/raid1/www/Hosts/bankrupt/TCREUR_Public/200525.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, May 25, 2020, Vol. 21, No. 104
Headlines
F R A N C E
HESTIAFLOOR 2: S&P Assigns 'B' ICR, Outlook Negative
G E R M A N Y
LUFTHANSA: Cabin Crew Union Calls for Measures to Safeguard Jobs
LUFTHANSA: Plane Delivery Dispute to Delay EUR9BB Gov't Bailout
G R E E C E
NAVIOS MARITIME ACQUISITION: Moody's Reviews B3 CFR for Downgrade
NAVIOS MARITIME HOLDINGS: Moody's Alters Outlook on Caa1 CFR to Neg
NAVIOS MARITIME PARTNERS: Moody's Alters Ratings Outlook to Neg.
I R E L A N D
PROVIDUS CLO IV: Fitch Assigns Final BB-sf Rating on Class E Debt
PROVIDUS CLO IV: S&P Assigns BB- Rating on Class E Notes
I T A L Y
TAURUS 2018-1: DBRS Confirms BB(low) Rating on Class E Notes
K A Z A K H S T A N
HALYK BANK: S&P Affirms BB/B Issuer Credit Ratings, Outlook Stable
R U S S I A
CHERKIZOVO GROUP: Moody's Affirms B1 CFR, Outlook Stable
S W I T Z E R L A N D
EUROCHEM GROUP: S&P Affirms 'BB-' ICR, Off Watch Positive
U N I T E D K I N G D O M
CINEWORLD GROUP: Fitch Cuts IDR to B-; Still on Watch Negative
INTERNATIONAL PERSONAL: Moody's Affirms Ba3 CFR, Outlook Stable
JAGUAR LAND: Seeks State Support Amid Slump in Sales
JOE MEDIA: Enters Administration, Seeks Buyer
PIZZA EXPRESS: Wants Lenders to Delay Lodging of 2019 Accounts
SPECIALIST LEISURE: Goes Into Administration, Ceases Trading
X X X X X X X X
[*] BOND PRICING: For the Week May 18 to May 22, 2020
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F R A N C E
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HESTIAFLOOR 2: S&P Assigns 'B' ICR, Outlook Negative
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S&P Global Ratings assigned its 'B' ratings to French resilient
flooring manufacturer Gerflor's intermediate parent company
Hestiafloor 2 and to the EUR850 million Term Loan B due 2027, with
a recovery rating of '3'.
The final ratings are in line with the preliminary ratings we
assigned Feb. 21, 2020. However, the outlook is negative.
In December 2019, Copeba agreed to acquire Gerflor. As part of
the transaction, Gerflor issued:
-- EUR850 million term loan B due 2027; and
-- EUR125 million RCF due 2027, which was drawn in March 2020.
The proceeds have been used to fund the buyout, refinance Gerflor's
debt, and pay the transaction costs. There is also EUR29 million of
rolled-over debt in the capital structure.
Gerflor is a market leader in resilient flooring (flooring made of
vinyl, linoleum, and rubber). With a 24% market share, the company
co-leads the European resilient flooring market with Tarkett. It
has strongholds in France and in Germany. We understand that the
European resilient flooring market comprises four main players. S&P
said, "We also note Gerflor's solid market position in the sport
end-market and in the transportation flooring business. While the
company has a strong presence in Asia and the U.S., we still
consider Gerflor as concentrated in Europe, which represent 70% of
the company's sales."
S&P said, "We forecast low-double-digit negative growth in 2020 due
to the outbreak of COVID-19. Over the past five years, Gerflor
has experienced strong average organic growth of 5.3%. This is
thanks to an increasing purchase rate for vinyl tiles over
alternative flooring products, and the development of Gerflor's
product offerings on the back of continuous innovation. However, we
expect sales will decline significantly in 2020 due to weaker
macroeconomic conditions amid the COVID-19 pandemic. In particular,
we believe that demand for resilient flooring in the transportation
end-market will be much lower this year. Gerflor also expanded
through bolt-on acquisitions, which accounted for EUR169 million of
additional sales between 2014 and 2019. While our base case does
not assume any mergers and acquisitions (M&A) due to uncertainty
surrounding their timing or size, we understand the company may
continue its bolt-on acquisition strategy in the coming years.
"We forecast S&P Global Rating adjusted EBITDA margins of
14.5%-15.5% in 2020-2021. We believe this is in line with that of
other peers in the building material sector. We note that Gerflor
has improved its margins over the last few years, boosted by cost
control and some positive product mix in, for example, the
transport end-market. Gerflor has continued to increase its EBITDA
throughout the economic cycles, with uninterrupted growth since
2006.
"We expect capital expenditure (capex) of 3.0%-3.5% of sales, and
free cash flows of at least EUR20 million on a recurring basis over
2020-2021. Gerflor should not have significant capex requirements
in the next couple of years. We understand Gerflor is postponing
part of its capex in 2020 in order to protect cash flows.
"We forecast S&P Global Ratings-adjusted debt to EBITDA of over 8x
for Gerflor in 2020. Our assessment of Gerflor's financial risk
profile is constrained by the group's high debt, which we estimate
at about EUR1 billion at closing of the acquisition. In addition,
Gerflor drew its EUR125 million revolving credit facility (RCF) as
a precautionary measure, and we understand that these funds remain
on the balance sheet and assume the company can reimburse it once
macro-conditions recover. However, this has resulted in temporarily
higher leverage, because we do not net cash from debt in
calculating the company's leverage.
"We believe financial sponsor ownership limits the potential for
leverage reduction over the medium term. Although we do not
deduct cash from debt in our calculation owing to Gerflor's
private-equity ownership, we expect that cash could be partly used
to fund bolt-on M&A. In the medium term, the financial sponsor's
commitment to maintaining financial leverage sustainably below 5.0x
would be necessary for an improved financial profile assessment.
"We acknowledge a high degree of uncertainty about the rate of
spread and peak of the coronavirus outbreak. Some government
authorities estimate the pandemic will peak about midyear, and we
are using this assumption in assessing the economic and credit
implications. We believe the measures adopted to contain COVID-19
have pushed the global economy into recession (see our
macroeconomic and credit updates here: www.spglobal.com/ratings).
As the situation evolves, we will update our assumptions and
estimates accordingly.
"The negative outlook reflects our view of macroeconomic
uncertainties arising from the outbreak of COVID-19, which could
have a more pronounced economic impact than in our base case,
leading Gerflor's credit metrics and cash flows to weaken further.
"We could lower the ratings if demand remains very low in the
second half of the year and in early 2021 due to the COVID-19
outbreak, resulting in a much weaker operating performance and
adjusted debt to EBITDA sustainably above 6.5x. Under this
scenario, free operating cash flow (FOCF) would be limited and
liquidity pressure could arise.
"We could revise our outlook back to stable if we observe a swift
recovery in Gerflor's performance after the COVID-19 outbreak, such
that its adjusted debt-to-EBITDA ratio improves back 6.5x on a
sustainable basis. Under that scenario, we expect the company to
post continuous solid FOCF. A stable outlook would require Gerflor
to maintain an adequate liquidity position."
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G E R M A N Y
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LUFTHANSA: Cabin Crew Union Calls for Measures to Safeguard Jobs
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Tom Kaeckenhoff at Reuters reports that Germany's airline cabin
crew union called on May 22 for Berlin to include measures to
safeguard jobs in the bailout package which is being finalized for
airline Lufthansa.
According to Reuters, the UFO union said it was "regrettable" that
negotiations with the government did not appear to involve
provisions to preserve jobs at the German airline, which is burning
cash as the coronavirus pandemic has grounded most of its flights.
Lufthansa is in advanced talks over a EUR9 billion (US$9.8 billion)
bailout with the government, which would involve Germany taking a
20% stake in the airline, but UFO said the plan would not ensure
workers' rights, Reuters relates.
UFO members were prepared to accept hardship but only if jobs could
be preserved under a different operating model which addressed
social aspects, he said, adding that there was not enough evidence
of "decency and honesty" being applied, Reuters notes.
Once Berlin's economic stabilization fund puts forward a final
offer, Lufthansa's management and supervisory board will need to
approve the deal, Reuters discloses.
LUFTHANSA: Plane Delivery Dispute to Delay EUR9BB Gov't Bailout
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Thomas Seythal and Tom Kaeckenhoff at Reuters report that talks
over a EUR9-billion German government bailout of Lufthansa have hit
a snag.
According to Reuters, German newspaper Handelsblatt reported,
citing unnamed sources, reported that the issue involves a demand
from the government that Lufthansa accept delivery of all planes it
has ordered from Airbus, putting a significant financial burden on
the troubled airline group.
The planes would cost the ailing carrier more than EUR5 billion
(US$5.5 billion) in the coming three to four years, which
Handelsblatt said would make the airline's recovery practically
impossible, Reuters relates.
The dispute means there will be a further delay to the rescue
package, Reuters states. The report said a meeting of Lufthansa's
supervisory board, which was due to discuss the terms on May 22,
has been postponed until Monday, May 25, Reuters notes.
A German government spokeswoman, when asked about the report, said
there was no update on the issue, Reuters relays.
Lufthansa, seeking to weather the coronavirus pandemic and what is
expected to be a protracted travel slump, had said on May 21 it was
in advanced talks that would see Germany take a 20% stake, Reuters
discloses.
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G R E E C E
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NAVIOS MARITIME ACQUISITION: Moody's Reviews B3 CFR for Downgrade
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Moody's Investors Service has placed on review for downgrade the B3
corporate family rating of Navios Maritime Acquisition Corporation,
its probability of default rating of B3-PD and the B3 rating on its
$670 million senior secured 1st lien notes due 2021 and co-issued
with Navios Acquisition Finance (US) Inc.The outlook for Navios
Acquisition has been changed to Ratings Under Review (RuR) from
Negative (Neg).
RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR
DOWNGRADE OF THE RATINGS
The action reflects primarily over $120 million of near-term
secured bank debt maturities due 2020 (including $32.5 million due
in June 2020) that Navios Acquisition needs to address. The company
announced a new $76.7 million financing arrangement for four
product tankers; however, it has not yet been executed. Moody's
views refinancing so close to existing debt maturities as a
liquidity risk. Furthermore, Navios Acquisition will face a
maturity of its outstanding $658 million secured bond in November
2021. Although NNA will have more time to address this obligation,
it is a large amount relative to the size of the company's balance
sheet. The review will focus on the outcome to the ongoing
refinancing arrangements and the consequent impact on liquidity, as
well as the development of credible plans for refinancing the
November 2021 debt maturity.
More positively, Navios Acquisition is currently benefitting from
exceptionally robust spot and charter rates for tankers,
particularly very large crude carriers (VLCCs), many of which are
being utilised as floating storage. Global demand for oil has
declined as a result of economic slowdown in the wake of
coronavirus as evidenced by a dramatic drop in the oil price;
however, the demand for oil storage has increased as excess oil
needs storing by market participants. This dynamic has driven
charter rates for VLCCs to over $70,000 per day in April 2020 from
just under $50,000 per day at the end of 2019, according to Drewry
Maritime Research. Owing to this rapid rise in charter rates,
Moody's expects NNA's leverage to reduce materially in 2020 to
below 6x (measured as debt/EBITDA) from over 9x in 2019. Still,
Moody's does not anticipate the tanker market to remain at its
current exceptionally high levels for a long time. As the supply
and demand in the oil markets is rebalanced, Moody's expects the
demand for floating storage to reduce putting downward pressure on
tanker charter rates.
Navios Acquisition's B3 rating reflects (1) diverse and modern
fleet with a mix of crude oil and product tankers; (2) low
operating costs as a result of the low average age of its fleet and
the fleet management contract signed with a related entity
controlled by the company's CEO; (3) highly leveraged capital
structure with debt/EBITDA at 9.1x in 2019 (a reduction from 20x a
year earlier and expected to reduce further); (4) exceptionally
strong tanker charter rates (although likely temporary); and (5)
significant debt maturities with over $120 million of secured bank
debt due in 2020 and a $670 million secured bond maturing in 2021.
Given the rating action, an upgrade is unlikely in the short term,
however, for a positive rating action NNA would need to maintain
its Debt/EBITDA ratio below 6.0x over several quarters and its
(Fund from operations (FFO) + interest)/interest expense ratio
above 2.5x on a sustainable basis, in addition to improving its
liquidity profile.
The ratings are likely to be downgraded if there are any liquidity
challenges including a failure to address debt maturities in a
timely manner or covenant breaches. Also, (FFO + interest)/interest
expense ratio falling below 1.5x for a prolonged period of time
would also be viewed negatively.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONS
The rapid and widening spread of the coronavirus outbreak,
deteriorating global economic outlook, falling oil prices, and
asset price declines are creating a severe and extensive credit
shock across many sectors, regions and markets. The combined credit
effects of these developments are unprecedented. The shipping
industry, where Navios Acquisition operates, is significantly
affected by the shock. More specifically, the existing weaknesses
in NNA's credit profile have left it vulnerable to shifts in market
sentiment in these unprecedented operating conditions and NNA
remains vulnerable to the outbreak continuing to spread. Moody's
regards the coronavirus outbreak as a social risk under the ESG
framework, given the substantial implications for public health and
safety.
LIQUIDITY
Moody's regards Navios Acquisition's liquidity as weak given the
company's imminent debt maturities and the need to finalise
refinancing arrangements in the near-term. Still, the agency notes
strong positive cash flow currently generated by NNA given the
short-term market dynamics.
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Shipping
Industry published in December 2017.
NAVIOS MARITIME HOLDINGS: Moody's Alters Outlook on Caa1 CFR to Neg
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Moody's Investors Service affirmed the Caa1 corporate family rating
(CFR) of Navios Maritime Holdings, Inc. and its probability of
default rating (PDR) at Caa1-PD. Moody's simultaneously affirmed
the rating of Navios Holdings' $650 million senior secured first
preferred ship mortgage notes due 2022 at Caa1 and the rating of
the $305 million senior secured notes due 2022 at Caa2. The rating
outlook was revised to negative from stable.
Further, Moody's affirmed the CFR of Navios South American
Logistics Inc. ("Navios Logistics," "NSAL") at B3, its PDR at
B3-PD, its $100 million senior secured term loan due 2021 at B1 and
its $375 million senior unsecured notes due 2022 at Caa1. NSAL's
rating outlook was also revised to negative from stable.
RATINGS RATIONALE
The action with respect to Navios Holdings reflects primarily
Moody's expectation of increased uncertainty with respect to demand
for dry bulk shipments in the wake of coronavirus and related
global economic slowdown. In particular, the expected slowdown in
GDP growth in China, by far the largest importer of dry bulk goods,
is a concern. Moody's estimates that Chinese GDP will grow by 1% in
2020, down sharply from 6.1% in 2019. The action also reflects
Navios Holdings' weak liquidity.
Further, the action with respect to Navios Logistics reflects the
close ties between these entities including Navios Holdings 63.8%
equity ownership of Navios Logistics, as well as Navios Logistics'
support of Navios Holdings through extending a $70 million loan to
Navios Holdings
More positively, both Navios Holdings and Navios Logistics
demonstrated good performance in 2019. Navios Holdings was able to
increase its charter coverage and to reduce its leverage to 5.3x in
2019 from 7.4x in 2018. Navios Logistics benefitted from a
lucrative long-term contract it signed with Vale S.A. (Ba1 stable)
to utilize its iron ore transshipment port, as well as improved
performance in its barge and cabotage segments. NSAL's leverage
reduced to 5.1x in 2019 from 7.1x in 2018. Still, Moody's
anticipates both Navios Holdings and Navios Logistics to increase
their leverage metrics as a result of market weakness in 2020.
Navios Holdings' Caa1 corporate family rating continues to reflect
(1) the company's large and diverse dry bulk fleet that is younger
than the industry average; (2) some indirect diversification in the
logistics business through Navios Logistics and stakes in various
affiliated companies present in the dry bulk, tanker and container
shipping segments; (3) its efficient operations as a result of the
economies of scale because of the overall size of the Navios Group
incorporating over 200 vessels; (4) its experienced management
team; and (5) its reduced leverage. Counterbalancing these
strengths the rating also reflects (1) the potentially
unsustainable capital structure, also potentially evidenced by
substantial debt buybacks at a significant discount to par value
leading to a risk of distressed exchange; (2) the company's
material exposure to the dry bulk market; (3) the ongoing
volatility in the Baltic Dry Index (BDI), a key dry bulk benchmark;
(4) limited revenue visibility into and earnings volatility endemic
to the commodity-based dry bulk market; (5) downside risks from the
overall slowdown in the global macroeconomic environment, and (6)
weak liquidity.
Navios Logistics CFR of B3 continues to reflect (1) the diversity
of the company's services, with port terminal, barge and cabotage
operations; (2) the 20-year contract with Vale S.A. and recently
increased use of NSAL's port by Vale; (3) a strong management team
with a successful track record of operations in the region; (4) the
company's declining leverage; (5) its geographic and customer
concentration; (6) the company's close ties with its controlling
shareholder, Navios Holdings; (7) risks related to operating in
relatively politically unstable countries; (8) the company's
exposure to cyclical markets and to adverse weather conditions,
such as droughts or floods, which affect agricultural production
and river navigability.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONS
The rapid and widening spread of the coronavirus outbreak,
deteriorating global economic outlook, falling oil prices, and
asset price declines are creating a severe and extensive credit
shock across many sectors, regions and markets. The combined credit
effects of these developments are unprecedented. The shipping
industry, where Navios Holdings and Navios Logistics operate, is
significantly affected by the shock. More specifically, the
existing weaknesses in Navios Holdings' and Navios Logistics 's
credit profiles have left them vulnerable to shifts in market
sentiment in these unprecedented operating conditions and the
companies remains vulnerable to the outbreak continuing to spread.
Moody's regards the coronavirus outbreak as a social risk under the
ESG framework, given the substantial implications for public health
and safety. The action reflects the impact on Navios Holdings and
Navios Logistics of the breadth and severity of the shock, and the
broad deterioration in credit quality it has triggered.
LIQUIDITY
Navios Holdings' liquidity is weak owing to reduced expected
charter rates and cash flows in the wake of coronavirus. The
company had $32.4 million of stand-alone cash at December 31, 2019.
Navios Holdings is also facing $850 million of maturities in 2022
(excluding NSAL), $305 million of which may be brought forward to
October 2021 under certain conditions.
Navios Logistics' liquidity is adequate with $45.6 million of cash
at December 31, 2019 and consistent cash flows underpinned by the
Vale contract. However, the company is facing a $100 million term
loan maturity in November 2021 and a $375 million bond maturity in
May 2022.
STRUCTURAL CONSIDERATIONS
The Caa1 rating on Navios Holdings' ship mortgage notes due 2022 is
in line with the CFR of Caa1 reflecting the potential for
additional buybacks of these notes resulting in a distressed
exchange. The Caa2 rating assigned to the senior secured notes due
2022 is notched down from Navios Holdings' CFR to reflect the
notes' junior most ranking behind significant bank debt and ship
mortgage notes.
Navios Logistics' senior secured term loan due 2021 is rated B1,
two notches above NSAL's B3 CFR, reflecting a strong security
package. NSAL's senior notes due 2022 are rated Caa1, one notch
below the CFR, reflecting their junior position in the capital
structure.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Although not expected in the near term, positive rating pressure
could occur if Navios Holdings successfully refinances its 7.375%
notes due 2022 and maintains leverage below 7.0x, while generating
positive free cash flow and improving its liquidity.
Negative rating pressure could result from a downturn in the dry
bulk market or a deterioration in the financial performance or
value of its investment holdings such that Navios Holdings'
leverage increases and is sustained beyond 8.0x debt/EBITDA. Any
liquidity challenges would also be a concern as would further
material bond buybacks at a deep discount, which could be
classified as a distressed exchange and a default under its
definition.
Positive rating movement for NSAL would be likely if the rating of
Navios Holdings is upgraded and, at the same time, NSAL maintains
debt/ EBITDA below 5.5x and (funds from operations +
interest)/interest above 2.5x, together with an adequate liquidity
profile.
Negative rating pressure could arise if (1) NSAL's liquidity
profile weakens materially, (2) its leverage deteriorates beyond
7.5x, or (3) the rating of Navios Holdings is downgraded.
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Shipping
Industry published in December 2017.
Navios Maritime Holdings, Inc. is a global vertically integrated
seaborne shipping and logistics company focused on the transport
and transhipment of dry bulk commodities, including iron ore, coal
and grain. In 2019, Navios Holdings generated revenue of $482
million and adjusted EBITDA of $304 million, as reported by the
company.
Navios South American Logistics Inc. is one of the principal
logistics companies operating in the Hidrovia region river system
in South America providing waterborne transportation services for
liquid and dry cargoes, as well as port, storage and related
services. In 2019, Navios Logistics generated revenue of $228
million and EBITDA of $104 million. Navios Holdings owns 63.8% of
NSAL, the remainder being held by the Argentinean Lopez family
through Peers Business Inc.
NAVIOS MARITIME PARTNERS: Moody's Alters Ratings Outlook to Neg.
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Moody's Investors Service has affirmed the corporate family rating
of Navios Maritime Partners L.P. at B2 and its probability of
default rating at B2-PD. The agency also revised the rating outlook
to negative from stable.
RATINGS RATIONALE
The action reflects primarily Moody's expectation of increased
uncertainty with respect to demand for dry bulk shipments in the
wake of coronavirus and related global economic slowdown. In
particular, the expected slowdown in GDP growth in China, by far
the largest importer of dry bulk goods, is a concern. Moody's
estimates that Chinese GDP will grow by 1% in 2020, down sharply
from 6.1% in 2019. In addition, Navios Partners has some exposure
to the container charter market through its 33.5% equity interest
in Navios Maritime Containers L.P. (NMCI), as well as a number of
owned container vessels some of which are trading in the spot
market. Although the time charter rates for container ships have
improved slightly through March 2020 according to Drewry Maritime
Research, future improvements could be challenging in the wake of
coronavirus and reduced demand for container shipping. Quarantines
imposed in many countries have also made moving around vessels and
crew difficult.
More positively, Navios Partners continues to maintain a manageable
leverage (3.2x debt/EBITDA for 2019) and good liquidity following
the repayment of the balance under $458 million Term Loan B in
October 2019. Supporting the company's performance are the
long-term container charters that comprise close to 40% of
contracted revenues and do not expire until December 2023.
Navios Partners' B2 rating reflects (1) the company's low financial
leverage compared with its peers; (2) its low operating costs,
resulting from the fleet management contract signed with Navios
Shipmanagement Inc. (NSM), an entity controlled by Angeliki
Frangou, the chairman and CEO of Navios Group; (3) its relatively
small size with some customer concentration; (4) its modest
dividends and significant investment in Navios Maritime Containers
Inc (NMCI); and (5) the inherent volatility of the dry bulk
shipping business, which experienced both multiyear highs and lows
since the beginning of 2019.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONS
The rapid and widening spread of the coronavirus outbreak,
deteriorating global economic outlook, falling oil prices, and
asset price declines are creating a severe and extensive credit
shock across many sectors, regions and markets. The combined credit
effects of these developments are unprecedented. The shipping
industry, where Navios Partners operates, is significantly affected
by the shock. More specifically, the existing weaknesses in NMM's
credit profile have left it vulnerable to shifts in market
sentiment in these unprecedented operating conditions and NMM
remains vulnerable to the outbreak continuing to spread. Moody's
regards the coronavirus outbreak as a social risk under the ESG
framework, given the substantial implications for public health and
safety. The action reflects the impact on NMM of the breadth and
severity of the shock, and the broad deterioration in credit
quality it has triggered.
LIQUIDITY
Moody's regards Navios Partners' liquidity as adequate given the
company's cash generative operations and fully secured,
asset-backed debt structure that can typically be refinanced also
on a secured basis.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
An upgrade is unlikely in the short term because of the volatility
of the dry bulk operations and the short-term nature of a large
number of the company's contracts. However, Navios Partners'
ratings could be upgraded if the company were to sustain its
leverage, measured as debt/EBITDA, at below 4.0x and increase its
coverage, measured as funds from operations (FFO) interest coverage
(that is, FFO + interest expense/interest expense), at above 4.0x,
both for over four quarters and taking into account the shifts in
NMM's charter portfolio. Good liquidity at all times would also be
needed for an upgrade.
Navios Maritime Partners' ratings could be downgraded if the free
cash flow after maintenance capital spending and dividends turns
negative and the company's liquidity deteriorates. Debt/EBITDA
above 5.5x and FFO interest coverage below 3.5x for a prolonged
period could also be triggers for a downgrade.
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Shipping
Industry published in December 2017.
Navios Maritime Partners L.P. (NMM) is an international owner and
operator of dry bulk and container vessels. It is a master limited
partnership (MLP) formed in August 2007 under the laws of the
Republic of the Marshall Islands by Navios Maritime Holdings, Inc.
In 2019, the company reported revenue of $219 million and adjusted
EBITDA of $120 million.
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PROVIDUS CLO IV: Fitch Assigns Final BB-sf Rating on Class E Debt
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Fitch Ratings has assigned Providus CLO IV Designated Activity
Company final ratings.
RATING ACTIONS
Providus CLO IV DAC
Class A XS2166378872; LT AAAsf New Rating; previously AAA(EXP)sf
Class B XS2166379508; LT AAsf New Rating; previously AA(EXP)sf
Class C XS2166380936; LT Asf New Rating; previously A(EXP)sf
Class D XS2166381587; LT BBB-sf New Rating; previously BBB-(EXP)sf
Class E XS2166382395; LT BB-sf New Rating; previously BB-(EXP)sf
TRANSACTION SUMMARY
Providus CLO IV Designated Activity Company is a cash-flow
collateralised loan obligation (CLO). Net proceeds from the notes
are used to purchase a EUR200 million portfolio of mainly
euro-denominated leveraged loans and bonds. The transaction has a
one-year reinvestment period and a weighted average life of 6.25
years. The portfolio of assets is managed by Permira Debt Managers
Group Holdings Limited.
KEY RATING DRIVERS
'B'/'B-' Portfolio Credit Quality
Fitch expects the average credit quality of obligors to be in the
'B'/'B-' category. The weighted average rating factor (WARF) of the
identified portfolio is 32.93.
High Recovery Expectations
At least 90% of the portfolio comprises senior secured obligations.
Recovery prospects for these assets are typically more favourable
than for second-lien, unsecured and mezzanine assets. The weighted
average recovery rating (WARR) of the identified portfolio is
69.04%.
Diversified Asset Portfolio
The transaction includes several Fitch test matrices corresponding
to the two top-10 obligors' concentration limits of 16% and 26% and
fixed-rate obligations limits of 0% and 10%. The manager can
interpolate within and between the four matrices. The transaction
also includes various concentration limits, including the maximum
exposure to the three-largest (Fitch-defined) industries in the
portfolio at 40%. These covenants ensure that the asset portfolio
will not be exposed to excessive concentration.
Portfolio Management
The transaction features a one-year 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, as well as to assess their
effectiveness, including the structural protection provided by
excess spread diverted through the par value and interest coverage
tests.
Coronavirus Sensitivity Analysis
In light of the coronavirus pandemic, Fitch carried out a scenario
analysis on the target portfolio. The agency notched down the
ratings for all assets with corporate issuers on Negative Outlook
regardless of sector This scenario analysis shows resilience of the
assigned ratings, with substantial cushion.
Fitch also considered the possibility that the stress portfolio,
determined by the transaction's covenants, would further
deteriorate due to the impact of coronavirus-mitigation measures.
Fitch believes this circumstance is adequately addressed by the
inclusion of the downwards notching by a single sub-category of all
collateral obligations on Negative Outlook for the purpose of
determining a Fitch rating of obligations at the effective date.
RATING SENSITIVITIES
This section provides insight into the model-implied sensitivities
the transaction faces when one assumption is modified, while
holding others equal. The modelling process uses the modification
of these variables to reflect asset performance in upside and
downside environments. The results should only be considered as one
potential outcome, as the transaction is exposed to multiple
dynamic risk factors. It should not be used as an indicator of
possible future performance.
A 25% 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.
A 25% default multiplier applied to the portfolio's mean default
rate, and with this subtracted from all rating default levels, and
a 25% increase of the recovery rate at all rating recovery levels,
would lead to an upgrade of up to five notches for the rated
notes.
Factors that could, individually or collectively, lead to positive
rating action/upgrade:
The transaction features a reinvestment period and the portfolio is
actively managed. At closing, Fitch used a standardised stress
portfolio (Fitch's stressed portfolio) that is customised to the
specific portfolio limits for the transaction as specified in the
transaction documents. Even if the actual portfolio has lower
defaults and smaller losses (at all rating levels) than Fitch's
stressed portfolio assumed at closing, an upgrade of the notes
during the reinvestment period is unlikely, as portfolio credit
quality may still deteriorate, not only through natural credit
migration, but also through reinvestments.
After the end of the reinvestment period, upgrades may occur in
case of better- than-initially expected portfolio credit quality
and deal performance, leading to higher credit enhancement for the
notes and excess spread available to cover for losses on the
remaining portfolio.
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
Fitch has analysed the warehouse portfolio, which includes
EUR112,325,304 worth of assets, and the target portfolio. Fitch has
identified the following sectors with the highest exposure to the
impact of the coronavirus: automobiles, transportation and
distribution (airline and shipping related); gaming and leisure and
entertainment; retail, lodging and restaurants; metal and mining;
energy, oil and gas; and aerospace and defence (airline related).
The total ramped-up portfolio exposure to these sectors is 9.64%
and the target portfolio exposure to these sectors is 6.42%.
Fitch has run a scenario that envisages negative rating migration
by one notch for all assets that are on Negative Outlook. This
scenario was carried out on the target portfolio, which includes
the ramped-up portfolio and assets that the manager intends to
purchase, due to the low ramp-up level of the warehouse portfolio.
The resulting default rate is still below the breakeven default
rate for the stress portfolio analysis, meaning that rating
migration of this magnitude would not affect the rating of the
CLO.
Downgrades may occur if the build-up of credit enhancement for the
notes following amortisation does not compensate for a greater loss
expectation than initially assumed due to an unexpectedly high
level of default and portfolio deterioration. As the disruptions to
supply and demand due to the coronavirus pandemic become apparent
for other sectors, loan ratings in those sectors would also come
under pressure. Fitch will update the sensitivity scenarios in line
with the view of its Leveraged Finance team.
PROVIDUS CLO IV: S&P Assigns BB- Rating on Class E Notes
--------------------------------------------------------
S&P Global Ratings assigned its credit ratings to Providus CLO IV
DAC's class A, B, C, D, and E notes.
Under the transaction documents, the rated notes pays quarterly
interest unless there is a frequency switch event. Following this,
the notes will switch to semiannual payment.
The portfolio's reinvestment period will end one year after
closing, and the portfolio's maximum average maturity date will be
approximately 6.2 years after closing.
S&P's ratings assigned to the notes reflect its assessment of:
-- The diversified collateral pool, which consists primarily of
broadly syndicated speculative-grade senior secured term loans and
bonds that are governed by collateral quality tests.
-- The credit enhancement provided through the subordination of
cash flows, excess spread, and overcollateralization.
-- The collateral manager's experienced team, which can affect the
performance of the rated notes through collateral selection,
ongoing portfolio management, and trading.
Portfolio Benchmarks
Current
S&P Global Ratings weighted-average rating factor 2,786.71
Default rate dispersion 627.57
Weighted-average life (years) 5.55
Obligor diversity measure 83.46
Industry diversity measure 11.64
Regional diversity measure 1.48
Transaction Key Metrics
Current
Total par amount (mil. EUR) 200
Defaulted assets (mil. EUR) 0
Number of performing obligors 94
Portfolio weighted-average rating
derived from our CDO evaluator 'B'
'CCC' category rated assets (%) 3.79
Covenanted 'AAA' weighted-average recovery (%) 37.00
Covenanted weighted-average spread (%) 3.55
Covenanted weighted-average coupon (%) 5.00
S&P said, "Our ratings reflect our assessment of the collateral
portfolio's credit quality, which has a weighted-average rating of
'B'. We consider that the portfolio will be well-diversified on the
effective date, primarily comprising broadly syndicated
speculative-grade senior secured term loans and senior secured
bonds. Therefore, we conducted our credit and cash flow analysis by
applying our criteria for corporate cash flow collateralized debt
obligations.
"In our cash flow analysis, we used the EUR200 million par amount,
the covenanted weighted-average spread of 3.55%, the covenanted
weighted-average coupon of 5.00%, and the covenanted
weighted-average recovery rate of 37% at the 'AAA' rating level. We
applied various cash flow stress scenarios, using four different
default patterns, in conjunction with different interest rate
stress scenarios for each liability rating category."
The transaction's documented counterparty replacement and remedy
mechanisms adequately mitigate its exposure to counterparty risk
under our current counterparty criteria.
S&P said, "Following the application of our structured finance
sovereign risk criteria, we consider the transaction's exposure to
country risk to be limited at the assigned ratings, as the exposure
to individual sovereigns does not exceed the diversification
thresholds outlined in our criteria.
"We consider the transaction's legal structure to be bankruptcy
remote, in line with our legal criteria.
"Our credit and cash flow analysis indicates that the available
credit enhancement for the class B to E notes could withstand
stresses commensurate with higher rating levels than those we have
assigned. However, as the CLO is still in its reinvestment phase,
during which the transaction's credit risk profile could
deteriorate, we have capped our assigned ratings on the notes. In
our view the portfolio is granular in nature, and well-diversified
across obligors, industries, and asset characteristics when
compared to other CLO transactions we have rated recently.
"Following our analysis of the credit, cash flow, counterparty,
operational, and legal risks, we believe that our credit ratings
are commensurate with the available credit enhancement for the
class A, B, C, D, and E notes.
"In light of the rapidly shifting credit dynamics within CLO
portfolios due to continuing rating actions (downgrades,
CreditWatch placements, and outlook changes) on speculative-grade
corporate loan issuers, we are making qualitative adjustments to
our analysis when rating CLO tranches to reflect the likelihood
that changes to the credit profile of the underlying assets may
affect a portfolio's credit quality in the near term. This is
consistent with paragraph 15 of our criteria for analyzing CLOs."
To do this, S&P reviews the likelihood of near-term changes to the
portfolio's credit profile by evaluating the transaction's specific
risk factors, including, but not limited to, the percentage of the
underlying portfolio that comes from obligors that:
-- Are rated in the 'CCC' range;
-- Are currently on CreditWatch with negative implications;
-- Are rated with a negative outlook; or
-- Sit within a static portfolio CLO transaction.
Based S&P's review of these factors, it believes that the minimum
cushion between this CLO's tranches' break-even default rates
(BDRs) and scenario default rates (SDRs) should be 1% (from a
possible range of 1%-5%).
As noted above, the purpose of this analysis is to take a
forward-looking approach for potential near-term changes to the
underlying portfolio's credit profile.
S&P said, "Taking the above into account and following our analysis
of the credit, cash flow, counterparty, operational, and legal
risks, we believe that our ratings are commensurate with the
available credit enhancement for all of the rated classes of
notes.
"In addition to our standard analysis, to provide an indication of
how rising pressures among speculative-grade corporates could
affect our ratings on European CLO transactions, we have also
included the sensitivity of the ratings on the class A to E notes
to five of the 10 hypothetical scenarios we looked at in our recent
publication.
S&P Global Ratings acknowledges a high degree of uncertainty about
the rate of spread and peak of the coronavirus outbreak. S&P said,
"Some government authorities estimate the pandemic will peak about
midyear, and we are using this assumption in assessing the economic
and credit implications. We believe the measures adopted to contain
COVID-19 have pushed the global economy into recession. As the
situation evolves, we will update our assumptions and estimates
accordingly."
Providus CLO IV is a European cash flow CLO securitization of a
revolving pool, comprising euro-denominated senior secured loans
and bonds issued mainly by speculative-grade borrowers. Permira
Debt Managers Group Holdings Ltd. will manage the transaction.
Ratings List
Class Rating Amount Credit Interest
(mil. EUR) enhancement (%) rate*
A AAA (sf) 112.20 43.90 Three/six-month EURIBOR
plus 1.45%
B AA (sf) 27.00 30.40 Three/six-month EURIBOR
plus 2.65%
C A (sf) 13.70 23.55 Three/six-month EURIBOR
plus 3.27%
D BBB (sf) 11.80 17.65 Three/six-month EURIBOR
plus 4.64%
E BB- (sf) 8.70 13.30 Three/six-month EURIBOR
plus 7.00%
Sub. Notes NR 34.20 N/A N/A
*The payment frequency switches to semiannual and the
index switches to six-month EURIBOR when a frequency
switch event occurs.
EURIBOR--Euro Interbank Offered Rate.
NR -- Not rated.
N/A -- Not applicable
=========
I T A L Y
=========
TAURUS 2018-1: DBRS Confirms BB(low) Rating on Class E Notes
------------------------------------------------------------
DBRS Ratings GmbH confirmed the ratings of all classes of the
Commercial Mortgage-Backed Floating Rate Notes Due May 2030 (the
Notes) issued by Taurus 2018-1 IT S.R.L. (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)
-- Class E Notes at BB (low) (sf)
The trend on Class A remains Stable while the trends on Class B
through E remain Negative.
RATING RATIONALE
Despite the Coronavirus Disease (COVID-19) pandemic, DBRS
Morningstar confirmed its ratings as it does not foresee there to
be any immediate negative loan performance or loan default risk
that could result in immediate reliance on property market values.
Nevertheless, DBRS Morningstar remains cautious about its outlook
of the transaction, as the operational impact of coronavirus on the
Bel Air loan is starting to emerge as the tenants' due dates to pay
the April, May, and June rent has been postponed. Additionally, the
lease negotiation of the Peschiera 1 asset (the largest asset in
the portfolio secured against the Logo loan) has not yet concluded.
Therefore, the Negative trends in the junior classes are
maintained.
Taurus 2018-IT S.R.L. is a EUR 336.6 million securitization of
three floating-rate senior commercial real estate loans (the
Camelot loan, the Bel Air loan, and the Logo loan) advanced by BAML
International Limited, Milan Branch for the Camelot and Bel Air
loans and BAML International Limited for the Logo loan. Both the
Camelot and Bel Air loans were used for acquisition financing
whereas the Logo loan was used for refinancing. The Camelot and
Logo loans are backed by Italian logistics assets (sponsored by
Blackstone and managed by Logicor), while the Bel Air loan is
backed by Italian retail properties (sponsored by Partners Group
L.P. and managed by Kryalos Asset Management).
As of February 17, 2020, the properties securing the three loans
have increased in value, bringing down their loan-to-value (LTV)
ratios to 48.2% for Bel Air and 56.2% for Logo. Camelot's LTV
decreased further to 65.8% because of a partial EUR 5.3 million
prepayments linked to the noncompletion of a development project at
the Massalengo I asset. The transaction-level leverage is currently
59.4% compared with 65.7% at issuance. The Camelot and Logo loans
had their first maturity dates in February and May 2020,
respectively, but both have been extended to 2021, while the Bel
Air loan has its first maturity date in May 2021. Currently, all
three loans have two one-year extension options that can be
exercised as long as the extension notice is delivered on time, the
borrower has purchased hedging, and the loan is not in default.
DBRS Morningstar does not foresee any particular difficulties for
the Camelot and Logo borrowers to exercise their extension rights
because of the lack of default financial covenants. The Bel Air
borrower, instead, still needs to meet its 70.0% LTV and 9.0% debt
yield (DY) default financial covenants in order to exercise its
extension option before the February 2021 first loan maturity. The
February 2020 investor report stated Bel Air’s LTV and DY were
48.2% and 13.1%, respectively, which currently leaves the headroom
for the borrower to remain compliant with the loan covenants.
However, if the Italian retail market does not recover from the
impact of the coronavirus pandemic in 2021, it is still possible
for the Bel Air loan to trigger a credit event and come under
refinancing pressure.
DBRS Morningstar commented on this transaction in its previous
press release titled, "DBRS Morningstar Changes Trend to Negative
from Stable on Four Italian Retail CMBS Transactions" dated March
24, 2020. Since the Bel Air loan sponsor rescheduled its tenants'
April-to-June rent payments to monthly in arrears from quarterly in
advance. The tenants will also benefit from a deferral of April's
rent to the last quarter in 2020. At present time, DBRS Morningstar
is not aware of any further amendment or waiver to the terms of the
leases that might have an immediate impact on the cash flow of the
loan and transaction.
The Logo loan's borrower has served notice in Q2 2019 to the
biggest tenant TNT/FedEx to terminate the tenants' leases at the
Verona and Peschiera 1 properties on January 31, 2020, and August
31, 2020, respectively. DBRS Morningstar understood that a new
lease for the Verona asset has been signed at a slightly higher
rent for a six-year term with one six-year renewal option. However,
the lease negotiation for the Peschiera 1 asset at Linate airport
in Milan is still ongoing. Given the prime logistic location of the
Peschiera 1 asset, DBRS Morningstar remains optimistic about the
outcome of such negotiation and has maintained its underwriting
assumptions at issuance. In addition, DBRS Morningstar is still
waiting for confirmation from the servicer about whether the
expiring rental income from the TNT leases for the Verona and
Peschiera 1 assets have been included in full for the calculation
of the loan DY covenant in the last few quarters. In DBRS
Morningstar's view, the rental income from such properties should
only be included up to the break dates on January 31, 2020, and
August 31, 2020, respectively, which would have been expected to
trigger the breach of the DY cash trap covenant.
The Camelot loan, which is the largest loan in the transaction
(comprising approximately 59% of the outstanding pool balance),
continues to perform in line with expectations, as most of its
largest tenants are logistics companies that were allowed to trade
during the national lockdown in Italy. This is expected to provide
some cash flow security and stability in the coming quarters.
Notes: All figures are in Euros unless otherwise noted.
===================
K A Z A K H S T A N
===================
HALYK BANK: S&P Affirms BB/B Issuer Credit Ratings, Outlook Stable
------------------------------------------------------------------
S&P Global Ratings affirmed its 'BB' long-term and 'B' short-term
issuer credit ratings of Kazakhstan-based Halyk Savings Bank of
Kazakhstan (Halyk Bank). The outlook is stable.
S&P also affirmed its 'kzA+' Kazakhstan national scale rating on
the bank.
S&P said, "The affirmation reflects our view that Halyk Bank will
maintain its current credit standing over the next 12 months. The
bank has a leading market position in Kazakhstan and benefits from
customer loyalty. We forecast a stable lending portfolio this year
before it expands by 5%-10% during the following two years, once
economic activity starts to revive.
"We expect that Halyk Bank will take a prudent underwriting
approach to new lending in the next 12 months. We anticipate that
the bank will be able to continue cherry-picking borrowers in the
corporate and SME segment and will focus on mortgages and lending
to employees with salary assignments in the retail segment. Halyk
Bank now has a dominant market position in Kazakhstan's banking
sector, accounting for about 30% of system-wide loans and 35% of
total customer deposits on April 1, 2020.
"We expect that Halyk Bank's risk-adjusted capital (RAC) ratio will
remain around 9.0% during the next two years, compared with 8.9% at
the end of 2019, supported by the bank's prudent growth strategy
and good earning capacity. We believe that the bank may pay up to
25% of net income as interim dividends nearer to the end of 2020 if
the local economy stabilizes. We forecast an increase in credit
costs of up to 2.5%-2.8% of total loans in 2020 from 0.8% in 2019
because of the worsening economic environment. We anticipate the
bank's credit costs will then gradually decrease to around
2.0%-2.2% of total loans in 2021-2022.
"Halyk Bank has made good progress in working out its problem
assets over the past year, with Stage 3 loans having decreased to
around 15.9% of total loans at end-2019 from 19.6% a year ago.
However, we expect some pressure on the bank's asset quality
metrics this year as the economy slows because of COVID-19
containment measures and declined oil prices. We note that Halyk
Bank's coverage of problem loans by loan-loss provisions improved
to 58% at the end of 2019 from 50% a year ago. The bank is also
more effective than domestic peers in collecting interest payments
from borrowers, in our view, as demonstrated by its ratio of
interest received in cash to interest accrued of around 89% in
2019.
"We view Halyk Bank's funding profile as favorable compared with
its domestic peers, reflecting its diversified deposit franchise
with the highest market share in Kazakhstan--35% as of April 1,
2020--for both retail and corporate customer deposits. The bank
benefits from its history as the country's savings bank.
"We regard Halyk Bank's liquidity as strong, reflecting the large
amount of liquid assets on its balance sheet. We expect this to
remain the case for the next few years. The bank does not have any
large debt repayments due in the medium term and has a very
conservative lending strategy. Under our estimates, liquid assets
accounted for around 48% of the bank's total assets on May 1,
2020.
“zWe continue to consider Halyk Bank as highly systemically
important in the Kazakhstan banking sector. However, we do not
incorporate any support into our issuer credit rating on the bank
because its intrinsic creditworthiness is close to our 'BBB-' local
currency sovereign credit rating on Kazakhstan.
"The stable outlook reflects our expectation that the bank's high
capital and liquidity buffers and strong earnings capacity will
allow it to withstand the pressures related to COVID-19 containment
measures and the economic slowdown in Kazakhstan."
A negative rating action appears remote in the next 12 months,
because it would require a simultaneous deterioration of the bank's
asset quality indicators or capitalization, with its RAC ratio
decreasing below 7%, and the depletion of its liquidity cushion.
Although unlikely during the next 12 months, S&P could raise the
ratings on Halyk Bank if its asset quality indicators continued to
improve with Stage 3 loans decreasing below 15% of total loans
despite the expected economy slowdown in Kazakhstan and tightening
operating environment in the local banking sector. This also
assumes that the bank's RAC ratio stays comfortably above 7% and
its liquidity buffers remain far above those of most peers.
===========
R U S S I A
===========
CHERKIZOVO GROUP: Moody's Affirms B1 CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service affirmed the B1 corporate family rating
and B1-PD probability of default rating of Cherkizovo Group, PJSC,
Russia's leading meat products manufacturer. The rating outlook is
stable.
RATINGS RATIONALE
The decision to affirm Cherkizovo's rating reflects Moody's view
that the company's business profile and strong market foothold will
help it withstand the deterioration in the domestic macroeconomic
environment and maintain robust financial metrics and adequate
liquidity. Cherkizovo's focus on Russia's domestic market means
that it is vulnerable to the weakening economic conditions in the
country that will translate into a 5.5% decline in GDP expected by
Moody's in 2020, and a decline in personal disposable incomes.
Similar to other Russian animal protein producers, Cherkizovo will
face other headwinds, such as continuing weak price environment on
the domestic pork meat market driven by oversupply, and an upsurge
in the cost of meat production following recent rouble depreciation
as it imports fodder components and veterinary products. Moody's
notes that vertical integration into grain production (an ample
stock of grain should help Cherkizovo mitigate grain price
volatility over the next 3 - 4 months) and meat processing will
allow Cherkizovo to limit inflation of costs to around 6%-7% in
2020 compared with 15%-17% increase that Moody's envisages for less
integrated producers. Overall, Moody's expects the company to
maintain its 2020 sales at or slightly above 2019 levels because of
higher prices of poultry and turkey products, sustain
profitability, measured by Moody's-adjusted EBITDA margin, at
around 15%-16%, and maintain leverage, measured by Moody's adjusted
debt/EBITDA, below 3.5x. Proceeds from exports, which the company
intends to increase to one-tenth of total poultry production in
2020, currently provide around US$10 million a month, which creates
a degree of natural hedge against an increase in foreign
currency-denominated costs.
The animal protein production sector is vulnerable to potential
disruption from the coronavirus pandemic. Mass contraction of the
virus by the plants' employees could result in the closure of the
premises and a significant loss in revenue for prolonged periods.
Moody's positively views the fact that Cherkizovo is implementing
measures — including shift work, social distancing, personnel
health monitoring and the timely isolation of infected workers —
to fight the pandemic at its facilities, as well as securing backup
workforce to ensure continuous operation.
Although delisted from the London Stock Exchange in 2018,
Cherkizovo maintains good corporate governance standards, with
three out of seven directors being independent nonexecutive
industry experts. The company is 82.2% owned by the Mikhaylov
family, 8% by Grupo Corporativo Fuertes, S.L., 0.5% by management,
6.6% are held as treasury shares and 2.8% remain in free float on
the Moscow Exchange.
Cherkizovo's B1 CFR reflects its (1) relatively modest size by
international standards; (2) susceptibility to volatility in
commodity prices and a number of industry-specific event risks,
including biological risks, trade restrictions and government
policies; and (3) concentration on Russia's domestic market, with
currently limited export opportunities. Moody's positively
acknowledges Cherkizovo's proven ability to withstand market
downcycles, supported by its (1) leading market position in its
home country; (2) diversified meat product output, with a portfolio
of well-known domestic brands; (3) developed distribution network
that covers the most densely populated European part of Russia; (4)
increasing vertical integration, with around 30% self-sufficiency
in grain; and (5) well-invested, high-margin poultry and pork
production facilities. The rating also incorporates Cherkizovo's
established access to the Government of Russia's (Baa3 stable)
financial support for agricultural businesses, which continues to
contribute to the stability of the company's financial results. The
company's gradual shift to longer-term bank funding and its strong
relationship with state-owned banks provide additional support to
its rating.
Moody's expects Cherkizovo to generate operating cash flow of at
least RUB13 billion in 2020. Together with the available committed
backup liquidity of around RUB32 billion and cash balances of more
than RUB10.0 billion as of the end of March 2020, this cash flow
should allow the company to comfortably refinance its debt
maturities and partially fund its capital spending over the next 18
months. Cherkizovo has already curtailed its investment programme
for the current year and may trim it further if need be. The
dividend policy, which envisages distribution of 50% of net income,
can also be adjusted downwards to strengthen liquidity. Cherkizovo
maintains a relatively large share of short-term working capital
financing, which supports its operating cycle and is partially
subsidised by the government.
RATIONALE FOR THE STABLE OUTLOOK
The outlook on Cherkizovo's B1 CFR is stable reflecting Moody's
expectation that the company will sustain its adjusted leverage
metrics within the guidance range for the current rating category
amid weakening market conditions, and will maintain adequate
liquidity.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Cherkizovo's rating could be upgraded if the company demonstrated a
track record of a conservative financial policy, with adjusted
debt/EBITDA below 3.0x and EBITA/interest coverage above 4.0x on a
sustained basis, as well as robust liquidity.
Conversely, Cherkizovo's rating could be downgraded if its adjusted
debt/EBITDA sustainably rose above 4.0x and EBITA/interest fell
below 2.5x because of a more aggressive financial policy, or a
material weakening in operating results, as well as deterioration
in the company's liquidity profile.
The principal methodology used in these ratings was Protein and
Agriculture published in May 2019.
Cherkizovo Group, PJSC (Cherkizovo) is Russia's leading meat
products manufacturer, ranking first in overall meat and poultry
production. The company operates eight meat-processing plants,
seven full-cycle poultry and 16 integrated pork production
facilities, as well as nine combined fodder production plants.
Cherkizovo's vertically integrated model is complemented by the
in-house grain production in its own land plots of around 290,000
hectares, grain storage facilities and a distribution network
covering most of the European part of Russia and, since end-2018,
Siberia. In the 12 months ended December 31, 2019, Cherkizovo's
consolidated revenue and Moody's-adjusted EBITDA amounted to the
equivalent of around $1.9 billion and $292 million, respectively.
=====================
S W I T Z E R L A N D
=====================
EUROCHEM GROUP: S&P Affirms 'BB-' ICR, Off Watch Positive
---------------------------------------------------------
S&P Global Ratings affirmed its 'BB-' issuer credit rating on
agrochemicals producer EuroChem Group because it forecasts that
EuroChem will ramp-up production to nameplate capacity, generate
positive free operating cash flow (FOCF), and maintain adequate
liquidity. S&P has removed the ratings from CreditWatch, where it
placed them with positive implications on Feb. 27, 2020.
EuroChem's operations were not affected by the coronavirus and
lockdown measures during the first quarter of 2020, and the
company has undertaken various initiatives to strengthen liquidity
and refinance a portion of its upcoming debt maturities.
While the spread of COVID-19 continues to evolve, EuroChem has been
able to maintain its operations and mining activities throughout
the first quarter of 2020. As it highlighted at the beginning of
May, all plants continue to operate as normal and customers have
experienced no significant disruptions to product deliveries. The
company has implemented a number of preventative measures across
all functions to reduce the risk of adverse effects on staff and
the business.
EuroChem announced the launch of a benchmark U.S.
dollar-denominated senior unsecured guaranteed notes offering at
the end of February, shortly before pandemic took hold in Europe.
While the issuance cannot proceed for now given market conditions,
the company has worked on other refinancing options. It has issued
ruble-denominated five-year bonds for about $480 million equivalent
and attracted up to $230 million of bilateral offers with different
maturities to repay a current portion of its long-term debt
maturity.
S&P said, "We revised our current liquidity assessment to adequate
from less than adequate to factor in EuroChem's improved liquidity
position and debt maturity profile. We recognize its track record
of accessing public debt markets and multiple funding sources as
well as its relatively solid relationships with banks--although we
consider the timeliness of refinancing is less satisfactory
compared to other corporate issuers at the rating level."
EuroChem has $1.6 billion of debt to repay over the next 12 months
and $0.8 billion in the subsequent year. S&P assumes that it will
use the cash generated by its activities--along with existing
proceeds and access to various liquidity sources--but this could
again lead to liquidity management challenges over the coming 24
months.
Risks from large upcoming maturities also come amid still-high
expansionary capital expenditure (capex) along with working capital
seasonal needs that are hard to predict in an uncertain operating
environment but will need prudent management in the next two
years.
While demand for fertilizers varies by product and may demonstrate
a degree of regional resilience, the impact from the weaker
macroeconomic environment in 2020 and price recovery in 2021 is
uncertain. For 2020 and 2021, we anticipate EuroChem will benefit
from the ramp-up of ammonia and potash volumes to nameplate
capacity, as well as the weakened ruble, notwithstanding soft
fertilizer prices. Given the greater COVID-19 uncertainty related
to demand and operating conditions, S&P anticipates FFO to debt to
fluctuate around 20% in 2020 (versus above that level under its
previous base case) before strengthening to comfortably above that
level in 2021.
Over the first quarter of 2020, EuroChem continued the development
of its two potash projects in Russia, producing 506,000 tonnes of
potash at Usolskiy, and undertook further drillings at its other
VolgaKaliy potash mine. The company announced sales of $1.6 billion
for the first quarter of 2020, a 3% increase year-on-year.
The company sold 6.4 million tonnes (mmt) of fertilizers, mining,
and other products during the period, a 10% increase year-on-year.
Sales remained well diversified across the globe with Europe
accounting for 32%, Latin America 22%, Russia 16%, North America
14%, Asia 10%, the Commonwealth of Independent States (excluding
Russia) 4%, and Africa 2% of total sales.
The latest contracts for China Potash CFR dropped from $290 per
tonne (/t) at end-February to $220/t at the beginning of May, and
Brazil Potash CFR from $250/t to $215/t. Actual prices and
contracts by local markets for fertilizer products will determine
the pace of EuroChem's margin improvement and gross debt reduction
over the coming period.
S&P said, "We forecast a gradual ramp-up of ammonia and potash
fertilizer production volumes, leading to adjusted EBITDA of about
$1.5 billion-$1.7 billion in 2020 (against $1.7 billion initially
anticipated) before increasing to $1.6 billion-$1.7 billion in
2021.
"We anticipate EuroChem's financial leverage will decrease and
credit metrics will strengthen as the company generates
consistently positive FOCF during the ramp-up. Notwithstanding the
soft fertilizer prices we assume this year, we forecast an adjusted
EBITDA margin of about 26%-27% from 2020 thanks to EuroChem's
low-cost positions and further backward integration." EuroChem's
profitability will benefit from access to low-cost gas feedstock
and to adjacent ports and rail freight services, as well as a low
cost base in Russia helped by a depreciating ruble against the U.S.
dollar.
Capex will also reduce as the company approaches the completion of
its large investment cycle. S&P assumes capex of $850 million
annually in 2020 and 2021, decreasing from $950 million in 2019 and
$1,111 million in 2018.
At this stage, EuroChem will complete its major investments by
end-2021 when its new potash operations achieve its full nameplate
announced capacity. FOCF will be used either for reinvestment
within the company or for gross debt reduction.
The company targets 2.5x net leverage in 2020 and aims to sustain
leverage comfortably below that threshold over the medium term. It
does not plan to distribute any dividend or repay the $850 million
shareholder loan (which S&P's treat as debt in our adjustments).
EuroChem will ramp-up production to nameplate capacity in 2020 and
sustain improved performance due to its vertical integration and
competitive cost position. With three largescale-productions
assets in nitrogen-, potash-, and phosphate-based fertilizers,
EuroChem is one of Russia's leading fertilizer producers and among
the top-15 global fertilizer companies as measured by production
volumes and nutrient content globally.
Last year, EuroChem successfully commissioned EuroChem Northwest,
an ammonia plant in Kingisepp (Russia) that has Europe's largest
single-train production capacity at 1 million metric tonnes (mmt)
per year. The plant gives EuroChem self-sufficiency for ammonia,
serving its fertilizer production plants in Antwerp (Belgium),
Lifosa (Lithuania), and at Phosphorit, the group's adjacent
phosphate fertilizer facility in Kingisepp. This further
consolidates its first-quartile position on the global urea
cash-cost curve while allowing about 25% of its total ammonia
output to be sold to third parties.
EuroChem has invested $5.9 billion developing the ammonia
production plant in Kingisepp and two greenfield potash projects,
Usolskiy and VolgaKaliy. S&P said, "We anticipate that the 2.3 mmt
potash production at the Usolskiy mine and adjacent processing
facilities will ramp up as planned during 2020. We anticipate that
EuroChem will not incur material additional expenses in bringing
the VolgaKaliy potash project onstream and will be able to extract
high quality ore to phase 1 capacity (2.3 mmt)."
S&P said, "The positive outlook reflects our expectation that we
could raise our rating on EuroChem in the next 12 months. We expect
the company to maintain adjusted FFO to debt of about 20% in 2020
and above that in 2021. This is because we anticipate that ramp-up
of production to nameplate capacity and the weakened ruble will
support EuroChem's operating performance in 2020-2021, despite a
soft price environment for fertilizers.
"We also believe EuroChem will continue its proactive refinancing
plan to address upcoming debt maturities in 2020-2021, and adapt to
the heightened uncertainties and challenges related to the
pandemic.
"We could raise the rating in the next year if EuroChem
demonstrates sustainable FOCF generation, ramps up production in
line with its current plan, and maintains adequate liquidity. We
consider adjusted FFO to debt sustainably above 20% and the absence
of immediate refinancing or liquidity risks as commensurate with a
higher rating.
"We could revise outlook to stable if fertilizer prices declined
materially or the ruble appreciated significantly against the U.S.
dollar, which would result in FFO to debt falling below 20% without
near-term prospects of recovery. We could also take a negative
rating action if EuroChem does not have a plan to address upcoming
debt maturities well ahead of time, or if it substantially
increases shareholder remuneration and capex."
===========================
U N I T E D K I N G D O M
===========================
CINEWORLD GROUP: Fitch Cuts IDR to B-; Still on Watch Negative
--------------------------------------------------------------
Fitch Ratings has downgraded Cineworld Group plc's Long-Term Issuer
Default Rating (IDR) to 'B-' from 'B+'. The senior secured debt
issued by wholly owned subsidiary Crown Finance US Inc. is also
downgraded to 'B(EXP)' from 'BB-(EXP)'. Both IDR and instrument
rating remain on Rating Watch Negative (RWN).
The downgrade reflects the impact of the coronavirus pandemic in
the form of cash burn at Cineworld as cinemas remain closed within
its geographic footprint. It also factors in a spike in leverage
that is likely to take time to reduce, potential pressure on
liquidity and low visibility on the company's recovery from the
pandemic.
Fitch expects Cineworld to take measures to improve liquidity and
minimise its cash burn. Its scale and cash-generative business
model are supportive of a rapid recovery but uncertainty on the
duration of the pandemic and pace of recovery reduce visibility and
raises credit risk.
The RWN reflects the impact of Cineworld's planned acquisition of
Cineplex on existing terms, as well as the company's challenged
liquidity position. While the industrial logic of the Cineplex
transaction remains sound in its opinion, the additional debt
burden of the transaction would significantly heighten financial
risks under the current circumstances.
KEY RATING DRIVERS
COVID-19 Cash Burn: Lockdown measures implemented in the US, UK and
Europe have necessitated the closure of Cineworld's cinemas. Its
base case forecasts negative cash flow of about USD35 million-
USD40 million per month while its cinemas remain closed. It factors
in deferrals of a majority of its rental obligations and minimal
staffing costs. These two factors account for the majority of the
company's fixed cost base, which amounted to about 25% of revenues
at end-2019. Cineworld has announced a halt in dividend payments
and will also be able to make sizeable reductions in capex, both of
which are included in its cash flow forecasts.
Current Weak Liquidity: The pace of cash burn will diminish
Cineworld's liquidity. At end-2019, Cineworld reported unrestricted
cash and cash equivalents of USD140.6 million and an revolving
credit facilities (RCF) of USD463 million that was drawn by USD95
million. This is likely to provide five-to-six months of liquidity
from the point at which the cinemas closed in mid- to late-March
(excluding Cineplex). Cineworld is discussing the company's ongoing
liquidity requirements with its RCF banks.
Uncertain Recovery Path: Cinemas are likely to be among the final
phase of businesses that are likely to reopen as lockdown
restrictions ease. The pace at which cinema attendance returns to
normal will depend on a number of factors that are difficult to
predict. Negative factors include the impact of continued
social-distancing measures, risk concerns among certain segments of
the market, impact of economic downturn on incremental spending in
cinemas, concern of a second wave of infections and any lasting
changes in the way movies are distributed and consumed from home
via OTT video-on- demand services. Positively, the release of
potential blockbuster movies could encourage higher overall
attendance.
Mid-Case Gradual Reopening: Fitch's base case aims to model a
mid-case impact scenario. In this scenario, Fitch factors a gradual
reopening of cinemas from July 2020 but with sizeably reduced
attendance figures due to ongoing social-distancing measures and
ongoing virus concern among some customer segments. The scenario
envisages that it will take at least until 4Q21 before cinema
attendance normalises. As a result, Fitch believes Cineworld's
financial performance will remain significantly below 2019 levels
before recovering in 2022. Its base case assumes minimal EBITDA in
2020 and EBITDA at about 40%-45% of 2019 levels for 2021.
Sizeable Spike In Leverage: As a result of the cash burn in 2020
and the gradual return to normality envisaged in its base case,
Fitch sees Cineworld's funds from operations (FFO) gross leverage
rising to about 10.0x at end-2021 from 5.1x at end-2019. The figure
is likely to be non-meaningful in 2020 due to the potential cash
burn during the year. Cineworld is also highly likely to breach its
existing debt covenants in 2020, requiring flexibility from its RCF
lenders. This flexibility may also be required in 2021 as liquidity
risk may continue to persist.
Covenant Breach Likely: Cineworld's 2019 results indicate US dollar
and euro term loans totalling USD3.6 billion and a RCF of USD463
million (USD95 million drawn). The RCF is subject to net
debt-to-EBITDA covenants, which are triggered above 35%
utilisation, and the term loans have cross-default provisions in
respect of the covenant. The Cineplex acquisition will be funded by
secured incremental term loan of USD1.9 billion and a USD0.3
billion unsecured bridge loan. The bridge loan includes similar
financial covenant ratios as the secured bank loans, being 5.5x net
debt-to-consolidated adjusted EBITDA until December 2020, and then
5.0x from June 30, 2021 onwards.
Capacity to Rapidly Recover: Cineworld has one of the largest
cinema portfolios in the world and a strongly cash-generative
business model. This provides the company with the ability to
reduce any temporary increases in debt within 12 months of
returning to normality. One or two blockbuster movies with a
reasonable attendance level would be sufficient in instigating a
rapid improvement in the company's liquidity. The company's
portfolio scale and leading operational execution capability are
also likely to be key in obtaining continued support from
landlords, film studios and lenders.
Cineplex Transaction Difficult: Fitch's base case continues to
incorporate the acquisition of Cineplex, which is still subject to
competition and regulatory clearance in Canada. While the
transaction has strong industrial logic, its original terms would
only exacerbate Cineworld's financial risks under the current
circumstances. This is reflected in Cineworld's RWN.
DERIVATION SUMMARY
The ratings of Cineworld reflects its strong position in its core
markets, its large scale and cash-generative business model.
Potential financial volatility within the sector from the
dependency on the success of film releases, changing secular trends
and exposure to discretionary consumer spend drive more
conservative leverage thresholds for the rating.
Cineworld has greater scale, diversification and lower emerging
market exposure than its peer Cinemark Holdings Inc. (B+/Negative).
Cineworld's lower rating reflects a higher leverage and current
weaker liquidity position. The rating when adjusted for lower
leverage is broadly in line with that of other discretionary
spending and consumer media peers in Fitch's credit opinion
universe and publicly rated peers such as Pinnacle Bidco Plc (Pure
Gym; B-/Negative).
KEY ASSUMPTIONS
Fitch's Key Assumptions Within Its Rating Case for Cineworld
- A cash burn of USD35 million to USD40 million per month while
cinemas are closed.
- A gradual re-opening of cinemas from July 2020 with attendance
figures impacted by social-distancing measures and ongoing concern
of the pandemic. Normality of attendance and guest-spend commences
from 4Q21.
- EBITDA of USD44 million in 2020 and USD351 million in 2021.
- Other cash items (comprising tax rebates, studio and advertiser
support) of USD20 million in 2020 and USD70 million in 2021.
- Capex of around USD150 million in 2020 and USD100 million in
2021.
- Full annual run-rate synergies from the Cineplex transaction of
USD104 million from 2022.
- Cash dividend of USD51 million in 2020 and no dividend payments
in 2021.
KEY RECOVERY RATING ASSUMPTIONS
- The recovery analysis assumes that Cineworld would be
considered as a going-concern in bankruptcy and that the company
would be reorganised rather than liquidated. Fitch has assumed a
10% administrative claim in the recovery analysis.
- The analysis assumes a post-restructuring EBITDA of USD879
million, assuming normalised post-crisis operating conditions.
- For its recovery analysis, Fitch applies a post restructuring
enterprise value (EV)-to-EBITDA multiple of 5.0x.
- Fitch calculates a recovery value of USD3,955million
representing approximately 67% of total senior secured debt.
- The prospective USD343 million bridge loan facility remains
senior unsecured in ranking.
- USD463 million RCF fully drawn.
RATING SENSITIVITIES
Factors that could, individually or collectively, lead to positive
rating action/upgrade:
- The RWN would be resolved and the rating affirmed at 'B-' if
the Cineplex acquisition fails to proceed on existing terms and if
the company achieves a sufficient increase in its liquidity buffer
that in Fitch's judgement, provides sufficient cover and headroom
for 2020 and 2021. A Negative Outlook would be assigned to reflect
continued low visibility on the impact of the coronavirus pandemic
and a recovery path to normality in line with Fitch's base case.
- The rating would be upgraded to 'B' on visibility on attendance
levels, ticket prices, per-guest concession spending and free
cash-flow (FCF) generation trending towards pre-coronavirus
pandemic levels if Cineworld builds a strong liquidity profile; or
if funds from operations (FFO) gross leverage trends below 7.0x on
a sustained basis.
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
- Completion of the Cineworld transaction based on existing terms
while the company's financial risk profile remains stretched;
- Failure to achieve a sufficient increase in current RCF lines;
- Higher-than-anticipated monthly cash burn rate while cinemas
are closed, or deterioration of liquidity and a more severe impact
from the coronavirus pandemic;
- Higher-than-anticipated declines in attendance and or per-guest
concession spending or ticket prices leading to a sharper decline
in EBITDA or contraction in pre-dividend FCF; and
- Sustained negative FCF or FFO interest cover below 1.0x from
2021.
LIQUIDITY AND DEBT STRUCTURE
Weakening Liquidity: As at end-2019, Cineworld reported
unrestricted cash and cash equivalents of USD140.6 million and an
RCF of USD463 million that was drawn by USD95 million. This is
likely to provide five-to-six months of liquidity as of end-March
2020 (assuming a monthly cash burn of USD35 million to USD40
million). Excluding the acquisition of Cineplex, Cineworld has no
immediate refinancing risk with its current RCF maturing in 2023
and its first term loan maturing in 2025. Fitch believes Cineworld
should be able to improve its liquidity, through increasing its
existing RCF.
ESG CONSIDERATIONS
The highest level of ESG credit relevance, if present, is a score
of 3. This means ESG issues are credit-neutral or have only a
minimal credit impact on the entity(ies), either due to their
nature or to the way in which they are being managed by the
entity(ies).
INTERNATIONAL PERSONAL: Moody's Affirms Ba3 CFR, Outlook Stable
---------------------------------------------------------------
Moody's Investors Service affirmed the Ba3 corporate family rating
of International Personal Finance plc (IPF), and the backed local
and foreign currency senior unsecured (P)Ba3 ratings of IPF's Euro
Medium Term Note Programme. The outlook on the issuer is stable.
The rating action follows Moody's assessment of the resilience of
IPF's business model and financial fundamentals to the
deteriorating operating environment in the company's key geographic
markets from the coronavirus pandemic. The company will face
particular challenges in terms of medium-term cash flows due to the
impact of coronavirus induced government measures, which will
significantly impact its overall financial performance. However,
the reverse maturity profile of its balance sheet as well as its
solid capital are strong mitigating factors, resulting in the
ratings affirmation.
RATINGS RATIONALE
- AFFIRMATION OF CFR REFLECTS RELATIVE RESILIENCE OF FINANCIAL
PROFILE IN A DETERIORIATING ECONOMIC ENVIRONMENT AND CHALLENGING
BUSINESS SEGMENT
Moody's affirmation of IPF's Ba3 CFR reflects the resilience of the
company's overall credit profile, even in a deteriorating operating
environment from the rapid and widening spread of the coronavirus
outbreak. Although the initial shock from the coronavirus has been
similar across countries, economic outcomes will differ because of
different capacities to withstand the shock. The revenues of
consumer lenders such as IPF that are materially reliant on in
person originations and cash collections are affected by government
mandated lock down and social distancing measures as well as by
measures introduced to mitigate against cash flow constraints on
those affected by the coronavirus outbreak. Moody's currently views
IPF to be sufficiently prepared to withstand these pressures. The
rating agency regards the coronavirus outbreak as a social risk
under its Environmental Social and Governance framework, given the
substantial implications for public life.
Despite more recent reported weakening in cash flows and
profitability due to lower collections, higher loan loss
provisioning requirements and constrained loan growth, Moody's
expects IPF's profitability to recover to a more moderate level
into 2021, as social distancing eases and as a higher share of its
customers transition to digital payment platforms.
Furthermore, IPF's debt maturity profile shows concentration in
2020 and 2021, giving rise to refinancing risk. Based on Moody's
estimates IPF has 15% of its debt maturing in 2020 and a further
63% in 2021. However, IPF has an agile balance sheet with a
relatively short-term loan book. This allows it to adjust its risk
appetite to the rising risks in its operating environments, as well
as, supporting its cash accumulation. Together with its committed
undrawn bank facilities, Moody's believes IPF can meet its
liquidity needs. Moody's expects IPF to refinance a more moderate
amount on the back of balance sheet contraction and to operate with
lower leverage, until it resumes growth as the economic outlook
begins to improve.
In addition, the Ba3 CFR also factors in: (1) Moody's unchanged
view of IPF's operating environment, assessed at B2 reflecting the
inherently weak industry risk to which non-prime instalment lenders
are exposed resulting in a higher propensity for earning's
volatility, and (2) IPF's international geographic diversification,
where the risks to balance-sheet from current coronavirus related
economic stress will peak at different times across regions IPF is
exposed to. As a result, despite the expected weakening in IPF's
overall financial profile as a result of coronavirus disruption to
its business model, when factored together with the B2 industry
risk score, the CFR remains at Ba3.
- AFFIRMATION OF MTN PROGRAMME RATING REFLECTS THE ABSENCE OF
MORE SENIOR RANKING SECURED FUNDING SOURCES
The affirmation of IPF's (P)Ba3 senior unsecured MTN programme
rating is based on the Ba3 CFR; and the outcome of Moody's Loss
Given Default (LGD) for Speculative-Grade Companies analysis that
takes into account IPF's liability structure, which leads to the
alignment of the senior unsecured MTN programme rating with the
CFR.
- RATIONALE FOR THE STABLE OUTLOOK
The stable outlook reflects Moody's expectation that IPF will
continue to perform in line with that of its Ba3 CFR over the next
12-18 months, whereby its solid capitalisation will underpin its
resilience against weakening profitability and asset risk. Moody's
expects ongoing deleveraging due to lower originations to result in
reduced refinancing needs.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Due to current pressures in its operating environment, Moody's does
not expect positive pressures on IPF's CFR over the next 12-18
months. However, a future upgrade of the ratings will depend on (1)
improvements in the overall financial profile, in particular via
significantly reduced debt maturity concentration reducing
refinancing risk; and/or (2) improvement in Moody's assessment of
IPF's operating environment.
IPF's CFR could be downgraded in the event that (1) solvency
materially weakens due to prolonged profitability challenges;
and/or (2) its cash flow and liquidity position weakens, for
example if the company is unable to gradually reduce its
refinancing needs and is unable to partially tap into the wholesale
markets during the later quarters of this year.
The positioning of the CFR could be subject to reassessment if IPF
is subject to material adverse regulatory changes that impacts its
business viability in some of its markets.
The senior unsecured MTN programme rating may also be upgraded or
downgraded if IPF were to change its liability structure and
increase the proportion of subordinated or senior-ranked
liabilities.
LIST OF AFFECTED RATINGS
Issuer: International Personal Finance plc
Affirmations:
Long-term Corporate Family Rating, affirmed Ba3
Backed Senior Unsecured Medium-Term Note Program, affirmed (P)Ba3
Backed Senior Unsecured Regular Bond/Debenture, affirmed Ba3
Outlook Action:
Outlook remains Stable
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Finance
Companies Methodology published in November 2019.
JAGUAR LAND: Seeks State Support Amid Slump in Sales
----------------------------------------------------
The Telegraph reports that Jaguar Land Rover is reportedly seeking
state support as car sales have collapsed under the lockdown.
According to The Telegraph, the high-end car maker could need more
than GBP1 billion of aid, Sky News reported, to help it bridge the
slump in sales.
Factories have gone back to work, but showrooms have yet to reopen
meaning manufacturers face growing costs but limited revenues, The
Telegraph notes.
Those loans could come in a form which convert into an ownership
stake if they are not repaid, leaving the Government as a key owner
of the industrial group, alongside Indian investors Tata, The
Telegraph states.
Support packages on offer so far have not reached the business, as
they are designed for small and mid-sized firms, or larger
companies with investment-grade credit ratings, which JLR lacks,
The Telegraph discloses.
JOE MEDIA: Enters Administration, Seeks Buyer
---------------------------------------------
Business Sale reports that Joe Media Limited, the UK parent company
of social news website Joe.co.uk, has appointed administrators to
seek a buyer.
Joe.co.uk attracts millions of monthly visitors, largely targeting
a male millennial market.
KPMG have been appointed as administrators and have said that there
are no plans for redundancies at the website, Business Sale
relates.
According to Business Sale, in a statement, joint administrators
Stuart Irwin and Ian Leonard said: "The administrators are
continuing to trade the company and intend to undertake a marketing
process with a view to selling the business as a going concern. At
this time there are no plans for any redundancies. The joint
administrators conducted a staff briefing outlining their plans."
In Joe Media Ltd's most recent accounts, to the year ending
December 31 2018, it registered losses of GBP1.7 million, with net
liabilities of around GBP5.5 million, including GBP6.4 million owed
to Maximum Media Network Limited, Business Sale discloses.
Joe Media Ltd originally entered the UK market in 2015 as the
London-registered subsidiary of Ireland-based Maximum Media
Network, initially trading under that name before rebranding.
Maximum Media owns the original Joe website Joe.ie, as well as
sister sites SportsJoe, Her and HerFamily. Websites in the Joe
family gain overall monthly traffic of around 42 million.
PIZZA EXPRESS: Wants Lenders to Delay Lodging of 2019 Accounts
--------------------------------------------------------------
Oliver Gill at The Telegraph reports that Pizza Express is
appealing to lenders for permission to delay its accounts as it
grapples with empty restaurants.
The casual dining chain, which has more than 600 sites and employs
14,000 people globally, has instructed financial restructuring
specialists to identify the names of bond investors owed GBP1.1
billion, The Telegraph relates.
According to The Telegraph, sources said that given the uncertainty
facing the business, Pizza Express wanted to delay the lodging of
its 2019 accounts. The move comes as the loss-making company races
to restructure its heavily indebted finances, The Telegraph notes.
Pizza Express has hired investment bank Houlihan Lokey and law firm
Kirkland & Ellis, The Telegraph relays.
More than GBP450 million of bondholder debts must be repaid within
little more than a year, The Telegraph discloses. A further GBP665
million is due to mature in 2022, The Telegraph states. Turnaround
specialist Global Loan Agency Services has given bondholders until
May 29 to give their consent to the delayed filing of accounts,
according to The Telegraph.
SPECIALIST LEISURE: Goes Into Administration, Ceases Trading
------------------------------------------------------------
Business Sale reports that Specialist Leisure Group Ltd, the parent
company of coach holiday company National Holidays, has stopped
trading and administrators appointed.
Specialist Leisure Group operates several businesses, hotels and
brands in the travel sector, all of which have immediately closed
down, Business Sale discloses.
National Holidays ran coach holidays from locations including North
Yorkshire, Middlesbrough, Stockton, Darlington, Durham and
Newcastle. All trips booked with the firm have been cancelled,
Business Sale notes. Its closure has been put down to the impact
of coronavirus, Business Sale relays, citing a spokesperson from
the parent company.
Other brands in the group include Country Living Hotels, Bay Hotels
and Shearings. All in all 64,000 bookings have been cancelled,
Business Sale states.
According to Business Sale, ABTA said most of the bookings were for
coach package holidays, which were protected, meaning customers
should be getting full refunds.
Here is a listing of the hotels operated by the Specialist Leisure
Group, and are now under the control of the administrators at EY.
Many of these hotels were believed to be very profitable before the
coronavirus crisis, Business Sale notes.
-- Bay Dilkhusa Grand Hotel, Ilfracombe
-- Bay Carlton Hotel, Great Yarmouth
-- Bay Prince of Wales Hotel, Berkeley
-- Bay Great Western Hotel, Oban
-- Bay Highland Hotel, Strathpeffer
-- Bay Royal Whitby Hotel, Whitby
-- Bay Tarbet Hotel, Loch Lomond
-- Bay Broadway Park Hotel, Sandown
-- Bay Marina Hotel, Newquay
-- Bay Majestic Bournemouth Hotel, Bournemouth
-- Bay Eden Arms Hotel, Rushyford
-- Bay Majestic Eastbourne Hotel, Eastbourne
-- Bay Grand Hotel, Exmouth
-- Bay Marine Hotel, Llandudno
-- Bay Royal Weymouth Hotel, Weymouth
-- Bay Caledonian Hotel, Fort William
-- Bay New Southlands Hotel, Scarborough
-- Bay Libertys Hotel, Blackpool
-- Bay Norbreck Hotel, Scarborough
-- Bay Torbay Hotel, Torquay
-- Bay Esplanade Hotel, Paignton
-- Bay St Ives Bay Hotel, St Ives
-- Bay Tor Park Hotel, Torquay
-- Bay Waverley Castle Hotel, Melrose
-- Bay Burlington Hotel, Eastbourne
-- Bay County Hotel, Llandudno
-- Bay Valley of Rocks Hotel, Lynton
-- Bay Beresford Hotel, Newquay
-- Bay Strathmore Hotel, Morecambe
-- Bay Savoy Hotel, Bournemouth
-- Bay Grand Atlantic Hotel, Weston-super-Mare
Coast & Country Hotels
-- The George Hotel, Chollerford
-- The Imperial Exmouth Hotel, Exmouth
-- The Golden Lion, Hunstanton
-- The Derwentwater Hotel, Keswick
-- The Pitlochry Hydro Hotel, Pitlochry
-- The Portpatrick Hotel, Portpatrick
-- The Ship & Castle Hotel, St Mawes
-- The Charlecote Pheasant, Stratford upon Avon
-- The Imperial Tenby, Tenby
-- The Grand Atlantic, Weston-super-Mare
-- The Windermere Hotel, Windermere
Country Living Hotels
-- Country Living Lansdown Grove, Bath
-- Country Living St George, Harrogate
Also closing are the Wallace Arnold travel shops, UKBreakAways.com,
SportingBreaks.com and Caledonian Travel, according to Business
Sale.
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week May 18 to May 22, 2020
-----------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------- -----
Intelsat Luxembourg SA 8.125 6/1/2023 USD 41.539
Intelsat Connect Finance 9.500 2/15/2023 USD 60.918
Moby SpA 7.750 2/15/2023 EUR 32.000
Valaris plc 7.750 2/1/2026 USD 48.981
Nostrum Oil & Gas Finance8.000 7/25/2022 USD 46.164
Petra Diamonds US Treasur7.250 5/1/2022 USD 61.344
Casino Guichard Perrachon3.992 EUR 55.482
Naviera Armas SA 6.500 7/31/2023 EUR 72.933
Valaris plc 8.000 1/31/2024 USD 56.708
Vallourec SA 2.250 9/30/2024 EUR 72.632
Mitsubishi UFJ Investor S4.092 12/15/2050 EUR 70.994
Valaris plc 4.875 6/1/2022 USD 72.700
Vallourec SA 4.125 10/4/2022 EUR 5.619
Pro-Gest SpA 3.250 12/15/2024 EUR 64.758
Mallinckrodt Internationa5.750 8/1/2022 USD 53.256
Valaris plc 5.750 10/1/2044 USD 40.160
Ageasfinlux SA 0.950 EUR 71.357
Rallye SA 4.000 4/2/2021 EUR 27.070
Naviera Armas SA 4.250 11/15/2024 EUR 67.800
Officine Maccaferri-SpA 5.750 6/1/2021 EUR 35.407
Nostrum Oil & Gas Finance7.000 2/16/2025 USD 45.094
Astaldi SpA 7.125 12/1/2020 EUR 12.932
Valaris plc 5.200 3/15/2025 USD 48.548
Casino Guichard Perrachon1.154 EUR 36.602
Distribuidora Internacion0.875 4/6/2023 EUR 53.583
Ferroglobe PLC / Globe Sp9.375 3/1/2022 USD 73.707
Valaris plc 4.500 10/1/2024 USD 49.851
Maisons du Monde SA 0.125 12/6/2023 EUR 42.131
Thomas Cook Group PLC 6.250 6/15/2022 EUR 6.875
Intralot Capital Luxembou6.750 9/15/2021 EUR 64.032
Quadient 3.375 EUR 59.169
HI Bidco AS 7.300 10/30/2022 NOK 58.219
Valaris plc 7.375 6/15/2025 USD 55.552
Offshore Drilling Holding8.375 9/20/2020 USD 31.787
Rallye SA 4.371 1/23/2023 EUR 27.025
Debenhams PLC 5.250 7/15/2021 GBP 21.000
Jain International Tradin7.125 2/1/2022 USD 31.637
Air France-KLM 0.125 3/25/2026 EUR 17.922
Intralot Capital Luxembou5.250 9/15/2024 EUR 43.055
Valaris plc 4.750 1/15/2024 USD 54.663
Cooperativa Muratori & Ce6.000 2/15/2023 EUR 2.549
Abengoa Abenewco 2 Bis SA1.500 4/26/2024 EUR
ADLER Real Estate AG 2.500 7/19/2021 EUR 14.780
Mallinckrodt Internationa5.625 10/15/2023 USD 43.841
Neoen SA 1.875 10/7/2024 EUR 38.303
HI Bidco AS 9.800 1/30/2023 NOK 21.072
Valaris plc 5.850 1/15/2044 USD 44.013
Mallinckrodt Internationa5.500 4/15/2025 USD 40.932
Mallinckrodt Internationa4.750 4/15/2023 USD 47.847
Hema Bondco II BV 8.500 1/15/2023 EUR 45.021
Boparan Finance PLC 4.375 7/15/2021 EUR 73.330
Econocom Group SA/NV 0.500 3/6/2023 EUR 7.119
Intelsat Connect Finance 9.500 2/15/2023 USD 61.569
Cooperativa Muratori & Ce6.875 8/1/2022 EUR 2.467
Senvion Holding GmbH 3.875 10/25/2022 EUR 6.000
Senivita Social Estate AG6.500 5/12/2020 EUR 56.400
Rallye SA 3.250 2/8/2024 CHF 26.000
Korian SA 2.500 EUR 49.797
Genfit 3.500 10/16/2022 EUR 24.639
Pierre & Vacances SA 2.000 4/1/2023 EUR 54.631
Yell Bondco PLC 8.500 5/2/2023 GBP 61.411
Astaldi SpA 4.875 6/21/2024 EUR 11.802
FF Group Finance Luxembou1.750 7/3/2019 EUR 4.500
HOCHDORF Holding AG 2.500 CHF 54.079
Ferroglobe PLC / Globe Sp9.375 3/1/2022 USD 73.478
Top Gun Realisations 74 P6.500 7/1/2022 GBP 18.791
O1 Properties Finance PLC8.250 9/27/2021 USD 40.000
FF Group Finance Luxembou3.250 11/2/2021 CHF 10.246
Pizzaexpress Financing 1 8.625 8/1/2022 GBP 35.739
Greenyard Fresh NV 3.750 12/22/2021 EUR 69.732
KCA Deutag UK Finance PLC7.250 5/15/2021 USD 69.046
Valaris plc 5.400 12/1/2042 USD 43.610
Boparan Finance PLC 5.500 7/15/2021 GBP 73.053
Banco Espirito Santo SA 4.000 1/21/2019 EUR 25.244
EA Partners I BV 6.875 9/28/2020 USD 45.074
Galapagos Holding SA 7.000 6/15/2022 EUR 7.684
Rallye SA 5.250 2/1/2022 EUR 27.513
Rallye SA 4.000 11/23/2020 CHF 26.556
Transcapitalbank JSC Via 10.000 9/18/2020 USD 54.906
KCA Deutag UK Finance PLC9.875 4/1/2022 USD 69.900
Immigon Portfolioabbau AG5.980 EUR 15.866
Bourbon Corp 6.446 EUR 2.651
FIGEAC-AERO 1.125 10/18/2022 EUR 23.775
Alno AG 8.500 5/14/2018 EUR 11.527
Privatbank CJSC Via UK SP11.000 2/9/2021 USD 9.532
EA Partners II BV 6.750 6/1/2021 USD 48.500
Grupo Isolux Corsan SA 6.000 12/30/2021 EUR 0.398
Steinhoff Finance Holding1.250 10/21/2023 EUR 41.118
Air Berlin PLC 8.250 4/19/2018 EUR 1.999
Grupo Isolux Corsan SA 1.000 12/30/2021 EUR 1.453
Thomas Cook Finance 2 PLC3.875 7/15/2023 EUR 7.056
Santhera Pharmaceuticals 5.000 2/17/2022 CHF 55.749
CNP Assurances 2.000 EUR 75.000
Bilt Paper BV 9.640 USD 1.004
Petra Diamonds US Treasur7.250 5/1/2022 USD 61.611
Allied Irish Banks PLC 12.500 6/25/2035 GBP 70.751
Quant AB 6.000 2/15/2023 EUR 70.738
Banco Espirito Santo SA 2.625 5/8/2017 EUR 24.550
House of Fraser Funding P6.504 9/15/2020 GBP 4.517
Stobart Finance PLC 2.750 5/8/2024 GBP 74.000
UkrLandFarming PLC 10.875 3/26/2018 USD 4.250
KCA Deutag UK Finance PLC9.625 4/1/2023 USD 69.370
Lehman Brothers UK Capita5.125 EUR 7.092
Mitsubishi UFJ Investor S3.859 12/30/2099 EUR 4.853
Scandinavian Airlines Sys0.625 CHF 36.872
Lambay Capital Securities6.250 GBP 0.574
Rickmers Holding AG 8.875 6/11/2018 EUR 1.682
Nexity SA 0.125 1/1/2023 EUR 66.293
Prime Living AB 7.201 10/19/2023 SEK 5.000
Evan Group PLC 6.000 7/31/2022 EUR 70.963
Lehman Brothers UK Capita6.900 USD 2.745
Avangardco Investments Pu10.000 10/29/2018 USD 6.000
Privatbank CJSC Via UK SP10.250 1/23/2018 USD 30.529
Banco Espirito Santo SA 7.125 11/28/2023 EUR 0.075
Nostrum Oil & Gas Finance8.000 7/25/2022 USD 46.047
Bank Otkritie Financial C10.000 4/26/2019 USD 9.701
Rallye SA 3.400 1/31/2022 EUR 28.000
Hellenic Bank PCL 10.000 EUR 49.907
LA Perla Fashion Finance 7.250 3/29/2023 EUR 39.215
Air Berlin PLC 6.750 5/9/2019 EUR 1.782
Virgolino de Oliveira Fin11.750 2/9/2022 USD 4.022
Hamon & CIE SA 3.300 1/30/2025 EUR 50.000
Virgolino de Oliveira Fin10.500 1/28/2018 USD 3.000
Alno AG 8.000 3/21/2019 EUR 15.250
Alitalia-Societa Aerea It5.250 7/30/2020 EUR 6.000
Portugal Telecom Internat6.250 7/26/2016 EUR 1.198
Yuksel Insaat AS 9.500 11/10/2015 USD 1.000
Nexity SA 0.250 3/2/2025 EUR 69.492
Banco Espirito Santo SA 4.750 1/15/2018 EUR 25.549
Afren PLC 6.625 12/9/2020 USD 0.051
Civitas Properties Financ4.000 11/24/2022 EUR 74.500
Eramet 4.000 EUR 51.385
Koninklijke Luchtvaart Ma0.750 CHF 37.100
Rallye SA 1.000 10/2/2020 EUR 27.125
Claranova SADIR 5.000 7/1/2023 EUR 1.180
Agrokor dd 9.125 2/1/2020 EUR 19.247
Stichting Afwikkeling Ond6.250 10/26/2020 EUR 1.000
KCA Deutag UK Finance PLC9.875 4/1/2022 USD 69.926
Espirito Santo Financial 6.875 10/21/2019 EUR 0.130
DOF Subsea AS 9.500 3/14/2022 USD 66.448
Abengoa Abenewco 2 Bis SA1.500 4/26/2024 USD 6.350
Nostrum Oil & Gas Finance7.000 2/16/2025 USD 45.224
Orient Express Bank PJSC 10.000 USD 40.081
EDOB Abwicklungs AG 7.500 4/1/2012 EUR 0.466
Cirio Holding Luxembourg 6.250 2/16/2004 EUR 0.822
New World Resources NV 4.000 10/7/2020 EUR 0.021
DOF Subsea AS 8.830 5/22/2020 NOK 70.000
Lehman Brothers UK Capita3.875 EUR 7.125
Afren PLC 11.500 2/1/2016 USD 0.017
EOS Imaging SA 6.000 5/31/2023 EUR 5.797
KCA Deutag UK Finance PLC7.250 5/15/2021 USD 69.869
Mallinckrodt Internationa5.625 10/15/2023 USD 43.175
KTG Agrar SE 7.125 6/6/2017 EUR 0.561
Stichting Afwikkeling Ond11.250 EUR 1.109
JZ Capital Partners Ltd 6.000 7/30/2021 GBP 9.800
APP International Finance11.750 10/1/2005 USD 0.769
Top Gun Realisations 73 P8.000 7/1/2023 GBP 1.189
Banca Popolare di Vicenza2.821 12/20/2017 EUR 0.200
Dexia Credit Local SA 1.317 EUR 6.758
Lloyds Bank PLC 1.380 7/5/2033 USD 67.931
Europejskie Centrum Odszk5.790 4/14/2020 PLN 71.000
OGX Austria GmbH 8.500 6/1/2018 USD 0.001
BBVA International Prefer1.574 GBP 66.500
Paragon GmbH & Co KGaA 4.000 4/23/2024 CHF 73.000
Agrokor dd 8.875 2/1/2020 USD 19.364
Dexia SA 1.382 EUR 7.642
Abengoa Abenewco 2 Bis SA1.500 4/26/2024 USD 6.500
ESFIL-Espirito Santo Fina5.250 6/12/2015 EUR 0.060
KCA Deutag UK Finance PLC9.625 4/1/2023 USD 69.752
Banca Popolare di Vicenza9.500 9/29/2025 EUR 0.038
Banco Espirito Santo SA 2.237 EUR 0.086
Agrokor dd 9.875 5/1/2019 EUR 19.336
Region of Abruzzo Italy 0.036 11/7/2036 EUR 64.574
Caixa Economica Montepio 5.000 EUR 51.000
Prime Living AB 4.598 9/29/2022 SEK 34.380
Portigon AG 7.460 6/1/2020 EUR 19.000
New World Resources NV 8.000 4/7/2020 EUR 1.454
Air Berlin PLC 5.625 5/9/2019 CHF 1.363
HOCHDORF Holding AG 3.500 3/30/2020 CHF 26.600
Mallinckrodt Internationa5.750 8/1/2022 USD 52.115
Societe Centrale des Bois2.500 5/15/2023 EUR 6.880
Offshore Drilling Holding8.375 9/20/2020 USD 32.439
Mallinckrodt Internationa5.500 4/15/2025 USD 41.092
BIM SAS 2.500 11/13/2020 EUR 22.436
Kaupthing ehf 7.625 2/28/2015 USD 0.250
Manchester Building Socie6.750 GBP 20.676
CBo Territoria 3.750 7/1/2024 EUR 4.900
Privatbank CJSC Via UK SP10.875 2/28/2018 USD 31.133
Tonon Luxembourg SA 9.250 1/24/2020 USD 0.536
Norske Skog Holding AS 8.000 2/24/2021 EUR 0.084
Waste Italia SpA 10.500 11/15/2019 EUR 1.000
DOF Subsea AS 9.850 11/27/2023 NOK 58.476
SeniVita Sozial gGmbH 7.000 EUR 23.100
Tresu Investment Holding 5.000 9/29/2022 EUR 41.625
LBI ehf 6.100 8/25/2011 USD 7.375
Sairgroup Finance BV 4.375 6/8/2006 EUR 0.409
Veneto Banca SpA 9.500 12/1/2025 EUR 0.788
Norske Skogindustrier ASA7.000 12/30/2026 EUR 0.036
Cattles Ltd 8.125 7/5/2017 GBP 0.001
International Industrial 9.000 7/6/2011 EUR 0.059
Cirio Finance Luxembourg 7.500 11/3/2002 EUR 2.278
Cirio Del Monte NV 7.750 3/14/2005 EUR 0.450
Solstad Offshore ASA 5.380 9/24/2021 NOK 4.667
YA Holding AB 3.020 6/18/2022 SEK 56.629
Rena GmbH 7.000 12/15/2015 EUR 2.096
Lehman Brothers UK Capita5.750 EUR 1.500
Idea Bank SA 5.090 8/14/2020 PLN 71.000
Virgolino de Oliveira Fin10.875 1/13/2020 USD 21.677
Deutsche Bank AG/London 0.032 10/31/2034 USD 69.875
Praktiker AG 5.875 2/10/2016 EUR 0.542
Russian Federal Bond - OF0.250 7/20/2044 RUB 24.815
Verimatrix SA 6.000 6/29/2022 EUR 3.751
Cooperatieve Rabobank UA 0.500 2/26/2029 HUF 70.780
Chr Bygga Bostader Holdin9.163 7/5/2021 SEK 50.000
Alpine Holding GmbH 6.000 5/22/2017 EUR 0.477
Del Monte Finance Luxembo6.625 5/24/2006 EUR 1.709
Banco Espirito Santo SA 6.875 7/15/2016 EUR 24.785
Kaupthing ehf 5.750 10/4/2011 USD 0.250
Manchester Building Socie8.000 GBP 20.559
Hellas Telecommunications6.054 1/15/2015 USD 0.033
Banco Espirito Santo SA 2.417 EUR 0.217
GEWA 5 to 1 GmbH & Co KG 6.500 3/24/2018 EUR 5.260
Boparan Finance PLC 4.375 7/15/2021 EUR 73.325
Norske Skogindustrier ASA2.000 12/30/2115 EUR 0.415
Bulgaria Steel Finance BV12.000 5/4/2013 EUR 0.216
Elli Investments Ltd 12.250 6/15/2020 GBP 52.501
German Pellets GmbH 7.250 11/27/2019 EUR 0.672
OGX Austria GmbH 8.500 6/1/2018 USD 0.001
EFG International AG 0.286 EUR 45.000
Aralco Finance SA 10.125 5/7/2020 USD 1.880
International Finance Fac0.500 6/24/2024 ZAR 74.180
Windreich GmbH 6.500 7/15/2016 EUR 8.000
KTG Agrar SE 7.250 10/15/2019 EUR 0.561
WPE International Coopera10.375 9/30/2020 USD 3.417
German Pellets GmbH 7.250 7/9/2018 EUR 0.582
Naviera Armas SA 4.250 11/15/2024 EUR 68.509
Banco Espirito Santo SA 6.900 6/28/2024 EUR 25.226
NTRP Via Interpipe Ltd 10.250 8/2/2017 USD 30.000
Pizzaexpress Financing 1 8.625 8/1/2022 GBP 35.739
Afren PLC 10.250 4/8/2019 USD 0.034
Erotik-Abwicklungsgesells7.750 7/9/2019 EUR 0.779
Senvion Holding GmbH 3.875 10/25/2022 EUR 6.000
PA Resources AB 13.500 3/3/2016 SEK 0.124
Espirito Santo Financial 3.125 12/2/2018 EUR 0.103
OGX Austria GmbH 8.375 4/1/2022 USD 0.001
Sequa Petroleum NV 5.000 4/29/2020 USD 68.238
Espirito Santo Financial 9.750 12/19/2025 EUR 0.790
Finmek International SA 7.000 12/3/2004 EUR 2.193
Astaldi SpA 7.125 12/1/2020 EUR 12.932
Moby SpA 7.750 2/15/2023 EUR 32.000
UkrLandFarming PLC 10.875 3/26/2018 USD 5.121
Hellas Telecommunications8.500 10/15/2013 EUR 0.444
Pro-Gest SpA 3.250 12/15/2024 EUR 64.389
CRC Breeze Finance SA 6.110 5/8/2026 EUR 50.250
Saleza AS 9.000 7/12/2021 EUR 0.213
Corporate Commercial Bank8.250 8/8/2014 USD 0.289
Steilmann SE 7.000 3/9/2017 EUR 1.429
Vneshprombank Ltd Via VPB9.000 11/14/2016 USD 0.326
Societe Generale SA 12.000 5/29/2020 USD 29.106
Eniro AB 6.000 4/14/2020 SEK 75.226
Cooperatieve Rabobank UA 0.500 7/30/2043 MXN 17.959
Breeze Finance SA 6.708 4/19/2027 EUR 28.950
Solship Invest 1 AS 5.000 12/8/2024 NOK 10.000
Enertronica Santerno SpA 7.000 12/31/2022 EUR 51.000
International Industrial 11.000 2/19/2013 USD 0.156
Cooperatieve Rabobank UA 0.500 10/29/2027 MXN 57.658
Kommunekredit 0.500 7/30/2027 TRY 41.379
Mriya Agro Holding PLC 10.950 3/30/2016 USD 7.875
KPNQwest NV 8.875 2/1/2008 EUR 0.634
Ideal Standard Internatio11.750 5/1/2018 EUR 0.240
Naviera Armas SA 6.500 7/31/2023 EUR 72.976
Sairgroup Finance BV 6.625 10/6/2010 EUR 0.409
Intralot Capital Luxembou5.250 9/15/2024 EUR 43.000
Golfino AG 8.000 11/18/2023 EUR 0.010
Cooperatieve Rabobank UA 0.500 10/30/2043 MXN 17.297
Gebr Sanders GmbH & Co KG8.750 10/22/2018 EUR 14.406
Norske Skogindustrier ASA7.125 10/15/2033 USD 0.036
Island Offshore Shipholdi4.090 6/30/2021 NOK 13.000
Norske Skog Holding AS 8.000 2/24/2023 USD 0.214
HPI AG 3.500 EUR 3.000
State Transport Leasing C7.550 1/18/2030 RUB 60.010
Alpine Holding GmbH 5.250 7/1/2015 EUR 0.477
Bank Nadra Via NDR Financ8.250 7/31/2018 USD 0.208
Solon SE 1.375 12/6/2012 EUR 0.769
getgoods.de AG 7.750 10/2/2017 EUR 0.126
Galapagos Holding SA 7.000 6/15/2022 EUR 7.684
Virgolino de Oliveira Fin11.750 2/9/2022 USD 3.407
Alpine Holding GmbH 5.250 6/10/2016 EUR 0.478
Steilmann SE 6.750 6/27/2017 EUR 2.184
Stichting Afwikkeling Ond2.358 EUR 1.109
Steilmann SE 7.000 9/23/2018 EUR 1.429
Finance and Credit Bank J9.250 1/25/2019 USD 0.993
Centrosolar Group AG 7.000 2/15/2016 EUR 2.387
Region of Molise Italy 0.060 12/15/2033 EUR 60.913
Dolphin Drilling ASA 4.490 8/28/2019 NOK 0.296
KPNQwest NV 10.000 3/15/2012 EUR 0.634
Windreich GmbH 6.500 3/1/2015 EUR 8.000
Societe Generale SA 7.000 10/20/2020 USD
Stichting Afwikkeling Ond6.625 5/14/2018 EUR 1.000
Vseukrainsky Aktsinerny B10.900 6/14/2019 USD 1.056
Abengoa Abenewco 2 Bis SA1.500 4/26/2024 EUR 6.200
Thomas Cook Group PLC 6.250 6/15/2022 EUR 6.875
Officine Maccaferri-SpA 5.750 6/1/2021 EUR 35.407
Societe Generale SA 12.000 7/8/2021 USD 42.300
Mox Telecom AG 7.250 11/2/2017 EUR 1.295
Credit Suisse AG/London 12.000 7/3/2020 USD 47.450
Industrial S.p.A. 5.300 8/7/2021 EUR 105.22
Afren PLC 11.500 2/1/2016 USD 0.017
Phosphorus Holdco PLC 10.000 4/1/2019 GBP 2.671
Banco Santander SA 2.008 EUR 3.289
BOA Offshore AS 0.409 7/17/2047 NOK 8.112
Intralot Capital Luxembou6.750 9/15/2021 EUR 65.463
Leonteq Securities AG/Gue1.600 1/28/2022 EUR 39.790
Sberbank of Russia PJSC 1.165 1/27/2025 RUB 80.000
Virgolino de Oliveira Fin10.500 1/28/2018 USD 3.000
Virgolino de Oliveira Fin10.875 1/13/2020 USD 21.677
Sberbank of Russia PJSC 1.054 7/16/2024 RUB 80.000
International Finance Fac0.500 6/29/2027 ZAR 55.404
Decipher Production Ltd 12.500 9/27/2019 USD 1.500
Pescanova SA 5.125 4/20/2017 EUR 0.443
Hema Bondco II BV 8.500 1/15/2023 EUR 45.448
Havila Shipping ASA 6.360 11/7/2020 NOK 60.338
Ahtium PLC 4.000 12/16/2015 EUR 0.586
International Bank of Aze8.250 10/9/2024 USD 61.250
Air Berlin Finance BV 6.000 3/6/2019 EUR 2.433
O1 Properties Finance PLC7.000 1/29/2021 USD 72.183
Ahtium PLC 9.750 4/4/2017 EUR 0.976
Sberbank of Russia PJSC 0.010 2/28/2020 RUB 98.700
KPNQwest NV 7.125 6/1/2009 EUR 0.634
Linas Matkasse Newco AB 8.195 10/9/2022 SEK 55.000
Afren PLC 6.625 12/9/2020 USD 0.051
Bibby Offshore Services P7.500 6/15/2021 GBP 11.113
Yell Bondco PLC 8.500 5/2/2023 GBP 61.653
SALVATOR Vermoegensverwal9.500 12/31/2021 EUR 6.300
Agrokor dd 8.875 2/1/2020 USD 19.364
Mifa Mitteldeutsche Fahrr7.500 8/12/2018 EUR 2.411
Deutsche Agrar Holding Gm7.250 9/28/2018 EUR 1.254
Evrofinansy-Nedvizhimost 1.500 10/23/2020 RUB 100.00
Landesbank Schleswig-Hols2.239 1/5/2040 USD 50.306
Rena GmbH 8.250 7/11/2018 EUR 2.096
Portugal Telecom Internat5.242 11/6/2017 EUR 0.694
New World Resources NV 4.000 10/7/2020 EUR 0.021
Tonon Luxembourg SA 12.500 5/14/2024 USD 0.445
SiC Processing GmbH 7.125 3/1/2016 EUR 2.858
Mriya Agro Holding PLC 9.450 4/19/2018 USD 7.875
Kardan NV 6.325 1/15/2020 ILS 6.580
Veneto Banca SpA 6.950 2/25/2025 EUR 0.100
Muehl Product & Service A6.750 3/10/2005 DEM 0.032
Credito Padano Banca di C3.100 EUR 34.123
Activa Resources AG 0.500 11/15/2021 EUR 5.110
Sberbank of Russia PJSC 1.169 1/21/2025 RUB 80.030
Barclays Bank PLC 1.376 10/10/2029 USD 71.394
Barclays Bank PLC 0.252 6/17/2033 USD 72.173
SAG Solarstrom AG 6.250 12/14/2015 EUR 31.000
Golden Gate AG 6.500 10/11/2014 EUR 38.260
Stichting Afwikkeling Ond8.450 8/20/2018 USD 1.000
A-TEC Industries AG 2.750 5/10/2014 EUR 0.141
IT Holding Finance SA 9.875 11/15/2012 EUR 0.202
HSBC Bank PLC 0.500 12/22/2025 BRL 67.327
Depfa Funding III LP 0.378 EUR 56.730
Rio Forte Investments SA 4.000 7/22/2014 EUR 5.615
Veneto Banca SpA 6.944 5/15/2025 EUR 0.436
WEB Windenergie AG 4.000 12/17/2025 EUR 55.010
New World Resources NV 8.000 4/7/2020 EUR 1.454
Air Berlin Finance BV 8.500 3/6/2019 EUR 2.750
Credit Suisse AG/London 10.200 2/3/2023 USD 9.780
WPE International Coopera10.375 9/30/2020 USD 3.417
Espirito Santo Financial 5.050 11/15/2025 EUR 0.239
Depfa Funding II LP 6.500 EUR 59.250
Royalbeach Spielwaren Und7.375 11/10/2020 EUR 2.420
Veneto Banca SpA 6.411 EUR 0.369
AKB Peresvet ZAO 0.510 2/14/2032 RUB 12.000
Pescanova SA 8.750 2/17/2019 EUR 0.443
Finans-Avia OOO 10.000 7/31/2022 RUB 7.380
Atari SA 0.100 4/1/2020 EUR 7.060
Societe Generale SA 13.200 12/11/2020 USD 63.100
O1 Properties Finance AO 13.000 10/2/2020 RUB 99.000
Landesbank Baden-Wuerttem0.400 2/7/2040 EUR 0.000
Cooperatieve Rabobank UA 0.500 12/29/2027 MXN 56.130
Top Gun Realisations 73 P8.000 7/1/2023 GBP 1.189
SAir Group 5.500 7/23/2003 CHF 9.875
O1 Properties Finance PLC8.250 9/27/2021 USD 47.774
Waste Italia SpA 10.500 11/15/2019 EUR 1.000
Thomas Cook Finance 2 PLC3.875 7/15/2023 EUR 7.031
Lehman Brothers Treasury 2.000 3/16/2035 EUR 3.400
SAG Solarstrom AG 7.500 7/10/2017 EUR 31.000
Lloyds Bank PLC 0.500 7/26/2028 MXN 53.151
Marine Subsea AS 9.000 12/16/2019 USD 0.688
Barclays Bank PLC 12.860 5/28/2020 USD 66.000
Northland Resources AB 15.000 7/15/2019 USD 2.621
AlphaNotes ETP Dac 0.010 9/9/2029 USD 72.607
Afren PLC 10.250 4/8/2019 USD 0.034
Credit Suisse AG/London 10.000 3/13/2020 USD 4.000
MS Deutschland Beteiligun6.875 12/18/2017 EUR 1.820
Cooperativa Muratori & Ce6.875 8/1/2022 EUR 2.467
UniCredit Bank AG 6.600 7/20/2028 EUR 43.660
Leonteq Securities AG 12.000 8/28/2020 CHF 14.930
Agrokor dd Via Aquarius +4.921 8/8/2017 EUR 14.375
WEB Windenergie AG 5.250 4/8/2023 EUR 55.010
Heta Asset Resolution AG 7.500 12/31/2023 ATS 1.748
Northland Resources AB 4.000 10/15/2020 NOK 0.138
Bank Otkritie Financial C10.000 4/26/2019 USD 9.701
Polski Bank Spoldzielczy 5.290 9/14/2027 PLN 21.000
Irish Bank Resolution Cor4.000 4/23/2018 EUR 42.733
Mobylife Holding A/S 7.407 5/23/2020 SEK 8.125
mybet Holding SE 6.250 12/12/2020 EUR 0.500
Boparan Finance PLC 5.500 7/15/2021 GBP 73.345
Raiffeisen Centrobank AG 6.000 7/21/2020 EUR 57.790
BNP Paribas SA 1.000 1/23/2040 MXN 39.569
Havila Shipping ASA 5.000 11/7/2020 NOK 50.387
SpareBank 1 SR-Bank ASA 1.383 12/21/2030 EUR 72.506
Lehman Brothers Treasury 1.692 10/5/2035 EUR 3.400
Lehman Brothers Treasury 6.650 8/24/2011 AUD 3.400
Privatbank CJSC Via UK SP10.875 2/28/2018 USD 31.133
Cooperatieve Rabobank UA 0.500 1/31/2033 MXN 36.587
Heta Asset Resolution AG 0.064 12/31/2023 EUR 1.748
Lehman Brothers Treasury 1.692 11/2/2035 EUR 3.400
Societe Generale SA 12.000 4/2/2020 USD 44.900
A-TEC Industries AG 8.750 10/27/2014 EUR 0.141
Agrokor dd 9.125 2/1/2020 EUR 19.247
Teksid Aluminum Luxembour12.375 7/15/2011 EUR 0.338
Norske Skog Holding AS 8.000 2/24/2021 EUR 0.084
Raiffeisen Schweiz Genoss6.250 2/17/2020 CHF 55.810
EFG International Finance6.130 6/20/2024 EUR 43.770
German Pellets GmbH 7.250 4/1/2016 EUR 0.622
Municipality Finance PLC 0.500 6/19/2024 ZAR 73.256
Societe Generale SA 8.600 7/29/2022 USD 53.150
Top Gun Realisations 74 P6.500 7/1/2022 GBP 18.791
ING Bank NV 6.500 12/30/2020 EUR 72.600
BKZ Finance OAO 6.000 12/6/2030 RUB 85.000
Kaupthing ehf 9.000 USD 0.122
Barclays Bank PLC 2.000 6/12/2029 TRY 40.523
Plaza Centers NV 6.900 7/1/2020 ILS 21.350
Finans-Avia OOO 0.010 7/31/2027 RUB 3.670
Corner Banca SA 12.400 11/2/2020 CHF 63.000
Cooperativa Muratori & Ce6.000 2/15/2023 EUR 2.549
Banca Popolare di Vicenza9.500 10/2/2025 EUR 0.094
Phosphorus Holdco PLC 10.000 4/1/2019 GBP 2.671
Hellas Telecommunications6.054 1/15/2015 USD 0.033
Heta Asset Resolution AG 0.148 12/31/2023 EUR 1.748
Zaklady Miesne Henryk Kan6.950 3/29/2021 PLN
UniCredit Bank AG 4.000 5/14/2020 EUR 69.430
Spoldzielczy Bank Rozwoju5.290 7/16/2025 PLN 52.000
Natixis SA 0.300 6/25/2048 USD 47.850
Solarwatt GmbH 7.000 11/1/2015 EUR 15.500
Trinfiko Holdings ZAO 10.000 3/20/2024 RUB 100.00
Heta Asset Resolution AG 5.920 12/31/2023 EUR 1.748
Pescanova SA 6.750 3/5/2015 EUR 0.443
mybet Holding SE 6.250 12/11/2020 EUR 20.000
Aralco Finance SA 10.125 5/7/2020 USD 1.880
Banco Espirito Santo SA 10.000 12/6/2021 EUR 0.075
Grupo Isolux Corsan SA 6.000 12/30/2021 USD 0.398
Deutsche Bank AG/London 0.500 10/18/2038 MXN 19.932
Bilt Paper BV 9.640 USD 1.004
Barclays Bank PLC 1.450 9/24/2038 MXN 28.821
BLT Finance BV 12.000 2/10/2015 USD 10.500
SG Issuer SA 5.500 4/10/2021 EUR 70.160
Agrokor dd 9.875 5/1/2019 EUR 19.336
Leonteq Securities AG 14.000 6/12/2020 CHF 6.130
Transneft PJSC 9.650 6/30/2023 RUB 68.070
Credit Suisse AG/London 6.250 10/31/2025 USD 11.734
Leonteq Securities AG 7.200 2/2/2021 EUR 60.460
SALVATOR Vermoegensverwal9.500 EUR 15.400
Bank Otkritie Financial C0.010 9/24/2025 RUB 64.070
SAir Group 6.250 10/27/2002 CHF 9.875
IT Holding Finance SA 9.875 11/15/2012 EUR 0.202
COFIDUR SA 0.100 12/31/2024 EUR 25.800
WEB Windenergie AG 6.250 EUR 55.010
SAir Group 5.125 3/1/2003 CHF 13.500
SAir Group 0.125 7/7/2005 CHF 9.875
Minicentrales Dos SA 0.010 6/6/2047 EUR 65.750
Norske Skogindustrier ASA7.125 10/15/2033 USD 0.036
Petromena ASA 10.850 11/19/2018 USD 0.607
Kaupthing ehf 7.625 2/28/2015 USD 0.250
Minicentrales Dos SA 0.010 6/6/2047 EUR 65.750
KPNQwest NV 8.125 6/1/2009 USD 0.634
Ideal Standard Internatio11.750 5/1/2018 EUR 0.240
Credito Padano Banca di C3.100 EUR 34.345
La Veggia Finance SA 7.125 11/14/2004 EUR 0.287
UniCredit Bank AG 12.300 6/26/2020 EUR 63.090
Fast Finance SA 10.500 1/15/2021 PLN
Erste Group Bank AG 5.800 1/31/2023 EUR 65.550
KPNQwest NV 7.125 6/1/2009 EUR 0.634
Grupo Isolux Corsan SA 0.250 12/30/2018 EUR 1.453
ECM Real Estate Investmen5.000 10/9/2011 EUR 15.375
Kaupthing ehf 6.125 10/4/2016 USD 0.250
AKB Peresvet ZAO 0.510 8/4/2034 RUB 17.100
Cooperatieve Rabobank UA 0.500 8/21/2028 MXN 52.862
Zaklady Miesne Henryk Kan6.950 3/29/2021 PLN
Raiffeisen Schweiz Genoss5.250 2/9/2021 CHF 39.410
RENE LEZARD Mode GmbH 7.250 11/25/2017 EUR 1.400
Gold-Zack AG 7.000 12/14/2005 EUR 9.050
Bulgaria Steel Finance BV12.000 5/4/2013 EUR 0.216
A-TEC Industries AG 5.750 11/2/2010 EUR 0.141
Northland Resources AB 4.000 10/15/2020 USD 0.138
PSN Pm OOO 9.500 9/10/2026 RUB 21.625
OGX Austria GmbH 8.375 4/1/2022 USD 0.001
Bibby Offshore Services P7.500 6/15/2021 GBP 11.113
Commerzbank AG 6.000 6/6/2022 USD 2.070
EFG International Finance10.500 2/7/2022 EUR 75.550
Cooperatieve Rabobank UA 0.500 11/30/2027 MXN 56.143
Grupo Isolux Corsan SA 1.000 12/30/2021 USD 1.453
Otkritie Holding JSC 10.000 4/20/2028 RUB
Pongs & Zahn AG 8.500 EUR 0.016
Irish Bank Resolution Cor6.750 11/30/2013 BGN 42.750
KPNQwest NV 8.875 2/1/2008 EUR 0.634
Norske Skog Holding AS 8.000 2/24/2023 USD 0.214
Cerruti Finance SA 6.500 7/26/2004 EUR 1.389
DekaBank Deutsche Girozen0.010 6/29/2046 EUR 74.620
SAir Group 4.250 2/2/2007 CHF 9.875
Barclays Bank PLC 0.500 1/28/2033 MXN 35.169
Lehman Brothers Treasury 7.250 10/6/2008 EUR 2.571
Lehman Brothers Treasury 5.103 6/22/2046 EUR 2.571
Kaupthing ehf 3.092 ISK 0.250
Leonteq Securities AG/Gue9.800 6/12/2020 CHF 66.620
SAir Group 6.250 4/12/2005 CHF 9.875
Northland Resources AB 15.000 7/15/2019 USD 2.621
Danske Bank A/S 10.300 7/9/2023 SEK 55.300
Credit Suisse AG/London 4.360 2/28/2020 EUR 67.000
Commerzbank AG 1.000 11/2/2020 USD 18.680
WEB Windenergie AG 5.500 4/8/2023 EUR 55.010
Lehman Brothers Treasury 0.500 12/20/2017 AUD 2.571
Espirito Santo Financial 0.515 10/27/2024 EUR 1.217
Norske Skogindustrier ASA7.000 12/30/2026 EUR 0.036
Heta Asset Resolution AG 0.370 12/31/2023 EUR 1.748
Hellenic Republic Governm2.085 7/25/2057 EUR 50.339
Lehman Brothers Treasury 6.600 2/22/2012 EUR 2.571
Espirito Santo Financial 5.125 5/30/2016 EUR 1.677
House of Fraser Funding P6.504 9/15/2020 GBP 4.517
DekaBank Deutsche Girozen4.810 6/30/2020 EUR 53.240
Commerzbank AG 5.350 3/2/2020 USD 54.040
Leonteq Securities AG 10.000 3/2/2020 EUR 52.030
Raiffeisen Schweiz Genoss10.300 2/19/2020 EUR 62.880
Bayerische Landesbank 2.800 3/13/2020 EUR 73.840
UniCredit Bank AG 4.500 8/6/2021 EUR 68.610
Laurel GmbH 7.125 11/16/2017 EUR 7.750
Lehman Brothers Treasury 14.900 9/15/2008 EUR 2.571
Lehman Brothers Treasury 11.750 3/1/2010 EUR 2.571
AKB Peresvet ZAO 13.250 4/25/2018 RUB 18.000
Credit Suisse AG/London 12.500 7/24/2020 USD 25.680
Lehman Brothers Treasury 2.875 3/14/2013 CHF 3.750
Lehman Brothers Treasury 10.000 6/11/2038 JPY 2.571
Windreich GmbH 6.250 3/1/2015 EUR 8.000
MIK OAO 15.000 2/19/2020 RUB 60.020
DekaBank Deutsche Girozen7.000 2/28/2020 EUR 72.440
Commerzbank AG 13.200 9/19/2023 SEK 77.000
Raiffeisen Schweiz Genoss5.500 5/4/2020 CHF 54.770
EFG International Finance5.150 6/10/2020 EUR 40.570
Fonciere Volta SA 4.500 7/30/2020 EUR 2.360
Business-Consulting OAO 6.000 12/6/2030 RUB 65.000
Sberbank of Russia PJSC 0.010 5/22/2023 RUB 73.110
LBI ehf 7.431 USD 0.001
Otkritie Holding JSC 12.090 12/8/2027 RUB 0.010
Petromena ASA 9.750 5/24/2016 NOK 0.607
Bayerische Landesbank 2.300 9/11/2020 EUR 73.530
SAir Group 2.750 7/30/2004 CHF 9.875
EDOB Abwicklungs AG 7.500 4/1/2012 EUR 0.466
Norske Skogindustrier ASA2.000 12/30/2115 EUR 0.415
HSBC Bank PLC 0.500 6/23/2027 MXN 58.207
Lehman Brothers Treasury 0.500 12/20/2017 USD 2.571
Lehman Brothers Treasury 7.600 1/31/2013 AUD 2.571
SAir Group 2.125 11/4/2004 CHF 9.875
Windreich GmbH 6.750 3/1/2015 EUR 8.000
Tonon Luxembourg SA 12.500 5/14/2024 USD 0.445
DZ Bank AG Deutsche Zentr8.000 2/26/2020 EUR 73.760
Commerzbank AG 6.000 5/9/2022 USD 1.000
UBS AG/London 6.000 2/28/2020 CHF 60.650
Leonteq Securities AG/Gue2.750 9/15/2022 CHF 31.750
UniCredit Bank AG 3.800 7/23/2020 EUR 38.800
Landesbank Baden-Wuerttem4.800 2/28/2020 EUR 62.480
Archer Finance OOO 9.250 3/29/2022 RUB 0.590
UniCredit Bank AG 4.500 11/18/2020 EUR 40.720
Astana Finance BV 7.875 6/8/2010 EUR 16.000
Nutritek International Co8.750 12/11/2008 USD 2.089
Intelsat SA 4.500 6/15/2025 USD 44.250
Credit Suisse AG/London 6.500 3/28/2022 USD 3.910
State of Saxony-Anhalt 0.134 7/3/2028 EUR 42.000
Kaupthing ehf 7.500 12/5/2014 ISK 0.250
Kaupthing ehf 4.390 10/14/2008 CZK 0.250
Rosbank PJSC 0.020 4/30/2024 RUB 60.000
Heta Asset Resolution AG 5.730 12/31/2023 EUR 1.748
Rio Forte Investments SA 4.750 11/10/2015 EUR 5.394
Barclays Bank PLC 10.500 5/29/2020 USD 33.490
EFG International Finance6.400 6/22/2020 CHF 51.740
Leonteq Securities AG/Gue6.000 5/22/2020 CHF 66.300
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 63.080
UniCredit Bank AG 3.750 9/7/2020 EUR 40.970
UniCredit Bank AG 3.730 3/12/2020 EUR 65.200
UBS AG/London 11.500 3/9/2020 CHF 73.250
UBS AG/London 10.000 3/9/2020 CHF 56.200
Landesbank Baden-Wuerttem2.230 5/22/2020 EUR 74.660
Spoldzielczy Bank Rozwoju5.290 3/12/2025 PLN 70.000
Raiffeisen Centrobank AG 8.000 3/3/2020 EUR 61.870
Bank Julius Baer & Co Ltd6.250 10/5/2020 CHF 71.250
Bayerische Landesbank 2.500 9/10/2021 EUR 71.560
Bayerische Landesbank 3.200 7/3/2020 EUR 71.610
Kaupthing ehf 5.750 10/4/2011 USD 0.250
Rio Forte Investments SA 3.900 7/10/2014 USD 5.500
Otkritie Holding JSC 12.140 10/3/2036 RUB 60.010
UniCredit Bank AG 5.200 5/4/2020 USD 43.400
Landesbank Hessen-Thuerin6.600 2/17/2023 EUR 50.360
Sberbank of Russia PJSC 7.550 7/12/2021 RUB 70.020
Landesbank Hessen-Thuerin6.250 12/22/2022 EUR 55.150
EFG International Finance7.000 5/23/2022 EUR 65.100
Commerzbank AG 2.540 4/15/2020 EUR 67.800
Societe Generale SA 9.000 7/22/2022 USD 47.100
Samaratransneft-Terminal 12.000 4/27/2022 RUB 19.000
Tonon Luxembourg SA 9.250 1/24/2020 USD 0.536
Lehman Brothers Treasury 5.250 4/1/2023 EUR 2.571
Natixis SA 2.100 6/8/2021 EUR 47.395
Leonteq Securities AG 4.000 12/18/2026 CHF 67.670
UniCredit Bank AG 3.630 3/12/2020 EUR 57.880
Leonteq Securities AG/Gue10.000 3/16/2020 USD 52.450
UBS AG/London 12.500 3/16/2020 CHF 36.050
Landesbank Hessen-Thuerin5.700 6/16/2022 EUR 64.330
UniCredit Bank AG 4.100 10/1/2020 EUR 52.650
City of Predeal Romania 3.500 5/15/2026 RON 60.000
Raiffeisen Schweiz Genoss5.750 2/25/2021 CHF 61.680
Gazprombank JSC 0.010 11/24/2022 RUB 72.270
Bayerische Landesbank 3.100 7/31/2020 EUR 71.060
Bank Julius Baer & Co Ltd7.650 6/8/2020 EUR 62.600
Landesbank Hessen-Thuerin4.000 2/17/2021 EUR 74.180
Landesbank Hessen-Thuerin5.550 3/16/2023 EUR 56.100
Astana Finance BV 9.000 11/16/2011 USD 15.250
Lehman Brothers Treasury 1.500 10/25/2011 EUR 2.571
Lehman Brothers Treasury 4.680 12/12/2045 EUR 2.571
Lehman Brothers Treasury 6.000 3/18/2015 USD 3.400
Municipality Finance PLC 0.250 6/28/2040 CAD 36.439
DekaBank Deutsche Girozen5.000 2/28/2020 EUR 56.440
SAir Group 2.750 7/30/2004 CHF 9.875
Kaupthing ehf 3.750 2/1/2045 USD 0.100
Lehman Brothers Treasury 13.500 11/28/2008 USD 2.571
SG Issuer SA 3.000 10/10/2034 ZAR 43.579
Lehman Brothers Treasury 12.400 6/12/2009 USD 2.571
Lehman Brothers Treasury 1.000 5/9/2012 EUR 2.571
Lehman Brothers Treasury 8.875 1/28/2011 HKD 3.400
Lehman Brothers Treasury 6.250 9/5/2011 EUR 2.571
Espirito Santo Financial 5.625 7/28/2017 EUR 1.226
Credit Suisse AG 0.500 12/16/2025 BRL 67.395
LBI ehf 8.650 5/1/2011 ISK 7.375
Bayerische Landesbank 2.500 8/21/2020 EUR 74.630
Bayerische Landesbank 3.550 8/21/2020 EUR 62.300
Bayerische Landesbank 3.150 7/31/2020 EUR 61.860
Bayerische Landesbank 3.100 7/10/2020 EUR 58.910
Bayerische Landesbank 3.000 7/17/2020 EUR 66.020
Bayerische Landesbank 3.100 10/23/2020 EUR 65.400
Raiffeisen Switzerland BV5.600 11/2/2020 CHF 66.000
UBS AG/London 12.000 6/19/2020 USD 44.110
Leonteq Securities AG 16.200 6/4/2020 EUR 72.810
Landesbank Hessen-Thuerin5.900 2/2/2024 EUR 74.580
Credit Suisse AG/London 4.590 2/28/2020 EUR 39.790
Banque Cantonale Vaudoise6.300 9/7/2020 CHF 61.270
Bayerische Landesbank 3.400 10/2/2020 EUR 65.510
Credit Suisse AG/London 7.250 4/24/2020 USD 41.400
Bayerische Landesbank 4.000 5/3/2020 EUR 70.850
Landesbank Hessen-Thuerin4.750 3/3/2020 EUR 71.000
Corner Banca SA 8.200 5/14/2020 CHF 27.080
UniCredit Bank AG 3.750 12/21/2021 EUR 69.510
Bayerische Landesbank 2.800 6/5/2020 EUR 74.120
Societe Generale SA 0.933 4/30/2024 USD 69.200
Leonteq Securities AG 5.600 5/16/2022 CHF 66.030
Bayerische Landesbank 2.200 10/30/2020 EUR 74.430
Leonteq Securities AG/Gue5.200 6/12/2020 CHF 64.810
Landesbank Hessen-Thuerin5.100 2/17/2023 EUR 59.850
Bayerische Landesbank 2.800 4/3/2020 EUR 71.520
Landesbank Hessen-Thuerin6.500 2/16/2023 EUR 70.450
Bayerische Landesbank 3.100 11/13/2020 EUR 74.630
LBI ehf 7.431 USD 0.001
ECM Real Estate Investmen5.000 10/9/2011 EUR 15.375
Kreditanstalt fuer Wieder0.250 10/6/2036 CAD 46.508
Credit Suisse AG/London 0.500 1/8/2026 BRL 67.131
Lehman Brothers Treasury 5.220 3/1/2024 EUR 2.571
Espirito Santo Financial 5.050 11/15/2025 EUR 0.564
LBI ehf 2.250 2/14/2011 CHF 7.375
Lehman Brothers Treasury 4.250 3/13/2021 EUR 2.571
Bayerische Landesbank 2.700 8/20/2021 EUR 71.130
Bayerische Landesbank 3.300 9/11/2020 EUR 63.940
Bayerische Landesbank 2.600 11/13/2020 EUR 74.270
Bayerische Landesbank 3.000 2/21/2020 EUR 74.500
Deutsche Bank AG/London 2.000 10/25/2023 TRY 61.965
Lehman Brothers Treasury 3.630 3/2/2012 EUR 2.571
Northland Resources AB 12.250 3/26/2016 USD 2.621
Mriya Agro Holding PLC 9.450 4/19/2018 USD 7.875
Societe Generale SA 0.500 5/22/2024 MXN 73.788
Lehman Brothers Treasury 1.500 2/8/2012 CHF 2.571
Rosbank PJSC 0.010 4/30/2024 RUB 60.000
Credit Suisse AG/London 11.000 6/22/2020 USD 76.860
Natixis SA 2.750 3/1/2021 USD 66.596
Rosbank PJSC 0.030 4/30/2024 RUB 60.000
Landesbank Baden-Wuerttem3.000 9/25/2020 EUR 70.690
Credit Suisse AG/London 6.500 4/30/2021 USD 3.910
Lehman Brothers Treasury 10.000 3/27/2009 USD 2.571
Bank Otkritie Financial C0.010 7/16/2025 RUB 67.000
Lehman Brothers Treasury 7.320 7/31/2013 GBP 2.571
Elli Investments Ltd 12.250 6/15/2020 GBP 52.501
TransFin-M PAO 10.500 6/28/2027 RUB 60.010
Lehman Brothers Treasury 1.750 2/7/2010 EUR 2.571
Lehman Brothers Treasury 13.500 6/2/2009 USD 2.571
Lehman Brothers Treasury 10.442 11/22/2008 CHF 2.571
Rosbank PJSC 0.040 4/30/2024 RUB 60.000
Samaratransneft-Terminal 10.000 3/30/2022 RUB 20.000
Landesbank Hessen-Thuerin5.650 7/20/2023 EUR 67.120
UniCredit Bank AG 4.200 7/26/2022 EUR 64.990
DekaBank Deutsche Girozen2.000 7/30/2021 EUR 70.070
Landesbank Baden-Wuerttem4.850 2/28/2020 EUR 69.860
Landesbank Baden-Wuerttem4.000 2/28/2020 EUR 59.000
Leonteq Securities AG/Gue6.000 1/20/2021 CHF 60.000
UBS AG/London 6.250 7/13/2020 CHF 26.040
UBS AG/London 5.250 7/13/2020 CHF 57.300
Landesbank Hessen-Thuerin2.750 5/20/2021 EUR 60.100
Raiffeisen Schweiz Genoss6.800 7/20/2020 CHF 56.300
UBS AG/London 12.040 7/9/2020 USD 10.045
UniCredit Bank AG 7.000 12/24/2021 EUR 67.290
UniCredit Bank AG 7.500 12/24/2021 EUR 73.530
UniCredit Bank AG 8.400 3/27/2020 EUR 64.510
UniCredit Bank AG 8.800 12/24/2021 EUR 72.440
UniCredit Bank AG 12.800 3/27/2020 EUR 71.940
UniCredit Bank AG 9.300 12/24/2021 EUR 71.630
UniCredit Bank AG 9.500 12/24/2021 EUR 71.350
Commerzbank AG 11.500 6/26/2020 EUR 60.080
Bank Julius Baer & Co Ltd6.750 7/13/2020 EUR 75.300
Commerzbank AG 12.500 6/26/2020 EUR 67.920
UBS AG/London 6.250 6/21/2021 CHF 57.200
UBS AG/London 6.000 6/29/2020 CHF 44.050
UBS AG/London 6.250 6/29/2020 CHF 55.200
UBS AG/London 7.500 6/29/2020 EUR 53.500
UBS AG/London 6.000 12/28/2020 CHF 55.950
Zurcher Kantonalbank Fina6.500 7/3/2020 CHF 38.400
Landesbank Hessen-Thuerin3.500 8/3/2022 EUR 53.120
Raiffeisen Schweiz Genoss5.200 1/6/2021 CHF 57.210
Landesbank Hessen-Thuerin5.750 8/3/2023 EUR 69.320
DekaBank Deutsche Girozen3.100 7/31/2020 EUR 71.590
DekaBank Deutsche Girozen3.000 7/31/2020 EUR 61.110
Landesbank Baden-Wuerttem2.000 7/24/2020 EUR 57.400
Landesbank Baden-Wuerttem3.500 7/24/2020 EUR 51.400
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 48.000
Landesbank Baden-Wuerttem2.000 7/24/2020 EUR 66.350
Landesbank Baden-Wuerttem3.000 7/24/2020 EUR 61.740
Landesbank Baden-Wuerttem4.000 7/24/2020 EUR 58.700
Landesbank Baden-Wuerttem2.000 7/24/2020 EUR 67.600
Landesbank Baden-Wuerttem3.000 7/24/2020 EUR 62.580
Landesbank Baden-Wuerttem4.000 7/24/2020 EUR 58.800
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 55.940
Landesbank Baden-Wuerttem3.000 7/24/2020 EUR 79.870
Landesbank Baden-Wuerttem3.500 7/24/2020 EUR 70.100
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 62.460
Landesbank Baden-Wuerttem6.500 7/24/2020 EUR 57.550
Landesbank Baden-Wuerttem5.500 7/24/2020 EUR 68.810
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 74.690
Landesbank Baden-Wuerttem6.500 7/24/2020 EUR 69.560
Landesbank Baden-Wuerttem2.000 7/24/2020 EUR 69.120
Landesbank Baden-Wuerttem3.500 7/24/2020 EUR 62.710
Landesbank Baden-Wuerttem2.000 7/24/2020 EUR 66.570
Landesbank Baden-Wuerttem3.500 7/24/2020 EUR 59.820
Landesbank Baden-Wuerttem2.000 7/24/2020 EUR 55.000
Landesbank Baden-Wuerttem3.500 7/24/2020 EUR 49.480
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 45.850
Landesbank Baden-Wuerttem2.000 7/24/2020 EUR 73.260
Landesbank Baden-Wuerttem2.500 7/24/2020 EUR 27.060
Landesbank Baden-Wuerttem4.000 7/24/2020 EUR 24.810
Landesbank Baden-Wuerttem2.500 7/24/2020 EUR 65.980
Landesbank Baden-Wuerttem3.500 7/24/2020 EUR 61.780
Landesbank Baden-Wuerttem4.500 7/24/2020 EUR 58.950
Landesbank Baden-Wuerttem4.000 7/24/2020 EUR 73.570
UBS AG/London 11.000 6/29/2020 CHF 58.250
UBS AG/London 7.000 6/29/2020 CHF 73.000
UBS AG/London 6.500 6/29/2020 CHF 54.900
DekaBank Deutsche Girozen7.000 2/1/2021 EUR 57.390
UBS AG/London 3.200 3/26/2020 EUR 60.700
Credit Suisse AG/Nassau 7.000 1/13/2021 CHF 60.360
Leonteq Securities AG 7.600 7/13/2021 CHF 63.780
Leonteq Securities AG/Gue6.200 1/13/2021 CHF 61.130
UniCredit Bank AG 14.200 12/28/2020 EUR 68.410
UniCredit Bank AG 10.100 6/25/2021 EUR 64.330
UniCredit Bank AG 9.000 6/25/2021 EUR 64.870
UniCredit Bank AG 9.000 6/25/2021 EUR 72.270
UniCredit Bank AG 8.000 6/25/2021 EUR 72.440
UniCredit Bank AG 7.000 6/25/2021 EUR 73.920
UniCredit Bank AG 7.000 6/25/2021 EUR 66.690
UniCredit Bank AG 8.000 6/25/2021 EUR 65.700
UniCredit Bank AG 7.400 6/25/2021 EUR 74.210
UniCredit Bank AG 10.600 6/25/2021 EUR 70.800
Landesbank Hessen-Thuerin3.500 8/17/2022 EUR 68.120
Leonteq Securities AG 5.400 7/25/2022 CHF 65.890
HSBC Trinkaus & Burkhardt5.300 6/26/2020 EUR 66.480
HSBC Trinkaus & Burkhardt5.400 6/26/2020 EUR 45.880
HSBC Trinkaus & Burkhardt5.200 6/26/2020 EUR 74.610
UBS AG/London 9.000 7/20/2020 CHF 64.700
UBS AG/London 6.000 7/20/2020 CHF 56.300
UBS AG/London 6.500 7/20/2020 EUR 51.650
Credit Suisse AG/Nassau 7.250 7/30/2020 EUR 74.740
Landesbank Baden-Wuerttem4.000 10/22/2021 EUR 74.320
DekaBank Deutsche Girozen4.000 8/21/2020 EUR 55.140
Landesbank Baden-Wuerttem3.700 8/27/2021 EUR 71.990
Raiffeisen Schweiz Genoss5.800 8/3/2020 EUR 50.640
UBS AG/London 8.000 7/20/2020 CHF 55.800
Leonteq Securities AG/Gue6.200 7/27/2021 CHF 54.240
UniCredit Bank AG 5.350 8/24/2021 EUR 72.970
Leonteq Securities AG 10.000 8/3/2020 CHF 30.860
Raiffeisen Schweiz Genoss7.500 7/27/2020 CHF 55.000
Leonteq Securities AG/Gue10.000 7/27/2020 CHF 59.440
DekaBank Deutsche Girozen3.100 8/21/2020 EUR 66.480
DekaBank Deutsche Girozen3.150 8/21/2020 EUR 67.150
Landesbank Baden-Wuerttem2.300 8/27/2021 EUR 58.700
DekaBank Deutsche Girozen8.150 2/26/2021 EUR 58.890
Leonteq Securities AG 6.200 8/6/2020 CHF 56.370
Goldman Sachs & Co Wertpa12.000 6/24/2020 EUR 64.080
Goldman Sachs & Co Wertpa9.000 3/25/2020 EUR 68.970
Goldman Sachs & Co Wertpa12.000 3/25/2020 EUR 63.820
Goldman Sachs & Co Wertpa9.000 6/24/2020 EUR 68.230
UniCredit Bank AG 6.000 6/25/2021 EUR 67.860
UniCredit Bank AG 11.300 6/25/2021 EUR 74.300
UniCredit Bank AG 8.700 12/24/2021 EUR 72.120
UniCredit Bank AG 9.400 6/25/2021 EUR 71.450
UniCredit Bank AG 10.200 6/25/2021 EUR 70.250
UniCredit Bank AG 11.300 6/25/2021 EUR 69.420
UniCredit Bank AG 12.000 6/25/2021 EUR 68.480
UniCredit Bank AG 10.700 6/25/2021 EUR 69.830
UniCredit Bank AG 5.100 6/25/2021 EUR 69.350
UniCredit Bank AG 5.500 12/24/2021 EUR 69.150
UniCredit Bank AG 8.600 12/24/2021 EUR 66.200
UniCredit Bank AG 6.200 12/24/2021 EUR 68.050
UniCredit Bank AG 13.600 3/27/2020 EUR 59.300
UniCredit Bank AG 6.300 3/27/2020 EUR 67.620
UniCredit Bank AG 10.800 3/27/2020 EUR 61.740
UniCredit Bank AG 7.700 12/24/2021 EUR 66.490
UniCredit Bank AG 12.500 3/27/2020 EUR 71.960
UniCredit Bank AG 14.900 6/25/2021 EUR 72.210
UniCredit Bank AG 7.000 12/24/2021 EUR 73.920
Raiffeisen Schweiz Genoss5.700 12/29/2020 EUR 73.520
Credit Suisse AG/Nassau 7.200 7/5/2021 CHF 61.720
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 70.840
UniCredit Bank AG 8.900 12/29/2020 EUR 51.490
UniCredit Bank AG 7.300 12/29/2020 EUR 71.050
UniCredit Bank AG 6.800 12/29/2020 EUR 58.640
UniCredit Bank AG 7.400 12/29/2020 EUR 57.580
UniCredit Bank AG 9.100 12/29/2020 EUR 49.530
UniCredit Bank AG 8.300 12/29/2020 EUR 72.170
UniCredit Bank AG 6.000 12/29/2020 EUR 54.370
UniCredit Bank AG 8.400 12/29/2020 EUR 43.890
UniCredit Bank AG 9.200 12/29/2020 EUR 43.130
UniCredit Bank AG 6.700 12/29/2020 EUR 46.200
UniCredit Bank AG 8.500 12/29/2020 EUR 49.560
UniCredit Bank AG 10.100 12/29/2020 EUR 47.140
UniCredit Bank AG 6.800 12/29/2020 EUR 48.200
UniCredit Bank AG 7.400 12/29/2020 EUR 46.720
UniCredit Bank AG 6.100 12/29/2020 EUR 56.030
UniCredit Bank AG 6.800 12/29/2020 EUR 54.500
UniCredit Bank AG 6.600 12/29/2020 EUR 59.350
UniCredit Bank AG 9.300 12/29/2020 EUR 54.780
UniCredit Bank AG 9.400 12/29/2020 EUR 61.640
UniCredit Bank AG 7.200 12/29/2020 EUR 65.050
UniCredit Bank AG 14.800 12/29/2020 EUR 29.590
UniCredit Bank AG 6.500 12/29/2020 EUR 59.280
UniCredit Bank AG 12.200 12/29/2020 EUR 32.210
UniCredit Bank AG 9.300 12/29/2020 EUR 53.800
UniCredit Bank AG 6.900 12/29/2020 EUR 69.450
UniCredit Bank AG 10.600 12/29/2020 EUR 53.850
UniCredit Bank AG 11.200 12/29/2020 EUR 52.940
UniCredit Bank AG 6.200 12/29/2020 EUR 71.550
UniCredit Bank AG 10.100 12/29/2020 EUR 50.110
UniCredit Bank AG 7.800 12/29/2020 EUR 69.790
UniCredit Bank AG 10.800 12/29/2020 EUR 73.180
UniCredit Bank AG 9.500 12/29/2020 EUR 69.720
UniCredit Bank AG 7.300 12/29/2020 EUR 70.370
UniCredit Bank AG 6.700 12/29/2020 EUR 72.010
UniCredit Bank AG 8.200 12/29/2020 EUR 72.100
UniCredit Bank AG 8.800 12/29/2020 EUR 75.420
UniCredit Bank AG 7.900 12/29/2020 EUR 41.950
UniCredit Bank AG 8.900 12/29/2020 EUR 40.320
UniCredit Bank AG 7.500 12/29/2020 EUR 73.910
UniCredit Bank AG 8.400 12/29/2020 EUR 70.740
UniCredit Bank AG 9.500 12/29/2020 EUR 68.230
UniCredit Bank AG 7.800 12/29/2020 EUR 64.950
UniCredit Bank AG 6.400 12/29/2020 EUR 68.040
UniCredit Bank AG 6.600 12/29/2020 EUR 63.710
UniCredit Bank AG 6.500 12/29/2020 EUR 63.800
UniCredit Bank AG 7.200 12/29/2020 EUR 26.290
UniCredit Bank AG 8.100 12/29/2020 EUR 60.550
UniCredit Bank AG 7.300 12/29/2020 EUR 62.000
UniCredit Bank AG 8.700 12/29/2020 EUR 65.980
UniCredit Bank AG 6.500 12/29/2020 EUR 26.480
UniCredit Bank AG 8.000 12/29/2020 EUR 67.740
UniCredit Bank AG 10.700 12/29/2020 EUR 56.970
UniCredit Bank AG 9.100 12/29/2020 EUR 60.260
UniCredit Bank AG 7.000 12/29/2020 EUR 55.310
UniCredit Bank AG 10.900 12/29/2020 EUR 74.350
UniCredit Bank AG 8.100 12/29/2020 EUR 75.800
UniCredit Bank AG 12.000 12/29/2020 EUR 52.370
UniCredit Bank AG 8.300 12/29/2020 EUR 53.270
UniCredit Bank AG 7.200 12/29/2020 EUR 62.060
UniCredit Bank AG 9.000 12/29/2020 EUR 47.400
UniCredit Bank AG 7.900 12/29/2020 EUR 48.900
UBS AG/London 8.000 7/20/2020 EUR 53.350
Goldman Sachs & Co Wertpa8.000 3/25/2020 EUR 75.250
Goldman Sachs & Co Wertpa13.000 6/24/2020 EUR 71.110
Leonteq Securities AG/Gue2.500 6/5/2024 EUR 58.590
UBS AG/London 7.000 6/8/2020 CHF 71.900
UBS AG/London 5.750 11/23/2020 CHF 57.400
UBS AG/London 10.750 6/8/2020 CHF 63.550
UBS AG/London 6.500 12/7/2020 EUR 56.450
UBS AG/London 7.250 6/8/2020 USD 64.320
Landesbank Baden-Wuerttem2.500 8/25/2023 EUR 73.000
Landesbank Hessen-Thuerin2.750 8/31/2020 EUR 69.800
Leonteq Securities AG 7.000 8/3/2020 EUR 72.370
Goldman Sachs & Co Wertpa10.000 3/25/2020 EUR 68.850
Goldman Sachs & Co Wertpa8.000 6/24/2020 EUR 74.240
Goldman Sachs & Co Wertpa13.000 6/24/2020 EUR 62.070
Landesbank Hessen-Thuerin4.000 8/31/2022 EUR 73.080
Leonteq Securities AG/Gue10.280 6/11/2020 CHF 72.210
UBS AG/London 6.100 6/25/2020 EUR 55.490
Natixis SA 3.150 6/8/2021 USD 46.430
Leonteq Securities AG 5.000 6/15/2021 CHF 52.320
Leonteq Securities AG/Gue7.000 6/15/2020 CHF 54.340
DekaBank Deutsche Girozen2.700 4/17/2020 EUR 53.300
UBS AG/London 11.000 3/12/2020 USD 56.270
UBS AG/London 6.250 9/14/2020 CHF 67.650
UBS AG/London 12.000 3/12/2020 EUR 29.500
Societe Generale SA 8.000 9/12/2020 USD 57.820
Raiffeisen Schweiz Genoss7.100 6/15/2020 CHF 53.350
Societe Generale Effekten9.140 3/20/2020 EUR 64.090
Landesbank Hessen-Thuerin2.000 3/29/2022 EUR 73.160
Credit Suisse AG/London 10.500 3/23/2020 USD 66.380
UBS AG/London 11.000 3/12/2020 CHF 57.650
UBS AG/London 11.000 3/12/2020 CHF 58.200
UBS AG/London 7.500 3/12/2020 EUR 67.600
DekaBank Deutsche Girozen2.200 4/16/2021 EUR 56.590
Landesbank Hessen-Thuerin5.200 10/22/2024 EUR 67.430
DekaBank Deutsche Girozen6.300 10/9/2020 EUR 59.420
UBS AG/London 7.250 3/5/2020 CHF 70.600
UBS AG/London 11.000 3/5/2020 CHF 56.250
UBS AG/London 10.000 9/7/2020 CHF 43.500
Leonteq Securities AG/Gue8.000 3/17/2020 CHF 49.320
SecurAsset SA 5.250 6/30/2022 EUR 42.250
DekaBank Deutsche Girozen4.300 1/4/2021 EUR 52.320
DekaBank Deutsche Girozen7.050 10/9/2020 EUR 45.090
Raiffeisen Centrobank AG 10.286 3/24/2020 EUR 68.590
Leonteq Securities AG 5.200 12/22/2020 CHF 54.920
UBS AG/London 12.000 3/5/2020 CHF 71.250
Raiffeisen Centrobank AG 5.500 10/9/2020 EUR 59.300
UBS AG/London 7.000 12/14/2020 CHF 55.900
DekaBank Deutsche Girozen4.250 10/9/2020 EUR 51.400
UBS AG/London 10.250 6/15/2020 CHF 49.900
UBS AG/London 11.000 3/6/2020 USD 64.150
Landesbank Hessen-Thuerin4.000 4/20/2022 EUR 56.650
Leonteq Securities AG/Gue6.000 9/17/2020 CHF 51.910
Credit Suisse AG/Nassau 7.000 6/22/2021 CHF 58.000
Raiffeisen Centrobank AG 3.857 3/24/2020 EUR 74.260
UBS AG/London 4.200 6/25/2020 EUR 66.090
Raiffeisen Schweiz Genoss7.000 9/14/2020 CHF 68.860
UniCredit Bank AG 4.650 4/16/2021 EUR 52.410
DekaBank Deutsche Girozen3.900 4/25/2022 EUR 69.600
DekaBank Deutsche Girozen2.900 10/2/2020 EUR 66.940
Raiffeisen Centrobank AG 5.300 7/21/2020 EUR 58.050
Societe Generale Effekten11.121 9/18/2020 EUR 66.550
Leonteq Securities AG 10.000 3/17/2020 CHF 61.810
DekaBank Deutsche Girozen2.750 4/17/2020 EUR 67.940
Raiffeisen Schweiz Genoss8.500 3/17/2020 CHF 67.540
Landesbank Hessen-Thuerin4.000 7/20/2022 EUR 74.910
UniCredit Bank AG 6.300 10/16/2021 EUR 45.460
Natixis SA 3.500 3/23/2020 USD 44.149
Raiffeisen Schweiz Genoss6.600 4/3/2020 EUR 52.900
UniCredit Bank AG 4.850 10/9/2021 EUR 71.650
DekaBank Deutsche Girozen3.700 10/2/2020 EUR 56.090
Societe Generale Effekten9.901 3/20/2020 EUR 36.180
DekaBank Deutsche Girozen3.000 1/18/2021 EUR 59.350
DekaBank Deutsche Girozen3.000 9/18/2020 EUR 73.200
Landesbank Baden-Wuerttem2.500 10/23/2020 EUR 52.330
Landesbank Baden-Wuerttem5.000 10/23/2020 EUR 45.400
UBS AG/London 9.000 10/19/2020 USD 53.150
Raiffeisen Centrobank AG 3.921 3/24/2020 EUR 74.740
Commerzbank AG 5.250 3/27/2020 EUR 72.340
Commerzbank AG 9.250 3/27/2020 EUR 63.770
Commerzbank AG 13.250 3/27/2020 EUR 58.600
Commerzbank AG 11.500 5/22/2020 EUR 73.170
Commerzbank AG 11.000 4/24/2020 EUR 59.880
DZ Bank AG Deutsche Zentr7.750 3/25/2020 EUR 66.220
Landesbank Baden-Wuerttem3.000 2/28/2020 EUR 71.980
Landesbank Baden-Wuerttem5.000 2/28/2020 EUR 64.270
Landesbank Baden-Wuerttem7.000 2/28/2020 EUR 60.040
HSBC Trinkaus & Burkhardt8.200 2/28/2020 EUR 62.000
HSBC Trinkaus & Burkhardt10.000 3/27/2020 EUR 58.780
HSBC Trinkaus & Burkhardt7.900 6/26/2020 EUR 63.640
HSBC Trinkaus & Burkhardt8.300 3/27/2020 EUR 71.000
UBS AG/London 7.500 9/21/2020 USD 47.290
Landesbank Baden-Wuerttem3.600 7/24/2020 EUR 71.410
EFG International Finance13.150 12/17/2020 USD 72.420
EFG International Finance9.800 9/21/2021 EUR 58.770
Landesbank Baden-Wuerttem3.000 2/28/2020 EUR 64.710
Societe Generale Effekten14.647 6/19/2020 EUR 76.890
Societe Generale Effekten15.867 6/19/2020 EUR 74.730
Leonteq Securities AG/Gue5.000 5/5/2020 EUR 54.170
Vontobel Financial Produc11.500 3/13/2020 EUR 74.600
HSBC Trinkaus & Burkhardt5.200 6/26/2020 EUR 71.850
HSBC Trinkaus & Burkhardt7.600 6/26/2020 EUR 57.670
HSBC Trinkaus & Burkhardt6.500 6/26/2020 EUR 57.280
HSBC Trinkaus & Burkhardt5.800 6/26/2020 EUR 57.030
HSBC Trinkaus & Burkhardt4.400 6/26/2020 EUR 56.530
HSBC Trinkaus & Burkhardt3.600 6/26/2020 EUR 71.250
HSBC Trinkaus & Burkhardt7.000 6/26/2020 EUR 64.430
HSBC Trinkaus & Burkhardt5.700 6/26/2020 EUR 63.960
HSBC Trinkaus & Burkhardt6.200 6/26/2020 EUR 64.030
Vontobel Financial Produc14.500 3/13/2020 EUR 72.880
Vontobel Financial Produc14.500 3/13/2020 EUR 72.760
Vontobel Financial Produc13.000 3/13/2020 EUR 56.910
Raiffeisen Schweiz Genoss6.000 9/1/2020 CHF 71.910
Landesbank Baden-Wuerttem6.000 3/26/2021 EUR 74.180
Landesbank Baden-Wuerttem3.000 3/26/2021 EUR 69.830
Landesbank Baden-Wuerttem5.500 3/26/2021 EUR 54.280
UBS AG/London 11.000 9/7/2020 EUR 70.000
UBS AG/London 9.000 9/7/2020 EUR 65.700
UBS AG/London 14.000 3/26/2020 EUR 61.240
UBS AG/London 9.000 3/26/2020 EUR 68.610
UBS AG/London 9.600 3/26/2020 EUR 69.910
UBS AG/London 6.000 6/25/2020 EUR 74.330
UBS AG/London 5.500 6/25/2020 EUR 74.580
UBS AG/London 20.500 3/26/2020 EUR 72.230
UBS AG/London 6.400 6/25/2020 EUR 71.530
UBS AG/London 8.200 6/25/2020 EUR 69.080
UBS AG/London 15.600 3/26/2020 EUR 60.930
UBS AG/London 7.400 3/26/2020 EUR 71.570
UBS AG/London 7.700 3/26/2020 EUR 71.910
UBS AG/London 6.700 12/28/2020 EUR 75.370
UBS AG/London 7.400 3/26/2020 EUR 72.310
UBS AG/London 7.700 6/25/2020 EUR 70.420
DZ Bank AG Deutsche Zentr12.000 3/25/2020 EUR 55.750
Landesbank Baden-Wuerttem4.600 3/27/2020 EUR 73.980
HSBC Trinkaus & Burkhardt0.750 4/22/2020 EUR 69.220
Landesbank Baden-Wuerttem5.000 3/26/2021 EUR 77.250
Landesbank Baden-Wuerttem4.500 3/26/2021 EUR 65.120
Landesbank Baden-Wuerttem3.000 3/26/2021 EUR 59.300
Vontobel Financial Produc21.500 3/13/2020 EUR 71.500
Bank J Safra Sarasin AG/G10.400 3/5/2020 CHF 54.580
UBS AG/London 21.000 3/26/2020 EUR 67.280
UBS AG/London 9.200 3/26/2020 EUR 69.660
UBS AG/London 9.400 3/26/2020 EUR 67.050
UBS AG/London 5.800 6/25/2020 EUR 72.970
UBS AG/London 5.300 3/26/2020 EUR 74.780
UBS AG/London 8.400 3/26/2020 EUR 70.080
UBS AG/London 6.600 3/26/2020 EUR 74.150
UBS AG/London 14.600 3/26/2020 EUR 73.870
UBS AG/London 12.900 6/25/2020 EUR 61.770
UBS AG/London 6.300 3/26/2020 EUR 73.130
UBS AG/London 8.700 6/25/2020 EUR 67.810
UBS AG/London 9.000 4/3/2020 CHF 71.950
UBS AG/London 9.000 10/5/2020 EUR 49.550
DZ Bank AG Deutsche Zentr8.400 3/23/2020 EUR 56.650
Vontobel Financial Produc10.000 3/27/2020 EUR 52.150
UBS AG/London 8.750 8/17/2020 CHF 37.300
UBS AG/London 9.500 8/17/2020 CHF 63.550
UBS AG/London 8.000 8/17/2020 EUR 50.300
UBS AG/London 8.000 8/17/2020 CHF 66.750
Raiffeisen Schweiz Genoss5.340 8/17/2020 CHF 59.540
Leonteq Securities AG/Gue6.000 8/24/2020 CHF 62.070
DekaBank Deutsche Girozen3.000 9/11/2020 EUR 68.130
Vontobel Financial Produc3.840 2/17/2020 EUR 61.370
Leonteq Securities AG 8.000 8/24/2020 CHF 63.690
Raiffeisen Schweiz Genoss6.500 2/24/2020 CHF 61.080
Raiffeisen Schweiz Genoss5.250 2/24/2020 CHF 66.810
Societe Generale Effekten5.600 9/4/2023 EUR 71.640
UniCredit Bank AG 3.700 9/14/2022 EUR 48.210
Societe Generale Effekten15.533 6/19/2020 EUR 57.500
UniCredit Bank AG 4.550 9/28/2023 EUR 74.440
SG Issuer SA 3.000 9/2/2021 EUR 62.860
UBS AG/London 6.500 2/24/2020 CHF 55.700
UBS AG/London 10.000 8/24/2020 CHF 67.700
UBS AG/London 11.000 8/24/2020 CHF 60.900
UBS AG/London 12.000 2/24/2020 USD 30.250
Landesbank Hessen-Thuerin6.000 8/4/2022 EUR 57.890
Leonteq Securities AG/Gue6.600 6/30/2020 CHF 72.260
Leonteq Securities AG/Gue5.400 6/30/2020 CHF 65.490
Landesbank Hessen-Thuerin3.250 2/10/2021 EUR 75.200
Landesbank Hessen-Thuerin2.750 12/16/2020 EUR 74.100
Leonteq Securities AG/Gue7.200 9/28/2020 EUR 68.810
UniCredit Bank AG 7.350 7/16/2020 EUR 62.550
HSBC Trinkaus & Burkhardt6.700 3/27/2020 EUR 69.530
HSBC Trinkaus & Burkhardt11.100 6/26/2020 EUR 60.890
HSBC Trinkaus & Burkhardt5.100 6/26/2020 EUR 52.800
HSBC Trinkaus & Burkhardt8.800 9/25/2020 EUR 45.850
HSBC Trinkaus & Burkhardt6.500 9/25/2020 EUR 49.540
HSBC Trinkaus & Burkhardt4.400 9/25/2020 EUR 54.630
HSBC Trinkaus & Burkhardt2.900 9/25/2020 EUR 59.860
HSBC Trinkaus & Burkhardt9.500 2/28/2020 EUR 42.620
HSBC Trinkaus & Burkhardt6.300 2/28/2020 EUR 48.040
HSBC Trinkaus & Burkhardt3.600 2/28/2020 EUR 55.130
HSBC Trinkaus & Burkhardt12.300 6/26/2020 EUR 41.450
HSBC Trinkaus & Burkhardt7.600 6/26/2020 EUR 47.450
Societe Generale SA 9.250 10/1/2020 USD 32.300
Societe Generale Effekten7.315 3/20/2020 EUR 37.160
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 37.460
Landesbank Baden-Wuerttem3.000 4/24/2020 EUR 51.150
Landesbank Baden-Wuerttem2.500 4/24/2020 EUR 41.280
Landesbank Baden-Wuerttem2.500 4/24/2020 EUR 70.460
Landesbank Baden-Wuerttem6.500 5/22/2020 EUR 68.510
Landesbank Baden-Wuerttem6.000 4/24/2020 EUR 66.520
UBS AG/London 8.000 4/3/2020 USD 54.900
UBS AG/London 7.500 9/28/2020 EUR 68.000
Commerzbank AG 5.500 2/28/2020 EUR 72.000
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 64.640
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 56.970
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 73.640
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 63.950
UBS AG/London 4.300 6/25/2020 EUR 72.620
UBS AG/London 5.800 6/25/2020 EUR 67.690
DZ Bank AG Deutsche Zentr6.200 3/23/2020 EUR 60.350
Raiffeisen Schweiz Genoss7.400 4/1/2020 CHF 65.960
Raiffeisen Schweiz Genoss5.800 9/28/2021 CHF 55.840
Raiffeisen Schweiz Genoss7.200 9/28/2020 EUR 59.710
Deutsche Bank AG 4.200 6/23/2020 EUR 74.040
HSBC Trinkaus & Burkhardt8.800 9/25/2020 EUR 60.190
HSBC Trinkaus & Burkhardt8.000 9/25/2020 EUR 61.440
HSBC Trinkaus & Burkhardt5.000 9/25/2020 EUR 67.580
HSBC Trinkaus & Burkhardt6.000 12/28/2020 EUR 65.160
HSBC Trinkaus & Burkhardt4.200 12/28/2020 EUR 69.820
HSBC Trinkaus & Burkhardt10.200 9/25/2020 EUR 55.840
HSBC Trinkaus & Burkhardt8.100 9/25/2020 EUR 59.320
HSBC Trinkaus & Burkhardt6.100 9/25/2020 EUR 63.630
HSBC Trinkaus & Burkhardt9.500 7/24/2020 EUR 57.080
HSBC Trinkaus & Burkhardt9.000 9/25/2020 EUR 71.870
HSBC Trinkaus & Burkhardt7.800 9/25/2020 EUR 74.180
HSBC Trinkaus & Burkhardt6.700 7/24/2020 EUR 63.610
HSBC Trinkaus & Burkhardt4.400 7/24/2020 EUR 69.350
HSBC Trinkaus & Burkhardt12.600 3/27/2020 EUR 61.730
HSBC Trinkaus & Burkhardt9.800 6/26/2020 EUR 68.040
HSBC Trinkaus & Burkhardt8.500 3/27/2020 EUR 58.450
HSBC Trinkaus & Burkhardt5.800 3/27/2020 EUR 64.860
HSBC Trinkaus & Burkhardt8.400 6/26/2020 EUR 59.090
HSBC Trinkaus & Burkhardt6.100 6/26/2020 EUR 64.350
HSBC Trinkaus & Burkhardt11.300 9/25/2020 EUR 54.380
HSBC Trinkaus & Burkhardt5.600 6/26/2020 EUR 72.230
BNP Paribas Emissions- un11.000 3/26/2020 EUR 62.930
BNP Paribas Emissions- un7.500 6/25/2020 EUR 72.630
HSBC Trinkaus & Burkhardt1.750 3/27/2020 EUR 72.900
UBS AG/London 12.000 3/26/2020 EUR 29.600
HSBC Trinkaus & Burkhardt9.400 6/26/2020 EUR 67.900
HSBC Trinkaus & Burkhardt5.100 3/27/2020 EUR 56.470
HSBC Trinkaus & Burkhardt9.100 6/26/2020 EUR 61.830
HSBC Trinkaus & Burkhardt8.700 12/28/2020 EUR 65.300
HSBC Trinkaus & Burkhardt7.000 12/28/2020 EUR 63.840
HSBC Trinkaus & Burkhardt5.100 12/28/2020 EUR 73.530
HSBC Trinkaus & Burkhardt5.600 12/28/2020 EUR 47.110
HSBC Trinkaus & Burkhardt1.880 3/27/2020 EUR 68.930
DekaBank Deutsche Girozen2.750 10/23/2020 EUR 69.230
DekaBank Deutsche Girozen3.400 10/22/2021 EUR 71.420
Landesbank Baden-Wuerttem3.500 7/24/2020 EUR 58.340
Landesbank Baden-Wuerttem4.400 7/24/2020 EUR 71.830
UBS AG/London 10.000 6/12/2020 EUR 69.350
HSBC Trinkaus & Burkhardt6.700 2/28/2020 EUR 74.890
HSBC Trinkaus & Burkhardt7.300 3/27/2020 EUR 46.370
HSBC Trinkaus & Burkhardt10.600 3/27/2020 EUR 41.650
UniCredit Bank AG 5.050 1/11/2022 EUR 46.220
UniCredit Bank AG 5.750 1/11/2022 EUR 64.790
UBS AG/London 11.000 9/21/2020 CHF 69.900
UBS AG/London 11.000 9/21/2020 CHF 69.650
Vontobel Financial Produc5.500 4/15/2020 EUR 70.610
Vontobel Financial Produc4.600 4/15/2020 EUR 54.340
HSBC Trinkaus & Burkhardt5.500 2/28/2020 EUR 71.810
BNP Paribas Emissions- un10.000 3/26/2020 EUR 65.040
BNP Paribas Emissions- un12.000 3/26/2020 EUR 60.980
BNP Paribas Emissions- un15.000 6/25/2020 EUR 57.110
UBS AG/London 12.000 6/12/2020 USD 53.320
Luzerner Kantonalbank AG 6.000 4/8/2020 CHF 66.090
Luzerner Kantonalbank AG 10.000 4/8/2020 CHF 53.700
UBS AG/London 11.000 9/28/2020 EUR 73.950
HSBC Trinkaus & Burkhardt5.400 3/27/2020 EUR 66.610
HSBC Trinkaus & Burkhardt3.600 3/27/2020 EUR 72.740
HSBC Trinkaus & Burkhardt9.500 6/26/2020 EUR 75.020
HSBC Trinkaus & Burkhardt6.800 3/27/2020 EUR 75.390
HSBC Trinkaus & Burkhardt2.600 3/27/2020 EUR 59.390
HSBC Trinkaus & Burkhardt10.400 6/26/2020 EUR 43.510
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 73.870
Landesbank Baden-Wuerttem7.000 4/24/2020 EUR 67.080
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 71.970
Landesbank Baden-Wuerttem5.500 4/24/2020 EUR 60.380
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 74.390
Landesbank Baden-Wuerttem3.500 4/24/2020 EUR 67.830
Landesbank Baden-Wuerttem5.000 5/22/2020 EUR 72.930
UniCredit Bank AG 5.550 10/26/2022 EUR 72.980
Natixis SA 1.500 10/4/2021 EUR 69.125
UBS AG/London 10.000 9/28/2020 EUR 55.100
HSBC Trinkaus & Burkhardt3.200 3/27/2020 EUR 62.060
HSBC Trinkaus & Burkhardt7.700 6/26/2020 EUR 61.340
DekaBank Deutsche Girozen8.100 4/23/2021 EUR 65.820
HSBC Trinkaus & Burkhardt7.800 12/28/2020 EUR 64.520
HSBC Trinkaus & Burkhardt7.800 9/25/2020 EUR 67.110
HSBC Trinkaus & Burkhardt8.800 2/28/2020 EUR 64.220
HSBC Trinkaus & Burkhardt3.300 6/26/2020 EUR 58.710
Bank Julius Baer & Co Ltd7.000 3/23/2020 CHF 66.550
HSBC Trinkaus & Burkhardt8.000 6/26/2020 EUR 65.820
BNP Paribas Emissions- un8.000 3/26/2020 EUR 69.730
UniCredit Bank AG 4.350 10/26/2021 EUR 43.530
UBS AG/London 12.000 10/26/2020 CHF 73.450
DekaBank Deutsche Girozen3.250 11/13/2020 EUR 69.820
Landesbank Baden-Wuerttem5.000 2/28/2020 EUR 57.940
Landesbank Baden-Wuerttem7.500 2/28/2020 EUR 75.520
UniCredit Bank AG 14.000 12/29/2020 EUR 33.140
UniCredit Bank AG 12.800 12/29/2020 EUR 33.700
UniCredit Bank AG 7.800 12/29/2020 EUR 39.320
UniCredit Bank AG 9.200 12/29/2020 EUR 37.310
UBS AG/London 10.000 4/24/2020 USD 55.910
UBS AG/London 9.000 4/24/2020 EUR 55.650
DekaBank Deutsche Girozen5.150 5/21/2021 EUR 70.510
Leonteq Securities AG/Gue6.900 2/15/2021 CHF 1.070
Leonteq Securities AG 15.000 5/15/2020 CHF 24.200
Leonteq Securities AG/Gue7.800 2/16/2021 USD 31.230
Raiffeisen Switzerland BV8.250 2/15/2021 CHF 73.010
Leonteq Securities AG/Gue7.000 2/15/2021 CHF 1.070
DZ Bank AG Deutsche Zentr7.000 2/26/2020 EUR 66.350
Vontobel Financial Produc7.500 3/27/2020 EUR 68.580
Vontobel Financial Produc15.000 3/27/2020 EUR 67.660
Vontobel Financial Produc6.500 3/27/2020 EUR 74.150
Vontobel Financial Produc13.000 3/27/2020 EUR 64.360
DZ Bank AG Deutsche Zentr10.250 3/25/2020 EUR 52.590
Vontobel Financial Produc8.500 3/27/2020 EUR 56.750
Landesbank Baden-Wuerttem3.300 9/24/2021 EUR 70.870
Leonteq Securities AG/Gue6.000 8/18/2021 CHF 1.420
Leonteq Securities AG/Gue4.900 2/16/2021 CHF 28.820
Leonteq Securities AG/Gue10.000 2/8/2021 USD 63.200
Vontobel Financial Produc6.500 3/27/2020 EUR 60.260
Landesbank Baden-Wuerttem6.100 3/27/2020 EUR 53.920
Landesbank Baden-Wuerttem4.100 6/25/2021 EUR 73.990
BNP Paribas Emissions- un5.000 3/26/2020 EUR 54.560
DekaBank Deutsche Girozen2.850 3/6/2020 EUR 67.430
Landesbank Baden-Wuerttem5.000 2/28/2020 EUR 66.870
Landesbank Baden-Wuerttem7.000 2/28/2020 EUR 59.510
Landesbank Baden-Wuerttem2.000 2/28/2020 EUR 66.800
Landesbank Baden-Wuerttem3.000 2/28/2020 EUR 63.180
Landesbank Baden-Wuerttem2.500 2/28/2020 EUR 49.610
Landesbank Baden-Wuerttem4.500 2/28/2020 EUR 44.450
Landesbank Baden-Wuerttem5.500 2/28/2020 EUR 41.520
Landesbank Baden-Wuerttem3.000 2/28/2020 EUR 65.880
Landesbank Baden-Wuerttem4.500 2/28/2020 EUR 60.010
Landesbank Baden-Wuerttem6.000 2/28/2020 EUR 54.970
Landesbank Baden-Wuerttem2.500 2/28/2020 EUR 58.980
Landesbank Baden-Wuerttem3.500 2/28/2020 EUR 56.050
Landesbank Baden-Wuerttem4.500 2/28/2020 EUR 52.280
Landesbank Baden-Wuerttem3.000 2/28/2020 EUR 74.830
Landesbank Baden-Wuerttem4.000 2/28/2020 EUR 70.030
Landesbank Baden-Wuerttem5.000 2/28/2020 EUR 66.820
Landesbank Baden-Wuerttem6.000 2/28/2020 EUR 61.460
Landesbank Baden-Wuerttem3.500 2/28/2020 EUR 69.440
Landesbank Baden-Wuerttem2.000 2/28/2020 EUR 56.220
Landesbank Baden-Wuerttem3.500 2/28/2020 EUR 49.960
Landesbank Baden-Wuerttem2.500 2/28/2020 EUR 24.520
Vontobel Financial Produc8.000 3/27/2020 EUR 56.780
UBS AG/London 6.000 2/24/2020 CHF 59.000
UBS AG/London 7.500 8/24/2020 CHF 52.300
UBS AG/London 11.000 8/24/2020 CHF 69.100
Raiffeisen Schweiz Genoss7.200 2/24/2020 CHF 60.420
Leonteq Securities AG/Gue10.000 8/31/2020 EUR 68.140
Raiffeisen Schweiz Genoss7.300 3/5/2020 CHF 60.220
Raiffeisen Schweiz Genoss6.000 3/5/2020 CHF 59.890
Raiffeisen Centrobank AG 5.359 3/24/2020 EUR 68.380
Landesbank Hessen-Thuerin3.150 9/28/2020 EUR 75.600
UniCredit Bank AG 4.750 9/18/2020 EUR 55.720
Raiffeisen Centrobank AG 8.511 3/24/2020 EUR 53.460
Landesbank Baden-Wuerttem2.500 8/28/2020 EUR 75.400
Landesbank Baden-Wuerttem5.000 8/28/2020 EUR 68.540
Landesbank Baden-Wuerttem2.500 8/28/2020 EUR 73.850
Landesbank Baden-Wuerttem4.000 8/28/2020 EUR 67.980
Landesbank Baden-Wuerttem4.000 8/28/2020 EUR 66.800
Landesbank Baden-Wuerttem2.500 8/28/2020 EUR 61.610
Landesbank Baden-Wuerttem3.500 8/28/2020 EUR 56.820
Landesbank Baden-Wuerttem4.500 8/28/2020 EUR 55.020
Landesbank Hessen-Thuerin3.500 9/28/2022 EUR 60.500
Raiffeisen Centrobank AG 9.755 3/24/2020 EUR 60.610
Credit Suisse AG/London 5.000 6/23/2020 EUR 47.740
Raiffeisen Centrobank AG 6.620 3/24/2020 EUR 52.410
Raiffeisen Centrobank AG 6.935 3/24/2020 EUR 67.800
Landesbank Baden-Wuerttem4.000 8/28/2020 EUR 68.370
Landesbank Baden-Wuerttem7.000 8/28/2020 EUR 60.260
Landesbank Baden-Wuerttem2.500 8/28/2020 EUR 60.000
Landesbank Baden-Wuerttem4.000 8/28/2020 EUR 54.000
Landesbank Baden-Wuerttem3.000 8/28/2020 EUR 40.040
Landesbank Baden-Wuerttem5.000 8/28/2020 EUR 35.120
Landesbank Baden-Wuerttem2.500 8/28/2020 EUR 72.610
Landesbank Baden-Wuerttem4.500 8/28/2020 EUR 75.450
Landesbank Baden-Wuerttem6.000 8/28/2020 EUR 74.080
Landesbank Baden-Wuerttem3.000 8/28/2020 EUR 75.060
Vontobel Financial Produc9.500 6/26/2020 EUR 48.730
Vontobel Financial Produc17.000 3/27/2020 EUR 54.380
Plaza Centers NV 6.000 7/1/2020 ILS 20.850
DekaBank Deutsche Girozen2.100 10/9/2020 EUR 73.540
Leonteq Securities AG/Gue7.000 7/14/2020 CHF 69.630
Landesbank Hessen-Thuerin6.000 10/6/2022 EUR 69.410
DekaBank Deutsche Girozen2.900 10/9/2020 EUR 40.710
Commerzbank AG 1.580 9/16/2024 USD 5.110
DekaBank Deutsche Girozen2.000 10/9/2020 EUR 68.050
EFG International Finance5.500 9/21/2020 USD 59.770
Raiffeisen Schweiz Genoss7.410 7/13/2020 CHF 68.860
DekaBank Deutsche Girozen2.200 10/9/2020 EUR 71.670
DekaBank Deutsche Girozen2.400 10/9/2020 EUR 69.520
DekaBank Deutsche Girozen7.700 3/26/2021 EUR 62.180
UBS AG/London 6.250 3/2/2020 CHF 58.600
UBS AG/London 10.000 8/31/2020 CHF 68.650
UBS AG/London 10.500 8/31/2020 EUR 60.050
UBS AG/London 10.000 3/2/2020 EUR 47.200
Raiffeisen Schweiz Genoss7.100 3/10/2020 CHF 62.740
Landesbank Baden-Wuerttem2.500 8/28/2020 EUR 59.780
Landesbank Baden-Wuerttem4.000 8/28/2020 EUR 53.520
Landesbank Baden-Wuerttem5.000 8/28/2020 EUR 68.060
Landesbank Hessen-Thuerin4.650 9/28/2023 EUR 63.880
Raiffeisen Centrobank AG 7.757 6/23/2020 EUR 74.890
Raiffeisen Schweiz Genoss7.200 3/10/2020 CHF 62.760
Landesbank Hessen-Thuerin5.200 1/8/2024 EUR 67.530
DekaBank Deutsche Girozen2.200 4/20/2020 EUR 65.400
UniCredit Bank AG 3.800 8/30/2023 EUR 68.110
Landesbank Hessen-Thuerin5.000 9/21/2023 EUR 74.950
Raiffeisen Schweiz Genoss3.000 9/22/2020 CHF 5.720
Leonteq Securities AG 3.600 9/22/2026 CHF 60.530
Raiffeisen Schweiz Genoss3.000 9/21/2029 CHF 68.420
Raiffeisen Schweiz Genoss2.700 9/22/2026 CHF 55.020
Leonteq Securities AG 3.900 12/20/2024 CHF 54.600
Raiffeisen Schweiz Genoss3.200 12/18/2026 CHF 63.100
Raiffeisen Schweiz Genoss10.000 12/31/2024 CHF 73.630
Landesbank Hessen-Thuerin5.000 6/26/2020 EUR 64.900
UniCredit Bank AG 3.750 10/2/2020 EUR 38.860
Landesbank Hessen-Thuerin8.000 4/7/2020 EUR 61.600
Raiffeisen Schweiz Genoss3.400 3/21/2025 CHF 54.370
Credit Suisse AG/London 11.000 3/27/2020 USD 60.850
Credit Suisse AG/London 6.100 3/30/2020 USD 42.750
Landesbank Hessen-Thuerin6.400 8/18/2020 EUR 47.110
Landesbank Hessen-Thuerin9.500 5/15/2020 EUR 26.850
Landesbank Hessen-Thuerin8.400 5/8/2020 EUR 28.500
BNP Paribas Issuance BV 5.650 6/19/2020 EUR 70.710
Leonteq Securities AG 2.750 3/20/2020 CHF 63.090
Credit Suisse AG/London 7.000 4/24/2020 USD 50.150
UniCredit Bank AG 3.600 6/18/2020 EUR 54.900
Landesbank Baden-Wuerttem3.000 6/26/2020 EUR 73.650
Landesbank Hessen-Thuerin6.400 9/4/2020 EUR 73.660
Landesbank Hessen-Thuerin7.400 6/12/2020 EUR 66.950
DZ Bank AG Deutsche Zentr6.750 6/24/2020 EUR 63.830
DZ Bank AG Deutsche Zentr7.200 9/21/2020 EUR 64.600
DZ Bank AG Deutsche Zentr8.300 9/21/2020 EUR 63.420
DZ Bank AG Deutsche Zentr4.750 9/21/2020 EUR 70.010
Vontobel Financial Produc15.000 6/26/2020 EUR 68.950
Sberbank of Russia PJSC 0.010 3/13/2020 RUB 60.100
Commerzbank AG 12.500 7/24/2020 EUR 73.660
Commerzbank AG 8.250 7/24/2020 EUR 67.130
Commerzbank AG 10.250 7/24/2020 EUR 64.600
Commerzbank AG 12.250 7/24/2020 EUR 62.530
Vontobel Financial Produc20.000 9/25/2020 EUR 72.600
DZ Bank AG Deutsche Zentr4.750 9/21/2020 EUR 62.970
DZ Bank AG Deutsche Zentr5.500 9/21/2020 EUR 68.640
DZ Bank AG Deutsche Zentr6.500 9/21/2020 EUR 67.240
Landesbank Baden-Wuerttem4.750 1/22/2021 EUR 70.500
Landesbank Baden-Wuerttem6.500 1/22/2021 EUR 67.990
Raiffeisen Switzerland BV5.000 8/14/2020 EUR 55.180
UBS AG/London 10.500 2/28/2020 CHF 37.400
UBS AG/London 9.500 2/28/2020 EUR 47.550
UBS AG/London 10.000 2/28/2020 EUR 48.200
UBS AG/London 7.500 2/28/2020 EUR 71.100
Raiffeisen Schweiz Genoss5.750 9/9/2020 CHF 43.470
DekaBank Deutsche Girozen3.100 3/27/2020 EUR 60.890
Leonteq Securities AG/Gue8.200 3/2/2020 CHF 20.180
UniCredit Bank AG 4.050 3/26/2021 EUR 41.820
UniCredit Bank AG 4.400 3/26/2021 EUR 71.490
UniCredit Bank AG 4.250 3/29/2021 EUR 63.660
UBS AG/London 11.250 3/9/2020 EUR 54.700
Zurcher Kantonalbank Fina6.600 6/19/2020 CHF 71.040
Commerzbank AG 2.450 3/9/2020 EUR 56.580
DekaBank Deutsche Girozen4.250 4/14/2022 EUR 66.730
Landesbank Baden-Wuerttem6.000 12/29/2020 EUR 71.100
Landesbank Baden-Wuerttem5.000 12/29/2020 EUR 49.020
Leonteq Securities AG/Gue2.990 8/7/2020 USD 71.900
Vontobel Financial Produc9.000 3/13/2020 EUR 60.190
Vontobel Financial Produc5.000 3/13/2020 EUR 69.090
Vontobel Financial Produc13.500 3/13/2020 EUR 53.480
Vontobel Financial Produc11.000 3/13/2020 EUR 56.600
Vontobel Financial Produc7.000 3/13/2020 EUR 64.310
Societe Generale Effekten9.855 3/20/2020 EUR 71.090
Vontobel Financial Produc12.500 3/27/2020 EUR 69.300
Vontobel Financial Produc14.500 3/27/2020 EUR 51.190
Vontobel Financial Produc10.000 3/27/2020 EUR 56.910
Vontobel Financial Produc6.500 3/27/2020 EUR 64.520
Vontobel Financial Produc12.500 3/27/2020 EUR 53.890
Vontobel Financial Produc8.500 3/27/2020 EUR 60.480
Vontobel Financial Produc12.500 3/27/2020 EUR 74.810
Vontobel Financial Produc15.500 3/27/2020 EUR 64.650
Vontobel Financial Produc13.000 3/27/2020 EUR 73.390
Vontobel Financial Produc15.000 3/27/2020 EUR 70.820
Vontobel Financial Produc9.500 3/27/2020 EUR 59.520
UBS AG/London 9.100 6/25/2020 EUR 42.620
UBS AG/London 7.200 3/26/2020 EUR 46.350
UBS AG/London 9.100 3/26/2020 EUR 43.040
Deutsche Bank AG 4.200 3/24/2020 EUR 74.750
DZ Bank AG Deutsche Zentr8.250 3/25/2020 EUR 49.720
DZ Bank AG Deutsche Zentr10.000 3/25/2020 EUR 72.230
UniCredit Bank AG 9.600 12/27/2021 EUR 70.410
UniCredit Bank AG 13.900 12/29/2020 EUR 60.300
UniCredit Bank AG 11.000 12/29/2020 EUR 66.320
Vontobel Financial Produc14.500 3/27/2020 EUR 69.870
Vontobel Financial Produc14.500 3/27/2020 EUR 67.400
Vontobel Financial Produc17.000 3/27/2020 EUR 64.030
Vontobel Financial Produc12.500 3/27/2020 EUR 71.240
HSBC Trinkaus & Burkhardt10.800 3/27/2020 EUR 53.780
HSBC Trinkaus & Burkhardt10.200 6/26/2020 EUR 55.570
HSBC Trinkaus & Burkhardt9.300 6/26/2020 EUR 56.820
HSBC Trinkaus & Burkhardt8.200 2/28/2020 EUR 58.030
HSBC Trinkaus & Burkhardt13.500 3/27/2020 EUR 35.640
HSBC Trinkaus & Burkhardt11.300 3/27/2020 EUR 37.680
HSBC Trinkaus & Burkhardt11.200 6/26/2020 EUR 39.830
HSBC Trinkaus & Burkhardt9.500 2/28/2020 EUR 39.600
HSBC Trinkaus & Burkhardt7.900 3/27/2020 EUR 72.400
HSBC Trinkaus & Burkhardt9.700 6/26/2020 EUR 73.000
DekaBank Deutsche Girozen2.450 3/5/2021 EUR 70.920
Landesbank Baden-Wuerttem4.000 2/28/2020 EUR 56.890
Landesbank Baden-Wuerttem2.000 2/28/2020 EUR 65.750
Landesbank Baden-Wuerttem3.000 2/28/2020 EUR 61.830
Landesbank Baden-Wuerttem3.500 2/28/2020 EUR 45.940
Landesbank Baden-Wuerttem4.500 2/28/2020 EUR 66.750
Landesbank Baden-Wuerttem2.500 2/28/2020 EUR 75.420
Landesbank Baden-Wuerttem4.500 2/28/2020 EUR 66.350
Landesbank Baden-Wuerttem5.000 2/28/2020 EUR 45.000
Landesbank Baden-Wuerttem4.000 2/28/2020 EUR 21.990
UBS AG/London 12.000 3/9/2020 CHF 37.700
UBS AG/London 9.750 3/9/2020 EUR 67.450
UBS AG/London 8.500 3/9/2020 USD 47.050
UBS AG/London 7.500 3/16/2020 EUR 74.050
EFG International Finance7.400 3/29/2021 EUR 58.430
Zurcher Kantonalbank Fina7.150 3/19/2020 CHF 20.630
Leonteq Securities AG/Gue9.000 3/16/2020 CHF 70.440
Raiffeisen Schweiz Genoss7.000 9/23/2020 EUR 56.270
UniCredit Bank AG 4.400 11/1/2020 EUR 60.270
Raiffeisen Schweiz Genoss7.000 4/30/2020 EUR 59.450
Leonteq Securities AG/Gue7.000 10/29/2020 CHF 60.650
HSBC Trinkaus & Burkhardt6.300 3/27/2020 EUR 60.330
HSBC Trinkaus & Burkhardt4.100 3/27/2020 EUR 66.510
HSBC Trinkaus & Burkhardt5.800 3/27/2020 EUR 64.780
Landesbank Baden-Wuerttem3.000 10/23/2020 EUR 71.150
Landesbank Baden-Wuerttem3.000 10/23/2020 EUR 72.720
Landesbank Baden-Wuerttem3.000 7/23/2021 EUR 68.660
Commerzbank AG 12.750 3/27/2020 EUR 67.590
Commerzbank AG 14.750 3/27/2020 EUR 65.120
Credit Suisse AG/London 6.600 5/22/2020 CHF 51.210
Vontobel Financial Produc27.500 8/12/2020 USD 72.650
Commerzbank AG 8.500 6/26/2020 EUR 70.000
Commerzbank AG 10.500 6/26/2020 EUR 67.400
Vontobel Financial Produc13.000 9/11/2020 EUR 62.110
Vontobel Financial Produc5.000 9/11/2020 EUR 69.610
Vontobel Financial Produc10.000 9/11/2020 EUR 63.910
DZ Bank AG Deutsche Zentr6.000 6/24/2020 EUR 73.170
UBS AG/London 24.500 3/26/2020 EUR 52.400
UBS AG/London 15.900 6/25/2020 EUR 57.620
UBS AG/London 20.300 6/25/2020 EUR 56.370
Commerzbank AG 6.500 6/26/2020 EUR 73.380
Commerzbank AG 12.500 6/26/2020 EUR 65.380
Vontobel Financial Produc7.500 9/11/2020 EUR 66.420
DZ Bank AG Deutsche Zentr8.500 6/24/2020 EUR 69.710
Societe Generale Effekten9.979 3/20/2020 EUR 61.510
Vontobel Financial Produc7.000 3/13/2020 EUR 75.110
Vontobel Financial Produc16.000 3/13/2020 EUR 72.870
Landesbank Baden-Wuerttem2.000 7/24/2020 EUR 72.580
Landesbank Baden-Wuerttem3.500 7/24/2020 EUR 65.450
Landesbank Baden-Wuerttem3.500 7/24/2020 EUR 71.520
Landesbank Baden-Wuerttem7.000 7/24/2020 EUR 47.180
UBS AG/London 17.700 3/26/2020 EUR 71.200
HSBC Trinkaus & Burkhardt7.700 2/28/2020 EUR 69.110
HSBC Trinkaus & Burkhardt12.500 3/27/2020 EUR 40.410
HSBC Trinkaus & Burkhardt6.900 3/27/2020 EUR 48.080
HSBC Trinkaus & Burkhardt7.400 6/26/2020 EUR 70.300
HSBC Trinkaus & Burkhardt11.100 3/27/2020 EUR 69.760
HSBC Trinkaus & Burkhardt9.300 3/27/2020 EUR 73.610
Commerzbank AG 6.250 7/24/2020 EUR 70.580
Leonteq Securities AG/Gue6.600 8/18/2020 CHF 69.520
Vonetize Plc 6.000 8/1/2022 ILS 65.700
DekaBank Deutsche Girozen2.700 9/18/2020 EUR 68.160
Leonteq Securities AG/Gue8.200 9/1/2020 CHF 73.120
Leonteq Securities AG/Gue6.000 8/18/2020 CHF 74.580
Credit Suisse AG/London 13.100 7/31/2020 USD 73.500
DZ Bank AG Deutsche Zentr17.000 6/26/2020 EUR 58.710
DZ Bank AG Deutsche Zentr11.500 9/25/2020 EUR 63.930
DekaBank Deutsche Girozen2.000 9/18/2020 EUR 55.900
Leonteq Securities AG/Gue5.000 8/25/2020 CHF 74.530
UniCredit Bank AG 3.800 9/19/2021 EUR 65.230
UniCredit Bank AG 3.850 9/19/2021 EUR 48.750
UniCredit Bank AG 3.500 9/19/2021 EUR 50.900
DekaBank Deutsche Girozen3.100 12/3/2021 EUR 74.150
Raiffeisen Centrobank AG 10.000 5/11/2020 EUR 69.040
Landesbank Hessen-Thuerin4.750 5/11/2023 EUR 58.060
Leonteq Securities AG/Gue5.000 10/13/2020 CHF 61.280
UBS AG/London 4.500 3/26/2020 EUR 56.460
UniCredit Bank AG 5.000 9/26/2021 EUR 51.820
getBACK SA 5.710 2/16/2021 PLN
UniCredit Bank AG 4.730 1/2/2023 EUR 71.420
Leonteq Securities AG/Gue10.000 4/17/2020 CHF 43.160
UBS AG/London 5.500 4/6/2020 CHF 68.950
Credit Suisse AG/London 8.750 5/21/2020 USD 51.420
HSBC Trinkaus & Burkhardt11.500 3/27/2020 EUR 43.300
HSBC Trinkaus & Burkhardt9.800 3/27/2020 EUR 69.050
HSBC Trinkaus & Burkhardt10.300 3/27/2020 EUR 44.860
HSBC Trinkaus & Burkhardt6.900 3/27/2020 EUR 50.460
HSBC Trinkaus & Burkhardt5.000 3/27/2020 EUR 55.220
HSBC Trinkaus & Burkhardt9.400 2/28/2020 EUR 46.140
HSBC Trinkaus & Burkhardt11.000 3/27/2020 EUR 71.720
HSBC Trinkaus & Burkhardt9.200 3/27/2020 EUR 55.210
HSBC Trinkaus & Burkhardt6.600 2/28/2020 EUR 59.900
HSBC Trinkaus & Burkhardt4.300 2/28/2020 EUR 66.470
UBS AG/London 7.000 5/21/2020 EUR 69.700
Leonteq Securities AG/Gue10.200 6/3/2020 USD 56.490
Citigroup Global Markets 13.200 12/18/2023 SEK 61.220
HSBC Trinkaus & Burkhardt10.500 3/27/2020 EUR 70.900
HSBC Trinkaus & Burkhardt9.400 3/27/2020 EUR 73.370
HSBC Trinkaus & Burkhardt5.000 3/27/2020 EUR 64.440
HSBC Trinkaus & Burkhardt3.000 3/27/2020 EUR 71.880
HSBC Trinkaus & Burkhardt6.500 6/26/2020 EUR 61.150
HSBC Trinkaus & Burkhardt4.500 6/26/2020 EUR 66.850
UBS AG/London 10.500 11/3/2020 CHF 63.300
EFG International Finance7.000 11/17/2020 CHF 58.480
DekaBank Deutsche Girozen3.000 6/12/2020 EUR 73.310
DekaBank Deutsche Girozen5.950 12/4/2020 EUR 51.720
EFG International Finance7.000 11/23/2020 CHF 72.470
Raiffeisen Schweiz Genoss3.400 5/14/2020 CHF 54.340
Landesbank Baden-Wuerttem2.750 12/29/2020 EUR 67.770
Landesbank Baden-Wuerttem3.500 12/29/2020 EUR 68.360
Landesbank Baden-Wuerttem5.000 6/26/2020 EUR 45.800
Landesbank Baden-Wuerttem5.250 6/26/2020 EUR 74.700
Corner Banca SA 8.000 5/25/2021 CHF 60.380
Citigroup Global Markets 7.200 5/24/2023 SEK 51.250
Raiffeisen Schweiz Genoss5.300 11/23/2020 CHF 56.000
UBS AG/London 6.250 4/20/2020 CHF 38.800
Landesbank Hessen-Thuerin4.000 6/22/2022 EUR 58.890
Leonteq Securities AG/Gue5.500 5/25/2021 CHF 57.490
Leonteq Securities AG 7.800 5/14/2021 CHF 28.140
DekaBank Deutsche Girozen3.500 8/14/2020 EUR 64.500
UniCredit Bank AG 8.300 12/29/2020 EUR 73.710
UniCredit Bank AG 7.700 12/29/2020 EUR 67.270
UniCredit Bank AG 8.100 12/29/2020 EUR 61.140
UniCredit Bank AG 6.200 12/29/2020 EUR 67.640
UniCredit Bank AG 8.200 12/29/2020 EUR 65.940
UniCredit Bank AG 10.200 12/29/2020 EUR 66.900
UniCredit Bank AG 8.800 12/29/2020 EUR 74.080
UniCredit Bank AG 8.600 12/29/2020 EUR 68.910
Societe Generale Effekten7.404 3/20/2020 EUR 65.750
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 65.470
Landesbank Baden-Wuerttem2.500 7/24/2020 EUR 58.730
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 50.380
HSBC Trinkaus & Burkhardt5.000 3/27/2020 EUR 52.630
HSBC Trinkaus & Burkhardt9.200 2/28/2020 EUR 44.300
EFG International Finance7.200 11/30/2020 EUR 65.300
UBS AG/London 10.500 4/20/2020 EUR 53.700
UniCredit Bank AG 5.000 6/11/2021 EUR 55.000
Raiffeisen Schweiz Genoss5.750 5/18/2020 CHF 53.590
Raiffeisen Schweiz Genoss6.500 5/18/2020 CHF 19.620
Bank Julius Baer & Co Ltd6.000 5/11/2020 CHF 63.000
Vontobel Financial Produc20.000 9/25/2020 EUR 71.300
Landesbank Baden-Wuerttem3.000 12/29/2020 EUR 53.910
UniCredit Bank AG 4.000 3/2/2020 EUR 36.310
Erste Group Bank AG 6.250 3/29/2023 EUR 62.000
UniCredit Bank AG 6.300 3/26/2021 EUR 42.850
UniCredit Bank AG 4.600 3/26/2021 EUR 50.180
UniCredit Bank AG 3.250 3/29/2022 EUR 26.680
Societe Generale Effekten16.740 3/20/2020 EUR 71.870
Vontobel Financial Produc16.500 3/13/2020 EUR 73.020
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 60.640
Raiffeisen Centrobank AG 9.626 3/24/2020 EUR 72.050
Raiffeisen Centrobank AG 10.929 3/24/2020 EUR 67.390
Raiffeisen Centrobank AG 9.643 3/24/2020 EUR 69.990
UBS AG/London 10.250 3/23/2020 EUR 36.450
DekaBank Deutsche Girozen2.750 4/16/2021 EUR 68.320
Vontobel Financial Produc6.500 4/20/2020 EUR 67.610
Landesbank Baden-Wuerttem2.750 5/31/2021 EUR 60.690
SG Issuer SA 5.000 4/2/2024 EUR 62.670
Landesbank Baden-Wuerttem3.500 4/24/2020 EUR 59.130
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 74.540
Landesbank Baden-Wuerttem3.000 4/24/2020 EUR 50.540
Landesbank Baden-Wuerttem3.000 4/24/2020 EUR 60.270
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 72.240
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 63.550
Landesbank Baden-Wuerttem4.000 5/22/2020 EUR 72.810
Landesbank Baden-Wuerttem5.500 5/22/2020 EUR 66.100
Landesbank Baden-Wuerttem6.000 5/22/2020 EUR 69.250
Landesbank Baden-Wuerttem3.500 5/22/2020 EUR 74.310
Landesbank Baden-Wuerttem5.000 5/22/2020 EUR 65.170
Landesbank Baden-Wuerttem2.500 4/24/2020 EUR 48.220
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 70.410
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 62.740
Landesbank Baden-Wuerttem3.500 4/24/2020 EUR 57.160
Landesbank Hessen-Thuerin5.400 11/24/2022 EUR 63.270
Landesbank Hessen-Thuerin4.000 6/8/2022 EUR 59.380
Landesbank Hessen-Thuerin4.000 6/8/2022 EUR 63.730
Leonteq Securities AG/Gue3.000 9/20/2022 CHF 68.530
Commerzbank AG 2.100 8/28/2020 EUR 59.440
Leonteq Securities AG/Gue5.000 9/8/2020 CHF 36.750
Leonteq Securities AG/Gue6.200 3/11/2020 CHF 73.950
Landesbank Hessen-Thuerin3.000 7/6/2021 EUR 69.500
Natixis SA 4.975 3/23/2020 USD 33.761
UBS AG/London 8.000 3/30/2020 EUR 61.150
UBS AG/London 6.500 3/30/2020 CHF 65.850
DekaBank Deutsche Girozen2.050 5/3/2021 EUR 47.100
Raiffeisen Schweiz Genoss6.500 10/9/2020 CHF 47.190
UniCredit Bank AG 3.450 9/14/2022 EUR 67.170
Landesbank Hessen-Thuerin7.800 12/15/2022 EUR 74.540
Landesbank Baden-Wuerttem4.850 6/26/2020 EUR 61.380
UBS AG/London 9.000 11/10/2022 USD 5.880
Leonteq Securities AG/Gue4.200 6/1/2021 CHF 39.470
DekaBank Deutsche Girozen2.200 5/28/2021 EUR 58.500
DekaBank Deutsche Girozen2.700 5/29/2020 EUR 47.670
DekaBank Deutsche Girozen3.100 5/28/2021 EUR 62.860
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 56.610
Landesbank Baden-Wuerttem5.000 5/22/2020 EUR 72.240
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 43.710
Landesbank Baden-Wuerttem5.500 4/24/2020 EUR 65.110
Landesbank Baden-Wuerttem5.500 4/24/2020 EUR 74.980
Landesbank Baden-Wuerttem3.000 4/24/2020 EUR 59.640
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 65.810
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 52.710
UBS AG/London 13.000 5/4/2020 CHF 51.000
BNP Paribas Issuance BV 12.600 2/17/2020 CHF 60.900
EFG International Finance8.000 11/23/2020 EUR 69.830
Raiffeisen Schweiz Genoss5.200 11/11/2020 CHF 55.930
Landesbank Hessen-Thuerin7.000 1/9/2023 EUR 39.730
DekaBank Deutsche Girozen3.650 3/27/2020 EUR 71.930
UBS AG/London 6.500 12/14/2020 EUR 73.250
Leonteq Securities AG/Gue4.750 11/1/2021 CHF 33.470
Landesbank Hessen-Thuerin3.000 6/4/2021 EUR 66.200
UBS AG/London 9.000 5/14/2020 CHF 70.500
Raiffeisen Schweiz Genoss5.300 5/4/2020 EUR 73.400
Commerzbank AG 8.000 11/6/2020 USD 5.980
HSBC Trinkaus & Burkhardt6.630 5/22/2020 EUR 70.920
EFG International Finance7.000 11/16/2020 EUR 62.380
UniCredit Bank AG 4.200 12/8/2021 EUR 62.640
Credit Suisse AG/London 9.750 2/18/2020 USD 60.060
DekaBank Deutsche Girozen2.500 5/28/2021 EUR 71.620
DekaBank Deutsche Girozen2.900 5/29/2020 EUR 46.730
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 56.860
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 53.110
DekaBank Deutsche Girozen3.050 11/20/2020 EUR 70.760
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 53.140
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 45.710
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 43.750
Landesbank Baden-Wuerttem4.500 4/24/2020 EUR 23.690
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 63.370
Landesbank Baden-Wuerttem3.500 4/24/2020 EUR 63.700
Leonteq Securities AG 20.000 5/12/2020 CHF 60.620
Landesbank Baden-Wuerttem3.700 7/23/2021 EUR 72.160
Leonteq Securities AG 12.000 5/12/2020 CHF 74.710
Landesbank Hessen-Thuerin4.000 6/4/2021 EUR 71.600
DekaBank Deutsche Girozen4.700 5/29/2020 EUR 61.860
DekaBank Deutsche Girozen6.000 5/29/2020 EUR 52.670
Landesbank Baden-Wuerttem3.000 10/23/2020 EUR 72.130
DekaBank Deutsche Girozen2.500 5/29/2020 EUR 70.770
DekaBank Deutsche Girozen3.000 5/29/2020 EUR 74.970
SG Issuer SA 5.000 5/23/2024 EUR 63.480
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 65.670
Landesbank Baden-Wuerttem3.500 4/24/2020 EUR 67.060
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 61.830
Landesbank Baden-Wuerttem2.000 4/24/2020 EUR 53.300
Landesbank Baden-Wuerttem2.500 4/24/2020 EUR 26.610
Landesbank Baden-Wuerttem4.000 4/24/2020 EUR 57.410
UBS AG/London 5.100 3/26/2020 EUR 53.870
DekaBank Deutsche Girozen2.200 11/20/2020 EUR 73.440
Landesbank Baden-Wuerttem2.700 10/28/2022 EUR 72.420
Raiffeisen Schweiz Genoss4.700 11/4/2020 CHF 55.430
Landesbank Hessen-Thuerin3.000 12/16/2020 EUR 70.100
EFG International Finance8.000 5/26/2020 USD 52.580
Vontobel Financial Produc10.500 3/27/2020 EUR 53.680
Vontobel Financial Produc12.500 3/27/2020 EUR 50.970
Vontobel Financial Produc6.000 3/27/2020 EUR 72.340
BNP Paribas Emissions- un5.000 6/25/2020 EUR 54.200
BNP Paribas Emissions- un5.000 6/25/2020 EUR 54.060
BNP Paribas Emissions- un9.000 6/25/2020 EUR 55.440
BNP Paribas Emissions- un4.000 3/26/2020 EUR 52.910
BNP Paribas Emissions- un5.000 3/26/2020 EUR 54.560
Luzerner Kantonalbank AG 10.000 8/28/2020 CHF 68.840
BNP Paribas Emissions- un6.000 6/25/2020 EUR 54.400
Landesbank Baden-Wuerttem3.500 6/26/2020 EUR 74.360
Landesbank Baden-Wuerttem4.000 5/27/2022 EUR 75.520
UniCredit Bank AG 4.000 7/31/2020 EUR 74.490
Leonteq Securities AG/Gue7.400 3/3/2020 CHF 60.620
Macquarie Internationale 11.550 8/28/2023 ZAR 13.697
Commerzbank AG 30.000 6/30/2020 USD
Landesbank Baden-Wuerttem5.300 6/26/2020 EUR 72.680
HSBC Trinkaus & Burkhardt8.000 6/26/2020 EUR 58.020
HSBC Trinkaus & Burkhardt8.200 9/25/2020 EUR 58.210
HSBC Trinkaus & Burkhardt5.400 12/28/2020 EUR 62.770
HSBC Trinkaus & Burkhardt6.000 7/24/2020 EUR 61.330
HSBC Trinkaus & Burkhardt10.300 6/26/2020 EUR 57.090
HSBC Trinkaus & Burkhardt9.400 7/24/2020 EUR 58.310
HSBC Trinkaus & Burkhardt7.200 6/26/2020 EUR 69.920
Vontobel Financial Produc7.000 3/27/2020 EUR 65.500
Vontobel Financial Produc7.500 3/27/2020 EUR 54.120
Vontobel Financial Produc9.250 3/26/2020 EUR 71.280
Commerzbank AG 15.500 3/27/2020 EUR 68.230
Commerzbank AG 11.750 3/27/2020 EUR 74.870
Commerzbank AG 11.000 3/27/2020 EUR 69.970
DZ Bank AG Deutsche Zentr7.500 6/24/2020 EUR 52.560
DZ Bank AG Deutsche Zentr8.750 6/24/2020 EUR 72.910
Commerzbank AG 11.500 3/27/2020 EUR 71.270
Commerzbank AG 3.250 3/27/2020 EUR 68.490
Commerzbank AG 5.250 3/27/2020 EUR 61.720
Commerzbank AG 7.250 3/27/2020 EUR 57.580
DZ Bank AG Deutsche Zentr5.250 6/24/2020 EUR 71.810
DZ Bank AG Deutsche Zentr8.500 6/24/2020 EUR 67.040
DZ Bank AG Deutsche Zentr11.000 6/24/2020 EUR 68.210
UBS AG/London 10.000 3/29/2021 EUR 75.650
Landesbank Hessen-Thuerin6.100 4/26/2024 EUR 67.170
UBS AG/London 7.200 5/22/2020 EUR 68.930
Commerzbank AG 8.500 3/27/2020 EUR 70.450
Commerzbank AG 10.500 3/27/2020 EUR 66.220
Commerzbank AG 12.500 3/27/2020 EUR 62.930
Commerzbank AG 14.500 3/27/2020 EUR 60.000
HSBC Trinkaus & Burkhardt8.700 9/25/2020 EUR 56.970
HSBC Trinkaus & Burkhardt8.200 3/27/2020 EUR 69.580
HSBC Trinkaus & Burkhardt7.200 9/25/2020 EUR 71.700
HSBC Trinkaus & Burkhardt8.800 7/24/2020 EUR 70.250
Bank Julius Baer & Co Ltd10.700 9/28/2020 EUR 61.800
Vontobel Financial Produc12.000 3/27/2020 EUR 73.280
Vontobel Financial Produc8.000 3/27/2020 EUR 52.750
Vontobel Financial Produc10.000 3/27/2020 EUR 74.770
Vontobel Financial Produc9.250 3/27/2020 EUR 74.110
Commerzbank AG 9.500 3/27/2020 EUR 53.610
UniCredit Bank AG 3.600 7/18/2021 EUR 50.810
Landesbank Baden-Wuerttem4.000 6/26/2020 EUR 73.030
Landesbank Hessen-Thuerin5.650 10/28/2022 EUR 32.980
Vontobel Financial Produc16.000 12/28/2020 EUR 71.780
Vontobel Financial Produc13.000 12/28/2020 EUR 73.120
Commerzbank AG 16.250 7/24/2020 EUR 73.330
UniCredit Bank AG 9.200 12/29/2020 EUR 68.780
UniCredit Bank AG 8.500 12/29/2020 EUR 62.390
UniCredit Bank AG 6.800 12/29/2020 EUR 50.980
UniCredit Bank AG 8.700 12/29/2020 EUR 63.770
UniCredit Bank AG 8.100 12/29/2020 EUR 63.520
UniCredit Bank AG 7.600 12/29/2020 EUR 35.120
UniCredit Bank AG 6.700 12/29/2020 EUR 36.220
UniCredit Bank AG 11.800 12/29/2020 EUR 48.520
UniCredit Bank AG 10.000 12/29/2020 EUR 39.000
UniCredit Bank AG 8.100 12/29/2020 EUR 62.680
UniCredit Bank AG 8.900 12/29/2020 EUR 25.110
UniCredit Bank AG 7.300 12/29/2020 EUR 57.320
UniCredit Bank AG 6.600 12/29/2020 EUR 58.590
UniCredit Bank AG 9.300 12/29/2020 EUR 43.500
UniCredit Bank AG 7.600 12/29/2020 EUR 41.880
UniCredit Bank AG 7.800 12/29/2020 EUR 72.880
UniCredit Bank AG 8.400 12/29/2020 EUR 56.670
UniCredit Bank AG 8.100 12/29/2020 EUR 58.120
UniCredit Bank AG 6.100 12/29/2020 EUR 67.170
Vontobel Financial Produc9.000 6/5/2020 EUR 49.920
UniCredit Bank AG 4.000 6/7/2022 EUR 61.270
Leonteq Securities AG/Gue5.600 5/25/2021 CHF 55.950
Landesbank Baden-Wuerttem4.650 3/27/2020 EUR 56.780
UBS AG/London 11.000 5/4/2020 USD 63.000
UBS AG/London 7.000 5/4/2020 CHF 69.000
Raiffeisen Schweiz Genoss4.600 5/25/2020 CHF 52.810
Raiffeisen Schweiz Genoss8.600 5/28/2020 CHF 54.850
Raiffeisen Schweiz Genoss6.450 5/25/2020 CHF 67.900
UBS AG/London 6.000 5/18/2020 CHF 54.200
Landesbank Hessen-Thuerin2.350 12/21/2020 EUR 73.600
UniCredit Bank AG 7.000 12/29/2020 EUR 72.610
UniCredit Bank AG 9.800 12/29/2020 EUR 59.240
UniCredit Bank AG 9.400 12/29/2020 EUR 60.370
UniCredit Bank AG 6.300 12/29/2020 EUR 58.590
UniCredit Bank AG 10.100 12/29/2020 EUR 76.120
UniCredit Bank AG 9.300 12/29/2020 EUR 62.240
UniCredit Bank AG 6.600 12/29/2020 EUR 60.160
UniCredit Bank AG 10.500 12/29/2020 EUR 73.460
UniCredit Bank AG 6.900 12/29/2020 EUR 59.240
UniCredit Bank AG 9.800 12/29/2020 EUR 74.180
UniCredit Bank AG 8.800 12/29/2020 EUR 61.020
UniCredit Bank AG 8.100 12/29/2020 EUR 72.360
UniCredit Bank AG 11.500 12/29/2020 EUR 73.290
UniCredit Bank AG 9.200 12/29/2020 EUR 56.000
UniCredit Bank AG 6.600 12/29/2020 EUR 66.180
UniCredit Bank AG 6.600 12/29/2020 EUR 50.870
UniCredit Bank AG 8.300 12/29/2020 EUR 47.690
UniCredit Bank AG 7.000 12/29/2020 EUR 44.090
UniCredit Bank AG 8.400 12/29/2020 EUR 44.680
UniCredit Bank AG 9.200 12/29/2020 EUR 43.160
UniCredit Bank AG 6.400 12/29/2020 EUR 61.600
UniCredit Bank AG 8.300 12/29/2020 EUR 63.450
UniCredit Bank AG 10.600 12/29/2020 EUR 73.290
UniCredit Bank AG 10.800 12/29/2020 EUR 66.150
UniCredit Bank AG 8.000 12/29/2020 EUR 62.960
Raiffeisen Centrobank AG 7.200 6/19/2020 EUR 69.630
Banque Cantonale Vaudoise2.750 5/25/2020 CHF 70.580
UBS AG/London 21.500 9/24/2020 EUR 71.720
EFG International Finance7.200 10/5/2020 USD 61.510
DekaBank Deutsche Girozen2.250 10/16/2020 EUR 73.520
DekaBank Deutsche Girozen3.000 6/18/2020 EUR 74.720
EFG International Finance7.200 7/29/2020 EUR 10.880
Leonteq Securities AG/Gue6.000 4/2/2020 CHF 70.990
UniCredit Bank AG 4.300 10/18/2021 EUR 71.990
Landesbank Hessen-Thuerin5.700 10/27/2022 EUR 48.630
Landesbank Baden-Wuerttem2.850 10/23/2020 EUR 73.150
Landesbank Baden-Wuerttem3.000 10/23/2020 EUR 73.520
Landesbank Baden-Wuerttem3.500 10/23/2020 EUR 67.050
DekaBank Deutsche Girozen4.150 4/30/2020 EUR 60.450
DekaBank Deutsche Girozen2.250 11/8/2022 EUR 68.540
UniCredit Bank AG 3.120 9/25/2020 EUR 42.800
UniCredit Bank AG 3.800 10/24/2021 EUR 59.570
UBS AG/London 7.000 3/27/2020 CHF 74.250
EFG International Finance7.000 10/12/2020 EUR 64.930
UniCredit Bank AG 3.900 10/24/2021 EUR 65.170
Leonteq Securities AG/Gue8.100 4/6/2020 CHF 61.830
Landesbank Hessen-Thuerin3.350 8/6/2021 EUR 62.900
Landesbank Hessen-Thuerin3.000 8/6/2021 EUR 56.100
Landesbank Baden-Wuerttem2.750 9/23/2022 EUR 74.130
DekaBank Deutsche Girozen3.000 5/20/2020 EUR 62.590
Landesbank Hessen-Thuerin8.900 10/6/2020 EUR 23.500
Credit Suisse AG/London 8.000 6/11/2020 USD 5.138
UniCredit Bank AG 3.800 7/23/2020 EUR 56.300
UniCredit Bank AG 4.350 7/21/2020 EUR 71.870
SG Issuer SA 6.420 9/25/2020 CHF 69.550
Landesbank Hessen-Thuerin3.500 10/27/2021 EUR 70.070
DekaBank Deutsche Girozen2.000 10/16/2020 EUR 49.930
Leonteq Securities AG/Gue7.000 9/29/2020 CHF 73.900
Leonteq Securities AG/Gue8.000 9/29/2020 EUR 68.880
HSBC Trinkaus & Burkhardt3.000 12/29/2020 EUR 72.840
EFG International Finance6.600 9/28/2020 EUR 75.400
Landesbank Hessen-Thuerin7.000 10/20/2022 EUR 73.930
Commerzbank AG 16.500 6/26/2020 EUR 70.300
Vontobel Financial Produc14.500 12/28/2020 EUR 72.340
Vontobel Financial Produc12.000 12/28/2020 EUR 74.190
UniCredit Bank AG 6.100 12/29/2020 EUR 52.330
UniCredit Bank AG 7.900 12/29/2020 EUR 65.150
UniCredit Bank AG 7.200 12/29/2020 EUR 66.620
UniCredit Bank AG 7.300 12/29/2020 EUR 55.950
UniCredit Bank AG 7.100 12/29/2020 EUR 75.540
UniCredit Bank AG 7.300 12/29/2020 EUR 74.820
UniCredit Bank AG 9.500 12/29/2020 EUR 59.480
UniCredit Bank AG 11.000 12/29/2020 EUR 74.590
UniCredit Bank AG 8.400 12/29/2020 EUR 56.960
UniCredit Bank AG 8.100 12/29/2020 EUR 58.030
UniCredit Bank AG 9.300 12/29/2020 EUR 39.470
UniCredit Bank AG 8.400 12/29/2020 EUR 25.270
UniCredit Bank AG 10.500 12/29/2020 EUR 41.590
UniCredit Bank AG 10.200 12/29/2020 EUR 72.560
UniCredit Bank AG 8.000 12/29/2020 EUR 42.850
UniCredit Bank AG 8.500 12/29/2020 EUR 52.160
UniCredit Bank AG 7.500 12/29/2020 EUR 65.280
UniCredit Bank AG 12.000 12/29/2020 EUR 28.810
UniCredit Bank AG 13.900 12/29/2020 EUR 27.420
UniCredit Bank AG 8.700 12/29/2020 EUR 40.140
UniCredit Bank AG 9.200 12/29/2020 EUR 51.070
UniCredit Bank AG 8.900 12/29/2020 EUR 56.540
UniCredit Bank AG 4.000 6/11/2020 EUR 65.970
UBS AG/London 9.500 11/16/2020 USD 51.500
Landesbank Hessen-Thuerin5.350 9/22/2023 EUR 64.670
DekaBank Deutsche Girozen2.800 6/19/2020 EUR 48.880
EFG International Finance5.550 7/12/2021 USD 63.500
Raiffeisen Schweiz Genoss5.200 12/1/2020 CHF 50.630
UBS AG/London 12.200 9/24/2020 EUR 65.940
UBS AG/London 25.000 9/24/2020 EUR 61.860
UBS AG/London 23.000 6/25/2020 EUR 60.230
Leonteq Securities AG/Gue6.000 6/8/2020 CHF 68.570
Vontobel Financial Produc17.500 9/25/2020 EUR 72.450
DekaBank Deutsche Girozen2.750 6/26/2020 EUR 68.120
DZ Bank AG Deutsche Zentr8.250 3/25/2020 EUR 66.610
Raiffeisen Switzerland BV11.250 11/25/2020 CHF 38.050
UBS AG/London 17.700 9/24/2020 EUR 73.300
Commerzbank AG 14.500 3/27/2020 EUR 69.260
Vontobel Financial Produc6.500 9/25/2020 EUR 67.970
Vontobel Financial Produc7.000 12/28/2020 EUR 67.900
Vontobel Financial Produc15.500 12/28/2020 EUR 74.770
Leonteq Securities AG/Gue6.000 6/23/2020 CHF 64.700
Landesbank Baden-Wuerttem4.000 7/24/2020 EUR 74.510
Getin Noble Bank SA 5.790 6/28/2024 PLN 74.000
HSBC Trinkaus & Burkhardt5.000 12/29/2020 EUR 65.200
DZ Bank AG Deutsche Zentr15.250 5/20/2020 EUR 66.010
Corner Banca SA 8.600 6/16/2020 CHF 69.110
Landesbank Baden-Wuerttem3.100 7/24/2020 EUR 72.230
Societe Generale SA 8.000 5/28/2027 USD 39.500
DekaBank Deutsche Girozen3.000 6/21/2021 EUR 33.760
Corner Banca SA 7.600 6/16/2020 CHF 67.040
Landesbank Hessen-Thuerin4.000 1/13/2021 EUR 69.100
Vontobel Financial Produc13.000 9/25/2020 EUR 68.585
UBS AG/London 18.100 9/24/2020 EUR 62.930
UBS AG/London 9.400 9/24/2020 EUR 68.140
DZ Bank AG Deutsche Zentr7.000 9/23/2020 EUR 72.510
UBS AG/London 6.800 9/24/2020 EUR 70.930
UBS AG/London 15.000 9/24/2020 EUR 64.160
UBS AG/London 13.500 9/11/2020 USD 72.380
SG Issuer SA 0.800 11/30/2020 SEK 11.710
Vontobel Financial Produc7.000 9/25/2020 EUR 70.870
Vontobel Financial Produc5.000 9/25/2020 EUR 74.520
Vontobel Financial Produc6.000 9/25/2020 EUR 72.740
Vontobel Financial Produc5.500 3/27/2020 EUR 64.410
Vontobel Financial Produc8.500 3/27/2020 EUR 72.790
Vontobel Financial Produc10.000 3/27/2020 EUR 68.780
Deutsche Bank AG 4.200 9/22/2020 EUR 74.800
DekaBank Deutsche Girozen2.050 12/11/2020 EUR 59.380
DekaBank Deutsche Girozen4.250 8/21/2020 EUR 60.630
Landesbank Baden-Wuerttem2.600 11/27/2020 EUR 49.370
Bank Julius Baer & Co Ltd6.300 10/23/2020 EUR 72.500
UBS AG/London 8.500 10/23/2020 EUR 73.000
Landesbank Hessen-Thuerin5.450 11/17/2022 EUR 59.580
Landesbank Hessen-Thuerin8.600 11/17/2022 EUR 58.060
Landesbank Baden-Wuerttem3.000 12/29/2020 EUR 66.260
Landesbank Baden-Wuerttem3.000 12/29/2020 EUR 74.770
Landesbank Baden-Wuerttem3.600 12/29/2020 EUR 62.370
DekaBank Deutsche Girozen2.300 11/13/2020 EUR 67.440
UBS AG/London 9.500 4/20/2020 CHF 75.800
EFG International Finance7.200 11/2/2020 EUR 60.280
Landesbank Hessen-Thuerin4.000 11/24/2021 EUR 54.820
Landesbank Baden-Wuerttem2.800 7/24/2020 EUR 75.530
UniCredit Bank AG 3.700 5/28/2021 EUR 70.200
Landesbank Hessen-Thuerin2.200 11/24/2020 EUR 54.610
Landesbank Hessen-Thuerin6.450 2/24/2023 EUR 51.370
Leonteq Securities AG/Gue6.400 11/3/2021 CHF 74.260
Leonteq Securities AG/Gue6.400 11/3/2020 EUR 53.200
DZ Bank AG Deutsche Zentr7.300 3/23/2020 EUR 61.110
Credit Suisse AG/London 8.500 2/26/2020 CHF 72.570
Societe Generale Effekten9.508 6/19/2020 EUR 69.790
BNP Paribas Emissions- un7.500 6/25/2020 EUR 73.050
BNP Paribas Emissions- un9.500 6/25/2020 EUR 73.740
BNP Paribas Emissions- un5.000 9/24/2020 EUR 73.110
BNP Paribas Emissions- un6.500 9/24/2020 EUR 72.460
BNP Paribas Emissions- un9.000 9/24/2020 EUR 70.490
BNP Paribas Emissions- un6.000 6/25/2020 EUR 71.400
BNP Paribas Emissions- un7.500 6/25/2020 EUR 70.820
BNP Paribas Emissions- un15.000 6/25/2020 EUR 70.250
BNP Paribas Emissions- un14.000 6/25/2020 EUR 68.900
BNP Paribas Emissions- un21.000 6/25/2020 EUR 67.560
BNP Paribas Emissions- un12.000 9/24/2020 EUR 69.940
BNP Paribas Emissions- un14.000 9/24/2020 EUR 68.910
BNP Paribas Emissions- un17.000 9/24/2020 EUR 69.420
BNP Paribas Emissions- un19.000 9/24/2020 EUR 68.970
Raiffeisen Schweiz Genoss9.000 10/12/2020 CHF 59.230
EFG International Finance7.200 10/26/2020 EUR 61.740
Landesbank Hessen-Thuerin4.000 8/26/2020 EUR 55.800
Landesbank Hessen-Thuerin5.700 6/2/2023 EUR 73.860
UBS AG/London 6.500 7/31/2020 CHF 64.400
UBS AG/London 7.500 7/31/2020 EUR 50.300
Raiffeisen Centrobank AG 5.450 3/3/2020 EUR 67.400
Bank Julius Baer & Co Ltd7.700 10/26/2020 EUR 66.300
SG Issuer SA 5.000 7/10/2020 EUR
SG Issuer SA 5.000 7/10/2021 EUR
Raiffeisen Schweiz Genoss6.000 5/25/2020 EUR 69.210
Raiffeisen Schweiz Genoss7.500 5/25/2020 CHF 22.140
UBS AG/London 10.000 5/18/2020 CHF 48.100
DekaBank Deutsche Girozen2.660 2/28/2020 EUR 67.210
DekaBank Deutsche Girozen2.800 6/18/2021 EUR 72.750
EFG International Finance7.000 6/8/2021 EUR 72.900
Leonteq Securities AG 7.400 11/25/2020 CHF 47.510
Raiffeisen Centrobank AG 5.500 6/30/2020 EUR 71.980
UBS AG/London 7.000 6/2/2020 CHF 51.950
UniCredit Bank AG 3.850 6/28/2022 EUR 57.410
Credit Suisse AG/Nassau 7.250 6/8/2020 EUR 70.660
UniCredit Bank AG 3.800 6/28/2022 EUR 59.240
Natixis SA 3.150 6/9/2021 USD 46.104
Landesbank Baden-Wuerttem5.000 2/28/2020 EUR 54.860
Landesbank Baden-Wuerttem5.300 2/28/2020 EUR 50.970
Landesbank Hessen-Thuerin3.500 7/6/2022 EUR 70.780
Raiffeisen Schweiz Genoss4.800 12/8/2020 CHF 50.320
Leonteq Securities AG 5.200 6/11/2020 CHF 52.880
BNP Paribas Issuance BV 6.400 6/1/2020 EUR 58.500
DekaBank Deutsche Girozen3.000 6/26/2020 EUR 68.410
DekaBank Deutsche Girozen2.000 6/25/2021 EUR 53.540
Vontobel Financial Produc12.000 3/27/2020 EUR 65.580
Vontobel Financial Produc11.000 3/27/2020 EUR 73.170
DZ Bank AG Deutsche Zentr5.500 3/25/2020 EUR 65.730
Bank Julius Baer & Co Ltd9.450 5/11/2020 USD 62.400
Vontobel Financial Produc13.500 6/26/2020 EUR 56.360
Vontobel Financial Produc8.000 3/27/2020 EUR 60.350
Vontobel Financial Produc9.500 3/27/2020 EUR 58.720
Vontobel Financial Produc13.000 3/27/2020 EUR 55.540
Vontobel Financial Produc6.000 6/26/2020 EUR 64.630
Vontobel Financial Produc9.500 6/26/2020 EUR 59.970
Vontobel Financial Produc10.500 6/26/2020 EUR 58.500
Vontobel Financial Produc12.000 6/26/2020 EUR 57.320
Vontobel Financial Produc12.500 6/26/2020 EUR 74.290
Vontobel Financial Produc10.000 6/26/2020 EUR 73.450
Vontobel Financial Produc5.000 3/27/2020 EUR 76.520
Vontobel Financial Produc8.000 3/27/2020 EUR 71.950
Vontobel Financial Produc9.500 3/27/2020 EUR 69.890
UniCredit Bank AG 4.000 12/7/2020 EUR 74.420
Landesbank Baden-Wuerttem6.000 8/27/2021 EUR 64.480
Vontobel Financial Produc10.000 6/12/2020 EUR 57.940
Vontobel Financial Produc6.500 3/27/2020 EUR 62.240
Vontobel Financial Produc11.500 3/27/2020 EUR 57.070
Vontobel Financial Produc8.000 6/26/2020 EUR 61.240
Vontobel Financial Produc7.000 6/26/2020 EUR 62.870
Vontobel Financial Produc17.000 6/26/2020 EUR 70.580
Vontobel Financial Produc10.500 6/26/2020 EUR 68.050
Vontobel Financial Produc17.000 3/27/2020 EUR 65.950
DZ Bank AG Deutsche Zentr6.900 3/23/2020 EUR 56.660
DZ Bank AG Deutsche Zentr11.000 6/22/2020 EUR 51.090
UniCredit Bank AG 6.200 6/26/2020 EUR 65.820
UniCredit Bank AG 12.300 6/26/2020 EUR 59.740
UniCredit Bank AG 13.500 6/26/2020 EUR 69.570
UniCredit Bank AG 11.800 6/26/2020 EUR 72.090
UniCredit Bank AG 10.700 6/26/2020 EUR 68.660
Leonteq Securities AG 9.000 3/27/2020 USD 46.960
Societe Generale Effekten22.434 3/20/2020 EUR 74.310
Societe Generale Effekten26.833 3/20/2020 EUR 70.390
Societe Generale Effekten21.995 3/20/2020 EUR 65.890
Societe Generale Effekten22.874 3/20/2020 EUR 65.000
Societe Generale Effekten19.135 3/20/2020 EUR 71.430
Societe Generale Effekten25.514 3/20/2020 EUR 69.430
Societe Generale Effekten15.836 3/20/2020 EUR 67.910
Societe Generale Effekten18.342 6/19/2020 EUR 70.060
Societe Generale Effekten12.977 3/20/2020 EUR 71.790
Societe Generale Effekten14.077 3/20/2020 EUR 65.960
Societe Generale Effekten8.958 9/18/2020 EUR 71.970
Societe Generale Effekten7.337 6/19/2020 EUR 58.190
Societe Generale Effekten27.053 3/20/2020 EUR 73.450
Bank Julius Baer & Co Ltd5.600 5/5/2020 EUR 73.900
Vontobel Financial Produc8.000 6/12/2020 EUR 71.980
Vontobel Financial Produc13.500 6/12/2020 EUR 65.090
Vontobel Financial Produc13.000 6/12/2020 EUR 74.640
Vontobel Financial Produc7.750 3/27/2020 EUR 69.850
Commerzbank AG 8.750 3/27/2020 EUR 58.790
Commerzbank AG 12.750 3/27/2020 EUR 53.410
Zurcher Kantonalbank Fina1.003 4/9/2020 CHF 66.480
Vontobel Financial Produc17.500 6/26/2020 EUR 69.500
Bank Julius Baer & Co Ltd11.250 8/6/2020 EUR 60.250
Landesbank Baden-Wuerttem3.250 8/27/2021 EUR 71.080
Landesbank Baden-Wuerttem4.000 8/27/2021 EUR 68.340
Landesbank Baden-Wuerttem5.000 8/27/2021 EUR 66.270
Vontobel Financial Produc13.000 6/12/2020 EUR 55.670
Vontobel Financial Produc7.500 6/12/2020 EUR 60.710
Societe Generale Effekten28.219 6/19/2020 EUR 73.160
Societe Generale Effekten16.649 6/19/2020 EUR 74.150
Societe Generale Effekten22.874 3/20/2020 EUR 42.110
Commerzbank AG 3.000 3/27/2020 EUR 73.490
Vontobel Financial Produc10.500 6/12/2020 EUR 66.070
Vontobel Financial Produc11.500 6/12/2020 EUR 67.090
DZ Bank AG Deutsche Zentr8.500 12/23/2020 EUR 73.010
Vontobel Financial Produc8.500 12/28/2020 EUR 71.650
UniCredit Bank AG 4.200 2/19/2022 EUR 65.680
Leonteq Securities AG 3.800 2/15/2021 CHF 32.080
Credit Suisse AG/Nassau 5.500 2/17/2020 CHF 73.390
UBS AG/London 6.750 7/31/2020 CHF 72.200
EFG International Finance7.000 2/15/2021 CHF 72.380
EFG International Finance7.800 2/15/2021 EUR 59.230
Landesbank Baden-Wuerttem3.000 2/26/2021 EUR 67.220
Corner Banca SA 7.600 2/2/2021 CHF 69.680
DekaBank Deutsche Girozen6.550 8/21/2020 EUR 57.830
Landesbank Hessen-Thuerin3.500 3/9/2022 EUR 65.220
Zurcher Kantonalbank Fina4.704 2/5/2021 CHF 73.930
DZ Bank AG Deutsche Zentr4.250 9/21/2020 EUR 67.520
DZ Bank AG Deutsche Zentr6.200 9/21/2020 EUR 73.760
Commerzbank AG 11.750 8/28/2020 EUR 70.500
National Capital JSC 10.000 9/15/2020 RUB 100.00
DekaBank Deutsche Girozen2.700 7/1/2020 EUR 62.190
DekaBank Deutsche Girozen3.000 9/23/2020 EUR 74.910
Leonteq Securities AG/Gue14.200 11/5/2020 USD 70.120
Commerzbank AG 9.750 8/28/2020 EUR 72.760
Societe Generale Effekten13.589 3/27/2020 EUR 73.180
Societe Generale Effekten14.057 3/27/2020 EUR 73.260
Societe Generale Effekten12.671 4/24/2020 EUR 71.460
Landesbank Baden-Wuerttem5.500 6/25/2021 EUR 76.030
Landesbank Baden-Wuerttem3.000 6/25/2021 EUR 65.460
Landesbank Baden-Wuerttem5.000 6/25/2021 EUR 61.360
Landesbank Baden-Wuerttem6.500 6/25/2021 EUR 59.830
Landesbank Baden-Wuerttem2.000 6/25/2021 EUR 73.110
DekaBank Deutsche Girozen5.500 12/3/2021 EUR 65.410
Vontobel Financial Produc16.000 6/26/2020 EUR 74.570
Societe Generale Effekten20.895 3/20/2020 EUR 66.800
Societe Generale Effekten22.214 3/20/2020 EUR 70.780
Societe Generale Effekten25.074 3/20/2020 EUR 67.760
Societe Generale Effekten11.217 3/20/2020 EUR 73.940
Societe Generale Effekten7.619 6/19/2020 EUR 71.260
Societe Generale Effekten17.156 3/20/2020 EUR 45.260
Societe Generale Effekten11.570 6/19/2020 EUR 53.320
Societe Generale Effekten19.471 6/19/2020 EUR 48.770
DZ Bank AG Deutsche Zentr4.250 12/21/2020 EUR 68.000
DZ Bank AG Deutsche Zentr7.100 9/21/2020 EUR 72.220
DZ Bank AG Deutsche Zentr6.900 12/21/2020 EUR 73.330
Vontobel Financial Produc10.000 9/25/2020 EUR 68.310
Vontobel Financial Produc11.000 9/25/2020 EUR 66.740
Vontobel Financial Produc12.500 9/25/2020 EUR 65.730
Vontobel Financial Produc9.500 6/26/2020 EUR 68.130
Landesbank Hessen-Thuerin4.000 11/10/2021 EUR 63.520
DekaBank Deutsche Girozen2.000 11/2/2020 EUR 71.180
EFG International Finance7.200 10/26/2020 USD 63.650
DekaBank Deutsche Girozen3.000 6/26/2020 EUR 71.750
UniCredit Bank AG 4.250 11/21/2021 EUR 64.770
UniCredit Bank AG 4.200 11/21/2021 EUR 60.130
UniCredit Bank AG 4.350 11/21/2021 EUR 72.970
SG Issuer SA 0.820 8/2/2021 SEK 13.850
BNP Paribas Emissions- un5.000 6/25/2020 EUR 73.920
BNP Paribas Emissions- un6.000 6/25/2020 EUR 74.260
BNP Paribas Emissions- un8.000 6/25/2020 EUR 74.950
BNP Paribas Emissions- un7.500 9/24/2020 EUR 71.050
BNP Paribas Emissions- un9.000 6/25/2020 EUR 69.730
BNP Paribas Emissions- un11.000 6/25/2020 EUR 68.870
BNP Paribas Emissions- un15.000 6/25/2020 EUR 68.270
BNP Paribas Emissions- un18.000 6/25/2020 EUR 67.890
BNP Paribas Emissions- un17.000 6/25/2020 EUR 66.180
BNP Paribas Emissions- un20.000 6/25/2020 EUR 66.330
BNP Paribas Emissions- un4.000 9/24/2020 EUR 75.160
BNP Paribas Emissions- un16.000 9/24/2020 EUR 68.000
BNP Paribas Emissions- un18.000 9/24/2020 EUR 69.190
Leonteq Securities AG/Gue7.000 4/16/2020 CHF 56.880
Landesbank Baden-Wuerttem2.750 10/23/2020 EUR 73.920
Landesbank Baden-Wuerttem2.400 2/25/2022 EUR 75.470
UniCredit Bank AG 3.250 2/27/2022 EUR 62.790
Leonteq Securities AG/Gue8.000 8/5/2020 CHF 65.140
BNP Paribas Emissions- un7.000 9/24/2020 EUR 74.300
BNP Paribas Emissions- un8.500 9/24/2020 EUR 73.650
BNP Paribas Emissions- un8.000 6/25/2020 EUR 72.090
BNP Paribas Emissions- un9.500 6/25/2020 EUR 71.510
BNP Paribas Emissions- un12.000 6/25/2020 EUR 68.210
BNP Paribas Emissions- un16.000 6/25/2020 EUR 67.200
BNP Paribas Emissions- un22.000 6/25/2020 EUR 67.020
BNP Paribas Emissions- un23.000 6/25/2020 EUR 66.510
BNP Paribas Emissions- un4.500 9/24/2020 EUR 74.390
BNP Paribas Emissions- un11.000 9/24/2020 EUR 70.260
Societe Generale Effekten8.065 12/18/2020 EUR 73.590
Societe Generale Effekten10.646 12/18/2020 EUR 70.660
Societe Generale Effekten13.872 12/18/2020 EUR 68.650
Societe Generale Effekten17.098 12/18/2020 EUR 67.120
Societe Generale Effekten20.324 12/18/2020 EUR 65.980
Societe Generale Effekten26.776 12/18/2020 EUR 64.720
DekaBank Deutsche Girozen2.000 2/12/2021 EUR 72.310
DekaBank Deutsche Girozen2.800 2/12/2021 EUR 67.280
Leonteq Securities AG/Gue8.000 7/29/2020 EUR 59.000
Landesbank Baden-Wuerttem2.650 1/27/2023 EUR 69.210
UBS AG/London 10.000 2/20/2020 CHF 71.200
Societe Generale Effekten12.913 3/20/2020 EUR 72.230
Societe Generale Effekten14.273 3/20/2020 EUR 71.060
Societe Generale Effekten15.649 6/19/2020 EUR 74.590
BNP Paribas Emissions- un4.000 6/25/2020 EUR 73.570
BNP Paribas Emissions- un5.500 6/25/2020 EUR 72.360
BNP Paribas Emissions- un7.000 9/24/2020 EUR 71.750
BNP Paribas Emissions- un9.000 9/24/2020 EUR 72.940
BNP Paribas Emissions- un9.500 9/24/2020 EUR 72.240
BNP Paribas Emissions- un10.000 6/25/2020 EUR 72.780
BNP Paribas Emissions- un10.000 6/25/2020 EUR 70.080
BNP Paribas Emissions- un19.000 6/25/2020 EUR 66.870
BNP Paribas Emissions- un21.000 6/25/2020 EUR 65.820
BNP Paribas Emissions- un10.000 9/24/2020 EUR 71.080
BNP Paribas Emissions- un13.000 9/24/2020 EUR 69.630
BNP Paribas Emissions- un15.000 9/24/2020 EUR 68.230
BNP Paribas Emissions- un17.000 9/24/2020 EUR 67.780
BNP Paribas Emissions- un16.000 6/25/2020 EUR 73.110
Raiffeisen Centrobank AG 10.481 12/23/2020 EUR 74.340
UBS AG/London 10.000 8/20/2020 EUR 69.400
Zurcher Kantonalbank Fina12.250 2/27/2020 USD 60.970
BNP Paribas Emissions- un5.500 3/26/2020 EUR 66.970
BNP Paribas Emissions- un11.000 9/24/2020 EUR 70.360
Raiffeisen Centrobank AG 14.127 12/23/2020 EUR 74.330
BNP Paribas Emissions- un14.000 3/26/2020 EUR 65.090
BNP Paribas Emissions- un12.000 3/26/2020 EUR 69.740
BNP Paribas Emissions- un7.000 3/26/2020 EUR 69.720
BNP Paribas Emissions- un6.500 9/24/2020 EUR 72.900
Landesbank Baden-Wuerttem3.200 7/24/2020 EUR 68.670
Landesbank Baden-Wuerttem4.800 10/22/2021 EUR 73.800
Vontobel Financial Produc15.000 6/26/2020 EUR 63.670
Vontobel Financial Produc14.000 3/27/2020 EUR 68.140
Vontobel Financial Produc10.500 3/27/2020 EUR 68.930
Vontobel Financial Produc17.000 6/12/2020 EUR 75.440
Vontobel Financial Produc10.000 6/12/2020 EUR 72.610
UBS AG/London 6.600 6/25/2020 EUR 74.550
BNP Paribas Emissions- un11.000 9/24/2020 EUR 70.560
Vontobel Financial Produc13.400 9/16/2020 USD 73.740
UBS AG/London 5.900 12/28/2020 EUR 75.730
UBS AG/London 2.300 6/25/2020 EUR 73.450
UBS AG/London 18.600 6/25/2020 EUR 53.180
BNP Paribas Emissions- un9.000 12/24/2020 EUR 73.750
Landesbank Baden-Wuerttem3.000 8/28/2020 EUR 68.870
BNP Paribas Emissions- un22.000 3/26/2020 EUR 59.570
BNP Paribas Emissions- un6.000 9/24/2020 EUR 70.300
BNP Paribas Emissions- un8.000 9/24/2020 EUR 67.080
BNP Paribas Emissions- un10.000 9/24/2020 EUR 64.320
UBS AG/London 4.200 3/26/2020 EUR 64.250
Landesbank Baden-Wuerttem1.500 8/28/2020 EUR 74.370
UBS AG/London 12.300 3/26/2020 EUR 67.380
BNP Paribas Emissions- un16.000 3/26/2020 EUR 64.210
BNP Paribas Emissions- un6.000 6/25/2020 EUR 69.560
Landesbank Baden-Wuerttem3.650 3/27/2020 EUR 72.250
BNP Paribas Emissions- un13.000 12/24/2020 EUR 68.540
UBS AG/London 23.400 3/26/2020 EUR 49.670
UBS AG/London 10.200 6/25/2020 EUR 58.740
Landesbank Baden-Wuerttem6.500 8/28/2020 EUR 62.160
Volga Sport ZAO 9.130 2/29/2024 RUB 100.00
BNP Paribas Emissions- un8.000 6/25/2020 EUR 65.600
BNP Paribas Emissions- un6.000 12/24/2020 EUR 71.080
BNP Paribas Emissions- un8.500 12/24/2020 EUR 67.040
BNP Paribas Emissions- un8.500 3/26/2020 EUR 72.580
BNP Paribas Emissions- un10.000 12/24/2020 EUR 69.000
BNP Paribas Emissions- un8.500 3/26/2020 EUR 67.130
BNP Paribas Emissions- un12.000 3/26/2020 EUR 63.830
BNP Paribas Emissions- un23.000 3/26/2020 EUR 57.850
BNP Paribas Emissions- un8.500 9/24/2020 EUR 69.090
BNP Paribas Emissions- un17.000 9/24/2020 EUR 64.120
DZ Bank AG Deutsche Zentr6.500 8/26/2020 EUR 74.530
BNP Paribas Emissions- un7.500 3/26/2020 EUR 67.060
BNP Paribas Emissions- un9.500 3/26/2020 EUR 67.230
BNP Paribas Emissions- un17.000 3/26/2020 EUR 61.110
BNP Paribas Emissions- un20.000 3/26/2020 EUR 59.410
BNP Paribas Emissions- un8.000 9/24/2020 EUR 71.210
BNP Paribas Emissions- un9.500 9/24/2020 EUR 69.680
DZ Bank AG Deutsche Zentr10.500 12/23/2020 EUR 71.660
BNP Paribas Emissions- un9.000 3/26/2020 EUR 64.850
BNP Paribas Emissions- un14.000 3/26/2020 EUR 61.080
UBS AG/London 6.700 6/25/2020 EUR 61.080
UBS AG/London 12.100 6/25/2020 EUR 73.750
Commerzbank AG 14.500 6/26/2020 EUR 72.410
Leonteq Securities AG/Gue10.000 9/16/2020 EUR 68.180
UBS AG/London 16.300 6/25/2020 EUR 54.900
Commerzbank AG 12.500 6/26/2020 EUR 73.960
UBS AG/London 18.000 6/25/2020 EUR 50.650
Vontobel Financial Produc20.500 9/25/2020 EUR 67.760
Vontobel Financial Produc15.000 6/26/2020 EUR 56.950
Vontobel Financial Produc5.500 6/26/2020 EUR 69.110
Vontobel Financial Produc10.000 6/26/2020 EUR 61.890
Vontobel Financial Produc11.000 6/26/2020 EUR 60.500
Vontobel Financial Produc6.000 3/27/2020 EUR 66.830
Vontobel Financial Produc8.500 3/27/2020 EUR 62.530
Vontobel Financial Produc4.500 6/26/2020 EUR 71.300
DZ Bank AG Deutsche Zentr5.000 9/23/2020 EUR 65.780
BNP Paribas Emissions- un10.000 9/24/2020 EUR 61.730
BNP Paribas Emissions- un11.000 9/24/2020 EUR 60.570
BNP Paribas Emissions- un7.000 12/24/2020 EUR 66.470
BNP Paribas Emissions- un9.000 12/24/2020 EUR 63.340
BNP Paribas Emissions- un13.000 12/24/2020 EUR 60.340
BNP Paribas Emissions- un8.000 12/24/2020 EUR 73.810
BNP Paribas Emissions- un9.500 12/24/2020 EUR 71.160
BNP Paribas Emissions- un13.000 9/24/2020 EUR 74.260
BNP Paribas Emissions- un17.000 3/26/2020 EUR 72.070
Landesbank Baden-Wuerttem4.500 4/24/2020 EUR 72.480
Landesbank Baden-Wuerttem5.000 4/24/2020 EUR 60.900
Landesbank Baden-Wuerttem6.500 4/24/2020 EUR 57.430
DZ Bank AG Deutsche Zentr12.500 4/22/2020 EUR 63.050
DZ Bank AG Deutsche Zentr6.750 4/22/2020 EUR 72.360
EFG International Finance15.000 4/23/2020 USD 50.130
Vontobel Financial Produc14.000 6/26/2020 EUR 73.700
Vontobel Financial Produc9.500 6/26/2020 EUR 72.990
Vontobel Financial Produc9.500 3/27/2020 EUR 74.480
Vontobel Financial Produc13.000 3/27/2020 EUR 70.270
EFG International Finance8.000 3/9/2020 USD 48.220
Vontobel Financial Produc8.000 6/26/2020 EUR 70.000
Vontobel Financial Produc8.500 9/25/2020 EUR 69.500
Vontobel Financial Produc6.500 6/26/2020 EUR 72.020
Vontobel Financial Produc11.500 6/26/2020 EUR 66.660
Vontobel Financial Produc13.000 6/26/2020 EUR 65.010
Commerzbank AG 3.900 3/23/2022 USD 7.720
DekaBank Deutsche Girozen3.000 3/13/2020 EUR 61.940
DekaBank Deutsche Girozen3.350 3/15/2021 EUR 68.640
Vontobel Financial Produc18.750 3/13/2020 EUR 74.490
Societe Generale Effekten14.057 3/27/2020 EUR 73.220
Commerzbank AG 10.250 3/27/2020 EUR 61.400
DZ Bank AG Deutsche Zentr5.000 6/24/2020 EUR 64.370
Societe Generale Effekten14.057 3/27/2020 EUR 72.510
Societe Generale Effekten17.795 6/26/2020 EUR 72.650
Societe Generale Effekten21.164 12/28/2020 EUR 74.030
Societe Generale Effekten11.714 3/27/2020 EUR 73.790
Landesbank Baden-Wuerttem7.000 6/25/2021 EUR 74.420
Landesbank Baden-Wuerttem2.000 6/25/2021 EUR 70.100
Landesbank Baden-Wuerttem3.500 6/25/2021 EUR 63.970
Landesbank Baden-Wuerttem3.500 6/25/2021 EUR 67.490
Vontobel Financial Produc15.500 6/26/2020 EUR 44.700
UniCredit Bank AG 6.400 5/11/2020 EUR 76.280
Leonteq Securities AG/Gue18.400 4/8/2020 USD 61.650
Leonteq Securities AG/Gue15.600 4/8/2020 EUR 61.110
Commerzbank AG 12.750 3/27/2020 EUR 74.650
Landesbank Hessen-Thuerin6.250 7/15/2022 EUR 48.520
Getin Noble Bank SA 6.790 5/31/2023 PLN 75.000
Vontobel Financial Produc13.500 9/25/2020 EUR 72.410
Vontobel Financial Produc12.500 12/28/2020 EUR 74.900
Leonteq Securities AG/Gue3.400 3/20/2024 CHF 49.340
Vontobel Financial Produc8.500 9/25/2020 EUR 71.440
Societe Generale Effekten19.126 3/20/2020 EUR 38.380
Vontobel Financial Produc12.000 12/11/2020 EUR 71.700
Vontobel Financial Produc15.000 12/11/2020 EUR 70.320
Vontobel Financial Produc9.500 12/11/2020 EUR 73.910
Vontobel Financial Produc9.000 9/11/2020 EUR 74.310
Vontobel Financial Produc16.000 9/11/2020 EUR 69.250
Vontobel Financial Produc12.500 9/11/2020 EUR 71.490
Vontobel Financial Produc18.000 9/11/2020 EUR 68.440
UniCredit Bank AG 15.400 12/28/2020 EUR 73.110
UniCredit Bank AG 12.600 9/25/2020 EUR 74.250
DZ Bank AG Deutsche Zentr8.750 12/23/2020 EUR 70.180
DZ Bank AG Deutsche Zentr10.750 11/25/2020 EUR 73.930
DZ Bank AG Deutsche Zentr10.600 9/25/2020 EUR 59.110
DZ Bank AG Deutsche Zentr7.000 6/24/2020 EUR 68.980
Landesbank Baden-Wuerttem3.000 11/27/2020 EUR 66.730
Vontobel Financial Produc14.000 6/26/2020 EUR 58.100
Vontobel Financial Produc15.000 3/27/2020 EUR 55.760
Vontobel Financial Produc12.000 3/27/2020 EUR 58.870
Vontobel Financial Produc6.500 6/26/2020 EUR 66.990
Vontobel Financial Produc7.500 6/26/2020 EUR 65.100
Vontobel Financial Produc12.500 6/26/2020 EUR 59.220
Vontobel Financial Produc8.500 6/26/2020 EUR 63.340
Vontobel Financial Produc13.500 3/27/2020 EUR 57.290
Vontobel Financial Produc7.500 3/27/2020 EUR 64.550
Vontobel Financial Produc10.000 3/27/2020 EUR 60.640
EFG International Finance7.200 2/22/2021 CHF 28.610
Vontobel Financial Produc5.000 9/9/2020 EUR 66.970
Raiffeisen Schweiz Genoss6.900 2/19/2020 EUR 64.100
Leonteq Securities AG/Gue2.300 2/8/2023 CHF 57.910
UniCredit Bank AG 6.400 3/5/2021 EUR 43.720
UniCredit Bank AG 4.650 3/5/2021 EUR 67.870
Noyabrskaya Pge OOO 8.500 11/10/2020 RUB 60.010
Vontobel Financial Produc16.000 6/26/2020 EUR 64.990
Vontobel Financial Produc12.500 3/27/2020 EUR 72.770
Vontobel Financial Produc4.500 3/27/2020 EUR 60.040
Vontobel Financial Produc7.500 3/27/2020 EUR 54.940
Vontobel Financial Produc11.500 3/27/2020 EUR 50.860
Vontobel Financial Produc10.000 3/27/2020 EUR 52.120
Vontobel Financial Produc5.500 6/26/2020 EUR 58.480
Vontobel Financial Produc4.500 6/26/2020 EUR 59.990
Vontobel Financial Produc3.000 6/26/2020 EUR 63.560
Vontobel Financial Produc8.500 6/26/2020 EUR 54.580
Vontobel Financial Produc9.500 6/26/2020 EUR 53.460
Vontobel Financial Produc6.500 6/26/2020 EUR 57.080
Vontobel Financial Produc10.500 6/26/2020 EUR 52.430
Vontobel Financial Produc11.500 6/26/2020 EUR 51.470
Vontobel Financial Produc16.000 3/27/2020 EUR 62.760
BNP Paribas Emissions- un10.000 3/26/2020 EUR 75.120
BNP Paribas Emissions- un15.000 6/25/2020 EUR 71.560
BNP Paribas Emissions- un4.500 3/26/2020 EUR 66.750
BNP Paribas Emissions- un7.000 3/26/2020 EUR 63.390
BNP Paribas Emissions- un8.500 3/26/2020 EUR 60.290
BNP Paribas Emissions- un10.000 3/26/2020 EUR 58.450
BNP Paribas Emissions- un14.000 3/26/2020 EUR 54.410
BNP Paribas Emissions- un17.000 3/26/2020 EUR 52.360
BNP Paribas Emissions- un7.000 9/24/2020 EUR 64.860
BNP Paribas Emissions- un6.000 3/26/2020 EUR 60.310
BNP Paribas Emissions- un7.000 12/24/2020 EUR 60.490
BNP Paribas Emissions- un9.500 12/24/2020 EUR 76.220
BNP Paribas Emissions- un5.500 12/24/2020 EUR 68.470
BNP Paribas Emissions- un8.500 12/24/2020 EUR 64.760
BNP Paribas Emissions- un14.000 6/25/2020 EUR 72.640
BNP Paribas Emissions- un12.000 9/24/2020 EUR 74.710
BNP Paribas Emissions- un10.000 3/26/2020 EUR 70.010
BNP Paribas Emissions- un13.000 3/26/2020 EUR 66.000
BNP Paribas Emissions- un9.000 6/25/2020 EUR 71.090
BNP Paribas Emissions- un14.000 6/25/2020 EUR 71.780
BNP Paribas Emissions- un17.000 6/25/2020 EUR 74.220
Vontobel Financial Produc12.000 6/29/2020 EUR 70.870
Landesbank Baden-Wuerttem3.000 4/24/2020 EUR 64.820
Landesbank Baden-Wuerttem6.000 4/24/2020 EUR 71.410
DZ Bank AG Deutsche Zentr8.300 4/22/2020 EUR 57.100
Societe Generale Effekten25.504 9/18/2020 EUR 55.700
Societe Generale Effekten26.320 3/20/2020 EUR 71.840
Leonteq Securities AG 15.400 4/8/2020 CHF 61.080
Commerzbank AG 4.500 3/27/2020 EUR 67.800
Vontobel Financial Produc14.000 3/27/2020 EUR 70.700
Vontobel Financial Produc5.000 6/25/2020 EUR 62.160
Vontobel Financial Produc13.000 6/26/2020 EUR 74.200
Vontobel Financial Produc6.550 6/26/2020 EUR 49.180
Vontobel Financial Produc5.500 3/27/2020 EUR 58.230
Vontobel Financial Produc6.500 3/27/2020 EUR 56.530
Vontobel Financial Produc9.000 3/27/2020 EUR 53.510
Landesbank Baden-Wuerttem5.400 7/24/2020 EUR 67.980
DZ Bank AG Deutsche Zentr8.250 6/24/2020 EUR 73.700
Vontobel Financial Produc7.500 6/26/2020 EUR 55.780
Vontobel Financial Produc3.500 6/26/2020 EUR 61.620
Vontobel Financial Produc11.500 6/26/2020 EUR 73.530
Vontobel Financial Produc13.000 6/26/2020 EUR 71.910
BNP Paribas Emissions- un14.000 3/26/2020 EUR 69.830
BNP Paribas Emissions- un12.000 9/24/2020 EUR 72.580
BNP Paribas Emissions- un13.000 6/25/2020 EUR 73.310
BNP Paribas Emissions- un14.000 6/25/2020 EUR 72.410
BNP Paribas Emissions- un8.500 9/24/2020 EUR 62.710
BNP Paribas Emissions- un8.000 3/26/2020 EUR 56.780
BNP Paribas Emissions- un7.000 9/24/2020 EUR 59.010
BNP Paribas Emissions- un8.500 9/24/2020 EUR 56.760
BNP Paribas Emissions- un10.000 9/24/2020 EUR 54.840
BNP Paribas Emissions- un11.000 12/24/2020 EUR 55.540
BNP Paribas Emissions- un13.000 12/24/2020 EUR 75.160
Societe Generale Effekten4.397 9/18/2020 EUR 70.830
Societe Generale Effekten17.003 9/18/2020 EUR 58.460
Societe Generale Effekten19.641 9/18/2020 EUR 57.200
UniCredit Bank AG 16.200 6/26/2020 EUR 54.550
UniCredit Bank AG 4.100 12/24/2021 EUR 70.480
UniCredit Bank AG 10.200 12/28/2020 EUR 60.240
UniCredit Bank AG 4.400 6/25/2021 EUR 70.030
UniCredit Bank AG 7.600 6/25/2021 EUR 63.550
UniCredit Bank AG 10.500 6/26/2020 EUR 58.560
UniCredit Bank AG 4.300 6/26/2020 EUR 68.710
UniCredit Bank AG 6.600 12/24/2021 EUR 64.980
UniCredit Bank AG 10.100 6/25/2021 EUR 61.460
UniCredit Bank AG 19.300 3/27/2020 EUR 51.800
WEB Windenergie AG 2.500 9/26/2021 EUR 55.010
Landesbank Baden-Wuerttem4.500 11/27/2020 EUR 63.820
Landesbank Baden-Wuerttem6.000 11/27/2020 EUR 60.460
Goldman Sachs & Co Wertpa19.000 2/26/2020 EUR 73.820
Goldman Sachs & Co Wertpa23.000 2/26/2020 EUR 68.490
Goldman Sachs & Co Wertpa20.000 3/25/2020 EUR 71.620
Goldman Sachs & Co Wertpa24.000 3/25/2020 EUR 67.160
Goldman Sachs & Co Wertpa15.000 2/26/2020 EUR 71.860
Goldman Sachs & Co Wertpa17.000 2/26/2020 EUR 69.630
Goldman Sachs & Co Wertpa24.000 2/26/2020 EUR 67.840
Goldman Sachs & Co Wertpa15.000 3/25/2020 EUR 73.030
Goldman Sachs & Co Wertpa20.000 3/25/2020 EUR 67.090
Goldman Sachs & Co Wertpa22.000 3/25/2020 EUR 65.420
Goldman Sachs & Co Wertpa19.000 4/22/2020 EUR 72.800
Goldman Sachs & Co Wertpa21.000 4/22/2020 EUR 71.050
Goldman Sachs & Co Wertpa19.000 6/24/2020 EUR 72.250
Goldman Sachs & Co Wertpa15.000 2/26/2020 EUR 68.570
Goldman Sachs & Co Wertpa18.000 2/26/2020 EUR 65.620
Goldman Sachs & Co Wertpa24.000 2/26/2020 EUR 60.530
Goldman Sachs & Co Wertpa20.000 3/25/2020 EUR 64.450
Goldman Sachs & Co Wertpa22.000 3/25/2020 EUR 67.140
Goldman Sachs & Co Wertpa19.000 4/22/2020 EUR 71.250
Goldman Sachs & Co Wertpa21.000 4/22/2020 EUR 68.710
Goldman Sachs & Co Wertpa20.000 6/24/2020 EUR 69.380
Goldman Sachs & Co Wertpa17.000 9/23/2020 EUR 72.530
Goldman Sachs & Co Wertpa15.000 12/23/2020 EUR 74.950
Landesbank Baden-Wuerttem3.770 3/27/2020 EUR 73.260
Vontobel Financial Produc14.500 3/13/2020 EUR 73.510
Goldman Sachs & Co Wertpa22.000 3/25/2020 EUR 74.870
Landesbank Baden-Wuerttem7.500 10/23/2020 EUR 67.650
SG Issuer SA 0.800 10/21/2020 SEK 42.730
UniCredit Bank AG 8.500 3/27/2020 EUR 60.530
UniCredit Bank AG 13.300 6/26/2020 EUR 56.370
DZ Bank AG Deutsche Zentr6.000 7/22/2020 EUR 60.600
Landesbank Baden-Wuerttem4.000 10/23/2020 EUR 71.960
WEB Windenergie AG 2.750 12/17/2020 EUR 55.010
Landesbank Hessen-Thuerin4.000 1/6/2021 EUR 74.570
Landesbank Hessen-Thuerin2.250 7/13/2020 EUR 36.500
Landesbank Hessen-Thuerin4.100 7/13/2020 EUR 60.900
DZ Bank AG Deutsche Zentr6.100 3/23/2020 EUR 58.400
DZ Bank AG Deutsche Zentr9.250 9/21/2020 EUR 52.760
Landesbank Hessen-Thuerin4.000 8/9/2023 EUR 71.240
UniCredit Bank AG 10.500 6/26/2020 EUR 73.030
UniCredit Bank AG 11.000 12/28/2020 EUR 69.910
UniCredit Bank AG 8.800 12/28/2020 EUR 72.090
UniCredit Bank AG 8.500 12/28/2020 EUR 74.520
UniCredit Bank AG 12.700 12/28/2020 EUR 69.580
UniCredit Bank AG 14.400 12/28/2020 EUR 73.240
UniCredit Bank AG 10.100 6/26/2020 EUR 61.460
UniCredit Bank AG 8.000 6/26/2020 EUR 63.450
UniCredit Bank AG 14.700 6/26/2020 EUR 58.300
UniCredit Bank AG 13.500 6/26/2020 EUR 65.130
UniCredit Bank AG 13.800 6/26/2020 EUR 69.500
UniCredit Bank AG 9.800 12/28/2020 EUR 72.590
UniCredit Bank AG 7.500 12/24/2021 EUR 63.900
UniCredit Bank AG 5.400 6/25/2021 EUR 67.400
UniCredit Bank AG 13.800 3/27/2020 EUR 75.250
Landesbank Baden-Wuerttem7.000 9/25/2020 EUR 67.710
Goldman Sachs & Co Wertpa24.000 2/26/2020 EUR 72.310
Raiffeisen Centrobank AG 9.367 6/23/2020 EUR 65.140
UBS AG/London 15.200 3/26/2020 EUR 63.000
Raiffeisen Centrobank AG 10.995 6/23/2020 EUR 64.190
Vontobel Financial Produc16.000 6/12/2020 EUR 71.390
Vontobel Financial Produc17.000 3/13/2020 EUR 70.380
Landesbank Baden-Wuerttem4.500 9/25/2020 EUR 66.340
Landesbank Baden-Wuerttem6.000 9/25/2020 EUR 63.160
Landesbank Baden-Wuerttem5.000 9/25/2020 EUR 71.160
Vontobel Financial Produc9.250 4/3/2020 EUR 59.160
UBS AG/London 15.000 4/5/2021 USD 67.940
DekaBank Deutsche Girozen2.250 3/27/2020 EUR 74.760
Landesbank Hessen-Thuerin3.250 8/13/2020 EUR 75.200
Landesbank Hessen-Thuerin3.100 8/13/2020 EUR 58.100
UBS AG/London 4.500 6/25/2020 EUR 64.370
UBS AG/London 5.700 9/24/2020 EUR 74.860
UBS AG/London 10.400 3/26/2020 EUR 69.800
Landesbank Hessen-Thuerin3.250 7/13/2020 EUR 73.500
Landesbank Baden-Wuerttem7.100 3/26/2021 EUR 71.510
Landesbank Hessen-Thuerin5.750 7/12/2024 EUR 63.190
Vontobel Financial Produc3.500 6/12/2020 EUR 73.710
Vontobel Financial Produc6.000 3/13/2020 EUR 66.680
Vontobel Financial Produc16.500 3/13/2020 EUR 55.230
Vontobel Financial Produc5.500 6/12/2020 EUR 68.960
Vontobel Financial Produc9.000 3/13/2020 EUR 62.310
Vontobel Financial Produc12.500 3/13/2020 EUR 58.510
Vontobel Financial Produc8.000 6/12/2020 EUR 65.060
DZ Bank AG Deutsche Zentr13.750 3/25/2020 EUR 70.420
Landesbank Baden-Wuerttem5.000 3/27/2020 EUR 65.240
Societe Generale Effekten24.337 3/20/2020 EUR 61.970
Societe Generale Effekten4.660 3/20/2020 EUR 70.050
Vontobel Financial Produc11.000 9/25/2020 EUR 75.540
Societe Generale Effekten10.874 3/20/2020 EUR 67.750
BNP Paribas Emissions- un4.000 9/24/2020 EUR 69.110
BNP Paribas Emissions- un5.500 9/24/2020 EUR 67.740
Zurcher Kantonalbank Fina7.500 3/13/2020 EUR 73.680
Landesbank Baden-Wuerttem5.500 3/27/2020 EUR 68.230
BNP Paribas Emissions- un7.000 9/24/2020 EUR 66.480
BNP Paribas Emissions- un10.000 3/26/2020 EUR 60.700
Landesbank Baden-Wuerttem4.000 3/27/2020 EUR 72.400
Landesbank Baden-Wuerttem3.000 3/27/2020 EUR 71.110
UBS AG/London 7.400 12/28/2020 EUR 73.880
BNP Paribas Emissions- un3.500 9/24/2020 EUR 71.190
BNP Paribas Emissions- un4.500 9/24/2020 EUR 67.140
BNP Paribas Emissions- un6.500 9/24/2020 EUR 64.150
BNP Paribas Emissions- un7.500 9/24/2020 EUR 64.750
BNP Paribas Emissions- un18.000 3/26/2020 EUR 57.740
BNP Paribas Emissions- un4.000 3/26/2020 EUR 64.370
BNP Paribas Emissions- un8.000 3/26/2020 EUR 64.750
BNP Paribas Emissions- un3.000 6/25/2020 EUR 68.430
BNP Paribas Emissions- un4.500 6/25/2020 EUR 66.550
BNP Paribas Emissions- un15.000 9/24/2020 EUR 60.620
BNP Paribas Emissions- un7.000 12/24/2020 EUR 67.710
UBS AG/London 18.100 3/26/2020 EUR 70.550
BNP Paribas Emissions- un5.000 9/24/2020 EUR 69.700
BNP Paribas Emissions- un6.000 9/24/2020 EUR 65.890
BNP Paribas Emissions- un8.500 3/26/2020 EUR 62.610
BNP Paribas Emissions- un23.000 3/26/2020 EUR 54.920
BNP Paribas Emissions- un6.000 6/25/2020 EUR 64.810
BNP Paribas Emissions- un7.000 6/25/2020 EUR 65.160
BNP Paribas Emissions- un10.000 6/25/2020 EUR 62.100
BNP Paribas Emissions- un19.000 6/25/2020 EUR 58.380
BNP Paribas Emissions- un13.000 12/24/2020 EUR 62.480
BNP Paribas Emissions- un8.000 9/24/2020 EUR 63.130
BNP Paribas Emissions- un12.000 9/24/2020 EUR 61.980
BNP Paribas Emissions- un4.000 12/24/2020 EUR 69.380
BNP Paribas Emissions- un7.500 12/24/2020 EUR 66.180
BNP Paribas Emissions- un9.500 3/26/2020 EUR 62.700
BNP Paribas Emissions- un9.000 3/26/2020 EUR 60.600
BNP Paribas Emissions- un5.000 3/26/2020 EUR 64.470
BNP Paribas Emissions- un6.000 3/26/2020 EUR 64.560
BNP Paribas Emissions- un7.000 3/26/2020 EUR 64.660
BNP Paribas Emissions- un5.500 6/25/2020 EUR 66.890
BNP Paribas Emissions- un6.500 6/25/2020 EUR 67.240
BNP Paribas Emissions- un9.000 6/25/2020 EUR 61.750
BNP Paribas Emissions- un8.000 12/24/2020 EUR 64.750
BNP Paribas Emissions- un4.500 12/24/2020 EUR 67.650
UBS AG/London 10.700 3/26/2020 EUR 71.610
BNP Paribas Emissions- un21.000 3/26/2020 EUR 54.730
BNP Paribas Emissions- un5.000 6/25/2020 EUR 69.120
BNP Paribas Emissions- un7.500 6/25/2020 EUR 63.220
BNP Paribas Emissions- un8.500 6/25/2020 EUR 63.560
BNP Paribas Emissions- un9.000 12/24/2020 EUR 65.600
BNP Paribas Emissions- un10.000 12/24/2020 EUR 63.020
BNP Paribas Emissions- un9.000 9/24/2020 EUR 63.720
BNP Paribas Emissions- un3.500 12/24/2020 EUR 71.210
BNP Paribas Emissions- un6.000 12/24/2020 EUR 66.860
UBS AG/London 6.000 3/26/2020 EUR 75.250
Bank Julius Baer & Co Ltd7.000 3/6/2020 EUR 67.850
DZ Bank AG Deutsche Zentr4.750 12/21/2020 EUR 62.160
BNP Paribas Emissions- un8.500 9/24/2020 EUR 65.340
BNP Paribas Emissions- un14.000 3/26/2020 EUR 57.350
BNP Paribas Emissions- un16.000 3/26/2020 EUR 57.550
Commerzbank AG 8.750 7/24/2020 EUR 74.180
Commerzbank AG 11.000 3/27/2020 EUR 71.640
Commerzbank AG 9.000 3/27/2020 EUR 73.680
Commerzbank AG 10.750 7/24/2020 EUR 71.510
Commerzbank AG 12.750 7/24/2020 EUR 69.430
SG Issuer SA 6.650 10/10/2021 EUR 72.160
Landesbank Hessen-Thuerin4.000 10/14/2020 EUR 33.270
UBS AG/London 6.900 3/26/2020 EUR 75.350
BNP Paribas Emissions- un19.000 3/26/2020 EUR 54.530
UBS AG/London 3.000 3/26/2020 EUR 69.000
UBS AG/London 8.500 3/26/2020 EUR 72.440
UBS AG/London 6.200 3/26/2020 EUR 60.230
UBS AG/London 4.200 6/25/2020 EUR 68.910
UBS AG/London 12.600 6/25/2020 EUR 56.400
UBS AG/London 22.700 3/26/2020 EUR 47.240
BNP Paribas Emissions- un11.000 6/25/2020 EUR 64.430
BNP Paribas Emissions- un14.000 9/24/2020 EUR 63.170
BNP Paribas Emissions- un10.000 12/24/2020 EUR 66.440
Landesbank Baden-Wuerttem6.200 3/26/2021 EUR 72.560
BNP Paribas Emissions- un7.500 6/25/2020 EUR 67.580
BNP Paribas Emissions- un9.000 6/25/2020 EUR 65.850
BNP Paribas Emissions- un4.000 9/24/2020 EUR 73.980
BNP Paribas Emissions- un9.500 9/24/2020 EUR 65.940
BNP Paribas Emissions- un4.000 12/24/2020 EUR 73.970
BNP Paribas Emissions- un6.500 12/24/2020 EUR 69.340
BNP Paribas Emissions- un12.000 12/24/2020 EUR 64.710
DZ Bank AG Deutsche Zentr7.250 3/25/2020 EUR 69.180
BNP Paribas Emissions- un7.000 12/24/2020 EUR 72.070
BNP Paribas Emissions- un4.500 12/24/2020 EUR 72.060
BNP Paribas Emissions- un8.500 12/24/2020 EUR 71.000
BNP Paribas Emissions- un20.000 3/26/2020 EUR 57.930
BNP Paribas Emissions- un4.500 9/24/2020 EUR 71.790
BNP Paribas Emissions- un6.500 9/24/2020 EUR 68.330
BNP Paribas Emissions- un8.000 12/24/2020 EUR 68.560
HSBC Trinkaus & Burkhardt2.250 4/22/2020 EUR 66.250
Vontobel Financial Produc17.000 6/26/2020 EUR 72.940
Vontobel Financial Produc18.500 3/27/2020 EUR 72.570
Vontobel Financial Produc14.500 3/27/2020 EUR 59.860
DZ Bank AG Deutsche Zentr8.000 6/24/2020 EUR 67.250
Landesbank Baden-Wuerttem5.280 8/28/2020 EUR 64.430
Landesbank Hessen-Thuerin4.000 9/20/2023 EUR 70.070
Vontobel Financial Produc5.500 3/20/2020 EUR 64.830
Raiffeisen Switzerland BV9.500 3/11/2020 EUR 61.980
DZ Bank AG Deutsche Zentr10.000 3/25/2020 EUR 61.620
Bank Julius Baer & Co Ltd15.300 3/23/2020 USD 51.400
HSBC Trinkaus & Burkhardt3.000 8/10/2020 EUR 68.580
HSBC Trinkaus & Burkhardt6.000 2/28/2020 EUR 72.460
HSBC Trinkaus & Burkhardt2.250 4/22/2020 EUR 66.250
HSBC Trinkaus & Burkhardt1.000 4/22/2020 EUR 71.760
Deutsche Bank AG 3.200 6/23/2020 EUR 73.680
Deutsche Bank AG 3.200 12/22/2020 EUR 74.590
DZ Bank AG Deutsche Zentr11.750 3/25/2020 EUR 70.580
DZ Bank AG Deutsche Zentr8.750 3/25/2020 EUR 69.810
Deutsche Bank AG 8.200 12/22/2020 EUR 65.000
Societe Generale Effekten6.762 6/26/2020 EUR 70.900
Deutsche Bank AG 8.200 12/22/2020 EUR 60.500
HSBC Trinkaus & Burkhardt1.250 4/22/2020 EUR 74.800
HSBC Trinkaus & Burkhardt5.100 3/27/2020 EUR 66.690
HSBC Trinkaus & Burkhardt7.700 9/25/2020 EUR 60.380
HSBC Trinkaus & Burkhardt5.000 9/25/2020 EUR 72.240
Leonteq Securities AG/Gue7.500 3/11/2021 CHF 70.150
Societe Generale Effekten14.240 3/20/2020 EUR 72.720
Vontobel Financial Produc21.500 6/26/2020 EUR 74.590
Societe Generale Effekten10.601 6/19/2020 EUR 63.950
Vontobel Financial Produc4.500 9/25/2020 EUR 50.640
Societe Generale Effekten8.803 3/20/2020 EUR 71.100
Societe Generale Effekten10.601 6/19/2020 EUR 71.850
Societe Generale Effekten11.564 6/19/2020 EUR 70.580
Societe Generale Effekten13.204 3/20/2020 EUR 52.030
Societe Generale Effekten12.849 6/19/2020 EUR 59.030
Societe Generale Effekten10.740 9/18/2020 EUR 65.240
Societe Generale Effekten25.890 3/20/2020 EUR 43.690
Societe Generale Effekten9.316 6/19/2020 EUR 62.110
Societe Generale Effekten28.268 6/19/2020 EUR 69.230
Vontobel Financial Produc8.500 3/27/2020 EUR 73.020
Societe Generale Effekten15.793 3/20/2020 EUR 61.430
DZ Bank AG Deutsche Zentr8.250 3/25/2020 EUR 66.790
Landesbank Baden-Wuerttem4.750 3/27/2020 EUR 69.450
Deutsche Bank AG 8.200 6/23/2020 EUR 61.500
Societe Generale Effekten9.392 6/26/2020 EUR 63.120
Societe Generale Effekten11.270 6/26/2020 EUR 64.000
Societe Generale Effekten5.000 9/25/2020 EUR 70.550
Societe Generale Effekten6.000 9/25/2020 EUR 71.150
Societe Generale Effekten8.000 9/25/2020 EUR 72.360
Societe Generale Effekten12.500 9/25/2020 EUR 66.220
Societe Generale Effekten6.288 12/28/2020 EUR 71.560
Societe Generale Effekten8.803 12/28/2020 EUR 73.280
Societe Generale Effekten12.575 12/28/2020 EUR 67.180
Societe Generale Effekten15.719 12/28/2020 EUR 69.340
Societe Generale Effekten18.863 12/28/2020 EUR 64.640
Societe Generale Effekten10.492 6/25/2021 EUR 73.080
Societe Generale Effekten12.240 6/25/2021 EUR 74.430
Deutsche Bank AG 8.200 9/22/2020 EUR 64.200
HSBC Trinkaus & Burkhardt5.600 6/26/2020 EUR 65.850
HSBC Trinkaus & Burkhardt6.300 6/26/2020 EUR 72.290
Leonteq Securities AG 7.400 3/2/2020 CHF 19.920
DekaBank Deutsche Girozen3.150 3/5/2021 EUR 60.780
Landesbank Baden-Wuerttem5.000 3/27/2020 EUR 75.310
Societe Generale Effekten19.677 3/20/2020 EUR 73.280
Societe Generale Effekten11.564 6/19/2020 EUR 60.200
Societe Generale Effekten8.026 3/20/2020 EUR 72.660
Societe Generale Effekten8.995 6/19/2020 EUR 74.730
Societe Generale Effekten18.632 6/19/2020 EUR 63.280
Societe Generale Effekten10.097 3/20/2020 EUR 56.760
Societe Generale Effekten14.499 3/20/2020 EUR 51.790
Societe Generale Effekten20.195 3/20/2020 EUR 47.290
Societe Generale Effekten7.067 6/19/2020 EUR 65.730
Societe Generale Effekten14.134 6/19/2020 EUR 56.460
Societe Generale Effekten25.377 6/19/2020 EUR 71.850
Societe Generale Effekten7.767 3/20/2020 EUR 72.990
Societe Generale Effekten22.007 3/20/2020 EUR 72.870
Societe Generale Effekten25.373 3/20/2020 EUR 69.030
Vontobel Financial Produc11.000 3/27/2020 EUR 63.090
Societe Generale Effekten5.260 6/26/2020 EUR 70.190
Societe Generale Effekten7.000 9/25/2020 EUR 71.760
Societe Generale Effekten9.000 9/25/2020 EUR 72.960
Societe Generale Effekten15.000 9/25/2020 EUR 67.720
Societe Generale Effekten7.545 12/28/2020 EUR 72.420
Societe Generale Effekten10.060 12/28/2020 EUR 73.710
Societe Generale Effekten7.514 6/26/2020 EUR 71.250
Leonteq Securities AG/Gue11.000 3/2/2020 CHF 40.490
UniCredit Bank AG 4.500 3/12/2022 EUR 71.330
UBS AG/London 7.500 2/21/2020 EUR 39.750
UBS AG/London 8.500 8/21/2020 EUR 46.850
EFG International Finance6.400 3/8/2021 EUR 56.010
Societe Generale Effekten6.011 6/26/2020 EUR 70.550
UBS AG/London 10.000 3/22/2021 EUR 71.450
HSBC Trinkaus & Burkhardt5.700 9/25/2020 EUR 64.880
HSBC Trinkaus & Burkhardt8.600 3/27/2020 EUR 66.980
HSBC Trinkaus & Burkhardt6.100 12/28/2020 EUR 69.290
HSBC Trinkaus & Burkhardt4.100 12/28/2020 EUR 74.370
HSBC Trinkaus & Burkhardt7.000 7/24/2020 EUR 68.090
HSBC Trinkaus & Burkhardt4.300 7/24/2020 EUR 74.450
HSBC Trinkaus & Burkhardt10.600 3/27/2020 EUR 66.180
Vontobel Financial Produc11.000 3/27/2020 EUR 45.390
Landesbank Baden-Wuerttem7.000 3/27/2020 EUR 60.230
Societe Generale Effekten22.525 3/20/2020 EUR 63.640
Societe Generale Effekten23.301 3/20/2020 EUR 62.780
Societe Generale Effekten24.337 3/20/2020 EUR 72.440
Societe Generale Effekten18.123 3/20/2020 EUR 74.940
Societe Generale Effekten16.052 3/20/2020 EUR 62.180
Societe Generale Effekten9.637 6/19/2020 EUR 73.210
Societe Generale Effekten12.528 6/19/2020 EUR 69.340
Societe Generale Effekten7.249 3/20/2020 EUR 62.630
Societe Generale Effekten9.637 6/19/2020 EUR 64.180
Societe Generale Effekten14.192 9/18/2020 EUR 60.770
Societe Generale Effekten6.990 3/20/2020 EUR 61.110
Societe Generale Effekten11.910 3/20/2020 EUR 54.500
Societe Generale Effekten22.486 6/19/2020 EUR 50.860
Societe Generale Effekten9.321 3/20/2020 EUR 70.260
Societe Generale Effekten12.168 6/19/2020 EUR 74.990
Volga Sport ZAO 7.880 4/4/2022 RUB 100.00
Polski Bank Spoldzielczy 4.790 11/26/2024 PLN 50.000
Societe Generale Effekten8.262 3/20/2020 EUR 68.230
Societe Generale Effekten17.902 3/20/2020 EUR 52.540
Societe Generale Effekten6.473 6/19/2020 EUR 70.810
Societe Generale Effekten23.301 6/19/2020 EUR 54.860
Societe Generale Effekten10.279 9/18/2020 EUR 68.520
Societe Generale Effekten12.849 9/18/2020 EUR 65.520
Societe Generale Effekten15.419 9/18/2020 EUR 63.030
Societe Generale Effekten18.310 9/18/2020 EUR 61.110
Societe Generale Effekten26.984 9/18/2020 EUR 57.290
Societe Generale Effekten13.981 6/19/2020 EUR 72.790
Societe Generale Effekten15.793 6/19/2020 EUR 70.800
Deutsche Bank AG 5.400 3/24/2020 EUR 72.930
Deutsche Bank AG 5.400 2/25/2020 EUR 72.480
Societe Generale Effekten13.447 3/20/2020 EUR 59.610
Leonteq Securities AG/Gue9.600 8/4/2020 CHF 58.350
Societe Generale Effekten12.046 3/20/2020 EUR 69.750
Societe Generale Effekten8.684 3/20/2020 EUR 43.920
Societe Generale Effekten14.041 6/19/2020 EUR 43.540
Societe Generale Effekten5.042 3/20/2020 EUR 70.090
Societe Generale Effekten11.766 3/20/2020 EUR 57.700
Societe Generale Effekten19.610 3/20/2020 EUR 71.180
Societe Generale Effekten25.212 3/20/2020 EUR 64.730
Societe Generale Effekten7.564 3/20/2020 EUR 76.040
Raiffeisen Schweiz Genoss5.750 9/2/2020 CHF 42.390
Raiffeisen Schweiz Genoss7.000 3/2/2020 CHF 73.300
Raiffeisen Schweiz Genoss6.200 3/2/2020 CHF 63.860
Deutsche Bank AG 3.200 9/22/2020 EUR 74.190
BNP Paribas Emissions- un7.500 3/26/2020 EUR 62.510
BNP Paribas Emissions- un4.000 6/25/2020 EUR 68.770
BNP Paribas Emissions- un9.500 6/25/2020 EUR 63.910
BNP Paribas Emissions- un14.000 6/25/2020 EUR 59.860
BNP Paribas Emissions- un17.000 6/25/2020 EUR 57.690
BNP Paribas Emissions- un5.000 12/24/2020 EUR 70.230
BNP Paribas Emissions- un5.500 12/24/2020 EUR 68.500
BNP Paribas Emissions- un6.500 12/24/2020 EUR 65.340
Leonteq Securities AG/Gue3.750 2/20/2023 CHF 54.840
Landesbank Baden-Wuerttem3.000 4/25/2022 EUR 75.610
Landesbank Hessen-Thuerin3.500 9/22/2020 EUR 64.200
Landesbank Baden-Wuerttem2.810 3/24/2023 EUR 73.690
DekaBank Deutsche Girozen5.000 9/14/2020 EUR 64.770
DekaBank Deutsche Girozen7.000 9/14/2020 EUR 60.160
DekaBank Deutsche Girozen3.500 3/14/2022 EUR 72.340
Landesbank Hessen-Thuerin7.000 4/29/2022 EUR 45.540
Vontobel Financial Produc7.500 3/27/2020 EUR 59.100
Landesbank Baden-Wuerttem2.300 2/25/2022 EUR 75.130
Landesbank Baden-Wuerttem2.400 2/25/2022 EUR 72.520
UBS AG/London 11.000 4/17/2020 CHF 40.250
Landesbank Hessen-Thuerin3.000 9/9/2020 EUR 71.300
Landesbank Hessen-Thuerin7.770 7/15/2021 EUR 22.950
DekaBank Deutsche Girozen2.250 1/22/2021 EUR 61.280
DekaBank Deutsche Girozen2.550 11/13/2020 EUR 71.230
EFG International Finance12.000 10/19/2021 USD 74.620
Landesbank Baden-Wuerttem2.600 9/25/2020 EUR 55.240
UBS AG/London 7.000 6/29/2020 CHF 73.750
Leonteq Securities AG/Gue9.000 1/12/2021 USD 39.440
Landesbank Baden-Wuerttem3.000 2/28/2020 EUR 56.760
Landesbank Baden-Wuerttem4.000 2/28/2020 EUR 54.150
Credit Suisse AG/Nassau 7.000 4/17/2020 USD 72.070
DekaBank Deutsche Girozen2.100 1/5/2021 EUR 61.670
Vontobel Financial Produc14.500 3/27/2020 EUR 73.910
UniCredit Bank AG 3.500 1/5/2021 EUR 38.350
UniCredit Bank AG 3.500 1/5/2021 EUR 72.560
Bank Julius Baer & Co Ltd8.150 5/26/2020 EUR 52.250
Landesbank Hessen-Thuerin4.350 2/24/2023 EUR 36.230
Landesbank Baden-Wuerttem3.200 2/26/2021 EUR 63.820
Vontobel Financial Produc9.000 3/27/2020 EUR 61.520
DekaBank Deutsche Girozen5.000 7/31/2020 EUR 41.690
Vontobel Financial Produc18.000 6/26/2020 EUR 70.250
UniCredit Bank AG 4.500 1/18/2022 EUR 68.670
HSBC Trinkaus & Burkhardt9.100 2/28/2020 EUR 36.970
HSBC Trinkaus & Burkhardt9.800 6/26/2020 EUR 70.060
UniCredit Bank AG 4.450 10/30/2020 EUR 69.870
HSBC Trinkaus & Burkhardt13.100 3/27/2020 EUR 33.580
HSBC Trinkaus & Burkhardt12.600 6/26/2020 EUR 36.120
UniCredit Bank AG 3.450 4/30/2020 EUR 70.950
Citigroup Global Markets 12.379 11/13/2023 SEK 60.610
Landesbank Baden-Wuerttem3.000 2/26/2021 EUR 69.000
Landesbank Baden-Wuerttem3.800 2/26/2021 EUR 58.560
Landesbank Hessen-Thuerin3.000 7/29/2020 EUR 69.200
DekaBank Deutsche Girozen6.050 7/31/2020 EUR 53.280
UBS AG/London 11.090 4/8/2020 USD 5.406
Landesbank Baden-Wuerttem4.350 7/24/2020 EUR 46.190
UniCredit Bank AG 3.500 2/13/2023 EUR 70.460
HSBC Trinkaus & Burkhardt7.900 3/27/2020 EUR 38.580
UBS AG/London 8.500 6/22/2020 EUR 42.550
Raiffeisen Schweiz Genoss6.400 4/8/2020 CHF 66.190
HSBC Trinkaus & Burkhardt8.200 3/27/2020 EUR 73.450
United Confectioners Fina8.000 4/3/2023 RUB 100.23
Business-Consulting OAO 8.500 3/26/2020 RUB 100.00
Vontobel Financial Produc10.500 3/27/2020 EUR 73.120
Vontobel Financial Produc9.500 2/28/2020 EUR 64.770
Vontobel Financial Produc13.000 2/28/2020 EUR 68.240
Deutsche Bank AG 7.400 3/24/2020 EUR 69.870
Societe Generale Effekten10.365 3/20/2020 EUR 63.480
Leonteq Securities AG/Gue13.000 8/4/2020 CHF 32.870
Societe Generale Effekten9.245 3/20/2020 EUR 74.400
Societe Generale Effekten14.287 3/20/2020 EUR 67.040
Societe Generale Effekten10.925 3/20/2020 EUR 41.070
Societe Generale Effekten11.986 6/19/2020 EUR 46.040
Societe Generale Effekten7.003 3/20/2020 EUR 65.330
Societe Generale Effekten19.890 3/20/2020 EUR 49.490
Societe Generale Effekten22.411 3/20/2020 EUR 67.770
Societe Generale Effekten9.247 6/19/2020 EUR 76.300
Vontobel Financial Produc5.000 3/20/2020 EUR 69.940
UniCredit Bank AG 3.750 1/18/2022 EUR 74.030
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 7.250 7/8/2014 EUR 2.571
Lehman Brothers Treasury 14.100 11/12/2008 USD 2.571
Lehman Brothers Treasury 16.800 8/21/2009 USD 2.571
Lehman Brothers Treasury 13.432 1/8/2009 ILS 2.571
Lehman Brothers Treasury 3.100 6/4/2010 USD 2.571
Lehman Brothers Treasury 11.000 7/4/2011 USD 2.571
Lehman Brothers Treasury 10.000 6/17/2009 USD 2.571
Lehman Brothers Treasury 16.000 12/26/2008 USD 2.571
Lehman Brothers Treasury 12.000 7/4/2011 EUR 2.571
Lehman Brothers Treasury 0.500 6/2/2020 EUR 2.571
Lehman Brothers Treasury 7.600 5/21/2013 USD 2.571
Lehman Brothers Treasury 6.000 3/4/2015 USD 2.571
Lehman Brothers Treasury 11.000 7/4/2011 CHF 2.571
Lehman Brothers Treasury 7.750 1/3/2012 AUD 2.571
Lehman Brothers Treasury 0.500 8/1/2020 EUR 2.571
Lehman Brothers Treasury 6.000 8/7/2013 EUR 2.571
Lehman Brothers Treasury 4.000 4/24/2009 USD 2.571
Lehman Brothers Treasury 10.500 8/9/2010 EUR 2.571
Lehman Brothers Treasury 7.000 11/28/2008 CHF 2.571
Lehman Brothers Treasury 3.850 4/24/2009 USD 2.571
Lehman Brothers Treasury 7.585 11/22/2009 MXN 3.750
Lehman Brothers Treasury 8.280 3/26/2009 USD 2.571
Lehman Brothers Treasury 11.000 12/19/2011 USD 2.571
Lehman Brothers Treasury 4.000 10/12/2010 USD 2.571
Lehman Brothers Treasury 8.000 10/23/2008 USD 2.571
Lehman Brothers Treasury 3.400 9/21/2009 HKD 2.571
Lehman Brothers Treasury 13.000 7/25/2012 EUR 2.571
Lehman Brothers Treasury 1.500 10/12/2010 EUR 2.571
Lehman Brothers Treasury 7.000 10/22/2010 EUR 2.571
Lehman Brothers Treasury 5.250 11/21/2009 USD 2.571
SG Issuer SA 2.700 11/28/2034 ZAR 41.019
Lehman Brothers Treasury 2.500 8/23/2012 GBP 2.571
Lehman Brothers Treasury 3.000 8/13/2011 EUR 2.571
Lehman Brothers Treasury 18.250 10/2/2008 USD 2.571
AKB Peresvet ZAO 0.510 6/23/2021 RUB 17.700
Lehman Brothers Treasury 6.000 5/23/2018 CZK 2.571
Lehman Brothers Treasury 3.350 10/13/2016 EUR 2.571
Investtorgstroi OOO 11.000 1/19/2023 RUB 100.00
Lehman Brothers Treasury 5.100 5/8/2017 HKD 3.400
Lehman Brothers Treasury 6.750 4/5/2012 EUR 2.571
Lehman Brothers Treasury 1.680 3/5/2015 EUR 2.571
Lehman Brothers Treasury 4.100 6/10/2014 SGD 3.750
Lehman Brothers Treasury 4.000 5/30/2010 USD 2.571
Lehman Brothers Treasury 4.000 5/17/2010 USD 2.571
Lehman Brothers Treasury 2.480 5/12/2009 USD 2.571
Lehman Brothers Treasury 2.250 5/12/2009 USD 2.571
Lehman Brothers Treasury 4.500 3/6/2013 CHF 2.571
LBI ehf 6.100 8/25/2011 USD 7.375
Lehman Brothers Treasury 5.500 6/15/2009 CHF 2.571
Lehman Brothers Treasury 11.000 6/29/2009 EUR 2.571
Lehman Brothers Treasury 8.000 8/3/2009 USD 2.571
Lehman Brothers Treasury 2.000 10/28/2010 EUR 2.571
Heta Asset Resolution AG 4.350 12/31/2023 EUR 1.748
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
Lehman Brothers Treasury 2.500 12/15/2011 GBP 2.571
Lehman Brothers Treasury 4.000 11/24/2016 EUR 2.571
Lehman Brothers Treasury 9.000 6/13/2009 USD 2.571
Lehman Brothers Treasury 7.375 9/20/2008 EUR 2.571
Kaupthing ehf 6.125 10/4/2016 USD 0.250
Lehman Brothers Treasury 9.000 3/17/2009 GBP 2.571
Lehman Brothers Treasury 3.860 9/21/2011 SGD 3.750
Lehman Brothers Treasury 0.250 7/21/2014 EUR 2.571
Samaratransneft-Terminal 17.000 6/20/2021 RUB 10.200
BNP Paribas SA 0.500 11/16/2032 MXN 35.855
Lehman Brothers Treasury 6.000 10/24/2008 EUR 2.571
Lehman Brothers Treasury 4.000 4/13/2011 CHF 2.571
Lehman Brothers Treasury 8.000 5/22/2009 USD 2.571
Lehman Brothers Treasury 7.500 10/24/2008 USD 2.571
Lehman Brothers Treasury 7.000 4/14/2009 EUR 2.571
Lehman Brothers Treasury 5.750 6/15/2009 CHF 2.571
Lehman Brothers Treasury 5.000 10/24/2008 CHF 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 1.460 2/19/2012 JPY 3.750
Deutsche Bank AG/London 0.500 4/5/2038 MXN 20.827
Lehman Brothers Treasury 11.250 12/31/2008 USD 2.571
KPNQwest NV 8.875 2/1/2008 EUR 0.634
Lehman Brothers Treasury 8.050 12/20/2010 HKD 2.571
Lehman Brothers Treasury 13.000 12/14/2012 USD 2.571
Kaupthing ehf 9.750 9/10/2015 USD 0.250
Lehman Brothers Treasury 3.000 9/12/2036 JPY 3.750
Lehman Brothers Treasury 6.700 4/21/2011 USD 2.571
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 AUD 2.571
Lehman Brothers Treasury 0.500 12/20/2017 USD 2.571
Lehman Brothers Treasury 9.300 12/21/2010 EUR 2.571
Lehman Brothers Treasury 4.000 3/10/2011 EUR 2.571
Lehman Brothers Treasury 8.000 3/21/2018 USD 2.571
Lehman Brothers Treasury 5.375 2/4/2014 USD 2.571
Lehman Brothers Treasury 11.000 2/16/2009 CHF 2.571
Lehman Brothers Treasury 10.000 2/16/2009 CHF 2.571
Lehman Brothers Treasury 7.000 2/15/2010 CHF 2.571
Lehman Brothers Treasury 6.300 12/21/2018 USD 2.571
Societe Generale SA 0.500 4/4/2024 MXN 74.504
Lehman Brothers Treasury 11.000 12/20/2017 AUD 2.571
Lehman Brothers Treasury 6.000 3/17/2011 EUR 2.571
Lehman Brothers Treasury 4.500 12/30/2010 USD 2.571
Lehman Brothers Treasury 6.000 12/6/2016 USD 2.571
Lehman Brothers Treasury 4.150 8/25/2020 EUR 2.571
Lehman Brothers Treasury 8.000 4/20/2009 EUR 2.571
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 8.280 7/31/2013 GBP 2.571
Lehman Brothers Treasury 3.820 10/20/2009 USD 2.571
Lehman Brothers Treasury 4.100 5/20/2009 USD 2.571
Lehman Brothers Treasury 2.000 6/21/2011 EUR 2.571
Kaupthing ehf 6.500 10/8/2010 ISK 0.250
OOO SPV Structural Invest0.010 9/1/2023 RUB 66.740
Lehman Brothers Treasury 3.700 6/6/2009 EUR 2.571
Lehman Brothers Treasury 1.280 11/6/2010 JPY 3.750
Lehman Brothers Treasury 4.500 8/2/2009 USD 2.571
Lehman Brothers Treasury 4.000 12/2/2012 EUR 2.571
Lehman Brothers Treasury 4.350 8/8/2016 SGD 3.750
Otkritie Holding JSC 10.770 9/17/2027 RUB 0.010
Lehman Brothers Treasury 8.500 7/6/2009 CHF 2.571
AKB Peresvet ZAO 13.000 10/7/2017 RUB 18.000
Lehman Brothers Treasury 7.500 9/13/2009 CHF 2.571
Lehman Brothers Treasury 4.200 12/3/2008 HKD 3.400
Lehman Brothers Treasury 3.600 3/19/2018 JPY 2.571
Hellas Telecommunications8.500 10/15/2013 EUR 0.444
Lehman Brothers Treasury 2.000 5/17/2010 EUR 2.571
Lehman Brothers Treasury 6.000 6/21/2011 EUR 2.571
Lehman Brothers Treasury 4.000 2/28/2010 EUR 2.571
Lehman Brothers Treasury 0.500 2/16/2009 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
Lehman Brothers Treasury 7.000 7/11/2010 EUR 2.571
Lehman Brothers Treasury 3.000 8/8/2017 EUR 2.571
DZ Bank AG Deutsche Zentr5.000 9/21/2020 EUR 57.140
Landesbank Hessen-Thuerin3.300 6/15/2020 EUR 73.800
DZ Bank AG Deutsche Zentr6.250 9/21/2020 EUR 57.870
DZ Bank AG Deutsche Zentr7.800 9/21/2020 EUR 59.410
EFG International Finance7.400 1/25/2021 CHF 65.540
DekaBank Deutsche Girozen2.000 1/22/2021 EUR 67.900
DekaBank Deutsche Girozen2.000 1/22/2021 EUR 62.890
EFG International Finance7.600 1/11/2021 CHF 65.810
EFG International Finance7.200 1/25/2021 EUR 50.430
UniCredit Bank AG 4.200 2/12/2021 EUR 70.130
UniCredit Bank AG 5.900 2/12/2021 EUR 46.180
Landesbank Hessen-Thuerin3.000 6/15/2020 EUR 70.700
Leonteq Securities AG/Gue8.000 7/22/2020 CHF 62.980
Landesbank Baden-Wuerttem2.000 2/28/2020 EUR 63.050
UBS AG/London 5.750 7/6/2020 EUR 67.450
Landesbank Baden-Wuerttem5.000 2/28/2020 EUR 49.470
UniCredit Bank AG 3.500 1/5/2021 EUR 63.160
Landesbank Baden-Wuerttem2.650 9/25/2020 EUR 73.330
Landesbank Hessen-Thuerin3.800 9/9/2020 EUR 64.300
DekaBank Deutsche Girozen4.550 7/31/2020 EUR 58.730
Landesbank Hessen-Thuerin4.000 2/17/2021 EUR 35.790
Leonteq Securities AG/Gue4.000 12/29/2020 CHF 38.290
DZ Bank AG Deutsche Zentr8.500 6/24/2020 EUR 52.130
UniCredit Bank AG 4.550 2/12/2021 EUR 73.870
UBS AG/London 4.000 7/6/2021 EUR 70.270
Landesbank Baden-Wuerttem3.100 3/26/2021 EUR 68.950
Landesbank Baden-Wuerttem3.000 3/26/2021 EUR 63.130
Corner Banca SA 7.400 7/22/2020 CHF 67.290
Bank Otkritie Financial C1.000 11/11/2023 RUB 65.000
DZ Bank AG Deutsche Zentr5.500 8/26/2020 EUR 68.270
Vontobel Financial Produc7.500 9/25/2020 EUR 72.350
Leonteq Securities AG/Gue5.600 8/24/2021 CHF 59.650
Societe Generale Effekten13.074 3/20/2020 EUR 70.060
Societe Generale Effekten19.949 3/20/2020 EUR 70.030
EFG International Finance8.000 4/21/2020 USD 48.160
Societe Generale Effekten3.750 5/24/2021 EUR 40.650
Landesbank Baden-Wuerttem4.150 6/25/2021 EUR 74.340
Landesbank Hessen-Thuerin3.150 5/11/2022 EUR 65.080
Leonteq Securities AG/Gue5.200 7/28/2020 CHF 71.610
DekaBank Deutsche Girozen2.100 1/4/2021 EUR 61.670
Raiffeisen Centrobank AG 5.333 3/5/2020 EUR 67.620
UniCredit Bank AG 4.200 1/4/2021 EUR 44.510
Leonteq Securities AG/Gue5.000 8/17/2020 CHF 59.250
Leonteq Securities AG 6.000 8/17/2021 CHF 74.060
UniCredit Bank AG 3.750 8/23/2021 EUR 72.670
UBS AG/London 6.500 8/10/2020 CHF 59.300
UBS AG/London 10.000 8/10/2020 CHF 64.750
UBS AG/London 6.500 2/8/2021 EUR 63.250
Raiffeisen Schweiz Genoss5.300 8/17/2020 CHF 58.730
Landesbank Hessen-Thuerin6.000 12/1/2022 EUR 47.900
Credit Suisse AG/London 9.500 2/24/2020 USD 65.290
Landesbank Hessen-Thuerin5.200 9/8/2022 EUR 63.420
EFG International Finance9.200 8/27/2020 USD 74.540
EFG International Finance7.100 8/14/2020 EUR 59.270
Landesbank Hessen-Thuerin4.000 9/14/2022 EUR 72.540
WEB Windenergie AG 2.250 9/25/2028 EUR 55.010
WEB Windenergie AG 4.500 EUR 55.010
Landesbank Baden-Wuerttem5.500 2/28/2020 EUR 56.920
DekaBank Deutsche Girozen2.400 8/21/2020 EUR 49.360
Landesbank Baden-Wuerttem3.750 12/29/2020 EUR 67.440
Leonteq Securities AG/Gue6.200 2/10/2021 CHF 61.000
DekaBank Deutsche Girozen6.300 7/3/2020 EUR 50.570
UBS AG/London 6.000 8/3/2020 CHF 30.600
DekaBank Deutsche Girozen3.000 12/29/2022 EUR 68.740
DekaBank Deutsche Girozen2.900 1/4/2021 EUR 64.240
Landesbank Baden-Wuerttem5.200 3/27/2020 EUR 58.800
EFG International Finance6.600 8/3/2020 EUR 73.040
EFG International Finance6.000 8/13/2021 CHF 61.680
Zurcher Kantonalbank Fina5.000 12/14/2020 EUR 68.400
Landesbank Baden-Wuerttem4.450 8/28/2020 EUR 73.390
DekaBank Deutsche Girozen2.300 1/8/2021 EUR 74.710
UBS AG/London 3.800 3/26/2020 EUR 59.160
Leonteq Securities AG/Gue10.600 2/17/2020 CHF 58.610
Leonteq Securities AG 5.000 2/17/2021 CHF 49.200
DekaBank Deutsche Girozen3.800 12/18/2020 EUR 52.580
Landesbank Hessen-Thuerin4.000 8/18/2021 EUR 37.960
Landesbank Baden-Wuerttem2.500 2/28/2020 EUR 66.800
Landesbank Hessen-Thuerin6.100 12/4/2023 EUR 46.660
Landesbank Baden-Wuerttem3.200 12/29/2020 EUR 69.450
UniCredit Bank AG 3.800 12/29/2022 EUR 51.950
DekaBank Deutsche Girozen5.150 7/3/2020 EUR 61.970
Leonteq Securities AG/Gue10.600 12/8/2020 EUR 58.880
Landesbank Hessen-Thuerin3.500 1/5/2022 EUR 54.210
Landesbank Hessen-Thuerin4.000 1/5/2022 EUR 59.340
UBS AG/London 10.000 8/3/2020 CHF 65.900
Societe Generale SA 8.000 12/3/2020 USD
Landesbank Baden-Wuerttem4.750 3/27/2020 EUR 66.150
EFG International Finance6.000 8/3/2020 USD 54.210
Raiffeisen Schweiz Genoss5.200 8/10/2020 CHF 57.850
UniCredit Bank AG 3.600 8/23/2021 EUR 54.060
DekaBank Deutsche Girozen3.000 2/21/2020 EUR 74.620
Commerzbank AG 4.500 2/21/2020 EUR 72.710
DekaBank Deutsche Girozen4.400 2/21/2020 EUR 72.550
DekaBank Deutsche Girozen2.050 2/21/2020 EUR 72.400
BNP Paribas Emissions- un13.000 3/26/2020 EUR 73.080
HSBC Trinkaus & Burkhardt13.000 6/26/2020 EUR 38.230
Vontobel Financial Produc16.500 6/26/2020 EUR 73.030
Vontobel Financial Produc17.500 9/25/2020 EUR 72.790
UBS AG/London 17.900 9/24/2020 EUR 69.480
UBS AG/London 14.400 9/24/2020 EUR 71.250
UBS AG/London 21.600 9/24/2020 EUR 68.260
Raiffeisen Schweiz Genoss5.000 4/3/2020 CHF 30.080
Societe Generale Effekten14.539 3/20/2020 EUR 69.050
Landesbank Hessen-Thuerin3.100 11/9/2020 EUR 73.000
Societe Generale Effekten22.316 3/20/2020 EUR 68.380
Societe Generale Effekten23.781 6/19/2020 EUR 74.310
Landesbank Hessen-Thuerin3.600 11/9/2020 EUR 67.100
Landesbank Baden-Wuerttem3.700 6/26/2020 EUR 73.270
Leonteq Securities AG 7.400 4/24/2020 USD 46.950
DekaBank Deutsche Girozen2.900 5/15/2020 EUR 62.370
DekaBank Deutsche Girozen2.100 5/15/2020 EUR 49.350
BNP Paribas Emissions- un11.000 6/25/2020 EUR 69.470
BNP Paribas Emissions- un15.000 3/26/2020 EUR 57.150
BNP Paribas Emissions- un6.500 3/26/2020 EUR 62.510
BNP Paribas Emissions- un9.000 3/26/2020 EUR 56.970
BNP Paribas Emissions- un15.000 3/26/2020 EUR 48.710
BNP Paribas Emissions- un9.000 6/25/2020 EUR 58.240
UniCredit Bank AG 6.100 8/12/2020 EUR 58.540
DZ Bank AG Deutsche Zentr6.250 2/26/2020 EUR 68.830
DZ Bank AG Deutsche Zentr11.500 2/26/2020 EUR 66.410
DZ Bank AG Deutsche Zentr6.500 2/26/2020 EUR 66.770
DZ Bank AG Deutsche Zentr7.800 3/23/2020 EUR 66.800
Vontobel Financial Produc12.000 3/13/2020 EUR 66.930
Vontobel Financial Produc13.000 3/27/2020 EUR 71.300
HSBC Trinkaus & Burkhardt7.200 9/25/2020 EUR 62.780
DekaBank Deutsche Girozen3.000 6/17/2020 EUR 72.100
Vontobel Financial Produc9.000 3/13/2020 EUR 56.460
Landesbank Baden-Wuerttem2.800 12/23/2022 EUR 70.120
DZ Bank AG Deutsche Zentr11.000 6/24/2020 EUR 50.360
Vontobel Financial Produc7.000 3/13/2020 EUR 56.400
HSBC Trinkaus & Burkhardt8.400 6/26/2020 EUR 72.680
UBS AG/London 12.000 4/13/2020 USD 45.400
UniCredit Bank AG 6.000 1/18/2021 EUR 44.040
DZ Bank AG Deutsche Zentr5.500 6/24/2020 EUR 54.610
UBS AG/London 8.500 6/15/2020 CHF 69.850
EFG International Finance7.200 12/29/2020 EUR 54.030
Landesbank Baden-Wuerttem3.000 7/24/2020 EUR 73.940
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 67.280
Vontobel Financial Produc11.000 3/13/2020 EUR 53.310
Vontobel Financial Produc16.000 3/13/2020 EUR 69.640
Landesbank Baden-Wuerttem3.000 7/24/2020 EUR 47.420
Landesbank Baden-Wuerttem5.000 7/24/2020 EUR 42.920
Vontobel Financial Produc15.500 3/27/2020 EUR 67.510
Vontobel Financial Produc18.000 3/13/2020 EUR 63.490
Goldman Sachs & Co Wertpa8.000 6/24/2020 EUR 72.810
UBS AG/London 8.000 6/15/2020 EUR 61.000
Vontobel Financial Produc6.500 3/13/2020 EUR 60.010
Landesbank Baden-Wuerttem5.000 9/25/2020 EUR 73.450
HSBC Trinkaus & Burkhardt10.500 6/26/2020 EUR 42.140
HSBC Trinkaus & Burkhardt7.700 6/26/2020 EUR 45.720
HSBC Trinkaus & Burkhardt5.200 6/26/2020 EUR 50.590
HSBC Trinkaus & Burkhardt9.700 2/28/2020 EUR 41.060
HSBC Trinkaus & Burkhardt3.600 6/26/2020 EUR 74.240
HSBC Trinkaus & Burkhardt6.900 9/25/2020 EUR 64.530
HSBC Trinkaus & Burkhardt4.900 9/25/2020 EUR 69.790
HSBC Trinkaus & Burkhardt9.600 3/27/2020 EUR 71.470
Deutsche Bank AG 6.200 3/24/2020 EUR 74.970
Citigroup Global Markets 12.000 2/13/2024 SEK 69.210
Vontobel Financial Produc10.500 3/27/2020 EUR 68.930
Vontobel Financial Produc11.000 3/27/2020 EUR 62.210
Vontobel Financial Produc9.500 3/27/2020 EUR 65.410
Bank Julius Baer & Co Ltd10.350 5/4/2020 EUR 74.800
Bank Julius Baer & Co Ltd15.500 5/4/2020 USD 55.050
Vontobel Financial Produc8.950 4/21/2020 EUR 73.460
Leonteq Securities AG 9.200 7/23/2020 CHF 71.140
Vontobel Financial Produc11.500 6/26/2020 EUR 73.080
Vontobel Financial Produc15.000 3/27/2020 EUR 61.250
Vontobel Financial Produc13.000 6/26/2020 EUR 61.170
Vontobel Financial Produc12.000 6/26/2020 EUR 50.390
Vontobel Financial Produc13.000 3/27/2020 EUR 48.410
DZ Bank AG Deutsche Zentr8.000 6/24/2020 EUR 67.130
UBS AG/London 9.250 10/26/2020 EUR 70.250
UniCredit Bank AG 10.300 7/24/2020 EUR 74.170
UniCredit Bank AG 14.300 7/24/2020 EUR 74.500
UniCredit Bank AG 12.600 7/24/2020 EUR 71.010
UniCredit Bank AG 13.100 7/24/2020 EUR 71.980
UniCredit Bank AG 14.300 7/24/2020 EUR 70.240
Bank Julius Baer & Co Ltd10.060 4/27/2020 CHF 70.600
Bank Julius Baer & Co Ltd8.500 4/27/2020 EUR 68.600
Landesbank Baden-Wuerttem3.750 4/20/2020 EUR 64.880
Bank Julius Baer & Co Ltd9.650 4/27/2020 USD 69.550
Landesbank Baden-Wuerttem2.300 2/25/2022 EUR 74.890
Landesbank Hessen-Thuerin4.000 12/22/2021 EUR 47.620
Raiffeisen Switzerland BV4.800 11/23/2023 CHF 53.930
UniCredit Bank AG 4.450 12/29/2022 EUR 61.980
UniCredit Bank AG 4.300 12/19/2021 EUR 58.480
UniCredit Bank AG 4.700 12/19/2021 EUR 59.280
UniCredit Bank AG 5.900 12/19/2020 EUR 44.810
Natixis SA 3.690 11/9/2020 USD 68.168
Landesbank Hessen-Thuerin3.250 7/8/2020 EUR 61.800
Landesbank Hessen-Thuerin1.950 9/3/2021 EUR 50.800
Goldman Sachs & Co Wertpa10.000 3/25/2020 EUR 51.480
Goldman Sachs & Co Wertpa3.000 6/24/2020 EUR 73.140
Goldman Sachs & Co Wertpa5.000 6/24/2020 EUR 68.820
Goldman Sachs & Co Wertpa10.000 6/24/2020 EUR 57.230
DekaBank Deutsche Girozen3.450 7/31/2020 EUR 59.420
Leonteq Securities AG 6.200 2/17/2021 CHF 60.750
UBS AG/London 10.000 8/10/2020 USD 56.360
Raiffeisen Schweiz Genoss6.000 2/17/2020 CHF 66.300
Landesbank Hessen-Thuerin3.500 9/8/2022 EUR 55.880
DekaBank Deutsche Girozen4.250 5/3/2022 EUR 54.180
DekaBank Deutsche Girozen6.200 11/9/2020 EUR 62.480
DekaBank Deutsche Girozen2.200 5/8/2020 EUR 44.220
DekaBank Deutsche Girozen2.500 5/7/2021 EUR 74.540
DekaBank Deutsche Girozen3.050 5/7/2021 EUR 67.890
EFG International Finance5.600 4/26/2021 CHF 60.990
Leonteq Securities AG/Gue5.000 10/20/2020 CHF 58.470
UniCredit Bank AG 6.350 5/14/2021 EUR 48.990
Landesbank Baden-Wuerttem4.500 2/28/2020 EUR 70.730
Landesbank Baden-Wuerttem4.550 2/28/2020 EUR 61.060
Landesbank Baden-Wuerttem6.500 2/28/2020 EUR 41.010
UniCredit Bank AG 4.400 5/17/2021 EUR 72.250
EFG International Finance6.200 5/3/2021 CHF 61.640
Commerzbank AG 3.200 4/6/2020 USD 65.540
Landesbank Baden-Wuerttem3.500 12/29/2020 EUR 56.610
UBS AG/London 9.000 4/14/2020 CHF 65.150
UBS AG/London 7.000 4/14/2020 CHF 68.850
DekaBank Deutsche Girozen3.300 5/8/2020 EUR 61.700
UniCredit Bank AG 4.900 11/14/2021 EUR 55.510
Landesbank Hessen-Thuerin5.500 5/25/2023 EUR 63.980
UBS AG/London 7.000 4/20/2020 CHF 58.150
Raiffeisen Schweiz Genoss6.250 4/27/2020 CHF 55.570
Raiffeisen Schweiz Genoss6.600 4/27/2020 EUR 73.230
Leonteq Securities AG/Gue8.000 10/27/2020 CHF 59.420
Landesbank Hessen-Thuerin6.000 8/25/2023 EUR 49.710
Landesbank Hessen-Thuerin5.900 8/25/2023 EUR 38.180
UBS AG/London 8.750 4/27/2020 EUR 66.100
UBS AG/London 8.000 4/27/2020 EUR 53.850
Goldman Sachs & Co Wertpa13.000 3/25/2020 EUR 47.570
Goldman Sachs & Co Wertpa10.000 6/24/2020 EUR 52.730
Goldman Sachs & Co Wertpa5.000 3/25/2020 EUR 67.540
Goldman Sachs & Co Wertpa15.000 3/25/2020 EUR 50.250
Leonteq Securities AG/Gue6.400 6/4/2020 CHF 18.550
DekaBank Deutsche Girozen5.500 2/26/2021 EUR 67.130
Vontobel Financial Produc4.500 12/30/2020 EUR 67.660
Landesbank Baden-Wuerttem2.750 11/25/2022 EUR 71.460
Landesbank Baden-Wuerttem4.000 2/28/2020 EUR 59.810
UBS AG/London 5.250 6/1/2020 USD 66.000
Bank Julius Baer & Co Ltd6.400 2/21/2020 EUR 70.900
Lehman Brothers Treasury 4.870 10/8/2013 USD 2.571
Derzhava-Garant OOO 9.000 6/24/2020 RUB 60.000
Lehman Brothers Treasury 3.025 1/31/2015 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
Heta Asset Resolution AG 4.875 12/31/2023 EUR 1.748
Lehman Brothers Treasury 2.300 6/27/2013 USD 2.571
Heta Asset Resolution AG 5.030 12/31/2023 EUR 1.748
Lehman Brothers Treasury 15.000 3/30/2011 EUR 2.571
Lehman Brothers Treasury 9.250 6/20/2012 USD 2.571
Lehman Brothers Treasury 0.750 3/29/2012 EUR 2.571
Lehman Brothers Treasury 4.500 3/7/2015 EUR 2.571
Lehman Brothers Treasury 7.750 1/30/2009 EUR 2.571
Kaupthing ehf 5.000 1/4/2027 SKK 0.250
RGS Nedvizhimost OOO 12.000 10/18/2017 RUB 0.335
Lehman Brothers Treasury 3.000 9/13/2010 JPY 3.750
Lehman Brothers Treasury 3.500 10/31/2011 USD 2.571
Lehman Brothers Treasury 0.250 10/19/2012 CHF 2.571
Mriya Agro Holding PLC 10.950 3/30/2016 USD 7.875
Lehman Brothers Treasury 7.000 2/15/2012 EUR 2.571
Lehman Brothers Treasury 6.000 2/14/2012 EUR 2.571
Lehman Brothers Treasury 4.690 2/19/2017 EUR 2.571
Lehman Brothers Treasury 3.500 10/24/2011 USD 2.571
Lehman Brothers Treasury 5.200 3/19/2018 EUR 2.571
Lehman Brothers Treasury 5.000 5/2/2022 EUR 2.571
Lehman Brothers Treasury 5.000 4/24/2017 EUR 2.571
Lehman Brothers Treasury 0.800 12/30/2016 EUR 2.571
Kaupthing ehf 5.250 7/18/2017 BGN 0.250
Kaupthing ehf 3.750 2/15/2024 ISK 0.250
Lehman Brothers Treasury 4.800 11/16/2012 HKD 2.571
Lehman Brothers Treasury 16.000 10/8/2008 CHF 2.571
SG Issuer SA 3.300 9/26/2034 ZAR 45.876
Lehman Brothers Treasury 6.000 9/20/2011 EUR 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 0.500 12/20/2017 AUD 2.571
Lehman Brothers Treasury 0.500 12/20/2017 AUD 3.400
Lehman Brothers Treasury 4.000 1/4/2011 USD 2.571
Lehman Brothers Treasury 0.500 12/20/2017 AUD 2.571
Kaupthing ehf 4.730 12/19/2008 SKK 0.250
Lehman Brothers Treasury 8.800 12/27/2009 EUR 2.571
Lehman Brothers Treasury 3.500 12/20/2027 USD 2.571
Lehman Brothers Treasury 5.200 11/9/2011 EUR 3.400
Lehman Brothers Treasury 4.600 10/11/2017 ILS 3.750
Lehman Brothers Treasury 14.900 11/16/2010 EUR 2.571
Lehman Brothers Treasury 8.000 3/19/2012 USD 2.571
Lehman Brothers Treasury 1.000 2/26/2010 USD 2.571
Lehman Brothers Treasury 0.500 12/20/2017 USD 2.571
Lehman Brothers Treasury 13.000 2/16/2009 CHF 2.571
Lehman Brothers Treasury 5.000 11/22/2012 EUR 2.571
Lehman Brothers Treasury 5.500 4/23/2014 EUR 2.571
Lehman Brothers Treasury 10.600 4/22/2014 MXN 2.571
Lehman Brothers Treasury 7.150 3/21/2013 USD 2.571
Lehman Brothers Treasury 6.450 2/20/2010 AUD 2.571
Lehman Brothers Treasury 7.500 2/14/2010 AUD 2.571
Lehman Brothers Treasury 15.000 6/4/2009 CHF 2.571
Lehman Brothers Treasury 5.550 3/12/2015 EUR 2.571
KPNQwest NV 7.125 6/1/2009 EUR 0.634
Lehman Brothers Treasury 2.000 6/28/2011 EUR 2.571
Lehman Brothers Treasury 3.000 6/3/2010 EUR 2.571
Lehman Brothers Treasury 9.000 5/6/2011 CHF 2.571
Lehman Brothers Treasury 16.000 11/9/2008 USD 2.571
Lehman Brothers Treasury 16.200 5/14/2009 USD 2.571
Kaupthing ehf 4.825 5/10/2045 ISK 0.250
Lehman Brothers Treasury 7.600 3/4/2010 NZD 2.571
Lehman Brothers Treasury 17.000 6/2/2009 USD 2.571
Lehman Brothers Treasury 23.300 9/16/2008 USD 2.571
Lehman Brothers Treasury 10.000 5/22/2009 USD 2.571
Lehman Brothers Treasury 8.000 5/22/2009 USD 2.571
Lehman Brothers Treasury 4.600 8/1/2013 EUR 2.571
Lehman Brothers Treasury 12.000 7/13/2037 JPY 2.571
Lehman Brothers Treasury 1.600 6/21/2010 JPY 2.571
Lehman Brothers Treasury 6.600 5/23/2012 AUD 2.571
Lehman Brothers Treasury 3.450 5/23/2013 USD 2.571
Lehman Brothers Treasury 16.000 10/28/2008 USD 2.571
Lehman Brothers Treasury 0.500 7/2/2020 EUR 2.571
Lehman Brothers Treasury 2.500 8/15/2012 CHF 2.571
Lehman Brothers Treasury 13.150 10/30/2008 USD 2.571
Nota-Bank OJSC 13.500 4/1/2016 RUB 31.500
Lehman Brothers Treasury 10.000 10/22/2008 USD 2.571
Lehman Brothers Treasury 7.000 4/24/2009 USD 2.571
Lehman Brothers Treasury 3.500 6/20/2011 EUR 2.571
Lehman Brothers Treasury 5.500 6/22/2010 USD 3.400
Lehman Brothers Treasury 10.000 10/23/2008 USD 2.571
Fondovye Strategicheskie 1.500 10/5/2020 RUB 100.00
Heta Asset Resolution AG 5.270 12/31/2023 EUR 1.748
Lehman Brothers Treasury 8.000 12/27/2032 JPY 2.571
Lehman Brothers Treasury 7.060 12/29/2008 EUR 2.571
Lehman Brothers Treasury 5.120 4/30/2027 EUR 2.571
Lehman Brothers Treasury 6.720 12/29/2008 EUR 2.571
Lehman Brothers Treasury 4.820 12/18/2036 EUR 2.571
Lehman Brothers Treasury 0.010 9/20/2011 USD 2.571
Lehman Brothers Treasury 4.100 8/23/2010 USD 2.571
Lehman Brothers Treasury 7.750 2/21/2016 EUR 2.571
Kaupthing ehf 7.000 7/24/2009 ISK 0.250
Lehman Brothers Treasury 4.050 9/16/2008 EUR 2.571
LBI ehf 5.080 3/1/2013 ISK 7.375
Heta Asset Resolution AG 0.281 12/31/2023 EUR 1.748
Lehman Brothers Treasury 7.625 7/22/2011 HKD 2.571
Lehman Brothers Treasury 6.600 2/9/2009 EUR 2.571
HSBC Bank PLC 0.500 11/25/2025 BRL 67.694
Lehman Brothers Treasury 2.400 6/20/2011 JPY 2.571
Lehman Brothers Treasury 4.050 9/16/2008 EUR 2.571
Vontobel Financial Produc5.250 2/21/2020 EUR 56.050
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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 2020. All rights reserved. ISSN 1529-2754.
This material is copyrighted and any commercial use, resale or
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contact Peter Chapman at 215-945-7000.
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