/raid1/www/Hosts/bankrupt/TCREUR_Public/210315.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, March 15, 2021, Vol. 22, No. 47
Headlines
F R A N C E
FONCIA MANAGEMENT: S&P Affirms 'B' Sr. Debt Rating, Outlook Stable
I T A L Y
BANCA DEPOSITARIA ITALIANA: S&P Withdraws 'BB-/B' ICRs
L U X E M B O U R G
BL CONSUMER: DBRS Gives Provisional BB Rating to Class E Notes
ENDO LUXEMBOURG: S&P Rates New $1BB First-Lien Notes 'B+'
N E T H E R L A N D S
DELFT 2020: S&P Raises Class F Notes Rating to 'BB+ (sf)'
R U S S I A
RUSSIAN RAILWAYS: Fitch Rates Hybrid LPNs 'BB+(EXP)'
S P A I N
CAIXABANK RMBS 2: DBRS Confirms BB (high) Rating on Class B Notes
SANTANDER CONSUMO 4: DBRS Finalizes BB (low) Series E Notes Rating
TECPETROL INT’L: Fitch Affirms BB LT IDRs, Alters Outlook to Stable
U N I T E D K I N G D O M
BAXTER HOARE: Covid-19 Pandemic Impact Prompts Administration
CANADA SQUARE 2021-1: S&P Puts B+ (sf) Rating to Class X-Dfrd Notes
DURHAM MORTGAGES: DBRS Finalizes BB Rating on Class E Notes
DURHAM MORTGAGES: DBRS Gives Prov. BB Rating to Class E Notes
FOOTBALL INDEX: Enters Administration, License Suspended
GEMGARTO 2021-1: DBRS Finalizes BB (high) Rating on Class X Notes
GREENSILL CAPITAL: Apollo Halts Talks with Administrators
GREENSILL CAPITAL: Credit Suisse Faces Questions from Regulators
GREENSILL CAPITAL: UK Taxpayers Exposed to GBP1BB of GFG's Debt
INDIVIOR PLC: S&P Affirms B Issuer Rating, Alters Outlook to Stable
LONDON CAPITAL: Administration Costs to Total GBP7.7MM in 2022
TOGETHER ASSET 2021-CRE1: DBRS Gives Prov. BB Rating to Cl. X Notes
X X X X X X X X
[*] BOND PRICING: For the Week March 8 to March 12, 2021
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F R A N C E
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FONCIA MANAGEMENT: S&P Affirms 'B' Sr. Debt Rating, Outlook Stable
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S&P Global Ratings affirmed its 'B' rating on Foncia Management
SASU and assigned its 'B' issue rating to the company's proposed
senior secured debt.
The stable outlook reflects its expectation that Foncia's operating
performance will remain resilient despite the COVID-19 pandemic,
and that the company will continue to deliver positive free
operating cash flow (FOCF) over the next two years.
Foncia Management plans to refinance its term loan B, repay its
drawings under its revolving credit facility (RCF), and pay a
EUR475 million dividend by issuing a EUR1,925 million financing
package, including EUR1,675 million of senior secured debt and
EUR250 million of junior subordinated debt.
Foncia's leverage will increase as a result of its proposed
refinancing, with debt to EBITDA remaining above 7x over the next
two years. Foncia plans to refinance its existing EUR1,187 million
first-lien term loan B, repay EUR120 million of the drawings under
its RCF, fund EUR110 million in acquisitions to be closed in
first-half 2021, and pay a EUR475 million dividend by issuing a
financing package totaling EUR1,925 million, including senior
secured debt and junior subordinated debt. The proposed transaction
also includes a material dividend payment of EUR475 million to
shareholders, which will result in a spike in leverage at closing.
S&P said, "We expect therefore that the company's debt to EBITDA
will increase, but anticipate Foncia will maintain some headroom
under its other key ratios, with funds from operations (FFO) cash
interest coverage remaining comfortably above 2.0x, supported by an
expected EBITDA increase. We expect acquisitions completed in 2020
and the additional EUR110 million acquisitions in 2021 will
contribute to EBITDA growth of about EUR15 million in 2021. We
expect debt to EBITDA will approach 7.0x in 2022 from above 8.0x in
2021 after the transaction. In our view, Foncia's high EBITDA
margins of 20%-24% on an adjusted basis, and strong EBITDA to cash
conversion rate should partially mitigate the higher leverage
metrics resulting from the dividend recapitalization."
The company's robust cash flow generation capacity, coupled with
both organic growth prospects following economic recovery from the
pandemic and external growth opportunities funded through
internally generated cash flow, should contribute to deleveraging
within the next two years. The proposed transaction does not
affect our view of the company's financial policy given its one-off
nature and the track record of Partners Group, Foncia's financial
sponsor, of prioritizing deleveraging over dividend distributions.
S&P expects Partners Group will commit to deleveraging post
transaction. Partners Group acquired Foncia in 2016 and has not
performed a dividend recapitalization prior to this transaction.
Foncia's operations recovered well from the effect of the first
COVID-19-related lockdown, and S&P expects the pandemic will have
only a limited impact in 2021. The first two-month lockdown
imposed by the French government had the most significant impact on
Foncia in 2020. The company's agencies were closed, with viewings
forbidden and notaries closed. However, since the end of the first
lockdown in May, restrictions have eased considerably, enabling
Foncia to return close to pre-pandemic activity levels. While the
second lockdown in France again affected Foncia, mainly regarding
brokerage, transfer fees, and letting activities, the impact was
less severe. While a third lockdown in France cannot be ruled out,
S&P believes measures will not be as stringent as in the first
lockdown, reducing the impact on Foncia's business. The company's
digitalization efforts and ability to offer dematerialized services
contributed to its recovery. In addition, S&P views as credit
positive that the company derives most of its operating cash flow
from recurring income, mainly through its management of jointly
owned properties and lease management operations, which together
accounted for about 60% of revenue in 2020. Nevertheless, S&P
believes there are still some material uncertainties related to the
pandemic and economic recovery that could negatively affect the
company's operating performance.
Foncia should continue to strengthen its position in the real
estate service market through external growth opportunities and
organic growth. Foncia intends to pursue its growth strategy,
focusing on small bolt-on acquisitions and internationalization of
its business offering. It intends to expand its operations in
Switzerland, Germany, Belgium, and Luxembourg, progressively
reducing its dependency on France, its largest market, which
represented 87% of total revenue as of end-2020. S&P said, "That
said, we expect Foncia will finance its external growth via its
resilient cash flow generation, limiting its recourse to
debt-funded acquisition. Similarly, we expect organic growth
stemming from cross selling opportunities as a result of Foncia's
digitalization efforts will contribute to revenue and EBITDA margin
growth."
S&P said, "The stable outlook reflects our expectation that
Foncia's operating performance will remain resilient despite the
COVID-19 pandemic, and that the company will continue to deliver
positive FOCF over the next two years, with revenue increasing
thanks to external growth from acquisitions and growth in core
segments and services. Our stable outlook assumes the pandemic will
only moderately impact operations and credit ratios in 2021. We
also assume that Foncia's FFO cash interest coverage will remain
comfortably above 2.0x over 2021, and that the company will
maintain sufficient liquidity to cover uses by at least 1.2x."
S&P could take a negative rating action if:
-- The group's profitability underperforms compared with our
expectations, owing to deteriorating real estate transaction market
conditions, changes in the regulatory and legal environment, or
increased competition;
-- Additional dividend recapitalizations result in higher leverage
than expected in our base case scenario;
-- Foncia fails to reduce leverage from currently elevated levels
due to deteriorating operating performance, resulting in negative
FOCF due to higher-than-expected exceptional costs, capital
expenditure (capex) investment needs, or increasing churn rates,
resulting in FOCF to debt falling below 5%; and
-- FFO cash interest coverage approaches 2.0x.
S&P could take a positive rating action if:
-- Foncia reduces leverage more quickly than expected, bringing
debt to EBITDA toward 5.0x on a sustainable basis;
-- The company reduces dependency on a single country; and
-- S&P sees a strong commitment from Partners Group to refrain
from raising leverage to increase shareholder remuneration.
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I T A L Y
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BANCA DEPOSITARIA ITALIANA: S&P Withdraws 'BB-/B' ICRs
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S&P Global Ratings withdrew its 'BB-/B' long- and short-term issuer
credit ratings on Italy-based DEPObank - Banca Depositaria Italiana
S.p.A. Following the merger deed with BFF Banking Group on March 1,
2021, with effective date from March 5, DEPObank ceased to exist as
separate legal entity. At the time of the withdrawal, the ratings
on DEPObank were on CreditWatch with positive implications and
there were no debt issue ratings outstanding.
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L U X E M B O U R G
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BL CONSUMER: DBRS Gives Provisional BB Rating to Class E Notes
--------------------------------------------------------------
DBRS Ratings GmbH assigned provisional ratings to the Class A,
Class B, Class C, Class D, Class E, Class F, and Class X notes
(collectively with the unrated Class G Notes, the Notes) to be
issued by BL Consumer Issuance Platform II S.a r.l., acting in
respect of its Compartment BL Consumer Credit 2021 (the Issuer) as
follows:
-- Class A notes at AAA (sf)
-- Class B notes at AA (sf)
-- Class C notes at A (high) (sf)
-- Class D notes at BBB (sf)
-- Class E notes at BB (sf)
-- Class F notes at B (low) (sf)
-- Class X notes at CCC (sf)
The ratings for the Class A and Class B notes address the timely
payment of scheduled interest and the ultimate repayment of
principal by the legal final maturity date. The ratings for other
classes of the rated Notes address the ultimate payment of
scheduled interest while subordinated then timely payment as the
most-senior class and the ultimate repayment of principal by the
legal final maturity date.
The provisional ratings are based on information provided to DBRS
Morningstar by the Issuer and its agents as of the date of this
press release. The ratings can be finalized upon review of final
information, data, legal opinions, and the executed version of the
governing transaction documents. To the extent that the information
or the documents provided to DBRS Morningstar as of this date
differ from the final information, DBRS Morningstar may assign
different final ratings to the rated notes.
The transaction is a securitization of credit card, revolving line,
and fixed-rate installment loans granted to individuals in Belgium
and Luxembourg, originated and serviced by Buy Way Personal Finance
SA (the seller and originator).
The ratings are based on the following analytical considerations:
-- The transactions' capital structure, including form and
sufficiency of available credit enhancement to support DBRS
Morningstar's expectation of charge-off and default, recovery,
principal payment, and yield rates under various stress scenarios.
-- The ability of the transaction to withstand stressed cash flow
assumptions and repays the rated Notes.
-- The originator's capabilities with respect to origination,
underwriting, and servicing and the existence of warm backup
servicer.
-- An operational risk review of the originator, which DBRS
Morningstar deems to be an acceptable servicer.
-- The transaction parties' financial strength regarding their
respective roles.
-- The credit quality, diversification, and historical and
projected performance of the securitized portfolio.
-- DBRS Morningstar's sovereign ratings of the Kingdom of Belgium
at AA (high) with a Negative trend and the Grand Duchy of
Luxembourg at AAA with a Stable trend.
-- The consistency of the transaction's legal structure with DBRS
Morningstar's "Legal Criteria for European Structured Finance
Transactions" methodology.
TRANSACTION STRUCTURE
The transaction incorporates separate interest and principal
waterfalls during the revolving and amortization periods that
allocate the available funds including reserve funds, swap
receipts, and collections of interest, principal, and recoveries
from receivables. The Notes amortize sequentially (except for the
Class X Notes ahead of the Class G Notes) and the interest priority
of payments incorporates a principal deficiency ledger (PDL) for
each class of notes (except for the Class X Notes) where available
funds may be used to cure the class-specific PDLs sequentially.
The transaction incorporates a 36-month scheduled revolving period.
During this period, additional receivables may be purchased by the
Issuer, provided that the eligibility criteria and portfolio
conditions set out in the transaction documents are satisfied. The
revolving period may end earlier than scheduled if certain events
occur, such as the breach of performance triggers or servicer or
seller termination.
The transaction includes a general reserve that is available to
cover the shortfalls in senior expenses, swap payments, and
interests on the Class A, Class B, and Class C notes (subject to
the most-senior class status and/or PDL conditions). The general
reserve is amortizing subject to a floor amount of EUR 1,317,500.
There is also a spread account (with zero balance at closing) to
trap excess spread in case it falls below 4% to provide liquidity
support to the senior expenses, swap payments, and interest due on
the rated Notes.
COUNTERPARTIES
Citibank Europe plc, Luxembourg Branch, is the issuer account bank
for the transaction. Based on DBRS Morningstar's rating of Citibank
Europe plc and the downgrade provisions outlined in the transaction
documents, DBRS Morningstar considers the risk arising from the
exposure to the issuer account bank to be commensurate with the
ratings assigned.
Natixis is the swap counterparty for the transaction. DBRS
Morningstar has a private rating of on Natixis, which meets the
criteria to act in such capacity at closing. The downgrade
provisions in the swap documentation are largely consistent with
DBRS Morningstar's criteria and the transaction will be monitored
based on DBRS Morningstar's rating of Natixis or its replacement.
PORTFOLIO ASSUMPTIONS AND COVID-19 CONSIDERATIONS
The Coronavirus Disease (COVID-19) and the resulting isolation
measures have caused an economic contraction, leading to increases
in unemployment rates and adverse financial impact on many
borrowers. DBRS Morningstar anticipates that delinquencies could
continue to rise, and payment and yield rates could remain subdued
in the coming months for many credit card and revolving loan
portfolios. The ratings are based on additional analysis and
adjustments to expected performance as a result of the global
efforts to contain the spread of the coronavirus.
After removing the interest collections, the estimated monthly
principal payment rates (MPPRs) for the total revolving loan
portfolio is approximately 9% during the January 2010 to December
2020 reporting period. In comparison, the MPPRs for the Buy Way
Line and Luxembourg portfolios are lower and have averaged between
5% and 6% over the past five years. Based on the analysis of
historical data, macroeconomic factors, product type-specific
coronavirus-related adjustments to expected performance and the
geographic concentration, DBRS Morningstar set the expected MPPR
for the total revolving loans at 6.5%.
The total portfolio yield has been very stable for the total
revolving credit portfolio, largely driven by the Belgian usury
rates. Based on the analysis of historical data and the geographic
limit, DBRS Morningstar set the expected yield at 11.6%.
The reported historical charge-off rates for the total revolving
credit portfolio have also been relatively stable at approximately
3.7% on average during the reporting period. Based on the analysis
of historical data, macroeconomic factors, and the product
type-specific coronavirus-related adjustments to expected
performance, DBRS Morningstar set the expected charge-off rate at
4.4%.
Overall default rates are relatively low for the originator's
unsecured installment loan lending with considerable volatility
among historical vintages. Most of the outstanding installment
loans are from personal loan originations that re-started in 2016.
The installment loan default performance to date benefitted from a
benign credit environment and is not considered sufficiently
seasoned to cover the full terms of loans or an economic cycle. In
contrast, the default performance of sales finance lending is more
seasoned but influenced by low origination volumes. Based on
performance and origination trends, DBRS Morningstar set the
expected lifetime default rate for the installment loan pool at
6.98%.
The expected recovery rate for all loan types is set at 25%, which
is adjusted for the expected coronavirus impact and is comparable
to jurisdictions with similar prescriptive legislation for recovery
processes, such as France.
Notes: All figures are in Euros unless otherwise noted.
ENDO LUXEMBOURG: S&P Rates New $1BB First-Lien Notes 'B+'
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S&P Global Ratings assigned its 'B+' issue-level rating and '2'
recovery rating to the proposed $1 billion first-lien notes issued
by Endo International PLC's subsidiaries Endo Luxembourg Finance
Co. S.a.r.l and Endo U.S. Inc., which will be guaranteed by Endo
International PLC and certain of its material wholly owned
restricted subsidiaries.
S&P said, "The '2' recovery rating indicates our expectation for
substantial (70%-90%; rounded estimate: 70%) recovery in the event
of a payment default and is consistent with our recovery rating on
the company's outstanding first-lien debt issues, which are all
pari passu. We expect Endo to use the proceeds from the new notes,
in combination with the proceeds from its proposed first-lien term
loan, to repay its existing $3.3 billion first-lien term loan
maturing in 2024 in a leverage-neutral transaction.
"Our 'CCC+' issue-level rating and '6' recovery rating on Endo's
existing second-lien and senior unsecured debt are unchanged.
"Our 'B' long-term issuer credit rating reflects the company's
decent scale (about $2.9 billion in revenue in 2020), good product
and therapeutic diversity, strong EBITDA margins (above 40%), and
decent cash flow generation. These considerations are partially
offset by its high leverage (in the 5x-6x range), declining revenue
in multiple segments, exposure to material risks stemming from
opioid litigation, potential competition for its largest product
Vasostrict, and the possibility that it will underperform our
expectations for a substantial expansion in the sales of its
Xiaflex and Qwo (a new treatment for cellulite) products.
"The negative outlook reflects that we could lower our rating on
Endo if we expect its leverage to rise above 7x even if its cash
flow remains positive. This could occur if its opioid-related
liabilities exceed our expectations or there is a significant
near-term decline in its revenue from Vasostrict."
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N E T H E R L A N D S
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DELFT 2020: S&P Raises Class F Notes Rating to 'BB+ (sf)'
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S&P Global Ratings affirmed its 'AAA (sf)' credit rating on Delft
2020 B.V.'s class A Dutch RMBS notes. At the same time, S&P raised
its rating on class B to 'AA+ (sf)' from 'AA (sf)'. S&P also raised
its ratings on the class C, D, E, and F notes to 'AA (sf)', 'A+
(sf)', 'BBB (sf)', and 'BB+ (sf)', from 'A+ (sf)', 'BBB+ (sf)',
'BB+ (sf)', and 'B+ (sf)', respectively.
The rating actions follow the increase in credit enhancement and a
decrease in the weighted-average foreclosure frequency (WAFF) and
weighted-average loss severity (WALS). They also reflect S&P's full
analysis of the most recent transaction information that it has
received and the transaction's structural features.
S&P said, "After applying our global RMBS criteria, the overall
effect in our credit analysis results in a decrease in WAFF and
WALS. The WAFF has decreased mainly due to the effective
loan-to-value (LTV) ratio we used for our foreclosure frequency
analysis, which reflects 80% of the original LTV ratio and 20% of
the current LTV ratio, and the increased weighted-average
seasoning. The level of arrears remains unchanged since closing, at
8.2% as of September 2020.
"Our WALS assumptions have decreased at all rating levels as a
result of the lower current LTV ratio.
Credit Analysis Results
Rating level WAFF (%) WALS (%)
AAA 38.77 42.29
AA 29.14 37.51
A 23.73 28.96
BBB 18.48 24.05
BB 12.13 20.51
B 10.66 17.30
The non-amortizing reserve fund is fully funded.
S&P said, "Our conclusions on operational, counterparty, and legal
risk analysis remain unchanged since closing. Therefore, no rating
cap applies to this transaction.
"We have affirmed our 'AAA (sf)' rating on the class A notes
because our full analysis indicated that the available credit
enhancement for this class is commensurate with the currently
assigned rating.
"We have raised to 'AA+ (sf)' our rating on the class B notes
because our full analysis indicated that the available credit
enhancement is commensurate with a higher rating.
"For the class C, D, E, and F notes, our cash flow analysis
indicated that these notes can achieve a higher rating output.
However, given the nonconforming nature of the assets, and the
junior position of the notes in the capital structure, we have
raised our ratings on these classes to 'AA (sf)', 'A+ (sf)', 'BBB
(sf)', and 'BB+ (sf)', from 'A+ (sf)', 'BBB+ (sf)', 'BB+ (sf)', and
'B+ (sf)', respectively. We have also tested our ratings with
additional sensitivities assumptions."
Delft 2020 B.V. is an RMBS transaction that closed in January 2020,
and it is backed by Dutch residential mortgage loans originated by
ELQ Hypotheken N.V. and Quion 50 B.V.
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R U S S I A
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RUSSIAN RAILWAYS: Fitch Rates Hybrid LPNs 'BB+(EXP)'
----------------------------------------------------
Fitch Ratings has assigned JSC Russian Railways' (RZD) Swiss
franc-denominated perpetual loan participation notes (LPNs) an
expected 'BB+(EXP)' rating. The final rating is contingent upon
receipt of final documentation conforming materially to the
preliminary documentation.
The LPNs are issued on a limited recourse basis by RZD's special
financial vehicle company RZD Capital P.L.C. The notes are issued
for the sole purpose of funding a Swiss franc loan from RZD Capital
P.L.C. to RZD. The noteholders will rely solely on RZD's credit and
financial standing for the payment of obligations under the notes.
RZD is Russia's monopolistic integrated railway operator. Fitch
assesses the company's support score at 35 under Fitch's
Government-Related Entities Rating Criteria, which combined with
its 'bbb+' Standalone Credit Profile (SCP) assessed under the
Public Sector, Revenue-Supported Entities Rating Criteria, leads to
RZD's Long-Term Issuer Default Rating (IDR) 'BBB' being equalised
with the sovereign's.
KEY RATING DRIVERS
Bond Rating Reflects Deep Subordination: The notes are rated two
notches below RZD's IDR given their highly subordinated nature,
which yields very low recovery prospects in a liquidation or
bankruptcy of the company. The notes will be extinguished in an
insolvency resulting from a Russian court initiating supervision of
or liquidation procedures against RZD. The notes rank senior only
to the claims of equity shareholders.
Equity Treatment: Fitch deems the notes as qualifying for a 50%
equity credit (EC). It reflects structural equity-like
characteristics of the instruments including their deep
subordination, remaining effective maturity exceeding five years,
full discretion to defer coupons for at least five years and
limited events of default. EC is limited to 50% by the notes'
deferred coupons being cumulative, which is a more debt-like
feature of the instrument. The company will be obliged to make a
mandatory settlement of deferred coupon payments under certain
circumstances, including dividend payments.
Terms of the hybrid notes do not require RZD to repurchase them in
the event of a change of control and do not contain material
affirmative or negative covenants, which could negate EC. The
allocated 50% EC implies that 50% of the notes will be classified
as RZD's debt, while Fitch treats coupon payments as 100% interest,
which is reflected in the company's coverage metrics.
Loan Terms: RZD Capital P.L.C. will apply the proceeds from each
tranche of the notes solely for financing the corresponding loan to
RZD. The notes will be redeemed by RZD Capital P.L.C. if the loan
is repaid by RZD. The loan will mirror all main terms of the notes
except for maturity.
Effective Maturity Date: Fitch views the notes as perpetuals
despite the loan having an initial maturity of 60.25 years, as the
company may at its sole discretion, at any time and on any number
of occasions, extend the loan's repayment date. The issuer has the
option to redeem the notes at least five-to-six years from the
issue. Fitch does not consider none of the call dates as an
effective maturity date as they are not accompanied with a coupon
step-up greater than 100bp. Once the effective maturity date
becomes determinable either due to the company's intention to repay
the note or due to other reasons, the 50% EC would change to 0%
five years before the effective maturity date.
DERIVATION SUMMARY
The notes' rating of 'BB+(EXP) is two notches below RZD's IDR,
which reflects the going-concern loss absorption capacity of the
notes and their highly subordinated nature. The notes will be
extinguished under certain insolvency scenarios, which is in line
with Fitch's general expectations of very low recoveries for the
majority of hybrid debt in case of insolvency.
RATING SENSITIVITIES
Factor that could, individually or collectively, lead to positive
rating action/upgrade:
-- A positive change in RZD's ratings will be mirrored in the
LPN's rating.
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
-- A negative change in RZD's ratings will be mirrored in the
LPN's rating.
-- For Sensitivities for RZD see the last Rating Action
Commentary published on 24 August 2020.
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).
BEST/WORST CASE RATING SCENARIO
International scale credit ratings of Sovereigns, Public Finance
and Infrastructure issuers have a best-case rating upgrade scenario
(defined as the 99th percentile of rating transitions, measured in
a positive direction) of three notches over a three-year rating
horizon; and a worst-case rating downgrade scenario (defined as the
99th percentile of rating transitions, measured in a negative
direction) of three notches over three years. The complete span of
best- and worst-case scenario credit ratings for all rating
categories ranges from 'AAA' to 'D'. Best- and worst-case scenario
credit ratings are based on historical performance.
CRITERIA VARIATION
The analysis used to determine the rating of RZD's LPNs included a
variation from the Public Sector, Revenue-Supported Entities Rating
Criteria to determine the notching of the hybrid instruments
relative to RZD's IDR and the allocation of EC.
SUMMARY OF FINANCIAL ADJUSTMENTS
Fitch allocates 50% EC the expected Swiss franc-denominated
perpetual LPNs and classifies 50% of the notes' outstanding value
as equity.
PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS
RZD's ratings are linked to Russia's IDR (BBB/Stable).
=========
S P A I N
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CAIXABANK RMBS 2: DBRS Confirms BB (high) Rating on Class B Notes
-----------------------------------------------------------------
DBRS Ratings GmbH took the following rating actions on the notes
issued by two CaixaBank RMBS transactions:
CaixaBank RMBS 1, FT
-- Class A Notes confirmed at A (sf)
-- Class B Notes upgraded to BBB (low) (sf) from BB (high) (sf)
CaixaBank RMBS 2, FT
-- Class A Notes confirmed at A (sf)
-- Class B Notes confirmed at BB (high) (sf)
The ratings on the Class A Notes address the timely payment of
interest and the ultimate payment of principal on or before the
legal final maturity date of each transaction. The ratings on the
Class B Notes address the ultimate payment of interest and
principal on or before the legal final maturity date of each
transaction.
The rating actions follow an annual review of the transactions and
are based on the following analytical considerations:
-- Portfolio performance, in terms of delinquencies and defaults,
as of December 2020 and January 2021 payment dates for CaixaBank
RMBS 1 and 2, FT, respectively.
-- Updated portfolio default rate (PD), loss given default (LGD),
and expected loss assumptions on the outstanding collateral pools.
-- The credit enhancement available to the rated notes to cover
the expected losses at their respective rating levels.
-- Current economic environment and an assessment of sustainable
performance, as a result of the Coronavirus Disease (COVID-19)
pandemic.
CaixaBank RMBS 1, FT and CaixaBank RMBS 2, FT are securitizations
of first-lien residential mortgage loans and first-lien
multicredito (drawn credit lines) mortgages on properties in Spain
originated and serviced by CaixaBank, S.A. (CaixaBank), that closed
in February 2016 and March 2017, respectively.
PORTFOLIO PERFORMANCE
CaixaBank RMBS 1, FT: As of December 2020, loans more than 90 days
in arrears remained low at 1.5% of the outstanding performing
portfolio collateral balance (versus 1.3% in December 2019). The
cumulative default ratio was at 1.1% of the original portfolio
balance (versus 0.8% December 2019).
CaixaBank RMBS 2, FT: As of January 2021, loans more than 90 days
in arrears were also low at 1.5% of the outstanding performing
portfolio collateral balance (versus 1.4% in January 2020). The
cumulative default ratio was at 0.9% of the original portfolio
balance (versus 0.6% January 2020).
PORTFOLIO ASUMPTIONS AND KEY DRIVERS
DBRS Morningstar conducted a loan-by-loan analysis on the remaining
receivables, considering updated multicredito balances, and updated
its base case PD and LGD assumptions to 5.0% and 16.6% (from 5.7%
and 25.6%), respectively, for CaixaBank RMBS 1, FT, and to 6.1% and
14.1% (from 7.3% and 18.7%), respectively, for CaixaBank RMBS 2,
FT.
The decrease in the portfolio assumptions prompted the upgrade of
the CaixaBank RMBS 1, FT Class B Notes.
CREDIT ENHANCEMENT
CaixaBank RMBS 1, FT: As of the December 2020 payment date, credit
enhancement to the Class A Notes was 18.9%, up from 17.5% one year
ago. The Class A Notes benefit from a reserve fund which provides
liquidity support and credit support to the Class A Notes. After
two years from closing, the reserve fund may amortize over the life
of the transaction subject to certain amortization triggers. The
reserve fund is currently at its target level of EUR 568.0 million,
which is a minimum of 8.0% of the outstanding balance of the rated
notes and 4.0% of their initial balance, subject to a floor of 2.0%
of that initial balance.
CaixaBank RMBS 2, FT: As of the January 2021 payment date, credit
enhancement to the Class A Notes was 19.3%, up from 17.9% last
year. The Class A Notes benefit from a reserve fund which provides
liquidity support and credit support to the Class A Notes. After
two years from closing, the reserve fund may amortize over the life
of the transaction subject to the certain amortization triggers.
The reserve fund is currently at its target level of EUR 127.2
million, which is the minimum of 6.0% of the current outstanding
balance of the rated notes and 4.75% of their initial balance.
The only available subordination for the Class B Notes is the
reserve fund, which currently covers principal and interest
payments on the Class A Notes only. However, upon payment in full
of the Class A Notes, it will also become available for the Class B
Notes on each transaction.
CaixaBank acts as the account bank for the transactions. Based on
the account bank reference rating of CaixaBank at A (high), which
is one notch below its DBRS Morningstar public Long-Term Critical
Obligations Rating (COR) of AA (low),the downgrade provisions
outlined in the transaction documents, and other mitigating factors
inherent in the transaction structure, DBRS Morningstar considers
the risk arising from the exposure to the account bank to be
consistent with the ratings assigned to the Class A Notes, as
described in DBRS Morningstar's "Legal Criteria for European
Structured Finance Transactions" methodology.
DBRS Morningstar analyzed the transaction structures in Intex
DealMaker.
The Coronavirus Disease (COVID-19) and the resulting isolation
measures have caused an economic contraction, leading to sharp
increases in unemployment rates and income reductions for many
borrowers. DBRS Morningstar anticipates that delinquencies may
continue to increase in the coming months for many RMBS
transactions, some meaningfully. The ratings are based on
additional analysis and adjustments to expected performance as a
result of the global efforts to contain the spread of the
coronavirus.
For these transactions, DBRS Morningstar increased its expected PD
for self-employed borrowers, incorporated a moderate reduction in
property values, and conducted additional sensitivity analysis to
determine that the transactions benefit from sufficient liquidity
support to withstand potential high levels of payment holidays in
the portfolio. As of December 2020, the loans that benefit from
moratorium due to the coronavirus represented 11.4% of the
portfolio for CaixaBank RMBS 1,FT and 12.6% of the portfolio for
CaixaBank RMBS 2, FT.
Notes: All figures are in Euros unless otherwise noted.
SANTANDER CONSUMO 4: DBRS Finalizes BB (low) Series E Notes Rating
-------------------------------------------------------------------
DBRS Ratings GmbH finalized its provisional ratings on the
following series of notes issued by FT Santander Consumo 4, (the
Issuer):
-- Series A Notes at AA (sf)
-- Series B Notes at A (high) (sf)
-- Series C Notes at A (low) (sf)
-- Series D Notes at BBB (low) (sf)
-- Series E Notes at BB (low) (sf)
DBRS Morningstar does not rate the Series F notes issued in this
transaction.
The rating on the Series A Notes addresses the timely payment of
interest and the ultimate repayment of principal by the legal final
maturity date in September 2032. The ratings on the Series B Notes,
Series C Notes, Series D Notes, and Series E Notes address the
ultimate payment of interest and the ultimate repayment of
principal by the legal final maturity date.
DBRS Morningstar based its ratings on a review of the following
analytical considerations:
-- The transaction's capital structure, including form and
sufficiency of available credit enhancement.
-- Credit enhancement levels are sufficient to support DBRS
Morningstar's projected expected net losses under various stress
scenarios.
-- The ability of the transaction to withstand stressed cash flow
assumptions and repay investors according to the terms of the
notes.
-- Banco Santander's, the seller, originator, and servicer
financial strength and its capabilities with respect to
originations, underwriting, and servicing.
-- The other parties' financial strength with regard to their
respective roles.
-- DBRS Morningstar's operational risk review of Banco Santander,
S.A., which it deemed to be an acceptable servicer.
-- The credit quality, diversification of the collateral, and
historical and projected performance of the portfolio.
-- DBRS Morningstar's current sovereign rating of the Kingdom of
Spain at "A" with a Stable trend.
-- The consistency of the transaction's legal structure with DBRS
Morningstar's "Legal Criteria for European Structured Finance
Transactions" methodology, and the presence of legal opinions that
address the true sale of the assets to the Issuer.
The transaction represents the issuance of Series A Notes, Series B
Notes, Series C Notes, Series D Notes, and Series E Notes backed by
a portfolio of fixed-rate (floating-rate receivables could be
included during the revolving period) receivables related to
consumer loans granted by Banco Santander, S.A. (the originator) to
private individuals residing in Spain. The originator also services
the portfolio. Proceeds from the Series F Notes funded the cash
reserve.
The transaction includes an 13-month revolving period scheduled to
end in March 2022 (included). During the revolving period, the
originator may offer additional receivables that the Issuer will
purchase provided that eligibility criteria and concentration
limits set out in the transaction documents are satisfied. The
revolving period may end earlier than scheduled if certain events
occur, such as the breach of performance triggers, insolvency of
the originator, or replacement of the servicer.
The transaction allocates payments on a combined interest and
principal priority of payments basis and benefits from an
amortizing cash reserve funded through the subscription proceeds of
the Series F Notes, which represents 2.0% of the rated notes. The
cash reserve can be used to cover senior costs and interest on the
Series A Notes, Series B Notes, Series C Notes, Series D Notes, and
Series E Notes. The cash reserve will be part of the available
funds.
The repayment of the rated notes will start after the end of the
revolving period on the first principal payment date in June 2022
on a pro rata basis unless certain events such as breach of
performance triggers, insolvency of the servicer, or termination of
the servicer occur. Under these circumstances, the principal
repayment of the notes will become fully sequential, and the switch
is not reversible.
Interest and principal payments on the notes will be made quarterly
on the 18th of March, June, September, and December. The Series A
Notes and Series B Notes pay interest indexed to three-month
Euribor whereas the entire provisional portfolio pays
fixed-interest rate (although floating- interest rate loans could
be purchase during the revolving period). The interest rate risk
arising from the mismatch between the Issuer's liabilities and the
portfolio is hedged through a cap collateral agreement with an
eligible counterparty.
Banco Santander S.A. (Banco Santander) acts as the account bank for
the transaction. Based on the DBRS Morningstar rating of Banco
Santander, the downgrade provisions outlined in the transaction
documents, and structural mitigants inherent in the transaction
structure, DBRS Morningstar considers the risk arising from the
exposure to Banco Santander to be consistent with the rating
assigned to the notes, as described in DBRS Morningstar's "Legal
Criteria for European Structured Finance Transactions"
methodology.
DBRS Morningstar analyzed the transaction structure in Intex
DealMaker, considering the default rates at which the notes did not
return all specified cash flows.
The Coronavirus Disease (COVID-19) and the resulting isolation
measures have caused an economic contraction, leading to sharp
increases in unemployment rates and income reductions for many
borrowers. DBRS Morningstar anticipates that delinquencies may
continue to arise in the coming months for many ABS transactions,
some meaningfully. The ratings are based on additional analysis and
adjustments to expected performance as a result of the global
efforts to contain the spread of the coronavirus. For this
transaction, DBRS Morningstar assumed a moderate decline in the
expected recovery rate.
Notes: All figures are in Euros unless otherwise noted.
TECPETROL INT’L: Fitch Affirms BB LT IDRs, Alters Outlook to Stable
---------------------------------------------------------------------
Fitch Ratings has affirmed Tecpetrol Internacional S.L (Tecpint)'s
Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs)
at 'BB'. The Rating Outlooks have been revised to Stable from
Negative.
Tecpint's ratings reflect its strong business position, large
reserve base, low leverage, strong and predictable cash flow
profile supported by contracted volumes and prices in Peru and
Argentina, and operating profile. Fitch estimates nearly 90% of
Tecpint's EBITDA comes from 'B' rated or below operating
environments, mostly in Argentina, which represents 80%.
The company's ratings are not capped by a country ceiling, as
EBITDA from its Peruvian operations alone has covered, and is
expected to cover, hard-currency consolidated interest expense by
over 3.0x through the rating horizon. Therefore, per Fitch's
"Non-Financial Corporates Exceeding the Country Ceiling Rating
Criteria," Tecpint's ratings are not capped by a country ceiling.
Fitch estimates the company's production size will average 150,000
barrel of oil equivalent per day (boed) through 2024 with a 1P
reserve life of at least 10 years. Fitch estimates total debt to
EBITDA to be below 1.0x over the rated horizon and total debt to 1P
is $0.95boe.
The Outlook revision to Stable from Negative reflects a
stabilization in the ratings of the operating environments, which
previously had Negative Outlooks, specifically Ecuador (B-/Stable)
and Bolivia (B/Stable). Argentina's 'CCC' rating is not expected to
impact the rating under its current cash flow generation profile.
Further, during 2020, Tecpint repaid $293 million of debt, and
Fitch estimates that between cash on hand and cash flows in 2021
and 2022, the company could comfortably repay its $500 million
senior unsecured note due in November 2022.
KEY RATING DRIVERS
Diversified Asset Base: Fitch views Tecpint's diversified asset
base as a credit positive. Tecpint has oil and gas exploration and
production operations in six countries across Latin America
(Argentina, Peru, Ecuador, Mexico, Colombia and Bolivia) as well as
gas transportation and distribution in Argentina and Mexico, and
electricity generation in Mexico. The company's principal reserves
are in Peru (21%), Bolivia (5%), Colombia (3%), Mexico (1%) Ecuador
(5%), and Argentina (65%). Approximately 70% of E&P revenues come
from sales of oil and gas and services from Argentina.
Camisea Stake: Tecpint's 10% ownership stake in blocks 88 and 56
within the Camisea natural gas field in Peru, which is estimated to
contribute nearly 9% of its EBITDA in 2021, provides stable and
predictable cash flows far beyond the maturities of the company's
debt obligations. Fitch forecasts Camisea's contribution to
Tecpint's EBITDA will alone be more than adequate to cover interest
expense, on average 3.1x, in 2021. Camisea's reserve life is
estimated to extend for more than 25 years, although the license
agreements for Camisea's two blocks, 88 and 56, expire in 2040 and
2044, respectively.
Strong Production Profile and Hydrocarbon Reserve Life: Tecpint's
ratings reflect the company's medium production size, consistent
with the low 'BBB' rated category, and relatively strong reserve
life of approximately 13.1 years compared with peers. In 2020,
Tecpint's total owned production is expected to average 150,000
boed (58.0 million boe per year) of which 85% is gas, and the
remainder is liquids. As of YE 2020, Tecpint had proved reserves of
761 million boe (75% gas and 25% liquids). Argentina has the
largest percentage by country at 65% followed by Peru (21%),
Bolivia (5%) and Ecuador (5%).
Strong Financial Profile: Fitch estimates Tecpint's EBITDA was $940
million in 2020, down 13% compared to 2019, mostly due to a
decrease in gas production in Argentina; the company EBITDA margin,
however, remains strong, estimated at 66% in 2020, slightly higher
than 61% in 2019. Fitch estimates EBITDA margin will return to 70%
by 2022. FCF for 2020 is estimated at positive $441 million, and
Fitch's base case reflects positive FCF through the rating horizon.
Total debt to 1P reserves is $0.95 per barrel of oil equivalent,
the lowest amongst peers in the region.
Contracted Gas Production in Argentina: Tecpint's stable cash flow
profile is supported by its contracted price scheme under Res. 46,
set to expire in 2021, and the recent Plan Gas 4 (PG4). In 2021,
Fitch assumes that 8.4MM cubic meters per day (m3d) of gas
production is contracted under Res. 46 at $6.0 MMBTU, resulting in
$670 million in revenue in 2020. The remaining production will be
sold at $3.65 MMBTU. Under PG4, Fitch assumes an average annual gas
production of 14.6 MM m3d sold at $3.65 MMBTU through 2024,
resulting in an average revenue of $715 million per annum.
Tecpint is exposed to payments from the Argentine federal
government, which has a history of payment delays. Nevertheless,
given its strong liquidity and cash flow profile, Fitch does not
expect a material impact on the company over the rated horizon.
Impact of Capital Controls: Fitch's rating case assumes that
Tecpetrol S.A. will refinance its $500 million senior unsecured
notes guaranteed by Tecpint. In the event capital controls are
extended through the end of 2022, Fitch expects a portion of
Tecpint's liquidity will be trapped in Argentina, and the company's
refinancing strategy will be influenced by the capital controls.
Fitch estimates Tecpint's Argentine EBITDA will average $680
million and non-Argentine EBITDA will average $270 million per
annum between 2021 and 2024. The company will have to continue to
manage the expected devaluation of the Argentine peso, high
inflation, and will be limited how much debt its Argentine entity
can repay.
DERIVATION SUMMARY
Tecpint's production is expected to average 174,000 boed over the
rated horizon and maintain a strong 1P reserve life of at least 10
years, which compares favorably with other 'BB' rated oil and gas
E& producers. These peers include Pan American Energy
(BB-/Positive) with 226,000 boed and 21 years reserve life, Murphy
Oil Corporation (BB+/Negative) with 171,000 of boed and 14 years
and YPF SA (CCC) with 480,000 of boed and 5.4 years. Tecpint's
Argentine peer Pan American Energy is capped by Argentina 's 'B-'
Country Ceiling, but receives multiple notch uplift, due to its
strong liquidity profile and cash flows from Bolivia and its
Mexican operations. Pan American Energy's Positive Outlook reflects
Fitch's expectation that it Mexican operations, which began in 2020
and will lift the country ceiling from Argentina to either Bolivia
or Mexico. YPF's rating is equalized with the country ceiling of
Argentina, due to the government's 51% ownership and the company's
strategic importance to the country.
Tecpint's capital structure is strong. Fitch expects gross leverage
(Total debt to EBITDA) to be 0.8x in 2020, which is in line with
Pan American Energy at 1.5x, and both are lower than Murphy Oil
(2.5x) and YPF (4.3x). On debt to 1P reserves, Fitch estimates
Tecpint's 2020 debt to 1P reserves are USD 0.95 boe, compared to
Pan American Energy at USD 1.49boe, and stronger than Murphy Oil
(USD4.34boe) and YPF (USD8.75boe).
KEY ASSUMPTIONS
-- Production in Bolivia, Colombia, Ecuador, Mexico and Peru to
remain flat through 2021;
-- Fortin de Piedra gas production average of 14.3 MM m3d from
2021 through 2024;
-- Fixed unconventional Gas prices under Resolution 46 to expire
in 2021 where 8.4 MM m3d of production will receive a
guaranteed price of $6.00 MMBTU in 2021;
-- Realized gas prices of $3.65 MMBtu in Argentina under Plan Gas
4 from 2022 through 2024 applied to an average of 12MM m3d;
-- Fitch's Brent oil price trending towards USD53/bbl for the
long term;
-- EBITDA margins expected to remain at an average of 70% from
2021 through 2024;
-- Total Capex of USD 1.9 billion between 2021-2024;
-- Dividends USD100 million paid annually from 2021 through 2024;
-- Peruvian EBITDA from CAMISEA average $120 million from 2021
through 2024;
-- International bond maturing in 2022 to be refinanced with a
new bullet bond at 5% coupon.
RATING SENSITIVITIES
Factors that could, individually or collectively, lead to positive
rating action/upgrade:
-- Although an upgrade is unlikely in the short-term, given a
majority of the company's cash flow originates from
speculative grade operating environments, one may be
considered in the long term if the operating environments
ratings improve and any or all the following events occur:
-- Production rising consistently above 170,000 boe/d on a
sustained basis; and
-- Reserve life stays robust, despite production growth, at
approximately 10 years; while
-- Company's maintain a conservative financial profile with gross
leverage of 2.5x or below;
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
-- Deterioration of its liquidity profile due to the Argentine
Capital controls and/or payment delays from Res. 46 and PG4.
-- Cancellation or material amendment of PG4 could negatively
impact the rating;
-- The ratings could be negatively affected by a deterioration of
Argentina, Bolivia, Ecuador and/or Peru's credit quality
combined with a material increase in the government's
interference in the sector.
-- An increase of sustained leverage above 3.5x coupled with a
decrease in interest coverage below 4.5x also be negatively
affect ratings.
BEST/WORST CASE RATING SCENARIO
International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.
LIQUIDITY AND DEBT STRUCTURE
Strong Liquidity: Tecpint reported a total consolidated cash and
equivalent of USD 414 million with $173 million in Argentina as of
September 30, 2020. Fitch estimates with cash on hand and cash
flow, the company can comfortable repay its $500 million
international bonds maturing in November 2022.
ESG CONSIDERATIONS
Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.
===========================
U N I T E D K I N G D O M
===========================
BAXTER HOARE: Covid-19 Pandemic Impact Prompts Administration
-------------------------------------------------------------
Business Sale reports that prominent corporate travel management
company Baxter Hoare Travel has ceased trading due to the impact of
the COVID-19 pandemic.
The London Bridge-based business has a history dating back to the
1880s and specialized in business travel, working with clients
including a range of private companies, government departments and
NGOs.
According to Business Sale, discussing the company's collapse amid
COVID-19, Adam White said: "We've been fighting and trying to make
a fist of it, but we couldn't continue to go on. A lot of other
travel companies are running out of air. I fear there will be more
failures if the government doesn't open air corridors soon."
The continuing disruption caused to both business and leisure
travel by COVID-19, which looks set to continue for much of the
remainder of 2021, has seen many companies enter administration or
be acquired by bigger operators, Business Sale relates.
"The BTA is very sad to see Baxter Hoare go into administration.
This is a brutal example of the ravages COVID-19 is wreaking on our
industry. The company has spent more than a century meeting the
needs of the business traveller. The industry and their clients
will sorely miss its expertise and service," Business Sale quotes
Clive Wratten, Chief Executive of the BTA, as saying.
In its last available accounts, to the year ending October 31 2019,
Baxter Hoare had fixed assets of GBP202,773 and current assets of
GBP925,735, Business Sale discloses. The company owed creditors
GBP656,108 within one year, leaving the company with total capital
of GBP472,400 at the time, Business Sale states.
CANADA SQUARE 2021-1: S&P Puts B+ (sf) Rating to Class X-Dfrd Notes
-------------------------------------------------------------------
S&P Global Ratings has assigned ratings to Canada Square Funding
2021-1 PLC's (CSF 2021-1) class A notes and class B-Dfrd to X-Dfrd
interest deferrable notes.
CSF 2021-1 is a static RMBS transaction that securitizes a
portfolio of GBP244.6 million BTL mortgage loans secured on
properties located in the U.K. The loans in the pool were
originated by Fleet Mortgages Ltd. (53.4%), Landbay Partners Ltd.
(34.2%), Topaz Funding Ltd. (under the brand name Zephyr Homeloans)
(9.5%), and Hey Habito Ltd. (2.9%). All loans were originated
between December 2019 and January 2021.
At closing, the issuer used the issuance proceeds to purchase the
full beneficial interest in the mortgage loans from the seller. The
issuer granted security over all of its assets in favor of the
security trustee.
In terms of collateral and the structural features, this
transaction is very similar to Canada Square Funding 2020-2 PLC, to
which S&P assigned ratings in July 2020.
Of the pool, only six of the mortgage loans have been granted
payment holidays due to COVID-19.
Citibank, N.A., London Branch, retains an economic interest in the
transaction in the form of a vertical risk retention loan note
accounting for 5% of the pool balance at closing. The remaining 95%
of the pool was funded through the proceeds of the mortgage-backed
rated notes.
S&P considers the collateral to be prime, based on the overall
historical performance of Fleet Mortgages', Landbay Partners',
Zephyr Homeloans', and Habito's respective BTL residential mortgage
books as of January 2021, the originators' conservative lending
criteria, and the absence of loans in arrears in the securitized
pool.
Credit enhancement for the rated notes consists of subordination
from the closing date and overcollateralization, which will result
from the release of the liquidity reserve excess amount to the
principal priority of payments.
The class A notes benefit from liquidity support in the form of a
liquidity reserve, and the class A and B-Dfrd through E-Dfrd notes
benefit from the ability of principal to be used to pay interest,
provided that, in the case of the class B-Dfrd to E-Dfrd notes, the
respective tranche's principal deficiency ledger does not exceed
10% unless they are the most senior class outstanding.
There are no rating constraints in the transaction under our
counterparty, operational risk, or structured finance sovereign
risk criteria. S&P considers the issuer to be bankruptcy remote.
Ratings List
Class Rating* Class size (%)*
A AAA (sf) 88.50
B-Dfrd AA- (sf) 6.00
C-Dfrd A (sf) 2.75
D-Dfrd BBB (sf) 1.50
E-Dfrd BB+ (sf) 1.25
X-Dfrd B+ (sf) 4.00
VRR loan note NR 5.00
S1 certs NR N/A
S2 certs NR N/A
Y certs NR N/A
*As a percentage of 95% of the pool for the class A to X-Dfrd
notes.
NR--Not rated.
N/A--Not applicable.
VRR--Vertical risk retention.
DURHAM MORTGAGES: DBRS Finalizes BB Rating on Class E Notes
-----------------------------------------------------------
DBRS Ratings Limited finalized the following ratings on the
residential mortgage-backed floating rate notes issued by Durham
Mortgages A plc (Durham or the Issuer):
-- Class A Notes at AAA (sf)
-- Class B Notes at AA (low) (sf)
-- Class C Notes at A (low) (sf)
-- Class D Notes at BBB (low) (sf)
-- Class E Notes at BB (sf)
-- Class F Notes at B (low) (sf)
-- Class X Notes at BB (high) (sf)
The rating on the Class A Notes addresses the timely payment of
interest and the ultimate repayment of principal on or before the
final maturity date in May 2054. The rating on the Class B notes
addresses the timely payment of interest once most senior and the
ultimate repayment of principal on or before the final maturity
date. The ratings on the Class C, Class D, Class E, Class F, and
Class X Notes address the ultimate payment of interest and
repayment of principal by the final maturity date.
The Issuer is a bankruptcy-remote special-purpose vehicle (SPV)
incorporated in the United Kingdom. The collateralized notes are
backed by an owner-occupied residential mortgage portfolio
originated by Bradford & Bingley and Mortgage Express (the
Originators), sold by Dorset Home Loans Limited (the Seller), and
serviced by Topaz Finance Limited (the Servicer).
The issuance performed by Durham Mortgages A is a refinancing of an
existing transaction that closed in 2018. The mortgage portfolio
(as of end-January 2021) consisted of EUR 2.00 billion of
first-lien mortgage loans collateralized by owner-occupied
residential properties in England and Wales, with a concentration
in the London and South East area. The majority of the pool (65.0%)
was originated between 2006 and 2007.
For the purpose of the refinanced transaction, the proceeds of the
notes were ultimately used to pay noteholders of the existing notes
whereas the portfolio backs the newly-issued notes. However, the
closing date of the refinanced transaction is a few days before the
redemption date of the existing notes. In the short period between
those two dates, the existing noteholders will hold security over
the cash proceeds of the new issuance whereas the noteholders of
the refinanced transaction will hold security over the portfolio.
DBRS Morningstar has reviewed legal opinions on the enforceability
of the different transfers involved in the refinancing.
Durham is a securitization where the seller is not the originator
or servicer of the loan portfolio. In 2018, the seller, an entity
which is part of the Barclays Group, sold loans to the Issuer that
were originated by Bradford & Bingley and Mortgage Express, which
both ceased their lending operations in 2008. This poses more risks
than a traditional RMBS transaction, where the Originators remain
mortgage lenders in the jurisdiction of the securitized portfolio
and services the assets, and consequently have a contractual duty
and commercial incentives to support the securitizations of their
assets. Furthermore, traded portfolio securitizations usually
involve more than one sale of the underlying portfolio, often
through SPVs and limitations to traditional representations and
warranties. DBRS Morningstar has reviewed legal opinions on the
validity of the sales.
Even though the mortgages were granted to nonconforming borrowers
at origination, the pool has so far displayed limited adverse
performance indicators. For example, restructuring arrangements
account for only about 2.7% of the outstanding portfolio, which is
a striking difference from other nonconforming pool of the same
period where restructures could account for about half of the
pool.
The portfolio has shown a limited uptake of the pandemic-payment
holidays, which have been more predominant in peer transactions.
Further current evidence of good performance is also reflected by
the low three-month-plus arrears ratio, which as of January 2021,
stood at 2.0%.
Interest-only (IO) loans make up 85.5% of the mortgage portfolio,
where the principal is repaid as a bullet at the loan's maturity.
This poses a risk at the maturity of the loan if the borrower does
not have a repayment strategy in place or is unable to refinance
before the maturity date. IO loans representing 0.7% of the
mortgage portfolio have matured in the past and are technically in
default status while still in most cases pay their regular IO
installments. DBRS Morningstar assumed a higher probability of
default (PD) for about 20% of the IO loans in the portfolio it
considers as riskier IO loans under its "European RMBS Insight: UK
Addendum". Past due IO loans have been treated as defaulted in DBRS
Morningstar's analysis.
The transaction includes both a general reserve fund (GRF) and a
liquidity reserve fund (LRF). The GRF provides credit and liquidity
support to the rated notes (with the exception of Class X notes).
It can be used to cover interest shortfalls on payments for the
Class A Notes and other rated notes if the relevant principal
deficiency ledger (PDL) condition (no more than 10% debited) is
satisfied. The GRF was funded mainly through the proceeds from the
Class R Notes at closing.
The LRF is available to provide liquidity support to the senior
fees payments, X certificate payments, and interest on the Class A
and Class X notes. The initial amount of 0.5% of initial Class A
Notes balance was mainly funded at closing through Class R
proceeds. The LRF does not amortize until Class A Notes reach half
their initial balance. After, it will amortize at 1% of the Class A
Notes outstanding balance. However, if the GRF is depleted to a
level lower than 1% of the initial portfolio before Class A has
reached half its initial size, then the LRF will be funded to 1% of
outstanding Class A Notes balance immediately, using interest
available funds, junior to Class A interest but senior to the Class
A PDL.
Citibank, N.A., London Branch (Citibank London) holds the Issuer's
transaction account and reserves. Based on the DBRS Morningstar
private rating of Citibank London, the downgrade provisions
outlined in the documents, and the transaction structural
mitigants, DBRS Morningstar considers the risk arising from the
exposure to Citibank London to be consistent with the ratings
assigned to the rated notes as described in DBRS Morningstar's
"Legal Criteria for European Structured Finance Transactions"
methodology.
DBRS Morningstar based its ratings on a review of the following
analytical considerations:
-- The transaction's capital structure and form and sufficiency of
available credit enhancement.
-- The credit quality of the mortgage portfolio and the ability of
the servicer to perform collection and resolution activities. DBRS
Morningstar calculated PD, loss given default (LGD), and expected
loss (EL) outputs on the mortgage portfolio, which are used as
inputs into the cash flow tool. The mortgage portfolio was analyzed
in accordance with DBRS Morningstar's "European RMBS Insight: UK
Addendum".
-- The ability of the transaction to withstand stressed cash flow
assumptions and repays the Class A, Class C, Class D, Class E,
Class F, and Class X notes according to the terms of the
transaction documents. While a failure to timely pay interest on
Class B Notes when most senior is not an event of default under the
transaction documents, DBRS Morningstar tested its Class B rating
for timely interest when most they become most senior. The
transaction structure was analyzed using Intex DealMaker,
considering the default rates at which the rated notes did not
return all specified cash flows.
-- The structural mitigants in place to avoid potential payment
disruptions caused by operational risk, such as a downgrade, and
replacement language in the transaction documents.
-- DBRS Morningstar's sovereign rating on the United Kingdom of
Great Britain and Northern Ireland at AA (high) with a Stable trend
as of the date of this press release.
-- The consistency of the transaction's legal structure with DBRS
Morningstar's "Legal Criteria for European Structured Finance
Transactions" methodology and presence of legal opinions addressing
the assignment of the assets to the Issuer.
The Coronavirus Disease (COVID-19) and the resulting isolation
measures have caused an economic contraction, leading to sharp
increases in unemployment rates and income reductions for many
borrowers. DBRS Morningstar anticipates that delinquencies may
continue to increase in the coming months for many structured
finance transactions, some meaningfully. The ratings are based on
additional analysis and, where appropriate, additional stresses to
expected performance as a result of the global efforts to contain
the spread of the coronavirus.
Notes: All figures are in British pound sterling unless otherwise
noted.
DURHAM MORTGAGES: DBRS Gives Prov. BB Rating to Class E Notes
-------------------------------------------------------------
DBRS Ratings Limited assigned provisional ratings to the following
classes of notes to be issued by Durham Mortgages A plc (Durham or
the Issuer):
-- Class A Notes at AAA (sf)
-- Class B Notes at AA (low) (sf)
-- Class C Notes at A (low) (sf)
-- Class D Notes at BBB (low) (sf)
-- Class E Notes at BB (sf)
-- Class F Notes at B (low) (sf)
-- Class X Notes at BB (high) (sf)
The provisional rating on the Class A Notes addresses the timely
payment of interest and the ultimate repayment of principal on or
before the final maturity date in May 2054. The provisional rating
on the Class B notes addresses the timely payment of interest once
most senior and the ultimate repayment of principal on or before
the final maturity date. The provisional ratings on the Class C,
Class D, Class E, Class F, and Class X Notes address the ultimate
payment of interest and repayment of principal by the final
maturity date.
The Issuer is a bankruptcy-remote special-purpose vehicle (SPV)
incorporated in the United Kingdom. The collateralized notes will
be backed by an owner-occupied residential mortgage portfolio
originated by Bradford & Bingley and Mortgage Express (the
Originators), sold by Dorset Home Loans Limited (the Seller), and
serviced by Topaz Finance Limited (the Servicer).
The issuance to be performed by Durham Mortgages A is a refinancing
of an existing transaction that closed in 2018. The provisional
mortgage portfolio (as of end-December 2020) consisted of EUR 2.02
billion of first-lien mortgage loans collateralized by
owner-occupied residential properties in England and Wales, with a
concentration in the London and South East area. The majority of
the pool (64.8%) was originated between 2006 and 2007.
For the purpose of the refinanced transaction, the proceeds of the
notes will be ultimately used to pay noteholders of the existing
notes whereas the portfolio will back the newly-issued notes.
However, the closing date of the refinanced transaction will be a
few days before the redemption date of the existing notes. In the
short period between those two dates, the existing noteholders will
hold security over the cash proceeds of the new issuance whereas
the noteholders of the refinanced transaction will hold security
over the portfolio. DBRS Morningstar has reviewed legal opinions on
the enforceability of the different transfers involved in the
refinancing.
Durham is a securitization where the seller is not the originator
or servicer of the loan portfolio. In 2018, the seller, an entity
which is part of the Barclays Group, sold loans to the Issuer that
were originated by Bradford & Bingley and Mortgage Express, which
both ceased their lending operations in 2008. This poses more risks
than a traditional RMBS transaction, where the Originators remain
mortgage lenders in the jurisdiction of the securitized portfolio
and services the assets, and consequently have a contractual duty
and commercial incentives to support the securitizations of their
assets. Furthermore, traded portfolio securitizations usually
involve more than one sale of the underlying portfolio, often
through SPVs and limitations to traditional representations and
warranties. DBRS Morningstar has reviewed legal opinions on the
validity of the sales.
Even though the mortgages were granted to nonconforming borrowers
at origination, the pool has so far displayed limited adverse
performance indicators. For example, restructuring arrangements
account for only about 2.7% of the outstanding portfolio, which is
a striking difference from other nonconforming pool of the same
period where restructures could account for about half of the
pool.
The portfolio has shown a limited uptake of the pandemic-payment
holidays, which have been more predominant in peer transactions.
Further current evidence of good performance is also reflected by
the low three-month-plus arrears ratio, which as of December 2020,
stood at 1.8%.
Interest-only (IO) loans make up 85.6% of the mortgage portfolio,
where the principal is repaid as a bullet at the loan's maturity.
This poses a risk at the maturity of the loan if the borrower does
not have a repayment strategy in place or is unable to refinance
before the maturity date. IO loans representing 0.8% of the
mortgage portfolio have matured in the past and are technically in
default status while still in most cases pay their regular IO
installments. DBRS Morningstar assumed a higher probability of
default (PD) for about 20% of the IO loans in the portfolio it
considers as riskier IO loans under its "European RMBS Insight: UK
Addendum". Past due IO loans have been treated as defaulted in DBRS
Morningstar's analysis.
The transaction includes both a general reserve fund (GRF) and a
liquidity reserve fund (LRF). The GRF provides credit and liquidity
support to the rated notes (with the exception of Class X notes).
It can be used to cover interest shortfalls on payments for the
Class A Notes and other rated notes if the relevant principal
deficiency ledger (PDL) condition (no more than 10% debited) is
satisfied. The GRF will be funded mainly through the proceeds from
the Class R Notes at closing.
The LRF is available to provide liquidity support to the senior
fees payments, X certificate payments, and interest on the Class A
and Class X notes. The initial amount of 0.5% of initial Class A
Notes balance mainly will be funded at closing through Class R
proceeds. The LRF does not amortize until Class A Notes reach half
their initial balance. After, it will amortize at 1% of the Class A
Notes outstanding balance. However, if the GRF is depleted to a
level lower than 1% of the initial portfolio before Class A has
reached half its initial size, then the LRF will be funded to 1% of
outstanding Class A Notes balance immediately, using interest
available funds, junior to Class A interest but senior to the Class
A PDL.
Citibank, N.A., London Branch (Citibank London) will hold the
Issuer's transaction account and reserves. Based on the DBRS
Morningstar private rating of Citibank London, the downgrade
provisions outlined in the documents, and the transaction
structural mitigants, DBRS Morningstar considers the risk arising
from the exposure to Citibank London to be consistent with the
ratings assigned to the rated notes as described in DBRS
Morningstar's "Legal Criteria for European Structured Finance
Transactions" methodology.
DBRS Morningstar based its ratings on a review of the following
analytical considerations:
-- The transaction's capital structure and form and sufficiency of
available credit enhancement.
-- The credit quality of the mortgage portfolio and the ability of
the servicer to perform collection and resolution activities. DBRS
Morningstar calculated PD, loss given default (LGD), and expected
loss (EL) outputs on the mortgage portfolio, which are used as
inputs into the cash flow tool. The mortgage portfolio was analyzed
in accordance with DBRS Morningstar's "European RMBS Insight: UK
Addendum".
-- The ability of the transaction to withstand stressed cash flow
assumptions and repays the Class A, Class C, Class D, Class E,
Class F, and Class X notes according to the terms of the
transaction documents. While a failure to timely pay interest on
Class B Notes when most senior is not an event of default under the
transaction documents, DBRS Morningstar tested its Class B rating
for timely interest when most they become most senior. The
transaction structure was analyzed using Intex DealMaker,
considering the default rates at which the rated notes did not
return all specified cash flows.
-- The structural mitigants in place to avoid potential payment
disruptions caused by operational risk, such as a downgrade, and
replacement language in the transaction documents.
-- DBRS Morningstar's sovereign rating on the United Kingdom of
Great Britain and Northern Ireland at AA (high) with a Stable trend
as of the date of this press release.
-- The consistency of the transaction's legal structure with DBRS
Morningstar's "Legal Criteria for European Structured Finance
Transactions" methodology and presence of legal opinions addressing
the assignment of the assets to the Issuer.
The Coronavirus Disease (COVID-19) and the resulting isolation
measures have caused an economic contraction, leading to sharp
increases in unemployment rates and income reductions for many
borrowers. DBRS Morningstar anticipates that delinquencies may
continue to increase in the coming months for many structured
finance transactions, some meaningfully. The ratings are based on
additional analysis and, where appropriate, additional stresses to
expected performance as a result of the global efforts to contain
the spread of the coronavirus.
Notes: All figures are in British pound sterling unless otherwise
noted.
FOOTBALL INDEX: Enters Administration, License Suspended
--------------------------------------------------------
Business Sale reports that the Gambling Commission has announced
that it has suspended the license of online betting operator
Football Index following a market crash that prompted the business
to fall into administration.
The operator revealed that it has suspended the company's platform
as a result of its collapse, preventing traders from withdrawing
their funds, Business Sale relates. The company has subsequently
confirmed that it is seeking to settle a restructuring arrangement
via insolvency practitioners Begbies Traynor, which it hopes will
allow it to satisfy all corporate stakeholders, Business Sale
discloses.
Launched in 2015, Football Index is an online platform that mimics
the stock market by allowing users to trade in "shares" of football
players. Traders would receive dividends based on the performance
of the players, while share prices could also rise and fall.
The news of the company's suspension follows a decision by the
operator to significantly reduce dividends on individual
transactions, which reduced player valuations and resulted in
losses of thousands of pounds for some traders, Business Sale
notes. This move prompted many users to withdraw their funds and
left the company unable to sustain the business, according to
Business Sale.
GEMGARTO 2021-1: DBRS Finalizes BB (high) Rating on Class X Notes
-----------------------------------------------------------------
DBRS Ratings Limited finalized the provisional ratings on the
following classes of notes issued by Gemgarto 2021-1 plc (GMG21-1
or the Issuer):
-- Class A Notes at AAA (sf)
-- Class B Notes at AA (sf)
-- Class C Notes at A (sf)
-- Class D Notes at A (low) (sf)
-- Class X Notes at BB (high) (sf)
The final ratings assigned to the Class B, Class C, Class D, and
Class X notes differ from the provisional ratings of AA (low) (sf),
A (low) (sf), BBB (high) (sf), and BB (low) (sf), respectively,
because of the tighter spreads and step-up margins on Class A
through Class X and a lower initial swap rate in the final
structure.
The rating on the Class A Notes addresses the timely payment of
interest and the ultimate repayment of principal on or before the
Final Maturity Date. The ratings on the Class B, Class C, and Class
D notes address the timely payment of interest once most senior and
the ultimate repayment of principal on or before the Final Maturity
Date. The rating on the Class X Notes addresses the ultimate
payment of interest and repayment of principal by the Final
Maturity Date. DBRS Morningstar does not rate the Class E or Class
Z notes.
GMG21-1 is a securitization collateralized by a portfolio of
owner-occupied residential mortgage loans granted by Kensington
Mortgage Company Limited (KMC) in England, Wales, and Scotland.
The Issuer issued five tranches of collateralized mortgage-backed
securities (Class A to Class E notes) to finance the purchase of
the initial portfolio. Additionally, GMG21-1 issued two classes of
noncollateralized notes, the Class X and Class Z notes, whose
proceeds funded the general reserve fund (GRF) and covered initial
costs and expenses. The Class X Notes will primarily amortize using
revenue funds; however, if the excess spread is insufficient to
fully redeem the Class X Notes, principal funds will be used to
amortize the Class X Notes in priority to the Class E Notes.
The transaction structure includes a four-year replenishment
period. During this time, principal receipts can be applied to
purchase further mortgage loans, subject to additional loan
criteria, once there are sufficient principal funds to amortize the
Class A Notes to the target notional amount.
The GRF, funded at closing with GBP 9.4 million, is available to
provide liquidity and credit support to the Class A to Class D
notes. From the first payment date onwards, the required GRF
balance will be 2.0% of the balance of the Class A to Class E
notes. If the GRF balance falls below 1.5% of the Class A to Class
E notes' balance, principal available funds will be used to fund
the liquidity reserve fund (LRF), which will be available to cover
interest shortfalls on the Class A and Class B notes, as well as
senior items from the pre-enforcement revenue priority of payment.
The availability of the LRF for paying interest on the Class B
Notes is subject to a 10% principal deficiency ledger condition.
As of January 31, 2021, the portfolio consisted of 2,798 loans with
an aggregate principal balance of GBP 470.7 million. Some of these
loans (29.7%) in the initial portfolio were previously securitized
under the Finsbury Square 2018-1 transaction. The mortgage loans in
the asset portfolio are all classified as owner-occupied and are
secured by a first-ranking mortgage right.
The portfolio contains 4.5% interest-only and part-and-part loans,
and 42.8% of the loans were granted to self-employed borrowers.
Furthermore, loans with prior County Court Judgments (CCJs)
comprise 11.5% of the mortgage pool and 13.4% of the loans were
granted under the Help-to-Buy (HTB) scheme. All of these loans have
at least three years of clean credit history in terms of CCJs,
defaults, Individual Voluntary Agreements, and bankruptcies. As of
the cut-off date, loans in arrears between one and three months
represented 2.2% of the outstanding principal balance of the
portfolio; no loans were three months or more in arrears.
The majority of the initial portfolio (88.4%) is loans that pay a
fixed rate of interest for a teaser period of between two and five
years before they will change to a floating rate. After having
switched, the majority of these loans will be linked to three-month
Libor with a small portion of loans switching to the Kensington
Standard Rate (KSR). The remaining 11.6% of the portfolio balance
are floating-rate loans that have already switched from their
initial fixed-rate period in the past and are indexed to
three-month Libor. The notes are all floating rate linked to
Sterling Overnight Index Average (Sonia). Interest rate risk is
expected to be hedged through an interest rate swap.
The Issuer has entered into a fixed-floating swap with BNP Paribas,
London Branch (BNP London) to mitigate the fixed-interest rate risk
from the mortgage loans and Sonia payable on the notes. Based on
the DBRS Morningstar private rating of BNP London, the downgrade
provisions outlined in the documents, and the transaction
structural mitigants, DBRS Morningstar considers the risk arising
from the exposure to BNP London to be consistent with the ratings
assigned to the rated notes as described in DBRS Morningstar's
"Derivative Criteria for European Structured Finance Transactions"
methodology.
Citibank, N.A., London Branch (Citibank London) holds the Issuer's
transaction account, the GRF, the LRF, and the swap collateral
account. Based on the DBRS Morningstar private rating of Citibank
London, the downgrade provisions outlined in the documents, and the
transaction structural mitigants, DBRS Morningstar considers the
risk arising from the exposure to Citibank London to be consistent
with the ratings assigned to the rated notes as described in DBRS
Morningstar's "Legal Criteria for European Structured Finance
Transactions" methodology.
DBRS Morningstar based its ratings on a review of the following
analytical considerations:
-- The transaction's capital structure and form and sufficiency of
available credit enhancement.
-- The credit quality of the mortgage portfolio and the ability of
the servicer to perform collection and resolution activities. DBRS
Morningstar calculated probability of default (PD), loss given
default (LGD), and expected loss outputs on the mortgage portfolio,
which are used as inputs into the cash flow tool. The mortgage
portfolio was analyzed in accordance with DBRS Morningstar's
"European RMBS Insight: UK Addendum".
-- The ability of the transaction to withstand stressed cash flow
assumptions and repays the Class A, Class B, Class C, Class D, and
Class X notes according to the terms of the transaction documents.
The transaction structure was analyzed using Intex DealMaker,
considering the default rates at which the rated notes did not
return all specified cash flows.
-- The structural mitigants in place to avoid potential payment
disruptions caused by operational risk, such as a downgrade, and
replacement language in the transaction documents.
-- DBRS Morningstar's sovereign rating on the United Kingdom of
Great Britain and Northern Ireland at AA (high) with a Stable trend
as of the date of this report.
-- The consistency of the transaction's legal structure with DBRS
Morningstar's "Legal Criteria for European Structured Finance
Transactions" methodology and presence of legal opinions addressing
the assignment of the assets to the Issuer.
The Coronavirus Disease (COVID-19) and the resulting isolation
measures have caused an economic contraction, leading to sharp
increases in unemployment rates and income reductions for many
borrowers. DBRS Morningstar anticipates that delinquencies may
continue to increase in the coming months for many structured
finance transactions, some meaningfully. The ratings are based on
additional analysis and, where appropriate, additional stresses to
expected performance as a result of the global efforts to contain
the spread of the coronavirus.
Notes: All figures are in British pound sterling unless otherwise
noted.
GREENSILL CAPITAL: Apollo Halts Talks with Administrators
---------------------------------------------------------
Abhinav Ramnarayan at Reuters reports that U.S. private equity
company Apollo Global Management has ended talks with the
administrators of British financing company Greensill after a
JPMorgan investment in Greensill's technology partner, two sources
familiar with the talks said.
Greensill, which filed for insolvency earlier last week after
losing the support of its main backers, employed around 1,000
people in the UK, Reuters relates.
Apollo was negotiating a US$60 million acquisition of Greensill's
operating assets via its insurance arm Athene, the company, as
cited by Reuters, said in its insolvency filing in a UK court
earlier last week.
However, after Taulia -- a San Francisco-based financial technology
company that had worked closely with Greensill -- said on March 10
it had secured more than US$6 billion of funding from a consortium
led by JPMorgan, the proposition became untenable, Reuters relays
citing one of the sources.
"As of [Fri]day, it's game over. There's no more talks with the
administrator at Greensill," Reuters quotes the source as saying.
The source said Apollo had hoped to use the Greensill platform to
fund some of its former clients, but this was a less attractive
proposition now, Reuters notes.
GREENSILL CAPITAL: Credit Suisse Faces Questions from Regulators
----------------------------------------------------------------
Brenna Hughes Neghaiwi, Makiko Yamazaki and Pamela Barbaglia at
Reuters report that Credit Suisse faces questions from regulators
and insurers as it grapples with the fallout from the collapse of
US$10 billion worth of funds linked to British financial services
firm Greensill Capital.
According to Reuters, a source familiar with the matter said on
March 10 the Swiss bank has hired external firms to help with their
inquiries in the wake of Greensill Capital's insolvency.
Meanwhile, Credit Suisse said in a memo the head of the bank's
European asset management arm, which sold the Greensill-linked
supply chain finance funds to investors, temporarily stood aside
along with two colleagues, Reuters relates.
Credit Suisse, which was a key source of funding for the speciality
finance firm, selling securities created by Greensill to investors
via its asset management arm, is also taking steps to recover a
Us$140 million loan in Australia, Reuters discloses.
The supply-chain financier Greensill began to unravel after losing
insurance coverage for its debt repackaging business, prompting
Credit Suisse to freeze funds linked to it, Reuters recounts.
Switzerland's second-largest bank has hired the external firms in
order to expedite the process of returning liquidation proceeds
from the funds to investors, the source told Reuters.
Credit Suisse has so far made US$3.05 billion worth of payments to
investors, Reuters notes. It has said further liquidation proceeds
will be paid out "as soon as practicable."
There are questions over the insurance contracts that underpinned
Greensill's securities, which were meant to protect investors in
the event of a default, Reuters states.
Japanese insurer Tokio Marine, which provided US$4.6 billion of
coverage to Greensill credit notes through an Australian unit, said
that it was investigating the validity of those policies, which it
inherited when it bought the unit from Insurance Australia Group in
2019, Reuters relays.
According to Reuters, a source familiar with the situation said the
policies were directly linked to the US$10 billion Credit Suisse
funds.
Credit Suisse, as cited by Reuters, said in a note to investors on
March 9 it had not been informed of any insurance cancellation
"until very recently," and that existing policies from Insurance
Australia had remained unchanged.
GREENSILL CAPITAL: UK Taxpayers Exposed to GBP1BB of GFG's Debt
---------------------------------------------------------------
Robert Smith, Ian Smith, Jim Pickard and Sylvia Pfeifer at The
Financial Times report that UK taxpayers are exposed to more than
GBP1 billion of debt from the troubled business empire of steel
magnate Sanjeev Gupta and the collapsed finance group Greensill
Capital via three government guarantees.
Using a state-backed coronavirus lending scheme, Greensill advanced
hundreds of millions of pounds to companies linked to Mr. Gupta,
according to people familiar with the matter, a much higher amount
than previously known, the FT states.
According to the FT, officials are now working to assess whether
the government has to stand behind the loans after Greensill filed
for administration last week, threatening the future of Mr. Gupta's
GFG Alliance, which was heavily reliant on the lender's financing.
In a second scheme, the Scottish government also provided
guarantees worth about GBP575 million to GFG when it bought an
aluminium smelter in Lochaber and two nearby hydropower plants, the
FT relates.
The third government program is the trade credit reinsurance
scheme, put in place last year to ensure insurers did not pull
their coverage as the pandemic hit, the FT discloses.
Officials at the Department for Business, Energy and Industrial
Strategy have had discussions with the Association of British
Insurers to try to assess potential taxpayer losses linked to the
fallout of Greensill's collapse, the FT relays, citing people
familiar with the matter.
The ABI said it was "too early" to judge the impact, the FT notes.
INDIVIOR PLC: S&P Affirms B Issuer Rating, Alters Outlook to Stable
-------------------------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term issuer rating and
revised the outlook to stable from negative on U.K.-based
pharmaceutical company Indivior PLC.
S&P said, "Our stable outlook reflects our expectation for
continued uptake of Sublocade and some market share loss for
Suboxone film resulting in lower margins, which will initially
result in cash flow deficits that will turn positive in 2023.
"Our rating actions reflect greater certainty in our forecast from
clarity of litigation liabilities and stronger performance in 2020
relative to our expectations. Indivior resolved major
uncertainties related to litigation with the DOJ ($600 million
settlement) and its former parent Reckitt Benckiser Group PLC ($50
million), and we believe the company's $858 million of cash at Dec.
31, 2020, will support litigation payments through 2027. The cash
balance also provides cushion to work through temporary free cash
flow deficits in 2021 and 2022. We view the free cash flow deficits
(excluding litigation payments) as temporary because they are
primarily related to a decline in rebates on Suboxone film as the
product's volume declines (estimated $125 million over the next two
years). Although adjusted gross debt (including litigation
liabilities) to EBITDA is very high (around 17x in 2021), adjusted
net debt to EBITDA is about 2x, so we view the cash balance as
meaningfully positive to the credit profile.
"We think revenue declines in recent years are likely to stabilize
in 2021, and revenue should grow in 2022 and 2023. We believe
revenue growth of Sublocade and subsiding working capital outflows
will lead to healthy free cash flow (greater than 5% of debt) by
2023, excluding litigation payments.
"Sublocade's growth is improving, and we think strong potential
remains. We think Sublocade, a long-acting injection to treat
opioid addiction, demonstrated solid growth in 2020 (80% growth
representing about 20% of total revenue) in a year with fewer
in-person doctor's visits and sales and marketing challenges. We
believe Indivior's strategy to market to consolidated health
systems will drive continued growth for the next three to five
years (nearly 30% CAGR). Although Sublocade does not have
regulatory exclusivity for long-acting buprenorphine, we think its
first-mover advantage with prescribers and its Risk Evaluation and
Mitigation Strategies program provide barriers to entry, supporting
continued volume growth.
"The product has patent protection until 2031, so we think branded
drug competition is the nearer-term risk compared to generic.
Sublocade's most imminent competition, Braeburn Inc.'s Brixadi,
received a complete response letter from the Food and Drug
Administrtion (FDA) in December 2020, jeopardizing the launch of
that product and providing a more favorable competitive landscape
for Sublocade. We also think revenue growth from Sublocade will
lead to improved gross margins starting in 2022 with limited need
for additional sales and marketing expenditures.
"Suboxone film is resilient, but we expect further market share
erosion in 2021 (approximately half of 2020 revenues). Market
share for Suboxone film (about 60% of 2019 company revenues) fell
precipitously following the launch of several generic competitors
in 2019, to about 20% in 2020, from 53% in 2018. While the decline
was steep, it has been less severe than we had originally forecast.
Nevertheless, we expect market share to continue to erode through
2021 in line with other historical analogues, leading us to expect
a third straight year of double-digit-percent revenue declines,
with declines decelerating in future years. A shift in customer mix
in Suboxone film is contributing to significantly lower gross
margins in 2021, which we expect to improve in 2022 from Sublocade
revenue growth.
"Indivior has a large balance of rebate liabilities of nearly $400
million in 2020. We expect this balance to decline as Suboxone film
revenue decreases, resulting in working capital outflows of about
$125 million in total over the next two years and likely smaller
annual outflows in 2023 and 2024.
"The stable outlook reflects our expectation for Indivior to grow
Sublocade revenue significantly in 2021 helping offset revenue
declines from Suboxone film. We expect margins to contract in 2021
from product mix and greater Sublocade marketing expenses, but we
expect margins to expand in 2022 and 2023. We also expect working
capital to normalize in 2023.
"We could lower the rating if revenue growth of Sublocade is slower
than expected over the next 12 months. We think weaker revenue
growth in Sublocade could prevent adjusted free cash flow to debt
from growing to 4%-5% in the next three years.
"We could also consider a lower rating if the company is unable to
refinance its term loan, which would pressure the company's ability
to meet its litigation liabilities.
"Alternatively, we could consider a lower rating if the company
uses a meaningful portion of cash for business development (e.g.,
$50 million to $100 million).
"We do not expect to raise the rating in the next 12 months because
of the company's concentrated business and high adjusted gross
leverage. We could consider an upgrade if we expect Indivior to
sustain adjusted gross debt to EBITDA below 4x."
LONDON CAPITAL: Administration Costs to Total GBP7.7MM in 2022
--------------------------------------------------------------
Michael Lloyd at Peer2Peer Finance News reports that the
administration costs of collapsed mini-bond provider London Capital
& Finance (LCF) are expected to total GBP7.7 million by next
January.
The latest progress report from joint administrators Smith &
Williamson revealed that fees have already reached GBP5.6 million,
Peer2Peer Finance News discloses. By January 29, 2022, the end of
the third year of the administration, costs are expected to hit
GBP7.7 million, Peer2Peer Finance News relays, citing the document
filed with Companies House.
According to Peer2Peer Finance News, the insolvency firm said it
should be noted that while the administrators' remuneration has yet
to be agreed, it is required to provide fee estimates within the
reports.
Four administrators from Smith & Williamson and one from FRP
Advisory are leading the insolvency, Peer2Peer Finance News
discloses.
In December 2020, Smith & Williamson announced to all bondholders
that it had issued a claim against 15 defendants seeking to recover
GBP178 million of bondholders' funds invested in LCF, Peer2Peer
Finance News recounts.
The firm said although a legal ruling currently restricts the
amount of information that can be shared about this, it will update
all bondholders with further information when legally able to do
so, Peer2Peer Finance News notes.
Andrea Hall, of LCF Bondholders, a group representing some of the
investors who lost money in the firm's collapse, told The Times
that the fees were "eye watering" and that the bondholders were
"very unhappy about the costs, Peer2Peer Finance News relays.
Henry Shinners, partner at Smith & Williamson and joint
administrator of LCF, said that the firm is transparent about its
fees, according to Peer2Peer Finance News.
He said these are subject to the approval of the creditors'
committee that then has agreed to pay some of the fees on account
and is in discussions around the unpaid balance, Peer2Peer Finance
News relates.
"Costs in the administration of LCF are driven by the level of
investigation work required in having to sift through over two
million documents and track tens of thousands of financial
transactions to work out where bondholders' money has gone and seek
to recover it," Peer2Peer Finance News quotes Mr. Shinners as
saying.
"Legal challenges by parties connected to LCF, which we believe
have been unnecessary and designed to obstruct our work, have also
added significantly to the costs. However, these challenges have
proved to us that we are on the right track and that those who we
are pursuing are worried."
TOGETHER ASSET 2021-CRE1: DBRS Gives Prov. BB Rating to Cl. X Notes
-------------------------------------------------------------------
DBRS Ratings Limited assigned provisional ratings to the following
classes of notes to be issued by Together Asset Backed
Securitization 2021-CRE1 Plc (TABS 2021-CRE1 or the Issuer):
-- Class A Notes at AAA (sf)
-- Class B Notes at AA (low) (sf)
-- Class C Notes at A (low) (sf)
-- Class D Notes at BBB (low) (sf)
-- Class E Notes at B (high) (sf)
-- Class X Notes at BB (sf)
The provisional rating on the Class A Notes addresses the timely
payment of interest and the ultimate repayment of principal on or
before the final maturity date. The provisional ratings on Class B,
Class C, Class D, and Class E notes address the timely payment of
interest once most senior and the ultimate repayment of principal
on or before the final maturity date. The provisional rating on the
Class X Notes addresses the ultimate payment of interest and
repayment of principal by the final maturity date. DBRS Morningstar
does not rate the Class Z Notes.
TABS 2021-CRE1 is the first public securitization issuance backed
by small balance commercial assets originated by Together
Commercial Financial Services Limited (TCFL). The portfolio of
loans comprises of first- and second-lien mortgage loans, secured
by commercial, mixed-use, and residential properties located in the
United Kingdom.
The Issuer is expected to issue five rated tranches of
collateralized mortgage-backed securities (Class A to Class E
notes) to finance the purchase of the initial portfolio. Issuance
proceeds from the unrated Class Z Notes will be used to partially
purchase the initial portfolio and the remaining proceeds will be
used to fund the general reserve fund (GRF) and the Class A
liquidity reserve fund (LRF). Additionally, TABS 2021-CRE1 is
expected to issue one class of uncollateralized notes, the Class X
Notes, which will amortize using excess revenue funds.
The GRF will amortize in line with the portfolio and will be
available to provide credit and liquidity support to the Class A to
Class E notes. The GRF will be fully funded at close at 2.0% of the
initial portfolio balance less the LRF. The LRF will provide
liquidity support for the Class A Notes, as well as senior items on
the pre-enforcement revenue priority of payments and will be sized
equal to 1.5% of the Class A Notes. Additionally, the notes will be
provided with liquidity support from principal receipts, which can
be used to cover interest shortfalls on the most-senior class of
notes, provided a credit is applied to the principal deficiency
ledgers, in reverse sequential order.
As of December 31, 2020, the portfolio consisted of 1,482 loans
provided to 1,399 borrowers. The average outstanding principal
balance per borrower is GBP 235,020, aggregating to a total
provisional portfolio of GBP 328.8 million. Approximately 41.9% of
the loans are either fully or partially borrower-occupied with
49.0% of the portfolio provided to self-employed borrowers.
Approximately two thirds of the portfolio is largely scheduled to
only pay interest on a monthly basis, with principal repayment
concentrated in the form of a bullet payment at the maturity date
of the mortgage (61.6% of the loans in the pool are interest only).
Furthermore, the provisional portfolio contains 5.0% of second-lien
loans and loans with a prior County Court Judgment comprise 9.6%.
The mortgages are high-yielding with a weighted-average coupon of
7.4% and newly originated with a weighted-average seasoning of 21.2
months. The weighted-average current loan-to-value (CLTV) ratio of
the portfolio is 57.0%, with 1.8% of loans exceeding 75% CLTV. No
loans in the portfolio are three months or more in arrears.
The majority of the initial portfolio (97.8%) is loans pay a
floating rate of interest linked to a standard variable rate set by
TCFL. The remaining 2.2% of the portfolio are currently either
paying an initial fixed rate of interest that will switch to a
floating rate of interest indexed to Bank Base Rate (BBR) or loans
linked to BBR that initially pay a reduced rate of interest. The
rated notes are all floating rate linked to Sterling Overnight
Index Average (Sonia). The basis rate mismatch will remain
unhedged.
Elavon Financial Services DAC, UK Branch (Elavon UK), will hold the
Issuer's transaction account. Based on the DBRS Morningstar private
rating of Elavon UK, the downgrade provisions outlined in the
documents, and the transaction structural mitigants, DBRS
Morningstar considers the risk arising from the exposure to Elavon
UK to be consistent with the ratings assigned to the rated notes as
described in DBRS Morningstar's "Legal Criteria for European
Structured Finance Transactions" methodology.
DBRS Morningstar based its ratings on a review of the following
analytical considerations:
-- The transaction's capital structure and form and sufficiency of
available credit enhancement.
-- The credit quality of the mortgage portfolio and the ability of
the servicer to perform collection and resolution activities. DBRS
Morningstar calculated probability of default (PD), loss given
default (LGD), and expected loss (EL) outputs on the mortgage
portfolio, which are used as inputs into the cash flow tool. The
mortgage portfolio was analyzed in accordance with DBRS
Morningstar's "European RMBS Insight: UK Addendum".
-- The ability of the transaction to withstand stressed cash flow
assumptions and repays the Class A, Class B, Class C, Class D,
Class E, and Class X notes according to the terms of the
transaction documents.
-- The structural mitigants in place to avoid potential payment
disruptions caused by operational risk, such as a downgrade, and
replacement language in the transaction documents.
-- DBRS Morningstar's sovereign rating on the United Kingdom of
Great Britain and Northern Ireland at AA (high) with a Stable trend
as of the date of this press release.
-- The consistency of the transaction's legal structure with DBRS
Morningstar's "Legal Criteria for European Structured Finance
Transactions" methodology and presence of legal opinions addressing
the assignment of the assets to the Issuer.
The transaction structure was analyzed using Intex DealMaker.
The Coronavirus Disease (COVID-19) and the resulting isolation
measures have caused an economic contraction, leading to sharp
increases in unemployment rates and income reductions for many
borrowers. DBRS Morningstar anticipates that delinquencies may
continue to increase in the coming months for many structured
finance transactions, some meaningfully. The ratings are based on
additional analysis and, where appropriate, adjustments to expected
performance as a result of the global efforts to contain the spread
of the coronavirus. For this transaction, DBRS Morningstar
incorporated a moderate reduction in property values and conducted
additional sensitivity analysis to determine that the transaction
benefits from sufficient liquidity support to withstand potential
high levels of payment holidays in the portfolio.
Notes: All figures are in British pound sterling unless otherwise
noted.
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week March 8 to March 12, 2021
--------------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------- -----
Europcar Mobility Group 4.12511/15/2024 EUR 70.704
Intralot Capital Luxemb 5.250 9/15/2024 EUR 42.069
Voltalia SA 1.000 1/13/2025 EUR 32.928
PB International BV 7.625 1/26/2022 USD 65.210
Europcar Mobility Group 4.000 4/30/2026 EUR 70.303
Intralot Capital Luxemb 6.750 9/15/2021 EUR 65.032
Transportes Aereos Port 5.625 12/02/2024 EUR 68.615
Casino Guichard Perrach 0.767 EUR 33.874
Accor SA 0.700 12/07/2027 EUR 52.232
Casino Guichard Perrach 3.992 EUR 54.801
Andrade Gutierrez Inter 9.50012/30/2024 USD 62.931
DTEK Finance PLC 10.75012/31/2024 USD 63.750
Tullow Oil PLC 7.000 03/01/2025 USD 70.887
European TopSoho Sarl 4.000 9/21/2021 EUR 64.907
Fuerstenberg Capital II 5.625 EUR 52.979
Obrascon Huarte Lain SA 4.750 3/15/2022 EUR 71.847
Carnival PLC 1.00010/28/2029 EUR 72.783
Vallourec SA 4.125 10/04/2022 EUR 5.140
Wirecard AG 0.500 09/11/2024 EUR 7.250
Rallye SA 4.371 1/23/2023 EUR 19.000
Rallye SA 4.000 04/02/2021 EUR 19.418
Obrascon Huarte Lain SA 5.500 3/15/2023 EUR 71.557
Korian SA 0.875 03/06/2027 EUR 56.375
Odea Bank AS 7.625 08/01/2027 USD 67.835
Mallinckrodt Internatio 5.750 08/01/2022 USD 40.750
Korian SA 2.500 EUR 42.625
Norwegian Air Shuttle A 7.250 11/11/2022 EUR 50.001
Metro Bank PLC 5.500 6/26/2028 GBP 65.049
Moby SpA 7.750 2/15/2023 EUR 23.675
Air France-KLM 0.125 3/25/2026 EUR 14.348
Naviera Armas SA 6.500 7/31/2023 EUR 53.628
Mitsubishi UFJ Investor 3.97712/15/2050 EUR 51.269
Valaris plc 7.750 02/01/2026 USD 8.750
Maisons du Monde SA 0.125 12/06/2023 EUR 42.393
Petra Diamonds US Treas 7.250 05/01/2022 USD 41.000
Ageasfinlux SA 0.833 EUR 71.397
Nexity SA 0.125 01/01/2023 EUR 63.269
Valaris plc 5.750 10/01/2044 USD 9.000
Quadient SA 3.375 EUR 57.630
Pacific Drilling SA 8.375 10/01/2023 USD 27.000
Econocom Group SA/NV 0.500 03/06/2023 EUR 7.146
Distribuidora Internaci 0.875 04/06/2023 EUR 62.854
Avation Capital SA 6.500 5/15/2021 USD 72.928
Nexity SA 0.250 03/02/2025 EUR 66.004
Union Fenosa Preferente 1.108 EUR 71.750
Valaris plc 4.875 06/01/2022 USD 9.970
Amigo Luxembourg SA 7.625 1/15/2024 GBP 61.117
Genfit 3.50010/16/2022 EUR 19.980
Valaris plc 5.200 3/15/2025 USD 8.750
Hurricane Energy PLC 7.500 7/24/2022 USD 43.688
Neoen SA 2.000 06/02/2025 EUR 72.272
Pierre Et Vacances SA 2.000 04/01/2023 EUR 49.814
Intelsat Luxembourg SA 8.125 06/01/2023 USD 6.500
Valaris plc 8.000 1/31/2024 USD 8.063
Officine Maccaferri-SpA 5.750 06/01/2021 EUR 34.915
Neoen SA 1.875 10/07/2024 EUR 68.650
Paper Industries Interm 6.000 03/01/2025 EUR 73.270
Cooperativa Muratori & 6.000 2/15/2023 EUR 1.952
Intelsat Jackson Holdin 5.500 08/01/2023 USD 69.938
Koninklijke Luchtvaart 0.750 CHF 23.050
Mallinckrodt Internatio 5.62510/15/2023 USD 41.750
Mallinckrodt Internatio 4.750 4/15/2023 USD 7.375
Nostrum Oil & Gas Finan 8.000 7/25/2022 USD 23.100
Cooperativa Muratori & 6.875 08/01/2022 EUR 1.560
Grupo Isolux Corsan SA 1.00012/30/2021 EUR 0.318
VIC Properties SA 3.000 5/28/2025 EUR 60.000
AX Del1 Oy 5.000 4/19/2021 EUR 69.699
Stockmann OYJ Abp 10.750 EUR 43.573
O1 Properties Finance P 8.250 9/27/2021 USD 22.295
Intelsat Luxembourg SA 7.750 06/01/2021 USD 7.000
Senvion Holding GmbH 3.87510/25/2022 EUR 1.447
Kudelski SA 1.500 9/27/2024 CHF 75.328
Jain International Trad 7.125 02/01/2022 USD 16.303
Valaris plc 4.500 10/01/2024 USD 8.750
Naviera Armas SA 4.25011/15/2024 EUR 53.884
Biocartis Group NV 4.000 05/09/2024 EUR 67.164
Offshore Drilling Holdi 8.375 9/20/2020 USD 9.820
Intelsat Jackson Holdin 8.50010/15/2024 USD 73.030
Swissport Investments S 6.75012/15/2021 EUR 1.264
Valaris plc 4.700 3/15/2021 USD 8.750
Thomas Cook Group PLC 6.250 6/15/2022 EUR 0.845
ADLER Real Estate AG 2.500 7/19/2021 EUR 13.943
Rallye SA 3.250 02/08/2024 CHF 18.000
Nostrum Oil & Gas Finan 7.000 2/16/2025 USD 25.839
Pacific Drilling SA 11.000 04/01/2024 USD 4.500
Intelsat Jackson Holdin 9.750 7/15/2025 USD 74.030
Rallye SA 5.250 02/01/2022 EUR 14.357
Intu SGS Finance PLC 3.875 3/17/2023 GBP 55.006
HOCHDORF Holding AG 2.500 CHF 59.391
Valaris plc 7.375 6/15/2025 USD 10.000
Rallye SA 4.00011/23/2020 CHF 16.213
Swissport Investments S 9.75012/15/2022 EUR 35.656
Galapagos Holding SA 7.000 6/15/2022 EUR 7.758
Intu Debenture PLC 5.56212/31/2027 GBP 49.000
Mallinckrodt Internatio 5.500 4/15/2025 USD 40.500
FIGEAC-AERO 1.12510/18/2022 EUR 21.487
EOS Imaging SA 6.000 5/31/2023 EUR 6.818
EA Partners II BV 6.750 06/01/2021 USD 41.480
Andrade Gutierrez Inter 9.50012/30/2024 USD 63.855
Wasps Finance Plc 6.500 5/13/2022 GBP 61.314
Abengoa Abenewco 2 Bis 1.500 4/26/2024 EUR 1.500
Senivita Social Estate 2.000 05/12/2025 EUR 25.010
Travelex Financing PLC 8.000 5/15/2022 EUR 2.195
Grupo Isolux Corsan SA 6.00012/30/2021 EUR 0.769
Intelsat Connect Financ 9.500 2/15/2023 USD 27.000
Intu Metrocentre Financ 4.125 12/06/2023 GBP 45.399
Mitchells & Butlers Fin 2.168 6/15/2036 GBP 71.506
Air Berlin PLC 6.750 05/09/2019 EUR 0.698
Paragon GmbH & Co KGaA 4.500 07/05/2022 EUR 57.041
KCA Deutag UK Finance P 9.875 04/01/2022 USD 48.333
Rallye SA 3.400 1/31/2022 EUR 19.460
Privatbank CJSC Via UK 11.000 02/09/2021 USD 9.550
Air Berlin PLC 8.250 4/19/2018 EUR 0.811
KCA Deutag UK Finance P 9.625 04/01/2023 USD 48.710
Valaris plc 4.750 1/15/2024 USD 7.250
Lambay Capital Securiti 6.250 GBP 0.001
Valaris plc 5.400 12/01/2042 USD 8.500
Cabonline Group Holding 7.500 12/09/2022 SEK 72.912
Virgolino de Oliveira F 10.500 1/28/2018 USD 1.034
Debenhams PLC 5.250 7/15/2021 GBP 1.179
FF Group Finance Luxemb 1.750 07/03/2019 EUR 5.666
Norwegian Air Shuttle A 5.000 02/07/2023 SEK 45.500
Banco Espirito Santo SA 7.12511/28/2023 EUR 0.001
Valaris plc 5.850 1/15/2044 USD 6.000
EA Partners I BV 6.875 9/28/2020 USD 0.890
Avangardco Investments 10.00010/29/2018 USD 3.250
FF Group Finance Luxemb 3.250 11/02/2021 CHF 7.835
WD Invest Sarl 1.900 10/02/2024 EUR 7.724
Stobart Finance PLC 2.750 05/08/2024 GBP 60.000
Rickmers Holding AG 8.875 06/11/2018 EUR 0.796
UkrLandFarming PLC 10.875 3/26/2018 USD 3.333
Virgolino de Oliveira F 11.750 02/09/2022 USD 1.296
Claranova SADIR 5.000 07/01/2023 EUR 1.110
YA Holding AB 4.000 6/18/2022 SEK 60.272
Allied Irish Banks PLC 12.500 6/25/2035 GBP 60.295
Fuerstenberg Capital Er 1.301 EUR 52.479
Mitsubishi UFJ Investor 3.70012/30/2099 EUR 4.910
Hellenic Bank PCL 10.000 EUR 46.704
Eramet SA 4.000 EUR 52.825
Vallourec SA 4.125 08/02/2027 EUR 74.270
Thomas Cook Finance 2 P 3.875 7/15/2023 EUR 1.041
KCA Deutag UK Finance P 7.250 5/15/2021 USD 48.500
Bank Otkritie Financial 10.000 4/26/2019 USD 9.029
Privatbank CJSC Via UK 10.250 1/23/2018 USD 29.974
Yuksel Insaat AS 9.500 11/10/2015 USD 2.537
Joh Friedrich Behrens A 7.750 11/11/2020 EUR 35.000
Jacktel AS 10.000 12/04/2023 USD 20.135
Stichting Afwikkeling O 6.25010/26/2020 EUR 2.976
Norddeutsche Landesbank 7.780 EUR 61.000
Immigon Portfolioabbau 5.705 EUR 12.512
Santhera Pharmaceutical 5.000 2/17/2022 CHF 34.428
Intralot Capital Luxemb 5.250 9/15/2024 EUR 41.996
DOF Subsea AS 8.37011/27/2023 NOK 25.166
Dexia Credit Local SA 1.208 EUR 4.217
Norwegian Air Shuttle A 6.37511/15/2024 USD 70.000
Bilt Paper BV 9.640 USD 0.876
Air Berlin PLC 5.625 05/09/2019 CHF 0.802
JZ Capital Partners Ltd 6.000 7/30/2021 GBP 9.050
Mitchells & Butlers Fin 1.918 9/15/2034 GBP 73.817
Mallinckrodt Internatio 5.750 08/01/2022 USD 39.250
Intu SGS Finance PLC 4.250 9/17/2030 GBP 56.573
Petra Diamonds US Treas 7.250 05/01/2022 USD 39.125
Afren PLC 6.625 12/09/2020 USD 0.065
Europcar Mobility Group 4.12511/15/2024 EUR 70.506
Hamon & CIE SA 3.300 1/30/2025 EUR 44.750
Tresu Investment Holdin 5.000 9/29/2022 EUR 29.263
Bourbon Corp 7.989 EUR 0.458
Yell Bondco PLC 8.500 05/02/2023 GBP 40.000
Tullow Oil PLC 7.000 03/01/2025 USD 70.852
Alno AG 8.500 5/14/2018 EUR 15.057
Dexia SA 1.265 EUR 2.212
ESFIL-Espirito Santo Fi 5.250 06/12/2015 EUR 1.232
Orient Express Bank PJS 10.000 USD 30.789
Intu SGS Finance PLC 4.625 3/17/2028 GBP 56.242
HI Bidco AS 8.400 1/30/2023 NOK 69.084
Banca Popolare di Vicen 9.500 9/29/2025 EUR 0.011
Breeze Finance SA 6.708 4/19/2027 EUR 28.950
Alitalia-Societa Aerea 5.250 7/30/2020 EUR 2.060
Hema Bondco II BV 8.500 1/15/2023 EUR 1.085
Stichting Afwikkeling O 11.250 EUR 0.506
New World Resources NV 8.000 04/07/2020 EUR 0.105
Paragon GmbH & Co KGaA 4.000 4/23/2024 CHF 39.000
DOF Subsea AS 9.500 3/14/2022 USD 25.239
CBo Territoria 3.750 07/01/2024 EUR 4.700
KTG Agrar SE 7.125 06/06/2017 EUR 2.397
Scandinavian Airlines S 0.625 CHF 23.784
Tennor Finance BV 5.750 6/17/2024 EUR 75.000
Espirito Santo Financia 6.87510/21/2019 EUR 0.529
Norske Skogindustrier A 7.00012/30/2026 EUR 0.001
Rallye SA 1.000 10/02/2020 EUR 15.309
Intralot Capital Luxemb 6.750 9/15/2021 EUR 65.032
Abengoa Abenewco 2 Bis 1.500 4/26/2024 USD 0.770
Gamalife - Cia de Segur 2.959 EUR 69.571
Afren PLC 11.500 02/01/2016 USD 0.032
OGX Austria GmbH 8.500 06/01/2018 USD 0.030
Europcar Mobility Group 4.000 4/30/2026 EUR 70.237
Cirio Holding Luxembour 6.250 2/16/2004 EUR 0.792
MaxFastigheter i Sverig 6.500 SEK 54.792
Privatbank CJSC Via UK 10.875 2/28/2018 USD 30.000
Deutsche Bank AG 1.968 6/28/2033 USD 75.625
Civitas Properties Fina 4.00011/24/2022 EUR 47.000
Banca Popolare di Vicen 2.82112/20/2017 EUR 0.227
Waste Italia SpA 10.50011/15/2019 EUR 0.727
New World Resources NV 4.000 10/07/2020 EUR 1.011
Norwegian Air Shuttle A 4.33011/23/2021 NOK 65.189
Banco Espirito Santo SA 2.110 EUR 0.045
KCA Deutag UK Finance P 7.250 5/15/2021 USD 48.417
Pacific Drilling SA 8.375 10/01/2023 USD 26.000
Afren PLC 10.250 04/08/2019 USD 0.015
OGX Austria GmbH 8.375 04/01/2022 USD 0.010
Steinhoff Finance Holdi 1.25010/21/2023 EUR 43.500
Manchester Building Soc 8.000 GBP 31.161
Banco Espirito Santo SA 6.875 7/15/2016 EUR 20.500
Societe Generale SA 10.55012/30/2022 USD 67.875
Transportes Aereos Port 5.625 12/02/2024 EUR 68.115
Verimatrix SA 6.000 6/29/2022 EUR 4.034
Alpine Holding GmbH 6.000 5/22/2017 EUR 0.173
Hellenic Republic Gover 2.085 7/25/2057 EUR 50.375
International Industria 9.000 07/06/2011 EUR 0.329
Ghelamco Invest 4.500 5/23/2022 EUR 40.000
Avation Capital SA 6.500 5/15/2021 USD 71.830
Elli Investments Ltd 12.250 6/15/2020 GBP 51.580
Agrokor dd 9.875 05/01/2019 EUR 15.000
Praktiker AG 5.875 02/10/2016 EUR 0.069
Veneto Banca SpA 9.878 12/01/2025 EUR 0.013
International Industria 11.000 2/19/2013 USD 0.355
Agrokor dd 9.125 02/01/2020 EUR 15.000
Cattles Ltd 8.125 07/05/2017 GBP 0.031
REM Saltire AS 7.110 6/30/2021 NOK 52.624
Kaupthing ehf 7.625 2/28/2015 USD 0.250
Vseukrainsky Aktsinerny 10.900 6/14/2019 USD 1.056
Havila Shipping ASA 2.590 01/02/2025 NOK 25.000
KCA Deutag UK Finance P 9.875 04/01/2022 USD 48.083
Banco Espirito Santo SA 6.900 6/28/2024 EUR 20.514
Societe Centrale des Bo 2.500 5/15/2023 EUR 6.880
Manchester Building Soc 6.750 GBP 26.857
Norske Skog Holding AS 8.000 2/24/2021 EUR 0.015
Steilmann SE 7.000 03/09/2017 EUR 1.429
Mallinckrodt Internatio 5.500 4/15/2025 USD 40.913
Hellas Telecommunicatio 6.054 1/15/2015 USD 0.001
Intelsat Jackson Holdin 8.50010/15/2024 USD 72.865
Finmek International SA 7.000 12/03/2004 EUR 2.193
Portugal Telecom Intern 6.250 7/26/2016 EUR 0.175
Espirito Santo Financia 3.125 12/02/2018 EUR 1.793
Norske Skogindustrier A 2.00012/30/2115 EUR 0.113
Linas Matkasse Newco AB 8.000 10/09/2022 SEK 55.750
Cirio Del Monte NV 7.750 3/14/2005 EUR 0.601
Chr Bygga Bostader Hold 9.000 07/05/2021 SEK 50.000
Virgolino de Oliveira F 10.500 1/28/2018 USD 1.034
Russian Federal Bond - 0.250 7/20/2044 RUB 18.941
Mallinckrodt Internatio 5.62510/15/2023 USD 30.000
Saleza AS 9.000 07/12/2021 EUR 0.203
Island Offshore Shiphol 2.690 6/30/2021 NOK 4.179
SAS AB 4.407 SEK 32.486
Lehman Brothers UK Capi 3.875 EUR 8.766
Komplett Bank ASA 8.500 NOK 66.708
LBI ehf 6.100 8/25/2011 USD 8.625
Phosphorus Holdco PLC 10.000 04/01/2019 GBP 0.612
Kaupthing ehf 5.750 10/04/2011 USD 0.250
Dr Wiesent Sozial gGmbH 7.000 EUR 0.210
Kredyt Inkaso SA 5.150 4/26/2023 PLN 74.300
ML 33 Invest AS 7.500 NOK 56.787
Kommunekredit 0.500 7/30/2027 TRY 41.421
Autonomous Community of 2.965 09/08/2039 JPY 72.078
Abengoa Abenewco 2 Bis 1.500 4/26/2024 USD 1.243
Lehman Brothers UK Capi 5.125 EUR 8.454
Bank Nadra Via NDR Fina 8.250 7/31/2018 USD 0.208
UniCredit Bank AG 12.60012/24/2021 EUR 58.640
OGX Austria GmbH 8.375 04/01/2022 USD 0.024
Intelsat Connect Financ 9.500 2/15/2023 USD 26.906
Hellas Telecommunicatio 8.50010/15/2013 EUR 0.540
Societe Generale SA 12.000 07/08/2021 USD 41.000
Alno AG 8.000 3/21/2019 EUR 14.000
Corporate Commercial Ba 8.250 08/08/2014 USD 0.308
MS Deutschland Beteilig 6.87512/18/2017 EUR 1.900
Cirio Finance Luxembour 7.500 11/03/2002 EUR 2.302
Steilmann SE 7.000 9/23/2018 EUR 1.429
Sairgroup Finance BV 4.375 06/08/2006 EUR 0.233
Banco Espirito Santo SA 2.290 EUR 0.289
Swissport Investments S 9.75012/15/2022 EUR 35.656
Amigo Luxembourg SA 7.625 1/15/2024 GBP 62.025
German Pellets GmbH 7.250 04/01/2016 EUR 0.634
Lehman Brothers UK Capi 5.750 EUR 2.225
KPNQwest NV 10.000 3/15/2012 EUR 0.068
German Pellets GmbH 7.250 07/09/2018 EUR 0.634
Virgolino de Oliveira F 10.875 1/13/2020 USD 30.000
Steilmann SE 6.750 6/27/2017 EUR 2.184
Espirito Santo Financia 9.75012/19/2025 EUR 1.137
EDOB Abwicklungs AG 7.500 04/01/2012 EUR 2.000
Lehman Brothers UK Capi 6.900 USD 2.745
KCA Deutag UK Finance P 9.625 04/01/2023 USD 48.710
Del Monte Finance Luxem 6.625 5/24/2006 EUR 1.813
Afren PLC 10.250 04/08/2019 USD 0.015
Gebr Sanders GmbH & Co 8.75010/22/2018 EUR 9.478
Deutsche Bank AG/London 2.120 8/28/2034 USD 78.750
Erotik-Abwicklungsgesel 7.750 07/09/2019 EUR 0.779
KTG Agrar SE 7.25010/15/2019 EUR 2.397
Credit Suisse AG/London 0.500 11/02/2023 USD 10.360
SAG Solarstrom AG 7.500 07/10/2017 EUR 31.000
Activa Resources AG 0.50011/15/2021 EUR 1.000
Vneshprombank Ltd Via V 9.00011/14/2016 USD 0.078
Autostrade per l'Italia 2.730 12/10/2038 JPY 28.440
Odea Bank AS 7.625 08/01/2027 USD 67.801
Sairgroup Finance BV 6.625 10/06/2010 EUR 0.233
Afren PLC 6.625 12/09/2020 USD 0.065
Offshore Drilling Holdi 8.375 9/20/2020 USD 9.820
Cooperatieve Rabobank U 0.500 7/30/2043 MXN 16.529
SAir Group 5.500 7/23/2003 CHF 12.625
Uppfinnaren 1 AB 11.000 SEK 40.000
Depfa Funding II LP 6.500 EUR 60.272
Norske Skog Holding AS 8.000 2/24/2023 USD 0.015
Solship Invest 1 AS 5.000 12/08/2024 NOK 6.788
Cooperatieve Rabobank U 0.50010/30/2043 MXN 16.573
Bulgaria Steel Finance 12.000 05/04/2013 EUR 0.216
Nostrum Oil & Gas Finan 8.000 7/25/2022 USD 24.325
Agrokor dd 8.875 02/01/2020 USD 15.000
Deutsche Agrar Holding 7.250 9/28/2018 EUR 1.254
Senvion Holding GmbH 3.87510/25/2022 EUR 1.447
German Pellets GmbH 7.25011/27/2019 EUR 0.634
Caixa Economica Montepi 5.000 EUR 50.000
International Finance F 0.500 6/29/2027 ZAR 66.434
Barclays Bank PLC 0.333 4/13/2022 USD 9.770
Tonon Luxembourg SA 12.500 5/14/2024 USD 0.543
Windreich GmbH 6.500 03/01/2015 EUR 5.875
Solstad Offshore ASA 4.000 9/24/2021 NOK 4.500
Skandinaviska Enskilda 9.500 7/17/2023 SEK 58.630
Credit Suisse AG/London 8.00012/21/2023 USD 9.800
Nostrum Oil & Gas Finan 7.000 2/16/2025 USD 24.282
Sidetur Finance BV 10.000 4/20/2016 USD 3.532
Solon SE 1.375 12/06/2012 EUR 0.544
La Veggia Finance SA 7.12511/14/2004 EUR 0.287
Intelsat Jackson Holdin 9.750 7/15/2025 USD 72.499
Paper Industries Interm 6.000 03/01/2025 EUR 73.270
Rio Forte Investments S 4.000 7/22/2014 EUR 5.538
Golden Gate AG 6.500 10/11/2014 EUR 37.500
A-TEC Industries AG 8.75010/27/2014 EUR 0.100
International Bank of A 8.250 10/09/2024 USD 60.375
Marine Subsea AS 9.00012/16/2019 USD 0.688
Alpine Holding GmbH 5.250 07/01/2015 EUR 0.173
UniCredit Bank AG 0.11511/19/2029 EUR 72.343
Tonon Luxembourg SA 9.250 1/24/2020 USD 1.000
Commerzbank AG 0.08511/19/2029 EUR 62.545
Mriya Agro Holding PLC 10.950 3/30/2016 USD 5.000
Rena GmbH 8.250 07/11/2018 EUR 2.096
WPE International Coope 10.375 9/30/2020 USD 5.706
Stichting Afwikkeling O 2.207 EUR 0.506
Afren PLC 11.500 02/01/2016 USD 0.032
Finance and Credit Bank 9.250 1/25/2019 USD 0.257
Lehman Brothers Treasur 5.220 03/01/2024 EUR 0.100
SiC Processing GmbH 7.125 03/01/2016 EUR 2.572
Danske Bank A/S 6.010 07/09/2023 SEK 71.930
HPI AG 3.500 EUR 3.011
Pescanova SA 8.750 2/17/2019 EUR 0.319
Veneto Banca SpA 6.950 2/25/2025 EUR 0.018
SAG Solarstrom AG 6.25012/14/2015 EUR 31.000
Virgolino de Oliveira F 10.875 1/13/2020 USD 30.000
Societe Generale SA 8.900 11/01/2021 USD 66.500
Naviera Armas SA 4.25011/15/2024 EUR 54.326
KPNQwest NV 8.875 02/01/2008 EUR 0.068
Societe Generale SA 21.00012/23/2022 USD 68.950
Stichting Afwikkeling O 6.625 5/14/2018 EUR 2.976
Havila Shipping ASA 4.270 01/02/2025 NOK 50.982
Lloyds Bank PLC 0.500 7/26/2028 MXN 59.821
Golfino AG 8.00011/18/2023 EUR 0.050
Muehl Product & Service 6.750 03/10/2005 DEM 0.050
OGX Austria GmbH 8.500 06/01/2018 USD 0.030
Rena GmbH 7.00012/15/2015 EUR 2.096
Credit Suisse AG/London 10.00010/26/2023 USD 10.124
Intelsat Jackson Holdin 9.750 7/15/2025 USD 72.499
Barclays Bank PLC 5.000 11/01/2029 BRL 70.919
Resa SA/Belgium 1.950 7/22/2036 EUR 50.000
Ahtium PLC 9.750 04/04/2017 EUR 0.709
Pescanova SA 5.125 4/20/2017 EUR 0.319
Air Berlin Finance BV 6.000 03/06/2019 EUR 0.652
Credit Suisse AG/London 6.500 3/28/2022 USD 3.740
Getin Noble Bank SA 5.260 3/31/2023 PLN 74.749
Credit Suisse AG/London 11.750 1/31/2022 USD 73.846
UBS AG/London 9.000 11/10/2022 USD 5.646
Banco Santander SA 1.855 EUR 2.117
Galapagos Holding SA 7.000 6/15/2022 EUR 7.758
AKB Peresvet ZAO 0.510 08/04/2034 RUB 19.000
A-TEC Industries AG 2.750 05/10/2014 EUR 0.100
Norske Skog Holding AS 8.000 2/24/2021 EUR 0.015
Alpine Holding GmbH 5.250 06/10/2016 EUR 0.173
Cooperatieve Rabobank U 0.500 1/31/2033 MXN 41.003
CRC Breeze Finance SA 6.110 05/08/2026 EUR 39.920
Opus-Chartered Issuance 5.000 03/08/2027 USD 66.440
Mifa Mitteldeutsche Fah 7.500 08/12/2018 EUR 2.100
Veneto Banca SpA 6.411 EUR 0.628
SpareBank 1 SR-Bank ASA 1.20712/21/2030 EUR 71.885
Officine Maccaferri-SpA 5.750 06/01/2021 EUR 34.915
Zurcher Kantonalbank Fi 11.000 7/22/2021 CHF 75.250
KPNQwest NV 7.125 06/01/2009 EUR 0.068
Aralco Finance SA 10.125 05/07/2020 USD 0.934
Cooperatieve Rabobank U 0.50011/30/2027 MXN 65.602
Yell Bondco PLC 8.500 05/02/2023 GBP 40.000
Veneto Banca SpA 6.944 5/15/2025 EUR 0.018
Barclays Bank PLC 2.000 06/12/2029 TRY 41.858
SG Issuer SA 0.263 2/20/2025 EUR 20.060
Top Gun Realisations 73 8.000 07/01/2023 GBP 1.387
Landesbank Baden-Wuertt 6.000 8/27/2021 EUR 66.420
Thomas Cook Group PLC 6.250 6/15/2022 EUR 0.845
Swissport Investments S 6.75012/15/2021 EUR 1.264
SAir Group 4.250 02/02/2007 CHF 12.625
Naviera Armas SA 6.500 7/31/2023 EUR 54.010
SG Issuer SA 0.820 08/02/2021 SEK 0.820
Air Berlin Finance BV 8.500 03/06/2019 EUR 0.635
New World Resources NV 8.000 04/07/2020 EUR 0.105
Hema Bondco II BV 8.500 1/15/2023 EUR 1.085
Sequa Petroleum NV 5.000 4/29/2020 USD 28.765
Kaupthing ehf 5.750 10/04/2011 USD 0.250
UkrLandFarming PLC 10.875 3/26/2018 USD 3.403
Skandinaviska Enskilda 7.880 1/16/2023 SEK 71.885
Otkritie Holding JSC 0.010 9/17/2027 RUB 1.820
SAir Group 0.125 07/07/2005 CHF 12.625
Intelsat SA 4.500 6/15/2025 USD 52.500
BOA Offshore AS 0.409 7/17/2047 NOK 7.546
Cooperatieve Rabobank U 0.50010/29/2027 MXN 65.704
Norske Skogindustrier A 7.12510/15/2033 USD 0.001
Mox Telecom AG 7.250 11/02/2017 EUR 1.354
Agrokor dd 9.875 05/01/2019 EUR 15.000
SAir Group 5.125 03/01/2003 CHF 12.500
Skandinaviska Enskilda 8.300 7/17/2023 SEK 56.520
Credit Suisse AG/London 20.00011/29/2024 USD 11.550
Agrokor dd 8.875 02/01/2020 USD 15.000
Lehman Brothers Treasur 1.000 10/05/2035 EUR 0.100
LBI ehf 7.431 USD 0.001
Northland Resources AB 4.00010/15/2020 NOK 0.271
Virgolino de Oliveira F 11.750 02/09/2022 USD 1.296
Getin Noble Bank SA 5.250 4/29/2024 PLN 64.990
Dolphin Drilling ASA 4.490 8/28/2019 NOK 0.644
Skandinaviska Enskilda 8.600 7/17/2023 SEK 57.050
Danske Bank A/S 8.050 07/09/2023 SEK 64.690
Derzhava-Garant OOO 7.250 06/12/2030 RUB 12.300
getgoods.de AG 7.750 10/02/2017 EUR 0.170
Stichting Afwikkeling O 8.450 8/20/2018 USD 2.976
Kaupthing ehf 6.125 10/04/2016 USD 0.250
Getin Noble Bank SA 4.750 5/31/2024 PLN 66.166
Thomas Cook Finance 2 P 3.875 7/15/2023 EUR 1.041
Bank Otkritie Financial 10.000 4/26/2019 USD 9.029
Lehman Brothers Treasur 0.215 11/02/2035 EUR 0.100
Windreich GmbH 6.500 7/15/2016 EUR 5.875
Landesbank Hessen-Thuer 7.50012/13/2024 EUR 0.100
Landesbank Hessen-Thuer 9.600 01/09/2023 EUR 0.100
LBI ehf 7.431 USD 0.001
O1 Properties Finance P 8.250 9/27/2021 USD 22.295
Portugal Telecom Intern 5.242 11/06/2017 EUR 0.694
UBS AG/London 12.250 5/31/2021 EUR 10.960
Getin Noble Bank SA 4.250 6/28/2024 PLN 68.000
Agrokor dd 9.125 02/01/2020 EUR 15.000
Espirito Santo Financia 5.05011/15/2025 EUR 1.243
Credit Suisse AG/London 6.500 4/30/2021 USD 3.380
Hellas Telecommunicatio 6.054 1/15/2015 USD 0.001
Norske Skog Holding AS 8.000 2/24/2023 USD 0.015
SAir Group 2.750 7/30/2004 CHF 12.625
Landesbank Baden-Wuertt 2.050 7/23/2021 EUR 68.360
Nordea Bank Abp 7.150 7/20/2024 SEK 72.740
Kardan NV 6.325 02/04/2021 ILS 9.570
Barclays Bank PLC 1.450 9/24/2038 MXN 34.748
SALVATOR Vermoegensverw 9.500 EUR 11.100
SALVATOR Vermoegensverw 9.50012/31/2021 EUR 8.250
Cooperatieve Rabobank U 0.500 8/21/2028 MXN 61.730
Moby SpA 7.750 2/15/2023 EUR 23.675
Centrosolar Group AG 7.000 2/15/2016 EUR 2.505
Bibby Offshore Services 7.500 6/15/2021 GBP 11.639
Landesbank Hessen-Thuer 4.000 3/20/2023 EUR 0.100
Grupo Isolux Corsan SA 0.25012/30/2018 EUR 0.318
Grupo Isolux Corsan SA 6.00012/30/2021 USD 0.813
Ideal Standard Internat 11.750 05/01/2018 EUR 0.050
Ahtium PLC 4.00012/16/2015 EUR 0.586
Lehman Brothers Treasur 2.875 3/14/2013 CHF 0.100
Getin Noble Bank SA 4.270 8/30/2024 PLN 66.817
UniCredit Bank AG 5.45011/21/2022 EUR 9.500
Skandinaviska Enskilda 6.000 1/17/2023 SEK 69.995
Bank Julius Baer & Co L 7.300 1/25/2021 EUR 62.750
Skandinaviska Enskilda 7.600 1/15/2024 SEK 73.510
Societe Generale SA 10.00012/30/2022 USD 58.670
Russian Post FGUP 2.750 12/06/2023 RUB 70.000
Credit Suisse AG 0.50012/16/2025 BRL 67.613
SAir Group 6.25010/27/2002 CHF 12.625
Solarwatt GmbH 7.000 11/01/2015 EUR 15.500
Top Gun Realisations 73 8.000 07/01/2023 GBP 1.387
Concern Rossium LLC 6.000 08/05/2030 RUB 100.020
City of Predeal Romania 2.500 5/15/2026 RON 60.000
DekaBank Deutsche Giroz 6.000 06/02/2021 EUR 56.170
NTRP Via Interpipe Ltd 10.250 08/02/2017 USD 30.500
HSBC Bank PLC 0.50012/22/2025 BRL 66.635
Kaupthing ehf 9.000 USD 0.122
Credit Agricole CIB Fin 0.39012/16/2032 EUR 54.196
Heta Asset Resolution A 4.87512/31/2023 EUR 2.078
SFO Akkord Finans 10.000 02/12/2024 RUB 61.540
Espirito Santo Financia 5.05011/15/2025 EUR 0.851
Landesbank Hessen-Thuer 8.60011/17/2022 EUR 60.420
Bank Julius Baer & Co L 10.000 6/21/2021 EUR 62.850
BNP Paribas SA 10.500 02/10/2021 USD 62.010
Societe Generale SA 17.000 1/17/2030 USD 56.100
Windreich GmbH 6.750 03/01/2015 EUR 5.875
AKB Peresvet ZAO 0.510 2/14/2032 RUB 12.500
Getin Noble Bank SA 5.280 7/28/2023 PLN 74.982
Agrokor dd Via Aquarius 4.921 08/08/2017 EUR 14.625
Eiendomskreditt AS 2.220 9/17/2029 NOK 68.373
KPNQwest NV 8.125 06/01/2009 USD 0.068
Zaklady Miesne Henryk K 5.460 3/29/2021 PLN
Societe Generale SA 6.000 05/09/2022 USD 2.230
Societe Generale SA 20.000 03/02/2022 USD 52.500
Bulgaria Steel Finance 12.000 05/04/2013 EUR 0.216
BRAbank ASA/NO 7.350 NOK 61.539
Getin Noble Bank SA 5.25012/21/2023 PLN 69.000
SG Issuer SA 2.70011/28/2034 ZAR 44.429
OOO SPV Structural Inve 0.010 09/01/2023 RUB 66.740
Deutsche Bank AG/London 0.50010/18/2038 MXN 16.046
Elli Investments Ltd 12.250 6/15/2020 GBP 51.823
Danske Bank A/S 7.470 07/09/2023 SEK 72.930
Erste Group Bank AG 7.00011/21/2023 EUR 21.100
Decipher Production Ltd 12.500 9/27/2019 USD 1.500
Otkritie Holding JSC 0.010 12/08/2027 RUB 1.900
Cooperativa Muratori & 6.875 08/01/2022 EUR 1.560
Instabank ASA 7.930 02/04/2030 NOK 73.638
Spoldzielczy Bank Rozwo 3.750 7/16/2025 PLN 75.000
Minicentrales Dos SA 0.010 06/06/2047 EUR 67.383
SAir Group 2.125 11/04/2004 CHF 12.625
Norske Skogindustrier A 7.12510/15/2033 USD 0.001
WEB Windenergie AG 2.250 9/25/2028 EUR 0.010
Societe Generale SA 17.000 03/03/2021 USD 43.100
Landesbank Baden-Wuertt 2.500 8/27/2021 EUR 63.010
Bayerische Landesbank 3.400 7/16/2021 EUR 67.210
Leonteq Securities AG 11.200 1/27/2021 USD 73.790
Landesbank Hessen-Thuer 7.300 02/07/2023 EUR 0.100
Landesbank Hessen-Thuer 6.900 1/30/2023 EUR
Northland Resources AB 4.00010/15/2020 USD 0.271
PA Resources AB 13.500 03/03/2016 SEK 0.124
Tonon Luxembourg SA 9.250 1/24/2020 USD 1.000
Gold-Zack AG 7.00012/14/2005 EUR 10.510
SAir Group 6.250 04/12/2005 CHF 12.625
Cooperatieve Rabobank U 0.50012/29/2027 MXN 64.963
Minicentrales Dos SA 0.010 06/06/2047 EUR 65.750
Natixis SA 0.300 6/25/2048 USD 51.735
Samaratransneft-Termina 17.000 6/20/2021 RUB 15.700
Mriya Agro Holding PLC 9.450 4/19/2018 USD 5.000
Landesbank Hessen-Thuer 5.200 01/11/2024 EUR 70.470
SG Issuer SA 2.98012/28/2021 EUR 60.190
Leonteq Securities AG/G 8.000 09/01/2021 CHF 71.320
SG Issuer SA 5.500 04/10/2021 EUR
Satra Forvaltnings AB 9.000 2/27/2021 SEK 65.000
Landesbank Hessen-Thuer 5.650 2/21/2023 EUR 0.100
Bank Julius Baer & Co L 10.100 1/25/2021 USD 56.550
Danske Bank A/S 6.860 07/09/2022 SEK 25.670
Nordea Bank Abp 7.430 1/20/2025 SEK 82.000
Landesbank Hessen-Thuer 8.450 1/24/2023 EUR 0.100
Corner Banca SA 16.400 03/02/2021 CHF 12.630
Phosphorus Holdco PLC 10.000 04/01/2019 GBP 0.612
ECM Real Estate Investm 5.000 10/09/2011 EUR 15.375
Heta Asset Resolution A 4.35012/31/2023 EUR 2.082
Nordea Bank Abp 5.813 7/20/2024 SEK 71.000
SG Issuer SA 10.400 2/23/2021 USD 3.040
WPE International Coope 10.375 9/30/2020 USD 5.706
Norske Skogindustrier A 2.00012/30/2115 EUR 0.113
Kaupthing ehf 6.125 10/04/2016 USD 0.250
Lehman Brothers Treasur 5.103 6/22/2046 EUR 0.100
Bibby Offshore Services 7.500 6/15/2021 GBP 11.639
DekaBank Deutsche Giroz 1.780 02/05/2021 EUR 62.860
Corner Banca SA 7.600 02/02/2021 CHF 68.640
Erste Group Bank AG 8.000 9/28/2023 EUR 0.300
WEB Windenergie AG 4.00012/17/2025 EUR 0.010
Skandinaviska Enskilda 6.500 1/15/2024 SEK 71.760
COFIDUR SA 0.10012/31/2024 EUR 24.050
New World Resources NV 4.000 10/07/2020 EUR 1.011
Societe Generale SA 8.00010/13/2021 USD 71.000
BRAbank ASA 7.380 NOK 56.110
KPNQwest NV 8.875 02/01/2008 EUR 0.068
Getin Noble Bank SA 4.250 7/26/2024 PLN 74.000
Getin Noble Bank SA 5.270 8/31/2023 PLN 69.997
BLT Finance BV 12.000 02/10/2015 USD 10.500
Norske Skogindustrier A 7.00012/30/2026 EUR 0.001
LBI ehf 6.100 8/25/2011 USD 8.625
Societe Generale SA 8.000 8/18/2021 USD 17.250
Landesbank Hessen-Thuer 5.200 01/08/2024 EUR 46.060
Societe Generale SA 4.890 2/16/2023 USD 55.340
Landesbank Hessen-Thuer 6.750 1/14/2025 EUR 72.170
Leonteq Securities AG/G 10.000 02/08/2021 USD 70.030
EFG International Finan 7.000 5/23/2022 EUR 47.750
Societe Generale SA 1.580 9/16/2024 USD 2.610
Leonteq Securities AG 6.400 5/25/2021 CHF 72.550
UniCredit Bank AG 10.500 5/19/2021 EUR 3.400
Landesbank Baden-Wuertt 3.500 2/26/2021 EUR 71.030
Raiffeisen Switzerland 4.800 6/14/2021 EUR 66.220
Credit Suisse AG/London 8.750 5/20/2021 GBP 60.960
Banque Cantonale Vaudoi 7.550 08/03/2021 CHF 73.230
Leonteq Securities AG 12.00010/18/2021 CHF 65.120
Leonteq Securities AG/G 2.750 9/15/2022 CHF 13.790
Petromena ASA 10.85011/19/2018 USD 0.622
Irish Bank Resolution C 6.75011/30/2013 BGN 33.250
BNP Paribas Issuance BV 6.550 3/28/2025 EUR 44.030
Polski Bank Spoldzielcz 3.760 9/14/2027 PLN 65.346
Lehman Brothers Treasur 5.100 05/08/2017 HKD 0.100
Getin Noble Bank SA 5.250 4/28/2023 PLN 74.732
Barclays Bank PLC 0.500 1/28/2033 MXN 38.461
Lehman Brothers Treasur 7.375 9/20/2008 EUR 0.100
UBS AG/London 7.250 02/08/2021 CHF 60.300
Societe Generale SA 12.000 2/17/2025 USD 57.200
Societe Generale SA 8.600 7/29/2022 USD 45.000
EFG International Finan 6.130 6/20/2024 EUR 3.000
Erste Group Bank AG 4.350 2/28/2022 EUR 52.300
Kancelaria Medius SA 5.770 03/07/2021 PLN 40.000
UBS AG/London 10.000 3/22/2021 EUR 43.450
UBS AG/London 12.500 7/19/2021 USD 70.250
Erste Group Bank AG 5.550 8/30/2022 EUR 52.650
Erste Group Bank AG 4.350 2/20/2022 EUR 52.750
getBACK SA 4.210 2/16/2021 PLN
BNP Paribas Emissions- 8.000 6/24/2021 EUR 66.340
Landesbank Baden-Wuertt 14.770 5/25/2021 EUR 6.110
Leonteq Securities AG 30.000 06/09/2021 CHF 15.200
EFG International Finan 5.600 07/11/2024 EUR 24.660
Landesbank Baden-Wuertt 8.150 02/04/2021 EUR 0.780
Credit Suisse AG/London 6.250 7/21/2022 CHF 73.550
SG Issuer SA 7.000 2/17/2021 EUR 72.310
UBS AG/London 13.500 7/15/2021 CHF 7.490
Leonteq Securities AG/G 25.000 2/18/2021 USD 6.120
Credit Suisse AG/London 10.000 1/25/2021 CHF 74.660
Credit Suisse AG/London 8.750 03/04/2021 EUR 65.710
RENE LEZARD Mode GmbH 7.25011/25/2017 EUR 1.500
Societe Generale SA 17.500 1/26/2023 USD 71.000
Societe Generale SA 10.000 12/02/2021 USD 58.300
Vontobel Financial Prod 0.154 06/10/2021 EUR 62.400
Astana Finance BV 7.875 06/08/2010 EUR 16.000
HSBC Bank PLC 0.50011/25/2025 BRL 67.165
Santander Consumer Bank 5.160 NOK 58.614
Rio Forte Investments S 3.900 07/10/2014 USD 5.500
Grupo Isolux Corsan SA 1.00012/30/2021 USD 0.318
Getin Noble Bank SA 5.260 04/04/2024 PLN 65.000
SG Issuer SA 7.600 2/22/2021 EUR 2.350
Erste Group Bank AG 7.200 9/30/2024 EUR 0.350
Banco Espirito Santo SA 10.000 12/06/2021 EUR 0.001
Lehman Brothers Treasur 6.000 6/21/2011 EUR 0.100
Lehman Brothers Treasur 2.000 3/16/2035 EUR 0.100
Getin Noble Bank SA 5.250 11/09/2023 PLN 70.814
Instabank ASA 7.500 NOK 41.146
Rio Forte Investments S 4.750 11/10/2015 EUR 5.500
Heta Asset Resolution A 0.21712/31/2023 EUR 2.078
Heta Asset Resolution A 5.92012/31/2023 EUR 2.078
AKB Peresvet ZAO 0.510 6/23/2021 RUB 19.020
Mriya Agro Holding PLC 9.450 4/19/2018 USD 5.000
Tonon Luxembourg SA 12.500 5/14/2024 USD 0.543
Hellas Telecommunicatio 8.50010/15/2013 EUR 0.540
Northland Resources AB 15.000 7/15/2019 USD 2.621
A-TEC Industries AG 5.750 11/02/2010 EUR 0.100
Bilt Paper BV 9.640 USD 0.876
Aralco Finance SA 10.125 05/07/2020 USD 0.934
Raiffeisen Schweiz Geno 11.500 2/18/2021 CHF 52.300
Leonteq Securities AG/G 6.400 11/03/2021 CHF 51.780
Societe Generale SA 6.000 06/06/2022 USD 4.570
Raiffeisen Centrobank A 5.000 9/20/2021 EUR 69.710
Leonteq Securities AG 7.400 03/04/2021 CHF 66.240
Raiffeisen Centrobank A 5.000 08/09/2021 EUR 67.960
Skandinaviska Enskilda 4.100 1/17/2022 SEK 73.650
Corner Banca SA 8.000 5/25/2021 CHF 57.180
Landesbank Hessen-Thuer 7.000 01/09/2023 EUR 59.140
SG Issuer SA 6.700 07/10/2024 EUR 71.960
Societe Generale SA 10.250 02/02/2023 USD 61.300
SG Issuer SA 2.200 01/10/2025 EUR 72.660
SG Issuer SA 6.650 10/10/2021 EUR
Concern Rossium LLC 6.250 12/11/2029 RUB 60.060
AKB Peresvet ZAO 13.000 10/07/2017 RUB 19.625
Windreich GmbH 6.250 03/01/2015 EUR 5.875
Bank Otkritie Financial 0.010 9/24/2025 RUB 72.780
Corner Banca SA 7.350 1/16/2023 CHF 67.710
Cooperativa Muratori & 6.000 2/15/2023 EUR 1.952
KPNQwest NV 7.125 06/01/2009 EUR 0.068
Bank Otkritie Financial 0.010 7/16/2025 RUB 73.140
Pescanova SA 6.750 03/05/2015 EUR 0.319
PSN Pm OOO 9.500 09/10/2026 RUB 21.625
Otkritie Holding JSC 0.010 10/03/2036 RUB 0.010
Privatbank CJSC Via UK 10.875 2/28/2018 USD 30.000
Getin Noble Bank SA 5.250 5/31/2023 PLN 69.255
Concern Rossium LLC 6.000 08/05/2030 RUB 100.020
Espirito Santo Financia 5.125 5/30/2016 EUR 1.527
Landesbank Baden-Wuertt 3.000 2/26/2021 EUR 66.570
Zurcher Kantonalbank Fi 7.750 7/23/2021 EUR 70.980
UBS AG/London 14.000 07/06/2021 USD 64.090
Citigroup Global Market 8.050 1/24/2023 EUR 62.930
BNP Paribas Emissions- 9.000 3/25/2021 EUR 66.090
Landesbank Baden-Wuertt 10.500 2/26/2021 EUR 68.230
Landesbank Baden-Wuertt 2.000 6/25/2021 EUR 70.010
WEB Windenergie AG 3.750 9/26/2026 EUR 0.010
WEB Windenergie AG 2.500 9/26/2021 EUR 0.010
UBS AG/London 14.000 6/28/2021 CHF 71.650
Deutsche Bank AG 3.800 02/04/2030 USD
Lehman Brothers Treasur 11.00012/20/2017 AUD 0.100
Santander Consumer Bank 5.160 NOK 59.205
Credito Padano Banca di 3.100 EUR 33.831
KPNQwest NV 8.875 02/01/2008 EUR 0.068
BNP Paribas SA 0.50011/16/2032 MXN 32.993
Kreditanstalt fuer Wied 0.250 10/06/2036 CAD 49.170
Lehman Brothers Treasur 6.650 8/24/2011 AUD 0.100
Landesbank Hessen-Thuer 0.650 10/01/2031 EUR 10.464
Raiffeisen Schweiz Geno 5.800 9/28/2021 CHF 57.900
Raiffeisen Schweiz Geno 6.250 04/01/2021 CHF 66.450
Landesbank Baden-Wuertt 3.00012/23/2022 EUR 64.450
Landesbank Baden-Wuertt 3.20012/23/2022 EUR 67.590
DekaBank Deutsche Giroz 4.000 4/23/2021 EUR 67.500
Corner Banca SA 6.200 10/05/2021 CHF 67.830
Landesbank Hessen-Thuer 3.600 08/12/2021 EUR 52.500
Citigroup Global Market 12.37911/13/2023 SEK 69.380
Corner Banca SA 8.600 10/12/2021 CHF 72.490
UniCredit Bank AG 4.00011/21/2022 EUR 65.560
Raiffeisen Schweiz Geno 5.700 10/12/2021 CHF 72.010
Landesbank Baden-Wuertt 3.500 1/28/2022 EUR 59.000
Landesbank Hessen-Thuer 6.35011/19/2024 EUR 62.820
Leonteq Securities AG 7.600 4/15/2021 CHF 70.860
Leonteq Securities AG/G 5.40010/19/2021 CHF 61.510
Landesbank Baden-Wuertt 3.500 7/23/2021 EUR 63.470
EFG International Finan 12.00010/19/2021 USD 50.840
DekaBank Deutsche Giroz 2.300 11/12/2021 EUR 61.150
BNP Paribas Issuance BV 6.310 07/05/2023 SEK 69.430
Landesbank Baden-Wuertt 3.25012/23/2022 EUR 63.700
Landesbank Baden-Wuertt 2.65012/23/2022 EUR 70.260
Landesbank Hessen-Thuer 2.000 6/13/2022 EUR 55.150
Natixis SA 3.150 06/08/2021 USD 70.870
Natixis SA 2.100 06/08/2021 EUR 59.180
Leonteq Securities AG 5.000 6/15/2021 CHF 57.570
Banque Cantonale Vaudoi 5.800 08/09/2021 CHF 60.720
Leonteq Securities AG 10.000 08/09/2021 CHF 62.230
Leonteq Securities AG 10.000 08/09/2021 CHF 66.010
Landesbank Baden-Wuertt 3.050 9/23/2022 EUR 69.020
Raiffeisen Schweiz Geno 7.500 02/09/2021 EUR 70.450
Raiffeisen Schweiz Geno 5.200 02/09/2021 CHF 66.600
Landesbank Hessen-Thuer 6.25012/13/2024 EUR 71.350
Raiffeisen Schweiz Geno 5.400 8/17/2022 CHF 71.470
Raiffeisen Schweiz Geno 7.800 2/14/2022 EUR 72.040
Raiffeisen Schweiz Geno 10.500 2/17/2021 CHF 73.410
Raiffeisen Schweiz Geno 7.500 5/14/2021 CHF 62.440
Zurcher Kantonalbank Fi 6.000 5/25/2021 CHF 69.010
Zurcher Kantonalbank Fi 6.000 5/25/2021 CHF 63.080
DZ Bank AG Deutsche Zen 8.250 3/24/2021 EUR 50.700
Zurcher Kantonalbank Fi 6.800 5/25/2021 EUR 66.460
Zurcher Kantonalbank Fi 6.000 5/25/2021 EUR 65.450
Credit Suisse AG/London 7.000 2/17/2021 CHF 65.930
Leonteq Securities AG/G 13.750 2/17/2021 EUR 3.280
Leonteq Securities AG/G 6.000 8/17/2022 CHF 73.310
Leonteq Securities AG/G 15.470 5/18/2021 CHF 7.620
DZ Bank AG Deutsche Zen 6.400 2/24/2021 EUR 67.010
UniCredit Bank AG 14.300 3/26/2021 EUR 71.000
UniCredit Bank AG 14.800 6/25/2021 EUR 72.010
UniCredit Bank AG 13.300 6/25/2021 EUR 73.710
UniCredit Bank AG 13.900 3/26/2021 EUR 73.380
Zurcher Kantonalbank Fi 6.000 5/27/2021 CHF 75.340
UniCredit Bank AG 12.200 6/25/2021 EUR 73.370
UniCredit Bank AG 13.800 3/26/2021 EUR 71.850
UniCredit Bank AG 12.200 6/25/2021 EUR 72.370
UniCredit Bank AG 18.300 3/26/2021 EUR 55.610
UniCredit Bank AG 17.600 6/25/2021 EUR 56.840
UniCredit Bank AG 12.900 3/26/2021 EUR 71.390
UniCredit Bank AG 14.200 3/26/2021 EUR 69.690
DZ Bank AG Deutsche Zen 10.800 2/26/2021 EUR 66.360
DZ Bank AG Deutsche Zen 13.100 3/26/2021 EUR 63.750
DZ Bank AG Deutsche Zen 7.000 6/25/2021 EUR 70.770
DZ Bank AG Deutsche Zen 9.000 6/25/2021 EUR 67.470
DZ Bank AG Deutsche Zen 11.300 6/25/2021 EUR 64.730
DZ Bank AG Deutsche Zen 10.700 2/26/2021 EUR 64.230
DZ Bank AG Deutsche Zen 13.400 3/26/2021 EUR 61.300
DZ Bank AG Deutsche Zen 7.000 6/25/2021 EUR 70.690
DZ Bank AG Deutsche Zen 9.300 6/25/2021 EUR 67.150
DZ Bank AG Deutsche Zen 11.700 6/25/2021 EUR 64.000
DZ Bank AG Deutsche Zen 8.000 2/26/2021 EUR 70.510
DZ Bank AG Deutsche Zen 10.200 6/25/2021 EUR 73.270
DZ Bank AG Deutsche Zen 11.800 3/26/2021 EUR 73.860
DZ Bank AG Deutsche Zen 10.700 2/26/2021 EUR 68.130
DZ Bank AG Deutsche Zen 13.400 2/26/2021 EUR 63.890
DZ Bank AG Deutsche Zen 7.400 6/25/2021 EUR 73.570
DZ Bank AG Deutsche Zen 9.200 6/25/2021 EUR 70.180
DZ Bank AG Deutsche Zen 11.200 6/25/2021 EUR 66.140
Credit Suisse AG/London 8.500 5/18/2021 EUR 60.760
Credit Suisse AG/London 7.500 8/13/2021 CHF 69.780
Zurcher Kantonalbank Fi 9.250 8/26/2021 CHF 52.980
Vontobel Financial Prod 12.000 3/26/2021 EUR 64.550
Raiffeisen Schweiz Geno 6.000 2/19/2021 EUR 61.000
UBS AG/London 11.000 2/19/2021 CHF 70.900
UBS AG/London 7.000 2/21/2022 EUR 62.750
UBS AG/London 5.500 8/19/2021 EUR 67.150
UBS AG/London 10.000 8/19/2021 CHF 69.700
UBS AG/London 6.500 8/19/2021 CHF 66.800
UBS AG/London 12.000 8/19/2021 CHF 13.580
UBS AG/London 5.750 8/20/2021 EUR 68.000
Zurcher Kantonalbank Fi 5.000 2/19/2021 EUR 70.410
Landesbank Hessen-Thuer 3.000 06/04/2021 EUR 71.400
Landesbank Hessen-Thuer 5.70011/24/2022 EUR 56.840
Landesbank Hessen-Thuer 4.000 06/04/2021 EUR 59.500
Landesbank Hessen-Thuer 4.000 2/17/2021 EUR 53.580
Landesbank Hessen-Thuer 4.000 2/17/2021 EUR 38.710
UniCredit Bank AG 3.850 2/14/2021 EUR 51.060
Landesbank Hessen-Thuer 6.700 5/17/2022 EUR 56.910
Landesbank Hessen-Thuer 6.600 2/17/2023 EUR 54.240
Landesbank Hessen-Thuer 4.350 2/24/2023 EUR 48.280
Landesbank Hessen-Thuer 5.300 9/23/2022 EUR 45.490
Raiffeisen Schweiz Geno 4.00012/15/2021 CHF 67.690
Landesbank Hessen-Thuer 5.150 6/14/2022 EUR 62.450
Landesbank Baden-Wuertt 2.300 7/23/2021 EUR 66.930
Landesbank Baden-Wuertt 3.500 7/23/2021 EUR 60.030
Landesbank Baden-Wuertt 2.200 7/23/2021 EUR 68.900
Skandinaviska Enskilda 9.020 7/17/2023 SEK 58.540
Credit Suisse AG/Nassau 7.000 6/22/2021 CHF 53.070
Vontobel Financial Prod 4.200 07/06/2021 EUR 67.320
SecurAsset SA 5.250 6/30/2022 EUR 48.700
Raiffeisen Schweiz Geno 4.00012/22/2021 CHF 67.680
SG Issuer SA 4.000 6/22/2026 EUR 45.450
Landesbank Baden-Wuertt 3.000 9/23/2022 EUR 60.690
Landesbank Baden-Wuertt 2.650 9/23/2022 EUR 67.020
Landesbank Hessen-Thuer 2.500 6/21/2021 EUR 68.500
Landesbank Hessen-Thuer 6.70010/13/2023 EUR 60.410
EFG International Finan 11.400 6/28/2021 USD 50.210
UBS AG/London 6.250 6/21/2021 CHF 53.800
SG Issuer SA 11.170 7/20/2025 SEK 50.350
Raiffeisen Schweiz Geno 5.00012/29/2021 CHF 67.670
Raiffeisen Schweiz Geno 4.10012/29/2021 CHF 67.400
Credit Suisse AG/Nassau 7.200 07/05/2021 CHF 56.940
UniCredit Bank AG 4.300 7/26/2022 EUR 60.230
UniCredit Bank AG 4.200 7/26/2022 EUR 38.370
UniCredit Bank AG 4.450 7/23/2022 EUR 59.700
UniCredit Bank AG 4.150 7/26/2022 EUR 55.120
UniCredit Bank AG 3.650 7/23/2022 EUR 62.130
UniCredit Bank AG 6.400 7/23/2021 EUR 74.860
Bayerische Landesbank 2.000 1/28/2022 EUR 64.820
Landesbank Baden-Wuertt 2.700 6/25/2021 EUR 59.470
Landesbank Baden-Wuertt 2.500 6/24/2022 EUR 61.960
EFG International Finan 7.00010/25/2021 EUR 70.540
Landesbank Hessen-Thuer 5.200 9/30/2022 EUR 46.500
Societe Generale SA 8.000 5/28/2027 USD 35.300
Landesbank Hessen-Thuer 5.500 5/25/2023 EUR 35.260
Leonteq Securities AG/G 5.000 08/02/2021 USD 67.380
UniCredit Bank AG 5.700 5/14/2021 EUR 47.880
Landesbank Hessen-Thuer 4.000 8/18/2021 EUR 44.320
UniCredit Bank AG 3.600 8/23/2021 EUR 42.210
Landesbank Hessen-Thuer 5.00011/25/2022 EUR 56.170
Raiffeisen Switzerland 10.500 07/11/2024 USD 18.660
Landesbank Hessen-Thuer 6.150 8/25/2022 EUR 57.620
DekaBank Deutsche Giroz 4.250 05/03/2022 EUR 63.910
UniCredit Bank AG 4.000 2/28/2022 EUR 62.000
SG Issuer SA 5.600 01/10/2023 EUR
UniCredit Bank AG 4.25011/21/2021 EUR 38.890
UniCredit Bank AG 4.20011/21/2021 EUR 64.230
Raiffeisen Switzerland 4.440 4/19/2021 EUR 59.600
Landesbank Hessen-Thuer 4.00011/24/2021 EUR 61.280
Landesbank Hessen-Thuer 4.700 2/24/2023 EUR 54.310
Landesbank Hessen-Thuer 5.000 02/10/2023 EUR 67.690
Raiffeisen Schweiz Geno 4.70010/20/2021 CHF 59.810
Landesbank Baden-Wuertt 4.00010/22/2021 EUR 47.210
Landesbank Baden-Wuertt 3.25010/22/2021 EUR 71.030
EFG International Finan 5.600 4/26/2021 CHF 57.930
Landesbank Hessen-Thuer 4.000 6/16/2022 EUR 54.810
UBS AG/London 11.000 3/15/2021 EUR 45.250
UBS AG/London 7.000 3/15/2021 EUR 53.000
Landesbank Baden-Wuertt 3.750 3/26/2021 EUR 45.380
Bayerische Landesbank 2.250 7/23/2021 EUR 56.040
Leonteq Securities AG/G 5.600 8/24/2021 CHF 51.230
DekaBank Deutsche Giroz 2.500 09/10/2021 EUR 72.770
EFG International Finan 6.500 8/30/2021 CHF 64.850
Zurcher Kantonalbank Fi 8.500 8/24/2021 CHF 64.580
Raiffeisen Schweiz Geno 5.250 8/24/2021 CHF 63.210
Landesbank Hessen-Thuer 5.800 9/24/2024 EUR 56.810
UniCredit Bank AG 8.40012/24/2021 EUR 70.280
UniCredit Bank AG 7.70012/24/2021 EUR 71.660
UniCredit Bank AG 9.200 6/25/2021 EUR 69.650
UniCredit Bank AG 12.100 6/25/2021 EUR 63.610
Zurcher Kantonalbank Fi 5.000 7/23/2021 EUR 68.050
UBS AG/London 14.250 7/19/2021 USD 59.730
Raiffeisen Schweiz Geno 5.250 07/05/2021 CHF 71.470
Raiffeisen Schweiz Geno 4.500 07/05/2021 CHF 63.800
Zurcher Kantonalbank Fi 5.750 7/16/2021 CHF 72.250
Landesbank Hessen-Thuer 4.000 08/09/2023 EUR 58.740
UniCredit Bank AG 7.800 6/25/2021 EUR 67.420
UniCredit Bank AG 10.700 6/25/2021 EUR 54.500
UniCredit Bank AG 10.100 6/25/2021 EUR 59.880
UniCredit Bank AG 9.700 6/25/2021 EUR 70.800
UniCredit Bank AG 10.900 6/25/2021 EUR 68.810
UniCredit Bank AG 11.300 6/25/2021 EUR 74.780
UniCredit Bank AG 12.500 6/25/2021 EUR 71.920
UniCredit Bank AG 11.100 6/25/2021 EUR 69.670
UniCredit Bank AG 6.400 6/25/2021 EUR 70.820
UniCredit Bank AG 9.300 6/25/2021 EUR 64.520
UniCredit Bank AG 6.500 6/25/2021 EUR 66.360
UniCredit Bank AG 7.500 6/25/2021 EUR 62.800
UniCredit Bank AG 11.800 6/25/2021 EUR 52.360
UniCredit Bank AG 8.500 6/25/2021 EUR 59.660
UniCredit Bank AG 9.600 6/25/2021 EUR 56.920
Skandinaviska Enskilda 7.800 7/15/2024 SEK 70.940
Skandinaviska Enskilda 6.500 7/15/2024 SEK 71.800
UniCredit Bank AG 8.10012/24/2021 EUR 67.680
UniCredit Bank AG 5.80012/24/2021 EUR 72.700
UniCredit Bank AG 5.50012/24/2021 EUR 70.650
UniCredit Bank AG 10.60012/24/2021 EUR 67.190
UniCredit Bank AG 9.40012/24/2021 EUR 71.750
UniCredit Bank AG 10.20012/24/2021 EUR 55.720
UniCredit Bank AG 8.50012/24/2021 EUR 59.160
UniCredit Bank AG 6.90012/24/2021 EUR 69.990
UniCredit Bank AG 7.70012/24/2021 EUR 61.320
UniCredit Bank AG 6.80012/24/2021 EUR 63.710
UniCredit Bank AG 6.00012/24/2021 EUR 66.520
UBS AG/London 6.500 07/12/2021 EUR 52.700
EFG International Finan 7.000 07/11/2022 CHF 73.170
Landesbank Hessen-Thuer 5.200 08/09/2024 EUR 69.370
Landesbank Hessen-Thuer 3.350 5/19/2021 EUR 61.400
Societe Generale Effekt 24.419 6/25/2021 EUR 71.840
Leonteq Securities AG/G 8.600 07/12/2021 EUR 52.210
Raiffeisen Schweiz Geno 7.100 07/12/2021 EUR 72.770
UniCredit Bank AG 5.40012/24/2021 EUR 58.290
Landesbank Baden-Wuertt 2.55012/27/2021 EUR 56.820
Landesbank Baden-Wuertt 2.50012/27/2021 EUR 49.990
Landesbank Hessen-Thuer 4.000 11/10/2021 EUR 37.610
Landesbank Hessen-Thuer 5.100 2/17/2023 EUR 51.240
Raiffeisen Schweiz Geno 8.800 03/01/2021 EUR 44.770
Landesbank Baden-Wuertt 3.700 9/24/2021 EUR 60.590
Landesbank Baden-Wuertt 3.000 3/26/2021 EUR 55.760
Landesbank Baden-Wuertt 5.500 3/26/2021 EUR 46.510
Landesbank Baden-Wuertt 2.500 3/26/2021 EUR 71.500
Landesbank Baden-Wuertt 2.500 3/26/2021 EUR 69.690
UniCredit Bank AG 10.20012/24/2021 EUR 66.140
UniCredit Bank AG 6.60012/24/2021 EUR 65.890
UniCredit Bank AG 10.000 6/25/2021 EUR 67.460
UniCredit Bank AG 9.100 6/25/2021 EUR 69.340
UniCredit Bank AG 10.100 6/25/2021 EUR 58.160
UniCredit Bank AG 5.400 6/25/2021 EUR 71.050
Zurcher Kantonalbank Fi 7.250 7/23/2021 USD 70.920
Zurcher Kantonalbank Fi 7.500 7/23/2021 CHF 70.930
Credit Suisse AG/London 4.500 07/12/2021 EUR 59.490
UBS AG/London 7.000 7/19/2021 CHF 53.000
Raiffeisen Switzerland 4.000 8/30/2022 CHF 46.360
Landesbank Baden-Wuertt 3.000 9/23/2022 EUR 55.890
Landesbank Baden-Wuertt 2.500 9/23/2022 EUR 68.920
Societe Generale Effekt 5.600 09/04/2023 EUR 44.550
Landesbank Hessen-Thuer 3.350 9/21/2022 EUR 60.280
UniCredit Bank AG 3.750 9/14/2022 EUR 68.640
SG Issuer SA 3.000 09/02/2021 EUR 41.400
DekaBank Deutsche Giroz 1.000 11/02/2021 EUR 56.300
SG Issuer SA 9.000 7/20/2023 SEK 72.670
UniCredit Bank AG 5.000 5/14/2021 EUR 61.340
Leonteq Securities AG 7.200 02/02/2021 EUR 56.900
Landesbank Hessen-Thuer 8.200 06/09/2022 EUR 70.490
Rosseti South PJSC 9.240 07/01/2022 RUB 70.020
Societe Generale SA 9.000 7/22/2022 USD 41.900
Societe Generale Effekt 3.000 7/22/2022 USD 9.450
UniCredit Bank AG 4.30010/18/2021 EUR 44.950
Landesbank Hessen-Thuer 5.70010/27/2022 EUR 60.190
UniCredit Bank AG 3.80010/24/2021 EUR 64.780
UniCredit Bank AG 4.05010/24/2021 EUR 50.760
Landesbank Hessen-Thuer 3.000 08/06/2021 EUR 36.900
UniCredit Bank AG 3.90010/24/2021 EUR 40.060
EFG International Finan 6.200 8/16/2021 CHF 71.220
UniCredit Bank AG 3.200 09/10/2022 EUR 57.090
Leonteq Securities AG 6.200 2/17/2021 CHF 59.950
Landesbank Hessen-Thuer 5.750 04/07/2022 EUR 70.570
UBS AG/London 6.500 02/08/2021 EUR 62.900
Leonteq Securities AG 6.000 8/17/2021 CHF 41.490
Leonteq Securities AG 5.000 2/17/2021 CHF 56.070
UniCredit Bank AG 9.10012/24/2021 EUR 68.200
UniCredit Bank AG 6.90012/24/2021 EUR 73.010
UniCredit Bank AG 7.50012/24/2021 EUR 63.520
UniCredit Bank AG 7.90012/24/2021 EUR 73.110
UniCredit Bank AG 8.00012/24/2021 EUR 70.490
UniCredit Bank AG 7.300 6/25/2021 EUR 73.540
UniCredit Bank AG 8.200 6/25/2021 EUR 71.370
UniCredit Bank AG 6.000 6/25/2021 EUR 55.880
UniCredit Bank AG 4.700 6/25/2021 EUR 59.730
UniCredit Bank AG 7.500 6/25/2021 EUR 52.680
UniCredit Bank AG 11.400 6/25/2021 EUR 73.450
UniCredit Bank AG 7.600 6/25/2021 EUR 63.750
UniCredit Bank AG 8.90012/24/2021 EUR 51.660
UniCredit Bank AG 4.40012/24/2021 EUR 61.660
UniCredit Bank AG 7.900 6/25/2021 EUR 73.250
UniCredit Bank AG 10.700 6/25/2021 EUR 66.480
UniCredit Bank AG 7.00012/24/2021 EUR 73.200
UniCredit Bank AG 4.35011/21/2021 EUR 48.450
Leonteq Securities AG/G 7.20010/27/2021 CHF 66.440
Landesbank Hessen-Thuer 6.450 2/24/2023 EUR 62.520
Leonteq Securities AG/G 3.600 03/01/2021 EUR 57.800
Landesbank Baden-Wuertt 4.500 3/26/2021 EUR 50.480
Landesbank Baden-Wuertt 5.000 3/26/2021 EUR 48.590
Landesbank Baden-Wuertt 4.500 3/26/2021 EUR 69.510
Landesbank Baden-Wuertt 3.000 3/26/2021 EUR 55.490
Landesbank Baden-Wuertt 3.500 3/26/2021 EUR 68.040
Landesbank Baden-Wuertt 3.500 3/26/2021 EUR 65.630
Landesbank Baden-Wuertt 6.000 3/26/2021 EUR 47.250
Landesbank Baden-Wuertt 3.500 3/26/2021 EUR 67.110
Landesbank Baden-Wuertt 3.000 3/26/2021 EUR 55.920
Landesbank Baden-Wuertt 2.500 3/26/2021 EUR 56.120
Landesbank Baden-Wuertt 4.500 3/26/2021 EUR 62.040
Landesbank Hessen-Thuer 2.000 3/29/2022 EUR 47.150
Landesbank Hessen-Thuer 5.45011/17/2022 EUR 66.740
UniCredit Bank AG 3.800 8/30/2023 EUR 48.550
Landesbank Hessen-Thuer 6.000 9/21/2023 EUR 55.540
DekaBank Deutsche Giroz 2.300 9/24/2021 EUR 54.180
Landesbank Hessen-Thuer 4.000 04/12/2023 EUR 61.990
Leonteq Securities AG/G 7.500 03/11/2021 CHF 63.290
UniCredit Bank AG 4.200 9/21/2022 EUR 52.110
Corner Banca SA 6.500 2/24/2021 CHF 71.390
DekaBank Deutsche Giroz 7.700 3/26/2021 EUR 67.170
UBS AG/London 8.000 03/01/2021 USD 53.380
BNP Paribas Emissions- 12.000 3/25/2021 EUR 2.260
Corner Banca SA 6.400 09/07/2021 CHF 65.600
Landesbank Hessen-Thuer 5.000 9/21/2023 EUR 64.310
DekaBank Deutsche Giroz 3.400 3/26/2021 EUR 65.720
Landesbank Hessen-Thuer 5.700 6/16/2022 EUR 60.110
Landesbank Hessen-Thuer 4.000 3/23/2022 EUR 50.370
Leonteq Securities AG/G 3.750 2/20/2023 CHF 43.910
EFG International Finan 6.400 03/08/2021 EUR 55.670
EFG International Finan 6.000 8/13/2021 CHF 62.470
Leonteq Securities AG/G 6.200 02/10/2021 CHF 44.430
Landesbank Baden-Wuertt 3.000 6/25/2021 EUR 64.640
SG Issuer SA 7.740 7/20/2025 SEK 62.780
Leonteq Securities AG/G 7.000 04/09/2021 EUR 59.650
Societe Generale Effekt 3.750 5/24/2021 EUR 41.280
SG Issuer SA 8.700 1/20/2025 SEK 55.720
Landesbank Hessen-Thuer 6.500 05/11/2023 EUR 64.900
Landesbank Hessen-Thuer 3.500 05/11/2022 EUR 60.180
Landesbank Hessen-Thuer 4.000 05/11/2022 EUR 55.780
Societe Generale SA 3.900 3/23/2022 USD 2.920
Landesbank Baden-Wuertt 2.75011/26/2021 EUR 59.850
Landesbank Baden-Wuertt 3.40011/26/2021 EUR 71.890
Corner Banca SA 19.000 03/09/2021 CHF 5.040
Leonteq Securities AG 15.000 03/09/2021 CHF 9.590
Leonteq Securities AG/G 17.000 03/09/2021 USD 11.150
DZ Bank AG Deutsche Zen 10.250 6/21/2021 EUR 5.110
Leonteq Securities AG/G 11.000 03/10/2021 EUR 1.640
UBS AG/London 9.500 9/13/2021 CHF 73.900
Landesbank Baden-Wuertt 2.700 3/26/2021 EUR 52.070
Landesbank Baden-Wuertt 4.500 3/26/2021 EUR 49.000
Landesbank Baden-Wuertt 6.500 3/26/2021 EUR 73.460
Landesbank Hessen-Thuer 4.000 3/17/2021 EUR 54.810
Landesbank Baden-Wuertt 3.500 8/27/2021 EUR 54.460
Landesbank Baden-Wuertt 3.000 6/25/2021 EUR 63.810
Landesbank Baden-Wuertt 2.150 8/27/2021 EUR 66.780
DekaBank Deutsche Giroz 8.150 2/26/2021 EUR 62.800
Landesbank Hessen-Thuer 6.000 03/10/2023 EUR 59.450
EFG International Finan 6.400 08/09/2021 CHF 61.010
Landesbank Baden-Wuertt 2.000 2/25/2022 EUR 73.210
Danske Bank A/S 5.300 7/15/2023 SEK 45.660
Erste Group Bank AG 4.75012/20/2021 EUR 64.150
SG Issuer SA 9.180 1/20/2025 SEK 57.110
DekaBank Deutsche Giroz 3.150 03/05/2021 EUR 37.480
Leonteq Securities AG/G 2.300 02/08/2023 CHF 42.330
UniCredit Bank AG 4.500 1/18/2022 EUR 45.650
UniCredit Bank AG 3.500 2/13/2023 EUR 45.790
Landesbank Baden-Wuertt 3.000 2/26/2021 EUR 49.290
Landesbank Baden-Wuertt 3.800 2/26/2021 EUR 45.920
Landesbank Baden-Wuertt 2.300 2/25/2022 EUR 62.850
Landesbank Baden-Wuertt 3.000 2/25/2022 EUR 72.860
UniCredit Bank AG 3.80012/29/2022 EUR 60.940
Landesbank Hessen-Thuer 4.000 01/05/2022 EUR 36.930
Landesbank Hessen-Thuer 5.900 03/09/2023 EUR 62.690
Landesbank Baden-Wuertt 2.800 4/25/2022 EUR 63.650
Leonteq Securities AG/G 7.000 02/12/2021 CHF 65.780
Landesbank Hessen-Thuer 1.830 3/15/2021 EUR 59.810
UniCredit Bank AG 6.400 03/05/2021 EUR 38.760
UniCredit Bank AG 5.100 03/05/2021 EUR 49.120
UniCredit Bank AG 4.650 03/05/2021 EUR 37.060
Landesbank Hessen-Thuer 7.600 03/09/2023 EUR 59.190
Landesbank Hessen-Thuer 5.550 3/16/2023 EUR 55.310
Landesbank Hessen-Thuer 8.900 3/16/2023 EUR 63.270
UniCredit Bank AG 5.600 4/16/2021 EUR 50.620
UniCredit Bank AG 3.750 4/19/2022 EUR 68.260
UniCredit Bank AG 3.80010/24/2021 EUR 64.150
Landesbank Hessen-Thuer 3.500 01/05/2022 EUR 54.430
Landesbank Hessen-Thuer 3.500 01/05/2022 EUR 57.090
Landesbank Hessen-Thuer 5.400 04/05/2023 EUR 44.460
DekaBank Deutsche Giroz 2.050 05/03/2021 EUR 59.570
Landesbank Baden-Wuertt 2.800 6/25/2021 EUR 64.230
Nordea Bank Abp 4.100 7/20/2023 SEK 51.500
Landesbank Hessen-Thuer 6.400 03/09/2023 EUR 57.850
EFG International Finan 7.000 2/21/2022 CHF 70.760
EFG International Finan 7.200 2/22/2021 CHF 16.820
Raiffeisen Switzerland 7.000 8/19/2021 EUR 71.560
EFG International Finan 8.620 8/24/2022 CHF 73.640
Raiffeisen Schweiz Geno 4.600 2/20/2023 CHF 70.520
Bank Julius Baer & Co L 8.100 2/23/2021 EUR 66.050
EFG International Finan 8.160 2/26/2025 EUR 72.180
Zurcher Kantonalbank Fi 24.500 6/22/2021 EUR 12.250
EFG International Finan 27.000 6/24/2021 EUR 13.590
DZ Bank AG Deutsche Zen 5.750 9/22/2021 EUR 73.670
UBS AG/London 9.350 12/07/2022 USD 9.950
Vontobel Financial Prod 25.000 3/26/2021 EUR
Vontobel Financial Prod 18.500 6/25/2021 EUR
Vontobel Financial Prod 10.700 3/26/2021 EUR
Vontobel Financial Prod 8.050 3/26/2021 EUR
Leonteq Securities AG/G 5.880 6/16/2021 EUR 57.640
Leonteq Securities AG/G 3.380 6/16/2021 USD 44.360
UniCredit Bank AG 4.500 03/12/2022 EUR 46.440
DekaBank Deutsche Giroz 3.900 4/25/2022 EUR 44.710
EFG International Finan 7.400 03/08/2021 CHF 67.840
UniCredit Bank AG 6.30010/16/2021 EUR 41.160
HSBC Trinkaus & Burkhar 5.000 10/07/2021 EUR 73.720
Goldman Sachs & Co Wert 13.000 3/24/2021 EUR 70.180
Landesbank Hessen-Thuer 5.750 08/03/2023 EUR 52.590
Landesbank Baden-Wuertt 3.500 7/23/2021 EUR 59.090
DekaBank Deutsche Giroz 2.550 7/30/2021 EUR 54.290
Leonteq Securities AG/G 6.200 7/27/2021 CHF 56.570
UniCredit Bank AG 3.500 8/24/2022 EUR 66.570
UniCredit Bank AG 4.100 8/24/2022 EUR 65.240
UniCredit Bank AG 5.350 8/24/2021 EUR 46.680
UniCredit Bank AG 4.200 8/24/2022 EUR 63.730
Leonteq Securities AG/G 26.000 5/28/2021 CHF 13.530
BNP Paribas Emissions- 10.000 3/25/2021 EUR 1.940
BNP Paribas Emissions- 9.000 6/24/2021 EUR 73.660
BNP Paribas Emissions- 5.500 3/25/2021 EUR 74.890
BNP Paribas Emissions- 8.000 3/25/2021 EUR 65.930
BNP Paribas Emissions- 7.500 6/24/2021 EUR 68.690
BNP Paribas Emissions- 9.000 6/24/2021 EUR 66.700
BNP Paribas Emissions- 8.500 6/24/2021 EUR 72.580
BNP Paribas Emissions- 11.000 3/25/2021 EUR 71.730
BNP Paribas Emissions- 8.500 3/25/2021 EUR 72.450
BNP Paribas Emissions- 17.000 6/24/2021 EUR
BNP Paribas Emissions- 6.000 3/25/2021 EUR 73.970
BNP Paribas Emissions- 8.500 3/25/2021 EUR 71.120
BNP Paribas Emissions- 8.000 3/25/2021 EUR 69.990
BNP Paribas Emissions- 10.000 3/25/2021 EUR 68.560
BNP Paribas Emissions- 7.500 6/24/2021 EUR 72.170
BNP Paribas Emissions- 8.500 6/24/2021 EUR 72.580
BNP Paribas Emissions- 12.000 3/25/2021 EUR 65.770
BNP Paribas Emissions- 10.000 6/24/2021 EUR 69.900
BNP Paribas Emissions- 15.000 3/25/2021 EUR 66.930
BNP Paribas Emissions- 10.000 6/24/2021 EUR 72.310
BNP Paribas Emissions- 9.500 6/24/2021 EUR 71.250
BNP Paribas Emissions- 11.000 6/24/2021 EUR 70.190
BNP Paribas Emissions- 12.000 6/24/2021 EUR 69.000
BNP Paribas Emissions- 13.000 6/24/2021 EUR 67.880
Landesbank Baden-Wuertt 3.00012/23/2022 EUR 59.610
DekaBank Deutsche Giroz 2.50010/24/2023 EUR 62.170
SG Issuer SA 8.120 7/20/2023 SEK 66.980
UniCredit Bank AG 4.500 10/05/2022 EUR 67.660
UniCredit Bank AG 3.600 10/05/2022 EUR 68.920
UniCredit Bank AG 3.850 10/05/2023 EUR 73.910
Leonteq Securities AG 22.300 6/15/2021 EUR 11.820
Vontobel Financial Prod 8.000 3/26/2021 EUR 73.580
Vontobel Financial Prod 4.000 06/09/2021 EUR 72.950
Landesbank Baden-Wuertt 4.750 8/27/2021 EUR 69.190
Landesbank Baden-Wuertt 6.250 8/27/2021 EUR 65.420
Landesbank Baden-Wuertt 3.750 8/27/2021 EUR 73.420
Landesbank Baden-Wuertt 6.500 8/27/2021 EUR 72.000
Landesbank Baden-Wuertt 8.000 8/27/2021 EUR 68.990
Landesbank Baden-Wuertt 2.750 8/27/2021 EUR 64.240
Landesbank Baden-Wuertt 4.000 8/27/2021 EUR 58.720
Landesbank Baden-Wuertt 5.000 8/27/2021 EUR 56.060
Landesbank Baden-Wuertt 5.750 8/27/2021 EUR 53.620
Landesbank Baden-Wuertt 3.500 8/27/2021 EUR 59.880
Landesbank Baden-Wuertt 6.250 8/27/2021 EUR 73.410
Landesbank Baden-Wuertt 5.250 8/27/2021 EUR 71.250
Landesbank Baden-Wuertt 4.000 8/27/2021 EUR 73.120
Landesbank Baden-Wuertt 5.000 8/27/2021 EUR 69.530
Landesbank Baden-Wuertt 4.750 8/27/2021 EUR 71.560
Landesbank Baden-Wuertt 2.500 8/27/2021 EUR 70.580
Landesbank Baden-Wuertt 3.750 8/27/2021 EUR 66.100
Landesbank Baden-Wuertt 4.500 8/27/2021 EUR 64.190
Landesbank Baden-Wuertt 2.750 8/27/2021 EUR 57.080
Landesbank Baden-Wuertt 3.500 8/27/2021 EUR 55.410
Landesbank Baden-Wuertt 5.000 8/27/2021 EUR 52.500
UBS AG/London 6.750 07/05/2021 CHF 52.050
Banque Cantonale Vaudoi 6.800 6/28/2021 CHF 52.240
EFG International Finan 8.200 07/04/2022 CHF 72.590
Zurcher Kantonalbank Fi 6.000 07/12/2021 CHF 73.170
Leonteq Securities AG 8.600 07/05/2021 CHF 72.610
Landesbank Hessen-Thuer 4.00012/21/2022 EUR 65.650
TransKomplektHolding OO 9.500 11/02/2028 RUB 70.000
Landesbank Baden-Wuertt 3.400 1/27/2023 EUR 63.000
SG Issuer SA 5.000 5/23/2024 EUR 61.640
SG Issuer SA 5.000 04/02/2024 EUR 60.760
UniCredit Bank AG 5.150 01/02/2023 EUR 62.810
Landesbank Baden-Wuertt 4.00012/27/2021 EUR 58.990
DekaBank Deutsche Giroz 2.150 1/21/2022 EUR 69.810
SG Issuer SA 2.98012/28/2021 USD 59.800
DekaBank Deutsche Giroz 6.000 06/11/2021 EUR 47.930
UBS AG/London 6.500 6/28/2021 EUR 52.850
Raiffeisen Schweiz Geno 6.700 3/15/2021 EUR 58.320
Societe Generale Effekt 12.250 2/26/2021 EUR 74.090
Citigroup Global Market 12.900 07/01/2021 EUR 4.640
Corner Banca SA 14.200 8/24/2021 USD 10.060
Landesbank Baden-Wuertt 4.500 2/26/2021 EUR 67.430
Landesbank Baden-Wuertt 3.500 2/26/2021 EUR 69.330
Landesbank Baden-Wuertt 4.250 2/26/2021 EUR 62.820
Landesbank Baden-Wuertt 6.500 2/26/2021 EUR 67.610
Credit Suisse AG/London 7.000 8/25/2021 EUR 67.650
DZ Bank AG Deutsche Zen 7.000 3/26/2021 EUR 73.920
DZ Bank AG Deutsche Zen 10.700 3/26/2021 EUR 69.980
DZ Bank AG Deutsche Zen 7.750 3/24/2021 EUR 70.120
DZ Bank AG Deutsche Zen 3.900 3/26/2021 EUR 74.390
DZ Bank AG Deutsche Zen 7.200 3/26/2021 EUR 69.640
DZ Bank AG Deutsche Zen 8.800 3/26/2021 EUR 71.120
DZ Bank AG Deutsche Zen 12.800 3/26/2021 EUR 69.900
DZ Bank AG Deutsche Zen 6.500 3/22/2021 EUR 72.230
DZ Bank AG Deutsche Zen 5.700 3/22/2021 EUR 73.670
DZ Bank AG Deutsche Zen 7.300 3/22/2021 EUR 70.730
DZ Bank AG Deutsche Zen 3.300 6/21/2021 EUR 73.350
DZ Bank AG Deutsche Zen 4.300 6/21/2021 EUR 71.430
DZ Bank AG Deutsche Zen 3.800 3/22/2021 EUR 73.430
UBS AG/London 12.750 2/26/2021 CHF 68.000
UBS AG/London 12.000 2/26/2021 EUR 67.200
Leonteq Securities AG 7.200 9/22/2021 CHF 54.130
Leonteq Securities AG 7.000 9/22/2021 CHF 70.690
Finca Uco Cjsc 6.000 2/25/2022 USD 25.610
Leonteq Securities AG/G 6.000 06/08/2021 USD 42.030
Leonteq Securities AG/G 5.800 3/29/2021 CHF 52.690
Societe Generale SA 21.000 4/27/2022 USD 52.750
Citigroup Global Market 8.200 3/21/2024 SEK 64.860
Vontobel Financial Prod 19.500 3/26/2021 EUR 72.370
Vontobel Financial Prod 18.000 6/25/2021 EUR 73.000
Landesbank Hessen-Thuer 3.000 05/03/2022 EUR 54.600
Bank Julius Baer & Co L 9.000 2/23/2021 EUR 72.100
Landesbank Baden-Wuertt 3.000 2/26/2021 EUR 72.680
Landesbank Baden-Wuertt 3.800 3/26/2021 EUR 73.070
Landesbank Baden-Wuertt 2.500 2/26/2021 EUR 40.410
Landesbank Baden-Wuertt 4.300 2/26/2021 EUR 59.730
EFG International Finan 4.700 2/24/2023 USD 69.800
Credit Suisse AG/London 6.000 8/22/2022 CHF 66.930
Leonteq Securities AG/G 4.000 2/21/2022 EUR 68.110
Raiffeisen Schweiz Geno 10.170 2/24/2021 CHF 2.350
DZ Bank AG Deutsche Zen 7.200 3/24/2021 EUR 69.900
DZ Bank AG Deutsche Zen 4.200 3/24/2021 EUR 73.980
SG Issuer SA 1.750 2/22/2021 EUR 59.650
Skandinaviska Enskilda 6.800 1/15/2024 SEK 70.510
Vontobel Financial Prod 5.000 4/13/2021 EUR 53.910
EFG International Finan 7.000 3/21/2022 CHF 72.710
Vontobel Financial Prod 11.500 9/24/2021 EUR 72.550
Landesbank Hessen-Thuer 5.250 5/15/2025 EUR 68.760
Landesbank Hessen-Thuer 6.100 4/26/2024 EUR 69.820
Zurcher Kantonalbank Fi 8.000 04/09/2021 EUR 53.060
Landesbank Hessen-Thuer 6.300 8/31/2023 EUR 69.220
Norddeutsche Landesbank 2.500 3/15/2021 EUR 51.250
Landesbank Baden-Wuertt 2.600 9/23/2022 EUR 69.130
Araratbank OJSC 5.250 09/11/2022 USD 24.710
Landesbank Hessen-Thuer 4.000 8/31/2022 EUR 50.000
Landesbank Hessen-Thuer 6.200 6/17/2022 EUR 52.850
Leonteq Securities AG/G 4.000 08/10/2022 CHF 60.880
DekaBank Deutsche Giroz 5.500 2/26/2021 EUR 42.830
BNP Paribas Emissions- 16.000 3/25/2021 EUR 2.950
SG Issuer SA 0.263 4/16/2025 EUR 28.420
UBS AG/London 6.500 08/02/2021 CHF 65.250
EFG International Finan 11.000 02/02/2021 EUR 69.980
EFG International Finan 6.200 08/05/2022 EUR 67.430
EFG International Finan 11.500 08/02/2021 USD 55.970
Leonteq Securities AG 8.000 08/05/2021 CHF 59.570
SG Issuer SA 9.500 07/12/2021 EUR 62.370
Raiffeisen Centrobank A 6.750 09/07/2021 EUR 73.250
BNP Paribas Issuance BV 18.000 8/13/2029 EUR 69.970
EFG International Finan 9.000 08/09/2021 USD 70.930
EFG International Finan 9.800 08/09/2021 USD 74.230
Bayerische Landesbank 3.000 03/12/2021 EUR 50.320
UniCredit Bank AG 8.200 6/25/2021 EUR 62.500
UniCredit Bank AG 9.00012/27/2021 EUR 62.330
UniCredit Bank AG 6.00012/27/2021 EUR 70.050
Landesbank Hessen-Thuer 4.000 3/15/2023 EUR 73.560
DZ Bank AG Deutsche Zen 5.550 3/24/2021 EUR 51.240
DZ Bank AG Deutsche Zen 6.500 3/24/2021 EUR 48.280
UniCredit Bank AG 4.200 03/01/2023 EUR 66.520
SG Issuer SA 10.58012/27/2022 EUR 72.590
Skandinaviska Enskilda 5.850 1/17/2022 SEK 74.100
Societe Generale SA 8.000 03/02/2021 USD 64.830
Landesbank Baden-Wuertt 4.700 3/25/2022 EUR 50.060
Landesbank Baden-Wuertt 3.300 3/25/2022 EUR 56.630
Corner Banca SA 6.000 2/15/2021 CHF 54.850
Leonteq Securities AG/G 7.800 2/16/2021 USD 1.910
Raiffeisen Switzerland 8.250 2/15/2021 CHF 5.560
Leonteq Securities AG/G 4.900 2/16/2021 CHF 1.190
DekaBank Deutsche Giroz 2.750 3/18/2022 EUR 72.350
DekaBank Deutsche Giroz 2.700 3/19/2021 EUR 55.700
Leonteq Securities AG/G 5.850 2/22/2021 USD 60.170
EFG International Finan 10.000 2/25/2021 USD 66.350
UniCredit Bank AG 5.450 3/15/2022 EUR 52.060
Bayerische Landesbank 2.500 04/01/2021 EUR 55.440
Raiffeisen Schweiz Geno 5.750 2/25/2021 CHF 69.700
UniCredit Bank AG 4.400 3/26/2021 EUR 39.120
UniCredit Bank AG 3.250 3/29/2022 EUR 19.880
UniCredit Bank AG 3.750 3/26/2022 EUR 63.190
DekaBank Deutsche Giroz 4.250 4/14/2022 EUR 43.100
Societe Generale Effekt 6.100 04/03/2023 EUR 52.030
DekaBank Deutsche Giroz 2.300 4/16/2021 EUR 54.490
Credit Suisse AG/London 9.600 1/25/2021 EUR 68.820
EFG International Finan 7.200 7/25/2022 CHF 70.320
UBS AG/London 7.000 7/26/2021 EUR 57.450
UBS AG/London 13.750 7/26/2021 USD 69.750
EFG International Finan 10.000 7/26/2021 EUR 61.550
Nordea Bank Abp 6.063 7/20/2024 SEK 71.350
DekaBank Deutsche Giroz 3.400 09/04/2023 EUR 64.770
Raiffeisen Switzerland 5.500 7/26/2021 EUR 54.200
EFG International Finan 11.500 08/02/2021 USD 58.400
Leonteq Securities AG/G 10.600 7/26/2021 USD 61.520
Raiffeisen Schweiz Geno 7.000 7/26/2021 AUD 67.630
Zurcher Kantonalbank Fi 9.000 7/30/2021 EUR 62.210
Leonteq Securities AG/G 11.400 9/20/2021 CHF 8.760
Leonteq Securities AG 3.800 2/15/2021 CHF 21.650
EFG International Finan 7.000 2/15/2021 CHF 53.450
Raiffeisen Schweiz Geno 5.250 02/09/2021 CHF 43.420
Landesbank Hessen-Thuer 3.500 03/09/2022 EUR 53.150
getBACK SA 4.210 4/30/2021 PLN
SG Issuer SA 4.000 08/02/2021 EUR 66.960
Landesbank Baden-Wuertt 2.750 3/25/2022 EUR 61.040
Landesbank Baden-Wuertt 2.500 3/25/2022 EUR 69.240
Leonteq Securities AG/G 4.200 06/01/2021 CHF 26.660
Landesbank Baden-Wuertt 3.100 2/25/2022 EUR 52.450
Landesbank Hessen-Thuer 4.00012/22/2021 EUR 63.000
Raiffeisen Switzerland 4.80011/23/2023 CHF 42.130
Landesbank Hessen-Thuer 6.25012/22/2022 EUR 52.020
UniCredit Bank AG 4.45012/29/2022 EUR 39.970
UniCredit Bank AG 4.30012/19/2021 EUR 62.510
UniCredit Bank AG 4.70012/19/2021 EUR 37.610
Landesbank Hessen-Thuer 4.400 01/05/2023 EUR 50.300
SG Issuer SA 7.500 1/20/2025 SEK 52.240
Skandinaviska Enskilda 10.360 7/17/2023 SEK 63.980
Landesbank Hessen-Thuer 3.600 7/27/2022 EUR 65.290
Zaklady Miesne Henryk K 5.460 3/29/2021 PLN
Landesbank Hessen-Thuer 4.000 08/03/2022 EUR 57.670
Raiffeisen Schweiz Geno 4.000 01/06/2022 CHF 68.330
Natixis SA 2.500 07/12/2021 EUR 53.180
Landesbank Hessen-Thuer 7.500 11/03/2023 EUR 56.860
Leonteq Securities AG 7.600 7/13/2021 CHF 59.240
Leonteq Securities AG 8.000 7/19/2021 CHF 63.800
SG Issuer SA 4.000 7/20/2021 SEK 71.000
UniCredit Bank AG 3.750 8/23/2021 EUR 42.550
Landesbank Hessen-Thuer 6.000 12/01/2022 EUR 59.260
Landesbank Baden-Wuertt 2.600 9/24/2021 EUR 61.450
Landesbank Hessen-Thuer 3.500 09/08/2022 EUR 65.590
Landesbank Hessen-Thuer 4.000 03/08/2021 EUR 69.100
DekaBank Deutsche Giroz 3.000 8/27/2021 EUR 45.420
Leonteq Securities AG/G 7.500 02/12/2021 CHF 64.190
UniCredit Bank AG 4.000 3/13/2022 EUR 40.200
EFG International Finan 7.200 1/25/2021 EUR 51.580
UniCredit Bank AG 4.200 02/12/2021 EUR 38.200
UniCredit Bank AG 4.400 02/12/2021 EUR 48.010
UniCredit Bank AG 5.900 02/12/2021 EUR 41.670
Landesbank Baden-Wuertt 3.000 3/26/2021 EUR 50.070
UniCredit Bank AG 4.130 2/13/2022 EUR 41.310
EFG International Finan 8.000 02/01/2021 CHF 65.930
Landesbank Hessen-Thuer 6.500 2/16/2023 EUR 48.480
DekaBank Deutsche Giroz 2.800 02/12/2021 EUR 44.580
Societe Generale SA 4.50012/30/2024 USD 61.420
Societe Generale SA 4.50012/29/2022 USD 8.500
EFG International Finan 7.000 02/08/2021 CHF 63.170
SG Issuer SA 7.600 1/20/2025 SEK 53.810
UniCredit Bank AG 4.600 9/14/2022 EUR 56.720
UniCredit Bank AG 4.250 9/14/2022 EUR 69.080
UniCredit Bank AG 3.700 9/14/2022 EUR 61.190
EFG International Finan 7.200 02/08/2021 EUR 54.070
UniCredit Bank AG 4.200 2/19/2022 EUR 42.410
EFG International Finan 7.800 2/15/2021 EUR 39.450
EFG International Finan 7.400 1/25/2021 CHF 66.590
Societe Generale SA 4.50012/29/2022 USD 0.170
Leonteq Securities AG 21.800 6/25/2021 CHF 11.200
Citigroup Global Market 7.200 5/24/2023 SEK 56.240
Landesbank Hessen-Thuer 4.000 6/22/2022 EUR 48.930
UniCredit Bank AG 6.600 7/20/2028 EUR 32.050
Leonteq Securities AG/G 5.500 5/25/2021 CHF 55.210
Landesbank Hessen-Thuer 4.000 07/07/2021 EUR 49.210
UniCredit Bank AG 5.500 07/09/2021 EUR 36.020
DekaBank Deutsche Giroz 3.000 6/21/2021 EUR 38.660
Citigroup Global Market 7.000 6/16/2022 SEK 72.660
Landesbank Hessen-Thuer 6.800 7/14/2022 EUR 64.840
UniCredit Bank AG 3.600 7/18/2021 EUR 39.120
Landesbank Hessen-Thuer 3.00010/20/2022 EUR 64.890
Landesbank Hessen-Thuer 7.00010/20/2022 EUR 51.520
Raiffeisen Schweiz Geno 6.000 09/02/2022 CHF 72.580
Landesbank Baden-Wuertt 4.750 2/25/2022 EUR 51.100
Landesbank Baden-Wuertt 2.600 2/25/2022 EUR 63.720
Landesbank Baden-Wuertt 2.200 2/25/2022 EUR 69.610
Landesbank Baden-Wuertt 3.500 2/25/2022 EUR 65.580
Landesbank Baden-Wuertt 5.700 2/25/2022 EUR 66.550
Leonteq Securities AG 14.500 06/03/2021 CHF 73.840
Landesbank Hessen-Thuer 4.000 03/01/2023 EUR 60.650
Leonteq Securities AG/G 4.000 03/03/2022 EUR 24.380
Landesbank Baden-Wuertt 5.810 3/26/2021 EUR 72.200
UBS AG/London 7.500 09/06/2021 CHF 72.400
Bank Julius Baer & Co L 12.800 03/04/2021 CHF 56.450
Landesbank Baden-Wuertt 6.400 2/25/2022 EUR 72.590
Landesbank Baden-Wuertt 3.500 8/27/2021 EUR 59.950
Landesbank Baden-Wuertt 3.400 2/25/2022 EUR 57.920
Landesbank Baden-Wuertt 2.300 2/25/2022 EUR 73.190
Landesbank Baden-Wuertt 5.300 2/25/2022 EUR 73.980
Landesbank Baden-Wuertt 1.200 2/25/2022 EUR 67.600
Landesbank Baden-Wuertt 3.700 2/25/2022 EUR 61.520
Landesbank Baden-Wuertt 5.100 2/25/2022 EUR 62.260
Landesbank Baden-Wuertt 1.900 2/25/2022 EUR 72.040
Landesbank Baden-Wuertt 3.100 2/25/2022 EUR 68.870
Landesbank Baden-Wuertt 4.500 2/25/2022 EUR 69.980
Societe Generale Effekt 17.500 2/26/2021 EUR
UniCredit Bank AG 5.350 2/27/2023 EUR 57.050
UBS AG/London 8.000 03/04/2022 EUR 69.400
UBS AG/London 8.500 09/06/2021 CHF 66.500
UBS AG/London 12.250 8/26/2021 CHF 71.650
UBS AG/London 10.000 8/26/2021 EUR 70.250
Credit Suisse AG/London 8.000 5/24/2021 EUR 67.620
Leonteq Securities AG 5.000 2/27/2024 CHF 71.330
EFG International Finan 6.400 5/24/2021 EUR 59.770
UBS AG/London 11.160 03/01/2021 CHF 68.750
Credit Suisse AG/London 6.000 8/24/2022 CHF 69.790
Societe Generale SA 9.640 1/28/2021 USD 48.700
Landesbank Baden-Wuertt 12.550 2/26/2021 EUR 64.400
Bank Julius Baer & Co L 10.400 2/26/2021 CHF 51.250
Landesbank Baden-Wuertt 4.800 2/25/2022 EUR 50.490
Vontobel Financial Prod 20.000 3/26/2021 EUR 74.660
Landesbank Hessen-Thuer 6.150 03/11/2025 EUR 66.960
UBS AG/London 3.000 3/25/2021 EUR 60.000
UBS AG/London 15.600 3/25/2021 EUR 64.430
UBS AG/London 4.400 3/25/2021 EUR 60.940
UBS AG/London 5.000 3/25/2021 EUR 67.330
BNP Paribas Emissions- 7.000 3/25/2021 EUR 74.040
BNP Paribas Emissions- 10.000 3/25/2021 EUR 68.980
UBS AG/London 11.000 3/25/2021 EUR 67.480
UBS AG/London 5.600 3/25/2021 EUR 70.590
BNP Paribas Emissions- 11.000 3/25/2021 EUR 73.380
BNP Paribas Emissions- 6.000 6/24/2021 EUR 70.170
BNP Paribas Emissions- 7.000 6/24/2021 EUR 67.720
BNP Paribas Emissions- 11.000 6/24/2021 EUR 71.260
BNP Paribas Emissions- 14.000 6/24/2021 EUR 68.160
BNP Paribas Emissions- 9.000 6/24/2021 EUR 59.700
BNP Paribas Emissions- 6.500 3/25/2021 EUR 68.370
BNP Paribas Emissions- 11.000 3/25/2021 EUR 63.940
BNP Paribas Emissions- 11.000 6/24/2021 EUR 65.110
BNP Paribas Emissions- 12.000 6/24/2021 EUR 70.700
BNP Paribas Emissions- 9.000 3/25/2021 EUR 67.640
BNP Paribas Emissions- 9.500 6/24/2021 EUR 72.980
BNP Paribas Emissions- 9.000 6/24/2021 EUR 71.900
BNP Paribas Emissions- 8.000 3/25/2021 EUR 71.690
BNP Paribas Emissions- 9.500 3/25/2021 EUR 68.610
BNP Paribas Emissions- 12.000 3/25/2021 EUR 64.570
DZ Bank AG Deutsche Zen 4.750 3/22/2021 EUR 65.880
UBS AG/London 6.500 2/28/2022 CHF 73.250
Bank Julius Baer & Co L 9.500 8/26/2021 CHF 59.300
Zurcher Kantonalbank Fi 9.450 2/26/2021 CHF 69.020
DekaBank Deutsche Giroz 3.200 2/25/2022 EUR 72.020
Credit Suisse AG/London 7.500 5/25/2021 CHF 67.270
Zurcher Kantonalbank Fi 10.000 03/05/2021 CHF 66.070
UniCredit Bank AG 6.000 2/22/2022 EUR 69.230
Landesbank Baden-Wuertt 9.690 2/26/2021 EUR 58.470
Erste Group Bank AG 9.250 3/31/2025 EUR 0.550
Vontobel Financial Prod 8.200 03/01/2021 EUR 71.220
UBS AG/London 7.100 9/23/2021 EUR 63.800
UBS AG/London 4.900 3/25/2021 EUR 73.600
BNP Paribas Emissions- 13.000 3/25/2021 EUR 70.870
BNP Paribas Emissions- 6.000 3/25/2021 EUR 73.890
BNP Paribas Emissions- 8.000 3/25/2021 EUR 71.330
BNP Paribas Emissions- 19.000 3/25/2021 EUR 3.260
BNP Paribas Emissions- 10.000 6/24/2021 EUR
UBS AG/London 11.800 6/24/2021 EUR 58.230
BNP Paribas Emissions- 12.000 3/25/2021 EUR 69.070
UBS AG/London 13.900 6/24/2021 EUR 70.860
BNP Paribas Emissions- 13.000 3/25/2021 EUR 71.890
BNP Paribas Emissions- 16.000 6/24/2021 EUR 68.900
BNP Paribas Emissions- 13.000 6/24/2021 EUR 72.340
BNP Paribas Emissions- 10.000 3/25/2021 EUR 73.410
BNP Paribas Emissions- 9.000 3/25/2021 EUR 62.960
Landesbank Hessen-Thuer 4.000 06/08/2022 EUR 42.990
Landesbank Hessen-Thuer 7.250 06/08/2023 EUR 68.270
Landesbank Hessen-Thuer 5.500 06/08/2023 EUR 70.720
Landesbank Hessen-Thuer 4.000 06/08/2022 EUR 51.300
Landesbank Baden-Wuertt 2.300 7/22/2022 EUR 62.700
Vontobel Financial Prod 6.500 3/26/2021 EUR 62.530
UBS AG/London 12.200 3/25/2021 EUR 67.950
Leonteq Securities AG 14.530 3/18/2021 CHF 20.450
EFG International Finan 7.400 3/22/2021 CHF 68.760
EFG International Finan 6.800 3/22/2021 EUR 57.570
Natixis SA 2.750 03/01/2021 USD 47.110
EFG International Finan 6.800 3/29/2021 CHF 65.000
EFG International Finan 7.400 3/29/2021 EUR 56.440
Landesbank Baden-Wuertt 3.650 6/25/2021 EUR 60.880
Leonteq Securities AG 7.200 09/08/2021 CHF 55.080
Leonteq Securities AG/G 8.000 09/08/2021 EUR 68.510
DekaBank Deutsche Giroz 3.100 04/08/2022 EUR 48.620
Leonteq Securities AG/G 4.000 03/08/2022 EUR 62.040
Goldman Sachs & Co Wert 13.000 3/24/2021 EUR 69.940
DekaBank Deutsche Giroz 3.300 04/08/2022 EUR 51.430
UBS AG/London 8.000 3/15/2021 EUR 48.400
UBS AG/London 8.000 3/15/2021 CHF 69.950
UBS AG/London 10.000 3/15/2021 EUR 72.500
DekaBank Deutsche Giroz 6.300 10/01/2021 EUR 54.420
Landesbank Baden-Wuertt 2.55011/26/2021 EUR 66.070
UniCredit Bank AG 4.000 06/07/2022 EUR 41.000
Leonteq Securities AG/G 5.600 5/25/2021 CHF 38.290
UniCredit Bank AG 3.700 06/04/2022 EUR 65.390
Leonteq Securities AG 5.600 5/16/2022 CHF 59.650
Landesbank Baden-Wuertt 2.100 8/27/2021 EUR 54.010
Landesbank Hessen-Thuer 5.350 9/22/2023 EUR 36.400
SG Issuer SA 3.100 5/18/2028 EUR 71.920
Landesbank Baden-Wuertt 2.200 6/25/2021 EUR 64.530
Landesbank Baden-Wuertt 3.550 6/25/2021 EUR 53.510
Landesbank Baden-Wuertt 2.250 6/25/2021 EUR 69.490
EFG International Finan 7.000 06/08/2021 EUR 51.620
EFG International Finan 5.550 07/12/2021 USD 4.170
DekaBank Deutsche Giroz 3.250 06/08/2021 EUR 56.270
Bayerische Landesbank 2.30011/26/2021 EUR 60.780
UniCredit Bank AG 5.400 06/04/2021 EUR 50.580
UniCredit Bank AG 5.000 06/11/2021 EUR 62.960
UniCredit Bank AG 4.650 06/04/2022 EUR 69.030
Leonteq Securities AG 7.800 5/14/2021 CHF 17.340
Leonteq Securities AG 6.800 05/11/2021 EUR 53.980
UniCredit Bank AG 3.350 6/14/2022 EUR 57.270
Leonteq Securities AG 6.200 06/08/2021 CHF 53.700
UniCredit Bank AG 4.300 6/28/2022 EUR 62.640
UniCredit Bank AG 3.800 6/28/2022 EUR 64.050
UniCredit Bank AG 4.250 6/28/2022 EUR 53.160
Natixis SA 3.150 06/09/2021 USD 69.680
Landesbank Hessen-Thuer 3.500 07/06/2022 EUR 43.590
Raiffeisen Schweiz Geno 4.100 06/08/2022 CHF 67.060
DekaBank Deutsche Giroz 2.000 6/25/2021 EUR 68.960
UniCredit Bank AG 5.600 07/02/2021 EUR 61.510
UniCredit Bank AG 3.700 6/25/2022 EUR 61.770
UniCredit Bank AG 6.350 5/14/2021 EUR 53.210
Landesbank Hessen-Thuer 4.40012/22/2022 EUR 52.510
Landesbank Baden-Wuertt 3.050 9/23/2022 EUR 59.640
Landesbank Baden-Wuertt 2.850 9/23/2022 EUR 66.670
SG Issuer SA 8.300 7/21/2025 SEK 65.810
Landesbank Hessen-Thuer 2.750 5/20/2021 EUR 64.500
Bayerische Landesbank 2.000 2/18/2022 EUR 63.710
Landesbank Hessen-Thuer 3.500 8/17/2022 EUR 73.440
Leonteq Securities AG 5.400 7/25/2022 CHF 58.970
UniCredit Bank AG 3.800 9/19/2021 EUR 39.760
UniCredit Bank AG 3.850 9/19/2021 EUR 51.530
Landesbank Hessen-Thuer 5.900 8/25/2023 EUR 47.120
Landesbank Hessen-Thuer 5.000 9/29/2022 EUR 57.970
UniCredit Bank AG 3.500 10/08/2022 EUR 50.350
DekaBank Deutsche Giroz 3.100 5/28/2021 EUR 41.630
EFG International Finan 6.200 05/03/2021 CHF 58.020
UniCredit Bank AG 4.300 8/24/2021 EUR 50.530
UniCredit Bank AG 3.500 9/19/2021 EUR 40.210
Landesbank Hessen-Thuer 3.500 9/29/2021 EUR 42.650
Leonteq Securities AG/G 3.000 9/20/2022 CHF 67.030
Landesbank Hessen-Thuer 3.000 07/06/2021 EUR 45.900
Landesbank Hessen-Thuer 6.000 10/06/2022 EUR 55.080
Landesbank Hessen-Thuer 6.000 08/04/2022 EUR 69.010
Bank Vontobel AG 22.005 06/07/2021 CHF 15.100
UniCredit Bank AG 4.300 7/18/2021 EUR 55.990
Landesbank Hessen-Thuer 4.000 7/21/2021 EUR 59.510
Landesbank Hessen-Thuer 4.000 7/21/2021 EUR 59.840
Corner Banca SA 20.000 4/27/2021 CHF 5.200
Landesbank Baden-Wuertt 2.500 1/28/2022 EUR 60.770
Landesbank Hessen-Thuer 7.80012/15/2022 EUR 63.480
Landesbank Hessen-Thuer 5.40011/24/2022 EUR 66.870
Landesbank Hessen-Thuer 3.000 08/11/2022 EUR 65.400
UniCredit Bank AG 4.400 12/10/2022 EUR 48.430
UniCredit Bank AG 4.200 12/08/2021 EUR 39.040
Landesbank Hessen-Thuer 5.65010/28/2022 EUR 45.520
UniCredit Bank AG 4.050 3/26/2021 EUR 42.100
UniCredit Bank AG 5.550 3/26/2021 EUR 51.940
UniCredit Bank AG 3.700 3/26/2021 EUR 66.660
Leonteq Securities AG 6.000 05/12/2021 CHF 69.800
Landesbank Baden-Wuertt 3.40011/25/2022 EUR 59.360
Nordea Bank Abp 3.500 7/20/2024 SEK 68.630
Landesbank Baden-Wuertt 3.000 7/23/2021 EUR 67.160
Landesbank Baden-Wuertt 3.250 8/27/2021 EUR 54.720
Landesbank Hessen-Thuer 4.000 10/12/2022 EUR 61.360
Leonteq Securities AG/G 4.750 11/01/2021 CHF 15.200
UniCredit Bank AG 6.300 3/26/2021 EUR 37.880
Vontobel Financial Prod 6.700 03/07/2022 EUR 57.460
UniCredit Bank AG 3.600 3/29/2022 EUR 60.590
Landesbank Baden-Wuertt 3.950 8/27/2021 EUR 59.350
Leonteq Securities AG/G 5.000 9/13/2021 CHF 69.000
Landesbank Baden-Wuertt 3.25011/26/2021 EUR 73.230
DekaBank Deutsche Giroz 3.100 12/03/2021 EUR 49.750
Landesbank Hessen-Thuer 5.500 12/03/2024 EUR 67.920
BNP Paribas Emissions- 10.000 3/25/2021 EUR 70.330
BNP Paribas Emissions- 10.000 6/24/2021 EUR 71.060
BNP Paribas Emissions- 7.500 6/24/2021 EUR 73.970
BNP Paribas Emissions- 5.500 3/25/2021 EUR 74.940
BNP Paribas Emissions- 9.500 3/25/2021 EUR 72.600
BNP Paribas Emissions- 10.000 3/25/2021 EUR 71.750
BNP Paribas Emissions- 11.000 3/25/2021 EUR 69.230
BNP Paribas Emissions- 18.000 3/25/2021 EUR 3.120
BNP Paribas Emissions- 5.500 3/25/2021 EUR 74.010
BNP Paribas Emissions- 7.000 3/25/2021 EUR 72.530
BNP Paribas Emissions- 8.500 3/25/2021 EUR 71.220
BNP Paribas Emissions- 12.000 6/24/2021 EUR 68.640
BNP Paribas Emissions- 12.000 6/24/2021 EUR 66.330
Bank Julius Baer & Co L 11.500 03/01/2021 CHF 71.100
Leonteq Securities AG 16.000 03/02/2021 CHF 3.800
Landesbank Hessen-Thuer 5.26010/22/2024 EUR 73.940
Raiffeisen Schweiz Geno 5.150 3/24/2021 CHF 72.390
DekaBank Deutsche Giroz 2.60010/24/2023 EUR 62.400
EFG International Finan 9.800 9/21/2021 EUR 43.310
BNP Paribas Issuance BV 4.00010/31/2022 EUR 71.740
Landesbank Baden-Wuertt 2.50012/27/2021 EUR 60.450
Landesbank Baden-Wuertt 3.15012/27/2021 EUR 73.160
Landesbank Baden-Wuertt 3.500 7/23/2021 EUR 64.730
Danske Bank A/S 10.300 07/09/2023 SEK 9.500
Danske Bank A/S 6.976 07/09/2023 SEK 65.790
Danske Bank A/S 6.300 01/09/2023 SEK 72.290
UniCredit Bank AG 4.150 10/12/2022 EUR 62.030
Natixis SA 1.500 10/04/2021 EUR 58.060
DekaBank Deutsche Giroz 8.100 4/23/2021 EUR 71.100
Leonteq Securities AG 7.400 9/28/2021 CHF 68.270
Concern Rossium LLC 6.25012/13/2028 RUB 60.060
Banque Cantonale Vaudoi 4.500 3/29/2021 EUR 50.570
Banque Cantonale Vaudoi 4.500 3/29/2021 CHF 53.040
EFG International Finan 26.000 6/24/2021 CHF 13.120
DekaBank Deutsche Giroz 3.400 4/30/2021 EUR 45.780
DekaBank Deutsche Giroz 2.800 05/02/2022 EUR 54.050
Leonteq Securities AG 7.400 6/21/2021 CHF 67.060
Leonteq Securities AG/G 8.200 6/21/2021 EUR 59.040
DZ Bank AG Deutsche Zen 5.000 9/20/2021 EUR 74.600
DZ Bank AG Deutsche Zen 16.900 3/26/2021 EUR 72.320
DZ Bank AG Deutsche Zen 13.100 6/25/2021 EUR 74.070
Leonteq Securities AG/G 20.700 3/19/2021 USD 6.030
Leonteq Securities AG 20.600 3/19/2021 EUR 6.000
Leonteq Securities AG 30.000 6/22/2021 CHF 15.190
Leonteq Securities AG 20.000 3/19/2021 CHF 5.860
Bank Vontobel AG 10.003 5/18/2021 CHF 5.180
Vontobel Financial Prod 21.000 3/26/2021 EUR
Vontobel Financial Prod 22.500 3/26/2021 EUR
Vontobel Financial Prod 24.000 3/26/2021 EUR
DZ Bank AG Deutsche Zen 20.200 3/22/2021 EUR 4.510
DZ Bank AG Deutsche Zen 19.200 6/21/2021 EUR 8.940
Societe Generale Effekt 23.500 3/26/2021 EUR
Leonteq Securities AG 15.600 4/20/2021 CHF 4.170
EFG International Finan 29.000 5/25/2021 CHF 14.750
Societe Generale Effekt 21.750 5/28/2021 EUR
EFG International Finan 15.000 05/06/2021 USD 7.650
Leonteq Securities AG/G 3.420 6/16/2021 USD 73.770
UBS AG/London 7.750 6/21/2021 CHF 73.600
Goldman Sachs & Co Wert 25.000 3/24/2021 EUR 71.470
Leonteq Securities AG/G 4.290 7/30/2021 USD 67.760
Leonteq Securities AG/G 2.630 7/30/2021 USD 64.560
Goldman Sachs & Co Wert 21.000 6/23/2021 EUR 72.450
Leonteq Securities AG/G 4.710 6/16/2021 USD 75.340
UBS AG/London 11.250 6/21/2021 USD 54.450
Bank Vontobel AG 10.253 5/17/2021 EUR 49.000
Vontobel Financial Prod 20.000 6/25/2021 EUR
Raiffeisen Centrobank A 5.750 7/19/2021 EUR 61.250
Skandinaviska Enskilda 6.300 7/15/2022 SEK 63.180
Raiffeisen Centrobank A 6.250 7/19/2021 EUR 71.610
UBS AG/London 7.250 6/21/2021 CHF 53.400
UBS AG/London 8.500 6/21/2021 EUR 73.450
UniCredit Bank AG 5.550 7/19/2022 EUR 73.170
Leonteq Securities AG 20.400 5/18/2021 CHF 10.520
Corner Banca SA 21.000 5/18/2021 CHF 10.390
Leonteq Securities AG 20.000 5/20/2021 CHF 10.300
Vontobel Financial Prod 24.500 6/25/2021 EUR
BNP Paribas Emissions- 0.170 9/23/2021 EUR 0.550
Vontobel Financial Prod 23.000 6/25/2021 EUR
UBS AG/London 10.000 6/14/2021 EUR 54.700
Zurcher Kantonalbank Fi 8.250 6/18/2021 CHF 70.180
Landesbank Baden-Wuertt 2.100 7/28/2023 EUR 72.030
Corner Banca SA 15.000 05/04/2021 CHF 7.020
DZ Bank AG Deutsche Zen 21.900 3/22/2021 EUR 4.790
Bayerische Landesbank 3.200 2/19/2021 EUR 53.030
Leonteq Securities AG/G 10.000 06/03/2022 CHF 13.590
Landesbank Baden-Wuertt 4.000 5/27/2022 EUR 50.850
Landesbank Baden-Wuertt 3.300 5/27/2022 EUR 56.760
UniCredit Bank AG 9.60012/27/2021 EUR 65.070
UniCredit Bank AG 8.90012/27/2021 EUR 67.090
Corner Banca SA 15.200 08/11/2021 CHF 11.530
UBS AG/London 11.500 6/14/2021 USD 71.650
UBS AG/London 14.750 6/14/2021 USD 9.950
UBS AG/London 7.500 6/14/2021 EUR 53.750
UBS AG/London 11.200 3/25/2021 EUR 70.390
UBS AG/London 7.000 6/24/2021 EUR 64.220
UBS AG/London 10.200 3/25/2021 EUR 73.650
UBS AG/London 7.200 3/25/2021 EUR 70.920
Vontobel Financial Prod 4.500 3/26/2021 EUR 64.590
Vontobel Financial Prod 4.000 3/26/2021 EUR 74.970
UBS AG/London 2.000 3/25/2021 EUR 63.210
UBS AG/London 7.400 3/25/2021 EUR 69.460
UBS AG/London 9.000 02/01/2021 EUR 56.250
UBS AG/London 9.900 3/25/2021 EUR 68.480
BNP Paribas Emissions- 9.000 3/25/2021 EUR 71.480
UBS AG/London 4.900 3/25/2021 EUR 64.230
UBS AG/London 9.000 9/23/2021 EUR 61.310
BNP Paribas Emissions- 16.000 3/25/2021 EUR 65.560
UBS AG/London 6.200 3/25/2021 EUR 71.020
BNP Paribas Emissions- 9.000 3/25/2021 EUR 73.250
BNP Paribas Emissions- 11.000 3/25/2021 EUR 71.170
BNP Paribas Emissions- 12.000 6/24/2021 EUR 72.460
BNP Paribas Emissions- 7.000 3/25/2021 EUR 66.230
BNP Paribas Emissions- 8.000 3/25/2021 EUR 64.540
BNP Paribas Emissions- 6.500 3/25/2021 EUR 75.040
BNP Paribas Emissions- 6.500 6/24/2021 EUR 74.710
BNP Paribas Emissions- 7.500 3/25/2021 EUR 68.530
BNP Paribas Emissions- 5.000 6/24/2021 EUR 71.990
BNP Paribas Emissions- 11.000 6/24/2021 EUR 72.320
BNP Paribas Emissions- 8.500 3/25/2021 EUR 69.040
BNP Paribas Emissions- 9.500 3/25/2021 EUR 69.200
BNP Paribas Emissions- 10.000 3/25/2021 EUR 67.790
BNP Paribas Emissions- 6.500 3/25/2021 EUR 75.100
BNP Paribas Emissions- 12.000 3/25/2021 EUR 71.480
BNP Paribas Emissions- 11.000 6/24/2021 EUR 72.510
BNP Paribas Emissions- 9.000 3/25/2021 EUR 71.590
BNP Paribas Emissions- 9.500 3/25/2021 EUR 70.750
BNP Paribas Emissions- 12.000 3/25/2021 EUR 67.710
BNP Paribas Emissions- 6.500 3/25/2021 EUR 74.160
BNP Paribas Emissions- 7.500 3/25/2021 EUR 70.970
BNP Paribas Emissions- 9.000 3/25/2021 EUR 70.150
BNP Paribas Emissions- 7.500 3/25/2021 EUR 71.060
BNP Paribas Emissions- 10.000 6/24/2021 EUR 70.410
BNP Paribas Emissions- 11.000 3/25/2021 EUR 66.530
BNP Paribas Emissions- 7.000 6/24/2021 EUR 73.630
BNP Paribas Emissions- 7.500 6/24/2021 EUR 72.290
BNP Paribas Emissions- 8.000 6/24/2021 EUR 71.490
BNP Paribas Emissions- 8.500 6/24/2021 EUR 70.710
BNP Paribas Emissions- 9.000 6/24/2021 EUR 69.490
BNP Paribas Emissions- 11.000 6/24/2021 EUR 67.180
BNP Paribas Emissions- 13.000 3/25/2021 EUR 66.270
BNP Paribas Emissions- 15.000 6/24/2021 EUR 69.740
Vontobel Financial Prod 15.000 3/26/2021 EUR
Landesbank Baden-Wuertt 2.300 6/24/2022 EUR 55.670
Landesbank Baden-Wuertt 4.100 1/28/2022 EUR 56.690
Landesbank Baden-Wuertt 3.400 2/24/2023 EUR 65.050
HSBC Trinkaus & Burkhar 7.600 6/25/2021 EUR 3.300
HSBC Trinkaus & Burkhar 5.700 6/25/2021 EUR 54.450
Landesbank Hessen-Thuer 6.600 02/01/2024 EUR 67.650
Leonteq Securities AG 27.000 06/02/2021 CHF 13.770
UniCredit Bank AG 5.050 01/11/2022 EUR 34.700
UniCredit Bank AG 5.750 01/11/2022 EUR 68.370
HSBC Trinkaus & Burkhar 6.500 6/25/2021 EUR 2.850
Landesbank Baden-Wuertt 3.250 2/24/2023 EUR 65.430
BNP Paribas Emissions- 23.00012/23/2021 EUR 21.280
Erste Group Bank AG 9.250 4/30/2025 EUR 0.600
Zurcher Kantonalbank Fi 7.750 07/02/2021 EUR 72.750
Landesbank Hessen-Thuer 5.600 02/11/2025 EUR 63.470
UBS AG/London 12.000 3/25/2021 CHF 6.980
Nordea Bank Abp 9.000 7/20/2024 SEK 71.530
Leonteq Securities AG/G 27.000 5/25/2021 EUR 9.810
Bank Julius Baer & Co L 10.200 5/30/2023 EUR 25.800
Zurcher Kantonalbank Fi 4.750 6/18/2021 CHF 65.800
Zurcher Kantonalbank Fi 7.750 6/18/2021 EUR 61.930
Erste Group Bank AG 8.000 7/31/2024 EUR 69.500
Nordea Bank Abp 7.100 7/20/2024 SEK 74.490
DZ Bank AG Deutsche Zen 11.250 2/24/2021 EUR 73.930
Leonteq Securities AG/G 25.000 8/26/2021 USD 18.890
Vontobel Financial Prod 20.000 3/26/2021 EUR
Vontobel Financial Prod 9.690 3/26/2021 USD 74.750
Bayerische Landesbank 2.500 12/03/2021 EUR 60.150
DekaBank Deutsche Giroz 5.150 5/21/2021 EUR 45.070
Landesbank Baden-Wuertt 3.500 7/23/2021 EUR 72.220
Landesbank Baden-Wuertt 3.000 7/23/2021 EUR 72.060
DekaBank Deutsche Giroz 2.00011/19/2021 EUR 55.060
UniCredit Bank AG 4.35010/26/2021 EUR 32.960
Landesbank Baden-Wuertt 3.800 1/28/2022 EUR 55.230
Goldman Sachs & Co Wert 15.000 3/24/2021 EUR 73.070
Goldman Sachs & Co Wert 4.000 3/24/2021 EUR 71.470
Goldman Sachs & Co Wert 6.000 3/24/2021 EUR 61.860
Goldman Sachs & Co Wert 8.000 3/24/2021 EUR 56.960
Goldman Sachs & Co Wert 14.000 3/24/2021 EUR 45.000
DZ Bank AG Deutsche Zen 6.750 6/23/2021 EUR 74.480
Goldman Sachs & Co Wert 10.000 3/24/2021 EUR 51.860
DZ Bank AG Deutsche Zen 6.250 6/23/2021 EUR 74.280
DZ Bank AG Deutsche Zen 8.250 3/24/2021 EUR 74.210
Goldman Sachs & Co Wert 15.000 3/24/2021 EUR 61.610
Goldman Sachs & Co Wert 17.000 3/24/2021 EUR 59.380
Banque Cantonale Vaudoi 4.500 3/29/2021 CHF 50.490
Landesbank Baden-Wuertt 2.300 2/26/2021 EUR 64.220
Landesbank Baden-Wuertt 1.750 2/26/2021 EUR 68.500
Landesbank Baden-Wuertt 4.000 2/26/2021 EUR 72.890
Leonteq Securities AG/G 8.130 2/21/2022 EUR 71.280
Leonteq Securities AG/G 5.700 2/21/2022 CHF 72.990
DZ Bank AG Deutsche Zen 7.900 3/24/2021 EUR 67.770
DZ Bank AG Deutsche Zen 8.500 3/24/2021 EUR 66.870
DZ Bank AG Deutsche Zen 7.000 6/23/2021 EUR 68.650
DZ Bank AG Deutsche Zen 6.700 6/23/2021 EUR 71.020
DZ Bank AG Deutsche Zen 6.200 3/24/2021 EUR 70.390
DZ Bank AG Deutsche Zen 9.800 3/24/2021 EUR 65.700
DZ Bank AG Deutsche Zen 5.600 6/23/2021 EUR 69.760
Raiffeisen Schweiz Geno 5.000 8/24/2022 CHF 69.470
Raiffeisen Schweiz Geno 4.500 2/21/2023 CHF 66.840
Raiffeisen Schweiz Geno 6.000 8/24/2022 CHF 71.560
Corner Banca SA 30.000 06/08/2021 USD 14.800
Leonteq Securities AG/G 29.000 06/08/2021 CHF 14.700
Landesbank Baden-Wuertt 9.000 2/26/2021 EUR 67.410
Landesbank Baden-Wuertt 6.900 2/26/2021 EUR 70.420
Landesbank Baden-Wuertt 7.500 2/26/2021 EUR 61.660
Landesbank Baden-Wuertt 5.000 3/26/2021 EUR 71.670
Vontobel Financial Prod 5.600 2/22/2021 EUR 64.690
Leonteq Securities AG/G 14.000 2/24/2021 USD 3.340
Landesbank Baden-Wuertt 5.400 2/26/2021 EUR 73.040
Landesbank Baden-Wuertt 6.700 2/26/2021 EUR 70.580
Landesbank Baden-Wuertt 7.500 2/26/2021 EUR 72.900
Landesbank Baden-Wuertt 3.750 2/26/2021 EUR 38.860
Landesbank Baden-Wuertt 2.750 2/26/2021 EUR 65.510
Landesbank Baden-Wuertt 4.500 2/26/2021 EUR 71.190
Leonteq Securities AG 12.400 2/24/2021 CHF 2.870
Goldman Sachs & Co Wert 18.000 5/26/2021 EUR 73.090
Goldman Sachs & Co Wert 19.000 6/23/2021 EUR 71.630
UBS AG/London 5.000 3/26/2021 EUR 72.750
Erste Group Bank AG 10.500 4/29/2021 EUR 69.450
UBS AG/London 10.000 3/29/2021 EUR 45.400
Societe Generale SA 8.848 3/29/2024 USD 59.650
Goldman Sachs & Co Wert 18.000 4/21/2021 EUR 73.350
Goldman Sachs & Co Wert 18.000 7/21/2021 EUR 72.550
Goldman Sachs & Co Wert 19.000 2/24/2021 EUR
Goldman Sachs & Co Wert 18.000 9/22/2021 EUR 72.520
Vontobel Financial Prod 16.500 6/25/2021 EUR 74.040
Vontobel Financial Prod 17.500 3/26/2021 EUR 73.890
Landesbank Baden-Wuertt 3.250 9/24/2021 EUR 59.650
Leonteq Securities AG/G 4.000 4/19/2022 EUR 65.090
Credit Suisse AG/London 9.20012/16/2021 USD 9.875
Raiffeisen Schweiz Geno 6.900 08/03/2022 CHF 72.480
Vontobel Financial Prod 5.500 3/26/2021 EUR 67.600
Bank Julius Baer & Co L 8.250 1/31/2022 USD 66.350
Raiffeisen Switzerland 8.500 02/03/2021 EUR 69.600
Bank Julius Baer & Co L 10.300 1/31/2022 USD 73.800
Bank Julius Baer & Co L 9.200 02/01/2021 EUR 53.800
Leonteq Securities AG 16.600 02/03/2021 CHF 4.250
Vontobel Financial Prod 11.500 3/26/2021 EUR
Bank Julius Baer & Co L 9.200 02/05/2021 CHF 59.850
UBS AG/London 12.000 02/05/2021 CHF 8.060
Credit Suisse AG/London 7.500 08/05/2021 CHF 70.470
Vontobel Financial Prod 12.500 3/26/2021 EUR 63.630
UBS AG/London 14.500 02/05/2021 CHF 68.350
Vontobel Financial Prod 13.500 3/26/2021 EUR
Vontobel Financial Prod 14.500 3/26/2021 EUR
Vontobel Financial Prod 9.500 03/12/2021 EUR 55.700
Vontobel Financial Prod 12.500 3/26/2021 EUR 74.900
Vontobel Financial Prod 4.000 03/12/2021 EUR 65.900
SG Issuer SA 0.850 7/29/2024 EUR 9.900
Landesbank Baden-Wuertt 5.000 7/23/2021 EUR 68.820
Landesbank Baden-Wuertt 4.000 7/23/2021 EUR 67.570
Landesbank Baden-Wuertt 3.000 6/25/2021 EUR 67.840
Landesbank Baden-Wuertt 3.000 6/25/2021 EUR 65.730
Zurcher Kantonalbank Fi 8.000 05/07/2021 CHF 55.300
UBS AG/London 8.50011/22/2021 EUR 72.100
Credit Suisse AG/London 6.200 7/29/2022 CHF 72.740
UBS AG/London 10.000 5/20/2021 CHF 72.150
UBS AG/London 13.750 1/29/2021 CHF 70.300
EFG International Finan 23.000 1/29/2021 EUR 11.710
Landesbank Baden-Wuertt 3.250 7/28/2023 EUR 66.420
Societe Generale Effekt 17.468 6/25/2021 EUR 71.310
Zurcher Kantonalbank Fi 5.75011/26/2021 CHF 66.980
Zurcher Kantonalbank Fi 8.125 02/11/2022 EUR 57.630
Zurcher Kantonalbank Fi 9.750 02/11/2022 USD 60.220
Landesbank Baden-Wuertt 4.300 7/23/2021 EUR 72.140
Vontobel Financial Prod 14.500 03/12/2021 EUR
Vontobel Financial Prod 18.000 03/12/2021 EUR 66.430
Societe Generale Effekt 8.734 6/25/2021 EUR 71.420
Landesbank Baden-Wuertt 2.000 7/23/2021 EUR 58.770
Landesbank Baden-Wuertt 5.500 6/25/2021 EUR 52.180
Landesbank Baden-Wuertt 3.500 7/23/2021 EUR 55.090
Landesbank Baden-Wuertt 6.500 6/25/2021 EUR 70.210
DekaBank Deutsche Giroz 5.500 12/03/2021 EUR 67.760
DZ Bank AG Deutsche Zen 7.000 3/22/2021 EUR 73.990
EFG International Finan 10.800 5/26/2021 CHF 58.250
Credit Suisse AG/London 8.000 2/25/2021 EUR 56.500
Landesbank Baden-Wuertt 3.69012/23/2022 EUR 70.780
Landesbank Hessen-Thuer 4.00012/27/2023 EUR 72.860
Credit Suisse AG/London 9.250 2/26/2021 EUR 65.010
Raiffeisen Schweiz Geno 7.80011/22/2021 CHF 57.050
BNP Paribas Emissions- 12.000 6/24/2021 EUR 60.280
BNP Paribas Emissions- 5.000 6/24/2021 EUR 71.990
BNP Paribas Emissions- 6.500 6/24/2021 EUR 70.490
BNP Paribas Emissions- 9.000 6/24/2021 EUR 65.660
BNP Paribas Emissions- 8.000 6/24/2021 EUR 64.600
BNP Paribas Emissions- 10.000 6/24/2021 EUR 61.080
BNP Paribas Emissions- 11.000 6/24/2021 EUR 73.600
Vontobel Financial Prod 5.100 5/28/2021 EUR 70.310
Credit Suisse AG/London 7.000 7/20/2021 EUR 72.810
DZ Bank AG Deutsche Zen 6.200 2/24/2021 EUR 69.230
BNP Paribas Emissions- 9.000 6/24/2021 EUR 73.630
BNP Paribas Emissions- 9.500 6/24/2021 EUR 71.710
Leonteq Securities AG/G 14.000 7/20/2021 EUR 69.600
Leonteq Securities AG/G 11.800 4/20/2021 CHF 70.380
Vontobel Financial Prod 4.800 6/18/2021 EUR 70.260
UniCredit Bank AG 10.100 2/26/2021 EUR 70.080
UniCredit Bank AG 8.20011/26/2021 EUR 72.820
UniCredit Bank AG 9.100 7/23/2021 EUR 71.420
Bank Julius Baer & Co L 10.600 7/22/2021 USD 50.450
Credit Suisse AG/London 7.500 4/21/2021 EUR 57.960
Vontobel Financial Prod 3.400 6/18/2021 EUR 59.990
DZ Bank AG Deutsche Zen 10.300 3/26/2021 EUR 67.150
DZ Bank AG Deutsche Zen 6.000 3/26/2021 EUR 72.840
DZ Bank AG Deutsche Zen 9.000 3/26/2021 EUR 60.990
Banque Cantonale Vaudoi 11.400 7/21/2021 EUR 56.820
Banque Cantonale Vaudoi 11.280 7/21/2021 CHF 56.700
UBS AG/London 11.750 7/22/2021 CHF 56.500
UBS AG/London 8.000 1/24/2022 CHF 69.700
UBS AG/London 15.000 7/22/2021 CHF 70.550
Zurcher Kantonalbank Fi 5.350 7/29/2021 CHF 60.330
EFG International Finan 5.600 1/22/2024 CHF 73.990
Bank Julius Baer & Co L 7.850 1/25/2022 USD 66.100
Zurcher Kantonalbank Fi 7.500 5/28/2021 CHF 63.030
Landesbank Baden-Wuertt 3.000 7/23/2021 EUR 70.720
Landesbank Baden-Wuertt 2.500 6/25/2021 EUR 63.260
Landesbank Baden-Wuertt 4.000 6/25/2021 EUR 54.790
Landesbank Baden-Wuertt 5.500 6/25/2021 EUR 50.320
Landesbank Baden-Wuertt 6.500 6/25/2021 EUR 72.250
Landesbank Baden-Wuertt 2.000 6/25/2021 EUR 70.130
Landesbank Baden-Wuertt 3.500 6/25/2021 EUR 63.450
Credit Suisse AG/London 8.000 5/21/2021 CHF 70.940
DekaBank Deutsche Giroz 3.40012/16/2022 EUR 59.450
DekaBank Deutsche Giroz 3.70012/17/2021 EUR 65.850
UniCredit Bank AG 4.450 01/02/2024 EUR 70.830
Corner Banca SA 7.500 05/06/2022 EUR 72.050
Credit Suisse AG/London 10.750 7/26/2021 USD 68.030
Credit Suisse AG/London 7.600 7/23/2021 EUR 60.220
EFG International Finan 5.350 1/24/2023 USD 73.010
Vontobel Financial Prod 7.500 3/26/2021 EUR 72.360
Vontobel Financial Prod 16.000 3/26/2021 EUR
Bank Julius Baer & Co L 10.600 1/25/2021 EUR 69.700
EFG International Finan 4.620 1/27/2021 EUR 72.800
Bank Julius Baer & Co L 8.200 1/25/2021 CHF 56.500
Vontobel Financial Prod 9.100 2/21/2022 EUR 72.690
UBS AG/London 15.000 7/15/2021 CHF 41.850
UBS AG/London 7.500 1/17/2022 CHF 72.800
BNP Paribas Emissions- 15.350 2/25/2021 EUR 1.510
BNP Paribas Emissions- 6.000 3/24/2022 EUR 72.640
BNP Paribas Emissions- 3.000 9/23/2021 EUR 70.340
BNP Paribas Emissions- 6.000 3/25/2021 EUR 73.720
BNP Paribas Emissions- 7.000 3/24/2022 EUR 64.100
BNP Paribas Emissions- 10.00012/23/2021 EUR 9.450
Credit Suisse AG/London 8.000 7/19/2021 CHF 70.580
Corner Banca SA 11.000 7/21/2021 CHF 56.070
Raiffeisen Schweiz Geno 5.200 1/17/2023 CHF 69.980
Raiffeisen Schweiz Geno 8.200 4/20/2021 CHF 55.920
Credit Suisse AG/London 11.500 5/20/2021 CHF 56.780
UBS AG/London 7.000 1/31/2022 EUR 99.050
UniCredit Bank AG 3.200 01/02/2023 EUR 71.940
UBS AG/London 11.000 1/29/2021 CHF 66.650
Bank Julius Baer & Co L 6.950 2/19/2021 CHF 62.550
Leonteq Securities AG 14.800 05/04/2021 CHF 74.090
Societe Generale SA 17.040 4/27/2021 USD 70.000
Leonteq Securities AG/G 8.00011/25/2021 EUR 72.480
DZ Bank AG Deutsche Zen 6.750 3/24/2021 EUR 74.650
SG Issuer SA 0.85010/16/2024 EUR 9.940
Raiffeisen Schweiz Geno 6.300 4/28/2021 CHF 71.730
BNP Paribas Issuance BV 7.150 11/07/2024 SEK 71.600
EFG International Finan 12.880 02/01/2021 CHF 62.980
Zurcher Kantonalbank Fi 7.500 7/28/2021 CHF 61.070
DZ Bank AG Deutsche Zen 7.500 3/24/2021 EUR 51.170
DZ Bank AG Deutsche Zen 5.250 3/24/2021 EUR 56.910
DZ Bank AG Deutsche Zen 5.500 3/24/2021 EUR 69.780
Zurcher Kantonalbank Fi 8.000 1/14/2022 CHF 69.120
Landesbank Baden-Wuertt 3.500 3/24/2023 EUR 69.220
Credit Suisse AG/London 9.250 4/14/2021 EUR 66.190
Societe Generale SA 13.010 02/02/2023 USD 55.150
EFG International Finan 5.350 1/17/2023 USD 69.660
Vontobel Financial Prod 3.800 08/11/2021 EUR 74.330
BNP Paribas Emissions- 10.000 3/24/2022 EUR 11.950
BNP Paribas Emissions- 12.000 3/25/2021 EUR 2.330
UniCredit Bank AG 12.600 3/26/2021 EUR 68.500
UniCredit Bank AG 9.600 3/26/2021 EUR 72.540
SG Issuer SA 9.800 05/03/2021 USD 56.700
UniCredit Bank AG 11.300 3/26/2021 EUR 52.850
UniCredit Bank AG 13.300 3/26/2021 EUR 66.100
Leonteq Securities AG/G 6.800 5/18/2021 EUR 61.150
UniCredit Bank AG 5.300 3/26/2021 EUR 73.410
UniCredit Bank AG 12.800 3/26/2021 EUR 64.290
EFG International Finan 7.200 4/26/2022 CHF 66.860
UniCredit Bank AG 9.600 3/26/2021 EUR 55.560
UniCredit Bank AG 11.100 6/25/2021 EUR 70.540
UniCredit Bank AG 13.500 6/25/2021 EUR 71.570
UniCredit Bank AG 12.00012/24/2021 EUR 74.180
UniCredit Bank AG 13.00012/24/2021 EUR 72.280
UniCredit Bank AG 10.500 3/26/2021 EUR 69.890
Credit Suisse AG/London 10.75011/29/2021 USD 61.445
UBS AG/London 13.500 4/26/2021 USD
Raiffeisen Schweiz Geno 4.00011/15/2022 CHF 65.730
Vontobel Financial Prod 5.400 2/23/2021 EUR 74.280
BNP Paribas Emissions- 3.00012/23/2021 EUR 69.520
BNP Paribas Emissions- 7.000 6/24/2021 EUR 73.740
BNP Paribas Emissions- 7.00012/23/2021 EUR 63.590
Corner Banca SA 4.200 7/20/2021 CHF 74.060
Raiffeisen Schweiz Geno 8.50012/13/2021 CHF 60.670
Luzerner Kantonalbank A 7.120 6/18/2021 CHF 72.150
Zurcher Kantonalbank Fi 6.30012/16/2022 CHF 58.440
Leonteq Securities AG/G 17.490 3/17/2021 EUR 4.190
EFG International Finan 10.26012/19/2024 CHF 73.470
UBS AG/London 12.00012/20/2021 CHF 62.250
UBS AG/London 12.750 6/18/2021 CHF 58.800
UBS AG/London 14.00012/20/2021 CHF 74.100
UBS AG/London 10.25012/20/2021 CHF 73.700
UBS AG/London 7.00012/20/2021 CHF 61.600
Credit Suisse AG/London 6.000 6/16/2022 CHF 73.300
Credit Suisse AG/London 8.000 6/18/2021 CHF 71.230
EFG International Finan 5.35012/19/2022 USD 70.850
Leonteq Securities AG/G 7.000 6/20/2022 CHF 71.280
Leonteq Securities AG/G 7.50012/20/2021 EUR 59.920
Pongs & Zahn AG 8.500 EUR 0.002
EFG International Finan 8.60012/20/2021 CHF 73.590
Zurcher Kantonalbank Fi 6.25012/30/2021 EUR 73.720
Leonteq Securities AG/G 12.000 3/23/2021 EUR 72.640
Leonteq Securities AG 11.00012/20/2021 CHF 74.350
Leonteq Securities AG 10.400 3/23/2021 CHF 73.100
Leonteq Securities AG/G 9.500 6/23/2021 CHF 72.640
Vontobel Financial Prod 8.000 03/12/2021 EUR 62.850
Bank Julius Baer & Co L 12.000 05/05/2021 CHF 73.500
Landesbank Baden-Wuertt 13.120 2/26/2021 EUR 72.690
Vontobel Financial Prod 4.000 03/12/2021 EUR 67.490
Vontobel Financial Prod 8.000 03/12/2021 EUR 71.080
Vontobel Financial Prod 16.500 06/11/2021 EUR 68.290
Skandinaviska Enskilda 6.000 1/15/2025 SEK 62.490
Skandinaviska Enskilda 5.800 1/15/2025 SEK 71.760
Zurcher Kantonalbank Fi 4.000 02/11/2022 CHF 59.880
Zurcher Kantonalbank Fi 6.750 02/11/2022 CHF 67.160
Credit Suisse AG/London 8.000 05/04/2021 EUR 66.090
Leonteq Securities AG 4.00012/18/2026 CHF 68.030
Leonteq Securities AG 3.900 9/21/2029 CHF 71.570
Raiffeisen Schweiz Geno 3.000 9/21/2029 CHF 65.520
Leonteq Securities AG 3.90012/20/2024 CHF 51.850
Zurcher Kantonalbank Fi 3.00011/19/2021 CHF 72.600
Zurcher Kantonalbank Fi 8.750 05/07/2021 CHF 64.020
DZ Bank AG Deutsche Zen 10.900 3/22/2021 EUR 2.380
Bank Julius Baer & Co L 10.000 06/01/2021 CHF 68.700
UBS AG/London 12.250 02/12/2021 CHF 7.270
DZ Bank AG Deutsche Zen 7.000 3/22/2021 EUR 73.230
DZ Bank AG Deutsche Zen 10.250 3/22/2021 EUR 2.510
UBS AG/London 9.300 08/12/2021 CHF 62.950
UBS AG/London 6.200 3/25/2021 EUR 63.470
UBS AG/London 7.100 6/24/2021 EUR 62.300
UBS AG/London 8.000 3/25/2021 EUR 59.540
UBS AG/London 4.000 6/24/2021 EUR 64.530
Landesbank Baden-Wuertt 6.300 6/25/2021 EUR 71.460
Landesbank Baden-Wuertt 3.800 7/23/2021 EUR 70.700
Landesbank Baden-Wuertt 2.500 7/23/2021 EUR 64.170
Landesbank Baden-Wuertt 1.600 6/25/2021 EUR 67.260
UBS AG/London 13.250 06/04/2021 EUR 5.220
UBS AG/London 2.600 3/25/2021 EUR 67.120
UBS AG/London 9.500 3/25/2021 EUR 75.180
Leonteq Securities AG/G 9.500 06/03/2021 EUR 54.300
UBS AG/London 9.000 6/24/2021 EUR 58.840
UBS AG/London 9.700 3/25/2021 EUR 55.950
Landesbank Baden-Wuertt 4.750 6/25/2021 EUR 64.610
Landesbank Baden-Wuertt 7.750 6/25/2021 EUR 64.480
Leonteq Securities AG 5.750 01/09/2023 CHF 73.840
UBS AG/London 12.000 12/06/2021 USD 66.590
Vontobel Financial Prod 10.000 3/26/2021 EUR 69.980
Skandinaviska Enskilda 6.400 1/15/2025 SEK 64.740
Skandinaviska Enskilda 5.750 1/15/2025 SEK 71.590
Raiffeisen Schweiz Geno 5.60011/29/2022 CHF 71.540
Nordea Bank Abp 8.500 1/20/2025 SEK 68.590
Credit Suisse AG/London 8.000 6/30/2021 CHF 69.670
DZ Bank AG Deutsche Zen 4.500 3/22/2021 EUR 60.870
Vontobel Financial Prod 15.000 3/26/2021 EUR
UBS AG/London 14.500 02/12/2021 CHF 67.450
Vontobel Financial Prod 8.480 02/12/2021 EUR
UBS AG/London 10.750 02/12/2021 CHF 67.050
BNP Paribas Issuance BV 8.300 2/25/2021 EUR 66.750
UBS AG/London 10.00010/25/2021 CHF 66.650
Raiffeisen Schweiz Geno 7.000 05/11/2021 CHF 64.080
UniCredit Bank AG 14.200 3/26/2021 EUR 64.230
UniCredit Bank AG 10.30012/24/2021 EUR 69.100
UBS AG/London 7.75010/25/2021 EUR 60.050
Raiffeisen Schweiz Geno 3.400 3/21/2025 CHF 52.320
UBS AG/London 7.000 08/12/2021 CHF 69.750
UBS AG/London 12.250 2/14/2022 CHF 73.000
UBS AG/London 13.500 4/23/2021 CHF 1.750
Leonteq Securities AG/G 3.650 09/02/2021 EUR 56.850
Leonteq Securities AG/G 2.380 09/02/2021 EUR 72.720
Leonteq Securities AG/G 3.430 09/02/2021 EUR 69.480
Leonteq Securities AG/G 6.070 09/02/2021 EUR 64.050
Leonteq Securities AG/G 9.220 09/02/2021 EUR 60.150
Leonteq Securities AG/G 5.120 09/02/2021 EUR 65.990
Leonteq Securities AG/G 7.940 09/02/2021 EUR 61.040
Leonteq Securities AG/G 9.500 09/02/2021 EUR 71.290
Leonteq Securities AG/G 1.150 09/02/2021 EUR 66.320
Leonteq Securities AG/G 2.370 09/02/2021 EUR 67.040
Leonteq Securities AG/G 3.790 09/02/2021 EUR 67.850
Leonteq Securities AG/G 5.270 09/02/2021 EUR 68.770
Leonteq Securities AG/G 6.690 09/02/2021 EUR 69.620
Leonteq Securities AG/G 9.500 09/02/2021 EUR 59.050
Leonteq Securities AG/G 11.140 09/02/2021 EUR 57.620
Vontobel Financial Prod 7.500 3/26/2021 EUR 70.360
Skandinaviska Enskilda 9.200 7/15/2024 SEK 67.650
UniCredit Bank AG 13.200 6/25/2021 EUR 65.670
Leonteq Securities AG/G 5.910 09/02/2021 EUR 60.760
Leonteq Securities AG/G 3.290 09/02/2021 EUR 52.720
Leonteq Securities AG/G 6.020 09/02/2021 EUR 54.370
UBS AG/London 12.000 4/23/2021 CHF 67.250
Leonteq Securities AG/G 4.500 09/02/2021 EUR 59.910
Leonteq Securities AG/G 5.020 09/02/2021 EUR 57.580
Leonteq Securities AG/G 8.760 09/02/2021 EUR 55.910
Leonteq Securities AG/G 9.660 09/02/2021 EUR 62.990
Leonteq Securities AG/G 2.470 09/02/2021 EUR 56.050
Leonteq Securities AG/G 8.590 09/02/2021 EUR 62.350
Leonteq Securities AG/G 1.430 09/02/2021 EUR 55.380
Leonteq Securities AG/G 6.330 09/02/2021 EUR 58.370
Leonteq Securities AG/G 4.570 09/02/2021 EUR 53.530
Leonteq Securities AG/G 7.440 09/02/2021 EUR 55.130
Leonteq Securities AG/G 7.130 09/02/2021 EUR 71.150
Leonteq Securities AG/G 9.900 09/02/2021 EUR 66.060
Leonteq Securities AG/G 4.670 09/02/2021 EUR 66.540
Leonteq Securities AG/G 7.590 09/02/2021 EUR 61.910
Vontobel Financial Prod 5.500 3/26/2021 EUR 73.830
Vontobel Financial Prod 11.000 3/26/2021 EUR 65.900
Vontobel Financial Prod 6.500 3/26/2021 EUR 72.050
EFG International Finan 5.350 12/02/2022 USD 70.080
Vontobel Financial Prod 18.500 3/26/2021 EUR
DekaBank Deutsche Giroz 3.25011/25/2022 EUR 66.880
Vontobel Financial Prod 17.500 3/26/2021 EUR
Corner Banca SA 5.250 1/24/2023 CHF 72.460
Corner Banca SA 12.200 4/27/2021 CHF 70.420
Leonteq Securities AG/G 7.00010/25/2021 EUR 71.920
Leonteq Securities AG/G 13.500 05/12/2021 EUR 6.440
DZ Bank AG Deutsche Zen 12.400 3/22/2021 EUR 2.760
Zurcher Kantonalbank Fi 5.000 4/23/2021 EUR 70.800
Raiffeisen Schweiz Geno 6.900 7/27/2022 CHF 73.460
Vontobel Financial Prod 9.500 3/26/2021 EUR 67.250
Vontobel Financial Prod 8.500 3/26/2021 EUR 68.770
Leonteq Securities AG 19.000 1/27/2021 CHF 5.050
Leonteq Securities AG/G 18.600 1/27/2021 USD 4.930
Skandinaviska Enskilda 4.400 7/15/2022 SEK 69.785
Leonteq Securities AG/G 7.290 09/02/2021 EUR 62.570
Leonteq Securities AG/G 8.480 09/02/2021 EUR 68.440
Leonteq Securities AG/G 11.390 09/02/2021 EUR 64.010
Leonteq Securities AG/G 3.920 09/02/2021 EUR 69.150
Leonteq Securities AG/G 6.460 09/02/2021 EUR 63.320
UniCredit Bank AG 9.30012/24/2021 EUR 59.420
UniCredit Bank AG 7.50012/24/2021 EUR 71.760
UniCredit Bank AG 8.00012/24/2021 EUR 69.380
Raiffeisen Schweiz Geno 7.200 3/23/2021 CHF 60.550
EFG International Finan 5.350 11/07/2022 USD 70.200
Bayerische Landesbank 2.30012/19/2022 EUR 74.080
Credit Suisse AG/London 6.000 3/21/2022 USD 10.000
Vontobel Financial Prod 13.000 3/26/2021 EUR 71.460
UBS AG/London 5.750 8/16/2021 CHF 71.550
Araratbank OJSC 5.500 9/19/2023 USD 24.584
Leonteq Securities AG 7.000 8/16/2021 CHF 64.050
Vontobel Financial Prod 10.000 03/12/2021 EUR 64.280
Vontobel Financial Prod 15.000 03/12/2021 EUR 65.490
Raiffeisen Schweiz Geno 6.000 11/01/2022 CHF 73.490
UniCredit Bank AG 9.90012/24/2021 EUR 67.360
UniCredit Bank AG 13.300 6/25/2021 EUR 70.130
UniCredit Bank AG 9.900 6/25/2021 EUR 62.380
UniCredit Bank AG 12.700 6/25/2021 EUR 62.760
DZ Bank AG Deutsche Zen 7.600 3/24/2021 EUR 59.510
UBS AG/London 7.000 8/16/2021 CHF 57.600
Landesbank Hessen-Thuer 4.000 9/20/2023 EUR 73.860
Vontobel Financial Prod 6.500 03/12/2021 EUR 72.730
Vontobel Financial Prod 14.000 03/12/2021 EUR 57.800
Raiffeisen Schweiz Geno 8.200 02/01/2021 USD 63.260
Leonteq Securities AG/G 15.400 03/12/2021 USD 58.540
Leonteq Securities AG 8.00012/13/2022 CHF 64.460
Corner Banca SA 22.000 3/16/2021 CHF 13.140
Leonteq Securities AG/G 17.570 03/10/2021 CHF 70.840
UBS AG/London 9.00012/13/2021 CHF 71.400
EFG International Finan 15.500 6/16/2021 EUR 7.370
Societe Generale Effekt 18.066 3/19/2021 EUR
BNP Paribas Emissions- 6.000 3/25/2021 EUR 66.850
BNP Paribas Emissions- 9.000 9/23/2021 EUR 6.300
BNP Paribas Emissions- 11.000 3/25/2021 EUR 2.130
UBS AG/London 14.000 06/11/2021 CHF 67.550
BNP Paribas Emissions- 12.000 3/25/2021 EUR 69.450
Credit Suisse AG/London 6.000 06/07/2022 CHF 73.140
Leonteq Securities AG/G 15.000 6/16/2021 CHF 70.520
Leonteq Securities AG/G 11.400 6/16/2021 EUR 63.400
Leonteq Securities AG 6.80012/13/2022 CHF 72.980
WEB Windenergie AG 6.250 EUR 0.010
EFG International Finan 5.35012/19/2022 USD 71.580
Credit Suisse AG/London 8.560 12/06/2022 USD 9.601
Vontobel Financial Prod 13.000 03/12/2021 EUR 65.790
Vontobel Financial Prod 16.000 06/11/2021 EUR 61.370
Vontobel Financial Prod 9.500 03/12/2021 EUR 68.390
DZ Bank AG Deutsche Zen 7.250 3/22/2021 EUR 73.250
BNP Paribas Emissions- 5.000 3/25/2021 EUR 68.850
BNP Paribas Emissions- 7.000 3/25/2021 EUR 63.790
BNP Paribas Emissions- 18.000 3/25/2021 EUR 72.620
Raiffeisen Schweiz Geno 5.300 9/20/2022 CHF 70.040
EFG International Finan 13.000 11/08/2021 EUR 64.870
Landesbank Baden-Wuertt 2.65010/27/2023 EUR 73.200
EFG International Finan 9.700 9/26/2022 CHF 16.170
Bayerische Landesbank 3.00011/26/2021 EUR 68.560
Bank Julius Baer & Co L 7.250 05/07/2021 USD 67.500
Societe Generale Effekt 13.989 6/25/2021 EUR 62.460
UniCredit Bank AG 15.100 6/25/2021 EUR 53.950
UniCredit Bank AG 5.70012/24/2021 EUR 68.290
UniCredit Bank AG 12.000 6/25/2021 EUR 74.070
UniCredit Bank AG 7.600 6/25/2021 EUR 70.070
UniCredit Bank AG 9.700 6/25/2021 EUR 66.210
UniCredit Bank AG 14.200 6/25/2021 EUR 68.590
Raiffeisen Schweiz Geno 6.600 3/23/2022 CHF 68.270
UBS AG/London 14.250 05/06/2021 CHF 72.900
UniCredit Bank AG 10.700 3/26/2021 EUR 71.130
UniCredit Bank AG 11.000 3/26/2021 EUR 63.220
UniCredit Bank AG 14.500 3/26/2021 EUR 65.350
Landesbank Baden-Wuertt 4.100 4/23/2021 EUR 69.210
Landesbank Baden-Wuertt 3.400 4/23/2021 EUR 51.990
Landesbank Baden-Wuertt 4.000 3/26/2021 EUR 67.060
Landesbank Baden-Wuertt 2.500 3/26/2021 EUR 73.350
Landesbank Baden-Wuertt 4.000 3/26/2021 EUR 65.880
Landesbank Baden-Wuertt 7.600 3/26/2021 EUR 56.670
Landesbank Baden-Wuertt 3.250 3/26/2021 EUR 62.670
Landesbank Baden-Wuertt 2.600 3/26/2021 EUR 63.960
BNP Paribas Emissions- 18.000 3/25/2021 EUR 70.380
UBS AG/London 14.280 5/17/2021 CHF 4.220
DZ Bank AG Deutsche Zen 7.900 3/24/2021 EUR 69.770
Leonteq Securities AG/G 10.600 8/13/2021 CHF 66.490
DZ Bank AG Deutsche Zen 4.900 3/22/2021 EUR 72.520
Landesbank Baden-Wuertt 4.25011/26/2021 EUR 67.970
Landesbank Baden-Wuertt 4.00011/26/2021 EUR 58.290
Landesbank Baden-Wuertt 3.10011/26/2021 EUR 64.210
Landesbank Baden-Wuertt 3.25011/26/2021 EUR 71.430
Landesbank Baden-Wuertt 2.10011/26/2021 EUR 74.340
Landesbank Baden-Wuertt 4.00011/26/2021 EUR 69.660
Vontobel Financial Prod 14.500 9/24/2021 EUR 72.400
DZ Bank AG Deutsche Zen 6.250 3/22/2021 EUR 73.100
UniCredit Bank AG 12.300 2/26/2021 EUR 73.650
Landesbank Baden-Wuertt 2.00011/26/2021 EUR 63.190
Credit Suisse AG/London 6.100 8/15/2022 CHF 71.370
Societe Generale Effekt 4.500 07/03/2023 EUR 69.300
UniCredit Bank AG 13.300 2/26/2021 EUR 66.340
Bank Julius Baer & Co L 4.050 4/28/2021 CHF 71.700
UBS AG/London 10.250 4/19/2021 EUR 74.250
Landesbank Baden-Wuertt 3.00011/26/2021 EUR 71.760
Landesbank Baden-Wuertt 2.00011/26/2021 EUR 67.570
Vontobel Financial Prod 12.500 6/25/2021 EUR 72.230
UniCredit Bank AG 12.200 7/23/2021 EUR 69.530
UniCredit Bank AG 10.500 7/23/2021 EUR 72.560
Vontobel Financial Prod 16.500 6/25/2021 EUR 70.380
Zurcher Kantonalbank Fi 8.000 05/04/2021 CHF 66.150
UniCredit Bank AG 11.100 2/26/2021 EUR 70.630
Bank Julius Baer & Co L 5.450 4/28/2021 CHF 67.100
Zurcher Kantonalbank Fi 9.250 4/30/2021 USD 70.250
UniCredit Bank AG 13.60012/24/2021 EUR 71.490
UniCredit Bank AG 13.900 6/25/2021 EUR 56.150
UniCredit Bank AG 13.400 3/26/2021 EUR 53.340
UniCredit Bank AG 13.100 3/26/2021 EUR 50.470
UniCredit Bank AG 10.200 6/25/2021 EUR 68.370
UniCredit Bank AG 10.40012/24/2021 EUR 68.930
UniCredit Bank AG 8.300 3/26/2021 EUR 59.780
UniCredit Bank AG 10.700 3/26/2021 EUR 56.290
UniCredit Bank AG 10.100 3/26/2021 EUR 67.830
UniCredit Bank AG 11.40012/24/2021 EUR 75.110
UniCredit Bank AG 14.000 3/26/2021 EUR 70.810
UniCredit Bank AG 6.600 3/26/2021 EUR 62.210
UniCredit Bank AG 8.100 3/26/2021 EUR 58.670
Credit Suisse AG/London 10.000 5/14/2021 EUR 66.610
Leonteq Securities AG 10.000 8/17/2021 CHF 66.520
Raiffeisen Centrobank A 7.250 12/06/2021 EUR 87.000
Leonteq Securities AG/G 1.600 1/28/2022 EUR 33.760
UBS AG/London 6.250 06/07/2021 CHF 53.000
Credit Suisse AG/London 5.500 1/28/2021 CHF 73.550
Leonteq Securities AG/G 2.29010/29/2021 EUR 47.650
BNP Paribas Emissions- 10.000 3/25/2021 EUR
BNP Paribas Issuance BV 5.000 11/05/2024 EUR 26.560
EFG International Finan 5.35011/15/2022 USD 68.900
UniCredit Bank AG 8.40012/24/2021 EUR 70.230
UniCredit Bank AG 10.200 6/25/2021 EUR 67.230
UniCredit Bank AG 13.300 3/26/2021 EUR 60.360
UniCredit Bank AG 9.00012/24/2021 EUR 73.090
BNP Paribas Emissions- 9.00012/23/2021 EUR
UniCredit Bank AG 8.700 3/26/2021 EUR 68.380
EFG International Finan 5.35010/31/2022 USD 72.470
DZ Bank AG Deutsche Zen 4.700 2/24/2021 EUR 73.700
UBS AG/London 10.50010/18/2021 CHF 70.700
UniCredit Bank AG 8.30012/24/2021 EUR 71.600
UniCredit Bank AG 13.200 6/25/2021 EUR 64.900
UniCredit Bank AG 14.300 6/25/2021 EUR 70.250
UniCredit Bank AG 14.10012/24/2021 EUR 70.660
UniCredit Bank AG 14.900 3/26/2021 EUR 69.170
UniCredit Bank AG 9.900 6/25/2021 EUR 72.120
SG Issuer SA 7.440 05/03/2021 CHF 54.050
UniCredit Bank AG 12.50012/24/2021 EUR 73.210
UniCredit Bank AG 14.900 3/26/2021 EUR 48.360
UniCredit Bank AG 9.700 3/26/2021 EUR 64.990
UniCredit Bank AG 6.200 3/26/2021 EUR 63.910
UniCredit Bank AG 13.100 3/26/2021 EUR 72.540
Raiffeisen Schweiz Geno 12.840 2/15/2021 CHF 52.040
UniCredit Bank AG 11.100 3/26/2021 EUR 70.450
UniCredit Bank AG 8.700 6/25/2021 EUR 73.820
UniCredit Bank AG 6.400 3/26/2021 EUR 70.740
UniCredit Bank AG 13.700 3/26/2021 EUR 63.550
Erste Group Bank AG 12.00011/21/2024 EUR 0.450
UniCredit Bank AG 11.800 3/26/2021 EUR 65.590
Leonteq Securities AG 9.00011/15/2021 CHF 69.910
UniCredit Bank AG 12.000 6/25/2021 EUR 74.460
UniCredit Bank AG 14.60012/24/2021 EUR 69.870
UniCredit Bank AG 8.400 3/26/2021 EUR 70.290
UniCredit Bank AG 12.200 3/26/2021 EUR 74.390
Credit Suisse AG/London 7.750 7/28/2021 CHF 70.930
UniCredit Bank AG 13.500 3/26/2021 EUR 70.720
Landesbank Hessen-Thuer 5.250 06/03/2024 EUR 70.470
UniCredit Bank AG 10.700 2/26/2021 EUR 73.590
UBS AG/London 8.750 06/07/2021 EUR 58.450
Landesbank Hessen-Thuer 5.750 07/12/2024 EUR 71.980
Zurcher Kantonalbank Fi 6.000 05/04/2021 CHF 67.620
DZ Bank AG Deutsche Zen 7.500 2/24/2021 EUR 68.670
Corner Banca SA 17.000 2/17/2021 CHF 4.000
Landesbank Baden-Wuertt 3.00011/26/2021 EUR 60.120
Leonteq Securities AG 13.000 2/17/2021 CHF 3.010
DekaBank Deutsche Giroz 3.70011/25/2022 EUR 63.050
Raiffeisen Switzerland 7.000 1/29/2021 EUR 60.980
Vontobel Financial Prod 11.500 3/26/2021 EUR 73.590
Vontobel Financial Prod 14.500 3/26/2021 EUR 69.450
Societe Generale SA 8.000 7/14/2021 USD 1.130
Bank Julius Baer & Co L 10.900 02/12/2021 USD 72.500
Landesbank Hessen-Thuer 7.700 8/20/2021 EUR 65.780
Vontobel Financial Prod 4.000 3/26/2021 EUR 73.670
EFG International Finan 7.600 5/27/2021 EUR 60.870
Societe Generale Effekt 13.500 3/26/2021 EUR 72.230
Vontobel Financial Prod 9.750 3/26/2021 EUR 66.010
Vontobel Financial Prod 10.000 2/26/2021 EUR 62.190
Vontobel Financial Prod 6.000 3/26/2021 EUR 59.660
Vontobel Financial Prod 7.750 3/26/2021 EUR 62.680
UBS AG/London 3.900 3/25/2021 EUR 69.440
UBS AG/London 11.000 6/28/2021 CHF 69.700
UBS AG/London 10.750 6/28/2021 CHF 61.070
Credit Suisse AG/London 9.500 3/29/2021 EUR 67.230
EFG International Finan 13.00012/27/2021 CHF 12.390
UBS AG/London 13.750 6/28/2021 CHF 9.730
Vontobel Financial Prod 7.250 3/26/2021 EUR 69.900
Vontobel Financial Prod 10.250 2/26/2021 EUR 55.520
Vontobel Financial Prod 9.500 2/26/2021 EUR 72.280
Vontobel Financial Prod 7.000 3/26/2021 EUR 55.710
Bank Julius Baer & Co L 8.350 1/30/2023 CHF 73.450
Credit Suisse AG/London 7.500 1/29/2021 CHF 67.670
UniCredit Bank AG 6.600 2/19/2024 EUR 69.730
BNP Paribas Emissions- 12.000 3/25/2021 EUR 2.260
Leonteq Securities AG 16.000 4/13/2021 CHF 10.880
Leonteq Securities AG/G 6.000 01/10/2023 CHF 71.060
Vontobel Financial Prod 6.500 3/29/2021 EUR 59.840
Vontobel Financial Prod 7.500 03/12/2021 EUR 58.370
Vontobel Financial Prod 10.500 06/11/2021 EUR 71.880
Vontobel Financial Prod 11.500 06/11/2021 EUR 66.400
Raiffeisen Schweiz Geno 5.000 01/10/2023 CHF 69.120
UniCredit Bank AG 5.55012/27/2023 EUR 69.160
Corner Banca SA 15.500 03/09/2021 CHF 69.130
BNP Paribas Issuance BV 7.20012/17/2024 SEK 70.070
Vontobel Financial Prod 16.000 03/12/2021 EUR 66.110
Vontobel Financial Prod 11.500 03/12/2021 EUR 55.050
Vontobel Financial Prod 17.000 03/12/2021 EUR 70.150
Vontobel Financial Prod 7.500 06/11/2021 EUR 73.020
Raiffeisen Schweiz Geno 8.200 7/13/2021 CHF 70.770
DZ Bank AG Deutsche Zen 12.200 3/22/2021 EUR 2.670
Leonteq Securities AG/G 3.35012/13/2021 EUR 61.900
Raiffeisen Schweiz Geno 5.500 12/06/2022 CHF 73.320
UBS AG/London 4.600 3/25/2021 EUR 58.700
Vontobel Financial Prod 6.500 03/12/2021 EUR 69.260
Vontobel Financial Prod 8.000 03/12/2021 EUR 66.930
Vontobel Financial Prod 5.000 03/12/2021 EUR 73.350
Vontobel Financial Prod 12.000 03/12/2021 EUR 70.180
Leonteq Securities AG 9.400 1/13/2022 CHF 67.720
DZ Bank AG Deutsche Zen 7.000 3/22/2021 EUR 61.250
DZ Bank AG Deutsche Zen 11.600 3/22/2021 EUR 2.590
Credit Suisse AG/London 7.000 06/09/2021 CHF 71.340
Vontobel Financial Prod 0.088 06/10/2021 EUR 66.200
Landesbank Hessen-Thuer 7.000 4/29/2022 EUR 58.950
Landesbank Baden-Wuertt 6.500 6/25/2021 EUR 70.340
Landesbank Baden-Wuertt 6.500 7/23/2021 EUR 56.570
Luzerner Kantonalbank A 6.000 6/23/2021 CHF 73.160
UBS AG/London 4.500 3/25/2021 EUR 74.520
UBS AG/London 12.500 3/25/2021 EUR 54.800
UBS AG/London 8.700 3/25/2021 EUR 63.920
Landesbank Baden-Wuertt 4.500 6/25/2021 EUR 59.730
Landesbank Baden-Wuertt 4.250 6/25/2021 EUR 73.250
Landesbank Baden-Wuertt 7.800 6/25/2021 EUR 65.210
Landesbank Baden-Wuertt 4.200 7/23/2021 EUR 59.850
Landesbank Baden-Wuertt 2.900 6/25/2021 EUR 63.160
Landesbank Hessen-Thuer 6.250 7/15/2022 EUR 67.060
Landesbank Baden-Wuertt 3.700 6/25/2021 EUR 66.710
UBS AG/London 7.100 3/25/2021 EUR 61.550
UBS AG/London 9.000 3/25/2021 EUR 57.690
EFG International Finan 12.800 06/09/2021 USD 61.400
Landesbank Baden-Wuertt 5.750 6/25/2021 EUR 63.240
Landesbank Baden-Wuertt 5.100 6/25/2021 EUR 71.760
Landesbank Baden-Wuertt 3.500 7/23/2021 EUR 73.120
Landesbank Baden-Wuertt 5.500 7/23/2021 EUR 62.410
Landesbank Baden-Wuertt 7.000 6/25/2021 EUR 48.750
Landesbank Baden-Wuertt 2.500 6/25/2021 EUR 61.730
Landesbank Baden-Wuertt 3.000 6/25/2021 EUR 64.630
Leonteq Securities AG/G 7.000 5/25/2022 CHF 72.990
Landesbank Baden-Wuertt 4.500 6/25/2021 EUR 61.550
Bayerische Landesbank 1.35012/23/2022 EUR 59.480
EFG International Finan 0.600 9/20/2022 EUR 62.350
Societe Generale SA 12.000 4/18/2024 USD 49.300
Banque Cantonale Vaudoi 5.500 04/08/2021 CHF 51.260
Bayerische Landesbank 2.700 5/14/2021 EUR 52.970
Citigroup Global Market 6.800 05/07/2024 SEK
DekaBank Deutsche Giroz 2.850 9/23/2022 EUR 4.990
Leonteq Securities AG/G 5.000 02/03/2021 EUR 0.520
BNP Paribas Emissions- 7.500 1/28/2021 EUR 66.920
DZ Bank AG Deutsche Zen 5.250 3/24/2021 EUR 69.710
Zurcher Kantonalbank Fi 8.000 5/19/2021 USD 72.590
Raiffeisen Schweiz Geno 6.000 6/30/2021 EUR 58.690
Landesbank Hessen-Thuer 7.770 7/15/2021 EUR 30.710
Bank Julius Baer & Co L 6.300 02/11/2021 EUR 68.050
Leonteq Securities AG/G 10.000 5/28/2021 EUR 62.700
Raiffeisen Schweiz Geno 6.00012/30/2021 CHF 70.660
Vontobel Financial Prod 10.300 3/29/2021 EUR
Skandinaviska Enskilda 7.450 1/15/2025 SEK 68.950
Vontobel Financial Prod 18.500 03/12/2021 EUR
EFG International Finan 5.350 12/06/2022 USD 70.930
Vontobel Financial Prod 6.500 03/12/2021 EUR 73.660
UBS AG/London 3.400 6/24/2021 EUR 62.560
UBS AG/London 3.000 3/25/2021 EUR 61.640
UBS AG/London 8.700 6/24/2021 EUR 65.180
UBS AG/London 7.700 3/25/2021 EUR 66.460
UBS AG/London 6.300 6/24/2021 EUR 68.860
Bank Julius Baer & Co L 5.300 03/08/2021 EUR 61.350
Vontobel Financial Prod 5.000 03/12/2021 EUR 71.790
Vontobel Financial Prod 9.500 03/12/2021 EUR 64.770
Vontobel Financial Prod 11.000 03/12/2021 EUR 67.620
Vontobel Financial Prod 4.900 3/29/2021 EUR 73.070
Skandinaviska Enskilda 6.250 1/15/2025 SEK 72.240
Landesbank Baden-Wuertt 5.500 6/25/2021 EUR 72.480
Landesbank Baden-Wuertt 5.900 7/23/2021 EUR 67.020
Landesbank Baden-Wuertt 5.500 7/23/2021 EUR 66.900
Landesbank Baden-Wuertt 3.000 6/25/2021 EUR 68.440
Landesbank Baden-Wuertt 5.500 6/25/2021 EUR 69.480
UBS AG/London 4.400 3/25/2021 EUR 60.230
UBS AG/London 6.200 3/25/2021 EUR 72.930
UBS AG/London 2.500 3/25/2021 EUR 65.140
UBS AG/London 6.200 3/25/2021 EUR 69.140
UBS AG/London 5.500 3/25/2021 EUR 71.410
UBS AG/London 2.700 3/25/2021 EUR 63.330
UBS AG/London 4.600 3/25/2021 EUR 57.210
UBS AG/London 9.700 3/25/2021 EUR 61.770
UBS AG/London 11.900 3/25/2021 EUR 69.390
Leonteq Securities AG/G 12.200 02/07/2022 USD 72.990
Bank Julius Baer & Co L 8.900 02/12/2021 EUR 72.450
Leonteq Securities AG 13.600 02/10/2021 CHF 3.190
UBS AG/London 5.400 6/24/2021 EUR 75.040
UBS AG/London 4.000 6/24/2021 EUR 68.260
Credit Suisse AG/London 6.000 08/08/2022 CHF 72.740
UBS AG/London 3.800 3/25/2021 EUR 71.620
UBS AG/London 18.100 3/25/2021 EUR 73.470
UBS AG/London 16.900 6/24/2021 EUR 75.970
Bank Julius Baer & Co L 8.900 02/12/2021 CHF 72.450
Bank Julius Baer & Co L 9.500 05/07/2021 EUR 71.650
Araratbank OJSC 5.500 1/29/2024 USD 24.704
UBS AG/London 8.75011/15/2021 CHF 73.400
UniCredit Bank AG 6.900 3/26/2021 EUR 69.550
UniCredit Bank AG 9.20012/24/2021 EUR 67.120
Landesbank Baden-Wuertt 3.600 3/26/2021 EUR 74.070
Landesbank Baden-Wuertt 1.800 4/23/2021 EUR 56.700
Landesbank Baden-Wuertt 4.400 4/23/2021 EUR 50.010
Landesbank Baden-Wuertt 5.700 3/26/2021 EUR 65.810
Landesbank Baden-Wuertt 5.100 3/26/2021 EUR 62.430
Landesbank Baden-Wuertt 1.950 3/26/2021 EUR 67.240
Landesbank Baden-Wuertt 4.500 3/26/2021 EUR 59.140
UniCredit Bank AG 9.600 3/26/2021 EUR 65.160
UniCredit Bank AG 11.900 3/26/2021 EUR 69.060
Bank Julius Baer & Co L 14.750 8/16/2021 EUR 8.250
UniCredit Bank AG 11.400 6/25/2021 EUR 63.900
UniCredit Bank AG 8.40012/24/2021 EUR 68.290
UBS AG/London 6.750 5/14/2021 CHF 73.350
UniCredit Bank AG 5.800 3/26/2021 EUR 72.030
UniCredit Bank AG 10.200 6/25/2021 EUR 65.400
Landesbank Baden-Wuertt 3.250 3/26/2021 EUR 71.270
Landesbank Baden-Wuertt 2.900 4/23/2021 EUR 73.450
UniCredit Bank AG 10.50012/24/2021 EUR 71.100
UniCredit Bank AG 9.500 3/26/2021 EUR 73.330
Vontobel Financial Prod 11.000 05/11/2021 EUR 54.870
UniCredit Bank AG 12.500 3/26/2021 EUR 61.420
UniCredit Bank AG 13.600 3/26/2021 EUR 65.220
UniCredit Bank AG 9.700 3/26/2021 EUR 71.690
UniCredit Bank AG 10.10012/24/2021 EUR 70.590
UBS AG/London 7.250 10/04/2021 CHF 66.800
UniCredit Bank AG 9.30012/24/2021 EUR 71.620
UBS AG/London 7.000 10/04/2021 CHF 69.800
EFG International Finan 5.35010/24/2022 USD 67.260
Credit Suisse AG/London 7.250 4/27/2021 EUR 64.050
UniCredit Bank AG 13.800 3/26/2021 EUR 66.050
UniCredit Bank AG 11.800 6/25/2021 EUR 68.770
DZ Bank AG Deutsche Zen 12.000 2/24/2021 EUR 65.470
UniCredit Bank AG 8.400 3/26/2021 EUR 73.850
UniCredit Bank AG 13.000 6/25/2021 EUR 67.380
DZ Bank AG Deutsche Zen 12.200 2/24/2021 EUR 73.200
Leonteq Securities AG/G 21.800 1/28/2021 USD 14.330
Zurcher Kantonalbank Fi 15.000 06/11/2021 CHF 71.220
UniCredit Bank AG 18.900 3/26/2021 EUR 57.990
Landesbank Baden-Wuertt 5.500 4/23/2021 EUR 65.530
Landesbank Baden-Wuertt 2.950 3/26/2021 EUR 69.770
Landesbank Baden-Wuertt 5.150 3/26/2021 EUR 64.590
DekaBank Deutsche Giroz 4.150 07/01/2022 EUR 59.320
Zurcher Kantonalbank Fi 10.50011/19/2021 CHF 71.380
BNP Paribas Emissions- 3.000 3/25/2021 EUR 70.520
UniCredit Bank AG 12.400 6/25/2021 EUR 66.070
DekaBank Deutsche Giroz 3.400 07/02/2021 EUR 72.450
UniCredit Bank AG 12.400 3/26/2021 EUR 67.780
Skandinaviska Enskilda 10.150 1/15/2025 SEK 69.950
UniCredit Bank AG 11.30012/24/2021 EUR 65.460
UniCredit Bank AG 17.100 3/26/2021 EUR 60.170
Bank Julius Baer & Co L 6.650 5/14/2021 EUR 68.750
Bank Julius Baer & Co L 6.500 2/16/2021 EUR 67.050
UniCredit Bank AG 8.200 3/26/2021 EUR 67.230
Zurcher Kantonalbank Fi 7.000 8/18/2021 CHF 61.350
Zurcher Kantonalbank Fi 6.500 2/19/2021 CHF 66.990
UniCredit Bank AG 10.800 6/25/2021 EUR 72.350
BNP Paribas Emissions- 10.000 9/23/2021 EUR 6.870
UniCredit Bank AG 10.30012/24/2021 EUR 66.690
UniCredit Bank AG 15.800 3/26/2021 EUR 63.710
UniCredit Bank AG 12.900 6/25/2021 EUR 69.250
UniCredit Bank AG 13.200 3/26/2021 EUR 67.180
BNP Paribas Emissions- 5.000 3/25/2021 EUR 72.590
BNP Paribas Emissions- 8.000 3/24/2022 EUR
Barclays Bank PLC 2.730 9/27/2024 EUR 50.260
UBS AG/London 10.50011/15/2021 CHF 73.200
UBS AG/London 11.000 5/14/2021 CHF 57.350
BNP Paribas Emissions- 5.000 6/24/2021 EUR 73.220
BNP Paribas Emissions- 5.000 9/23/2021 EUR 74.070
UniCredit Bank AG 15.300 6/25/2021 EUR 62.210
UniCredit Bank AG 16.700 6/25/2021 EUR 60.650
UniCredit Bank AG 15.300 3/26/2021 EUR 62.420
UniCredit Bank AG 11.000 3/26/2021 EUR 69.650
UniCredit Bank AG 13.000 6/25/2021 EUR 56.890
UniCredit Bank AG 10.90012/24/2021 EUR 72.250
UniCredit Bank AG 10.200 6/25/2021 EUR 47.220
UniCredit Bank AG 7.80012/24/2021 EUR 62.250
UniCredit Bank AG 8.10012/24/2021 EUR 51.580
UniCredit Bank AG 13.600 6/25/2021 EUR 62.620
UniCredit Bank AG 12.300 6/25/2021 EUR 71.740
UniCredit Bank AG 6.000 6/25/2021 EUR 68.460
UniCredit Bank AG 6.50012/24/2021 EUR 72.490
Credit Suisse AG/London 13.00011/30/2021 USD 70.060
UniCredit Bank AG 9.90012/24/2021 EUR 60.180
UniCredit Bank AG 12.300 6/25/2021 EUR 44.360
UniCredit Bank AG 9.70012/24/2021 EUR 49.220
UniCredit Bank AG 8.90012/24/2021 EUR 50.320
UniCredit Bank AG 11.20012/24/2021 EUR 47.350
UniCredit Bank AG 11.200 6/25/2021 EUR 45.670
UniCredit Bank AG 9.70012/24/2021 EUR 70.710
UniCredit Bank AG 12.800 6/25/2021 EUR 73.310
UniCredit Bank AG 11.000 6/25/2021 EUR 56.710
UniCredit Bank AG 8.300 6/25/2021 EUR 62.630
UniCredit Bank AG 11.10012/24/2021 EUR 65.520
UniCredit Bank AG 12.000 6/25/2021 EUR 55.020
UniCredit Bank AG 11.40012/24/2021 EUR 58.000
UniCredit Bank AG 12.90012/24/2021 EUR 56.230
UniCredit Bank AG 10.00012/24/2021 EUR 58.120
UniCredit Bank AG 11.700 6/25/2021 EUR 68.220
UniCredit Bank AG 9.800 6/25/2021 EUR 71.570
UniCredit Bank AG 9.10012/24/2021 EUR 61.370
UniCredit Bank AG 12.000 6/25/2021 EUR 65.250
Landesbank Hessen-Thuer 6.000 03/06/2025 EUR 52.940
Credit Suisse AG/London 8.500 1/25/2021 EUR 58.570
Zurcher Kantonalbank Fi 9.000 11/05/2021 EUR 72.540
Nordea Bank Abp 7.000 7/20/2024 SEK 72.240
UBS AG/London 8.000 11/08/2021 CHF 59.000
UBS AG/London 10.000 05/06/2021 EUR 74.000
Leonteq Securities AG/G 3.400 3/20/2024 CHF 38.080
Leonteq Securities AG/G 8.800 05/07/2021 EUR 65.330
Societe Generale Effekt 12.240 6/25/2021 EUR 66.560
Societe Generale Effekt 13.47912/24/2021 EUR 67.990
Credit Suisse AG/London 6.250 3/26/2021 EUR 55.520
Zurcher Kantonalbank Fi 7.000 2/21/2022 CHF 70.890
SG Issuer SA 6.940 1/20/2025 SEK 72.420
EFG International Finan 5.35011/29/2022 USD 70.600
Raiffeisen Schweiz Geno 7.060 06/02/2021 USD 57.400
DZ Bank AG Deutsche Zen 4.750 9/20/2021 EUR 74.440
Credit Suisse AG/London 7.000 5/31/2021 CHF 70.940
Zurcher Kantonalbank Fi 6.000 2/18/2021 CHF 65.790
Vontobel Financial Prod 10.00012/24/2021 EUR 72.410
UBS AG/London 7.250 6/28/2021 EUR 73.150
Landesbank Baden-Wuertt 2.600 1/26/2024 EUR 72.770
UBS AG/London 5.75012/27/2021 CHF 68.550
UBS AG/London 10.00012/27/2021 CHF 73.150
Zurcher Kantonalbank Fi 5.000 8/18/2021 CHF 61.920
Raiffeisen Schweiz Geno 12.150 3/24/2021 CHF 11.870
Leonteq Securities AG 11.000 01/03/2022 CHF 62.140
DZ Bank AG Deutsche Zen 6.250 3/22/2021 EUR 64.130
Leonteq Securities AG/G 7.000 06/02/2022 CHF 73.680
Raiffeisen Schweiz Geno 7.000 08/10/2021 CHF 68.960
EFG International Finan 11.12012/27/2024 EUR 59.510
EFG International Finan 12.00012/31/2021 USD 67.680
UBS AG/London 9.50011/29/2021 CHF 71.900
UniCredit Bank AG 4.65012/22/2023 EUR 71.610
UBS AG/London 7.00011/29/2021 EUR 57.650
EFG International Finan 17.800 5/27/2021 USD 8.520
Bank Julius Baer & Co L 7.420 02/08/2021 EUR 55.300
Vontobel Financial Prod 19.500 6/25/2021 EUR 68.130
Vontobel Financial Prod 9.500 3/26/2021 EUR 65.870
Vontobel Financial Prod 7.500 3/26/2021 EUR 68.210
Vontobel Financial Prod 5.500 3/26/2021 EUR 70.780
EFG International Finan 9.000 9/20/2021 EUR 60.600
UBS AG/London 7.500 9/20/2021 CHF 57.600
UniCredit Bank AG 6.400 6/25/2021 EUR 67.600
Landesbank Baden-Wuertt 3.600 6/23/2023 EUR 58.190
SG Issuer SA 6.130 1/20/2024 SEK 73.620
Landesbank Baden-Wuertt 2.10010/27/2023 EUR 62.980
UBS AG/London 12.750 9/27/2021 CHF 69.850
Leonteq Securities AG 7.500 11/08/2022 CHF 70.140
DekaBank Deutsche Giroz 2.400 6/17/2022 EUR 67.190
Leonteq Securities AG/G 6.00011/23/2021 CHF 55.460
Raiffeisen Schweiz Geno 8.600 4/21/2021 CHF 58.250
Bayerische Landesbank 2.050 7/23/2021 EUR 65.130
Corner Banca SA 12.200 4/21/2021 USD 70.630
UBS AG/London 7.000 9/27/2021 CHF 68.500
Citigroup Global Market 6.01010/23/2024 RUB
Raiffeisen Schweiz Geno 4.40010/21/2021 CHF 51.130
Landesbank Hessen-Thuer 6.500 07/05/2024 EUR 65.740
Raiffeisen Schweiz Geno 3.20012/18/2026 CHF 64.810
Raiffeisen Schweiz Geno 10.00012/31/2024 CHF 72.220
Leonteq Securities AG 3.600 9/22/2026 CHF 54.180
Raiffeisen Schweiz Geno 2.700 9/22/2026 CHF 50.150
DekaBank Deutsche Giroz 7.250 04/01/2021 EUR 1.960
UBS AG/London 7.50011/14/2025 USD 9.850
DZ Bank AG Deutsche Zen 9.000 3/24/2021 EUR 60.100
Goldman Sachs & Co Wert 13.000 3/24/2021 EUR 70.500
Goldman Sachs & Co Wert 5.000 3/24/2021 EUR 67.170
DekaBank Deutsche Giroz 3.750 2/26/2021 EUR 0.830
Goldman Sachs & Co Wert 7.000 3/24/2021 EUR 59.970
Goldman Sachs & Co Wert 22.000 3/24/2021 EUR 74.830
Leonteq Securities AG/G 14.550 3/24/2021 EUR 3.100
Leonteq Securities AG/G 17.610 3/24/2021 EUR 3.580
DekaBank Deutsche Giroz 3.65010/15/2021 EUR 3.020
Leonteq Securities AG/G 15.18012/27/2021 EUR 15.240
Nutritek International 8.750 12/11/2008 USD 2.089
Lehman Brothers Treasur 2.500 8/23/2012 GBP 0.100
Lehman Brothers Treasur 3.000 8/13/2011 EUR 0.100
Kaupthing ehf 3.750 2/15/2024 ISK 0.250
Lehman Brothers Treasur 3.400 9/21/2009 HKD 0.100
Lehman Brothers Treasur 4.000 10/12/2010 USD 0.100
Lehman Brothers Treasur 7.00010/22/2010 EUR 0.100
Lehman Brothers Treasur 8.00010/23/2008 USD 0.100
Lehman Brothers Treasur 4.100 06/10/2014 SGD 0.100
Lehman Brothers Treasur 6.000 9/20/2011 EUR 0.100
Lehman Brothers Treasur 1.500 10/12/2010 EUR 0.100
ECM Real Estate Investm 5.000 10/09/2011 EUR 15.375
Lehman Brothers Treasur 11.00012/20/2017 AUD 0.100
Lehman Brothers Treasur 11.00012/20/2017 AUD 0.100
Lehman Brothers Treasur 0.50012/20/2017 AUD 0.100
Lehman Brothers Treasur 0.50012/20/2017 USD 0.100
Lehman Brothers Treasur 10.000 2/16/2009 CHF 0.100
Lehman Brothers Treasur 6.30012/21/2018 USD 0.100
Lehman Brothers Treasur 11.000 2/16/2009 CHF 0.100
Lehman Brothers Treasur 7.000 2/15/2010 CHF 0.100
Kaupthing ehf 4.73012/19/2008 SKK 0.250
Lehman Brothers Treasur 8.80012/27/2009 EUR 0.100
Lehman Brothers Treasur 14.90011/16/2010 EUR 0.100
Lehman Brothers Treasur 16.000 10/08/2008 CHF 0.100
Lehman Brothers Treasur 8.00012/31/2010 USD 0.100
Lehman Brothers Treasur 0.50012/20/2017 USD 0.100
Lehman Brothers Treasur 0.50012/20/2017 AUD 0.100
Lehman Brothers Treasur 0.50012/20/2017 AUD 0.100
Lehman Brothers Treasur 9.30012/21/2010 EUR 0.100
Lehman Brothers Treasur 4.000 01/04/2011 USD 0.100
Lehman Brothers Treasur 0.50012/20/2017 AUD 0.100
Lehman Brothers Treasur 0.50012/20/2017 AUD 0.100
Lehman Brothers Treasur 5.375 02/04/2014 USD 0.100
Lehman Brothers Treasur 0.80012/30/2016 EUR 0.100
Banca Popolare di Vicen 9.500 10/02/2025 EUR 0.011
Lehman Brothers Treasur 3.35010/13/2016 EUR 0.100
Lehman Brothers Treasur 6.000 5/23/2018 CZK 0.100
Lehman Brothers Treasur 4.000 5/17/2010 USD 0.100
Kaupthing ehf 5.250 7/18/2017 BGN 0.250
Lehman Brothers Treasur 6.000 3/18/2015 USD 0.100
Lehman Brothers Treasur 1.000 2/26/2010 USD 0.100
Lehman Brothers Treasur 5.200 11/09/2011 EUR 0.100
Lehman Brothers Treasur 4.80011/16/2012 HKD 0.100
Lehman Brothers Treasur 4.600 10/11/2017 ILS 0.100
Lehman Brothers Treasur 3.50012/20/2027 USD 0.100
Lehman Brothers Treasur 13.000 7/25/2012 EUR 0.100
Lehman Brothers Treasur 18.250 10/02/2008 USD 0.100
Lehman Brothers Treasur 2.250 05/12/2009 USD 0.100
Lehman Brothers Treasur 4.000 5/30/2010 USD 0.100
Lehman Brothers Treasur 2.480 05/12/2009 USD 0.100
HSBC Bank PLC 0.500 6/23/2027 MXN 66.349
Lehman Brothers Treasur 7.58511/22/2009 MXN 0.100
Lehman Brothers Treasur 4.00011/24/2016 EUR 0.100
Getin Noble Bank SA 5.25011/30/2023 PLN 72.000
Lehman Brothers Treasur 8.000 08/03/2009 USD 0.100
Lehman Brothers Treasur 5.500 6/15/2009 CHF 0.100
Lehman Brothers Treasur 11.000 6/29/2009 EUR 0.100
Lehman Brothers Treasur 1.50010/25/2011 EUR 0.100
Lehman Brothers Treasur 5.500 4/23/2014 EUR 0.100
Lehman Brothers Treasur 1.600 6/21/2010 JPY 0.100
Lehman Brothers Treasur 6.450 2/20/2010 AUD 0.100
Lehman Brothers Treasur 6.600 5/23/2012 AUD 0.100
Lehman Brothers Treasur 9.000 05/06/2011 CHF 0.100
Lehman Brothers Treasur 7.600 03/04/2010 NZD 0.100
Kaupthing ehf 7.625 2/28/2015 USD 0.250
Lehman Brothers Treasur 7.150 3/21/2013 USD 0.100
Lehman Brothers Treasur 6.000 03/04/2015 USD 0.100
Lehman Brothers Treasur 10.000 5/22/2009 USD 0.100
Lehman Brothers Treasur 4.600 08/01/2013 EUR 0.100
Lehman Brothers Treasur 15.000 06/04/2009 CHF 0.100
Kaupthing ehf 2.775 05/10/2045 ISK 0.250
Lehman Brothers Treasur 10.44211/22/2008 CHF 0.100
Lehman Brothers Treasur 8.000 5/22/2009 USD 0.100
Lehman Brothers Treasur 17.000 06/02/2009 USD 0.100
Lehman Brothers Treasur 13.500 06/02/2009 USD 0.100
Lehman Brothers Treasur 5.00011/22/2012 EUR 0.100
RGS Nedvizhimost OOO 12.00010/18/2017 RUB 0.335
Lehman Brothers Treasur 5.500 6/22/2010 USD 0.100
Lehman Brothers Treasur 3.450 5/23/2013 USD 0.100
Lehman Brothers Treasur 7.500 2/14/2010 AUD 0.100
Lehman Brothers Treasur 10.00010/22/2008 USD 0.100
Lehman Brothers Treasur 16.00010/28/2008 USD 0.100
Lehman Brothers Treasur 3.500 6/20/2011 EUR 0.100
Lehman Brothers Treasur 7.600 1/31/2013 AUD 0.100
Lehman Brothers Treasur 11.750 03/01/2010 EUR 0.100
Lehman Brothers Treasur 8.000 3/21/2018 USD 0.100
Lehman Brothers Treasur 4.000 03/10/2011 EUR 0.100
Lehman Brothers Treasur 8.000 3/19/2012 USD 0.100
Lehman Brothers Treasur 13.432 01/08/2009 ILS 0.100
Landesbank Hessen-Thuer 4.000 5/15/2023 EUR 66.980
Erste Group Bank AG 5.80010/31/2024 EUR 65.750
DekaBank Deutsche Giroz 4.000 11/05/2021 EUR 66.660
Raiffeisen Schweiz Geno 5.000 9/13/2022 CHF 69.850
EFG International Finan 12.530 3/18/2021 CHF 66.660
Raiffeisen Switzerland 7.700 3/16/2021 EUR 65.080
UniCredit Bank AG 6.250 11/04/2021 EUR 71.420
Leonteq Securities AG 6.600 10/12/2021 CHF 54.730
EFG International Finan 14.000 3/18/2021 USD 67.100
Zurcher Kantonalbank Fi 6.50010/15/2021 CHF 72.540
Rosbank PJSC 0.030 4/30/2024 RUB 65.000
UBS AG/London 7.000 10/11/2021 CHF 59.150
Leonteq Securities AG 10.800 10/11/2021 CHF 70.590
UBS AG/London 8.400 3/25/2021 EUR 69.220
DekaBank Deutsche Giroz 3.200 11/04/2022 EUR 70.700
UBS AG/London 4.800 3/25/2021 EUR 64.230
UBS AG/London 5.300 3/25/2021 EUR 61.570
Leonteq Securities AG 7.500 10/04/2021 CHF 72.520
EFG International Finan 0.600 09/06/2022 EUR 66.900
UBS AG/London 6.000 9/23/2021 EUR 64.400
UBS AG/London 5.200 9/23/2021 EUR 66.500
Nordea Bank Abp 7.450 7/20/2024 SEK 73.370
Zurcher Kantonalbank Fi 7.750 09/09/2021 EUR 70.680
UBS AG/London 3.900 3/25/2021 EUR 65.390
WEB Windenergie AG 6.500 EUR 0.010
Raiffeisen Centrobank A 6.000 10/07/2021 EUR 69.080
UBS AG/London 7.000 9/13/2021 CHF 66.600
Landesbank Hessen-Thuer 2.700 09/12/2023 EUR 71.760
Skandinaviska Enskilda 6.350 7/15/2024 SEK 71.370
UBS AG/London 7.750 9/13/2021 EUR 58.150
UBS AG/London 8.500 9/13/2021 EUR 65.300
SG Issuer SA 5.000 07/10/2021 EUR 12.500
EFG International Finan 8.80010/15/2021 CHF 69.740
EFG International Finan 10.40010/15/2021 EUR 50.980
Zurcher Kantonalbank Fi 8.00010/22/2021 EUR 59.610
Zurcher Kantonalbank Fi 10.250 4/23/2021 CHF 65.250
DekaBank Deutsche Giroz 2.800 1/13/2023 EUR 72.190
Raiffeisen Schweiz Geno 5.20012/20/2021 CHF 71.470
Credit Suisse AG/London 8.750 6/23/2021 EUR 60.440
DZ Bank AG Deutsche Zen 12.100 3/26/2021 EUR 71.070
Zurcher Kantonalbank Fi 8.000 5/16/2022 CHF 63.830
Landesbank Baden-Wuertt 5.000 7/23/2021 EUR 51.330
Landesbank Baden-Wuertt 4.000 6/25/2021 EUR 56.350
SG Issuer SA 0.35011/15/2023 EUR 18.340
Landesbank Baden-Wuertt 3.000 6/25/2021 EUR 67.890
Landesbank Baden-Wuertt 6.500 6/25/2021 EUR 52.410
Landesbank Baden-Wuertt 5.500 6/25/2021 EUR 70.550
Leonteq Securities AG/G 15.000 2/25/2021 EUR 3.460
Leonteq Securities AG 13.200 5/25/2021 CHF 72.040
Leonteq Securities AG/G 7.42011/22/2021 EUR 59.700
Bayerische Landesbank 2.500 7/22/2022 EUR 65.470
Leonteq Securities AG 5.000 8/23/2021 CHF 73.750
Leonteq Securities AG/G 10.000 05/10/2021 EUR 52.300
DekaBank Deutsche Giroz 3.000 9/24/2021 EUR 56.200
Raiffeisen Schweiz Geno 8.000 5/14/2021 CHF 54.420
Corner Banca SA 8.620 8/30/2021 CHF 72.810
Leonteq Securities AG/G 8.150 09/02/2021 CHF 46.180
Zurcher Kantonalbank Fi 5.500 03/10/2021 CHF 72.410
Landesbank Baden-Wuertt 4.10010/22/2021 EUR 70.510
Landesbank Baden-Wuertt 5.05010/22/2021 EUR 68.620
Zurcher Kantonalbank Fi 10.875 5/27/2021 EUR 69.870
Landesbank Baden-Wuertt 2.50010/22/2021 EUR 65.240
Landesbank Baden-Wuertt 2.95010/22/2021 EUR 70.590
UBS AG/London 7.250 09/06/2021 CHF 58.600
Societe Generale SA 14.220 5/13/2021 USD 43.300
BNP Paribas Emissions- 5.000 06/04/2021 EUR 53.630
Landesbank Baden-Wuertt 3.05010/22/2021 EUR 73.190
Landesbank Baden-Wuertt 1.20010/22/2021 EUR 70.220
Landesbank Baden-Wuertt 2.90010/22/2021 EUR 68.860
UBS AG/London 11.000 5/17/2021 USD 57.980
Leonteq Securities AG/G 8.000 5/14/2021 CHF 55.660
EFG International Finan 7.000 09/06/2021 EUR 71.770
Zurcher Kantonalbank Fi 10.750 5/21/2021 CHF 62.290
Zurcher Kantonalbank Fi 14.000 5/21/2021 CHF 66.590
DZ Bank AG Deutsche Zen 7.200 3/26/2021 EUR 64.190
Zurcher Kantonalbank Fi 5.500 6/30/2022 CHF 71.120
Citigroup Global Market 3.850 8/22/2022 EUR 70.600
Raiffeisen Schweiz Geno 5.250 8/16/2022 CHF 73.420
UBS AG/London 7.000 8/23/2021 EUR 58.250
UBS AG/London 5.500 8/23/2021 CHF 66.650
Leonteq Securities AG/G 7.000 8/23/2021 EUR 72.490
UBS AG/London 10.750 05/07/2021 USD 52.500
Skandinaviska Enskilda 5.520 7/15/2024 SEK 72.540
Landesbank Hessen-Thuer 4.000 6/14/2023 EUR 69.920
UBS AG/London 7.000 8/30/2021 CHF 65.800
Raiffeisen Schweiz Geno 5.000 05/10/2022 CHF 72.280
Raiffeisen Schweiz Geno 5.550 03/03/2021 CHF 70.320
DekaBank Deutsche Giroz 4.000 1/14/2022 EUR 66.320
EFG International Finan 5.35012/27/2022 USD 69.640
Credit Suisse AG/London 6.000 6/24/2022 CHF 72.860
DZ Bank AG Deutsche Zen 9.000 3/26/2021 EUR 71.170
DZ Bank AG Deutsche Zen 9.900 3/26/2021 EUR 71.420
DZ Bank AG Deutsche Zen 10.900 3/26/2021 EUR 65.090
Metalloinvest Holding C 0.010 03/07/2022 RUB 70.010
UBS AG/London 7.750 5/24/2021 EUR 52.900
Bank Julius Baer & Co L 9.000 1/25/2021 EUR 56.550
Zurcher Kantonalbank Fi 6.500 7/22/2021 CHF 72.940
Zurcher Kantonalbank Fi 9.500 7/22/2021 EUR 52.440
Credit Suisse AG/London 6.000 7/13/2022 CHF 73.240
DZ Bank AG Deutsche Zen 4.250 3/24/2021 EUR 69.020
DZ Bank AG Deutsche Zen 6.500 3/24/2021 EUR 69.380
DZ Bank AG Deutsche Zen 4.500 3/24/2021 EUR 73.150
DZ Bank AG Deutsche Zen 8.500 3/24/2021 EUR 66.420
Zurcher Kantonalbank Fi 10.750 1/21/2022 CHF 61.210
Landesbank Baden-Wuertt 5.000 7/23/2021 EUR 62.990
Landesbank Baden-Wuertt 2.000 6/25/2021 EUR 72.410
Landesbank Baden-Wuertt 3.500 6/25/2021 EUR 69.240
Landesbank Baden-Wuertt 5.000 6/25/2021 EUR 56.220
Leonteq Securities AG 17.400 2/25/2021 CHF 74.680
Leonteq Securities AG/G 4.89011/26/2021 USD 61.090
EFG International Finan 10.85011/29/2024 USD 68.480
DZ Bank AG Deutsche Zen 5.100 3/22/2021 EUR 68.670
Bank Julius Baer & Co L 8.000 2/26/2021 CHF 54.400
Leonteq Securities AG 14.000 2/26/2021 CHF 11.160
Raiffeisen Schweiz Geno 5.60011/22/2021 EUR 72.320
Raiffeisen Schweiz Geno 4.00011/22/2022 CHF 73.210
Raiffeisen Schweiz Geno 9.000 5/25/2021 CHF 57.380
BNP Paribas Emissions- 13.000 6/24/2021 EUR 57.840
BNP Paribas Emissions- 6.000 6/24/2021 EUR 72.400
BNP Paribas Emissions- 7.000 6/24/2021 EUR 68.660
BNP Paribas Emissions- 8.000 6/24/2021 EUR 65.250
BNP Paribas Emissions- 9.500 6/24/2021 EUR 62.400
BNP Paribas Emissions- 5.000 6/24/2021 EUR 68.370
BNP Paribas Emissions- 12.000 6/24/2021 EUR 73.130
Zurcher Kantonalbank Fi 6.000 12/06/2021 CHF 68.370
Astana Finance BV 9.00011/16/2011 USD 15.250
Lehman Brothers Treasur 2.50012/15/2011 GBP 0.100
Credito Padano Banca di 3.100 EUR 34.062
BNP Paribas SA 1.000 1/23/2040 MXN 22.829
Lehman Brothers Treasur 5.000 4/24/2017 EUR 0.100
Lehman Brothers Treasur 13.50011/28/2008 USD 0.100
Lehman Brothers Treasur 4.050 9/16/2008 EUR 0.100
Lehman Brothers Treasur 1.680 03/05/2015 EUR 0.100
Lehman Brothers Treasur 3.50010/31/2011 USD 0.100
Lehman Brothers Treasur 14.900 9/15/2008 EUR 0.100
Lehman Brothers Treasur 3.50010/24/2011 USD 0.100
Espirito Santo Financia 5.625 7/28/2017 EUR 0.843
Lehman Brothers Treasur 6.750 04/05/2012 EUR 0.100
Lehman Brothers Treasur 0.25010/19/2012 CHF 0.100
Lehman Brothers Treasur 12.000 07/04/2011 EUR 0.100
Kaupthing ehf 9.750 09/10/2015 USD 0.250
Lehman Brothers Treasur 8.280 3/26/2009 USD 0.100
Lehman Brothers Treasur 7.55012/29/2008 USD 0.100
Lehman Brothers Treasur 8.00012/27/2032 JPY 0.100
Lehman Brothers Treasur 1.500 02/08/2012 CHF 0.100
Lehman Brothers Treasur 5.120 4/30/2027 EUR 0.100
Lehman Brothers Treasur 0.000 9/21/2010 JPY 0.100
Lehman Brothers Treasur 2.000 6/21/2011 EUR 0.100
Heta Asset Resolution A 0.18712/31/2023 EUR 2.078
Kaupthing ehf 7.000 7/24/2009 ISK 0.250
LBI ehf 8.650 05/01/2011 ISK 8.625
Kuntarahoitus Oyj 0.250 6/28/2040 CAD 38.453
Otkritie Holding JSC 10.000 4/20/2028 RUB 2.300
Lehman Brothers Treasur 4.50012/30/2010 USD 0.100
Lehman Brothers Treasur 7.000 07/11/2010 EUR 0.100
Lehman Brothers Treasur 6.000 12/06/2016 USD 0.100
Lehman Brothers Treasur 6.000 7/28/2010 EUR 0.100
Lehman Brothers Treasur 4.150 8/25/2020 EUR 0.100
Lehman Brothers Treasur 3.630 03/02/2012 EUR 0.100
Lehman Brothers Treasur 4.500 03/07/2015 EUR 0.100
Ideal Standard Internat 11.750 05/01/2018 EUR 0.050
Lehman Brothers Treasur 3.025 1/31/2015 EUR 0.100
Lehman Brothers Treasur 0.750 3/29/2012 EUR 0.100
EDOB Abwicklungs AG 7.500 04/01/2012 EUR 2.000
Lehman Brothers Treasur 6.000 7/28/2010 EUR 0.100
Northland Resources AB 12.250 3/26/2016 USD 2.621
Lehman Brothers Treasur 13.000 2/16/2009 CHF 0.100
Lehman Brothers Treasur 0.50012/20/2017 USD 0.100
Lehman Brothers Treasur 0.50012/20/2017 USD 0.100
Santander Consumer Bank 5.160 NOK 58.614
Lehman Brothers Treasur 8.05012/20/2010 HKD 0.100
Lehman Brothers Treasur 7.750 2/21/2016 EUR 0.100
Lehman Brothers Treasur 7.06012/29/2008 EUR 0.100
Lehman Brothers Treasur 6.72012/29/2008 EUR 0.100
Lehman Brothers Treasur 4.100 8/23/2010 USD 0.100
MIK OAO 15.000 2/19/2020 RUB 13.875
Lehman Brothers Treasur 3.600 3/19/2018 JPY 0.100
Kaupthing ehf 7.500 12/05/2014 ISK 0.250
Lehman Brothers Treasur 2.300 6/27/2013 USD 0.100
Irish Bank Resolution C 4.000 4/23/2018 EUR 33.250
Teksid Aluminum Luxembo 12.375 7/15/2011 EUR 0.122
SG Issuer SA 3.300 9/26/2034 ZAR 49.333
Espirito Santo Financia 0.34910/27/2024 EUR 0.304
Lehman Brothers Treasur 2.370 7/15/2013 USD 0.100
Kaupthing ehf 6.500 10/08/2010 ISK 0.250
Lehman Brothers Treasur 4.100 5/20/2009 USD 0.100
Lehman Brothers Treasur 2.000 5/17/2010 EUR 0.100
Lehman Brothers Treasur 4.000 2/28/2010 EUR 0.100
Heta Asset Resolution A 5.03012/31/2023 EUR 2.078
Lehman Brothers Treasur 6.600 02/09/2009 EUR 0.100
Heta Asset Resolution A 5.73012/31/2023 EUR 2.078
Lehman Brothers Treasur 7.625 7/22/2011 HKD 0.100
Cerruti Finance SA 6.500 7/26/2004 EUR 2.061
Lehman Brothers Treasur 6.85012/22/2008 EUR 0.100
Lehman Brothers Treasur 7.600 3/26/2009 EUR 0.100
Lehman Brothers Treasur 0.010 9/20/2011 USD 0.100
Kaupthing ehf 1.615 ISK 0.250
Lehman Brothers Treasur 3.82010/20/2009 USD 0.100
Kaupthing ehf 4.39010/14/2008 CZK 0.250
Lehman Brothers Treasur 7.750 01/03/2012 AUD 0.100
Lehman Brothers Treasur 0.500 07/02/2020 EUR 0.100
Lehman Brothers Treasur 3.100 06/04/2010 USD 0.100
Lehman Brothers Treasur 0.500 08/01/2020 EUR 0.100
Lehman Brothers Treasur 10.00010/23/2008 USD 0.100
Lehman Brothers Treasur 5.500 07/08/2013 EUR 0.100
Lehman Brothers Treasur 0.500 06/02/2020 EUR 0.100
Lehman Brothers Treasur 7.500 5/30/2010 AUD 0.100
Lehman Brothers Treasur 4.300 06/04/2012 USD 0.100
Lehman Brothers Treasur 4.000 06/05/2011 USD 0.100
Lehman Brothers Treasur 7.250 07/08/2014 EUR 0.100
Lehman Brothers Treasur 2.300 06/06/2013 USD 0.100
Lehman Brothers Treasur 1.460 2/19/2012 JPY 0.100
Lehman Brothers Treasur 2.000 6/28/2011 EUR 0.100
Lehman Brothers Treasur 7.600 5/21/2013 USD 0.100
Lehman Brothers Treasur 10.000 6/17/2009 USD 0.100
Lehman Brothers Treasur 13.15010/30/2008 USD 0.100
Lehman Brothers Treasur 2.500 8/15/2012 CHF 0.100
KPNQwest NV 7.125 06/01/2009 EUR 0.068
Lehman Brothers Treasur 6.250 09/05/2011 EUR 0.100
Lehman Brothers Treasur 16.800 8/21/2009 USD 0.100
Lehman Brothers Treasur 14.100 11/12/2008 USD 0.100
Lehman Brothers Treasur 6.000 08/07/2013 EUR 0.100
Waste Italia SpA 10.50011/15/2019 EUR 0.727
Lehman Brothers Treasur 11.00012/19/2011 USD 0.100
Lehman Brothers Treasur 15.000 3/30/2011 EUR 0.100
Lehman Brothers Treasur 6.600 2/22/2012 EUR 0.100
Lehman Brothers Treasur 6.000 2/14/2012 EUR 0.100
Lehman Brothers Treasur 4.690 2/19/2017 EUR 0.100
Lehman Brothers Treasur 1.750 02/07/2010 EUR 0.100
Lehman Brothers Treasur 7.000 2/15/2012 EUR 0.100
Lehman Brothers Treasur 5.200 3/19/2018 EUR 0.100
Deutsche Bank AG/London 2.00010/25/2023 TRY 63.967
Kaupthing ehf 5.000 01/04/2027 SKK 0.250
Lehman Brothers Treasur 4.82012/18/2036 EUR 0.100
Lehman Brothers Treasur 12.000 7/13/2037 JPY 0.100
Lehman Brothers Treasur 10.000 06/11/2038 JPY 0.100
Lehman Brothers Treasur 4.200 12/03/2008 HKD 0.100
Lehman Brothers Treasur 8.875 1/28/2011 HKD 0.100
LBI ehf 5.080 03/01/2013 ISK 8.625
Heta Asset Resolution A 5.27012/31/2023 EUR 2.078
Credit Suisse AG/London 0.500 01/08/2026 BRL 66.294
Lehman Brothers Treasur 11.25012/31/2008 USD 0.100
Lehman Brothers Treasur 3.000 09/12/2036 JPY 0.100
Lehman Brothers Treasur 5.250 04/01/2023 EUR 0.100
Lehman Brothers Treasur 6.700 4/21/2011 USD 0.100
Lehman Brothers Treasur 13.00012/14/2012 USD 0.100
Lehman Brothers Treasur 4.680 12/12/2045 EUR 0.100
Getin Noble Bank SA 5.280 1/31/2024 PLN 68.000
Lehman Brothers Treasur 5.000 05/02/2022 EUR 0.100
Lehman Brothers Treasur 16.00012/26/2008 USD 0.100
Lehman Brothers Treasur 11.000 07/04/2011 USD 0.100
Lehman Brothers Treasur 11.000 07/04/2011 CHF 0.100
Lehman Brothers Treasur 5.550 03/12/2015 EUR 0.100
Lehman Brothers Treasur 3.000 06/03/2010 EUR 0.100
Lehman Brothers Treasur 12.400 06/12/2009 USD 0.100
Lehman Brothers Treasur 23.300 9/16/2008 USD 0.100
Lehman Brothers Treasur 2.400 6/20/2011 JPY 0.100
Lehman Brothers Treasur 7.000 4/24/2009 USD 0.100
Lehman Brothers Treasur 16.000 11/09/2008 USD 0.100
Lehman Brothers Treasur 10.600 4/22/2014 MXN 0.100
Lehman Brothers Treasur 16.200 5/14/2009 USD 0.100
Lehman Brothers Treasur 1.000 05/09/2012 EUR 0.100
SG Issuer SA 3.000 10/10/2034 ZAR 47.033
Kaupthing ehf 3.750 02/01/2045 USD 0.232
Lehman Brothers Treasur 8.600 7/31/2013 GBP 0.100
Lehman Brothers Treasur 8.280 7/31/2013 GBP 0.100
Lehman Brothers Treasur 7.500 7/31/2013 GBP 0.100
Lehman Brothers Treasur 7.320 7/31/2013 GBP 0.100
Lehman Brothers Treasur 1.280 11/06/2010 JPY 0.100
Lehman Brothers Treasur 1.950 11/04/2013 EUR 0.100
Instabank ASA 5.500 3/28/2028 NOK 64.574
Laurel GmbH 7.12511/16/2017 EUR 7.750
Mriya Agro Holding PLC 10.950 3/30/2016 USD 5.000
IT Holding Finance SA 9.87511/15/2012 EUR 0.231
AKB Peresvet ZAO 13.250 4/25/2018 RUB 19.625
Lehman Brothers Treasur 3.000 9/13/2010 JPY 0.100
Lehman Brothers Treasur 3.860 9/21/2011 SGD 0.100
Lehman Brothers Treasur 10.000 3/27/2009 USD 0.100
Lehman Brothers Treasur 0.250 7/21/2014 EUR 0.100
Lehman Brothers Treasur 7.750 1/30/2009 EUR 0.100
Lehman Brothers Treasur 2.00010/28/2010 EUR 0.100
Lehman Brothers Treasur 7.00011/28/2008 CHF 0.100
Lehman Brothers Treasur 5.750 6/15/2009 CHF 0.100
Lehman Brothers Treasur 4.000 4/13/2011 CHF 0.100
Lehman Brothers Treasur 3.850 4/24/2009 USD 0.100
Lehman Brothers Treasur 10.500 08/09/2010 EUR 0.100
Lehman Brothers Treasur 5.00010/24/2008 CHF 0.100
Lehman Brothers Treasur 4.000 4/24/2009 USD 0.100
Lehman Brothers Treasur 8.500 07/06/2009 CHF 0.100
IT Holding Finance SA 9.87511/15/2012 EUR 0.231
Lehman Brothers Treasur 9.250 6/20/2012 USD 0.100
Nota-Bank OJSC 13.500 04/01/2016 RUB 31.500
Lehman Brothers Treasur 4.350 08/08/2016 SGD 0.100
Lehman Brothers Treasur 4.500 03/06/2013 CHF 0.100
Lehman Brothers Treasur 4.500 08/02/2009 USD 0.100
Lehman Brothers Treasur 4.870 10/08/2013 USD 0.100
Lehman Brothers Treasur 4.000 12/02/2012 EUR 0.100
Lehman Brothers Treasur 3.700 06/06/2009 EUR 0.100
Northland Resources AB 15.000 7/15/2019 USD 2.621
Heta Asset Resolution A 7.50012/31/2023 ATS 2.078
Lehman Brothers Treasur 5.25011/21/2009 USD 0.100
Deutsche Bank AG/London 0.500 04/05/2038 MXN 24.204
Lehman Brothers Treasur 0.500 2/16/2009 EUR 0.100
Lehman Brothers Treasur 4.250 3/13/2021 EUR 0.100
Lehman Brothers Treasur 3.000 08/08/2017 EUR 0.100
Rosbank PJSC 0.040 4/30/2024 RUB 65.000
LBI ehf 2.250 2/14/2011 CHF 8.625
Lehman Brothers Treasur 6.000 3/17/2011 EUR 0.100
Petromena ASA 9.750 5/24/2016 NOK 0.607
Rosbank PJSC 0.010 4/30/2024 RUB 65.000
Instabank ASA 9.380 NOK 57.265
Lehman Brothers Treasur 8.000 4/20/2009 EUR 0.100
Rosbank PJSC 0.020 4/30/2024 RUB 65.000
Sidetur Finance BV 10.000 4/20/2016 USD 3.532
Lehman Brothers Treasur 7.50010/24/2008 USD 0.100
Lehman Brothers Treasur 6.00010/24/2008 EUR 0.100
Lehman Brothers Treasur 7.500 9/13/2009 CHF 0.100
Lehman Brothers Treasur 9.000 6/13/2009 USD 0.100
Lehman Brothers Treasur 9.000 3/17/2009 GBP 0.100
SAir Group 2.750 7/30/2004 CHF 12.625
Lehman Brothers Treasur 7.250 10/06/2008 EUR 0.100
Lehman Brothers Treasur 8.000 5/22/2009 USD 0.100
Lehman Brothers Treasur 7.000 4/14/2009 EUR 0.100
Leonteq Securities AG/G 12.900 1/29/2021 USD 3.560
Vontobel Financial Prod 5.300 1/29/2021 EUR 74.320
DekaBank Deutsche Giroz 7.000 02/01/2021 EUR 62.040
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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 2021. All rights reserved. ISSN 1529-2754.
This material is copyrighted and any commercial use, resale or
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or balance thereof are US$25 each. For subscription information,
contact Peter Chapman at 215-945-7000.
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