 Vontobel Financial Produc 4.000 1/3/2020 EUR 71.840 Vontobel Financial Produc 11.000 1/3/2020 EUR 58.570 Vontobel Financial Produc 7.000 1/3/2020 EUR 62.010 Vontobel Financial Produc 10.000 1/3/2020 EUR 56.260 Vontobel Financial Produc 6.000 1/3/2020 EUR 73.740 Vontobel Financial Produc 6.000 1/3/2020 EUR 74.860 Landesbank Baden-Wuerttem 4.350 7/24/2020 EUR 45.410 Vontobel Financial Produc 6.500 1/3/2020 EUR 73.600 Vontobel Financial Produc 8.000 1/3/2020 EUR 69.080 Vontobel Financial Produc 12.000 1/3/2020 EUR 61.610 Vontobel Financial Produc 14.000 1/3/2020 EUR 58.480 Vontobel Financial Produc 9.500 1/3/2020 EUR 71.450 Vontobel Financial Produc 11.500 1/3/2020 EUR 67.980 Societe Generale Effekten 27.705 6/19/2020 EUR 70.460 UniCredit Bank AG 4.450 10/30/2020 EUR 72.920 Societe Generale Effekten 19.641 9/18/2020 EUR 70.070 Societe Generale Effekten 21.263 12/20/2019 EUR 68.860 Leonteq Securities AG/Gue 11.000 1/15/2020 CHF 29.840 Leonteq Securities AG/Gue 11.000 1/9/2020 CHF 66.870 Vontobel Financial Produc 16.000 1/3/2020 EUR 62.040 BNP Paribas Emissions- un 6.500 12/30/2019 EUR 73.570 BNP Paribas Emissions- un 15.000 12/30/2019 EUR 58.420 BNP Paribas Emissions- un 13.000 12/30/2019 EUR 60.260 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 68.960 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 61.410 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 61.470 BNP Paribas Emissions- un 14.000 12/30/2019 EUR 53.700 Vontobel Financial Produc 20.500 6/26/2020 EUR 70.980 Vontobel Financial Produc 11.500 1/3/2020 EUR 69.390 Vontobel Financial Produc 15.000 1/3/2020 EUR 65.490 Vontobel Financial Produc 10.500 1/3/2020 EUR 70.810 Vontobel Financial Produc 11.500 1/3/2020 EUR 65.650 Vontobel Financial Produc 13.000 1/3/2020 EUR 63.800 Vontobel Financial Produc 14.500 1/3/2020 EUR 62.060 Vontobel Financial Produc 8.000 1/3/2020 EUR 72.020 Leonteq Securities AG/Gue 14.200 1/15/2020 USD 30.540 Vontobel Financial Produc 14.000 1/3/2020 EUR 64.880 BNP Paribas Emissions- un 16.000 12/30/2019 EUR 55.700 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 67.920 BNP Paribas Emissions- un 7.000 12/30/2019 EUR 68.930 BNP Paribas Emissions- un 8.500 12/30/2019 EUR 64.950 Vontobel Financial Produc 17.000 6/26/2020 EUR 73.330 UBS AG/London 11.000 4/17/2020 CHF 40.400 DekaBank Deutsche Girozen 2.550 11/13/2020 EUR 71.510 Vontobel Financial Produc 8.000 1/3/2020 EUR 75.500 Vontobel Financial Produc 9.000 1/3/2020 EUR 69.750 Vontobel Financial Produc 16.000 1/3/2020 EUR 60.410 BNP Paribas Emissions- un 19.000 3/26/2020 EUR 69.510 Vontobel Financial Produc 17.500 9/25/2020 EUR 73.210 Vontobel Financial Produc 18.500 6/26/2020 EUR 71.970 Vontobel Financial Produc 12.500 1/3/2020 EUR 68.030 Vontobel Financial Produc 13.500 1/3/2020 EUR 65.620 Vontobel Financial Produc 14.500 1/3/2020 EUR 64.040 Vontobel Financial Produc 12.000 1/3/2020 EUR 67.270 Vontobel Financial Produc 10.500 1/3/2020 EUR 67.640 Vontobel Financial Produc 17.000 1/3/2020 EUR 58.840 Vontobel Financial Produc 13.500 1/3/2020 EUR 66.720 Vontobel Financial Produc 6.500 1/3/2020 EUR 74.420 Vontobel Financial Produc 4.000 1/3/2020 EUR 73.470 BNP Paribas Emissions- un 28.000 12/30/2019 EUR 66.290 UBS AG/London 12.600 6/25/2020 EUR 69.770 Landesbank Hessen-Thuerin 2.850 11/30/2020 EUR 70.800 Deutsche Bank AG 4.200 12/24/2019 EUR 62.700 Deutsche Bank AG 4.200 12/24/2019 EUR 61.000 Deutsche Bank AG 4.200 12/24/2019 EUR 58.600 Deutsche Bank AG 4.200 12/24/2019 EUR 56.300 Deutsche Bank AG 4.200 12/24/2019 EUR 54.900 Deutsche Bank AG 6.200 12/24/2019 EUR 55.000 Deutsche Bank AG 4.200 12/24/2019 EUR 53.600 Deutsche Bank AG 6.200 12/24/2019 EUR 53.600 Deutsche Bank AG 8.200 12/24/2019 EUR 58.700 Deutsche Bank AG 8.200 12/24/2019 EUR 56.400 Deutsche Bank AG 8.200 12/24/2019 EUR 55.000 Deutsche Bank AG 8.200 12/24/2019 EUR 52.500 Leonteq Securities AG/Gue 5.000 10/20/2020 CHF 65.300 Vontobel Financial Produc 7.500 5/14/2020 EUR 61.520 UniCredit Bank AG 6.850 5/14/2021 EUR 69.710 Landesbank Baden-Wuerttem 4.550 2/28/2020 EUR 67.770 Landesbank Baden-Wuerttem 6.500 2/28/2020 EUR 47.560 UBS AG/London 7.000 4/20/2020 CHF 66.000 Vontobel Financial Produc 8.300 12/18/2019 EUR 52.730 UniCredit Bank AG 4.500 1/18/2022 EUR 73.580 UBS AG/London 11.000 9/28/2020 EUR 73.950 UBS AG/London 12.000 3/26/2020 EUR 48.600 UBS AG/London 10.000 9/28/2020 EUR 60.550 Deutsche Bank AG 6.200 12/24/2019 EUR 35.900 UBS AG/London 8.400 3/26/2020 EUR 65.450 UBS AG/London 21.600 1/2/2020 EUR 58.840 HSBC Trinkaus & Burkhardt 8.500 12/27/2019 EUR 71.490 HSBC Trinkaus & Burkhardt 8.800 12/27/2019 EUR 62.130 HSBC Trinkaus & Burkhardt 4.700 12/27/2019 EUR 71.370 HSBC Trinkaus & Burkhardt 7.200 12/27/2019 EUR 69.050 HSBC Trinkaus & Burkhardt 9.700 12/27/2019 EUR 32.590 HSBC Trinkaus & Burkhardt 6.200 12/27/2019 EUR 67.460 HSBC Trinkaus & Burkhardt 3.700 12/27/2019 EUR 74.350 UBS AG/London 5.500 3/26/2020 EUR 71.300 Bank Julius Baer & Co Ltd 10.800 6/12/2020 CHF 73.050 Raiffeisen Switzerland BV 9.500 3/11/2020 EUR 56.870 DZ Bank AG Deutsche Zentr 6.500 3/25/2020 EUR Societe Generale Effekten 13.204 3/20/2020 EUR 52.810 Societe Generale Effekten 25.249 12/20/2019 EUR 50.940 Societe Generale Effekten 11.910 3/20/2020 EUR 68.320 Societe Generale Effekten 20.195 3/20/2020 EUR 60.720 Societe Generale Effekten 14.134 6/19/2020 EUR 69.540 Societe Generale Effekten 22.486 6/19/2020 EUR 63.390 Commerzbank AG 17.000 5/22/2020 EUR 71.540 Societe Generale Effekten 7.767 3/20/2020 EUR 70.020 Societe Generale Effekten 9.838 3/20/2020 EUR 66.550 Societe Generale Effekten 8.673 6/19/2020 EUR 72.130 Societe Generale Effekten 7.890 12/20/2019 EUR 74.760 Societe Generale Effekten 9.468 12/20/2019 EUR 69.900 Societe Generale Effekten 11.564 6/19/2020 EUR 74.290 Societe Generale Effekten 19.159 3/20/2020 EUR 74.390 Societe Generale Effekten 6.312 12/20/2019 EUR 58.870 Societe Generale Effekten 9.074 12/20/2019 EUR 53.170 Societe Generale Effekten 12.230 12/20/2019 EUR 48.520 Societe Generale Effekten 4.660 3/20/2020 EUR 68.790 Societe Generale Effekten 7.249 3/20/2020 EUR 62.100 Societe Generale Effekten 10.097 3/20/2020 EUR 56.890 Societe Generale Effekten 12.849 6/19/2020 EUR 59.190 Leonteq Securities AG/Gue 7.500 3/11/2021 CHF 68.750 DZ Bank AG Deutsche Zentr 5.000 7/22/2020 EUR 68.460 Deutsche Bank AG 8.200 9/22/2020 EUR 64.700 DZ Bank AG Deutsche Zentr 9.000 6/24/2020 EUR Vontobel Financial Produc 18.000 1/3/2020 EUR 74.110 Zurcher Kantonalbank Fina 7.500 3/13/2020 EUR 72.620 Societe Generale Effekten 22.525 3/20/2020 EUR 56.190 Societe Generale Effekten 23.301 3/20/2020 EUR 55.630 Societe Generale Effekten 18.632 6/19/2020 EUR 71.910 Deutsche Bank AG 8.200 12/24/2019 EUR 74.600 Raiffeisen Centrobank AG 10.995 6/23/2020 EUR 68.300 HSBC Trinkaus & Burkhardt 9.500 3/27/2020 EUR 67.690 UBS AG/London 8.300 3/26/2020 EUR 66.680 UBS AG/London 5.100 3/26/2020 EUR 72.670 HSBC Trinkaus & Burkhardt 5.100 3/27/2020 EUR 69.640 HSBC Trinkaus & Burkhardt 9.000 12/27/2019 EUR 73.360 UBS AG/London 17.600 1/2/2020 EUR 61.810 Vontobel Financial Produc 9.250 4/3/2020 EUR 74.340 Corner Banca SA 12.000 1/3/2020 CHF 70.580 Bank Julius Baer & Co Ltd 7.000 3/23/2020 CHF 74.150 Landesbank Baden-Wuerttem 3.200 7/24/2020 EUR 61.820 Leonteq Securities AG/Gue 6.000 6/23/2020 CHF 61.250 UniCredit Bank AG 3.600 7/18/2021 EUR 53.340 Luzerner Kantonalbank AG 10.000 4/8/2020 CHF 58.150 DZ Bank AG Deutsche Zentr 8.750 12/27/2019 EUR 62.130 Leonteq Securities AG/Gue 8.000 12/27/2019 CHF 71.680 Deutsche Bank AG 4.200 12/24/2019 EUR 73.500 Deutsche Bank AG 4.200 12/24/2019 EUR 73.800 Deutsche Bank AG 4.200 12/24/2019 EUR 72.200 Deutsche Bank AG 4.200 12/24/2019 EUR 65.320 Deutsche Bank AG 4.200 12/24/2019 EUR 73.200 Deutsche Bank AG 4.200 12/24/2019 EUR 70.800 Vontobel Financial Produc 8.000 12/31/2019 EUR 68.420 HSBC Trinkaus & Burkhardt 4.170 3/27/2020 EUR 71.780 Deutsche Bank AG 6.200 12/24/2019 EUR 68.700 Deutsche Bank AG 6.200 12/24/2019 EUR 58.300 Deutsche Bank AG 6.200 12/24/2019 EUR 72.300 HSBC Trinkaus & Burkhardt 13.200 12/27/2019 EUR 58.590 HSBC Trinkaus & Burkhardt 7.800 3/27/2020 EUR 73.540 UBS AG/London 13.000 3/26/2020 EUR 63.360 HSBC Trinkaus & Burkhardt 9.000 12/27/2019 EUR 60.970 HSBC Trinkaus & Burkhardt 4.600 12/27/2019 EUR 70.860 HSBC Trinkaus & Burkhardt 10.500 12/27/2019 EUR 64.460 HSBC Trinkaus & Burkhardt 9.000 12/27/2019 EUR 67.470 HSBC Trinkaus & Burkhardt 6.300 12/27/2019 EUR 74.470 HSBC Trinkaus & Burkhardt 5.400 3/27/2020 EUR 70.190 HSBC Trinkaus & Burkhardt 3.600 3/27/2020 EUR 75.890 HSBC Trinkaus & Burkhardt 8.900 12/27/2019 EUR 65.060 HSBC Trinkaus & Burkhardt 5.600 12/27/2019 EUR 73.600 HSBC Trinkaus & Burkhardt 11.600 12/27/2019 EUR 31.000 HSBC Trinkaus & Burkhardt 6.200 12/27/2019 EUR 36.960 Leonteq Securities AG/Gue 12.000 1/3/2020 CHF 69.170 Deutsche Bank AG 4.200 12/24/2019 EUR 68.950 Deutsche Bank AG 4.200 12/24/2019 EUR 61.890 Deutsche Bank AG 4.200 12/24/2019 EUR 67.600 Vontobel Financial Produc 7.000 12/31/2019 EUR 68.390 Deutsche Bank AG 6.200 12/24/2019 EUR 72.300 Deutsche Bank AG 6.200 12/24/2019 EUR 73.560 Luzerner Kantonalbank AG 6.000 4/8/2020 CHF 74.380 Leonteq Securities AG 13.000 1/3/2020 CHF 69.680 Erste Group Bank AG 6.000 4/29/2020 EUR 74.900 Deutsche Bank AG 4.200 12/24/2019 EUR 72.500 Deutsche Bank AG 4.200 12/24/2019 EUR 66.700 Natixis SA 1.500 10/4/2021 EUR 68.296 Deutsche Bank AG 6.200 12/24/2019 EUR 58.900 UBS AG/London 15.200 3/26/2020 EUR 77.470 HSBC Trinkaus & Burkhardt 9.400 12/27/2019 EUR 75.970 Societe Generale Effekten 16.052 3/20/2020 EUR 71.060 Societe Generale Effekten 4.142 12/20/2019 EUR 66.030 Societe Generale Effekten 14.192 9/18/2020 EUR 60.780 Societe Generale Effekten 14.499 3/20/2020 EUR 65.390 Vontobel Financial Produc 11.000 3/27/2020 EUR 75.350 Deutsche Bank AG 8.200 12/22/2020 EUR 61.200 Societe Generale Effekten 8.285 3/20/2020 EUR 68.790 Societe Generale Effekten 11.651 3/20/2020 EUR 64.680 Societe Generale Effekten 14.240 3/20/2020 EUR 62.020 Societe Generale Effekten 24.337 3/20/2020 EUR 55.160 Societe Generale Effekten 12.528 6/19/2020 EUR 67.350 Societe Generale Effekten 9.637 6/19/2020 EUR 63.650 Societe Generale Effekten 10.740 9/18/2020 EUR 64.660 Societe Generale Effekten 19.134 12/20/2019 EUR 55.720 Societe Generale Effekten 25.890 3/20/2020 EUR 57.160 Societe Generale Effekten 15.793 3/20/2020 EUR 74.510 Commerzbank AG 22.000 12/31/2019 EUR 65.790 UBS AG/London 12.900 6/25/2020 EUR 70.530 UBS AG/London 10.700 3/26/2020 EUR 60.530 UBS AG/London 6.900 3/26/2020 EUR 67.520 UBS AG/London 6.100 1/2/2020 EUR 73.400 UBS AG/London 6.700 12/28/2020 EUR 75.040 UBS AG/London 7.400 12/28/2020 EUR 73.770 Danske Bank A/S 10.300 7/9/2023 SEK 53.900 Deutsche Bank AG 4.200 12/24/2019 EUR 65.500 Deutsche Bank AG 4.200 12/24/2019 EUR 55.200 Deutsche Bank AG 4.200 12/24/2019 EUR 70.100 UBS AG/London 14.000 3/26/2020 EUR 70.220 UBS AG/London 9.600 3/26/2020 EUR 70.590 UBS AG/London 5.700 3/26/2020 EUR 69.880 UBS AG/London 6.600 3/26/2020 EUR 74.210 UBS AG/London 15.100 1/2/2020 EUR 61.730 Raiffeisen Centrobank AG 9.367 6/23/2020 EUR 70.370 Deutsche Bank AG 6.200 12/24/2019 EUR 64.600 UBS AG/London 7.500 3/26/2020 EUR 65.170 UBS AG/London 6.200 3/26/2020 EUR 68.650 Deutsche Bank AG 4.200 12/24/2019 EUR 50.600 Deutsche Bank AG 4.200 12/24/2019 EUR 61.900 DZ Bank AG Deutsche Zentr 5.500 12/27/2019 EUR 64.490 Deutsche Bank AG 4.200 12/24/2019 EUR 61.000 UBS AG/London 8.600 1/2/2020 EUR 68.980 UBS AG/London 19.000 1/2/2020 EUR 58.750 UBS AG/London 15.600 3/26/2020 EUR 74.030 UBS AG/London 22.400 1/2/2020 EUR 56.050 UBS AG/London 21.600 3/26/2020 EUR 74.940 UBS AG/London 8.900 3/26/2020 EUR 64.380 UBS AG/London 10.500 3/26/2020 EUR 63.690 UBS AG/London 7.700 3/26/2020 EUR 72.210 UBS AG/London 11.600 1/2/2020 EUR 65.120 Vontobel Financial Produc 12.000 6/26/2020 EUR 62.700 Vontobel Financial Produc 13.000 3/27/2020 EUR 61.110 Landesbank Hessen-Thuerin 4.000 12/18/2019 EUR 67.070 Vontobel Financial Produc 3.500 6/25/2020 EUR 65.120 Vontobel Financial Produc 8.000 1/3/2020 EUR 64.320 Vontobel Financial Produc 8.000 3/27/2020 EUR 66.030 Leonteq Securities AG/Gue 7.000 7/14/2020 CHF 71.720 Vontobel Financial Produc 8.000 3/27/2020 EUR 64.450 Raiffeisen Schweiz Genoss 5.000 1/14/2020 EUR 72.990 Landesbank Baden-Wuerttem 3.050 7/24/2020 EUR 69.750 Commerzbank AG 9.500 3/27/2020 EUR 67.150 UniCredit Bank AG 3.750 10/2/2020 EUR 26.760 Bank Julius Baer & Co Ltd 10.800 1/21/2020 USD 70.150 Societe Generale Effekten 23.164 9/18/2020 EUR 74.700 Societe Generale Effekten 25.507 9/18/2020 EUR 74.460 Vontobel Financial Produc 15.000 3/27/2020 EUR 69.800 Vontobel Financial Produc 13.000 6/26/2020 EUR 69.410 DZ Bank AG Deutsche Zentr 9.500 10/21/2020 EUR 76.990 DZ Bank AG Deutsche Zentr 5.500 12/23/2020 EUR 73.660 DZ Bank AG Deutsche Zentr 7.500 12/23/2020 EUR 70.980 UBS AG/London 10.500 10/2/2020 USD 66.370 Vontobel Financial Produc 20.500 9/25/2020 EUR 72.625 UBS AG/London 13.700 9/24/2020 EUR 74.290 DZ Bank AG Deutsche Zentr 11.750 3/25/2020 EUR 72.600 DZ Bank AG Deutsche Zentr 7.750 9/23/2020 EUR 74.240 DekaBank Deutsche Girozen 0.010 6/29/2046 EUR 70.150 Bank Julius Baer & Co Ltd 9.650 4/27/2020 USD 74.100 Bank Julius Baer & Co Ltd 8.500 4/27/2020 EUR 75.400 Credit Suisse AG/London 8.000 10/26/2020 EUR 72.690 mybet Holding SE 6.250 12/11/2020 EUR 30.000 Landesbank Hessen-Thuerin 7.000 4/29/2022 EUR 53.390 Credit Suisse AG/London 8.000 10/26/2020 CHF 73.090 Commerzbank AG 10.250 3/27/2020 EUR 72.160 Vontobel Financial Produc 19.500 6/25/2020 EUR 73.540 DZ Bank AG Deutsche Zentr 9.750 9/23/2020 EUR DZ Bank AG Deutsche Zentr 5.750 6/24/2020 EUR 73.840 DZ Bank AG Deutsche Zentr 7.750 6/24/2020 EUR 71.500 DZ Bank AG Deutsche Zentr 12.500 3/25/2020 EUR 74.800 Aragon OOO 11.500 7/10/2029 RUB 70.000 DZ Bank AG Deutsche Zentr 14.250 3/25/2020 EUR 71.160 DZ Bank AG Deutsche Zentr 10.500 6/24/2020 EUR 72.480 DZ Bank AG Deutsche Zentr 9.000 9/23/2020 EUR 73.250 DZ Bank AG Deutsche Zentr 8.250 12/23/2020 EUR 73.840 EFG International Finance 5.150 6/10/2020 EUR 68.860 UBS AG/London 13.500 9/11/2020 USD 58.020 Leonteq Securities AG 16.000 12/16/2020 CHF 61.910 Vontobel Financial Produc 13.400 9/16/2020 USD 56.090 DZ Bank AG Deutsche Zentr 7.800 9/21/2020 EUR 71.490 DZ Bank AG Deutsche Zentr 4.500 3/25/2020 EUR DZ Bank AG Deutsche Zentr 10.600 9/25/2020 EUR 71.460 DZ Bank AG Deutsche Zentr 5.250 6/24/2020 EUR 68.880 UBS AG/London 13.500 10/19/2020 USD 67.010 Commerzbank AG 8.750 3/27/2020 EUR 69.030 Bank Julius Baer & Co Ltd 8.150 5/26/2020 EUR 64.800 DZ Bank AG Deutsche Zentr 5.250 6/22/2020 EUR DZ Bank AG Deutsche Zentr 5.000 9/21/2020 EUR 69.040 DZ Bank AG Deutsche Zentr 6.250 9/21/2020 EUR 69.990 Commerzbank AG 12.750 3/27/2020 EUR 63.530 Vontobel Financial Produc 17.500 6/26/2020 EUR 73.960 Leonteq Securities AG 15.400 4/8/2020 CHF 67.400 Commerzbank AG 6.000 12/31/2019 EUR 74.310 Commerzbank AG 20.250 12/31/2019 EUR 71.130 Commerzbank AG 19.000 1/24/2020 EUR 72.310 BNP Paribas Emissions- un 21.000 3/26/2020 EUR 70.050 Landesbank Hessen-Thuerin 8.000 4/7/2020 EUR 78.940 BNP Paribas Emissions- un 15.000 9/24/2020 EUR 74.180 BNP Paribas Emissions- un 20.000 3/26/2020 EUR 69.350 BNP Paribas Emissions- un 22.000 3/26/2020 EUR 69.880 BNP Paribas Emissions- un 24.000 3/26/2020 EUR 70.420 BNP Paribas Emissions- un 14.000 9/24/2020 EUR 74.040 BNP Paribas Emissions- un 14.000 3/26/2020 EUR 72.100 Raiffeisen Schweiz Genoss 3.400 3/21/2025 CHF 60.820 Landesbank Hessen-Thuerin 8.000 5/15/2020 EUR 60.190 Landesbank Hessen-Thuerin 8.400 5/8/2020 EUR 37.280 Landesbank Hessen-Thuerin 7.400 6/12/2020 EUR 69.330 DekaBank Deutsche Girozen 3.000 5/20/2020 EUR 72.740 Landesbank Baden-Wuerttem 6.000 3/27/2020 EUR 70.020 Vontobel Financial Produc 15.000 1/3/2020 EUR 72.330 Vontobel Financial Produc 8.000 1/3/2020 EUR 69.330 Commerzbank AG 14.500 12/31/2019 EUR 71.620 Societe Generale Effekten 15.867 6/19/2020 EUR 74.730 Societe Generale Effekten 16.690 12/20/2019 EUR 63.040 Vontobel Financial Produc 9.500 1/3/2020 EUR 71.040 Vontobel Financial Produc 6.000 1/3/2020 EUR 60.530 EFG International Finance 7.400 12/21/2020 USD 74.840 Leonteq Securities AG/Gue 5.000 5/5/2020 EUR 33.520 HSBC Trinkaus & Burkhardt 6.900 12/27/2019 EUR 68.540 Vontobel Financial Produc 15.000 12/31/2019 EUR 34.400 Societe Generale Effekten 21.499 12/20/2019 EUR 74.730 DekaBank Deutsche Girozen 4.050 7/3/2020 EUR 70.400 Vontobel Financial Produc 14.500 1/3/2020 EUR 62.120 Vontobel Financial Produc 11.500 1/3/2020 EUR 67.940 Vontobel Financial Produc 10.500 1/3/2020 EUR 70.140 Vontobel Financial Produc 8.500 1/3/2020 EUR 74.670 Vontobel Financial Produc 7.500 1/3/2020 EUR 57.040 UBS AG/London 5.700 1/2/2020 EUR 59.030 Vontobel Financial Produc 7.000 12/31/2019 EUR 62.360 DekaBank Deutsche Girozen 2.900 1/4/2021 EUR 76.540 DekaBank Deutsche Girozen 2.100 1/4/2021 EUR 67.880 Zurcher Kantonalbank Fina 5.000 12/14/2020 EUR 74.230 DZ Bank AG Deutsche Zentr 6.250 3/25/2020 EUR DZ Bank AG Deutsche Zentr 8.250 3/25/2020 EUR 56.070 DZ Bank AG Deutsche Zentr 8.750 3/25/2020 EUR 68.820 Vontobel Financial Produc 5.400 1/6/2020 EUR 42.870 HSBC Trinkaus & Burkhardt 7.600 6/26/2020 EUR 70.260 HSBC Trinkaus & Burkhardt 6.500 6/26/2020 EUR 69.680 Vontobel Financial Produc 13.000 3/13/2020 EUR 61.640 DekaBank Deutsche Girozen 2.300 1/8/2021 EUR 74.420 Vontobel Financial Produc 7.000 12/27/2019 EUR 42.490 HSBC Trinkaus & Burkhardt 2.750 3/27/2020 EUR 73.950 Landesbank Baden-Wuerttem 2.500 10/23/2020 EUR 51.500 Landesbank Baden-Wuerttem 5.000 10/23/2020 EUR 45.050 Landesbank Hessen-Thuerin 3.500 1/5/2022 EUR 61.980 Landesbank Hessen-Thuerin 4.000 1/5/2022 EUR 70.690 UBS AG/London 9.000 10/19/2020 USD 63.200 UBS AG/London 6.000 4/16/2020 CHF 71.100 Landesbank Baden-Wuerttem 3.000 3/27/2020 EUR 68.340 Vontobel Financial Produc 12.000 1/3/2020 EUR 65.850 Vontobel Financial Produc 10.000 1/3/2020 EUR 65.580 Vontobel Financial Produc 15.500 1/3/2020 EUR 61.770 Goldman Sachs & Co Wertpa 23.000 12/27/2019 EUR 66.680 Societe Generale SA 8.000 12/3/2020 USD 58.800 Vontobel Financial Produc 8.500 1/3/2020 EUR 53.930 Vontobel Financial Produc 10.500 1/3/2020 EUR 71.040 HSBC Trinkaus & Burkhardt 1.000 4/22/2020 EUR 74.900 Leonteq Securities AG/Gue 6.400 6/4/2020 CHF 18.410 Leonteq Securities AG/Gue 9.000 6/4/2020 USD 68.760 Vontobel Financial Produc 10.000 12/31/2019 EUR 68.750 DekaBank Deutsche Girozen 3.800 12/18/2020 EUR 57.740 Vontobel Financial Produc 19.500 9/25/2020 EUR 69.160 Vontobel Financial Produc 13.000 1/3/2020 EUR 63.910 Vontobel Financial Produc 12.000 1/3/2020 EUR 62.240 Vontobel Financial Produc 11.000 1/3/2020 EUR 63.860 Raiffeisen Centrobank AG 5.200 12/30/2019 EUR 72.900 Goldman Sachs & Co Wertpa 24.000 12/27/2019 EUR 73.710 Leonteq Securities AG/Gue 9.800 6/12/2020 CHF 46.080 Vontobel Financial Produc 11.000 1/3/2020 EUR 68.900 Vontobel Financial Produc 8.500 1/3/2020 EUR 73.350 Vontobel Financial Produc 10.000 1/3/2020 EUR 51.180 Leonteq Securities AG/Gue 7.000 12/15/2020 CHF 73.610 Leonteq Securities AG/Gue 7.400 12/18/2019 EUR 71.380 Plaza Centers NV 6.900 7/1/2020 ILS 21.370 Plaza Centers NV 6.000 7/1/2020 ILS 21.510 Landesbank Baden-Wuerttem 3.000 11/27/2020 EUR 73.010 Landesbank Baden-Wuerttem 6.000 11/27/2020 EUR 67.410 Landesbank Baden-Wuerttem 4.500 11/27/2020 EUR 70.530 Societe Generale Effekten 19.126 3/20/2020 EUR 54.450 HSBC Trinkaus & Burkhardt 10.500 12/27/2019 EUR 72.680 HSBC Trinkaus & Burkhardt 6.600 1/24/2020 EUR 73.710 HSBC Trinkaus & Burkhardt 11.100 12/27/2019 EUR 65.800 HSBC Trinkaus & Burkhardt 8.900 3/27/2020 EUR 71.650 HSBC Trinkaus & Burkhardt 4.300 12/27/2019 EUR 46.760 HSBC Trinkaus & Burkhardt 8.100 1/24/2020 EUR 40.340 HSBC Trinkaus & Burkhardt 7.600 12/27/2019 EUR 63.760 HSBC Trinkaus & Burkhardt 7.100 1/24/2020 EUR 74.170 Landesbank Baden-Wuerttem 3.300 12/29/2020 EUR 76.070 Landesbank Baden-Wuerttem 3.000 7/23/2021 EUR 73.720 UniCredit Bank AG 3.800 12/29/2022 EUR 60.150 DekaBank Deutsche Girozen 5.150 7/3/2020 EUR 72.120 UBS AG/London 10.000 4/24/2020 USD 61.080 Vontobel Financial Produc 12.500 1/3/2020 EUR 73.020 Vontobel Financial Produc 19.500 6/12/2020 EUR 75.940 Vontobel Financial Produc 9.500 1/3/2020 EUR 65.740 UniCredit Bank AG 4.450 12/29/2022 EUR 68.330 UniCredit Bank AG 5.900 12/19/2020 EUR 56.200 Vontobel Financial Produc 12.500 1/3/2020 EUR 60.270 Vontobel Financial Produc 14.500 1/3/2020 EUR 57.120 Societe Generale SA 8.000 12/2/2020 USD 54.340 UBS AG/London 9.000 4/24/2020 EUR 59.050 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 58.900 DekaBank Deutsche Girozen 5.150 5/21/2021 EUR 71.170 Vontobel Financial Produc 9.500 12/31/2019 EUR 52.070 Vontobel Financial Produc 7.550 12/31/2019 EUR 52.000 Landesbank Hessen-Thuerin 6.250 12/22/2022 EUR 58.920 Vontobel Financial Produc 7.000 1/3/2020 EUR 72.390 Vontobel Financial Produc 9.000 1/3/2020 EUR 67.830 UniCredit Bank AG 4.300 12/19/2021 EUR 63.700 Vontobel Financial Produc 13.500 1/3/2020 EUR 42.480 Raiffeisen Schweiz Genoss 7.000 4/30/2020 EUR 63.700 Leonteq Securities AG/Gue 7.000 10/29/2020 CHF 66.730 UniCredit Bank AG 5.500 1/4/2020 EUR 43.450 HSBC Trinkaus & Burkhardt 11.400 12/27/2019 EUR 70.890 HSBC Trinkaus & Burkhardt 8.600 12/27/2019 EUR 72.500 HSBC Trinkaus & Burkhardt 11.800 12/27/2019 EUR 36.100 HSBC Trinkaus & Burkhardt 5.800 3/27/2020 EUR 68.420 HSBC Trinkaus & Burkhardt 10.000 12/27/2019 EUR 78.720 Vontobel Financial Produc 6.200 12/31/2019 EUR 64.220 Vontobel Financial Produc 11.500 1/3/2020 EUR 71.130 Vontobel Financial Produc 12.500 1/3/2020 EUR 68.960 Vontobel Financial Produc 16.000 1/3/2020 EUR 70.390 Goldman Sachs & Co Wertpa 25.000 1/22/2020 EUR 72.920 Goldman Sachs & Co Wertpa 24.000 2/26/2020 EUR 76.400 Vontobel Financial Produc 7.000 6/19/2020 USD 72.250 Vontobel Financial Produc 14.000 1/3/2020 EUR 69.190 Vontobel Financial Produc 8.000 1/3/2020 EUR 70.030 Vontobel Financial Produc 11.500 1/3/2020 EUR 61.980 Vontobel Financial Produc 10.500 1/3/2020 EUR 63.800 Vontobel Financial Produc 12.000 1/3/2020 EUR 72.710 HSBC Trinkaus & Burkhardt 3.000 8/10/2020 EUR 71.920 HSBC Trinkaus & Burkhardt 6.000 2/28/2020 EUR 74.160 Vontobel Financial Produc 12.000 1/3/2020 EUR 65.810 Vontobel Financial Produc 13.500 1/3/2020 EUR 58.650 UniCredit Bank AG 4.700 12/19/2021 EUR 66.740 Vontobel Financial Produc 14.000 1/3/2020 EUR 58.220 Vontobel Financial Produc 10.500 1/3/2020 EUR 46.360 Vontobel Financial Produc 12.500 1/3/2020 EUR 75.150 Vontobel Financial Produc 10.000 1/3/2020 EUR 67.650 Vontobel Financial Produc 8.500 1/3/2020 EUR 70.950 Vontobel Financial Produc 6.500 1/3/2020 EUR 74.580 Vontobel Financial Produc 7.500 1/3/2020 EUR 72.660 Vontobel Financial Produc 11.000 1/3/2020 EUR 67.250 Vontobel Financial Produc 7.500 1/3/2020 EUR 71.420 Vontobel Financial Produc 11.500 1/3/2020 EUR 64.480 Landesbank Hessen-Thuerin 4.750 3/3/2020 EUR 76.700 Landesbank Hessen-Thuerin 3.250 7/8/2020 EUR 76.500 Vontobel Financial Produc 11.500 1/3/2020 EUR 74.220 Vontobel Financial Produc 10.000 12/31/2019 EUR 42.790 Vontobel Financial Produc 10.000 12/31/2019 EUR 73.560 Landesbank Baden-Wuerttem 2.550 2/28/2020 EUR 73.910 Leonteq Securities AG/Gue 6.200 3/11/2020 CHF 68.040 Vontobel Financial Produc 8.000 3/27/2020 EUR 64.060 BNP Paribas Emissions- un 6.000 3/26/2020 EUR 66.530 BNP Paribas Emissions- un 9.000 6/25/2020 EUR 68.090 Bank Julius Baer & Co Ltd 10.100 2/14/2020 USD 71.650 Vontobel Financial Produc 12.000 1/3/2020 EUR 66.870 UBS AG/London 10.000 6/19/2020 EUR 64.950 DZ Bank AG Deutsche Zentr 5.500 3/25/2020 EUR 54.670 DekaBank Deutsche Girozen 2.000 10/16/2020 EUR 56.700 UniCredit Bank AG 5.350 10/18/2020 EUR 57.540 HSBC Trinkaus & Burkhardt 11.400 12/27/2019 EUR 44.910 Raiffeisen Schweiz Genoss 5.750 2/25/2021 CHF 68.610 HSBC Trinkaus & Burkhardt 11.500 12/27/2019 EUR 75.130 DekaBank Deutsche Girozen 4.700 5/29/2020 EUR 72.060 DekaBank Deutsche Girozen 6.000 5/29/2020 EUR 59.150 BNP Paribas Emissions- un 19.000 12/30/2019 EUR 61.580 EFG International Finance 6.600 9/28/2020 EUR 69.640 DekaBank Deutsche Girozen 2.000 10/9/2020 EUR 72.480 Landesbank Baden-Wuerttem 5.000 1/24/2020 EUR 54.000 Landesbank Baden-Wuerttem 7.000 1/24/2020 EUR 49.910 Commerzbank AG 8.000 11/6/2020 USD 4.000 Vontobel Financial Produc 8.500 3/27/2020 EUR 59.250 Vontobel Financial Produc 7.000 3/27/2020 EUR 62.250 Vontobel Financial Produc 10.000 3/27/2020 EUR 56.570 Vontobel Financial Produc 6.000 1/3/2020 EUR 67.610 Vontobel Financial Produc 7.000 1/3/2020 EUR 60.570 DZ Bank AG Deutsche Zentr 5.500 12/27/2019 EUR 56.010 Landesbank Hessen-Thuerin 7.000 10/20/2022 EUR 74.610 Vontobel Financial Produc 9.000 1/3/2020 EUR 71.010 Vontobel Financial Produc 4.500 3/27/2020 EUR 71.940 Vontobel Financial Produc 4.000 1/3/2020 EUR 71.260 DZ Bank AG Deutsche Zentr 11.000 6/24/2020 EUR 75.740 Leonteq Securities AG/Gue 7.000 9/29/2020 CHF 70.050 UniCredit Bank AG 4.200 12/8/2021 EUR 70.240 Vontobel Financial Produc 5.500 3/27/2020 EUR 65.600 Vontobel Financial Produc 12.000 3/27/2020 EUR 54.330 Vontobel Financial Produc 11.000 3/27/2020 EUR 61.130 Vontobel Financial Produc 9.000 1/3/2020 EUR 57.110 DZ Bank AG Deutsche Zentr 13.750 12/27/2019 EUR 54.260 Landesbank Baden-Wuerttem 3.700 6/26/2020 EUR 65.980 Leonteq Securities AG 11.200 12/17/2019 CHF 72.860 Bank Julius Baer & Co Ltd 5.450 12/18/2019 CHF 71.600 Landesbank Hessen-Thuerin 7.700 1/20/2023 EUR 63.960 EFG International Finance 7.000 11/16/2020 EUR 63.350 BNP Paribas Emissions- un 16.000 12/30/2019 EUR 69.210 UBS AG/London 12.000 6/12/2020 USD 52.370 BNP Paribas Emissions- un 15.000 6/25/2020 EUR 70.800 Landesbank Baden-Wuerttem 3.000 1/24/2020 EUR 59.740 Landesbank Hessen-Thuerin 5.650 10/28/2022 EUR 41.600 UniCredit Bank AG 6.100 8/12/2020 EUR 58.070 DZ Bank AG Deutsche Zentr 11.500 2/26/2020 EUR 50.330 DZ Bank AG Deutsche Zentr 6.500 2/26/2020 EUR 65.510 DZ Bank AG Deutsche Zentr 4.750 3/25/2020 EUR 68.870 Bank Julius Baer & Co Ltd 6.900 1/22/2020 CHF 73.050 Zurcher Kantonalbank Fina 11.500 1/23/2020 USD 59.420 Landesbank Baden-Wuerttem 5.000 1/24/2020 EUR 74.270 Landesbank Baden-Wuerttem 7.000 1/24/2020 EUR 69.030 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 49.040 Landesbank Baden-Wuerttem 6.500 1/24/2020 EUR 45.140 Landesbank Baden-Wuerttem 4.000 1/24/2020 EUR 73.640 Landesbank Baden-Wuerttem 6.000 1/24/2020 EUR 69.170 Bank Julius Baer & Co Ltd 9.700 1/24/2020 USD 67.600 HSBC Trinkaus & Burkhardt 10.500 6/26/2020 EUR 42.490 HSBC Trinkaus & Burkhardt 7.700 6/26/2020 EUR 45.390 HSBC Trinkaus & Burkhardt 5.200 6/26/2020 EUR 49.580 HSBC Trinkaus & Burkhardt 9.700 2/28/2020 EUR 41.150 Deutsche Bank AG 4.200 12/24/2019 EUR 73.490 Commerzbank AG 14.750 12/31/2019 EUR 67.140 Commerzbank AG 14.250 12/31/2019 EUR 70.380 Vontobel Financial Produc 10.000 1/24/2020 EUR 64.870 Vontobel Financial Produc 11.000 1/24/2020 EUR 64.980 UBS AG/London 20.000 1/24/2020 CHF 58.000 Vontobel Financial Produc 13.000 1/3/2020 EUR 65.900 Vontobel Financial Produc 9.000 1/3/2020 EUR 72.480 Vontobel Financial Produc 10.500 1/3/2020 EUR 70.140 Vontobel Financial Produc 12.000 1/3/2020 EUR 67.960 Vontobel Financial Produc 10.500 3/27/2020 EUR 69.760 Vontobel Financial Produc 8.500 3/27/2020 EUR 73.340 Vontobel Financial Produc 9.500 3/27/2020 EUR 71.580 Vontobel Financial Produc 12.000 3/27/2020 EUR 68.170 UBS AG/London 24.500 3/26/2020 EUR 67.950 UBS AG/London 23.700 6/25/2020 EUR 68.190 UBS AG/London 15.900 6/25/2020 EUR 71.560 UBS AG/London 20.300 6/25/2020 EUR 70.560 DZ Bank AG Deutsche Zentr 7.750 12/27/2019 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68.100 Vontobel Financial Produc 12.500 1/3/2020 EUR 72.640 Vontobel Financial Produc 13.500 1/3/2020 EUR 70.280 Vontobel Financial Produc 16.000 1/3/2020 EUR 66.030 SG Issuer SA 5.000 5/23/2024 EUR 62.590 SG Issuer SA 5.000 4/2/2024 EUR 61.820 Leonteq Securities AG/Gue 6.600 8/18/2020 CHF 71.600 Leonteq Securities AG/Gue 6.000 8/18/2020 CHF 70.310 UniCredit Bank AG 5.250 9/19/2020 EUR 58.740 Raiffeisen Schweiz Genoss 9.000 10/12/2020 CHF 67.690 Landesbank Hessen-Thuerin 6.600 2/17/2023 EUR 59.050 Landesbank Hessen-Thuerin 4.350 2/24/2023 EUR 42.250 DekaBank Deutsche Girozen 2.800 1/24/2020 EUR 61.470 DekaBank Deutsche Girozen 2.900 1/31/2020 EUR 77.980 DekaBank Deutsche Girozen 2.900 2/21/2020 EUR 77.420 Vontobel Financial Produc 27.500 8/12/2020 USD 57.370 Vontobel Financial Produc 9.500 6/12/2020 EUR 67.970 Vontobel Financial Produc 9.000 9/11/2020 EUR 69.510 DZ Bank AG Deutsche Zentr 4.500 9/23/2020 EUR 70.780 DZ Bank AG Deutsche Zentr 6.000 6/24/2020 EUR 61.300 HSBC Trinkaus & Burkhardt 2.620 12/30/2019 EUR 74.740 DZ Bank AG Deutsche Zentr 5.250 12/27/2019 EUR 71.280 DZ Bank AG Deutsche Zentr 17.000 6/26/2020 EUR 72.570 Vontobel Financial Produc 4.500 6/12/2020 EUR 72.170 UBS AG/London 23.400 6/25/2020 EUR 68.970 Leonteq Securities AG/Gue 4.750 11/1/2021 CHF 44.650 Vontobel Financial Produc 10.500 1/3/2020 EUR 74.660 Vontobel Financial Produc 12.000 1/3/2020 EUR 48.720 EFG International Finance 8.000 4/21/2020 USD 42.750 Leonteq Securities AG 7.400 4/24/2020 USD 43.400 Bayerische Landesbank 2.400 11/13/2020 EUR 73.530 DekaBank Deutsche Girozen 2.200 5/15/2020 EUR 73.650 DekaBank Deutsche Girozen 2.100 5/15/2020 EUR 60.550 DekaBank Deutsche Girozen 2.200 4/20/2020 EUR 67.500 UniCredit Bank AG 4.000 7/31/2020 EUR 66.160 Commerzbank AG 30.000 6/30/2020 USD 0.010 Landesbank Baden-Wuerttem 3.250 6/26/2020 EUR 69.910 Vontobel Financial Produc 17.500 1/3/2020 EUR 49.610 Vontobel Financial Produc 16.000 1/3/2020 EUR 51.670 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 71.490 BNP Paribas Emissions- un 25.000 12/30/2019 EUR 61.780 BNP Paribas Emissions- un 21.000 3/26/2020 EUR 72.600 UBS AG/London 18.600 6/25/2020 EUR 66.570 UBS AG/London 23.400 3/26/2020 EUR 64.450 UBS AG/London 10.200 6/25/2020 EUR 72.190 UBS AG/London 22.700 3/26/2020 EUR 61.370 Landesbank Baden-Wuerttem 6.500 8/28/2020 EUR 69.610 Vontobel Financial Produc 8.500 12/31/2019 EUR 69.740 DZ Bank AG Deutsche Zentr 6.250 12/27/2019 EUR 40.000 DZ Bank AG Deutsche Zentr 10.500 12/27/2019 EUR 71.640 BNP Paribas Emissions- un 18.000 12/30/2019 EUR 71.320 BNP Paribas Emissions- un 13.000 12/30/2019 EUR 68.520 UniCredit Bank AG 7.800 12/29/2020 EUR 42.350 UniCredit Bank AG 9.200 12/29/2020 EUR 40.490 UniCredit Bank AG 19.800 6/26/2020 EUR 73.130 Societe Generale SA 12.000 4/2/2020 USD 48.200 Vontobel Financial Produc 11.000 3/27/2020 EUR 57.260 DZ Bank AG Deutsche Zentr 10.000 3/25/2020 EUR 69.720 DZ Bank AG Deutsche Zentr 4.500 12/27/2019 EUR 58.980 Leonteq Securities AG 9.000 3/27/2020 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UniCredit Bank AG 4.000 6/11/2020 EUR 67.030 UBS AG/London 11.000 5/4/2020 USD 67.600 UBS AG/London 9.500 11/16/2020 USD 61.200 Raiffeisen Schweiz Genoss 6.000 5/25/2020 EUR 68.310 Raiffeisen Schweiz Genoss 4.600 5/25/2020 CHF 59.230 Raiffeisen Schweiz Genoss 8.600 5/28/2020 CHF 61.160 Raiffeisen Schweiz Genoss 7.500 5/25/2020 CHF 21.290 Raiffeisen Schweiz Genoss 6.450 5/25/2020 CHF 73.460 UBS AG/London 6.000 5/18/2020 CHF 60.650 UBS AG/London 10.000 5/18/2020 CHF 50.700 Landesbank Hessen-Thuerin 2.350 12/21/2020 EUR 74.100 BNP Paribas Emissions- un 5.000 12/30/2019 EUR 52.870 BNP Paribas Emissions- un 7.000 12/30/2019 EUR 53.320 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 50.950 BNP Paribas Emissions- un 6.000 12/30/2019 EUR 70.620 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 70.330 BNP Paribas Emissions- un 4.000 12/30/2019 EUR 52.320 BNP Paribas Emissions- un 5.000 12/30/2019 EUR 49.980 BNP Paribas Emissions- un 7.000 12/30/2019 EUR 50.390 Leonteq Securities AG 5.600 5/16/2022 CHF 74.740 DekaBank Deutsche Girozen 2.660 2/28/2020 EUR 74.520 Leonteq Securities AG/Gue 7.000 12/1/2020 CHF 75.160 Landesbank Hessen-Thuerin 5.350 9/22/2023 EUR 67.620 DekaBank Deutsche Girozen 2.800 6/19/2020 EUR 54.920 EFG International Finance 7.000 6/8/2021 EUR 70.420 EFG International Finance 5.550 7/12/2021 USD 57.420 Leonteq Securities AG/Gue 6.000 5/22/2020 CHF 62.570 Landesbank Baden-Wuerttem 3.100 7/24/2020 EUR 64.530 DekaBank Deutsche Girozen 3.800 10/23/2020 EUR 65.000 Raiffeisen Schweiz Genoss 6.500 10/9/2020 CHF 56.610 Landesbank Hessen-Thuerin 4.750 5/11/2023 EUR 61.930 Landesbank Baden-Wuerttem 4.400 1/24/2020 EUR 69.520 Landesbank Baden-Wuerttem 4.100 1/24/2020 EUR 72.230 Landesbank Baden-Wuerttem 4.100 1/24/2020 EUR 64.550 Leonteq Securities AG/Gue 10.000 4/17/2020 CHF 46.650 UBS AG/London 5.500 4/6/2020 CHF 75.550 UBS AG/London 3.900 1/2/2020 EUR 69.110 UBS AG/London 4.500 3/26/2020 EUR 59.860 UBS AG/London 5.000 1/2/2020 EUR 67.870 UniCredit Bank AG 10.600 1/3/2020 EUR 75.520 UniCredit Bank AG 7.700 1/3/2020 EUR 60.800 UniCredit Bank AG 9.900 1/3/2020 EUR 53.950 Landesbank Hessen-Thuerin 8.600 11/17/2022 EUR 64.640 Landesbank Baden-Wuerttem 3.000 12/29/2020 EUR 67.540 Landesbank Baden-Wuerttem 4.400 12/29/2020 EUR 75.870 UBS AG/London 9.500 4/20/2020 CHF 63.300 EFG International Finance 7.200 11/2/2020 EUR 65.930 Landesbank Hessen-Thuerin 4.000 11/24/2021 EUR 55.750 Landesbank Hessen-Thuerin 4.000 11/24/2021 EUR 66.140 Landesbank Hessen-Thuerin 2.200 11/24/2020 EUR 56.950 Landesbank Hessen-Thuerin 6.450 2/24/2023 EUR 64.710 Leonteq Securities AG/Gue 6.400 11/3/2021 CHF 70.770 Leonteq Securities AG/Gue 6.400 11/3/2020 EUR 56.670 Landesbank Hessen-Thuerin 3.000 6/4/2021 EUR 73.800 Landesbank Hessen-Thuerin 4.000 6/4/2021 EUR 48.700 DekaBank Deutsche Girozen 2.000 6/25/2021 EUR 62.620 UniCredit Bank AG 6.000 12/25/2021 EUR 74.550 Bayerische Landesbank 3.100 7/10/2020 EUR 67.240 UBS AG/London 5.750 11/23/2020 CHF 63.500 UBS AG/London 8.000 6/8/2020 CHF 71.250 UBS AG/London 10.750 6/8/2020 CHF 63.700 UBS AG/London 6.500 12/7/2020 EUR 61.100 UBS AG/London 7.250 6/8/2020 USD 67.930 Corner Banca SA 11.000 12/18/2019 CHF 54.590 Leonteq Securities AG 5.000 6/15/2021 CHF 60.100 Leonteq Securities AG/Gue 7.000 6/15/2020 CHF 59.630 UBS AG/London 7.100 1/2/2020 EUR 58.290 UBS AG/London 4.300 1/2/2020 EUR 58.560 Raiffeisen Schweiz Genoss 6.500 12/18/2019 CHF 50.010 Raiffeisen Schweiz Genoss 5.300 12/15/2020 EUR 74.150 Deutsche Bank AG 5.500 12/24/2019 EUR Deutsche Bank AG 5.500 12/24/2019 EUR 60.600 Deutsche Bank AG 5.500 12/24/2019 EUR 55.200 Deutsche Bank AG 5.500 12/24/2019 EUR 54.900 Deutsche Bank AG 5.500 12/24/2019 EUR 68.100 Deutsche Bank AG 5.500 12/24/2019 EUR Deutsche Bank AG 5.500 12/24/2019 EUR DekaBank Deutsche Girozen 4.300 1/4/2021 EUR 57.980 UBS AG/London 8.750 6/15/2020 EUR 71.750 Bayerische Landesbank 3.000 7/17/2020 EUR 71.000 DekaBank Deutsche Girozen 3.350 7/10/2020 EUR 69.110 Raiffeisen Schweiz Genoss 6.300 1/6/2020 CHF 57.610 Raiffeisen Schweiz Genoss 5.000 12/22/2020 CHF 74.620 BNP Paribas Emissions- un 8.500 12/30/2019 EUR 65.020 BNP Paribas Emissions- un 15.000 12/30/2019 EUR 65.220 BNP Paribas Emissions- un 19.000 12/30/2019 EUR 65.340 BNP Paribas Emissions- un 6.500 12/30/2019 EUR 72.750 BNP Paribas Emissions- un 8.500 12/30/2019 EUR 72.820 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 72.890 BNP Paribas Emissions- un 5.000 12/30/2019 EUR 71.260 BNP Paribas Emissions- un 7.000 12/30/2019 EUR 71.320 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 64.460 BNP Paribas Emissions- un 17.000 12/30/2019 EUR 64.690 BNP Paribas Emissions- un 4.000 12/30/2019 EUR 55.190 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 55.310 BNP Paribas Emissions- un 14.000 12/30/2019 EUR 55.500 BNP Paribas Emissions- un 20.000 12/30/2019 EUR 61.780 BNP Paribas Emissions- un 4.500 12/30/2019 EUR 58.090 BNP Paribas Emissions- un 6.500 12/30/2019 EUR 75.840 BNP Paribas Emissions- un 18.000 12/30/2019 EUR 66.270 BNP Paribas Emissions- un 20.000 12/30/2019 EUR 68.340 BNP Paribas Emissions- un 4.500 12/30/2019 EUR 65.980 BNP Paribas Emissions- un 6.500 12/30/2019 EUR 66.040 Vontobel Financial Produc 9.500 1/3/2020 EUR 73.710 Vontobel Financial Produc 14.500 1/3/2020 EUR 65.780 Vontobel Financial Produc 13.000 1/3/2020 EUR 67.580 Vontobel Financial Produc 16.000 1/3/2020 EUR 64.050 Vontobel Financial Produc 16.000 1/3/2020 EUR 61.790 Vontobel Financial Produc 18.000 1/3/2020 EUR 68.270 Vontobel Financial Produc 13.000 1/3/2020 EUR 72.240 Vontobel Financial Produc 11.500 1/3/2020 EUR 74.650 Vontobel Financial Produc 14.500 1/3/2020 EUR 69.990 Leonteq Securities AG/Gue 10.280 6/11/2020 CHF 70.020 UBS AG/London 5.400 1/2/2020 EUR 56.220 UBS AG/London 6.100 6/25/2020 EUR 58.960 UBS AG/London 8.100 1/2/2020 EUR 55.460 Raiffeisen Schweiz Genoss 7.100 6/15/2020 CHF 58.450 Raiffeisen Schweiz Genoss 9.500 12/15/2020 CHF 75.020 Credit Suisse AG/Nassau 7.000 12/30/2019 CHF 58.200 Deutsche Bank AG 5.500 12/24/2019 EUR Deutsche Bank AG 5.500 12/24/2019 EUR Deutsche Bank AG 5.500 12/24/2019 EUR 62.000 Deutsche Bank AG 5.500 12/24/2019 EUR 57.800 Deutsche Bank AG 5.500 12/24/2019 EUR Deutsche Bank AG 5.500 12/24/2019 EUR 61.300 Deutsche Bank AG 5.500 12/24/2019 EUR 50.000 Credit Suisse AG/London 7.000 12/18/2019 CHF 55.530 Leonteq Securities AG 10.000 12/27/2019 EUR 72.870 Credit Suisse AG/London 7.000 12/23/2019 EUR 51.140 UBS AG/London 10.250 6/15/2020 CHF 52.450 UBS AG/London 7.000 12/14/2020 CHF 61.450 UBS AG/London 6.500 12/14/2020 EUR 72.500 UniCredit Bank AG 3.750 8/23/2021 EUR 71.860 Landesbank Baden-Wuerttem 4.150 2/28/2020 EUR 58.650 Landesbank Hessen-Thuerin 5.200 9/8/2022 EUR 72.550 DekaBank Deutsche Girozen 2.150 8/28/2020 EUR 76.360 Landesbank Hessen-Thuerin 4.000 3/8/2021 EUR 55.300 Raiffeisen Switzerland BV 5.000 8/14/2020 EUR 50.360 Landesbank Hessen-Thuerin 4.500 9/8/2021 EUR 65.720 EFG International Finance 6.000 8/24/2020 CHF 70.280 Landesbank Hessen-Thuerin 3.100 8/13/2020 EUR 61.200 DekaBank Deutsche Girozen 3.100 1/10/2020 EUR 36.370 Leonteq Securities AG 8.000 1/27/2020 EUR 72.270 Barclays Bank PLC 13.500 10/16/2020 EUR 76.720 Raiffeisen Centrobank AG 4.737 12/27/2019 EUR 57.530 Raiffeisen Centrobank AG 6.767 12/27/2019 EUR 58.230 Zurcher Kantonalbank Fina 7.250 10/19/2020 CHF 72.540 Landesbank Hessen-Thuerin 5.450 11/17/2022 EUR 65.610 UniCredit Bank AG 11.600 1/3/2020 EUR 44.440 UniCredit Bank AG 12.200 1/3/2020 EUR 54.230 UniCredit Bank AG 9.800 1/3/2020 EUR 48.170 UniCredit Bank AG 7.500 1/3/2020 EUR 62.590 UniCredit Bank AG 5.300 1/3/2020 EUR 61.160 UniCredit Bank AG 6.000 1/3/2020 EUR 50.690 UniCredit Bank AG 6.500 1/3/2020 EUR 46.860 UniCredit Bank AG 5.400 1/3/2020 EUR 51.700 UniCredit Bank AG 11.600 1/3/2020 EUR 72.310 UniCredit Bank AG 11.000 1/3/2020 EUR 41.220 UniCredit Bank AG 3.800 1/3/2020 EUR 70.470 UniCredit Bank AG 7.200 1/3/2020 EUR 55.900 UniCredit Bank AG 7.100 1/3/2020 EUR 61.790 UniCredit Bank AG 6.900 1/3/2020 EUR 52.230 UniCredit Bank AG 6.800 1/3/2020 EUR 58.350 UniCredit Bank AG 8.500 1/3/2020 EUR 65.160 UniCredit Bank AG 10.300 1/3/2020 EUR 48.280 UniCredit Bank AG 7.600 1/3/2020 EUR 73.610 UniCredit Bank AG 6.000 1/3/2020 EUR 71.620 UniCredit Bank AG 10.900 1/3/2020 EUR 60.430 UniCredit Bank AG 8.600 1/3/2020 EUR 34.590 UniCredit Bank AG 9.900 1/3/2020 EUR 50.090 UniCredit Bank AG 4.600 1/3/2020 EUR 62.890 UniCredit Bank AG 4.700 1/3/2020 EUR 74.630 UniCredit Bank AG 10.000 1/3/2020 EUR 54.760 DZ Bank AG Deutsche Zentr 7.250 8/26/2020 EUR 73.160 Landesbank Hessen-Thuerin 3.350 8/13/2020 EUR 75.200 BNP Paribas Issuance BV 6.400 6/1/2020 EUR 60.900 BNP Paribas Issuance BV 6.200 6/1/2020 EUR 70.650 Leonteq Securities AG/Gue 2.500 6/5/2024 EUR 61.650 Landesbank Hessen-Thuerin 4.000 11/10/2021 EUR 70.850 EFG International Finance 7.200 10/26/2020 USD 56.730 Raiffeisen Centrobank AG 8.571 12/27/2019 EUR 20.250 Raiffeisen Centrobank AG 6.767 12/27/2019 EUR 71.540 Raiffeisen Centrobank AG 7.444 12/27/2019 EUR 73.030 Landesbank Hessen-Thuerin 5.100 2/17/2023 EUR 62.470 UniCredit Bank AG 4.850 11/1/2020 EUR 59.374 UniCredit Bank AG 12.100 1/3/2020 EUR 42.290 UniCredit Bank AG 6.300 1/3/2020 EUR 74.350 UniCredit Bank AG 9.800 1/3/2020 EUR 63.260 UniCredit Bank AG 7.300 1/3/2020 EUR 47.400 UniCredit Bank AG 8.800 1/3/2020 EUR 44.530 UniCredit Bank AG 6.800 1/3/2020 EUR 62.960 UniCredit Bank AG 5.000 1/3/2020 EUR 2.190 UniCredit Bank AG 3.400 1/3/2020 EUR 71.170 UniCredit Bank AG 12.200 1/3/2020 EUR 39.150 UniCredit Bank AG 8.700 1/3/2020 EUR 69.000 UniCredit Bank AG 11.200 1/3/2020 EUR 50.690 UniCredit Bank AG 3.900 1/3/2020 EUR 57.820 UniCredit Bank AG 8.400 1/3/2020 EUR 47.150 UniCredit Bank AG 8.000 1/3/2020 EUR 48.600 UniCredit Bank AG 12.900 1/3/2020 EUR 56.790 UniCredit Bank AG 11.900 1/3/2020 EUR 49.740 UniCredit Bank AG 3.600 1/3/2020 EUR 73.670 UniCredit Bank AG 13.000 1/3/2020 EUR 48.840 UniCredit Bank AG 8.800 1/3/2020 EUR 59.870 UniCredit Bank AG 10.100 1/3/2020 EUR 68.330 UniCredit Bank AG 8.700 1/3/2020 EUR 66.110 Vontobel Financial Produc 20.500 9/25/2020 EUR 53.460 UBS AG/London 6.700 6/25/2020 EUR 74.380 UniCredit Bank AG 12.900 1/3/2020 EUR 32.170 UniCredit Bank AG 10.900 1/3/2020 EUR 35.450 UniCredit Bank AG 11.600 1/3/2020 EUR 67.680 UniCredit Bank AG 4.400 1/3/2020 EUR 61.740 UniCredit Bank AG 8.000 1/3/2020 EUR 78.690 UniCredit Bank AG 4.900 1/3/2020 EUR 73.390 UniCredit Bank AG 7.000 1/3/2020 EUR 67.130 Landesbank Baden-Wuerttem 3.000 12/29/2020 EUR 74.910 Landesbank Baden-Wuerttem 3.600 12/29/2020 EUR 74.380 UniCredit Bank AG 4.250 11/21/2021 EUR 72.240 UniCredit Bank AG 4.200 11/21/2021 EUR 65.500 UBS AG/London 18.000 6/25/2020 EUR 63.460 UBS AG/London 16.300 6/25/2020 EUR 68.390 UniCredit Bank AG 5.350 7/28/2020 EUR 75.710 Leonteq Securities AG/Gue 5.000 9/8/2020 CHF 42.860 Vontobel Financial Produc 6.000 1/3/2020 EUR 62.620 BNP Paribas Emissions- un 8.000 3/26/2020 EUR 67.060 BNP Paribas Emissions- un 10.000 3/26/2020 EUR 67.580 Vontobel Financial Produc 16.000 9/25/2020 EUR 68.700 UniCredit Bank AG 3.500 9/19/2021 EUR 53.310 DekaBank Deutsche Girozen 2.000 9/18/2020 EUR 75.490 Leonteq Securities AG/Gue 8.200 9/1/2020 CHF 73.350 DZ Bank AG Deutsche Zentr 10.250 3/25/2020 EUR 65.960 Commerzbank AG 2.100 8/28/2020 EUR 63.550 Landesbank Baden-Wuerttem 6.100 3/27/2020 EUR 61.640 Zurcher Kantonalbank Fina 6.750 2/19/2020 EUR 62.220 UniCredit Bank AG 5.000 9/26/2021 EUR 66.460 Landesbank Baden-Wuerttem 4.250 2/28/2020 EUR 59.980 Vontobel Financial Produc 5.500 1/3/2020 EUR 62.130 BNP Paribas Emissions- un 7.000 6/25/2020 EUR 67.050 BNP Paribas Emissions- un 8.000 6/25/2020 EUR 67.570 DekaBank Deutsche Girozen 3.650 3/27/2020 EUR 66.830 UniCredit Bank AG 3.800 9/19/2021 EUR 65.040 UniCredit Bank AG 3.850 9/19/2021 EUR 60.630 DZ Bank AG Deutsche Zentr 8.250 3/25/2020 EUR 61.610 Landesbank Baden-Wuerttem 4.450 8/28/2020 EUR 69.320 Leonteq Securities AG/Gue 5.200 7/28/2020 CHF 67.430 Landesbank Baden-Wuerttem 2.800 1/24/2020 EUR 76.390 Societe Generale SA 8.600 7/29/2022 USD 47.900 Landesbank Baden-Wuerttem 3.500 8/28/2020 EUR 74.900 Leonteq Securities AG/Gue 7.800 2/16/2021 USD 51.930 Landesbank Hessen-Thuerin 4.000 10/13/2021 EUR 66.240 Landesbank Hessen-Thuerin 6.250 7/15/2022 EUR 57.690 Landesbank Hessen-Thuerin 4.000 4/29/2020 EUR 77.070 Federal Grid Co Unified E 5.000 3/23/2050 RUB Societe Generale Effekten 9.840 3/27/2020 EUR 67.210 Societe Generale Effekten 13.120 3/27/2020 EUR 65.150 Societe Generale Effekten 8.614 9/25/2020 EUR 74.680 Societe Generale Effekten 21.836 6/25/2021 EUR 71.180 Landesbank Baden-Wuerttem 3.500 6/25/2021 EUR 73.960 Bank Julius Baer & Co Ltd 8.100 5/5/2020 USD 74.600 Goldman Sachs & Co Wertpa 10.000 5/20/2020 EUR 70.400 Vontobel Financial Produc 8.000 3/27/2020 EUR 72.150 Vontobel Financial Produc 9.500 3/27/2020 EUR 70.390 Vontobel Financial Produc 17.000 3/27/2020 EUR 59.190 Vontobel Financial Produc 17.500 3/27/2020 EUR 68.680 Vontobel Financial Produc 5.000 3/27/2020 EUR 71.370 Landesbank Baden-Wuerttem 2.000 6/25/2021 EUR 74.890 Goldman Sachs & Co Wertpa 6.000 1/22/2020 EUR 60.920 Goldman Sachs & Co Wertpa 7.000 1/22/2020 EUR 63.300 Societe Generale Effekten 4.910 12/31/2019 EUR 71.650 Societe Generale Effekten 7.014 12/31/2019 EUR 64.620 Societe Generale Effekten 7.497 3/27/2020 EUR 73.580 Societe Generale Effekten 8.434 3/27/2020 EUR 70.150 Societe Generale Effekten 9.372 3/27/2020 EUR 70.440 Societe Generale Effekten 9.372 3/27/2020 EUR 67.070 Societe Generale Effekten 12.183 3/27/2020 EUR 64.870 Societe Generale Effekten 14.057 3/27/2020 EUR 65.440 Landesbank Baden-Wuerttem 6.500 6/25/2021 EUR 74.250 Goldman Sachs & Co Wertpa 5.000 1/22/2020 EUR 65.040 Goldman Sachs & Co Wertpa 5.000 2/26/2020 EUR 65.310 Goldman Sachs & Co Wertpa 5.000 3/25/2020 EUR 65.500 Landesbank Baden-Wuerttem 6.500 6/25/2021 EUR 60.670 Landesbank Baden-Wuerttem 5.000 6/25/2021 EUR 74.900 Landesbank Baden-Wuerttem 3.500 6/25/2021 EUR 76.480 Goldman Sachs & Co Wertpa 7.000 12/27/2019 EUR 62.830 Goldman Sachs & Co Wertpa 7.000 2/26/2020 EUR 61.710 Goldman Sachs & Co Wertpa 6.000 4/22/2020 EUR 66.310 Landesbank Baden-Wuerttem 3.000 6/25/2021 EUR 66.450 Societe Generale Effekten 10.309 3/27/2020 EUR 67.350 Societe Generale Effekten 11.246 3/27/2020 EUR 67.640 Societe Generale Effekten 11.714 3/27/2020 EUR 64.720 Societe Generale Effekten 9.490 6/26/2020 EUR 74.690 Societe Generale Effekten 11.863 6/26/2020 EUR 69.030 Societe Generale Effekten 14.829 6/26/2020 EUR 64.690 Societe Generale Effekten 17.795 6/26/2020 EUR 66.040 Landesbank Baden-Wuerttem 5.000 6/25/2021 EUR 62.170 Goldman Sachs & Co Wertpa 6.000 12/27/2019 EUR 60.400 Goldman Sachs & Co Wertpa 8.000 2/26/2020 EUR 64.140 Goldman Sachs & Co Wertpa 6.000 5/20/2020 EUR 66.750 Goldman Sachs & Co Wertpa 23.000 4/22/2020 EUR 75.010 Deutsche Bank AG 8.200 3/24/2020 EUR 72.400 Goldman Sachs & Co Wertpa 23.000 2/26/2020 EUR 74.850 Goldman Sachs & Co Wertpa 24.000 3/25/2020 EUR 73.540 Landesbank Hessen-Thuerin 5.000 8/11/2021 EUR 59.650 Raiffeisen Schweiz Genoss 7.410 7/13/2020 CHF 71.130 Deutsche Bank AG 8.200 6/23/2020 EUR 73.100 DZ Bank AG Deutsche Zentr 8.000 6/24/2020 EUR 73.200 Societe Generale Effekten 4.208 12/31/2019 EUR 71.610 Societe Generale Effekten 7.014 12/31/2019 EUR 71.770 Societe Generale Effekten 8.767 12/31/2019 EUR 64.720 Societe Generale Effekten 6.092 3/27/2020 EUR 73.150 Societe Generale Effekten 7.966 3/27/2020 EUR 70.010 Societe Generale Effekten 9.840 3/27/2020 EUR 70.580 Societe Generale Effekten 10.777 3/27/2020 EUR 67.500 Societe Generale Effekten 11.714 3/27/2020 EUR 67.780 Societe Generale Effekten 13.589 3/27/2020 EUR 62.510 Societe Generale Effekten 6.082 4/24/2020 EUR 73.230 Societe Generale Effekten 3.507 12/31/2019 EUR 71.570 Societe Generale Effekten 5.611 12/31/2019 EUR 71.690 Societe Generale Effekten 6.560 3/27/2020 EUR 73.290 Societe Generale Effekten 12.652 3/27/2020 EUR 65.010 Societe Generale Effekten 10.137 4/24/2020 EUR 67.830 Societe Generale Effekten 15.205 4/24/2020 EUR 63.830 Societe Generale Effekten 7.118 6/26/2020 EUR 73.610 DekaBank Deutsche Girozen 3.200 1/7/2020 EUR 79.770 Societe Generale Effekten 6.312 12/31/2019 EUR 71.730 Societe Generale Effekten 10.521 12/31/2019 EUR 64.820 Societe Generale Effekten 5.623 3/27/2020 EUR 73.010 Societe Generale Effekten 7.029 3/27/2020 EUR 73.440 Societe Generale Effekten 7.966 3/27/2020 EUR 73.720 Societe Generale Effekten 7.497 3/27/2020 EUR 69.860 Societe Generale Effekten 8.903 3/27/2020 EUR 70.290 Societe Generale Effekten 11.246 3/27/2020 EUR 64.580 Societe Generale Effekten 14.057 3/27/2020 EUR 62.660 Societe Generale Effekten 8.110 4/24/2020 EUR 73.960 Societe Generale Effekten 12.671 4/24/2020 EUR 68.740 DZ Bank AG Deutsche Zentr 9.000 12/27/2019 EUR 75.840 DZ Bank AG Deutsche Zentr 5.000 6/24/2020 EUR 71.970 Societe Generale Effekten 8.958 9/18/2020 EUR 70.620 Societe Generale Effekten 21.992 12/20/2019 EUR 48.850 Societe Generale Effekten 26.897 12/20/2019 EUR 71.010 Societe Generale Effekten 9.018 3/20/2020 EUR 68.050 Societe Generale Effekten 7.619 6/19/2020 EUR 70.250 Societe Generale Effekten 22.874 3/20/2020 EUR 55.350 Societe Generale Effekten 11.570 6/19/2020 EUR 65.660 Societe Generale Effekten 26.581 12/20/2019 EUR 67.080 Societe Generale Effekten 8.860 12/20/2019 EUR 70.380 Societe Generale Effekten 25.074 3/20/2020 EUR 63.290 Vontobel Financial Produc 15.500 6/26/2020 EUR 55.890 Societe Generale Effekten 22.874 3/20/2020 EUR 58.100 Societe Generale Effekten 14.077 3/20/2020 EUR 75.310 Vontobel Financial Produc 14.500 3/27/2020 EUR 61.390 Societe Generale Effekten 21.992 12/20/2019 EUR 71.290 Societe Generale Effekten 4.839 3/20/2020 EUR 73.930 Societe Generale Effekten 9.898 3/20/2020 EUR 67.050 Societe Generale Effekten 20.895 3/20/2020 EUR 59.140 Societe Generale Effekten 21.995 3/20/2020 EUR 58.640 Societe Generale Effekten 10.159 6/19/2020 EUR 70.670 Societe Generale Effekten 22.214 3/20/2020 EUR 65.240 Societe Generale Effekten 4.905 12/20/2019 EUR 66.080 Societe Generale Effekten 17.156 3/20/2020 EUR 58.210 Societe Generale Effekten 7.337 6/19/2020 EUR 71.170 Societe Generale Effekten 19.471 6/19/2020 EUR 60.810 Vontobel Financial Produc 13.500 6/12/2020 EUR 59.490 Vontobel Financial Produc 10.500 6/12/2020 EUR 58.030 SG Issuer SA 0.800 11/30/2020 SEK 18.200 UniCredit Bank AG 3.500 9/22/2020 EUR 72.740 SG Issuer SA 5.000 7/10/2021 EUR 12.500 DZ Bank AG Deutsche Zentr 5.000 9/21/2020 EUR 73.400 DZ Bank AG Deutsche Zentr 6.500 9/21/2020 EUR 68.610 DZ Bank AG Deutsche Zentr 4.750 12/21/2020 EUR 73.740 DZ Bank AG Deutsche Zentr 7.000 12/21/2020 EUR 73.670 DZ Bank AG Deutsche Zentr 6.500 12/21/2020 EUR 73.140 DZ Bank AG Deutsche Zentr 7.500 9/21/2020 EUR 71.560 DZ Bank AG Deutsche Zentr 9.250 9/23/2020 EUR Vontobel Financial Produc 6.000 3/27/2020 EUR 72.360 Vontobel Financial Produc 13.500 6/25/2020 EUR 64.960 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 68.970 Landesbank Baden-Wuerttem 6.000 4/24/2020 EUR 71.750 DZ Bank AG Deutsche Zentr 12.500 4/22/2020 EUR 48.610 Vontobel Financial Produc 6.000 6/25/2020 EUR 73.260 Credit Suisse AG/London 10.000 4/20/2020 USD 72.470 Vontobel Financial Produc 9.500 3/27/2020 EUR 74.890 DZ Bank AG Deutsche Zentr 8.500 9/23/2020 EUR 77.010 EFG International Finance 15.000 4/23/2020 USD 45.310 Vontobel Financial Produc 13.000 3/27/2020 EUR 71.370 Vontobel Financial Produc 9.500 6/25/2020 EUR 68.490 Vontobel Financial Produc 9.500 6/26/2020 EUR 73.610 Leonteq Securities AG/Gue 19.610 9/4/2020 USD 60.670 Societe Generale Effekten 24.205 9/18/2020 EUR 74.470 Vontobel Financial Produc 11.000 9/25/2020 EUR 57.601 Vontobel Financial Produc 23.000 3/27/2020 EUR 71.120 Leonteq Securities AG/Gue 5.000 1/20/2020 CHF 23.410 National Capital JSC 10.000 9/15/2020 RUB 60.060 Leonteq Securities AG/Gue 5.000 5/3/2021 EUR 67.560 UniCredit Bank AG 4.500 11/18/2020 EUR 53.340 Vontobel Financial Produc 13.500 6/12/2020 EUR 74.140 Vontobel Financial Produc 9.500 6/12/2020 EUR 75.240 Vontobel Financial Produc 14.500 6/12/2020 EUR 69.710 Vontobel Financial Produc 17.000 6/12/2020 EUR 67.520 Landesbank Hessen-Thuerin 4.000 10/14/2020 EUR 37.660 DZ Bank AG Deutsche Zentr 6.900 3/23/2020 EUR 70.520 DZ Bank AG Deutsche Zentr 11.000 3/23/2020 EUR DZ Bank AG Deutsche Zentr 10.000 6/22/2020 EUR DZ Bank AG Deutsche Zentr 11.000 6/22/2020 EUR 63.270 DZ Bank AG Deutsche Zentr 9.250 9/21/2020 EUR 64.410 DZ Bank AG Deutsche Zentr 11.000 9/21/2020 EUR SG Issuer SA 0.820 8/2/2021 SEK 19.810 Vontobel Financial Produc 14.500 3/27/2020 EUR 71.130 Vontobel Financial Produc 10.500 6/26/2020 EUR 68.910 Vontobel Financial Produc 5.000 3/27/2020 EUR 76.090 DZ Bank AG Deutsche Zentr 6.100 3/23/2020 EUR 72.550 VTB Bank PJSC 3.000 9/15/2044 RUB 100.000 DekaBank Deutsche Girozen 2.700 7/1/2020 EUR 72.080 Landesbank Hessen-Thuerin 7.770 7/15/2021 EUR 28.160 Leonteq Securities AG/Gue 20.000 6/24/2020 USD 63.390 Vontobel Financial Produc 9.000 6/25/2020 EUR 70.590 Vontobel Financial Produc 8.000 3/27/2020 EUR 72.110 Vontobel Financial Produc 20.500 3/27/2020 EUR 72.250 DZ Bank AG Deutsche Zentr 6.250 6/22/2020 EUR 67.920 DZ Bank AG Deutsche Zentr 5.000 6/22/2020 EUR 71.450 DZ Bank AG Deutsche Zentr 7.750 9/21/2020 EUR 67.130 DZ Bank AG Deutsche Zentr 6.000 9/21/2020 EUR 67.230 Vontobel Financial Produc 13.000 6/26/2020 EUR 73.740 Vontobel Financial Produc 18.500 6/26/2020 EUR 66.580 Landesbank Baden-Wuerttem 3.170 5/22/2020 EUR 70.290 Landesbank Hessen-Thuerin 4.000 6/16/2022 EUR 73.710 EFG International Finance 8.000 5/26/2020 USD 46.750 Landesbank Hessen-Thuerin 5.300 9/23/2022 EUR 68.570 HSBC Trinkaus & Burkhardt 5.400 3/27/2020 EUR 72.790 EFG International Finance 7.000 10/12/2020 EUR 64.280 UniCredit Bank AG 4.750 10/24/2021 EUR 9.310 HSBC Trinkaus & Burkhardt 11.100 6/26/2020 EUR 74.470 HSBC Trinkaus & Burkhardt 6.500 9/25/2020 EUR 49.200 HSBC Trinkaus & Burkhardt 2.900 9/25/2020 EUR 58.640 HSBC Trinkaus & Burkhardt 6.300 1/24/2020 EUR 47.010 HSBC Trinkaus & Burkhardt 9.500 2/28/2020 EUR 42.620 HSBC Trinkaus & Burkhardt 3.600 2/28/2020 EUR 53.590 HSBC Trinkaus & Burkhardt 2.600 3/27/2020 EUR 57.440 BNP Paribas Emissions- un 10.000 3/26/2020 EUR 66.770 BNP Paribas Emissions- un 13.000 3/26/2020 EUR 61.830 Landesbank Hessen-Thuerin 7.250 3/15/2023 EUR 49.460 Landesbank Baden-Wuerttem 3.350 8/28/2020 EUR 58.120 EFG International Finance 7.200 11/30/2020 EUR 67.050 Landesbank Baden-Wuerttem 2.500 7/24/2020 EUR 74.830 DZ Bank AG Deutsche Zentr 6.250 3/25/2020 EUR 67.030 Vontobel Financial Produc 8.500 6/26/2020 EUR 75.010 Landesbank Baden-Wuerttem 5.000 4/24/2020 EUR 71.430 HSBC Trinkaus & Burkhardt 5.100 3/27/2020 EUR 64.640 HSBC Trinkaus & Burkhardt 5.600 6/26/2020 EUR 64.130 HSBC Trinkaus & Burkhardt 7.700 9/25/2020 EUR 60.050 HSBC Trinkaus & Burkhardt 5.700 9/25/2020 EUR 64.170 HSBC Trinkaus & Burkhardt 10.600 3/27/2020 EUR 76.970 Bank Julius Baer & Co Ltd 15.300 3/23/2020 USD 69.650 Raiffeisen Switzerland BV 7.600 3/25/2020 EUR 66.890 HSBC Trinkaus & Burkhardt 8.000 6/26/2020 EUR 70.840 HSBC Trinkaus & Burkhardt 8.200 9/25/2020 EUR 70.520 HSBC Trinkaus & Burkhardt 5.400 12/28/2020 EUR 74.430 HSBC Trinkaus & Burkhardt 6.000 7/24/2020 EUR 74.070 HSBC Trinkaus & Burkhardt 10.300 6/26/2020 EUR 56.730 HSBC Trinkaus & Burkhardt 10.300 1/24/2020 EUR 55.720 HSBC Trinkaus & Burkhardt 9.400 7/24/2020 EUR 57.870 EFG International Finance 8.400 1/3/2020 CHF 24.530 Leonteq Securities AG 5.200 12/22/2020 CHF 61.160 Raiffeisen Schweiz Genoss 6.000 1/6/2020 CHF 50.480 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 61.540 BNP Paribas Emissions- un 3.500 12/30/2019 EUR 55.020 BNP Paribas Emissions- un 19.000 12/30/2019 EUR 73.140 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 69.900 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 58.250 BNP Paribas Emissions- un 18.000 12/30/2019 EUR 55.620 BNP Paribas Emissions- un 4.500 12/30/2019 EUR 75.780 BNP Paribas Emissions- un 5.000 12/30/2019 EUR 75.000 BNP Paribas Emissions- un 16.000 12/30/2019 EUR 75.340 BNP Paribas Emissions- un 20.000 12/30/2019 EUR 75.460 BNP Paribas Emissions- un 20.000 12/30/2019 EUR 71.720 BNP Paribas Emissions- un 19.000 12/30/2019 EUR 71.500 BNP Paribas Emissions- un 9.000 12/30/2019 EUR 66.420 BNP Paribas Emissions- un 16.000 12/30/2019 EUR 68.220 BNP Paribas Emissions- un 19.000 12/30/2019 EUR 65.120 Vontobel Financial Produc 9.500 1/3/2020 EUR 64.390 Vontobel Financial Produc 13.500 1/3/2020 EUR 58.750 Vontobel Financial Produc 5.500 1/3/2020 EUR 71.330 Credit Suisse AG/London 6.600 5/22/2020 CHF 62.260 Credit Suisse AG/London 8.750 5/21/2020 USD 62.400 Vontobel Financial Produc 6.500 1/3/2020 EUR 72.620 Vontobel Financial Produc 10.000 1/3/2020 EUR 67.200 HSBC Trinkaus & Burkhardt 5.000 2/10/2020 EUR 54.690 HSBC Trinkaus & Burkhardt 11.400 12/27/2019 EUR 43.220 HSBC Trinkaus & Burkhardt 7.300 12/27/2019 EUR 48.950 HSBC Trinkaus & Burkhardt 5.000 12/27/2019 EUR 53.760 HSBC Trinkaus & Burkhardt 11.500 3/27/2020 EUR 43.710 HSBC Trinkaus & Burkhardt 9.800 3/27/2020 EUR 73.380 HSBC Trinkaus & Burkhardt 10.300 3/27/2020 EUR 45.000 HSBC Trinkaus & Burkhardt 6.900 3/27/2020 EUR 49.760 HSBC Trinkaus & Burkhardt 5.000 3/27/2020 EUR 53.950 HSBC Trinkaus & Burkhardt 9.400 2/28/2020 EUR 45.980 HSBC Trinkaus & Burkhardt 6.600 12/27/2019 EUR 69.740 HSBC Trinkaus & Burkhardt 3.900 12/27/2019 EUR 77.480 HSBC Trinkaus & Burkhardt 9.500 3/27/2020 EUR 71.330 HSBC Trinkaus & Burkhardt 7.700 3/27/2020 EUR 75.270 HSBC Trinkaus & Burkhardt 9.200 3/27/2020 EUR 68.750 HSBC Trinkaus & Burkhardt 6.500 6/26/2020 EUR 74.160 HSBC Trinkaus & Burkhardt 6.600 2/28/2020 EUR 74.220 HSBC Trinkaus & Burkhardt 7.300 12/27/2019 EUR 61.190 HSBC Trinkaus & Burkhardt 4.100 12/27/2019 EUR 69.790 HSBC Trinkaus & Burkhardt 5.400 12/27/2019 EUR 71.790 DZ Bank AG Deutsche Zentr 6.750 12/27/2019 EUR 59.960 DZ Bank AG Deutsche Zentr 11.250 12/27/2019 EUR 44.580 DZ Bank AG Deutsche Zentr 5.250 12/27/2019 EUR 72.390 Vontobel Financial Produc 5.750 11/27/2020 EUR 70.930 UBS AG/London 7.000 5/21/2020 EUR 73.450 DZ Bank AG Deutsche Zentr 14.500 12/27/2019 EUR 70.110 DZ Bank AG Deutsche Zentr 8.250 12/27/2019 EUR 67.870 Vontobel Financial Produc 10.500 1/3/2020 EUR 73.780 Vontobel Financial Produc 15.500 1/3/2020 EUR 65.370 Vontobel Financial Produc 17.650 12/17/2019 EUR 74.480 Vontobel Financial Produc 11.500 1/3/2020 EUR 71.580 Vontobel Financial Produc 13.000 1/3/2020 EUR 69.550 Societe Generale Effekten 6.507 12/20/2019 EUR 74.630 Societe Generale Effekten 7.288 12/20/2019 EUR 72.780 Societe Generale Effekten 8.849 12/20/2019 EUR 69.300 Societe Generale Effekten 9.890 12/20/2019 EUR 68.160 Societe Generale Effekten 10.671 12/20/2019 EUR 66.600 Societe Generale Effekten 13.534 12/20/2019 EUR 62.810 Societe Generale Effekten 23.164 12/20/2019 EUR 54.150 Societe Generale Effekten 24.205 12/20/2019 EUR 53.310 Societe Generale Effekten 24.986 12/20/2019 EUR 52.460 Societe Generale Effekten 29.411 12/20/2019 EUR 54.870 Vontobel Financial Produc 16.000 3/13/2020 EUR 64.830 Vontobel Financial Produc 16.000 3/13/2020 EUR 71.220 UniCredit Bank AG 6.400 5/11/2020 EUR 75.730 Leonteq Securities AG/Gue 18.400 4/8/2020 USD 68.250 Leonteq Securities AG/Gue 15.600 4/8/2020 EUR 67.450 Vontobel Financial Produc 16.000 6/26/2020 EUR 72.310 Vontobel Financial Produc 5.000 6/25/2020 EUR 51.260 Vontobel Financial Produc 13.000 6/26/2020 EUR 65.580 Vontobel Financial Produc 6.550 6/26/2020 EUR 60.350 Vontobel Financial Produc 4.500 3/27/2020 EUR 73.800 Vontobel Financial Produc 5.500 3/27/2020 EUR 71.820 Vontobel Financial Produc 7.500 3/27/2020 EUR 68.210 Vontobel Financial Produc 6.500 3/27/2020 EUR 69.950 Vontobel Financial Produc 9.000 3/27/2020 EUR 66.710 Vontobel Financial Produc 11.500 3/27/2020 EUR 63.870 Landesbank Baden-Wuerttem 5.400 7/24/2020 EUR 75.330 Vontobel Financial Produc 10.000 3/27/2020 EUR 65.170 Vontobel Financial Produc 5.500 6/26/2020 EUR 71.550 Vontobel Financial Produc 4.500 6/26/2020 EUR 73.140 Vontobel Financial Produc 7.500 6/26/2020 EUR 68.650 Vontobel Financial Produc 8.500 6/26/2020 EUR 67.340 Vontobel Financial Produc 9.500 6/26/2020 EUR 66.130 Vontobel Financial Produc 6.500 6/26/2020 EUR 70.050 Vontobel Financial Produc 10.500 6/26/2020 EUR 64.990 Vontobel Financial Produc 11.500 6/26/2020 EUR 63.940 Vontobel Financial Produc 16.000 3/27/2020 EUR 70.330 BNP Paribas Emissions- un 10.000 3/26/2020 EUR 75.390 BNP Paribas Emissions- un 14.000 3/26/2020 EUR 70.920 BNP Paribas Emissions- un 12.000 9/24/2020 EUR 73.070 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 72.670 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 70.400 BNP Paribas Emissions- un 21.000 12/30/2019 EUR 63.540 BNP Paribas Emissions- un 10.000 3/26/2020 EUR 73.770 BNP Paribas Emissions- un 14.000 3/26/2020 EUR 69.470 BNP Paribas Emissions- un 17.000 3/26/2020 EUR 67.410 BNP Paribas Emissions- un 19.000 12/30/2019 EUR 55.120 BNP Paribas Emissions- un 8.000 3/26/2020 EUR 70.490 BNP Paribas Emissions- un 7.000 9/24/2020 EUR 71.610 BNP Paribas Emissions- un 8.500 9/24/2020 EUR 69.200 BNP Paribas Emissions- un 10.000 9/24/2020 EUR 67.090 BNP Paribas Emissions- un 7.000 12/24/2020 EUR 72.920 BNP Paribas Emissions- un 11.000 12/24/2020 EUR 67.470 BNP Paribas Emissions- un 22.000 12/30/2019 EUR 69.370 BNP Paribas Emissions- un 18.000 3/26/2020 EUR 73.380 BNP Paribas Emissions- un 13.000 12/30/2019 EUR 73.110 BNP Paribas Emissions- un 16.000 12/30/2019 EUR 69.660 BNP Paribas Emissions- un 21.000 12/30/2019 EUR 73.990 BNP Paribas Emissions- un 11.000 9/24/2020 EUR 74.610 BNP Paribas Emissions- un 13.000 12/24/2020 EUR 73.600 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 73.030 BNP Paribas Emissions- un 15.000 12/30/2019 EUR 74.680 BNP Paribas Emissions- un 17.000 3/26/2020 EUR 76.910 BNP Paribas Emissions- un 17.000 12/30/2019 EUR 58.870 BNP Paribas Emissions- un 9.000 9/24/2020 EUR 70.210 BNP Paribas Emissions- un 7.500 12/24/2020 EUR 72.640 BNP Paribas Emissions- un 11.000 12/24/2020 EUR 68.580 Vontobel Financial Produc 11.000 6/26/2020 EUR 71.460 Vontobel Financial Produc 9.500 9/25/2020 EUR 72.970 Vontobel Financial Produc 6.500 9/25/2020 EUR 67.000 Vontobel Financial Produc 5.000 6/25/2020 EUR 69.180 BNP Paribas Emissions- un 18.000 3/26/2020 EUR 73.180 Landesbank Hessen-Thuerin 6.200 7/24/2020 EUR 77.980 Landesbank Hessen-Thuerin 6.400 8/18/2020 EUR 61.810 Landesbank Hessen-Thuerin 9.500 5/15/2020 EUR 33.810 UniCredit Bank AG 3.800 7/23/2020 EUR 26.320 Landesbank Hessen-Thuerin 8.000 11/17/2020 EUR 65.960 Rosselkhozbank JSC 8.100 7/11/2025 RUB 89.000 Rosselkhozbank JSC 8.100 7/14/2025 RUB 70.020 DekaBank Deutsche Girozen 2.500 7/29/2020 EUR 72.730 BNP Paribas Emissions- un 8.500 12/30/2019 EUR 51.220 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 49.150 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 55.560 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 52.920 BNP Paribas Emissions- un 4.500 12/30/2019 EUR 64.890 BNP Paribas Emissions- un 4.500 12/30/2019 EUR 69.630 BNP Paribas Emissions- un 5.000 12/30/2019 EUR 66.440 BNP Paribas Emissions- un 5.500 12/30/2019 EUR 65.460 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 71.530 BNP Paribas Emissions- un 9.000 12/30/2019 EUR 67.700 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 65.140 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 62.780 BNP Paribas Emissions- un 7.000 12/30/2019 EUR 61.780 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 50.380 BNP Paribas Emissions- un 11.000 12/30/2019 EUR 48.240 BNP Paribas Emissions- un 5.500 12/30/2019 EUR 71.050 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 61.470 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 58.890 BNP Paribas Emissions- un 4.000 12/30/2019 EUR 59.950 BNP Paribas Emissions- un 7.500 12/30/2019 EUR 74.790 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 70.720 Vontobel Financial Produc 9.000 6/5/2020 EUR 51.010 UniCredit Bank AG 4.000 6/7/2022 EUR 61.150 Raiffeisen Schweiz Genoss 5.200 12/1/2020 CHF 59.160 EFG International Finance 10.900 5/29/2020 USD 75.500 Leonteq Securities AG 7.400 11/25/2020 CHF 51.440 Raiffeisen Centrobank AG 5.500 6/30/2020 EUR 70.810 Leonteq Securities AG 6.200 6/8/2021 CHF 74.240 Deutsche Bank AG 15.000 12/24/2019 EUR 51.580 Deutsche Bank AG 15.000 12/24/2019 EUR 53.900 Deutsche Bank AG 15.000 12/24/2019 EUR 74.100 Deutsche Bank AG 15.000 12/24/2019 EUR 65.300 Deutsche Bank AG 15.000 12/24/2019 EUR 50.900 Deutsche Bank AG 15.000 12/24/2019 EUR 49.180 UBS AG/London 7.000 6/2/2020 CHF 58.250 Leonteq Securities AG/Gue 8.000 12/27/2019 CHF 73.060 UniCredit Bank AG 3.850 6/28/2022 EUR 64.740 Raiffeisen Centrobank AG 8.226 6/23/2020 EUR 68.620 Raiffeisen Centrobank AG 10.775 12/27/2019 EUR 68.690 Raiffeisen Centrobank AG 7.258 6/23/2020 EUR 70.880 Raiffeisen Centrobank AG 9.507 12/27/2019 EUR 71.000 Raiffeisen Centrobank AG 6.338 12/27/2019 EUR 71.110 Credit Suisse AG/Nassau 7.250 6/8/2020 EUR 69.740 UniCredit Bank AG 3.800 6/28/2022 EUR 63.830 Natixis SA 3.150 6/9/2021 USD 61.322 Landesbank Baden-Wuerttem 5.000 2/28/2020 EUR 54.180 Landesbank Baden-Wuerttem 5.300 2/28/2020 EUR 58.600 Landesbank Baden-Wuerttem 4.500 2/28/2020 EUR 70.250 Landesbank Hessen-Thuerin 3.500 7/6/2022 EUR 72.770 Raiffeisen Schweiz Genoss 4.800 12/8/2020 CHF 58.430 Leonteq Securities AG 5.200 6/11/2020 CHF 57.910 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 49.520 UBS AG/London 21.300 1/2/2020 EUR 53.930 UBS AG/London 13.900 1/2/2020 EUR 61.870 UBS AG/London 21.700 1/2/2020 EUR 59.920 UBS AG/London 11.100 1/2/2020 EUR 74.000 UBS AG/London 9.400 1/2/2020 EUR 67.540 UBS AG/London 14.500 1/2/2020 EUR 39.210 UBS AG/London 11.200 1/2/2020 EUR 63.700 UBS AG/London 9.800 1/2/2020 EUR 67.740 UBS AG/London 19.800 1/2/2020 EUR 59.000 UBS AG/London 21.400 1/2/2020 EUR 68.340 UBS AG/London 19.000 1/2/2020 EUR 62.860 UBS AG/London 19.600 1/2/2020 EUR 68.690 HSBC Trinkaus & Burkhardt 12.500 3/27/2020 EUR 41.110 HSBC Trinkaus & Burkhardt 6.900 3/27/2020 EUR 47.700 HSBC Trinkaus & Burkhardt 9.200 2/28/2020 EUR 44.180 Vontobel Financial Produc 10.500 1/3/2020 EUR 73.440 Vontobel Financial Produc 14.000 1/3/2020 EUR 66.960 Vontobel Financial Produc 17.500 1/3/2020 EUR 68.210 Vontobel Financial Produc 10.000 1/3/2020 EUR 73.730 Vontobel Financial Produc 15.000 1/3/2020 EUR 65.800 UBS AG/London 10.000 6/12/2020 EUR 73.700 Vontobel Financial Produc 10.500 1/3/2020 EUR 74.170 Vontobel Financial Produc 9.000 1/3/2020 EUR 72.730 HSBC Trinkaus & Burkhardt 10.000 3/27/2020 EUR 73.130 HSBC Trinkaus & Burkhardt 29.800 1/24/2020 EUR 73.820 HSBC Trinkaus & Burkhardt 28.800 1/24/2020 EUR 53.400 HSBC Trinkaus & Burkhardt 29.000 1/24/2020 EUR 59.530 HSBC Trinkaus & Burkhardt 8.800 12/27/2019 EUR 73.710 HSBC Trinkaus & Burkhardt 29.100 1/24/2020 EUR 50.380 HSBC Trinkaus & Burkhardt 8.300 3/27/2020 EUR 75.030 HSBC Trinkaus & Burkhardt 7.600 12/27/2019 EUR 44.910 HSBC Trinkaus & Burkhardt 11.600 12/27/2019 EUR 40.060 HSBC Trinkaus & Burkhardt 7.300 3/27/2020 EUR 45.920 HSBC Trinkaus & Burkhardt 10.600 3/27/2020 EUR 41.970 HSBC Trinkaus & Burkhardt 30.000 1/24/2020 EUR 59.660 UniCredit Bank AG 5.050 1/11/2022 EUR 47.180 HSBC Trinkaus & Burkhardt 1.620 3/27/2020 EUR 75.950 Vontobel Financial Produc 11.500 1/3/2020 EUR 57.550 Vontobel Financial Produc 11.000 1/3/2020 EUR 70.170 Vontobel Financial Produc 6.900 12/16/2019 EUR 69.410 Leonteq Securities AG/Gue 10.200 12/17/2019 EUR 73.960 Leonteq Securities AG/Gue 4.000 12/14/2020 CHF 1.190 HSBC Trinkaus & Burkhardt 4.000 12/30/2019 EUR 70.210 DZ Bank AG Deutsche Zentr 10.250 9/23/2020 EUR 69.620 BNP Paribas Emissions- un 22.000 3/26/2020 EUR 70.880 BNP Paribas Emissions- un 25.000 3/26/2020 EUR 69.780 BNP Paribas Emissions- un 21.000 3/26/2020 EUR 72.220 BNP Paribas Emissions- un 23.000 3/26/2020 EUR 75.020 BNP Paribas Emissions- un 20.000 3/26/2020 EUR 73.710 Landesbank Baden-Wuerttem 7.500 10/23/2020 EUR 74.930 Vontobel Financial Produc 10.000 6/12/2020 EUR 71.680 Vontobel Financial Produc 13.000 6/12/2020 EUR 69.350 Vontobel Financial Produc 13.500 6/26/2020 EUR 70.090 Vontobel Financial Produc 9.500 3/27/2020 EUR 73.060 Vontobel Financial Produc 13.000 3/27/2020 EUR 69.860 Vontobel Financial Produc 11.500 3/27/2020 EUR 71.470 Vontobel Financial Produc 9.500 6/26/2020 EUR 73.780 Vontobel Financial Produc 10.500 6/26/2020 EUR 72.280 Vontobel Financial Produc 12.000 6/26/2020 EUR 71.140 Vontobel Financial Produc 12.500 6/26/2020 EUR 75.090 Vontobel Financial Produc 17.000 6/26/2020 EUR 72.240 Vontobel Financial Produc 19.000 6/25/2020 EUR 73.280 Vontobel Financial Produc 24.000 3/27/2020 EUR 71.220 Raiffeisen Centrobank AG 5.333 3/5/2020 EUR 73.370 DekaBank Deutsche Girozen 3.450 7/31/2020 EUR 57.330 Leonteq Securities AG/Gue 5.000 8/17/2020 CHF 66.410 UBS AG/London 6.300 1/2/2020 EUR 73.680 UBS AG/London 3.800 3/26/2020 EUR 59.000 UBS AG/London 4.000 1/2/2020 EUR 66.650 Leonteq Securities AG/Gue 10.600 2/17/2020 CHF 58.270 Leonteq Securities AG 5.000 2/17/2021 CHF 58.330 UBS AG/London 10.000 8/10/2020 USD 58.910 UBS AG/London 6.000 2/10/2020 EUR 58.100 UBS AG/London 6.500 8/10/2020 CHF 66.300 UBS AG/London 10.000 8/10/2020 CHF 66.750 UBS AG/London 6.500 2/8/2021 EUR 69.200 Raiffeisen Schweiz Genoss 6.000 2/17/2020 CHF 61.060 Zurcher Kantonalbank Fina 6.250 2/13/2020 EUR 66.140 Credit Suisse AG/London 9.500 2/24/2020 USD 67.210 DZ Bank AG Deutsche Zentr 6.750 12/27/2019 EUR 53.850 DZ Bank AG Deutsche Zentr 8.750 12/27/2019 EUR 61.910 DZ Bank AG Deutsche Zentr 5.750 12/27/2019 EUR 72.660 DZ Bank AG Deutsche Zentr 9.000 12/27/2019 EUR 24.940 DZ Bank AG Deutsche Zentr 11.250 12/27/2019 EUR 62.200 Landesbank Hessen-Thuerin 4.000 9/14/2022 EUR 69.690 WEB Windenergie AG 2.250 9/25/2028 EUR 55.010 Leonteq Securities AG/Gue 5.600 8/24/2021 CHF 59.880 UBS AG/London 8.750 8/17/2020 CHF 37.350 UBS AG/London 9.500 8/17/2020 CHF 64.600 UBS AG/London 10.000 8/17/2020 CHF 66.400 UBS AG/London 9.000 8/17/2020 EUR 69.050 UBS AG/London 8.000 8/17/2020 EUR 61.050 UBS AG/London 7.000 8/17/2020 EUR 75.100 UBS AG/London 8.000 8/17/2020 CHF 61.650 Raiffeisen Schweiz Genoss 5.340 8/17/2020 CHF 71.720 DekaBank Deutsche Girozen 3.000 9/11/2020 EUR 65.700 Vontobel Financial Produc 3.840 2/17/2020 EUR 68.960 Leonteq Securities AG 8.000 8/24/2020 CHF 68.450 Raiffeisen Schweiz Genoss 6.500 2/24/2020 CHF 66.820 Raiffeisen Schweiz Genoss 5.250 2/24/2020 CHF 73.020 DZ Bank AG Deutsche Zentr 11.750 3/25/2020 EUR 53.780 Leonteq Securities AG/Gue 8.400 12/18/2019 CHF 21.260 HSBC Trinkaus & Burkhardt 8.600 12/27/2019 EUR 68.590 HSBC Trinkaus & Burkhardt 6.200 6/26/2020 EUR 72.740 UniCredit Bank AG 4.200 1/4/2021 EUR 53.640 Leonteq Securities AG/Gue 7.400 12/22/2020 CHF 73.560 Leonteq Securities AG/Gue 4.000 12/29/2020 CHF 37.650 DZ Bank AG Deutsche Zentr 6.250 3/25/2020 EUR Landesbank Baden-Wuerttem 5.000 8/27/2021 EUR 71.940 UBS AG/London 7.000 10/26/2020 CHF 69.600 UBS AG/London 10.000 4/17/2020 EUR 67.100 UniCredit Bank AG 4.350 10/26/2021 EUR 44.230 Vontobel Financial Produc 8.500 3/27/2020 EUR 73.280 Raiffeisen Schweiz Genoss 6.250 12/18/2019 CHF 20.340 Leonteq Securities AG/Gue 7.000 12/15/2020 EUR 72.340 HSBC Trinkaus & Burkhardt 5.200 6/26/2020 EUR 73.940 HSBC Trinkaus & Burkhardt 9.900 12/27/2019 EUR 68.630 HSBC Trinkaus & Burkhardt 7.000 6/26/2020 EUR 67.900 HSBC Trinkaus & Burkhardt 5.700 6/26/2020 EUR 67.220 Vontobel Financial Produc 10.500 3/13/2020 EUR 71.080 Vontobel Financial Produc 14.500 3/13/2020 EUR 64.470 Vontobel Financial Produc 15.000 3/13/2020 EUR 70.980 BNP Paribas Emissions- un 10.000 3/26/2020 EUR 73.540 BNP Paribas Emissions- un 17.000 3/26/2020 EUR 71.140 BNP Paribas Emissions- un 19.000 6/25/2020 EUR 72.750 Leonteq Securities AG/Gue 5.000 10/13/2020 CHF 68.440 Societe Generale Effekten 3.750 5/24/2021 EUR 50.480 Bayerische Landesbank 3.200 11/20/2020 EUR 57.070 Landesbank Baden-Wuerttem 3.500 12/29/2020 EUR 63.690 Bank Julius Baer & Co Ltd 6.400 2/21/2020 EUR 59.200 BNP Paribas Emissions- un 12.000 3/26/2020 EUR 70.490 Landesbank Hessen-Thuerin 6.000 10/6/2022 EUR 68.510 DZ Bank AG Deutsche Zentr 8.000 2/26/2020 EUR 72.800 DekaBank Deutsche Girozen 2.400 10/9/2020 EUR 63.490 DekaBank Deutsche Girozen 2.900 10/9/2020 EUR 46.650 Landesbank Baden-Wuerttem 3.000 2/28/2020 EUR 63.150 Landesbank Baden-Wuerttem 5.000 2/28/2020 EUR 57.170 Landesbank Baden-Wuerttem 7.500 2/28/2020 EUR 74.920 Landesbank Baden-Wuerttem 5.000 2/28/2020 EUR 73.130 Landesbank Baden-Wuerttem 7.000 2/28/2020 EUR 68.820 UBS AG/London 10.000 2/20/2020 CHF 58.700 Raiffeisen Schweiz Genoss 6.600 4/3/2020 EUR 58.360 UniCredit Bank AG 6.300 10/16/2021 EUR 54.410 UniCredit Bank AG 4.650 4/16/2021 EUR 59.810 Vontobel Financial Produc 17.650 1/22/2020 EUR 38.720 Landesbank Baden-Wuerttem 3.500 7/24/2020 EUR 76.130 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 71.290 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 72.800 Landesbank Baden-Wuerttem 2.500 7/24/2020 EUR 56.970 Landesbank Baden-Wuerttem 7.000 7/24/2020 EUR 46.860 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 74.890 Leonteq Securities AG/Gue 6.250 12/6/2021 CHF 1.780 UBS AG/London 6.800 1/2/2020 EUR 72.370 UBS AG/London 7.200 1/2/2020 EUR 70.330 UBS AG/London 20.700 1/2/2020 EUR 54.780 UBS AG/London 8.500 1/2/2020 EUR 69.990 UBS AG/London 5.600 1/2/2020 EUR 74.970 UBS AG/London 18.700 1/2/2020 EUR 71.540 HSBC Trinkaus & Burkhardt 13.900 12/27/2019 EUR 38.710 HSBC Trinkaus & Burkhardt 4.800 12/27/2019 EUR 51.200 HSBC Trinkaus & Burkhardt 5.000 3/27/2020 EUR 51.490 Leonteq Securities AG 3.600 9/22/2026 CHF 65.620 Raiffeisen Schweiz Genoss 3.000 9/21/2029 CHF 71.750 UniCredit Bank AG 3.500 1/29/2020 EUR 28.910 Leonteq Securities AG 3.900 12/20/2024 CHF 63.210 Raiffeisen Schweiz Genoss 3.200 12/18/2026 CHF 69.320 Leonteq Securities AG 4.000 12/18/2026 CHF 74.210 Raiffeisen Schweiz Genoss 10.000 12/31/2024 CHF 74.450 Credit Suisse AG/London 9.000 1/23/2020 USD 7.860 Raiffeisen Switzerland BV 4.800 11/23/2023 CHF 61.720 Landesbank Baden-Wuerttem 2.550 12/27/2021 EUR 74.720 DZ Bank AG Deutsche Zentr 12.000 6/24/2020 EUR 64.120 Vontobel Financial Produc 9.500 6/26/2020 EUR 60.150 Vontobel Financial Produc 17.000 3/27/2020 EUR 69.050 Leonteq Securities AG/Gue 16.400 12/14/2020 USD 71.550 Leonteq Securities AG/Gue 6.200 2/10/2021 CHF 67.790 UBS AG/London 10.000 8/3/2020 CHF 67.750 Raiffeisen Schweiz Genoss 6.000 2/10/2020 CHF 59.390 Vontobel Financial Produc 4.200 2/3/2020 EUR 57.490 Bayerische Landesbank 3.000 9/11/2020 EUR 74.800 Leonteq Securities AG/Gue 3.400 3/20/2024 CHF 56.930 UBS AG/London 9.500 2/3/2020 CHF 61.650 UBS AG/London 5.750 2/3/2020 CHF 59.200 UBS AG/London 6.000 8/3/2020 CHF 30.750 UBS AG/London 9.000 8/3/2020 EUR 71.450 Landesbank Baden-Wuerttem 5.000 3/27/2020 EUR 69.080 Landesbank Baden-Wuerttem 4.750 3/27/2020 EUR 73.330 Landesbank Baden-Wuerttem 5.200 3/27/2020 EUR 56.910 Bayerische Landesbank 3.300 9/11/2020 EUR 72.030 UniCredit Bank AG 3.600 3/5/2020 EUR 63.820 UniCredit Bank AG 3.750 9/7/2020 EUR 27.650 DZ Bank AG Deutsche Zentr 5.750 9/23/2020 EUR 66.750 DZ Bank AG Deutsche Zentr 4.250 9/23/2020 EUR Landesbank Baden-Wuerttem 4.000 8/27/2021 EUR 73.670 Landesbank Baden-Wuerttem 6.000 8/27/2021 EUR 70.400 Bayerische Landesbank 3.300 10/30/2020 EUR 58.940 Landesbank Baden-Wuerttem 3.000 10/23/2020 EUR 66.030 UniCredit Bank AG 3.120 9/25/2020 EUR 52.340 UniCredit Bank AG 3.900 10/24/2021 EUR 65.040 HSBC Trinkaus & Burkhardt 4.400 9/25/2020 EUR 53.790 HSBC Trinkaus & Burkhardt 6.300 2/28/2020 EUR 47.270 HSBC Trinkaus & Burkhardt 12.300 6/26/2020 EUR 42.170 HSBC Trinkaus & Burkhardt 7.600 6/26/2020 EUR 47.030 UBS AG/London 12.000 6/19/2020 USD 64.770 Leonteq Securities AG/Gue 4.200 6/1/2021 CHF 37.680 Bayerische Landesbank 3.100 10/9/2020 EUR 58.990 Landesbank Hessen-Thuerin 4.000 12/22/2021 EUR 59.840 Bank Julius Baer & Co Ltd 6.250 10/5/2020 CHF 66.700 Leonteq Securities AG/Gue 7.000 4/16/2020 CHF 52.530 Landesbank Baden-Wuerttem 4.500 9/25/2020 EUR 73.220 Landesbank Baden-Wuerttem 6.000 9/25/2020 EUR 70.370 Societe Generale SA 9.000 7/22/2022 USD 47.100 EFG International Finance 6.000 8/3/2020 USD 50.950 EFG International Finance 6.600 8/3/2020 EUR 70.570 getBACK SA 5.900 12/30/2020 PLN UniCredit Bank AG 3.600 8/23/2021 EUR 56.530 Commerzbank AG 4.000 12/30/2019 EUR 71.800 EFG International Finance 7.200 10/5/2020 USD 54.900 HSBC Trinkaus & Burkhardt 10.100 12/27/2019 EUR 73.210 HSBC Trinkaus & Burkhardt 3.360 12/30/2019 EUR 69.060 EFG International Finance 7.000 11/23/2020 CHF 72.460 Landesbank Hessen-Thuerin 5.700 10/27/2022 EUR 57.980 Leonteq Securities AG/Gue 7.600 10/6/2020 CHF 75.300 Landesbank Baden-Wuerttem 3.000 12/29/2020 EUR 73.710 SG Issuer SA 6.800 1/6/2020 USD 59.010 DekaBank Deutsche Girozen 4.150 4/30/2020 EUR 70.420 HSBC Trinkaus & Burkhardt 8.700 9/25/2020 EUR 69.150 HSBC Trinkaus & Burkhardt 7.300 6/26/2020 EUR 71.930 HSBC Trinkaus & Burkhardt 10.000 1/24/2020 EUR 69.690 Landesbank Hessen-Thuerin 4.000 8/18/2021 EUR 44.260 UniCredit Bank AG 4.300 8/29/2020 EUR 73.640 Zurcher Kantonalbank Fina 6.250 8/24/2020 CHF 74.810 Bayerische Landesbank 2.700 9/18/2020 EUR 60.040 EFG International Finance 5.800 8/31/2020 EUR 69.950 DekaBank Deutsche Girozen 2.000 9/18/2020 EUR 57.770 UniCredit Bank AG 4.300 8/24/2021 EUR 72.310 Leonteq Securities AG/Gue 5.000 8/25/2020 CHF 68.890 Zurcher Kantonalbank Fina 12.250 2/27/2020 USD 70.710 BNP Paribas Emissions- un 14.000 3/26/2020 EUR 74.060 HSBC Trinkaus & Burkhardt 9.800 1/24/2020 EUR 45.440 Vontobel Financial Produc 6.000 1/3/2020 EUR 57.660 Vontobel Financial Produc 7.000 1/3/2020 EUR 75.130 Vontobel Financial Produc 10.500 3/27/2020 EUR 69.630 DZ Bank AG Deutsche Zentr 6.750 12/27/2019 EUR 58.960 DZ Bank AG Deutsche Zentr 4.750 6/24/2020 EUR 63.210 DZ Bank AG Deutsche Zentr 6.000 6/24/2020 EUR 73.920 Vontobel Financial Produc 7.500 3/27/2020 EUR 67.320 Vontobel Financial Produc 9.250 3/26/2020 EUR 59.280 DZ Bank AG Deutsche Zentr 7.500 6/24/2020 EUR 64.640 DZ Bank AG Deutsche Zentr 8.750 6/24/2020 EUR 61.790 Commerzbank AG 11.500 3/27/2020 EUR 72.050 Commerzbank AG 7.250 3/27/2020 EUR 71.650 DZ Bank AG Deutsche Zentr 8.500 6/24/2020 EUR 75.340 DZ Bank AG Deutsche Zentr 11.000 6/24/2020 EUR 74.760 Commerzbank AG 6.000 3/27/2020 EUR 69.220 Commerzbank AG 8.000 3/27/2020 EUR 65.700 Leonteq Securities AG/Gue 5.000 12/27/2019 EUR 58.880 HSBC Trinkaus & Burkhardt 7.400 3/27/2020 EUR 73.020 HSBC Trinkaus & Burkhardt 8.800 7/24/2020 EUR 69.250 Leonteq Securities AG/Gue 5.400 6/30/2020 CHF 61.870 BNP Paribas Emissions- un 8.000 12/30/2019 EUR 61.230 Luzerner Kantonalbank AG 10.000 8/28/2020 CHF 72.780 Landesbank Baden-Wuerttem 2.900 10/23/2020 EUR 71.480 Landesbank Hessen-Thuerin 7.000 1/9/2023 EUR 51.120 Leonteq Securities AG 15.000 5/15/2020 CHF 40.600 Leonteq Securities AG/Gue 4.900 2/16/2021 CHF 49.480 EFG International Finance 5.500 9/21/2020 USD 53.060 EFG International Finance 8.000 11/23/2020 EUR 50.150 EFG International Finance 7.800 11/24/2020 USD 70.130 Credit Suisse AG/London 8.500 2/26/2020 CHF 60.980 UniCredit Bank AG 4.500 11/12/2022 EUR 63.860 UniCredit Bank AG 3.800 10/24/2021 EUR 64.940 UBS AG/London 7.000 3/27/2020 CHF 61.550 HSBC Trinkaus & Burkhardt 7.200 12/27/2019 EUR 67.880 HSBC Trinkaus & Burkhardt 5.100 6/26/2020 EUR 51.670 HSBC Trinkaus & Burkhardt 3.300 6/26/2020 EUR 56.940 HSBC Trinkaus & Burkhardt 8.800 9/25/2020 EUR 46.030 HSBC Trinkaus & Burkhardt 3.400 1/24/2020 EUR 53.640 HSBC Trinkaus & Burkhardt 10.400 6/26/2020 EUR 43.790 Leonteq Securities AG/Gue 8.100 4/6/2020 CHF 64.920 Landesbank Hessen-Thuerin 3.000 8/6/2021 EUR 63.200 getBACK SA 5.700 4/30/2021 PLN Leonteq Securities AG/Gue 2.750 9/15/2022 CHF 40.150 Raiffeisen Schweiz Genoss 3.000 9/22/2020 CHF 15.390 Raiffeisen Schweiz Genoss 2.700 9/22/2026 CHF 59.800 Leonteq Securities AG/Gue 6.000 4/2/2020 CHF 72.620 HSBC Trinkaus & Burkhardt 5.600 12/28/2020 EUR 48.720 Landesbank Hessen-Thuerin 5.400 11/24/2022 EUR 70.080 DZ Bank AG Deutsche Zentr 7.750 3/23/2020 EUR Credit Suisse AG/London 13.000 3/27/2020 USD 73.210 Landesbank Hessen-Thuerin 6.000 8/4/2022 EUR 67.690 HSBC Trinkaus & Burkhardt 7.200 9/25/2020 EUR 71.330 Raiffeisen Schweiz Genoss 5.000 1/10/2020 EUR 73.470 Leonteq Securities AG/Gue 6.600 6/30/2020 CHF 74.440 Vontobel Financial Produc 12.000 3/27/2020 EUR 61.400 Vontobel Financial Produc 27.000 6/26/2020 EUR 63.500 DZ Bank AG Deutsche Zentr 16.000 2/26/2020 EUR 66.290 UBS AG/London 15.000 8/21/2020 CHF 61.690 Credit Suisse AG/London 13.100 7/31/2020 USD 65.130 DZ Bank AG Deutsche Zentr 4.750 6/24/2020 EUR 68.310 Landesbank Baden-Wuerttem 6.500 1/22/2021 EUR 74.750 Vontobel Financial Produc 24.550 3/27/2020 EUR 64.170 Vontobel Financial Produc 7.000 9/25/2020 EUR 67.330 DZ Bank AG Deutsche Zentr 5.000 6/22/2020 EUR 72.790 DZ Bank AG Deutsche Zentr 6.250 6/22/2020 EUR 73.350 DZ Bank AG Deutsche Zentr 7.500 3/25/2020 EUR DZ Bank AG Deutsche Zentr 8.000 9/23/2020 EUR 71.640 Vontobel Financial Produc 23.500 12/31/2019 EUR 63.320 Vontobel Financial Produc 9.500 6/26/2020 EUR 73.950 Vontobel Financial Produc 6.000 6/25/2020 EUR 69.220 DZ Bank AG Deutsche Zentr 6.250 9/21/2020 EUR 74.070 DZ Bank AG Deutsche Zentr 7.000 9/21/2020 EUR 69.320 BNP Paribas Emissions- un 12.000 3/26/2020 EUR 74.080 BNP Paribas Emissions- un 19.000 3/26/2020 EUR 71.680 BNP Paribas Emissions- un 23.000 3/26/2020 EUR 70.590 BNP Paribas Emissions- un 14.000 6/25/2020 EUR 73.880 BNP Paribas Emissions- un 17.000 6/25/2020 EUR 71.720 BNP Paribas Emissions- un 16.000 3/26/2020 EUR 72.640 Vontobel Financial Produc 11.550 12/31/2019 EUR 62.540 Bank Julius Baer & Co Ltd 9.300 3/16/2020 USD 62.400 HSBC Trinkaus & Burkhardt 6.300 3/27/2020 EUR 74.360 HSBC Trinkaus & Burkhardt 5.900 1/24/2020 EUR 67.760 HSBC Trinkaus & Burkhardt 9.200 1/24/2020 EUR 70.540 DZ Bank AG Deutsche Zentr 6.250 12/27/2019 EUR 69.180 UBS AG/London 5.250 6/1/2020 USD 65.050 Landesbank Baden-Wuerttem 6.000 10/23/2020 EUR 74.430 Landesbank Baden-Wuerttem 3.000 10/23/2020 EUR 74.190 BNP Paribas Emissions- un 5.000 12/30/2019 EUR 73.340 Landesbank Baden-Wuerttem 7.000 10/23/2020 EUR 71.540 DekaBank Deutsche Girozen 6.300 7/3/2020 EUR 56.800 Leonteq Securities AG/Gue 7.200 12/8/2020 USD 69.690 Landesbank Baden-Wuerttem 5.000 3/27/2020 EUR 63.530 Landesbank Baden-Wuerttem 7.000 3/27/2020 EUR 59.330 Landesbank Baden-Wuerttem 4.500 3/27/2020 EUR 72.490 Vontobel Financial Produc 15.500 1/3/2020 EUR 68.160 Vontobel Financial Produc 9.000 1/3/2020 EUR 72.480 Vontobel Financial Produc 5.500 1/3/2020 EUR 75.900 Vontobel Financial Produc 7.000 1/3/2020 EUR 71.380 Vontobel Financial Produc 9.000 1/3/2020 EUR 67.400 Goldman Sachs & Co Wertpa 23.000 12/27/2019 EUR 74.830 Goldman Sachs & Co Wertpa 20.000 12/27/2019 EUR 71.600 Vontobel Financial Produc 30.000 3/27/2020 EUR 61.680 Vontobel Financial Produc 20.000 3/27/2020 EUR 67.490 Vontobel Financial Produc 20.000 9/25/2020 EUR 57.210 Vontobel Financial Produc 21.000 9/25/2020 EUR 68.550 Vontobel Financial Produc 22.000 9/25/2020 EUR 67.660 Vontobel Financial Produc 23.000 9/25/2020 EUR 66.860 Vontobel Financial Produc 18.500 9/25/2020 EUR 70.260 Vontobel Financial Produc 25.000 6/26/2020 EUR 65.810 Vontobel Financial Produc 24.500 9/25/2020 EUR 66.530 UBS AG/London 5.500 1/17/2020 CHF 72.900 Raiffeisen Schweiz Genoss 7.840 1/22/2020 CHF 65.930 UniCredit Bank AG 5.900 2/12/2021 EUR 57.640 Deutsche Bank AG 6.200 12/24/2019 EUR 46.380 Deutsche Bank AG 6.200 12/24/2019 EUR 74.680 Deutsche Bank AG 6.200 12/24/2019 EUR 58.310 Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR 47.110 Deutsche Bank AG 5.200 12/24/2019 EUR 48.230 Deutsche Bank AG 5.200 12/24/2019 EUR 60.360 Deutsche Bank AG 5.200 12/24/2019 EUR 48.880 Raiffeisen Schweiz Genoss 6.450 1/22/2020 CHF 71.570 Leonteq Securities AG/Gue 8.000 1/17/2020 CHF 47.000 Raiffeisen Schweiz Genoss 7.000 1/15/2020 CHF 70.420 Landesbank Baden-Wuerttem 3.000 3/26/2021 EUR 74.840 Landesbank Baden-Wuerttem 3.000 3/26/2021 EUR 75.390 Deutsche Bank AG 6.200 12/24/2019 EUR 50.240 Deutsche Bank AG 6.200 12/24/2019 EUR 72.770 Landesbank Hessen-Thuerin 6.500 2/16/2023 EUR 69.700 DekaBank Deutsche Girozen 2.800 2/12/2021 EUR 73.630 Leonteq Securities AG/Gue 7.200 7/29/2020 CHF 72.400 Raiffeisen Schweiz Genoss 6.250 1/29/2020 CHF 72.850 DekaBank Deutsche Girozen 2.900 2/14/2020 EUR 67.810 Leonteq Securities AG/Gue 7.000 1/29/2020 CHF 69.780 Leonteq Securities AG/Gue 8.200 1/29/2020 EUR 57.570 Leonteq Securities AG/Gue 8.000 7/29/2020 EUR 59.860 Credit Suisse AG/London 9.000 3/19/2021 USD 9.549 UBS AG/London 7.500 3/16/2020 EUR 75.600 UBS AG/London 9.750 3/9/2020 EUR 66.600 DZ Bank AG Deutsche Zentr 5.500 6/24/2020 EUR 66.490 DZ Bank AG Deutsche Zentr 8.500 6/24/2020 EUR 63.930 DZ Bank AG Deutsche Zentr 11.000 6/24/2020 EUR 62.140 DekaBank Deutsche Girozen 3.400 1/24/2020 EUR 56.640 Deutsche Bank AG 4.200 12/24/2019 EUR 45.000 Deutsche Bank AG 6.200 12/24/2019 EUR 57.030 Deutsche Bank AG 6.200 12/24/2019 EUR 54.800 Deutsche Bank AG 4.200 12/24/2019 EUR 54.740 Deutsche Bank AG 4.200 12/24/2019 EUR 52.360 Deutsche Bank AG 4.200 12/24/2019 EUR 74.520 Deutsche Bank AG 4.200 12/24/2019 EUR 72.960 Deutsche Bank AG 4.200 12/24/2019 EUR Deutsche Bank AG 4.200 12/24/2019 EUR 58.800 Deutsche Bank AG 4.200 12/24/2019 EUR 56.000 Deutsche Bank AG 4.200 12/24/2019 EUR 75.400 Deutsche Bank AG 6.200 12/24/2019 EUR 67.620 Deutsche Bank AG 4.200 12/24/2019 EUR 74.840 EFG International Finance 7.400 1/11/2021 USD 73.180 EFG International Finance 7.200 1/25/2021 EUR 57.270 Leonteq Securities AG/Gue 10.000 3/16/2020 USD 57.940 Corner Banca SA 7.400 7/22/2020 CHF 64.040 Leonteq Securities AG/Gue 6.600 1/22/2020 EUR 70.780 Raiffeisen Centrobank AG 9.940 12/27/2019 EUR 57.690 Raiffeisen Centrobank AG 6.026 12/27/2019 EUR 55.030 UniCredit Bank AG 3.250 2/27/2022 EUR 61.510 Leonteq Securities AG/Gue 6.800 3/16/2020 CHF 70.500 Landesbank Hessen-Thuerin 4.000 8/26/2020 EUR 55.000 Raiffeisen Schweiz Genoss 7.000 9/23/2020 EUR 60.100 Raiffeisen Centrobank AG 8.395 12/27/2019 EUR 57.020 Raiffeisen Centrobank AG 5.665 12/27/2019 EUR 55.780 Zurcher Kantonalbank Fina 5.750 1/30/2020 CHF 18.390 Federal Grid Co Unified E 5.300 9/7/2048 RUB 63.150 UBS AG/London 12.500 3/16/2020 CHF 39.400 EFG International Finance 7.400 3/29/2021 EUR 61.900 Zurcher Kantonalbank Fina 7.150 3/19/2020 CHF 19.310 Leonteq Securities AG/Gue 9.000 3/16/2020 CHF 52.670 Landesbank Hessen-Thuerin 4.000 8/26/2020 EUR 63.200 VTB Bank PJSC 3.000 9/1/2044 RUB 100.000 Commerzbank AG 18.250 12/31/2019 EUR 69.610 Commerzbank AG 16.750 3/27/2020 EUR 70.950 Commerzbank AG 16.000 4/24/2020 EUR 71.790 Vontobel Financial Produc 14.000 6/26/2020 EUR 72.200 Vontobel Financial Produc 15.000 6/26/2020 EUR 70.890 Vontobel Financial Produc 16.000 3/27/2020 EUR 71.350 Vontobel Financial Produc 19.500 3/27/2020 EUR 69.040 Vontobel Financial Produc 16.500 6/25/2020 EUR 71.970 Vontobel Financial Produc 15.500 3/27/2020 EUR 72.960 Vontobel Financial Produc 17.000 3/27/2020 EUR 71.280 Vontobel Financial Produc 18.500 3/27/2020 EUR 69.690 Vontobel Financial Produc 19.500 6/26/2020 EUR 68.820 Vontobel Financial Produc 18.500 6/26/2020 EUR 69.920 Vontobel Financial Produc 17.000 6/26/2020 EUR 70.830 Vontobel Financial Produc 16.000 6/26/2020 EUR 72.070 Vontobel Financial Produc 21.000 6/26/2020 EUR 68.060 Vontobel Financial Produc 13.000 3/27/2020 EUR 74.100 Vontobel Financial Produc 15.000 3/27/2020 EUR 70.420 Vontobel Financial Produc 12.000 3/27/2020 EUR 73.750 Vontobel Financial Produc 12.500 6/26/2020 EUR 73.340 Vontobel Financial Produc 13.500 3/27/2020 EUR 72.030 EFG International Finance 7.200 2/8/2021 EUR 75.690 DekaBank Deutsche Girozen 4.250 10/9/2020 EUR 55.470 Federal Grid Co Unified E 5.000 6/30/2048 RUB 66.930 Leonteq Securities AG/Gue 8.000 8/5/2020 CHF 73.120 EFG International Finance 8.600 2/7/2020 USD 48.960 DekaBank Deutsche Girozen 6.300 10/9/2020 EUR 66.280 Leonteq Securities AG/Gue 9.000 8/5/2020 USD 73.550 Podkarpacki Bank Spoldzie 5.790 3/31/2025 PLN 38.000 Business-Consulting OAO 8.500 3/26/2020 RUB 60.060 UniCredit Bank AG 3.500 12/19/2019 EUR 29.930 Raiffeisen Schweiz Genoss 6.070 1/29/2020 CHF 74.930 Landesbank Baden-Wuerttem 2.000 7/24/2020 EUR 73.860 UniCredit Bank AG 4.200 2/19/2022 EUR 65.630 UniCredit Bank AG 12.900 1/3/2020 EUR 60.930 Landesbank Baden-Wuerttem 3.500 7/24/2020 EUR 62.700 Landesbank Baden-Wuerttem 3.500 7/24/2020 EUR 57.260 Landesbank Baden-Wuerttem 2.000 7/24/2020 EUR 61.490 Landesbank Baden-Wuerttem 3.500 7/24/2020 EUR 55.750 Landesbank Baden-Wuerttem 2.000 7/24/2020 EUR 67.940 Landesbank Baden-Wuerttem 4.000 7/24/2020 EUR 24.770 Landesbank Hessen-Thuerin 4.100 7/13/2020 EUR 75.000 BNP Paribas Emissions- un 8.500 12/30/2019 EUR 71.090 BNP Paribas Emissions- un 9.500 12/30/2019 EUR 66.500 BNP Paribas Emissions- un 6.500 12/30/2019 EUR 54.310 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 50.240 BNP Paribas Emissions- un 12.000 12/30/2019 EUR 72.580 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 59.410 DekaBank Deutsche Girozen 3.600 12/20/2019 EUR 57.740 Vontobel Financial Produc 16.500 3/13/2020 EUR 70.240 Vontobel Financial Produc 16.500 3/13/2020 EUR 60.080 Vontobel Financial Produc 14.500 6/12/2020 EUR 68.130 Fonciere Volta SA 4.500 7/30/2020 EUR 2.360 UniCredit Bank AG 4.750 3/26/2021 EUR 72.820 Deutsche Bank AG 7.200 12/24/2019 EUR 48.000 Deutsche Bank AG 7.200 12/24/2019 EUR 58.830 Deutsche Bank AG 7.200 12/24/2019 EUR 73.050 Deutsche Bank AG 7.200 12/24/2019 EUR 62.650 Deutsche Bank AG 7.200 12/24/2019 EUR 56.090 Deutsche Bank AG 7.200 12/24/2019 EUR 53.550 Deutsche Bank AG 7.200 12/24/2019 EUR 44.300 Landesbank Baden-Wuerttem 2.000 7/24/2020 EUR 67.340 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 56.860 Landesbank Baden-Wuerttem 3.000 7/24/2020 EUR 65.680 Landesbank Baden-Wuerttem 4.000 7/24/2020 EUR 62.650 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 70.900 UniCredit Bank AG 14.500 1/3/2020 EUR 53.230 Landesbank Baden-Wuerttem 2.000 7/24/2020 EUR 63.310 UniCredit Bank AG 10.900 1/3/2020 EUR 37.150 UniCredit Bank AG 7.800 1/3/2020 EUR 67.030 Landesbank Baden-Wuerttem 3.500 7/24/2020 EUR 61.150 UniCredit Bank AG 14.700 1/3/2020 EUR 34.460 Landesbank Baden-Wuerttem 4.000 7/24/2020 EUR 70.460 Bank Julius Baer & Co Ltd 6.150 1/10/2020 CHF 75.800 UBS AG/London 11.000 6/29/2020 CHF 60.850 UBS AG/London 5.750 6/29/2020 CHF 74.800 UBS AG/London 6.500 6/29/2020 CHF 61.350 UBS AG/London 3.200 3/26/2020 EUR 60.390 UBS AG/London 7.300 1/2/2020 EUR 69.160 Leonteq Securities AG 7.600 7/13/2021 CHF 70.750 Leonteq Securities AG/Gue 6.200 1/13/2021 CHF 68.160 TGC-1 PJSC 5.800 2/14/2022 RUB 70.000 Polski Bank Spoldzielczy 4.790 6/22/2021 PLN 61.000 Credit Suisse AG/London 6.250 11/28/2025 USD 11.627 DZ Bank AG Deutsche Zentr 8.000 9/23/2020 EUR 71.190 Vontobel Financial Produc 20.000 9/25/2020 EUR 54.370 Societe Generale Effekten 24.650 9/18/2020 EUR 73.780 Leonteq Securities AG 12.000 8/28/2020 CHF 52.540 Vontobel Financial Produc 22.000 9/25/2020 EUR 66.680 Societe Generale Effekten 23.702 9/18/2020 EUR 73.910 Societe Generale Effekten 25.598 9/18/2020 EUR 73.670 Societe Generale Effekten 10.036 12/20/2019 EUR 64.540 Vontobel Financial Produc 20.000 9/25/2020 EUR 65.670 Vontobel Financial Produc 13.000 9/25/2020 EUR 50.775 Landesbank Baden-Wuerttem 3.000 4/24/2020 EUR 72.760 Landesbank Baden-Wuerttem 6.500 4/24/2020 EUR 65.440 Landesbank Baden-Wuerttem 6.000 4/24/2020 EUR 69.210 Polski Bank Spoldzielczy 4.790 11/26/2024 PLN 45.000 Landesbank Hessen-Thuerin 4.000 4/20/2022 EUR 63.190 DekaBank Deutsche Girozen 3.000 7/31/2020 EUR 58.710 Landesbank Baden-Wuerttem 3.000 7/24/2020 EUR 68.800 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 75.840 Landesbank Baden-Wuerttem 6.500 7/24/2020 EUR 71.680 Landesbank Baden-Wuerttem 2.000 7/24/2020 EUR 70.870 UniCredit Bank AG 5.200 1/3/2020 EUR 54.010 UniCredit Bank AG 5.000 2/12/2021 EUR 66.070 Deutsche Bank AG 6.200 12/24/2019 EUR 45.000 Deutsche Bank AG 6.200 12/24/2019 EUR 69.900 Deutsche Bank AG 6.200 12/24/2019 EUR 71.500 Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR 49.060 Deutsche Bank AG 6.200 12/24/2019 EUR 45.300 Deutsche Bank AG 5.200 12/24/2019 EUR 46.000 Deutsche Bank AG 5.200 12/24/2019 EUR 50.210 Deutsche Bank AG 5.200 12/24/2019 EUR 48.200 DekaBank Deutsche Girozen 7.050 10/9/2020 EUR 51.800 Leonteq Securities AG/Gue 7.000 2/5/2020 CHF 18.220 Landesbank Baden-Wuerttem 2.000 7/24/2020 EUR 70.300 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 61.930 Landesbank Baden-Wuerttem 3.000 7/24/2020 EUR 74.830 Landesbank Baden-Wuerttem 6.500 7/24/2020 EUR 65.800 Deutsche Bank AG 6.200 12/24/2019 EUR 46.000 Deutsche Bank AG 6.200 12/24/2019 EUR 48.230 Deutsche Bank AG 6.200 12/24/2019 EUR 67.630 Deutsche Bank AG 6.200 12/24/2019 EUR 60.350 Deutsche Bank AG 5.200 12/24/2019 EUR 72.990 Deutsche Bank AG 5.200 12/24/2019 EUR 75.000 Deutsche Bank AG 5.200 12/24/2019 EUR 58.280 Deutsche Bank AG 5.200 12/24/2019 EUR 50.500 DekaBank Deutsche Girozen 4.250 4/14/2022 EUR 73.470 UBS AG/London 6.750 1/17/2020 CHF 67.950 Zurcher Kantonalbank Fina 3.500 1/23/2020 CHF 17.670 Deutsche Bank AG 6.200 12/24/2019 EUR 72.300 Deutsche Bank AG 6.200 12/24/2019 EUR 43.300 Deutsche Bank AG 6.200 12/24/2019 EUR 73.020 Deutsche Bank AG 6.200 12/24/2019 EUR 73.600 Deutsche Bank AG 6.200 12/24/2019 EUR 56.370 Deutsche Bank AG 6.200 12/24/2019 EUR 50.500 Leonteq Securities AG/Gue 5.500 1/30/2020 CHF 62.900 UBS AG/London 6.250 1/17/2020 CHF 41.000 Raiffeisen Schweiz Genoss 7.500 2/5/2020 CHF 70.840 Landesbank Baden-Wuerttem 3.500 7/24/2020 EUR 60.670 Landesbank Baden-Wuerttem 4.000 7/24/2020 EUR 64.900 Landesbank Baden-Wuerttem 5.500 7/24/2020 EUR 67.780 Landesbank Baden-Wuerttem 2.500 7/24/2020 EUR 65.060 Landesbank Baden-Wuerttem 4.500 7/24/2020 EUR 58.570 Vontobel Financial Produc 5.250 2/21/2020 EUR 62.310 Landesbank Hessen-Thuerin 2.750 10/23/2020 EUR 75.800 Leonteq Securities AG/Gue 10.000 2/5/2020 EUR 60.440 Erste Group Bank AG 6.250 3/29/2023 EUR 70.150 UniCredit Bank AG 6.300 3/26/2021 EUR 52.880 Deutsche Bank AG 7.200 12/24/2019 EUR 56.100 Deutsche Bank AG 7.200 12/24/2019 EUR 53.610 Deutsche Bank AG 7.200 12/24/2019 EUR 67.660 Deutsche Bank AG 7.200 12/24/2019 EUR 47.200 UniCredit Bank AG 4.250 3/29/2021 EUR 62.320 UniCredit Bank AG 3.630 3/12/2020 EUR 59.030 UBS AG/London 12.000 3/9/2020 CHF 40.950 UBS AG/London 11.250 3/9/2020 EUR 62.550 Deutsche Bank AG 4.200 12/24/2019 EUR 46.800 Deutsche Bank AG 4.200 12/24/2019 EUR 43.200 Deutsche Bank AG 6.200 12/24/2019 EUR 52.420 Deutsche Bank AG 6.200 12/24/2019 EUR 75.170 Deutsche Bank AG 4.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR 58.670 Deutsche Bank AG 6.200 12/24/2019 EUR 56.060 Deutsche Bank AG 4.200 12/24/2019 EUR 53.290 Deutsche Bank AG 6.200 12/24/2019 EUR 75.500 Deutsche Bank AG 4.200 12/24/2019 EUR 67.560 EFG International Finance 7.600 1/11/2021 CHF 69.470 EFG International Finance 8.400 1/10/2020 USD 51.700 UBS AG/London 5.400 1/2/2020 EUR 53.680 EFG International Finance 7.400 1/25/2021 CHF 68.760 Deutsche Bank AG 7.200 12/24/2019 EUR 74.710 UniCredit Bank AG 4.050 3/26/2021 EUR 51.820 UniCredit Bank AG 4.600 3/26/2021 EUR 57.230 Deutsche Bank AG 7.200 12/24/2019 EUR 46.900 Deutsche Bank AG 7.200 12/24/2019 EUR 57.430 Deutsche Bank AG 7.200 12/24/2019 EUR 54.470 Deutsche Bank AG 7.200 12/24/2019 EUR 52.450 Deutsche Bank AG 7.200 12/24/2019 EUR 74.610 Deutsche Bank AG 7.200 12/24/2019 EUR 56.320 Deutsche Bank AG 7.200 12/24/2019 EUR 65.060 Deutsche Bank AG 7.200 12/24/2019 EUR 58.880 Deutsche Bank AG 7.200 12/24/2019 EUR 48.900 UniCredit Bank AG 3.250 3/29/2022 EUR 26.860 UBS AG/London 8.500 3/9/2020 USD 53.650 Leonteq Securities AG/Gue 8.000 7/22/2020 CHF 64.530 Raiffeisen Schweiz Genoss 10.020 1/15/2020 EUR 68.680 Bank Julius Baer & Co Ltd 8.800 1/24/2020 EUR 65.200 DekaBank Deutsche Girozen 2.000 1/22/2021 EUR 69.100 Deutsche Bank AG 4.200 12/24/2019 EUR 47.900 Deutsche Bank AG 6.200 12/24/2019 EUR 48.900 Deutsche Bank AG 4.200 12/24/2019 EUR 60.210 Deutsche Bank AG 6.200 12/24/2019 EUR 60.270 Deutsche Bank AG 4.200 12/24/2019 EUR 57.340 DZ Bank AG Deutsche Zentr 12.000 3/25/2020 EUR 60.490 UniCredit Bank AG 8.000 12/29/2020 EUR 75.150 Vontobel Financial Produc 15.000 6/26/2020 EUR 73.730 Commerzbank AG 11.000 5/22/2020 EUR 71.960 DZ Bank AG Deutsche Zentr 14.500 12/27/2019 EUR 72.710 Landesbank Hessen-Thuerin 5.750 7/12/2024 EUR 71.480 Vontobel Financial Produc 17.500 6/12/2020 EUR 74.450 Vontobel Financial Produc 14.500 6/12/2020 EUR 72.810 Vontobel Financial Produc 15.500 6/12/2020 EUR 71.440 Vontobel Financial Produc 12.500 3/13/2020 EUR 73.490 Commerzbank AG 21.500 1/24/2020 EUR 70.170 Commerzbank AG 23.250 12/31/2019 EUR 68.870 DZ Bank AG Deutsche Zentr 15.750 3/25/2020 EUR 71.870 Societe Generale Effekten 25.373 6/19/2020 EUR 70.440 Societe Generale Effekten 27.444 6/19/2020 EUR 69.520 Societe Generale Effekten 27.934 3/20/2020 EUR 71.120 Societe Generale Effekten 17.902 3/20/2020 EUR 67.660 Societe Generale Effekten 23.301 6/19/2020 EUR 68.770 Societe Generale Effekten 26.984 9/18/2020 EUR 70.410 Leonteq Securities AG/Gue 8.950 3/19/2020 USD 52.530 UniCredit Bank AG 14.000 1/3/2020 EUR 35.690 UniCredit Bank AG 9.800 1/3/2020 EUR 75.250 UniCredit Bank AG 10.400 1/3/2020 EUR 41.420 Landesbank Baden-Wuerttem 5.000 7/24/2020 EUR 51.970 Landesbank Baden-Wuerttem 2.500 7/24/2020 EUR 26.670 UniCredit Bank AG 6.900 1/3/2020 EUR 49.110 UBS AG/London 10.250 12/27/2019 EUR 51.500 UBS AG/London 3.800 1/2/2020 EUR 61.520 VTB Bank PJSC 9.000 9/18/2046 RUB 62.000 BNP Paribas Emissions- un 6.500 12/30/2019 EUR 28.890 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 68.310 BNP Paribas Emissions- un 10.000 12/30/2019 EUR 65.710 Societe Generale SA 12.000 7/8/2021 USD 49.470 Bayerische Landesbank 3.150 7/31/2020 EUR 70.160 Landesbank Baden-Wuerttem 5.000 2/28/2020 EUR 64.000 Landesbank Baden-Wuerttem 4.000 2/28/2020 EUR 56.900 Vontobel Financial Produc 3.850 1/27/2020 EUR 73.220 Leonteq Securities AG/Gue 6.000 1/20/2021 CHF 66.880 UBS AG/London 5.500 1/13/2020 CHF 74.200 UBS AG/London 6.250 7/13/2020 CHF 26.080 UBS AG/London 6.000 1/13/2020 CHF 55.600 UBS AG/London 7.000 1/13/2020 EUR 68.150 UBS AG/London 5.250 7/13/2020 CHF 63.600 Landesbank Hessen-Thuerin 2.750 5/20/2021 EUR 64.700 Deutsche Bank AG 6.200 12/24/2019 EUR 75.240 Deutsche Bank AG 6.200 12/24/2019 EUR 72.940 Deutsche Bank AG 6.200 12/24/2019 EUR 73.500 Deutsche Bank AG 6.200 12/24/2019 EUR 68.900 Deutsche Bank AG 6.200 12/24/2019 EUR 66.200 Deutsche Bank AG 6.200 12/24/2019 EUR 72.550 Deutsche Bank AG 6.200 12/24/2019 EUR 70.420 Deutsche Bank AG 6.200 12/24/2019 EUR 68.860 Deutsche Bank AG 6.200 12/24/2019 EUR 66.950 Deutsche Bank AG 6.200 12/24/2019 EUR 65.150 Deutsche Bank AG 6.200 12/24/2019 EUR 63.430 Deutsche Bank AG 6.200 12/24/2019 EUR 61.810 Deutsche Bank AG 6.200 12/24/2019 EUR 67.700 Deutsche Bank AG 6.200 12/24/2019 EUR 64.600 Deutsche Bank AG 6.200 12/24/2019 EUR 62.800 Deutsche Bank AG 6.200 12/24/2019 EUR 61.100 Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR 64.300 Deutsche Bank AG 6.200 12/24/2019 EUR 65.380 Deutsche Bank AG 6.200 12/24/2019 EUR 61.950 Deutsche Bank AG 6.200 12/24/2019 EUR 58.670 Deutsche Bank AG 6.200 12/24/2019 EUR 53.520 Deutsche Bank AG 6.200 12/24/2019 EUR 74.100 Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR 74.550 Deutsche Bank AG 6.200 12/24/2019 EUR 66.700 Deutsche Bank AG 6.200 12/24/2019 EUR 62.000 Deutsche Bank AG 6.200 12/24/2019 EUR 57.900 Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR 60.700 Deutsche Bank AG 6.200 12/24/2019 EUR 55.300 Deutsche Bank AG 6.200 12/24/2019 EUR 62.100 Deutsche Bank AG 6.200 12/24/2019 EUR 55.900 Deutsche Bank AG 6.200 12/24/2019 EUR 28.400 Deutsche Bank AG 6.200 12/24/2019 EUR Deutsche Bank AG 6.200 12/24/2019 EUR Corner Banca SA 10.600 1/13/2020 CHF 67.430 Raiffeisen Schweiz Genoss 6.800 7/20/2020 CHF 63.480 Raiffeisen Schweiz Genoss 6.500 1/20/2020 CHF 62.780 Bayerische Landesbank 3.550 8/21/2020 EUR 70.570 Deutsche Bank AG 6.200 12/24/2019 EUR 68.100 Landesbank Hessen-Thuerin 3.500 8/17/2022 EUR 71.820 HSBC Trinkaus & Burkhardt 6.900 6/26/2020 EUR 66.170 HSBC Trinkaus & Burkhardt 5.600 6/26/2020 EUR 65.490 HSBC Trinkaus & Burkhardt 5.300 6/26/2020 EUR 66.900 HSBC Trinkaus & Burkhardt 5.800 12/27/2019 EUR 71.490 Credit Suisse AG/London 11.250 5/15/2020 USD 68.730 Vontobel Financial Produc 13.500 3/13/2020 EUR 73.780 Vontobel Financial Produc 18.500 3/13/2020 EUR 60.260 Vontobel Financial Produc 13.000 6/12/2020 EUR 70.710 Commerzbank AG 12.500 12/31/2019 EUR 71.730 Societe Generale Effekten 26.408 6/19/2020 EUR 69.970 Lehman Brothers Treasury 3.000 8/13/2011 EUR 2.571 Lehman Brothers Treasury 6.000 9/20/2011 EUR 2.571 Lehman Brothers Treasury 18.250 10/2/2008 USD 2.571 Lehman Brothers Treasury 3.400 9/21/2009 HKD 2.571 Lehman Brothers Treasury 4.000 10/12/2010 USD 2.571 Lehman Brothers Treasury 4.690 2/19/2017 EUR 2.571 Lehman Brothers Treasury 3.820 10/20/2009 USD 2.571 Lehman Brothers Treasury 4.000 2/28/2010 EUR 2.571 Lehman Brothers Treasury 2.000 5/17/2010 EUR 2.571 Lehman Brothers Treasury 3.630 3/2/2012 EUR 2.571 Lehman Brothers Treasury 0.750 3/29/2012 EUR 2.571 EDOB Abwicklungs AG 7.500 4/1/2012 EUR 1.079 Lehman Brothers Treasury 3.025 1/31/2015 EUR 2.571 Lehman Brothers Treasury 2.000 6/21/2011 EUR 2.571 Lehman Brothers Treasury 4.500 12/30/2010 USD 2.571 Lehman Brothers Treasury 4.500 3/7/2015 EUR 2.571 Lehman Brothers Treasury 2.370 7/15/2013 USD 2.571 Lehman Brothers Treasury 1.950 11/4/2013 EUR 2.571 Lehman Brothers Treasury 4.870 10/8/2013 USD 2.571 HSBC Bank PLC 0.500 6/23/2027 MXN 57.333 Lehman Brothers Treasury 5.220 3/1/2024 EUR 2.571 Heta Asset Resolution AG 5.030 12/31/2023 EUR 1.620 Lehman Brothers Treasury 3.700 6/6/2009 EUR 2.571 Lehman Brothers Treasury 8.280 7/31/2013 GBP 2.571 Lehman Brothers Treasury 7.320 7/31/2013 GBP 2.571 Petromena ASA 9.750 5/24/2016 NOK 0.607 Samaratransneft-Terminal 10.000 3/30/2022 RUB 18.040 Lehman Brothers Treasury 8.600 7/31/2013 GBP 2.571 Lehman Brothers Treasury 7.500 7/31/2013 GBP 2.571 Lehman Brothers Treasury 7.000 7/11/2010 EUR 2.571 Lehman Brothers Treasury 4.150 8/25/2020 EUR 2.571 Lehman Brothers Treasury 6.000 7/28/2010 EUR 2.571 Lehman Brothers Treasury 6.000 7/28/2010 EUR 2.571 Norske Skogindustrier ASA 2.000 12/30/2115 EUR 1.473 Lehman Brothers Treasury 0.500 2/16/2009 EUR 2.571 Norske Skogindustrier ASA 7.000 12/30/2026 EUR 0.049 HSBC Bank PLC 0.500 12/22/2025 BRL 64.287 Lehman Brothers Treasury 4.250 3/13/2021 EUR 2.571 Lehman Brothers Treasury 8.000 4/20/2009 EUR 2.571 Lehman Brothers Treasury 6.000 3/17/2011 EUR 2.571 Lehman Brothers Treasury 3.600 3/19/2018 JPY 2.571 Credit Suisse AG/London 0.500 1/8/2026 BRL 64.085 Lehman Brothers Treasury 3.000 8/8/2017 EUR 2.571 Solarwatt GmbH 7.000 11/1/2015 EUR 15.500 SG Issuer SA 2.700 11/28/2034 ZAR 39.963 Lehman Brothers Treasury 6.000 6/21/2011 EUR 2.571 Lehman Brothers Treasury 4.100 5/20/2009 USD 2.571 Lehman Brothers Treasury 9.000 3/17/2009 GBP 2.571 Lehman Brothers Treasury 7.000 11/28/2008 CHF 2.571 Lehman Brothers Treasury 8.000 5/22/2009 USD 2.571 RGS Nedvizhimost OOO 12.000 10/18/2017 RUB 0.335 Lehman Brothers Treasury 4.000 4/24/2009 USD 2.571 Lehman Brothers Treasury 3.850 4/24/2009 USD 2.571 Lehman Brothers Treasury 8.000 3/19/2012 USD 2.571 KPNQwest NV 8.875 2/1/2008 EUR 0.634 Lehman Brothers Treasury 6.720 12/29/2008 EUR 2.571 Lehman Brothers Treasury 7.750 2/21/2016 EUR 2.571 Lehman Brothers Treasury 5.120 4/30/2027 EUR 2.571 Lehman Brothers Treasury 6.600 2/9/2009 EUR 2.571 Lehman Brothers Treasury 7.060 12/29/2008 EUR 2.571 Lehman Brothers Treasury 7.625 7/22/2011 HKD 2.571 Societe Generale SA 0.500 5/22/2024 MXN 72.599 Lehman Brothers Treasury 4.100 8/23/2010 USD 2.571 Lehman Brothers Treasury 3.500 12/20/2027 USD 2.571 Lehman Brothers Treasury 4.000 1/4/2011 USD 2.571 Lehman Brothers Treasury 8.800 12/27/2009 EUR 2.571 Lehman Brothers Treasury 0.500 12/20/2017 AUD 2.571 Lehman Brothers Treasury 1.000 2/26/2010 USD 2.571 Lehman Brothers Treasury 6.000 3/18/2015 USD 3.400 Lehman Brothers Treasury 2.400 6/20/2011 JPY 2.571 Rio Forte Investments SA 4.750 11/10/2015 EUR 6.000 Lehman Brothers Treasury 4.050 9/16/2008 EUR 2.571 Lehman Brothers Treasury 3.000 9/12/2036 JPY 3.750 Lehman Brothers Treasury 4.820 12/18/2036 EUR 2.571 Lehman Brothers Treasury 13.000 12/14/2012 USD 2.571 Heta Asset Resolution AG 5.270 12/31/2023 EUR 1.620 Lehman Brothers Treasury 2.300 6/27/2013 USD 2.571 Investtorgstroi OOO 11.500 1/19/2023 RUB 60.090 Lehman Brothers Treasury 12.000 7/13/2037 JPY 2.571 Lehman Brothers Treasury 8.875 1/28/2011 HKD 3.400 Lehman Brothers Treasury 8.000 12/27/2032 JPY 2.571 Lehman Brothers Treasury 1.500 2/8/2012 CHF 2.571 Lehman Brothers Treasury 8.050 12/20/2010 HKD 2.571 Lehman Brothers Treasury 6.700 4/21/2011 USD 2.571 Lehman Brothers Treasury 11.250 12/31/2008 USD 2.571 Lehman Brothers Treasury 4.300 6/4/2012 USD 2.571 Lehman Brothers Treasury 4.000 6/5/2011 USD 2.571 Lehman Brothers Treasury 5.200 11/9/2011 EUR 3.400 Lehman Brothers Treasury 7.600 5/21/2013 USD 2.571 Lehman Brothers Treasury 0.500 6/2/2020 EUR 2.571 Lehman Brothers Treasury 11.000 7/4/2011 USD 2.571 Lehman Brothers Treasury 11.000 7/4/2011 CHF 2.571 Lehman Brothers Treasury 13.150 10/30/2008 USD 2.571 Lehman Brothers Treasury 6.000 8/7/2013 EUR 2.571 Lehman Brothers Treasury 13.432 1/8/2009 ILS 2.571 Lehman Brothers Treasury 6.250 9/5/2011 EUR 2.571 Lehman Brothers Treasury 2.500 8/15/2012 CHF 2.571 Lehman Brothers Treasury 3.100 6/4/2010 USD 2.571 Lehman Brothers Treasury 0.500 7/2/2020 EUR 2.571 Lehman Brothers Treasury 16.000 12/26/2008 USD 2.571 Lehman Brothers Treasury 2.300 6/6/2013 USD 2.571 Lehman Brothers Treasury 7.500 5/30/2010 AUD 2.571 Lehman Brothers Treasury 1.460 2/19/2012 JPY 3.750 Lehman Brothers Treasury 7.750 1/3/2012 AUD 2.571 Lehman Brothers Treasury 16.800 8/21/2009 USD 2.571 Lehman Brothers Treasury 14.100 11/12/2008 USD 2.571 Lehman Brothers Treasury 7.250 7/8/2014 EUR 2.571 Lehman Brothers Treasury 7.000 2/15/2010 CHF 2.571 Lehman Brothers Treasury 13.000 2/16/2009 CHF 2.571 Lehman Brothers Treasury 10.000 2/16/2009 CHF 2.571 Lehman Brothers Treasury 11.000 2/16/2009 CHF 2.571 Lehman Brothers Treasury 6.300 12/21/2018 USD 2.571 Lehman Brothers Treasury 5.375 2/4/2014 USD 2.571 Lehman Brothers Treasury 0.500 12/20/2017 AUD 2.571 Lehman Brothers Treasury 0.500 12/20/2017 AUD 2.571 Lehman Brothers Treasury 0.500 12/20/2017 AUD 2.571 Lehman Brothers Treasury 9.300 12/21/2010 EUR 2.571 Lehman Brothers Treasury 0.500 12/20/2017 AUD 3.400 Lehman Brothers Treasury 8.000 12/31/2010 USD 2.571 Lehman Brothers Treasury 0.500 12/20/2017 USD 2.571 Lehman Brothers Treasury 0.500 12/20/2017 USD 2.571 Lehman Brothers Treasury 0.500 12/20/2017 USD 2.571 Lehman Brothers Treasury 0.500 12/20/2017 USD 2.571 Lehman Brothers Treasury 11.000 12/20/2017 AUD 2.571 Lehman Brothers Treasury 11.000 12/20/2017 AUD 2.571 Lehman Brothers Treasury 8.000 3/21/2018 USD 2.571 Lehman Brothers Treasury 4.000 3/10/2011 EUR 2.571 Lehman Brothers Treasury 7.600 1/31/2013 AUD 2.571 Lehman Brothers Treasury 10.000 10/23/2008 USD 2.571 Lehman Brothers Treasury 6.000 3/4/2015 USD 2.571 Lehman Brothers Treasury 3.500 6/20/2011 EUR 2.571 Lehman Brothers Treasury 7.150 3/21/2013 USD 2.571 Lehman Brothers Treasury 5.500 6/22/2010 USD 3.400 Lehman Brothers Treasury 6.450 2/20/2010 AUD 2.571 Lehman Brothers Treasury 9.000 5/6/2011 CHF 2.571 Lehman Brothers Treasury 16.200 5/14/2009 USD 2.571 Lehman Brothers Treasury 4.600 8/1/2013 EUR 2.571 Lehman Brothers Treasury 5.500 4/23/2014 EUR 2.571 Lehman Brothers Treasury 10.000 5/22/2009 USD 2.571 Lehman Brothers Treasury 15.000 6/4/2009 CHF 2.571 Lehman Brothers Treasury 10.600 4/22/2014 MXN 2.571 Lehman Brothers Treasury 10.442 11/22/2008 CHF 2.571 Lehman Brothers Treasury 7.600 3/4/2010 NZD 2.571 Lehman Brothers Treasury 16.000 11/9/2008 USD 2.571 Lehman Brothers Treasury 1.000 5/9/2012 EUR 2.571 Lehman Brothers Treasury 3.450 5/23/2013 USD 2.571 Lehman Brothers Treasury 10.000 10/22/2008 USD 2.571 Lehman Brothers Treasury 6.600 5/23/2012 AUD 2.571 Lehman Brothers Treasury 16.000 10/28/2008 USD 2.571 Lehman Brothers Treasury 5.250 11/21/2009 USD 2.571 Lehman Brothers Treasury 3.000 6/3/2010 EUR 2.571 Lehman Brothers Treasury 2.000 6/28/2011 EUR 2.571 Lehman Brothers Treasury 5.000 11/22/2012 EUR 2.571 Lehman Brothers Treasury 5.550 3/12/2015 EUR 2.571 Lehman Brothers Treasury 12.000 7/4/2011 EUR 2.571 KPNQwest NV 7.125 6/1/2009 EUR 0.634 Lehman Brothers Treasury 13.500 6/2/2009 USD 2.571 Lehman Brothers Treasury 23.300 9/16/2008 USD 2.571 Lehman Brothers Treasury 17.000 6/2/2009 USD 2.571 Societe Generale SA 0.500 4/4/2024 MXN 73.312 Lehman Brothers Treasury 16.000 10/8/2008 CHF 2.571 Cooperatieve Rabobank UA 0.500 8/21/2028 MXN 52.385 Lehman Brothers Treasury 4.050 9/16/2008 EUR 2.571 Lehman Brothers Treasury 4.600 10/11/2017 ILS 3.750 Lehman Brothers Treasury 4.800 11/16/2012 HKD 2.571 Lehman Brothers Treasury 0.010 9/20/2011 USD 2.571 Lehman Brothers Treasury 1.600 6/21/2010 JPY 2.571 Lehman Brothers Treasury 4.200 12/3/2008 HKD 3.400 Lehman Brothers Treasury 5.200 3/19/2018 EUR 2.571 Lehman Brothers Treasury 14.900 9/15/2008 EUR 2.571 Lehman Brothers Treasury 3.500 10/31/2011 USD 2.571 Lehman Brothers Treasury 3.500 10/24/2011 USD 2.571 Lehman Brothers Treasury 3.000 9/13/2010 JPY 3.750 Lehman Brothers Treasury 5.000 4/24/2017 EUR 2.571 Mriya Agro Holding PLC 10.950 3/30/2016 USD 7.701 Lehman Brothers Treasury 3.350 10/13/2016 EUR 2.571 Lehman Brothers Treasury 9.250 6/20/2012 USD 2.571 Lehman Brothers Treasury 8.000 10/23/2008 USD 2.571 UniCredit Bank AG 9.100 1/3/2020 EUR 66.660 UniCredit Bank AG 10.700 1/3/2020 EUR 56.610 UniCredit Bank AG 7.500 1/3/2020 EUR 50.010 UniCredit Bank AG 5.500 1/3/2020 EUR 65.770 UniCredit Bank AG 12.600 1/3/2020 EUR 69.070 UniCredit Bank AG 12.200 1/3/2020 EUR 73.280 Vontobel Financial Produc 19.500 6/26/2020 EUR 73.280 Raiffeisen Centrobank AG 6.728 12/27/2019 EUR 60.700 Deutsche Bank AG 6.200 12/24/2019 EUR 47.010 Raiffeisen Centrobank AG 7.468 12/27/2019 EUR 56.060 Vontobel Financial Produc 3.700 12/20/2019 EUR 62.080 Raiffeisen Centrobank AG 6.850 12/27/2019 EUR 56.650 Vontobel Financial Produc 16.000 6/12/2020 EUR 62.840 DZ Bank AG Deutsche Zentr 12.600 12/23/2019 EUR 71.890 Vontobel Financial Produc 4.500 3/13/2020 EUR 54.790 DZ Bank AG Deutsche Zentr 6.700 12/23/2019 EUR 73.330 DZ Bank AG Deutsche Zentr 9.000 12/23/2019 EUR 68.650 Vontobel Financial Produc 4.500 3/27/2020 EUR 54.940 DZ Bank AG Deutsche Zentr 7.700 12/23/2019 EUR 74.220 Vontobel Financial Produc 19.000 6/26/2020 EUR 67.960 Vontobel Financial Produc 7.000 6/26/2020 EUR 58.420 UniCredit Bank AG 12.900 1/3/2020 EUR 58.520 UniCredit Bank AG 9.600 1/3/2020 EUR 57.490 Raiffeisen Centrobank AG 7.606 12/27/2019 EUR 73.100 Raiffeisen Centrobank AG 5.806 6/23/2020 EUR 72.870 UniCredit Bank AG 13.000 1/3/2020 EUR 72.870 UniCredit Bank AG 6.100 1/3/2020 EUR 54.600 Raiffeisen Centrobank AG 8.687 12/27/2019 EUR 59.210 DZ Bank AG Deutsche Zentr 6.250 12/23/2019 EUR 59.720 DZ Bank AG Deutsche Zentr 4.800 12/23/2019 EUR 68.800 DZ Bank AG Deutsche Zentr 6.000 12/23/2019 EUR 68.820 DZ Bank AG Deutsche Zentr 8.000 12/23/2019 EUR 43.780 DZ Bank AG Deutsche Zentr 4.700 12/23/2019 EUR 54.370 DZ Bank AG Deutsche Zentr 5.900 12/23/2019 EUR 74.020 DZ Bank AG Deutsche Zentr 4.750 12/23/2019 EUR 65.430 DZ Bank AG Deutsche Zentr 6.250 12/23/2019 EUR 65.450 DZ Bank AG Deutsche Zentr 7.500 12/23/2019 EUR 65.470 Raiffeisen Centrobank AG 7.000 10/9/2020 EUR 67.380 DZ Bank AG Deutsche Zentr 5.000 12/23/2019 EUR 70.880 DZ Bank AG Deutsche Zentr 6.500 12/23/2019 EUR 68.440 DZ Bank AG Deutsche Zentr 8.250 12/23/2019 EUR 62.440 DZ Bank AG Deutsche Zentr 4.750 12/23/2019 EUR 73.810 DZ Bank AG Deutsche Zentr 7.500 12/23/2019 EUR 70.920 DZ Bank AG Deutsche Zentr 7.500 12/23/2019 EUR 54.620 Lehman Brothers Treasury 4.350 8/8/2016 SGD 3.750 Lehman Brothers Treasury 6.650 8/24/2011 AUD 3.400 Lehman Brothers Treasury 6.000 2/14/2012 EUR 2.571 Lehman Brothers Treasury 6.600 2/22/2012 EUR 2.571 Lehman Brothers Treasury 0.250 10/19/2012 CHF 2.571 Lehman Brothers Treasury 15.000 3/30/2011 EUR 2.571 Lehman Brothers Treasury 1.680 3/5/2015 EUR 2.571 Lehman Brothers Treasury 7.000 2/15/2012 EUR 2.571 Lehman Brothers Treasury 6.750 4/5/2012 EUR 2.571 UniCredit Bank AG 12.700 1/3/2020 EUR 73.450 UniCredit Bank AG 4.300 1/3/2020 EUR 54.400 UniCredit Bank AG 5.200 1/3/2020 EUR 63.330 UniCredit Bank AG 14.600 1/3/2020 EUR 67.550 UniCredit Bank AG 4.200 1/3/2020 EUR 61.280 UniCredit Bank AG 13.800 1/3/2020 EUR 43.520 Raiffeisen Centrobank AG 3.383 12/27/2019 EUR 54.540 Raiffeisen Centrobank AG 7.895 12/27/2019 EUR 71.190 Raiffeisen Centrobank AG 8.571 12/27/2019 EUR 72.680 Vontobel Financial Produc 6.500 6/26/2020 EUR 61.160 UniCredit Bank AG 12.100 1/3/2020 EUR 72.100 UniCredit Bank AG 9.600 1/3/2020 EUR 50.070 UniCredit Bank AG 12.600 1/3/2020 EUR 71.960 UniCredit Bank AG 4.200 1/3/2020 EUR 59.430 UniCredit Bank AG 14.200 1/3/2020 EUR 62.290 UniCredit Bank AG 3.300 1/3/2020 EUR 74.180 UniCredit Bank AG 3.700 1/3/2020 EUR 68.030 UniCredit Bank AG 10.000 1/3/2020 EUR 72.860 UniCredit Bank AG 11.300 1/3/2020 EUR 49.150 UniCredit Bank AG 5.700 1/3/2020 EUR 59.180 UniCredit Bank AG 14.300 1/3/2020 EUR 58.310 Raiffeisen Centrobank AG 10.210 12/27/2019 EUR 63.720 Vontobel Financial Produc 18.000 6/26/2020 EUR 70.710 Raiffeisen Centrobank AG 8.852 12/27/2019 EUR 56.540 Vontobel Financial Produc 3.700 12/20/2019 EUR 62.080 UniCredit Bank AG 11.200 1/3/2020 EUR 53.090 UniCredit Bank AG 5.700 1/3/2020 EUR 69.230 DZ Bank AG Deutsche Zentr 7.000 12/23/2019 EUR 58.520 DZ Bank AG Deutsche Zentr 7.500 12/23/2019 EUR 68.450 DZ Bank AG Deutsche Zentr 6.250 12/23/2019 EUR 71.770 DZ Bank AG Deutsche Zentr 4.900 12/23/2019 EUR 68.910 DZ Bank AG Deutsche Zentr 5.900 12/23/2019 EUR 66.620 DZ Bank AG Deutsche Zentr 6.250 12/23/2019 EUR 54.600 DZ Bank AG Deutsche Zentr 8.500 12/23/2019 EUR 57.970 DZ Bank AG Deutsche Zentr 4.750 12/23/2019 EUR 73.810 DZ Bank AG Deutsche Zentr 4.750 12/23/2019 EUR 57.850 DZ Bank AG Deutsche Zentr 6.500 12/23/2019 EUR 67.290 DZ Bank AG Deutsche Zentr 7.300 12/23/2019 EUR 65.110 Vontobel Financial Produc 4.000 12/20/2019 EUR 31.360 Vontobel Financial Produc 9.000 9/25/2020 EUR 67.560 Vontobel Financial Produc 9.500 6/26/2020 EUR 66.060 DZ Bank AG Deutsche Zentr 13.600 12/23/2019 EUR 70.480 Vontobel Financial Produc 6.500 3/27/2020 EUR 55.520 Vontobel Financial Produc 5.000 1/3/2020 EUR 54.290 Vontobel Financial Produc 6.000 3/27/2020 EUR 58.210 Lehman Brothers Treasury 7.585 11/22/2009 MXN 3.750 Lehman Brothers Treasury 11.000 12/19/2011 USD 2.571 ECM Real Estate Investmen 5.000 10/9/2011 EUR 15.375 Lehman Brothers Treasury 8.280 3/26/2009 USD 2.571 Lehman Brothers Treasury 6.850 12/22/2008 EUR 2.571 Lehman Brothers Treasury 7.600 3/26/2009 EUR 2.571 Lehman Brothers Treasury 7.550 12/29/2008 USD 2.571 Deutsche Bank AG/London 0.500 4/5/2038 MXN 22.447 Lehman Brothers Treasury 1.500 10/25/2011 EUR 2.571 Lehman Brothers Treasury 4.000 11/24/2016 EUR 2.571 Lehman Brothers Treasury 2.500 12/15/2011 GBP 2.571 Lehman Brothers Treasury 7.500 9/13/2009 CHF 2.571 Otkritie Holding JSC 12.090 12/8/2027 RUB 0.010 Lehman Brothers Treasury 6.000 10/24/2008 EUR 2.571 Lehman Brothers Treasury 2.000 10/28/2010 EUR 2.571 Lehman Brothers Treasury 4.000 4/13/2011 CHF 2.571 Lehman Brothers Treasury 7.000 4/14/2009 EUR 2.571 Lehman Brothers Treasury 5.000 10/24/2008 CHF 2.571 Lehman Brothers Treasury 7.750 1/30/2009 EUR 2.571 Lehman Brothers Treasury 1.280 11/6/2010 JPY 3.750 Lehman Brothers Treasury 4.000 12/2/2012 EUR 2.571 Lehman Brothers Treasury 4.500 8/2/2009 USD 2.571 Lehman Brothers Treasury 10.500 8/9/2010 EUR 2.571 Lehman Brothers Treasury 4.500 3/6/2013 CHF 2.571 Lehman Brothers Treasury 7.375 9/20/2008 EUR 2.571 Lehman Brothers Treasury 3.860 9/21/2011 SGD 3.750 Lehman Brothers Treasury 9.000 6/13/2009 USD 2.571 Lehman Brothers Treasury 5.500 6/15/2009 CHF 2.571 Lehman Brothers Treasury 8.000 8/3/2009 USD 2.571 Lehman Brothers Treasury 5.750 6/15/2009 CHF 2.571 Lehman Brothers Treasury 7.500 10/24/2008 USD 2.571 Lehman Brothers Treasury 8.500 7/6/2009 CHF 2.571 Lehman Brothers Treasury 7.250 10/6/2008 EUR 2.571 Otkritie Holding JSC 12.140 10/3/2036 RUB 0.010 Lehman Brothers Treasury 10.000 3/27/2009 USD 2.571 Lehman Brothers Treasury 0.250 7/21/2014 EUR 2.571 Bulgaria Steel Finance BV 12.000 5/4/2013 EUR 0.216 Lehman Brothers Treasury 6.000 5/23/2018 CZK 2.571 Lehman Brothers Treasury 2.250 5/12/2009 USD 2.571 Lehman Brothers Treasury 10.000 1/3/2012 BRL 2.571 Lehman Brothers Treasury 4.000 5/17/2010 USD 2.571 Lehman Brothers Treasury 5.000 5/2/2022 EUR 2.571 Lehman Brothers Treasury 0.800 12/30/2016 EUR 2.571 Nutritek International Co 8.750 12/11/2008 USD 2.089 Lehman Brothers Treasury 4.000 5/30/2010 USD 2.571 Lehman Brothers Treasury 2.480 5/12/2009 USD 2.571 Lehman Brothers Treasury 2.500 8/23/2012 GBP 2.571 Lehman Brothers Treasury 4.100 6/10/2014 SGD 3.750 Lehman Brothers Treasury 13.000 7/25/2012 EUR 2.571 Lehman Brothers Treasury 1.750 2/7/2010 EUR 2.571 Lehman Brothers Treasury 7.000 10/22/2010 EUR 2.571 Lehman Brothers Treasury 1.500 10/12/2010 EUR 2.571 UniCredit Bank AG 13.600 1/3/2020 EUR 38.770 UniCredit Bank AG 8.900 1/3/2020 EUR 56.810 UniCredit Bank AG 10.300 1/3/2020 EUR 74.120 UniCredit Bank AG 4.300 1/3/2020 EUR 66.170 UniCredit Bank AG 10.000 1/3/2020 EUR 66.360 Vontobel Financial Produc 7.500 9/25/2020 EUR 63.190 UniCredit Bank AG 5.600 1/3/2020 EUR 62.320 UniCredit Bank AG 11.600 1/3/2020 EUR 74.410 Raiffeisen Centrobank AG 12.334 12/27/2019 EUR 64.390 Deutsche Bank AG 3.200 12/24/2019 EUR 65.670 Raiffeisen Centrobank AG 6.438 12/27/2019 EUR 53.980 Vontobel Financial Produc 7.500 6/12/2020 EUR 61.430 UniCredit Bank AG 14.700 1/3/2020 EUR 70.730 ********* 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. Marites O. Claro, Rousel Elaine T. Fernandez, Joy A. Agravante, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A. Chapman, Editors. Copyright 2019. 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. * * * End of Transmission * * *