/raid1/www/Hosts/bankrupt/TCREUR_Public/210830.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, August 30, 2021, Vol. 22, No. 167

                           Headlines



G E R M A N Y

EVONIK INDUSTRIES: Moody's Rates New Green Sub. Hybrid Notes 'Ba1'


I R E L A N D

BLACKROCK EUROPEAN XI: Moody's Gives B3 Rating to EUR12MM F Notes
BLACKROCK EUROPEAN XI: S&P Assigns B- (sf) Rating to Class F Notes
MADISON PARK XVII: Moody's Assigns B3 Rating to EUR12.9MM F Notes
MADISON PARK XVII: S&P Assigns B- (sf) Rating to Class F Notes
SHAW ACADEMY: Call Center Owner Hits at Claims



R U S S I A

MEGAPOLICE LTD: Bank of Russia Provides Update on Administration


S P A I N

SANTANDER HIPOTECARIO 3: Fitch Affirms C Rating on 4 Tranches


U N I T E D   K I N G D O M

CLAVIS SECURITIES 2006-01: Fitch Affirms B Rating on 8 Tranches
DAC PENSIONS: To Be Put Into Liquidation, Declared in Default
HENRY W POLLARD: Owes More Than GBP10 Million, Liquidators Reveal
HOLLINWOOD HOMES: Blackpool Council Takes Over Foxhall Dev't.
O'KEEFE CONSTRUCTION: To Enter Into Company Voluntary Arrangement

PRECISE MORTGAGE 2018-1B: Moody's Ups Rating on Cl. E Notes to Ba1
TRAVIS PERKINS: S&P Alters Outlook to Stable, Affirms 'BB+' ICR


X X X X X X X X

[*] BOND PRICING: For the Week August 23 to August 27, 2021

                           - - - - -


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G E R M A N Y
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EVONIK INDUSTRIES: Moody's Rates New Green Sub. Hybrid Notes 'Ba1'
------------------------------------------------------------------
Moody's Investors Service has assigned a Ba1 rating to the proposed
issuance of Green Subordinated Resettable Fixed Rate Notes (the
Hybrid) by Evonik Industries AG. The rating outlook is stable. The
size and completion of the Hybrid transaction are subject to market
conditions.

RATINGS RATIONALE

The rating of Ba1 is two notches lower than Evonik's Baa2 senior
unsecured rating. This reflects the features of the proposed Hybrid
securities in relation to the existing senior unsecured obligations
of Evonik rated Baa2.

The proposed Hybrid is deeply subordinated, has a 60-year maturity,
has no events of default and Evonik can opt to defer coupons on a
cumulative basis. In Moody's view, the Hybrid has equity-like
features that allow it to receive basket 'C' treatment, which
corresponds to 50% equity treatment of the borrowing for the
calculation of the credit ratios by Moody's.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING

As the Hybrid rating is positioned relative to another rating of
Evonik, either (i) a change in the senior unsecured rating of
Evonik, or (ii) a re-evaluation of its relative notching, could
impact the Hybrid rating.

Ratings could be upgraded if metrics sustainably improved such that
(1) RCF to net debt is above mid 20s (%) and (2) debt to EBITDA
below 2.5x. Conversely, ratings could be downgraded if debt/EBITDA
was sustainably above 3.0x and RCF/net debt approaches 15% (all
metrics Moody's-adjusted).

PROFILE

Evonik Industries AG, headquartered in Essen, Germany, is the
holding company of the Evonik group, one of the leading European
specialty chemicals producers. In 2020, Evonik reported revenue of
around EUR12.2 billion and EBITDA of around EUR1.9 billion,
equivalent to a margin of 15.6%.

The principal methodology used in this rating was Chemical Industry
published in March 2019.



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I R E L A N D
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BLACKROCK EUROPEAN XI: Moody's Gives B3 Rating to EUR12MM F Notes
-----------------------------------------------------------------
Moody's Investors Service announced that it has assigned the
following definitive ratings to notes issued by BlackRock European
CLO XI Designated Activity Company (the "Issuer"):

EUR239,000,000 Class A Senior Secured Floating Rate Notes due
2034, Definitive Rating Assigned Aaa (sf)

EUR27,400,000 Class B-1 Senior Secured Floating Rate Notes due
2034, Definitive Rating Assigned Aa2 (sf)

EUR20,600,000 Class B-2 Senior Secured Fixed Rate Notes due 2034,
Definitive Rating Assigned Aa2 (sf)

EUR25,500,000 Class C Senior Secured Deferrable Floating Rate
Notes due 2034, Definitive Rating Assigned A2 (sf)

EUR27,250,000 Class D Senior Secured Deferrable Floating Rate
Notes due 2034, Definitive Rating Assigned Baa3 (sf)

EUR20,250,000 Class E Senior Secured Deferrable Floating Rate
Notes due 2034, Definitive Rating Assigned Ba3 (sf)

EUR12,000,000 Class F Senior Secured Deferrable Floating Rate
Notes due 2034, Definitive Rating Assigned B3 (sf)

RATINGS RATIONALE

The rationale for the ratings are based on a consideration of the
risks associated with the CLO's portfolio and structure as
described in Moody's methodology.

The Issuer is a managed cash flow CLO. At least 90% of the
portfolio must consist of senior secured obligations and up to 10%
of the portfolio may consist of senior unsecured obligations,
second-lien loans, mezzanine obligations and high yield bonds. The
portfolio is expected to be 80% ramped as of the closing date and
to comprise of predominantly corporate loans to obligors domiciled
in Western Europe.

BlackRock Investment Management (UK) Limited ("BlackRock") will
manage the CLO. It will direct the selection, acquisition and
disposition of collateral on behalf of the Issuer and may engage in
trading activity, including discretionary trading, during the
transaction's four and a half year reinvestment period. Thereafter,
subject to certain restrictions, purchases are permitted using
principal proceeds from unscheduled principal payments and proceeds
from sales of credit risk obligations or credit improved
obligations.

In addition to the seven classes of notes rated by Moody's, the
Issuer will issue EUR3,922,000 Class Z Notes due 2034 and
EUR33,800,000 Subordinated Notes due 2034 which are not rated. The
Class Z Notes accrue interest in an amount equivalent to a certain
proportion of the subordinated management fees and its notes'
payment is pari passu with the payment of the subordinated
management fee.

The transaction incorporates interest and par coverage tests which,
if triggered, divert interest and principal proceeds to pay down
the Notes in order of seniority.

Methodology underlying the rating action:

The principal methodology used in these ratings was "Moody's Global
Approach to Rating Collateralized Loan Obligations" published in
December 2020.

Factors that would lead to an upgrade or downgrade of the ratings:

The rated Notes' performance is subject to uncertainty. The Notes'
performance is sensitive to the performance of the underlying
portfolio, which in turn depends on economic and credit conditions
that may change. The collateral manager's investment decisions and
management of the transaction will also affect the Notes'
performance.

Moody's modeled the transaction using a cash flow model based on
the Binomial Expansion Technique, as described in Section 2.3 of
the "Moody's Global Approach to Rating Collateralized Loan
Obligations" rating methodology published in December 2020.

Moody's used the following base-case modeling assumptions:

Par Amount: EUR400,000,000

Diversity Score: 50

Weighted Average Rating Factor (WARF): 2965

Weighted Average Spread (WAS): 3.55%

Weighted Average Coupon (WAC): 3.50%

Weighted Average Recovery Rate (WARR): 43.00%

Weighted Average Life (WAL): 8.5 years

BLACKROCK EUROPEAN XI: S&P Assigns B- (sf) Rating to Class F Notes
------------------------------------------------------------------
S&P Global Ratings assigned credit ratings to Blackrock European
CLO XI DAC's class A, B-1, B-2, C, D, E, and F notes. At closing,
the issuer also issued EUR33.80 million of unrated subordinated
notes.

S&P said, "We have performed our analysis on the expected effective
date portfolio provided to us by the manager. The portfolio
contains 2.05% unidentified assets. We consider that the portfolio
is well-diversified, primarily comprising broadly syndicated
speculative-grade senior secured term loans. Therefore, we have
conducted our credit and cash flow analysis by applying our
criteria for corporate cash flow collateralized debt."

  Portfolio Benchmarks

  S&P Global Ratings weighted-average rating factor     2769.47
  Default rate dispersion                                562.67
  Weighted-average life (years)                            5.50
  Obligor diversity measure                              131.00
  Industry diversity measure                              20.42
  Regional diversity measure                               1.32
  Weighted-average rating                                     B
  'CCC' category rated assets (%)                          1.75
  'AAA' weighted-average recovery rate                    36.47
  Weighted-average spread (net of floors; %)               3.73
  Weighted-average coupon (%)                              3.24

Under the transaction documents, the rated notes will pay quarterly
interest unless a frequency switch event occurs. Following this,
the notes will switch to semiannual payments. The portfolio's
reinvestment period will end approximately four and half years
after closing.

S&P said, "In our cash flow analysis, we used the EUR400 million
target par amount, a weighted-average spread of 3.55%, the
reference weighted-average coupon (3.50%), and the weighted-average
recovery rates calculated as per our CLO criteria. We applied
various cash flow stress scenarios, using four different default
patterns, in conjunction with different interest rate stress
scenarios for each liability rating category.

"Under our structured finance sovereign risk criteria, we consider
that the transaction's exposure to country risk is sufficiently
mitigated at the assigned ratings.

"Our credit and cash flow analysis indicates that the available
credit enhancement for the class B-1, B-2, C, D, and E notes could
withstand stresses commensurate with higher ratings than those we
have assigned. However, the CLO benefits from a reinvestment period
until Jan. 17, 2026, during which the transaction's credit risk
profile could deteriorate, subject to CDO monitor results. We have
therefore capped our ratings assigned to the notes.

"For the class F notes, our credit and cash flow analysis indicates
that the available credit enhancement could withstand stresses that
are commensurate with a lower rating. However, after applying our
'CCC' criteria we have assigned a 'B- (sf)' rating to this class of
notes." The uplift to 'B-' reflects several key factors,
including:

-- The available credit enhancement for this class of notes is in
the same range as other CLOs that S&P rates, and that have recently
been issued in Europe.

-- The portfolio's average credit quality is similar to other
recent CLOs.

-- S&P's model generated breakeven default rate (BDR) at the 'B-'
rating level of 26.89% (for a portfolio with a weighted-average
life of 5.50 years), versus if we were to consider an historical
long-term sustainable default rate of 3.1% for 5.50 years, which
would result in a target default rate of 17.05%.

The Bank of New York Mellon, London Branch is the bank account
provider and custodian. The issuer can purchase up to 30%
non-euro-denominated assets, subject to perfect asset swaps. At
closing, S&P considers that the account bank, custodian, and swap
counterparty's documented replacement provisions are in line with
its counterparty criteria for liabilities rated up to 'AAA'.

At closing, S&P considers that the issuer is bankruptcy remote, in
accordance with its legal criteria.

The CLO is managed by BlackRock Investment Management (UK) Ltd. S&P
currently has eight European CLOs from the manager under
surveillance. Under S&P's "Global Framework For Assessing
Operational Risk In Structured Finance Transactions," published on
Oct. 9, 2014, the maximum potential rating on the liabilities is
'AAA'

S&P said, "Following our analysis of the credit, cash flow,
counterparty, operational, and legal risks, we believe our ratings
are commensurate with the available credit enhancement for each
class of notes.

"In addition to our standard analysis, to provide an indication of
how rising pressures among speculative-grade corporates could
affect our ratings on European CLO transactions, we have also
included the sensitivity of the ratings on the class A to E notes
to five of the 10 hypothetical scenarios we looked at in our
publication "How Credit Distress Due To COVID-19 Could Affect
European CLO Ratings," published on April 2, 2020.

"As our ratings analysis makes additional considerations before
assigning ratings in the 'CCC' category, and we would assign a 'B-'
rating if the criteria for assigning a 'CCC' category rating are
not met, we have not included the above scenario analysis results
for the class F notes."

  Ratings List
  
  CLASS    RATING      AMOUNT       INTEREST RATE       SUB (%)
                     (MIL. EUR)   
  A        AAA (sf)    239.00   3M EURIBOR plus 0.98%   40.25
  B-1      AA (sf)      27.40   3M EURIBOR plus 1.60%   28.25
  B-2      AA (sf)      20.60                   2.00%   28.25
  C        A (sf)       25.50   3M EURIBOR plus 2.20%   21.88
  D        BBB (sf)     27.25   3M EURIBOR plus 3.00%   15.06
  E        BB- (sf)     20.25   3M EURIBOR plus 6.00%   10.00
  F        B- (sf)      12.00   3M EURIBOR plus 8.60%    7.00
  Sub notes    NR       33.80                     N/A     N/A

*The payment frequency switches to semiannual and the index
switches to six-month EURIBOR when a frequency switch event occurs.

3M--Three month.
EURIBOR--Euro Interbank Offered Rate.
NR--Not rated.
N/A--Not applicable.


MADISON PARK XVII: Moody's Assigns B3 Rating to EUR12.9MM F Notes
-----------------------------------------------------------------
Moody's Investors Service announced that it has assigned the
following definitive ratings to debt issued by Madison Park Euro
Funding XVII DAC (the "Issuer"):

EUR208,300,000 Class A-1 Senior Secured Floating Rate Notes due
2034, Definitive Rating Assigned Aaa (sf)

EUR10,000,000 Class A-2 Senior Secured Fixed Rate Notes due 2034,
Definitive Rating Assigned Aaa (sf)

EUR60,000,000 Class A Senior Secured Floating Rate Loan due 2034,
Definitive Rating Assigned Aaa (sf)

EUR42,300,000 Class B-1 Senior Secured Floating Rate Notes due
2034, Definitive Rating Assigned Aa2 (sf)

EUR12,000,000 Class B-2 Senior Secured Fixed Rate Notes due 2034,
Definitive Rating Assigned Aa2 (sf)

EUR26,400,000 Class C Senior Secured Deferrable Floating Rate
Notes due 2034, Definitive Rating Assigned A2 (sf)

EUR33,000,000 Class D Senior Secured Deferrable Floating Rate
Notes due 2034, Definitive Rating Assigned Baa3 (sf)

EUR23,900,000 Class E Senior Secured Deferrable Floating Rate
Notes due 2034, Definitive Rating Assigned Ba3 (sf)

EUR12,900,000 Class F Senior Secured Deferrable Floating Rate
Notes due 2034, Definitive Rating Assigned B3 (sf)

RATINGS RATIONALE

The rationale for the ratings is based on a consideration of the
risks associated with the CLO's portfolio and structure as
described in Moody's methodology.

The Issuer is a managed cash flow CLO. At least 95% of the
portfolio must consist of senior secured obligations and up to 5%
of the portfolio may consist of senior unsecured obligations,
second-lien loans, mezzanine obligations and high yield bonds. The
portfolio is expected to be 80% ramped up as of the closing date
and to comprise of predominantly corporate loans to obligors
domiciled in Western Europe. The remainder of the portfolio will be
acquired during the five months ramp-up period in compliance with
the portfolio guidelines.

Credit Suisse Asset Management Limited ("CSAM") will manage the
CLO. It will direct the selection, acquisition and disposition of
collateral on behalf of the Issuer and may engage in trading
activity, including discretionary trading, during the transaction's
4.5 years reinvestment period. Thereafter, subject to certain
restrictions, purchases are permitted using principal proceeds from
unscheduled principal payments and proceeds from sales of credit
risk obligations or credit improved obligations.

In addition to the nine classes of debt rated by Moody's, the
Issuer has issued EUR41,500,000 Class M Subordinated Notes due 2034
which are not rated.

The transaction incorporates interest and par coverage tests which,
if triggered, divert interest and principal proceeds to pay down
the notes in order of seniority.

Methodology underlying the rating action:

The principal methodology used in these ratings was "Moody's Global
Approach to Rating Collateralized Loan Obligations" published in
December 2020.

Factors that would lead to an upgrade or downgrade of the ratings:

The rated notes' performance is subject to uncertainty. The notes'
performance is sensitive to the performance of the underlying
portfolio, which in turn depends on economic and credit conditions
that may change. The collateral manager's investment decisions and
management of the transaction will also affect the notes'
performance.

Moody's modeled the transaction using a cash flow model based on
the Binomial Expansion Technique, as described in Section 2.3 of
the "Moody's Global Approach to Rating Collateralized Loan
Obligations" rating methodology published in December 2020.

Moody's used the following base-case modeling assumptions:

Par Amount: EUR460,000,000

Diversity Score: 54

Weighted Average Rating Factor (WARF): 3,108

Weighted Average Spread (WAS): 3.70%

Weighted Average Coupon (WAC): 4.25%

Weighted Average Recovery Rate (WARR): 43.25%

Weighted Average Life (WAL): 8.5 years

MADISON PARK XVII: S&P Assigns B- (sf) Rating to Class F Notes
--------------------------------------------------------------
S&P Global Ratings assigned its credit ratings to Madison Park Euro
Funding XVII DAC's class A-1, A-2, B-1, B-2, C, D, E, and F notes,
and class A-1 loan. At closing, the issuer also issued EUR41.50
million of unrated subordinated notes.

The ratings assigned to the notes reflect S&P's assessment of:

-- The diversified collateral pool, which primarily comprises
broadly syndicated speculative-grade senior secured term loans and
bonds that are governed by collateral quality tests.

-- The credit enhancement provided through the subordination of
cash flows, excess spread, and overcollateralization.

-- The collateral manager's experienced team, which can affect the
performance of the rated notes through collateral selection,
ongoing portfolio management, and trading.

  Portfolio Benchmarks
                                                        CURRENT
  S&P Global Ratings weighted-average rating factor    2,880.44
  Default rate dispersion                                453.00
  Weighted-average life (years)                            5.28
  Obligor diversity measure                              135.31
  Industry diversity measure                              20.53
  Regional diversity measure                               1.19
  Weighted-average rating                                     B
  'CCC' category rated assets (%)                          2.11
  'AAA' weighted-average recovery rate                    35.64
  Weighted-average spread (net of floors; %)               3.74

The portfolio manager may, at any time, and without regard to the
eligibility criteria, acquire workout obligations to enhance and
protect the recovery value of a defaulted obligation from the same
obligor. All funds required for the purchase of these obligations
may be paid out of the supplemental reserve account, the interest
account, or the principal account.

Regarding the principal account, the portfolio manager may only use
it if each of the class A/B, C, and D par value tests are
satisfied, or if the total collateral balance remains above the
reinvestment target par balance immediately after the purchase. All
distributions associated with these purchases will be deposited in
the principal account.

Workout obligations will not be considered for determining
satisfaction of any of the coverage tests, portfolio profile tests,
or collateral quality tests. Only workout obligations purchased
with principal proceeds will be given the following credit:

-- For the adjusted collateral principal amount, workout
obligations that satisfy all of the eligibility criteria will be
considered collateral debt obligations; and

-- For the par value tests, workout obligations that satisfy
certain of the eligibility criteria will be considered defaulted
obligations only if each par value test is passing without giving
any credit to any such workout obligation.

S&P said, "We consider that the target portfolio is
well-diversified, primarily comprising broadly syndicated
speculative-grade senior secured term loans. Therefore, we have
conducted our credit and cash flow analysis by applying our
criteria for corporate cash flow CDOs.

"In our cash flow analysis, we modelled the EUR460 million target
par amount, the reference weighted-average spread of 3.70%, the
reference weighted-average coupon of 4.25%, and the
weighted-average recovery rates calculated using our criteria on
the expected effective date portfolio, as indicated by the
collateral manager. We applied various cash flow stress scenarios,
using four different default patterns, in conjunction with
different interest rate stress scenarios for each liability rating
category.

"Under our structured finance sovereign risk criteria, we consider
that the transaction's exposure to country risk is sufficiently
mitigated at the assigned ratings.

"The transaction's documented counterparty replacement and remedy
mechanisms adequately mitigate its exposure to counterparty risk
under our current counterparty criteria.

"The transaction's legal structure is bankruptcy remote, in line
with our legal criteria.

"The CLO is managed by Credit Suisse Asset Management Ltd. Under
our "Global Framework For Assessing Operational Risk In Structured
Finance Transactions," published on Oct. 9, 2014, the maximum
potential rating on the liabilities is 'AAA'.

"Until the end of the reinvestment period on Feb. 26, 2026, the
collateral manager can substitute assets in the portfolio for so
long as our CDO Monitor test is maintained or improved in relation
to the initial ratings on the notes. This test looks at the total
amount of losses that the transaction can sustain as established by
the initial cash flows for each rating, and compares that with the
default potential of the current portfolio plus par losses to date.
As a result, until the end of the reinvestment period, the
collateral manager may, through trading, deteriorate the
transaction's current risk profile, as long as the initial ratings
are maintained.

"Our credit and cash flow analysis shows that the class B-1, B-2,
C, D, and E notes benefit from break-even default rate and scenario
default rate cushions that we would typically consider to be in
line with higher ratings than those assigned. However, as the CLO
will have a reinvestment phase, during which the transaction's
credit risk profile could deteriorate, we have capped our ratings
on the notes.

"For the class F notes, our credit and cash flow analysis indicates
that the break-even default rate cushion is negative. Nevertheless,
based on the portfolio's actual characteristics and additional
overlaying factors, including our long-term corporate default rates
and recent economic outlook, we believe this class is able to
sustain a steady-state scenario, in accordance with our criteria."
S&P's analysis further reflects several factors, including:

-- The available credit enhancement for this class of notes is in
the same range as other CLOs that S&P rates, and that have recently
been issued in Europe.

-- The portfolio's average credit quality is similar to other
recent CLOs.

-- S&P's model generated break-even default rate at the 'B-'
rating of 28.21% (for a portfolio with a weighted-average life of
5.28 years), versus if it was to consider a long-term sustainable
default rate of 3.1% for 5.28 years, which would result in a target
default rate of 16.37%.

-- The actual portfolio is generating higher spreads versus the
covenanted threshold that we have modelled in our cash flow
analysis.

-- For S&P to assign a rating in the 'CCC' category, it also
assessed (i) whether the tranche is vulnerable to non-payments in
the near future, (ii) if there is a one in two chances for this
note to default, and (iii) if it envisions this tranche to default
in the next 12-18 months.

-- Following this analysis, S&P considers that the available
credit enhancement for the class F notes is commensurate with the
'B- (sf)' rating assigned.

-- Following S&P's analysis of the credit, cash flow,
counterparty, operational, and legal risks, S&P believes its
ratings are commensurate with the available credit enhancement for
each class of notes.

S&P said, "In addition to our standard analysis, to provide an
indication of how rising pressures among speculative-grade
corporates could affect our ratings on European CLO transactions,
we have also included the sensitivity of the ratings on the class
A-1 loan and A-1 to E notes to five of the 10 hypothetical
scenarios we looked at in our publication "How Credit Distress Due
To COVID-19 Could Affect European CLO Ratings," published on April
2, 2020. The results shown in the chart below are based on the
actual weighted-average spread, coupon, and recoveries.

"As our ratings analysis makes additional considerations before
assigning ratings in the 'CCC' category, and we would assign a 'B-'
rating if the criteria for assigning a 'CCC' category rating are
not met, we have not included the above scenario analysis results
for the class F notes."

Environmental, social, and governance (ESG) credit factors

S&P said, "We regard the exposure to ESG credit factors in the
transaction as being broadly in line with our benchmark for the
sector. Primarily due to the diversity of the assets within CLOs,
the exposure to environmental credit factors is viewed as below
average, social credit factors are below average, and governance
credit factors are average. For this transaction, the documents
prohibit assets from being related to activities that are
identified as not compliant with international treaties on
controversial weapons or to activities which evidence severe
weaknesses in business conduct and governance in relation to the
United Nations Global Compact Principles. Moreover, assets that
relate to tobacco, pornography and/or prostitution, gambling, and
thermal coal are excluded. Since the exclusion of assets related to
these activities does not result in material differences between
the transaction and our ESG benchmark for the sector, no specific
adjustments have been made in our rating analysis to account for
any ESG-related risks or opportunities."

  Ratings List

  Class    Rating      Amount     Interest rate*     Credit
                    (mil. EUR)                      enhancement
  A-1      AAA (sf)    208.30   3M EURIBOR + 0.95%   39.50%
  A-1 loan AAA (sf)     60.00   3M EURIBOR + 0.95%   39.50%
  A-2      AAA (sf)     10.00                1.20%   39.50%
  B-1      AA (sf)      42.30   3M EURIBOR + 1.65%   27.70%
  B-2      AA (sf)      12.00                2.00%   27.70%
  C        A (sf)       26.40   3M EURIBOR + 2.15%   21.96%
  D        BBB (sf)     33.00   3M EURIBOR + 3.10%   14.78%
  E        BB- (sf)     23.90   3M EURIBOR + 5.99%    9.59%
  F        B- (sf)      12.90   3M EURIBOR + 8.62%    6.78%
  Sub notes  NR         41.50                  N/A      N/A

*The payment frequency switches to semiannual and the index
switches to six-month EURIBOR when a frequency switch event occurs.

3M--Three month.
EURIBOR--Euro Interbank Offered Rate.
NR--Not rated.
N/A--Not applicable.


SHAW ACADEMY: Call Center Owner Hits at Claims
----------------------------------------------
Roisin Burke at Business Post reports that the owner of the call
centre where Shaw Academy outsourced much of its sales support has
hit out at claims made by the company about his business.

Adrian Murphy, a co-founder of Shaw Academy who subsequently left
and set up his own business, criticized what he claimed was an
"untrue narrative" around events as described by the company,
Business Post relates.

Mr. Murphy says his call centre in Tiblisi, Georgia, which handled
much of the Shaw Academy's sales support was "effectively starved
of cash" by the end of June, and closed with 600 staff owed final
wages, Business Post discloses.

Dublin-headquartered Shaw Academy, a worldwide seller of online
education courses, is in examinership, Business Post notes.




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R U S S I A
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MEGAPOLICE LTD: Bank of Russia Provides Update on Administration
----------------------------------------------------------------
The provisional administration to manage the credit institution
commercial bank Megapolice Ltd, or bank Megapolice Ltd
(hereinafter, the Bank) in the course of its inspection of the Bank
established the existence of signs suggestive of the Bank's
operations to withdraw assets through the assignment of receivables
on outstanding loans and lending to borrowers with dubious
solvency, according to the Bank of Russia's Press Service.

According to the assessment by the provisional administration, the
value of the Bank's assets is insufficient to fulfil its
obligations to creditors.

On June 7, 2021, the Arbitration Court of the Chuvash Republic -
Chuvashia recognized the Bank as insolvent (bankrupt).

As the Bank of Russia reasonably presumes that the Bank's officials
were engaged in financial operations suggestive of criminal
offence, the Bank of Russia submitted relevant information to the
Prosecutor General's Office of the Russian Federation and the
Investigative Committee of the Ministry of Internal Affairs of the
Russian Federation for consideration and procedural
decision-making.

The provisional administration to manage the credit institution was
appointed by virtue of Bank of Russia Order No. OD-475, dated March
26, 2021, from March 26, 2021.




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S P A I N
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SANTANDER HIPOTECARIO 3: Fitch Affirms C Rating on 4 Tranches
-------------------------------------------------------------
Fitch Ratings has upgraded eight tranches of four Spanish RMBS
transactions and affirmed the others. Fitch has also removed eight
tranches from Rating Watch Positive (RWP). The Outlooks are Stable
for all notes.

      DEBT                         RATING            PRIOR
      ----                         ------            -----
BBVA RMBS 1, FTA

Class A2 ES0314147010        LT  A+sf    Affirmed    A+sf
Class A3 ES0314147028        LT  A+sf    Affirmed    A+sf
Class B ES0314147036         LT  A-sf    Upgrade     BBB+sf
Class C ES0314147044         LT  BB-sf   Upgrade     Bsf

BBVA RMBS 2, FTA

Class A3 ES0314148026        LT  A+sf    Affirmed    A+sf
Class A4 ES0314148034        LT  A+sf    Affirmed    A+sf
Class B ES0314148042         LT  A-sf    Affirmed    A-sf
Class C ES0314148059         LT  BBB-sf  Upgrade     B+sf

FTA, Santander Hipotecario 3

Class A1 ES0338093000        LT  BBsf    Upgrade     Bsf
Class A2 ES0338093018        LT  BBsf    Upgrade     Bsf
Class A3 ES0338093026        LT  BBsf    Upgrade     Bsf
Class B ES0338093034         LT  CCsf    Affirmed    CCsf
Class C ES0338093042         LT  Csf     Affirmed    Csf
Class D ES0338093059         LT  Csf     Affirmed    Csf
Class E ES0338093067         LT  Csf     Affirmed    Csf
Class F (RF) ES0338093075    LT  Csf     Affirmed    Csf

BBVA RMBS 3, FTA

A1 ES0314149008              LT  BB+sf   Upgrade     B+sf
A2 ES0314149016              LT  BB+sf   Upgrade     B+sf
B ES0314149032               LT  CCsf    Affirmed    CCsf
C ES0314149040               LT  Csf     Affirmed    Csf

TRANSACTION SUMMARY

The transactions comprise Spanish mortgages serviced by Banco
Bilbao Vizcaya Argentaria S.A. (BBB+/Stable/F2) for BBVA RMBS 1-3
and Banco Santander S.A. (A-/Stable/F2) for Santander Hipotecario 3
(Santander 3).

KEY RATING DRIVERS

Stable Performance; Additional Stresses Removed

The upgrades, removal from RWP and Stable Outlooks reflect a
broadly stable asset performance outlook. This is driven by a low
share of loans in arrears over 90 days (ranging between 0.1% and
0.6% of the current portfolio balances) and the improved
macro-economic outlook for Spain as described in Fitch's latest
Global Economic Outlook dated June 2021.

The rating action also reflects the removal of the additional
stresses in relation to the coronavirus outbreak and legal
developments in Catalonia as announced on 22 July 2021.

Increased Credit Enhancement

The affirmations and upgrades reflect Fitch's view that the notes
are sufficiently protected by credit enhancement (CE) to absorb the
projected losses commensurate with existing and higher rating
scenarios. Fitch expects CE ratios to continue increasing for all
transactions in the short term due to prevailing sequential
amortisation of the notes.

However, CE ratios for BBVA 1 and BBVA 2 could decrease if the
pro-rata amortisation mechanism is activated with the application
of a reverse sequential amortisation of the notes until the target
class B and C balances as a share of total notes balance are met
(i.e. tranche thickness targets, defined as double the initial
size). For example, BBVA 1 class A CE could reduce to around 19.9%
from 31.7% at present. The switch to pro-rata is subject to
performance triggers, such as the reserve funds being at their
respective target amounts (currently at 88.3% and 98.1% in BBVA 1
and BBVA 2, respectively). For BBVA 3 and Santander 3, CE is
expected to continue increasing given the prevailing sequential
amortisation of the notes.

Weaker-Than-Expected Recoveries

Fitch has applied a 25% haircut to the asset model-estimated
recovery rates for the BBVA RMBS transactions, considering the
record of cumulative recoveries on defaults of about 34% as per the
latest reporting date, which compares against an average of about
65% observed for the rest of Fitch-rated Spanish RMBS transactions.
This is a variation from the European RMBS Criteria and has a
maximum model-implied rating impact of minus three notches (class C
notes of BBVA 1 and 2).

Payment Interruption Risk Caps Ratings

All transactions remain exposed to unmitigated payment interruption
risk (PiR) in the event of a servicer disruption, as the available
structural mitigants are deemed insufficient to cover stressed
senior fees, net swap payments and senior note interest due amounts
while an alternative servicer arrangement is being implemented. As
a result, the maximum achievable rating remains at 'A+sf' as per
Fitch's Structured Finance and Covered Bonds Counterparty Rating
Criteria.

BBVA 1 and BBVA 2 each has an Environmental, Social and Governance
(ESG) Relevance Score of '5' for Transaction & Collateral Structure
due to unmitigated PiR.

BBVA 3 has an ESG Relevance Score of '4' for Transaction &
Collateral Structure due the exposure to PiR. In addition, it has
an ESG Relevance Score of '4' for Transaction Parties & Operational
Risk due to the breach of account bank replacement triggers.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- The transactions' performance may be affected by changes in
    market conditions and economic environment. Weakening economic
    performance is strongly correlated to increasing levels of
    delinquencies and defaults that could reduce CE available to
    the notes.

-- Additionally, unanticipated declines in recoveries could also
    result in lower net proceeds, which may make certain note
    ratings susceptible to negative rating actions depending on
    the extent of the decline in recoveries. Fitch conducts
    sensitivity analyses by stressing both a transaction's base
    case foreclosure frequency (FF) and recovery rate (RR)
    assumptions, and examining the rating implications on all
    classes of issued notes. A 15% increase in the weighted
    average (WA) FF and a 15% decrease in the WARR could result in
    downgrades of up to five notches.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- For the senior notes of all transactions, whose ratings are
    currently capped at 'A+sf' due to unmitigated PiR, improved
    liquidity protection against a servicer disruption event could
    result in an upgrade.

-- Stable to improved asset performance driven by stable
    delinquencies and defaults would lead to increasing CE ratios
    and, potentially, upgrades. A decrease in the WAFF of 15% and
    an increase in the WARR of 15% could imply upgrades of up to
    three notches.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Structured Finance
transactions have a best-case rating upgrade scenario (defined as
the 99th percentile of rating transitions, measured in a positive
direction) of seven 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 seven notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAAsf' to 'Dsf'. Best- and worst-case scenario credit ratings
are based on historical performance.

CRITERIA VARIATION

Fitch has applied a 25% haircut to the asset model-estimated
recovery rates for the BBVA RMBS transactions.

USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset
pools and the transactions. Fitch has not reviewed the results of
any third- party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.

Fitch did not undertake a review of the information provided about
the underlying asset pools ahead of the transactions' initial
closing. The subsequent performance of the transactions over the
years is consistent with the agency's expectations given the
operating environment and Fitch is, therefore, satisfied that the
asset pool information relied upon for its initial rating analysis
was adequately reliable.

Overall, Fitch's assessment of the information relied upon for the
agency's rating analysis according to its applicable rating
methodologies indicates that it is adequately reliable.

ESG CONSIDERATIONS

BBVA RMBS 1 and BBVA RMBS 2 each has an ESG Relevance Score of '5'
for Transaction & Collateral Structure due to unmitigated PiR,
which has a negative impact on the credit profile, and is highly
relevant to the rating, resulting in a downward adjustment to the
ratings by at least one notch.

BBVA RMBS 3 has an ESG Relevance Score of '4' for Transaction &
Collateral Structure due the exposure to PiR, which could have a
negative impact on the credit profile and is relevant to the
ratings in conjunction with other factors. In addition, it has an
ESG Relevance Score of '4' for Transaction Parties & Operational
Risk due to the breach of account bank replacement triggers, which
has a negative impact on the credit profile, and is relevant to the
ratings in conjunction with other factors.

Except for the matters discussed above, the highest level of ESG
credit relevance, if present, is a score of '3' - ESG issues are
credit neutral or have only a minimal credit impact on the
entities, either due to their nature or the way in which they are
being managed by the entities.



===========================
U N I T E D   K I N G D O M
===========================

CLAVIS SECURITIES 2006-01: Fitch Affirms B Rating on 8 Tranches
---------------------------------------------------------------
Fitch Ratings has upgraded three tranches of Clavis Securities Plc
Series 2007-1, removed them from Rating Watch Positive and revised
the Outlook to Positive from Stable on two other tranches of the
same transaction. Fitch has also affirmed all eight tranches of
Clavis Securities Plc Series 2006-1. Additionally, Fitch upgraded
one Currency Swap Obligation and revised the outlook on a further
Currency Swap Obligation to Positive

        DEBT                              RATING          PRIOR
        ----                              ------          -----
Clavis Securities plc Series 2006-01

Class A3a XS0255457706              LT  Bsf    Affirmed    Bsf
Class A3b XS0255438748              LT  Bsf    Affirmed    Bsf
Class B1a XS0255425927              LT  Bsf    Affirmed    Bsf
Class B1b XS0255440728              LT  Bsf    Affirmed    Bsf
Class B2a XS0255426818              LT  Bsf    Affirmed    Bsf
Class M1a XS0255424441              LT  Bsf    Affirmed    Bsf
Class M1b XS0255439043              LT  Bsf    Affirmed    Bsf
Class M2a XS0255425414              LT  Bsf    Affirmed    Bsf

Clavis Securities plc Series 2007-01

Class A3a XS0302268361              LT  AAAsf  Affirmed    AAAsf
Class A3b Currency Swap Obligation  LT  AAAsf  Affirmed    AAAsf
Class A3b XS0302269096              LT  AAAsf  Affirmed    AAAsf
Class AZa XS0302268445              LT  AAAsf  Affirmed    AAAsf
Class B1a XS0302270268              LT  AA-sf  Upgrade     A+sf
Class B1b Currency Swap Obligation  LT  AA-sf  Upgrade     A+sf
Class B1b XS0302271829              LT  AA-sf  Upgrade     A+sf
Class B2 XS0302270342               LT  A-sf   Upgrade     BBB+sf
Class M1a XS0302269682              LT  AAAsf  Affirmed    AAAsf
Class M1b XS0302270854              LT  AAAsf  Affirmed    AAAsf
Class M2a XS0302270185              LT  AA+sf  Affirmed    AA+sf
Class M2b Currency Swap Obligation  LT  AA+sf  Affirmed    AA+sf
Class M2b XS0302271662              LT  AA+sf  Affirmed    AA+sf

TRANSACTION SUMMARY

The transactions comprises non-conforming UK mortgage loans
originated by GMAC-RFC.

KEY RATING DRIVERS

Coronavirus Additional Assumptions

Fitch applied coronavirus additional assumptions to the
owner-occupied component of the underlying mortgage portfolio. The
combined application of revised 'Bsf' representative pool weighted
average foreclosure frequency (WAFF) and revised rating multiples
resulted in a multiple to the current FF assumptions of 1.2x at
'Bsf' and 1.0x at 'AAAsf'. The coronavirus additional assumptions
are more modest for higher rating levels as the corresponding
rating assumptions are already meant to withstand more severe
shocks than the lower-rated notes.

Short-Dated Note Maturity

The Clavis 2006-1 pool includes loans with a maturity date later
than the legal final maturity date of the class A3a and A3b notes
for an amount of GBP1.4 million. In Fitch's analysis, the ability
of the transaction to make full repayments of the class A3a and A3b
notes by the legal final maturity date is constrained by Fitch's
low prepayment-rate assumption. This assumption is not usually a
key rating driver in RMBS because notes' legal final maturity dates
tend to extend beyond scheduled loan maturity dates. Under Fitch's
standard low prepayment-rate assumption, the class A3a and A3b
notes are not fully repaid by legal final maturity.

However, Fitch believes that the notes still benefit from a margin
of safety as applying prepayments in line with those historically
observed would allow repayment of the notes. The agency therefore
concluded that the current 'Bsf' rating of the notes is still
appropriate.

The ability of the transaction to make repayment on the class A3a
and A3b notes by the legal final maturity date will also depend on
the extent to which the small number of loans (2% of the pool
balance) scheduled to mature after the notes' legal final maturity
date are subject to default and prepayment.

Increase in Credit Enhancement

Pro-rata conditions are currently being met in both transactions.
Their respective reserve funds are not amortising, due to a floor
in Clavis 2006-1 and an irreversible performance trigger breach for
Clavis 2007-1. As a result, credit enhancement has been increasing
in both transactions and is expected to rise further in the near
term.

A 10% switch back to sequential amortisation is in place only in
Clavis 2007-1, resulting in further expected build-up of credit
enhancement in the later stages of the transaction for senior
notes. The increase in credit enhancement has led to the upgrade of
the class B1 and B2 notes of Clavis 2007-1 and the Outlook change
to Positive on the M2 notes of Clavis 2007-1.

Rising Late-Stage Arrears

Loans that are three month or more in arrears have been increasing
in the last collection period in Clavis 2006-1. This metric almost
doubled since June 2020 to 7.6% in June 2021, reaching a seven-year
high. Three months plus arrears in Clavis 2007-1 have been broadly
stable since Fitch's last rating action a year ago. Overall
late-stage delinquencies in both transactions have historically
been lower than other non-prime market peers'. Fitch applies a FF
floor for loans in arrears to account for the increased default
risk.

Clavis 2006-01 has an ESG Relevance Score for Transaction &
Collateral Structure of '5' to reflect the maturity risk related to
transaction structure and short-rated notes, which prevents the
notes from achieving a 'AAAsf' rating.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- The transactions' performance may be affected by changes in
    market conditions and the economic environment. Weakening
    economic performance is strongly correlated to increasing
    levels of delinquencies and defaults that could reduce credit
    enhancement available to the notes.

-- Additionally, unanticipated declines in recoveries could also
    result in lower net proceeds, which may make certain note
    ratings susceptible to negative rating actions depending on
    the extent of the decline in recoveries. Fitch conducts
    sensitivity analyses by stressing both a transaction's base
    case FF and recovery rate (RR) assumptions, and examining the
    rating implications on all classes of issued notes. A 15%
    increase in the weighted average (WA) FF and a 15% decrease in
    the WARR indicate a downgrade of two notches for the M2, B1
    and B2 notes in Clavis 2007-1.

-- A small number of owner-occupied interest-only loans have
    failed to make their bullet payments at note maturity. The
    servicer has implemented alternative plans with these
    borrowers, which have recovered part of the amounts due since
    the last rating action. If this trend reverses and grows to a
    significant number, Fitch may apply more conservative
    assumptions in its asset and cash flow analysis.

Factor that could, individually or collectively, lead to positive
rating action/upgrade:

-- Stable to improved asset performance driven by stable
    delinquencies and defaults would lead to increasing credit
    enhancement and, potentially, upgrades. Fitch tested an
    additional rating sensitivity scenario by applying a decrease
    in the FF of 15% and an increase in the RR of 15%. The results
    indicate an upgrade of three notches for the B2 notes, two
    notches for the B1 notes and one notch for the M2 notes in
    Clavis 2007-1.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Structured Finance
transactions have a best-case rating upgrade scenario (defined as
the 99th percentile of rating transitions, measured in a positive
direction) of seven 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 seven notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAAsf' to 'Dsf'. Best- and worst-case scenario credit ratings
are based on historical performance.

USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset
pools and the transactions. Fitch has not reviewed the results of
any third- party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.

Fitch did not undertake a review of the information provided about
the underlying asset pools ahead of the transactions' initial
closing. The subsequent performance of the transactions over the
years is consistent with the agency's expectations given the
operating environment and Fitch is therefore satisfied that the
asset pool information relied upon for its initial rating analysis
was adequately reliable.

Overall, Fitch's assessment of the information relied upon for the
agency's rating analysis according to its applicable rating
methodologies indicates that it is adequately reliable.

ESG CONSIDERATIONS

Both Clavis transactions have an ESG Relevance Score of '4' for
"Human Rights, Community Relations, Access & Affordability" due to
a significant proportion of the pool containing owner-occupied
loans advanced with limited affordability checks, which has a
negative impact on the credit profile, and is relevant to the
ratings in conjunction with other factors.

Clavis 2006-01 has an ESG Relevance Score of '5' for Transaction &
Collateral Structure to reflect maturity risk related to
transaction structure and short-rated notes, which prevents the
notes from achieving a 'AAAsf' rating.

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.

DAC PENSIONS: To Be Put Into Liquidation, Declared in Default
-------------------------------------------------------------
Sonia Rach at FTAdviser reports that the Financial Conduct
Authority has ordered DAC Pensions, a Sipp provider, to inform its
clients that it accepted business from unauthorized introducers
without proper vetting and would now be placed in insolvency.

According to FTAdviser, in a second supervisory notice published on
Aug. 24, the FCA said DAC Pensions, which is a self-invested
personal pensions operator, failed to carry out adequate due
diligence checks on two EEA introducer firms prior to accepting
business from them.

The firm has been ordered to write to clients informing them of
this failure while also letting them know that it will be unable to
deal with any resultant complaints and would be put into
liquidation, meaning clients can bring their claims to the FSCS,
FTAdviser relates.

DAC Pensions is a small Sipp operator that has been authorized by
the FCA since September 2017.  It has 697 clients and administers
assets of GBP26.7 million, FTAdviser discloses.

In its second notice, dated July 1 but published on Aug. 24, the
FCA said between December 2017 and July 2019, the firm accepted
approximately 620 new clients from two introducers based in Ireland
and Cyprus which were passporting into the UK but did not have the
required top-up permissions to give pensions advice in the UK,
FTAdviser relays.

The City watchdog said a number of these investments were
unregulated collective investment schemes based overseas and
unlikely to be suitable for retail clients, FTAdviser notes.

A number of these Ucis have also been unable to meet redemption
requests for a significant period which could see customers lose
some or all of their money, FTAdviser discloses.

The FCA, as cited by FTAdviser, said the firm had also failed to
communicate redemption issues relating to the Ucis to its customers
in a timely manner.

Assets will now be liquidated and returned to clients but the
letter from DAC Pensions, as specified by the FCA, also tells
clients to bring their complaints to the FSCS, FTAdviser states.

According to FTAdviser, the letter, reads: "We should not have
accepted your pension and you have a right to complain to us.
However, as DAC is to be placed into liquidation and declared in
default, the steps you need to follow if you have a complaint have
changed.

"DAC is covered by the Financial Services Compensation Scheme
(FSCS).  The FSCS protects consumers when authorized firms fail and
can pay compensation of up to GBP85,000.

"As such, once the FSCS declares DAC to be in default, you should
make a claim to the FSCS for any losses incurred with your pension
as a result of moving it to DAC.  You will be given more details
about this from Quantuma."


HENRY W POLLARD: Owes More Than GBP10 Million, Liquidators Reveal
-----------------------------------------------------------------
William Telford at BusinessLive reports that Henry W Pollard and
Sons Ltd, South West construction firm which went into liquidation
leaving buildings unfinished, has also left debts of more than
GBP10 million.

The company, which had been in business for 161 years, ceased
trading in June 2021, leaving buildings such as Plymouth's GBP13
million Teesra House apartment block in limbo, BusinessLive
recounts.

Now joint liquidators at South West accountancy and business
consultancy Bishop Fleming LLP have revealed that more than 300
creditors have made claims totalling GBP10,093,692 against the
firm's assets, BusinessLive relates.

But most of them will not receive any cash as it is estimated the
pot will be millions of pounds short, and non-preferential
creditors will find themselves out of pocket, BusinessLive states.
Those include 26 employees who are owed GBP545,879 between them,
and the company pension fund, which is GBP4,954,000 in deficit,
BusinessLive notes.

Although assets are worth an estimated GBP1,382,538, some of this
cash will go to preferential creditors, including the GBP324,359
owed to HMRC, and to pay debts secured by floating charge-holders,
such as Lloyds Bank, BusinessLive discloses.

It means there is only a little more than GBP1 million available to
be shared out among other claimants, most of which are small and
mid-sized companies spread across the South West, according to
BusinessLive.

Pollard ceased trading and entered creditors' voluntary liquidation
on July 8, 2021, BusinessLive recounts.  Joint liquidators were
appointed on July 21, BusinessLive relates.

Documents filed at Companies House revealed Pollard had outstanding
loans and mortgages from Lloyds Bank, according to BusinessLive.
The firm was in profit before the coronavirus pandemic and had a
healthy turnover, but the administration of an important client in
2019 had left it GBP715,000 out of pocket, BusinessLive notes.


HOLLINWOOD HOMES: Blackpool Council Takes Over Foxhall Dev't.
-------------------------------------------------------------
Shelagh Parkinson at LancsLive reports that the GBP50 million
stalled Foxhall Village housing development has now formally been
put into the ownership of Blackpool Council after a year of
wrangling with the administrators.

Work stopped in October 2019 when contractor Hollinwood Homes went
into administration with just 193 of the planned 410 homes built,
LancsLive recounts.

Now the council, which is the landlord of the site, has agreed to
work exclusively with Great Places Housing Group to find a way to
kickstart the development after securing it from administrators
Price Waterhouse Cooper earlier in August, LancsLive relates.

According to LancsLive, the exclusivity agreement will be in place
for a year while the complexities of the site are unravelled which
includes checking the quality of the work done on partially
finished properties.

A council report says it could mean some of the work already done
"being condemned or require further undertakings to provide the
necessary satisfaction to support the progression of the scheme",
LancsLive relays.


O'KEEFE CONSTRUCTION: To Enter Into Company Voluntary Arrangement
-----------------------------------------------------------------
Joshua Stein at Construction News reports that civils contractor
O'Keefe Construction is looking to enter into a company voluntary
arrangement (CVA) after being hit by "significant" losses.

According to Construction News, the company's directors have
appointed RSM Restructuring Advisory for the move, which it said
followed "difficult trading conditions", with the firm having
"suffered from a number of external pressures in 2020 and 2021".

A statement from the GBP61 million-turnover firm registered with
Companies House as O'Keefe Construction (Greenwich Ltd) said it had
"recorded a significant loss in the financial year to May 2021 and
has experienced associated cashflow challenges", Construction News
relates.  It did not provide a figure.

In its most recent published accounts for the year to May 31, 2020,
it fell to a pre-tax loss of GBP1.8 million, having posted a profit
of GBP1.5 million in the prior year, Construction News discloses.
Its revenue was GBP61.1 million in its 2020 financial year,
compared to GBP67.5 million in 2019, Construction News states.  The
firm had also taken GBP3.5 million in overdrafts in May 2020, and
had GBP1.5 million in cash, Construction News relays.

At the time it owed creditors GBP16.6 million, which was due within
a year, Construction News notes.

O'Keefe's creditors will meet on Sept. 8 to discuss the situation
and vote on it. If approved, the CVA will become effective
immediately, Construction News discloses.

According to Construction News, the company statement said: "On
successful approval of the CVA proposal, the company's shareholders
will contribute additional sums to support its short-term cashflow
and to ensure the business has increased liquidity levels.

"The financial restructuring afforded by the CVA, alongside
operational improvements made to the business, will ensure that
O'Keefe is well-placed to complete its ongoing and profitable work,
and to fulfil its client needs."

Looking ahead, the company, as cited by Construction News, said its
substantial forward order book and improving profit margins give it
some cause for optimism.


PRECISE MORTGAGE 2018-1B: Moody's Ups Rating on Cl. E Notes to Ba1
------------------------------------------------------------------
Moody's Investors Service has upgraded the ratings of thirteen
notes in four Precise Mortgage Funding (PMF) transactions. The
rating action reflects better than expected collateral performance
and the increased levels of credit enhancement for the affected
notes.

Moody's affirmed the ratings of the notes that had sufficient
credit enhancement to maintain the current rating.

Issuer: Precise Mortgage Funding 2017-1B plc

GBP252M Class A Notes, Affirmed Aaa (sf); previously on Sep 20,
2019 Affirmed Aaa (sf)

GBP13.5M Class B Notes, Affirmed Aaa (sf); previously on Sep 20,
2019 Upgraded to Aaa (sf)

GBP13.5M Class C Notes, Upgraded to Aa1 (sf); previously on Sep
20, 2019 Upgraded to Aa2 (sf)

GBP7.5M Class D Notes, Upgraded to Aa1 (sf); previously on Sep 20,
2019 Upgraded to A2 (sf)

GBP8.7M Class E Notes, Upgraded to Baa2 (sf); previously on Sep
20, 2019 Affirmed Ba2 (sf)

Issuer: Precise Mortgage Funding 2018-1B plc

GBP222.74M Class A Notes, Affirmed Aaa (sf); previously on Dec 10,
2020 Affirmed Aaa (sf)

GBP7.38M Class B Notes, Affirmed Aaa (sf); previously on Dec 10,
2020 Upgraded to Aaa (sf)

GBP7.38M Class C Notes, Upgraded to Aa1 (sf); previously on Dec
10, 2020 Upgraded to Aa2 (sf)

GBP4.92M Class D Notes, Upgraded to A1 (sf); previously on Dec 10,
2020 Upgraded to Baa1 (sf)

GBP3.692M Class E Notes, Upgraded to Ba1 (sf); previously on Dec
10, 2020 Affirmed B2 (sf)

Issuer: Precise Mortgage Funding 2018-2B PLC

GBP338.9M Class A Notes, Affirmed Aaa (sf); previously on Dec 10,
2020 Affirmed Aaa (sf)

GBP11.23M Class B Notes, Affirmed Aaa (sf); previously on Dec 10,
2020 Upgraded to Aaa (sf)

GBP11.23M Class C Notes, Upgraded to Aa1 (sf); previously on Dec
10, 2020 Upgraded to Aa2 (sf)

GBP7.49M Class D Notes, Upgraded to A2 (sf); previously on Dec 10,
2020 Affirmed Baa2 (sf)

GBP5.62M Class E Notes, Upgraded to Ba2 (sf); previously on Dec
10, 2020 Affirmed Ba3 (sf)

Issuer: Precise Mortgage Funding 2019-1B Plc

GBP278.79M Class A1 Notes, Affirmed Aaa (sf); previously on May
31, 2019 Definitive Rating Assigned Aaa (sf)

GBP359.49M Class A2 Notes, Affirmed Aaa (sf); previously on May
31, 2019 Definitive Rating Assigned Aaa (sf)

GBP27.51M Class B Notes, Upgraded to Aaa (sf); previously on May
31, 2019 Definitive Rating Assigned Aa1 (sf)

GBP31.18M Class C Notes, Upgraded to Aa1 (sf); previously on May
31, 2019 Definitive Rating Assigned Aa3 (sf)

GBP18.34M Class D Notes, Upgraded to A2 (sf); previously on May
31, 2019 Definitive Rating Assigned Baa2 (sf)

GBP18.34M Class E Notes, Upgraded to Ba2 (sf); previously on May
31, 2019 Definitive Rating Assigned Ba3 (sf)

RATINGS RATIONALE

The rating action is prompted by better than expected collateral
performance and the increased levels of credit enhancement for the
affected notes.

Revision of Key Collateral Assumptions:

As part of the rating action, Moody's reassessed its lifetime loss
expectation for the portfolio reflecting the collateral performance
to date.

The performance of all four Precise Mortgage Funding transactions
has been better than initially expected at closing. 90 days plus
arrears as a percentage of current balance are currently standing
at 0.57% for Precise Mortgage Funding 2017-1B plc (PMF 2017-1B),
0.00% for PMF 2018-1B, 0.14% for Precise Mortgage Funding 2018-2B
PLC (PMF 2018-2B) and 0.03% for Precise Mortgage Funding 2019-1B
Plc (PMF 2019-1B), with pool factor at 64.5%, 51.4%, 53.2% and
72.1% respectively. All four Precise Mortgage Funding transactions
have no losses since closing.

Moody's assumed the expected loss of 1.25% as a percentage of
current pool balance on all four Precise Mortgage Funding
transactions, due to the better than expected collateral
performance. This corresponds to expected loss assumption as a
percentage of the original pool balance of 0.80% for PMF 2017-1B,
0.65% for PMF 2018-1B, 0.65% for PMF 2018-2B and 0.90% for PMF
2019-1B.

Moody's has also assessed loan-by-loan information as a part of its
detailed transaction review to determine the credit support
consistent with target rating levels and the volatility of future
losses. As a result, Moody's has decreased the MILAN CE of PMF
2017-1B to 12% from 13% and maintained the MILAN CE assumption at
12% for PMF 2018-1B, PMF 2018-2B and PMF 2019-1B.

Increase in Available Credit Enhancement

amortization led to the increase in the credit enhancement
available in this transaction.

In PMF 2017-1B, the credit enhancement for Classes C, D and E Notes
increased to 12.9%, 9.0% and 4.6% from 10.4%, 7.4% and 4.0%
respectively since the last rating action.

In PMF 2018-1B, the credit enhancement for Classes C and D Notes
increased to 8.4% and 4.5% from 7.9% and 4.3% respectively since
the last rating action.

In PMF 2018-2B, the credit enhancement for Classes C and D Notes
increased to 8.2% and 4.4% from 7.4% and 4.1% respectively since
the last rating action.

In PMF 2019-1B, the credit enhancement for Classes B, C and D Notes
increased to 14.5%, 8.6% and 5.1% from 10.7%, 6.5% and 4.0%
respectively since closing.

Counterparty Exposure

The rating actions took into consideration the notes' exposure to
relevant counterparties, such as servicer, account banks or swap
providers.

Moody's considered how the liquidity available in the transactions
and other mitigants support continuity of note payments, in case of
financial disruption. The rating of the Class C Notes of Precise
Mortgage Funding 2017-1B plc is constrained due to the level of
liquidity support available in the transaction.

The principal methodology used in these ratings was "Moody's
Approach to Rating RMBS Using the MILAN Framework" published in
December 2020.

Factors that would lead to an upgrade or downgrade of the ratings:

Factors or circumstances that could lead to an upgrade of the
ratings include (1) performance of the underlying collateral that
is better than Moody's expected, (2) an increase in available
credit enhancement, (3) improvements in the credit quality of the
transaction counterparties and (4) a decrease in sovereign risk.

Factors or circumstances that could lead to a downgrade of the
ratings include (1) an increase in sovereign risk, (2) performance
of the underlying collateral that is worse than Moody's expected,
(3) deterioration in the notes' available credit enhancement and
(4) deterioration in the credit quality of the transaction
counterparties.

TRAVIS PERKINS: S&P Alters Outlook to Stable, Affirms 'BB+' ICR
---------------------------------------------------------------
S&P Global Ratings revised its outlook on U.K.-based building
materials distributor Travis Perkins PLC to stable from negative,
affirmed its 'BB+' long-term issuer credit rating on the group, and
affirmed its 'BB+' issue rating on its two senior unsecured notes.

The stable outlook reflects S&P's expectation that Travis Perkins'
credit metrics will remain commensurate with the current rating,
with funds from operations (FFO) to debt comfortably exceeding 30%
and discretionary cash flow (DCF) to debt remaining above 10%.

The outlook revision reflects the effects of Travis Perkins' recent
strategic decisions to refocus its business, combined with
improvements in the group's financials. The group's operating
leases have reduced, resulting in lower leverage. This, combined
with supportive conditions in the RMI market, will continue to
support the current rating, despite a reduction in size and
weakening of its business position compared with global peers in
the building material sector, in our view. The group exited the
cyclical U.K. consumer and DIY markets by demerging Wickes in April
2021, and we expect it will complete the disposal of the low-margin
P&H business in the third quarter (Q3) of 2021. This will reduce
revenue to about GBP4.9 billion in 2021 from about GBP6.2 billion
in 2020 and GBP7.0 billion in 2019. We assess the diversity within
its remaining business as somewhat limited compared to larger-scale
peers in the sector. The group is also less geographically diverse
than its peers, since it generates more than 98% of its revenue in
the U.K. market.

The demerger of Wickes, which operated with a considerably higher
proportion of operating leases, has reduced the group's
International Financial Reporting Standard 16 operating lease
obligations to GBP484 million, down from GBP1.4 billion in 2019.
This has reduced adjusted debt to EBITDA to 1.5x from 3.3x in 2020
and 2.6x in 2019. S&P said, "We think Travis Perkins will now
sustain adjusted FFO to debt of about 45% in 2021 and 2022, up from
20% in 2020. This is higher than the 30% threshold we previously
anticipated. As a result of the disposals, we have revised downward
our business risk assessment to fair but revised upward our
financial risk profile to intermediate."

Travis Perkins' remaining business has sound economic prospects and
should continue to benefit from a wide regional presence and
competitive position in the U.K., together with strong demand from
RMI activities. The group's merchanting business still benefits
from a high exposure to the residential and commercial RMI markets,
which account for 65% of revenue, compared to 35% for new-build
constructions. This resulted in strong performance in H1 2021, with
revenue of GBP2.3 billion, 38% higher than H1 2020 and 11% higher
than H1 2019. This reflects the robust recovery in volumes stemming
from both domestic and commercial RMI, fueled by pent-up demand and
market-share gains. Demand for RMI activities show little signs of
easing, with people continuing to invest in and work from their
homes during the pandemic. Some uncertainty remains due to the
ongoing pandemic, and the group has experienced some product
availability issues. However, S&P expects the RMI market and
merchanting activities will remain strong thanks to the increase in
the number of transactions in the real estate sector and our
expectation that demand for new housing will continue on its path
of recovery. Additionally, the demergers will allow management to
focus on and allocate capital to its merchanting trade activities
and its expansion of Toolstation in the U.K. and into Western
Europe (France, Belgium, and the Netherlands).

S&P said, "We forecast adjusted EBITDA of about GBP435 million in
2021, with a margin of 8.9%-9.0%, up from 6.9% in 2020. The
business was able to increase its overall operating margin by 20
basis points and deliver an adjusted operating profit up 14% in
comparison to 2019. We assume greater operating efficiency and
various initiatives will improve Travis Perkins' cost base and
alleviate inflationary pressures as the group continues passing on
price increases into 2022."

Travis Perkins will reinvest its strong cash generation to fund its
improvement program, expansion of Toolstation, and shareholder
distribution in a prudent and balanced way. The group has decided
to reinstate dividends, distributing 30%-40% of full-year adjusted
earnings as a regular dividend. S&P said, "We understand the group
will provide more details, as well as information regarding future
plans, during the investor update on Sept. 29, 2021. Under our base
case, the group will sustain adjusted debt to EBITDA of about
1.6x-1.7x in 2021-2022, down from 2.6x in 2019 and 3.3x in 2020. We
do not forecast this to exceed 2.0x in the next two years, thanks
to the adoption of the new dividend policy."

S&P said, "The stable outlook reflects our view that Travis Perkins
will report revenue of GBP4.8 billion-GBP4.9 billion and adjusted
EBITDA of about GBP435 million in 2021, pro forma the recent
demerger of Wickes and upcoming disposal of its P&H business. We
expect the group's credit metrics will strengthen, with FFO to debt
comfortably exceeding 30% and DCF to debt remaining above 10% over
the next 18 months, which we now see as commensurate with the
current rating.

"This is supported by continued organic growth and heightened RMI
activities in the U.K., along with market share gains in
merchanting and trade activities. We anticipate an adjusted EBITDA
margin of 8.9%-9.0% and an ability to pass on cost inflation,
ensuring margin remains at this level over the period.

"We could lower the rating if trading conditions were to
deteriorate because of a slowdown in RMI activities, a subdued
new-build market, or inflationary pressures, which would result in
a weakening in the group's EBITDA margin and FFO to debt falling
below 30%."

More aggressive shareholder-friendly distributions, leading to DCF
to debt falling below 10% without short-term recovery prospects,
could also weigh on our assessment.

S&P said, "We currently see potential for an upgrade as limited
given the current size and scale of the business. Over the longer
term, we could raise the rating if operating performance increased,
supporting stronger credit metrics, with an adjusted EBITDA margin
comfortably above 9%, FFO to debt above 45%, and DCF to debt
exceeding 15% on a sustainable basis." An upgrade would also hinge
on the adoption of a more conservative financial policy and a
strong commitment to maintain the rating at an investment-grade
level.




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[*] BOND PRICING: For the Week August 23 to August 27, 2021
-----------------------------------------------------------
Issuer                     Coupon   Maturity  Currency  Price
------                     ------   --------  --------  -----
Casino Guichard Perracho     3.992               EUR    72.328
Casino Guichard Perracho     1.004               EUR    42.435
Intralot Capital Luxembo     5.250   9/15/2024   EUR    59.971
PB International BV          7.625   1/26/2022   USD    41.387
Mitsubishi UFJ Investor      3.957  12/15/2050   EUR    50.393
Paragon GmbH & Co KGaA       4.000   4/23/2023   CHF    65.550
Accor SA                     0.700   12/07/2027  EUR    51.066
Moby SpA                     7.750   2/15/2023   EUR    36.037
Mallinckrodt Internation     4.750   4/15/2023   USD    27.750
Rallye SA                    4.000   2/28/2030   EUR    28.711
Hurricane Energy PLC         7.500   7/24/2022   USD    64.385
Hylea Group SA               7.250   12/01/2022  EUR    12.200
Air France-KLM               0.125   3/25/2026   EUR    15.848
Nostrum Oil & Gas Financ     8.000   7/25/2022   USD    27.458
Mallinckrodt Internation     5.750   08/01/2022  USD    63.500
Wirecard AG                  0.500   09/11/2024  EUR    11.000
Intelsat Jackson Holding     5.500   08/01/2023  USD    55.000
Yell Bondco PLC              8.500   05/02/2023  GBP    60.219
Intelsat Luxembourg SA       8.125   06/01/2023  USD     1.625
Fuerstenberg Capital II      5.625               EUR    48.931
Rallye SA                    4.371   1/23/2023   EUR    28.500
Korian SA                    0.875   03/06/2027  EUR    57.139
Intu Debenture PLC           5.562  12/31/2027   GBP    39.293
Metro Bank PLC               5.500   6/26/2028   GBP    65.128
Intelsat Jackson Holding     8.500  10/15/2024   USD    55.000
Maisons du Monde SA          0.125   12/06/2023  EUR    47.243
Naviera Armas SA             6.500   7/31/2023   EUR    74.735
FIGEAC-AERO                  1.125  10/18/2022   EUR    21.919
Mallinckrodt Internation     5.625  10/15/2023   USD    64.500
Voltalia SA                  1.000   1/13/2025   EUR    31.883
Quadient SA                  3.375               EUR    57.738
Privatbank CJSC Via UK S    10.250   1/23/2018   USD    10.000
Offshore Drilling Holdin     8.375   9/20/2020   USD    10.561
Nexity SA                    0.250   03/02/2025  EUR    68.137
HOCHDORF Holding AG          2.500               CHF    57.191
Nostrum Oil & Gas Financ     7.000   2/16/2025   USD    27.458
Econocom Group SA/NV         0.500   03/06/2023  EUR     7.652
Korian SA                    2.500               EUR    41.990
EA Partners II BV            6.750   06/01/2021  USD     1.501
Pierre Et Vacances SA        2.000   04/01/2023  EUR    29.176
Mallinckrodt Internation     5.500   4/15/2025   USD    65.250
Rallye SA                    3.250   02/08/2024  CHF    29.016
EYEMAXX Real Estate AG       5.500   4/26/2023   EUR    69.571
Travelex Financing PLC       8.000   5/15/2022   EUR     1.313
Debenhams PLC                5.250   7/15/2021   GBP     1.001
Intelsat Connect Finance     9.500   2/15/2023   USD    32.898
Thomas Cook Group PLC        6.250   6/15/2022   EUR     0.909
Immigon Portfolioabbau A     5.801               EUR    12.479
Neoen SA                     1.875   10/07/2024  EUR    42.504
Intelsat Jackson Holding     9.750   7/15/2025   USD    55.000
Officine Maccaferri-SpA      5.750   06/01/2021  EUR    20.490
Ziton A/S                    7.900   10/03/2022  EUR    70.744
EYEMAXX Real Estate AG       5.500   9/24/2024   EUR    66.197
O1 Properties Finance PL     0.500   9/27/2028   USD    10.000
Rickmers Holding AG          8.875   06/11/2018  EUR     0.512
Neoen SA                     2.000   06/02/2025  EUR    52.088
Eramet SA                    4.000               EUR    66.017
Intelsat SA                  4.500   6/15/2025   USD    34.039
OGX Austria GmbH             8.375   04/01/2022  USD     0.002
Union Fenosa Preferentes     1.107               EUR    71.100
Rallye SA                    3.400   1/31/2022   EUR    30.700
PREOS Global Office Real     7.500   12/09/2024  EUR    69.900
Rallye SA                    4.000  11/23/2020   CHF    29.000
Bourbon Corp                 8.061               EUR    17.905
Intelsat Luxembourg SA       7.750   06/01/2021  USD     2.500
Deutsche Bank AG             1.268   6/28/2033   USD    72.446
Senvion Holding GmbH         3.875  10/25/2022   EUR     0.358
EOS Imaging SA               6.000   5/31/2023   EUR     6.964
Rallye SA                    5.250   02/01/2022  EUR    30.988
Bilt Paper BV               10.360               USD     1.253
Abengoa Abenewco 2 Bis S     1.500   4/26/2024   EUR     1.183
Air Berlin PLC               8.250   4/19/2018   EUR     0.268
Jain International Tradi     7.125   02/01/2022  USD    21.750
Hellenic Bank PCL           10.000               EUR    49.019
Scandinavian Airlines Sy     0.625               CHF    22.189
Thomas Cook Finance 2 PL     3.875   7/15/2023   EUR     1.778
Galapagos Holding SA         7.000   6/15/2022   EUR     1.500
Mitsubishi UFJ Investor      3.704  12/30/2099   EUR     5.083
Fuerstenberg Capital Ers     1.020               EUR    48.360
EA Partners I BV             6.875   9/28/2020   USD     1.000
Naviera Armas SA             4.250  11/15/2024   EUR    76.299
FF Group Finance Luxembo     3.250   11/02/2021  CHF     8.599
Air Berlin PLC               6.750   05/09/2019  EUR     0.325
Banco Espirito Santo SA      7.125  11/28/2023   EUR     0.139
DOF Subsea AS                8.260  11/27/2023   NOK    27.000
Nexity SA                    0.875   4/19/2028   EUR    59.195
Agrokor dd                   9.875   05/01/2019  EUR    15.000
Breeze Finance SA            6.708   4/19/2027   EUR    31.000
Dexia Credit Local SA        1.180               EUR     3.184
Orient Express Bank PJSC     2.000               USD    30.174
KTG Agrar SE                 7.125   06/06/2017  EUR     2.804
Norddeutsche Landesbank-     7.490               EUR    68.292
OGX Austria GmbH             8.500   06/01/2018  USD     0.002
Avangardco Investments P    10.000  10/29/2018   USD     0.646
Stichting Afwikkeling On     6.250  10/26/2020   EUR     5.375
Genfit                       3.500  10/16/2025   EUR    18.597
Dexia SA                     1.236               EUR     1.674
Nexity SA                    0.125   01/01/2023  EUR    64.769
UkrLandFarming PLC          10.875   3/26/2018   USD     1.879
EDOB Abwicklungs AG          7.500   04/01/2012  EUR     0.642
Koninklijke Luchtvaart M     0.750               CHF    26.250
Norske Skogindustrier AS     7.000  12/30/2026   EUR     0.001
EFG International AG         0.321               EUR    71.748
Air Berlin PLC               5.625   05/09/2019  CHF     0.406
Turkey Government Bond       8.000   03/12/2025  TRY    75.350
Privatbank CJSC Via UK S    10.875   2/28/2018   USD    10.000
Stichting Afwikkeling On    11.250               EUR     1.248
German Pellets GmbH          7.250  11/27/2019   EUR     1.000
Praktiker AG                 5.875   02/10/2016  EUR     0.069
Gamalife - Cia de Seguro     2.957               EUR    72.999
Verimatrix SA                6.000   6/29/2022   EUR     3.790
Senivita Social Estate A     4.000   05/12/2025  EUR     8.010
Tresu Investment Holding     5.000   9/29/2022   EUR    28.250
WD Invest Sarl               1.900   10/02/2024  EUR    10.329
Banco Espirito Santo SA      6.875   7/15/2016   EUR    25.125
Privatbank CJSC Via UK S    11.000   02/09/2021  USD     4.285
Lehman Brothers UK Capit     6.900               USD     3.986
Deutsche Bank AG/London      2.218   3/15/2033   USD    73.092
REM Saltire Holding AS       7.000  12/31/2024   NOK    52.838
International Industrial     9.000   07/06/2011  EUR     0.007
BNG Bank NV                 10.010   6/17/2025   TRY    74.760
Bank Otkritie Financial     10.000   4/26/2019   USD    10.010
Espirito Santo Financial     6.875  10/21/2019   EUR     0.244
FF Group Finance Luxembo     1.750   07/03/2019  EUR     5.442
Joh Friedrich Behrens AG     6.250   6/18/2024   EUR    46.031
Hellenic Republic Govern     2.085   7/25/2057   EUR    48.553
Norske Skogindustrier AS     2.000  12/30/2115   EUR     0.113
Havila Shipping ASA          4.700   01/02/2025  NOK    25.037
Yuksel Insaat AS             9.500   11/10/2015  USD     1.008
International Industrial    11.000   2/19/2013   USD     0.008
DOF Subsea AS                9.500   3/14/2022   USD    27.140
KPNQwest NV                 10.000   3/15/2012   EUR     0.453
Ghelamco Invest              4.500   5/23/2022   EUR    40.000
Claranova SADIR              5.000   07/01/2023  EUR     1.110
Virgolino de Oliveira Fi    10.500   1/28/2018   USD     0.897
Lehman Brothers UK Capit     3.875               EUR     7.069
Windreich GmbH               6.500   03/01/2015  EUR     4.475
OGX Austria GmbH             8.375   04/01/2022  USD     0.002
Hellas Telecommunication     6.054   1/15/2015   USD     0.001
Komplett Bank ASA            8.190               NOK    74.073
Autonomous Community of      2.965   09/08/2039  JPY    69.089
Banca Popolare di Vicenz     2.821  12/20/2017   EUR     0.100
Allied Irish Banks PLC      12.500   6/25/2035   GBP    61.205
LBI ehf                      6.100   8/25/2011   USD     9.842
Banca Popolare di Vicenz     9.500   9/29/2025   EUR     0.049
Alitalia-Societa Aerea I     5.250   7/30/2020   EUR     0.209
Lehman Brothers UK Capit     5.125               EUR     7.127
Saleza AS                    9.000   07/12/2021  EUR     0.203
Grupo Isolux Corsan SA       1.000  12/30/2021   EUR     0.182
New World Resources NV       8.000   04/07/2020  EUR     0.101
Alno AG                      8.500   5/14/2018   EUR    16.325
Cirio Holding Luxembourg     6.250   2/16/2004   EUR     0.723
Offshore Drilling Holdin     8.375   9/20/2020   USD    10.561
Banco Espirito Santo SA      2.102               EUR     0.160
Pentracor GmbH               8.500   5/29/2025   EUR    66.300
Virgolino de Oliveira Fi    11.750   02/09/2022  USD     1.047
Alpine Holding GmbH          6.000   5/22/2017   EUR     2.233
Fuerstenberg Capital Dri     1.609               EUR    55.000
Intralot Capital Luxembo     5.250   9/15/2024   EUR    59.740
UBS AG/London               13.250   05/04/2022  USD    60.150
Norwegian Air Shuttle AS     5.000   02/07/2023  SEK    44.592
ESFIL-Espirito Santo Fin     5.250   06/12/2015  EUR     0.111
Mallinckrodt Internation     5.625  10/15/2023   USD    69.750
Sairgroup Finance BV         4.375   06/08/2006  EUR     1.568
Joh Friedrich Behrens AG     7.750   11/11/2020  EUR    44.000
Hema Bondco II BV            8.500   1/15/2023   EUR     0.780
Mallinckrodt Internation     5.750   08/01/2022  USD    63.646
SAG Solarstrom AG            6.250  12/14/2015   EUR    31.000
Veneto Banca SpA             9.878   12/01/2025  EUR     0.473
Lehman Brothers UK Capit     5.750               EUR     3.962
Sberbank of Russia PJSC      0.010   08/06/2026  RUB    80.100
Portugal Telecom Interna     6.250   7/26/2016   EUR     0.175
Norske Skog Holding AS       8.000   2/24/2021   EUR     0.006
Windreich GmbH               6.500   7/15/2016   EUR     4.475
Finmek International SA      7.000   12/03/2004  EUR     2.193
UniCredit Bank AG            0.107  11/19/2029   EUR    67.373
Cooperatieve Rabobank UA     0.500   7/30/2043   MXN    15.756
Hellas Telecommunication     8.500  10/15/2013   EUR     0.540
Waste Italia SpA            10.500  11/15/2019   EUR     0.753
Intelsat Luxembourg SA      12.500  11/15/2024   USD    65.750
Cooperatieve Rabobank UA     0.500  10/30/2043   MXN    15.015
Societe Centrale des Boi     2.500   5/15/2023   EUR     6.880
Corporate Commercial Ban     8.250   08/08/2014  USD     0.308
Agrokor dd                   9.125   02/01/2020  EUR    15.000
Elli Investments Ltd        12.250   6/15/2020   GBP    52.250
Grupo Isolux Corsan SA       6.000  12/30/2021   EUR     0.177
Credit Suisse AG/London      8.750   08/02/2024  USD     9.750
Cirio Finanziaria SpA        8.000  12/21/2005   EUR     1.682
Sberbank of Russia PJSC      0.010   02/06/2023  RUB    80.100
KPNQwest NV                  8.875   02/01/2008  EUR     0.453
Sberbank of Russia PJSC      0.010   08/03/2028  RUB    80.100
Commerzbank AG               0.077  11/19/2029   EUR    62.729
Mallinckrodt Internation     5.500   4/15/2025   USD    69.250
MS Deutschland Beteiligu     6.875  12/18/2017   EUR     0.620
Aralco Finance SA           10.125   05/07/2020  USD     0.934
Yell Bondco PLC              8.500   05/02/2023  GBP    60.219
SAS AB                       4.410               SEK    25.301
Cirio Del Monte NV           7.750   3/14/2005   EUR     0.614
New World Resources NV       4.000   10/07/2020  EUR     0.231
Bulgaria Steel Finance B    12.000   05/04/2013  EUR     0.216
Banco Espirito Santo SA      2.282               EUR     0.237
Espirito Santo Financial     3.125   12/02/2018  EUR     1.093
Cooperatieve Rabobank UA     0.500   1/31/2033   MXN    36.317
Rallye SA                    1.000   10/02/2020  EUR    27.353
JP Morgan Structured Pro     0.379   9/30/2021   EUR     1.000
Bank Nadra Via NDR Finan     8.250   7/31/2018   USD     0.208
JP Morgan Structured Pro     0.379   9/30/2021   EUR     1.000
CBo Territoria               3.750   07/01/2024  EUR     4.720
Krakowski Bank Spoldziel     3.550   9/20/2023   PLN    70.000
Banco Espirito Santo SA      6.900   6/28/2024   EUR    25.159
Intelsat Jackson Holding     9.750   7/15/2025   USD    54.422
Sidetur Finance BV          10.000   4/20/2016   USD     1.809
Alno AG                      8.000   3/21/2019   EUR    16.200
Nostrum Oil & Gas Financ     8.000   7/25/2022   USD    27.606
International Finance Fa     0.500   6/29/2027   ZAR    65.878
JP Morgan Structured Pro     0.379   9/30/2021   EUR     1.000
Cirio Finance Luxembourg     7.500   11/03/2002  EUR     2.657
Kardan NV                    6.325   2/21/2021   ILS    14.100
Lehman Brothers Treasury     5.220   03/01/2024  EUR     0.100
Kommunekredit                0.500   7/30/2027   TRY    35.633
SpareBank 1 SR-Bank ASA      1.212  12/21/2030   EUR    73.674
Veneto Banca SpA             6.944   5/15/2025   EUR     0.473
Alpine Holding GmbH          5.250   07/01/2015  EUR     2.233
OGX Austria GmbH             8.500   06/01/2018  USD     0.002
Sberbank of Russia PJSC      0.010   8/21/2028   RUB    80.100
Lloyds Bank PLC              0.500   7/26/2028   MXN    59.418
Phones4u Finance PLC         9.500   04/01/2018  GBP    71.750
Uppfinnaren 1 AB            11.000               SEK    40.000
KPNQwest NV                  7.125   06/01/2009  EUR     0.453
Rena GmbH                    8.250   07/11/2018  EUR     2.096
CRC Breeze Finance SA        6.110   05/08/2026  EUR    30.226
Intelsat Luxembourg SA      12.500  11/15/2024   USD    65.750
Phosphorus Holdco PLC       10.000   04/01/2019  GBP     0.974
Erotik-Abwicklungsgesell     7.750   07/09/2019  EUR     0.779
Sberbank of Russia PJSC      0.010   8/24/2026   RUB    80.100
Finance and Credit Bank      9.250   1/25/2019   USD     0.257
Hamon & CIE SA               3.300   1/31/2035   EUR    45.361
Virgolino de Oliveira Fi    10.500   1/28/2018   USD     0.897
Steilmann SE                 7.000   03/09/2017  EUR     1.429
Agrokor dd                   8.875   02/01/2020  USD    15.000
Naviera Armas SA             4.250  11/15/2024   EUR    74.901
Erste Group Bank AG          5.550   8/30/2022   EUR    44.300
Moby SpA                     7.750   2/15/2023   EUR    35.413
Bilt Paper BV               10.360               USD     1.253
Norwegian Air Shuttle AS     6.375  11/15/2024   USD    49.841
Cattles Ltd                  8.125   07/05/2017  GBP     0.027
Getin Noble Bank SA          5.250  12/21/2023   PLN    66.875
Depfa Funding III LP         0.235               EUR    57.439
Island Offshore Shiphold     2.790   6/30/2022   NOK     4.806
Erste Group Bank AG          4.350   2/20/2022   EUR    35.550
Banco Santander SA           1.858               EUR     1.569
O1 Properties Finance PL     8.250   9/27/2021   USD    11.969
Del Monte Finance Luxemb     6.625   5/24/2006   EUR     2.806
Depfa Funding II LP          6.500               EUR    60.536
Peine GmbH                   2.000   07/05/2023  EUR    44.500
Espirito Santo Financial     9.750  12/19/2025   EUR     0.384
Steilmann SE                 7.000   9/23/2018   EUR     1.429
Portugal Telecom Interna     5.242   11/06/2017  EUR     0.694
Intelsat Jackson Holding     8.500  10/15/2024   USD    54.159
Espirito Santo Financial     5.050  11/15/2025   EUR     1.015
Nostrum Oil & Gas Financ     7.000   2/16/2025   USD    27.943
Ahtium PLC                   4.000  12/16/2015   EUR     0.586
Agrokor dd                   8.875   02/01/2020  USD    15.000
SiC Processing GmbH          7.125   03/01/2016  EUR     2.410
Credit Suisse AG/London     12.450   12/08/2021  USD    15.140
La Veggia Finance SA         7.125  11/14/2004   EUR     0.287
KTG Agrar SE                 7.250  10/15/2019   EUR     2.804
Phones4u Finance PLC         9.500   04/01/2018  GBP    71.750
DZ Bank AG Deutsche Zent     0.488   03/11/2031  EUR    60.539
ECM Real Estate Investme     5.000   10/09/2011  EUR    15.375
Norske Skog Holding AS       8.000   2/24/2023   USD     0.006
Pescanova SA                 5.125   4/20/2017   EUR     0.319
Alpine Holding GmbH          5.250   06/10/2016  EUR     2.233
Rena GmbH                    7.000  12/15/2015   EUR     2.096
Caixa Economica Montepio     5.000               EUR    50.060
Credit Suisse AG/London      7.500  10/25/2021   USD    74.240
Mox Telecom AG               7.250   11/02/2017  EUR     2.255
A-TEC Industries AG          2.750   05/10/2014  EUR     0.100
Tonon Luxembourg SA          9.250   1/24/2020   USD     1.000
WPE International Cooper    10.375   9/30/2020   USD     5.000
SAG Solarstrom AG            7.500   07/10/2017  EUR    31.000
Orange SA                    3.000   6/15/2022   EUR    10.000
Veneto Banca SpA             6.411               EUR     0.336
New World Resources NV       8.000   04/07/2020  EUR     0.101
Rio Forte Investments SA     4.000   7/22/2014   EUR     5.772
Veneto Banca SpA             6.950   2/25/2025   EUR     0.473
Solon SE                     1.375   12/06/2012  EUR     0.745
Vneshprombank Ltd Via VP     9.000  11/14/2016   USD     0.078
Stichting Afwikkeling On     6.625   5/14/2018   EUR     5.375
NTRP Via Interpipe Ltd      10.250   08/02/2017  USD    30.500
SFO Akkord Finans           10.000   02/12/2024  RUB    69.370
Intelsat Connect Finance     9.500   2/15/2023   USD    32.898
Norske Skogindustrier AS     7.125  10/15/2033   USD     0.001
Agrokor dd Via Aquarius      4.921   08/08/2017  EUR    14.625
Leonteq Securities AG        8.000   9/14/2021   CHF    53.410
Steilmann SE                 6.750   6/27/2017   EUR     2.184
Cooperatieve Rabobank UA     0.500  10/29/2027   MXN    62.381
Agrokor dd                   9.125   02/01/2020  EUR    15.000
KPNQwest NV                  8.125   06/01/2009  USD     0.453
Thomas Cook Group PLC        6.250   6/15/2022   EUR     0.909
Bulgaria Steel Finance B    12.000   05/04/2013  EUR     0.216
BRAbank ASA/NO               7.210               NOK    52.294
A-TEC Industries AG          8.750  10/27/2014   EUR     0.100
Intelsat Jackson Holding     9.750   7/15/2025   USD    54.422
Stichting Afwikkeling On     2.207               EUR     1.248
Virgolino de Oliveira Fi    10.875   1/13/2020   USD    34.000
Mifa Mitteldeutsche Fahr     7.500   08/12/2018  EUR     2.000
Ahtium PLC                   9.750   04/04/2017  EUR     0.726
Air Berlin Finance BV        8.500   03/06/2019  EUR     0.357
KPNQwest NV                  7.125   06/01/2009  EUR     0.453
Air Berlin Finance BV        6.000   03/06/2019  EUR     0.357
Havila Shipping ASA          3.950   01/02/2025  NOK    51.707
TransKomplektHolding OOO     9.500   11/02/2028  RUB    70.000
Resa SA/Belgium              1.950   7/22/2036   EUR    50.000
Credit Suisse AG/London     20.000   12/07/2021  USD    67.800
COFIDUR SA                   0.100  12/31/2024   EUR    24.050
Senvion Holding GmbH         3.875  10/25/2022   EUR     0.358
Sairgroup Finance BV         6.625   10/06/2010  EUR     1.568
Gebr Sanders GmbH & Co K     8.750  10/22/2018   EUR     9.375
getgoods.de AG               7.750   10/02/2017  EUR     0.404
SG Issuer SA                 5.000   04/02/2024  EUR    58.920
Pongs & Zahn AG              8.500   11/01/2014  EUR     0.002
Credit Suisse AG/London     11.150   12/08/2021  CHF    14.060
UBS AG/London               11.250   02/03/2023  CHF    67.450
Cooperatieve Rabobank UA     0.500  11/30/2027   MXN    61.932
Sequa Petroleum NV           5.000   4/29/2020   USD    30.500
German Pellets GmbH          7.250   04/01/2016  EUR     1.000
Pescanova SA                 6.750   03/05/2015  EUR     0.319
Lehman Brothers Treasury     1.000   10/05/2035  EUR     0.100
BOA Offshore AS              0.409   7/17/2047   NOK     8.805
Derzhava-Garant OOO          9.500   06/12/2030  RUB     6.890
Dyadya Doner OOO            13.500   4/25/2023   RUB    15.600
Tonon Luxembourg SA         12.500   5/14/2024   USD     0.399
Banco Espirito Santo SA     10.000   12/06/2021  EUR     0.139
Cooperatieve Rabobank UA     0.500   8/21/2028   MXN    58.146
Credit Suisse AG/London     14.500   08/02/2024  USD     9.750
Barclays Bank PLC            5.000   11/01/2029  BRL    62.107
Pescanova SA                 8.750   2/17/2019   EUR     0.319
WEB Windenergie AG           4.000  12/17/2025   EUR     0.010
SALVATOR Vermoegensverwa     9.500               EUR     9.000
HPI AG                       3.500               EUR     3.011
Center-Invest Commercial     6.000   03/03/2022  RUB    66.000
KPNQwest NV                  7.125   06/01/2009  EUR     0.453
Credito Padano Banca di      3.100               EUR    33.690
Credito Padano Banca di      3.100               EUR    33.917
Hellas Telecommunication     8.500  10/15/2013   EUR     0.540
Komplett Bank ASA            5.240   03/03/2031  NOK    74.087
SAir Group                   0.125   07/07/2005  CHF    12.625
Eiendomskreditt AS           2.050   9/17/2029   NOK    68.640
UkrLandFarming PLC          10.875   3/26/2018   USD     1.879
Golden Gate AG               6.500   10/11/2014  EUR    37.300
Landesbank Baden-Wuertte     6.000   8/27/2021   EUR    71.920
Russian Post FGUP            2.750   12/06/2023  RUB    70.000
Landesbank Baden-Wuertte     7.000  11/26/2021   EUR    72.210
Phosphorus Holdco PLC       10.000   04/01/2019  GBP     0.974
Hema Bondco II BV            8.500   1/15/2023   EUR     0.780
German Pellets GmbH          7.250   07/09/2018  EUR     1.000
Credit Suisse AG/London     11.600   12/08/2021  EUR    15.630
Erste Group Bank AG          8.000   7/31/2024   EUR    69.500
Deutsche Bank AG/London     13.750   6/20/2026   TRY    72.972
WEB Windenergie AG           2.500   9/26/2021   EUR     0.010
Golfino AG                   8.000  11/18/2023   EUR     0.020
Bayerische Landesbank        1.450   1/26/2024   EUR    56.060
Credit Suisse AG/London     20.000  11/29/2024   USD    13.440
Landesbank Baden-Wuertte     4.000  11/26/2021   EUR    68.600
Otkritie Holding JSC        10.000   4/20/2028   RUB     3.080
Dr Wiesent Sozial gGmbH      7.000               EUR     0.012
Bank ZENIT PJSC              0.100   3/27/2025   RUB    92.000
Landesbank Baden-Wuertte     4.100  10/22/2021   EUR    71.770
Landesbank Baden-Wuertte     5.250  11/26/2021   EUR    66.610
SG Issuer SA                 2.100   5/16/2033   EUR    29.580
Credit Suisse AG/London  #N/A N/A    8/18/2022   USD     9.010
Muehl Product & Service      6.750   03/10/2005  DEM     0.102
Agrokor dd                   9.875   05/01/2019  EUR    15.000
KPNQwest NV                  8.875   02/01/2008  EUR     0.453
Cooperatieve Rabobank UA     0.500  12/29/2027   MXN    61.586
Virgolino de Oliveira Fi    11.750   02/09/2022  USD     1.047
Deutsche Agrar Holding G     7.250   9/28/2018   EUR     1.254
Privatbank CJSC Via UK S    10.875   2/28/2018   USD    10.000
Leonteq Securities AG        5.400   7/25/2022   CHF    57.920
Windreich GmbH               6.250   03/01/2015  EUR     4.475
Credit Suisse AG             0.500  12/16/2025   BRL    63.025
Russian Bank for Small &     8.500   12/03/2030  RUB    65.030
Norske Skog Holding AS       8.000   2/24/2023   USD     0.006
AlphaNotes ETP Dac           0.010   09/09/2029  USD    69.815
HSBC Bank PLC                0.500   6/23/2027   MXN    64.059
SG Issuer SA                 3.000   09/02/2021  EUR    30.870
RENE LEZARD Mode GmbH        7.250  11/25/2017   EUR     0.200
Landesbank Baden-Wuertte     3.250  11/26/2021   EUR    75.240
Northland Resources AB       4.000  10/15/2020   NOK     0.271
Mriya Agro Holding PLC       9.450   4/19/2018   USD     4.667
Ukraine Government Bond      6.000  12/23/2026   UAH    72.458
Ukraine Government Bond      8.120   11/10/2035  UAH    67.330
Irish Bank Resolution Co     6.750  11/30/2013   BGN    33.250
Petromena ASA                9.750   5/24/2016   NOK     0.607
A-TEC Industries AG          5.750   11/02/2010  EUR     0.100
Barclays Bank PLC            5.090   06/08/2022  USD     9.930
DeltaCredit Bank JSC         1.000  10/20/2025   RUB    70.020
SG Issuer SA                 8.700   1/20/2025   SEK    68.370
Hellas Telecommunication     6.054   1/15/2015   USD     0.001
Heta Asset Resolution AG     5.730  12/31/2023   EUR     1.440
Decipher Production Ltd     12.500   9/27/2019   USD     1.500
Thomas Cook Finance 2 PL     3.875   7/15/2023   EUR     1.778
Virgolino de Oliveira Fi    10.875   1/13/2020   USD    34.000
Rio Forte Investments SA     3.900   07/10/2014  USD     5.750
Societe Generale SA          8.500   9/30/2021   USD    43.100
Leonteq Securities AG       10.000   7/20/2022   CHF    51.490
Leonteq Securities AG       18.000  11/24/2021   CHF    60.120
BrokerCreditService Stru     3.000   2/28/2023   USD    71.000
Lehman Brothers Treasury     2.875   3/14/2013   CHF     0.100
Ukraine Government Bond      8.880   05/10/2032  UAH    75.129
EDOB Abwicklungs AG          7.500   04/01/2012  EUR     0.642
Instabank ASA                5.190   3/28/2028   NOK    60.798
Dolphin Drilling ASA         4.490   8/28/2019   NOK     0.644
Natixis SA                   0.300   6/25/2048   USD    52.118
Getin Noble Bank SA          5.250   7/28/2023   PLN    72.875
UBS AG/London               16.300   01/08/2024  EUR    42.050
UniCredit Bank AG            4.250  11/21/2021   EUR    30.180
SALVATOR Vermoegensverwa     9.500  12/31/2021   EUR     8.800
Landesbank Baden-Wuertte     5.000   8/27/2021   EUR    61.260
Credit Suisse AG/London      5.800   07/12/2023  USD     9.720
Santander Consumer Bank      5.110               NOK    44.368
AKB Peresvet ZAO            13.250   4/25/2018   RUB    27.750
Norske Skogindustrier AS     7.125  10/15/2033   USD     0.001
Banca Popolare di Vicenz     9.500   10/02/2025  EUR     0.049
Gold-Zack AG                 7.000  12/14/2005   EUR     5.000
Bank Julius Baer & Co Lt    11.700   4/26/2022   CHF    52.150
EFG International Financ     9.800   9/21/2021   EUR    76.310
Vontobel Financial Produ    24.380   12/08/2021  USD    65.962
Getin Noble Bank SA          5.250   5/31/2023   PLN    67.075
Windreich GmbH               6.750   03/01/2015  EUR     4.475
Espirito Santo Financial     5.125   5/30/2016   EUR     0.528
BNP Paribas SA               0.500  11/16/2032   MXN    29.332
Lehman Brothers Treasury     4.800  11/16/2012   HKD     0.100
KPNQwest NV                  8.875   02/01/2008  EUR     0.453
Stichting Afwikkeling On     8.450   8/20/2018   USD     5.375
Bank Otkritie Financial      0.010   9/24/2025   RUB    72.010
Santander Consumer Bank      5.110               NOK    44.368
Espirito Santo Financial     5.050  11/15/2025   EUR     0.874
Lehman Brothers Treasury     4.250   3/13/2021   EUR     0.100
MIK OAO                     15.000   2/19/2020   RUB    13.875
Lehman Brothers Treasury     2.000   3/16/2035   EUR     0.100
Teksid Aluminum Luxembou    12.375   7/15/2011   EUR     0.122
Solarwatt GmbH               7.000   11/01/2015  EUR    15.500
BLT Finance BV              12.000   02/10/2015  USD    10.500
UniCredit Bank AG            3.600   8/23/2021   EUR    34.220
Raiffeisen Switzerland B     4.000   8/30/2022   CHF    39.950
Banque Cantonale Vaudois    10.875   11/05/2021  EUR    70.700
UniCredit Bank AG            6.600   7/20/2028   EUR    50.170
Leonteq Securities AG/Gu     2.750   9/15/2022   CHF    15.800
DeloPorts LLC                0.010  11/14/2025   RUB    70.010
Leonteq Securities AG/Gu    15.000  10/20/2021   USD    54.290
Leonteq Securities AG/Gu    20.000   11/04/2021  CHF    55.340
BrokerCreditService Stru     3.000   04/03/2022  USD    54.100
UBS AG/London               13.500   4/14/2022   CHF    61.700
BrokerCreditService Stru     8.000   1/30/2024   USD    56.000
UniCredit Bank AG            6.600   9/13/2023   EUR    71.970
Lehman Brothers Treasury     1.750   02/07/2010  EUR     0.100
Heta Asset Resolution AG     0.211  12/31/2023   EUR     1.440
Lehman Brothers Treasury     6.000  10/24/2008   EUR     0.100
Norske Skogindustrier AS     7.000  12/30/2026   EUR     0.001
Ukraine Government Bond      6.000   1/22/2031   UAH    61.368
Credit Agricole Corporat    10.200   08/06/2026  TRY    74.710
LBI ehf                      6.100   8/25/2011   USD     9.842
Nutritek International C     8.750   12/11/2008  USD     2.089
Lehman Brothers Treasury     4.600   08/01/2013  EUR     0.100
Waste Italia SpA            10.500  11/15/2019   EUR     0.753
New World Resources NV       4.000   10/07/2020  EUR     0.231
Santander Consumer Bank      5.110               NOK    44.368
Mriya Agro Holding PLC      10.950   3/30/2016   USD     4.667
Minicentrales Dos SA         0.010   06/06/2047  EUR    59.375
Landesbank Baden-Wuertte     5.400   2/25/2022   EUR    68.340
Rosseti South PJSC           9.240   07/01/2022  RUB    70.020
UBS AG/London               15.000   06/03/2022  USD    66.550
OOO SPV Structural Inves     0.010   09/01/2023  RUB    66.740
Rio Forte Investments SA     4.750   11/10/2015  EUR     5.750
Credit Agricole Corporat    10.800   3/24/2026   TRY    74.527
PA Resources AB             13.500   03/03/2016  SEK     0.124
Lehman Brothers Treasury     4.000   4/13/2011   CHF     0.100
Heta Asset Resolution AG     4.350  12/31/2023   EUR     1.440
International Bank of Az     8.250   10/09/2024  USD    60.375
Centrosolar Group AG         7.000   2/15/2016   EUR     2.505
UBS AG/London               15.000   8/26/2021   CHF    65.900
Landesbank Baden-Wuertte     3.700   2/25/2022   EUR    72.120
Leonteq Securities AG/Gu     4.000   08/10/2022  CHF    58.780
SG Issuer SA                 0.263   2/20/2025   EUR    18.870
WEB Windenergie AG           4.500               EUR     0.010
Credit Suisse AG/London      5.200   8/17/2022   USD     9.829
EFG International Financ    12.750   1/31/2022   USD    62.570
Leonteq Securities AG/Gu     4.890  11/26/2021   USD    71.130
Activa Resources AG          0.500  11/15/2021   EUR     0.500
Landesbank Baden-Wuertte     4.000  11/26/2021   EUR    72.770
Landesbank Baden-Wuertte     4.750   8/27/2021   EUR    73.520
Landesbank Baden-Wuertte     2.750   8/27/2021   EUR    68.570
Landesbank Baden-Wuertte     3.500   8/27/2021   EUR    65.940
Credit Suisse AG/London     12.450   12/08/2021  USD    15.810
Leonteq Securities AG       28.630  12/15/2021   CHF    68.720
Credit Suisse AG/London      5.880   6/28/2023   USD    10.000
Leonteq Securities AG       15.000   6/21/2022   CHF    68.450
Credit Suisse AG/London     27.250   07/03/2024  USD     9.700
Bank Julius Baer & Co Lt     8.200  10/15/2021   EUR    65.600
Credit Suisse AG/London      4.600   11/09/2022  USD     9.900
EFG International Financ     9.700   9/26/2022   CHF    11.400
Credit Suisse AG/London     10.000   02/02/2023  USD    10.000
Landesbank Baden-Wuertte     3.000  11/26/2021   EUR    71.710
SAir Group                   2.750   7/30/2004   CHF    12.625
Northland Resources AB       4.000  10/15/2020   USD     0.271
Ukraine Government Bond      6.000   9/18/2030   UAH    62.084
Ukraine Government Bond      6.000   06/12/2030  UAH    62.663
Ukraine Government Bond      6.000   4/23/2031   UAH    60.850
Bank Otkritie Financial     10.000   4/26/2019   USD    10.010
Minicentrales Dos SA         0.010   06/06/2047  EUR    67.500
City of Novosibirsk Russ     7.300   10/08/2026  RUB    69.470
Russian Federal Bond - O     0.250   7/20/2044   RUB    17.800
Norske Skogindustrier AS     2.000  12/30/2115   EUR     0.113
Lehman Brothers Treasury     6.450   2/20/2010   AUD     0.100
DANY COLL LLC                0.100   7/19/2022   RUB     1.160
Barclays Bank PLC            0.500   1/28/2033   MXN    35.019
Bibby Offshore Services      7.500   6/15/2021   GBP    11.625
Mriya Agro Holding PLC       9.450   4/19/2018   USD     4.667
Vontobel Financial Produ    23.950   06/03/2022  EUR    71.944
BNP Paribas Emissions- u    29.000   9/23/2021   EUR    61.210
SG Issuer SA                 5.000   5/23/2024   EUR    59.840
Leonteq Securities AG       11.000   01/03/2022  CHF    56.000
Landesbank Baden-Wuertte     4.500   8/27/2021   EUR    55.310
Societe Generale SA          6.000   06/06/2022  USD     0.470
Societe Generale SA          6.000   05/09/2022  USD     4.780
Danske Bank A/S              6.860   07/09/2022  SEK    25.870
Leonteq Securities AG        4.000  12/18/2026   CHF    66.160
Barclays Bank PLC            2.730   9/27/2024   EUR    60.620
Ukraine Government Bond      6.000  10/15/2031   UAH    59.927
Ukraine Government Bond      8.420   05/10/2034  UAH    70.484
Credit Agricole Corporat    10.500   2/16/2027   TRY    74.572
SAir Group                   4.250   02/02/2007  CHF    12.625
Credit Agricole Corporat     9.450   03/08/2027  TRY    70.559
LBI ehf                      7.431               USD     0.001
AKB Peresvet ZAO             0.510   2/14/2032   RUB    12.700
Rosbank PJSC                 0.040   4/30/2024   RUB    65.000
SAir Group                   6.250  10/27/2002   CHF    12.625
Astana Finance BV            7.875   06/08/2010  EUR    16.000
Credit Agricole Corporat    10.320   7/22/2026   TRY    75.088
AKB Peresvet ZAO             0.510   6/23/2021   RUB    27.180
Lehman Brothers Treasury     3.700   06/06/2009  EUR     0.100
SAir Group                   5.500   7/23/2003   CHF    12.625
Instabank ASA                7.190               NOK    36.850
Heta Asset Resolution AG     4.875  12/31/2023   EUR     1.440
IT Holding Finance SA        9.875  11/15/2012   EUR     0.031
Credit Agricole Corporat    10.200  12/13/2027   TRY    71.635
SAir Group                   2.125   11/04/2004  CHF    12.625
DZ Bank AG Deutsche Zent     7.930   9/24/2021   EUR    62.850
SG Issuer SA                 0.850   7/29/2024   EUR    15.370
WEB Windenergie AG           5.250   04/08/2023  EUR     0.010
Landesbank Baden-Wuertte     6.250   8/27/2021   EUR    70.910
Landesbank Baden-Wuertte    13.180   1/28/2022   EUR    68.260
SAir Group                   5.125   03/01/2003  CHF    12.750
Bank Julius Baer & Co Lt    13.800   11/01/2021  USD    54.700
Bank2 ASA                    5.270               NOK    57.898
Petromena ASA               10.850  11/19/2018   USD     0.622
LBI ehf                      2.250   2/14/2011   CHF     9.250
SAir Group                   2.750   7/30/2004   CHF    12.625
Sberbank CIB JSC             0.010   01/04/2030  RUB    54.296
Norske Skog Holding AS       8.000   2/24/2021   EUR     0.006
Lehman Brothers Treasury     8.000   4/20/2009   EUR     0.100
Heta Asset Resolution AG     7.500  12/31/2023   ATS     1.440
Bibby Offshore Services      7.500   6/15/2021   GBP    11.625
SAir Group                   6.250   04/12/2005  CHF    12.625
UBS AG/London                7.000   9/23/2021   EUR    68.320
UBS AG/London               12.250   8/26/2021   CHF    68.650
UBS AG/London               10.750   8/26/2021   CHF    68.550
UBS AG/London               10.250   8/26/2021   CHF    70.550
UBS AG/London               10.000   8/26/2021   EUR    61.800
Raiffeisen Schweiz Genos     6.500   09/02/2021  CHF    71.180
Landesbank Baden-Wuertte     4.000   2/25/2022   EUR    72.400
Landesbank Baden-Wuertte     6.400   2/25/2022   EUR    63.600
Landesbank Baden-Wuertte     3.900   2/25/2022   EUR    71.880
Landesbank Baden-Wuertte     5.000   2/25/2022   EUR    67.380
Landesbank Baden-Wuertte     4.900   2/25/2022   EUR    70.650
Landesbank Baden-Wuertte     3.400   2/25/2022   EUR    74.180
Landesbank Baden-Wuertte     4.800   3/25/2022   EUR    70.920
UBS AG/London               11.000   09/06/2021  CHF    72.800
UBS AG/London               12.500   09/06/2021  CHF    69.700
UBS AG/London                8.000   03/04/2022  EUR    68.300
UBS AG/London                7.500   09/06/2021  CHF    72.400
UBS AG/London                8.500   09/06/2021  CHF    68.950
UniCredit Bank AG            5.450   3/15/2022   EUR    41.050
UniCredit Bank AG            4.100   8/24/2022   EUR    65.820
UniCredit Bank AG            4.000   2/28/2022   EUR    61.280
Landesbank Baden-Wuertte     4.000  10/22/2021   EUR    36.970
Landesbank Baden-Wuertte     2.600   9/23/2022   EUR    70.960
EFG International Financ    12.000  10/19/2021   USD    60.140
DekaBank Deutsche Giroze     2.300   11/12/2021  EUR    53.090
Leonteq Securities AG/Gu     6.200  10/18/2021   CHF    71.240
Leonteq Securities AG/Gu     7.000  10/19/2021   CHF    70.940
Leonteq Securities AG/Gu     6.100   2/21/2022   CHF    73.020
Landesbank Baden-Wuertte     3.050   9/23/2022   EUR    53.100
Bayerische Landesbank        2.000   2/18/2022   EUR    59.360
Landesbank Baden-Wuertte     2.800   4/25/2022   EUR    58.720
Danske Bank A/S             10.300   07/09/2023  SEK    11.200
Raiffeisen Schweiz Genos     5.800   9/28/2021   CHF    63.920
EFG International Financ    10.500   02/07/2022  EUR    64.300
Landesbank Baden-Wuertte     3.050   9/23/2022   EUR    71.000
Leonteq Securities AG/Gu     8.130   2/21/2022   EUR    60.400
Leonteq Securities AG/Gu     4.000   2/21/2022   EUR    62.800
UBS AG/London               10.750   8/19/2021   CHF    70.950
Landesbank Baden-Wuertte     4.700   3/25/2022   EUR    40.070
Landesbank Baden-Wuertte     3.300   3/25/2022   EUR    48.520
UBS AG/London               11.500   8/19/2021   CHF    70.900
UniCredit Bank AG            4.200   03/01/2023  EUR    67.080
EFG International Financ    14.800   8/19/2021   CHF    41.060
Bayerische Landesbank        2.500   12/03/2021  EUR    52.790
DekaBank Deutsche Giroze     3.100   12/03/2021  EUR    40.280
Zurcher Kantonalbank Fin     8.000   2/25/2022   CHF    71.450
UBS AG/London                6.500   8/19/2021   CHF    60.950
UBS AG/London                5.500   8/19/2021   EUR    60.900
UBS AG/London               10.000   8/19/2021   CHF    68.000
UBS AG/London                7.000   2/21/2022   EUR    61.950
UBS AG/London                5.750   8/20/2021   EUR    72.750
UniCredit Bank AG            9.000  12/27/2021   EUR    68.780
Landesbank Baden-Wuertte     2.500   3/25/2022   EUR    71.310
UniCredit Bank AG            4.300  12/19/2021   EUR    52.940
EFG International Financ     7.000   5/23/2022   EUR    38.140
Landesbank Baden-Wuertte     2.750   3/25/2022   EUR    56.060
UniCredit Bank AG            4.450  12/29/2022   EUR    32.780
Raiffeisen Switzerland B     4.800  11/23/2023   CHF    43.200
UniCredit Bank AG            5.050   01/11/2022  EUR    65.510
DekaBank Deutsche Giroze     2.150   1/21/2022   EUR    65.960
Vontobel Financial Produ     9.500   9/24/2021   EUR    72.660
Vontobel Financial Produ    11.500   9/24/2021   EUR    68.720
Vontobel Financial Produ    10.500   9/24/2021   EUR    70.630
Vontobel Financial Produ    12.500   9/24/2021   EUR    66.920
Landesbank Baden-Wuertte     3.500   1/28/2022   EUR    58.230
Landesbank Baden-Wuertte     5.700   1/28/2022   EUR    50.500
DZ Bank AG Deutsche Zent     5.750   9/22/2021   EUR    66.590
DZ Bank AG Deutsche Zent     7.000   9/20/2021   EUR    71.400
Vontobel Financial Produ    17.500   9/24/2021   EUR    55.910
Landesbank Baden-Wuertte     5.100  11/25/2022   EUR    64.320
Vontobel Financial Produ    16.000   9/24/2021   EUR    57.720
Vontobel Financial Produ    19.500   9/24/2021   EUR    54.280
Vontobel Financial Produ    21.500   9/24/2021   EUR    52.740
Landesbank Baden-Wuertte     3.200  11/25/2022   EUR    68.660
Societe Generale Effekte     3.000   7/22/2022   USD     5.250
Raiffeisen Switzerland B    10.500   07/11/2024  USD    19.760
UniCredit Bank AG            4.300  10/18/2021   EUR    33.640
UniCredit Bank AG            3.800  10/24/2021   EUR    54.090
UniCredit Bank AG            4.050  10/24/2021   EUR    56.160
DekaBank Deutsche Giroze     1.000   11/02/2021  EUR    48.960
Landesbank Baden-Wuertte     2.550  12/27/2021   EUR    51.560
Landesbank Baden-Wuertte     2.500  12/27/2021   EUR    58.670
Vontobel Financial Produ     9.500  12/24/2021   EUR    56.030
Vontobel Financial Produ    11.000  12/24/2021   EUR    54.230
Vontobel Financial Produ    10.000   3/25/2022   EUR    55.940
Vontobel Financial Produ    11.500   3/25/2022   EUR    54.410
Vontobel Financial Produ     9.000  12/24/2021   EUR    57.080
Vontobel Financial Produ     8.000   3/25/2022   EUR    57.510
Vontobel Financial Produ    13.000   3/25/2022   EUR    53.010
Vontobel Financial Produ    16.500  12/24/2021   EUR    68.410
UniCredit Bank AG            4.200   9/21/2022   EUR    42.730
Societe Generale SA          9.000   7/22/2022   USD    57.500
UniCredit Bank AG            3.800  12/29/2022   EUR    66.630
Societe Generale Effekte     5.600   09/04/2023  EUR    36.260
Leonteq Securities AG/Gu     5.600   8/24/2021   CHF    44.410
EFG International Financ     6.500   8/30/2021   CHF    63.160
Zurcher Kantonalbank Fin     8.500   8/24/2021   CHF    65.880
Raiffeisen Schweiz Genos     5.250   8/24/2021   CHF    67.570
Landesbank Baden-Wuertte     3.000   9/23/2022   EUR    49.230
Landesbank Baden-Wuertte     2.500   9/23/2022   EUR    70.800
WEB Windenergie AG           2.250   9/25/2028   EUR     0.010
UniCredit Bank AG            4.600   9/14/2022   EUR    62.380
DekaBank Deutsche Giroze     6.300   10/01/2021  EUR    44.270
UBS AG/London               14.000   02/10/2022  CHF    57.400
EFG International Financ     6.200   08/05/2022  EUR    58.130
Leonteq Securities AG        7.200   09/08/2021  CHF    55.790
DekaBank Deutsche Giroze     3.300   04/08/2022  EUR    43.030
Leonteq Securities AG/Gu     4.000   03/08/2022  EUR    45.770
Leonteq Securities AG/Gu    11.400   9/20/2021   CHF     2.690
Landesbank Baden-Wuertte     3.700   9/24/2021   EUR    51.380
Landesbank Baden-Wuertte     2.500   6/24/2022   EUR    55.650
DZ Bank AG Deutsche Zent    19.900   9/24/2021   EUR    70.470
Credit Suisse AG/London      4.250   03/07/2022  USD     9.900
Vontobel Financial Produ     8.500  12/24/2021   EUR    68.220
Vontobel Financial Produ    14.500   9/24/2021   EUR    73.870
Leonteq Securities AG       12.400   05/12/2022  CHF    68.540
UBS AG/London               21.250   2/18/2022   USD    46.100
Leonteq Securities AG/Gu     5.000   9/13/2021   CHF    67.770
Leonteq Securities AG        6.000   9/14/2021   CHF    66.380
DekaBank Deutsche Giroze     2.300   9/24/2021   EUR    45.970
DZ Bank AG Deutsche Zent    21.800  12/24/2021   EUR    72.470
DZ Bank AG Deutsche Zent    22.000   9/24/2021   EUR    68.100
DZ Bank AG Deutsche Zent    18.500  12/24/2021   EUR    71.990
Corner Banca SA              6.400   09/07/2021  CHF    63.740
Vontobel Financial Produ    23.000   9/24/2021   EUR    68.820
Vontobel Financial Produ    15.500   9/24/2021   EUR    59.770
Vontobel Financial Produ    14.000   9/24/2021   EUR    61.870
Vontobel Financial Produ    12.000   9/24/2021   EUR    64.120
Landesbank Baden-Wuertte     3.950  12/27/2021   EUR    65.960
Landesbank Baden-Wuertte     6.900  12/27/2021   EUR    59.310
Credit Suisse AG/Nassau     13.000  11/26/2021   USD    59.900
Landesbank Baden-Wuertte     7.750   5/27/2022   EUR    70.980
Landesbank Baden-Wuertte     6.500   5/27/2022   EUR    68.040
UBS AG/London               16.000   9/19/2022   CHF    65.550
Vontobel Financial Produ    21.000  12/24/2021   EUR    72.360
Leonteq Securities AG       24.530   4/22/2022   CHF    59.910
Vontobel Financial Produ    12.500   3/25/2022   EUR    73.967
Vontobel Financial Produ    19.500   3/25/2022   EUR    73.360
DZ Bank AG Deutsche Zent    10.500   4/22/2022   EUR    70.160
Leonteq Securities AG/Gu    21.100   4/21/2022   CHF    69.500
Zuercher Kantonalbank        8.624   4/25/2022   CHF     0.044
Societe Generale SA          3.900   3/23/2022   USD     0.090
Bank Julius Baer & Co Lt    18.300   2/18/2022   USD    64.600
Skandinaviska Enskilda B     6.300   7/15/2022   SEK    73.110
UniCredit Bank AG            5.550   7/19/2022   EUR    64.390
Societe Generale Effekte     5.250  10/22/2021   EUR    64.680
Societe Generale Effekte     7.250  10/22/2021   EUR    59.000
Societe Generale Effekte     9.250  10/22/2021   EUR    54.950
Societe Generale Effekte    13.250  10/22/2021   EUR    49.320
Citigroup Global Markets     9.000   8/18/2022   USD     0.689
Landesbank Baden-Wuertte     4.000   5/27/2022   EUR    41.110
Landesbank Baden-Wuertte     3.300   5/27/2022   EUR    49.480
Bayerische Landesbank        3.700   7/15/2022   EUR    72.030
UniCredit Bank AG            4.450   09/11/2023  EUR    52.380
Landesbank Baden-Wuertte     5.250   4/28/2023   EUR    72.530
Barclays Bank PLC            4.000   7/19/2022   USD     9.970
Leonteq Securities AG       22.340   4/14/2022   CHF    54.280
EFG International Financ    18.000   4/14/2022   CHF    57.770
BNP Paribas Emissions- u     6.500   9/23/2021   EUR    59.470
BNP Paribas Emissions- u     7.500   9/23/2021   EUR    59.540
BNP Paribas Emissions- u     8.500   9/23/2021   EUR    59.620
BNP Paribas Emissions- u     7.000   9/23/2021   EUR    58.040
BNP Paribas Emissions- u     8.000   9/23/2021   EUR    58.120
BNP Paribas Emissions- u     9.000   9/23/2021   EUR    58.200
BNP Paribas Emissions- u     7.500   9/23/2021   EUR    56.690
BNP Paribas Emissions- u     8.500   9/23/2021   EUR    56.770
BNP Paribas Emissions- u     9.500   9/23/2021   EUR    56.850
BNP Paribas Emissions- u     9.000   9/23/2021   EUR    54.850
BNP Paribas Emissions- u    11.000  12/23/2021   EUR    55.740
BNP Paribas Emissions- u    12.000  12/23/2021   EUR    54.940
BNP Paribas Emissions- u    11.000  12/23/2021   EUR    53.530
BNP Paribas Emissions- u    13.000  12/23/2021   EUR    54.190
BNP Paribas Emissions- u    14.000  12/23/2021   EUR    52.980
BNP Paribas Emissions- u    15.000  12/23/2021   EUR    51.860
BNP Paribas Emissions- u    16.000  12/23/2021   EUR    51.270
BNP Paribas Emissions- u    15.000  12/23/2021   EUR    50.060
BNP Paribas Emissions- u    17.000  12/23/2021   EUR    50.720
BNP Paribas Emissions- u    10.000   9/23/2021   EUR    54.920
BNP Paribas Emissions- u    11.000   9/23/2021   EUR    53.170
BNP Paribas Emissions- u    13.000   9/23/2021   EUR    53.330
BNP Paribas Emissions- u    12.000   9/23/2021   EUR    52.100
BNP Paribas Emissions- u    14.000   9/23/2021   EUR    52.250
BNP Paribas Emissions- u    13.000   9/23/2021   EUR    51.070
BNP Paribas Emissions- u    15.000   9/23/2021   EUR    51.230
BNP Paribas Emissions- u    14.000   9/23/2021   EUR    49.580
BNP Paribas Emissions- u    16.000   9/23/2021   EUR    49.740
BNP Paribas Emissions- u    17.000   9/23/2021   EUR    48.340
BNP Paribas Emissions- u    18.000   9/23/2021   EUR    47.490
BNP Paribas Emissions- u    19.000   9/23/2021   EUR    46.670
BNP Paribas Emissions- u     6.500  12/23/2021   EUR    60.680
BNP Paribas Emissions- u     7.500  12/23/2021   EUR    61.010
BNP Paribas Emissions- u     8.500  12/23/2021   EUR    61.340
BNP Paribas Emissions- u     7.000  12/23/2021   EUR    59.440
BNP Paribas Emissions- u     8.000  12/23/2021   EUR    59.770
BNP Paribas Emissions- u     9.000  12/23/2021   EUR    60.100
BNP Paribas Emissions- u     7.500  12/23/2021   EUR    58.270
BNP Paribas Emissions- u     8.500  12/23/2021   EUR    58.600
BNP Paribas Emissions- u     9.500  12/23/2021   EUR    58.930
BNP Paribas Emissions- u     9.000  12/23/2021   EUR    56.860
BNP Paribas Emissions- u    10.000  12/23/2021   EUR    57.190
BNP Paribas Emissions- u     9.500  12/23/2021   EUR    55.240
DZ Bank AG Deutsche Zent    17.800  12/24/2021   EUR    66.160
UBS AG/London               14.000   07/07/2022  USD    67.650
BNP Paribas Issuance BV      5.450   1/14/2022   EUR    72.070
DZ Bank AG Deutsche Zent    10.250   3/23/2022   EUR    63.320
Landesbank Baden-Wuertte     4.050   3/24/2023   EUR    67.000
DZ Bank AG Deutsche Zent    24.200  12/24/2021   EUR    62.320
Leonteq Securities AG/Gu    15.000   4/13/2022   CHF    49.850
BNP Paribas Emissions- u    19.000  12/23/2021   EUR    64.780
BNP Paribas Emissions- u    15.000   9/23/2021   EUR    68.680
BNP Paribas Emissions- u    25.000   9/23/2021   EUR    60.900
Leonteq Securities AG       18.000   04/12/2022  CHF    52.510
Bank Vontobel AG            14.004   09/02/2022  CHF    62.500
Landesbank Baden-Wuertte     3.000   9/23/2022   EUR    54.250
Bank Julius Baer & Co Lt    12.500   12/10/2021  USD    63.800
Vontobel Financial Produ    17.750  12/24/2021   EUR    71.226
Vontobel Financial Produ    18.000   9/24/2021   EUR    73.560
Vontobel Financial Produ    10.500   9/24/2021   EUR    66.590
Leonteq Securities AG/Gu     4.000   4/19/2022   EUR    50.590
Citigroup Global Markets     8.200   3/21/2024   SEK    59.800
Leonteq Securities AG        7.200   9/22/2021   CHF    45.800
SG Issuer SA                11.170   7/20/2025   SEK    61.300
Vontobel Financial Produ    21.000  12/24/2021   EUR    69.410
UniCredit Bank AG            4.300   7/26/2022   EUR    59.510
UniCredit Bank AG            4.200   7/26/2022   EUR    31.920
Bank Julius Baer & Co Lt    15.000   11/12/2021  USD    57.750
DZ Bank AG Deutsche Zent    19.300  12/24/2021   EUR    74.020
UBS AG/London               13.500   05/12/2022  USD    62.050
UniCredit Bank AG            4.250   6/28/2022   EUR    41.520
Societe Generale Effekte    22.750   9/24/2021   EUR    70.810
SecurAsset SA                5.250   6/30/2022   EUR    40.800
SG Issuer SA                 4.000   6/22/2026   EUR    71.970
Landesbank Baden-Wuertte     2.650   9/23/2022   EUR    68.500
Vontobel Financial Produ    16.000  12/24/2021   EUR    50.578
Vontobel Financial Produ    17.000   3/25/2022   EUR    72.340
Vontobel Financial Produ    22.500   3/25/2022   EUR    71.100
Vontobel Financial Produ    23.500   3/25/2022   EUR    69.800
UniCredit Bank AG            4.150   7/26/2022   EUR    44.920
Vontobel Financial Produ     9.200   3/23/2022   EUR    72.310
UniCredit Bank AG            4.300   6/28/2022   EUR    70.890
UniCredit Bank AG            3.800   6/28/2022   EUR    57.820
Vontobel Financial Produ    13.250  12/24/2021   EUR    64.486
UBS AG/London               12.250   3/24/2022   CHF    55.850
UBS AG/London               21.250   3/24/2022   USD    68.550
Landesbank Baden-Wuertte     4.850   6/24/2022   EUR    51.790
Vontobel Financial Produ    13.250  12/24/2021   EUR    64.496
Bank Julius Baer & Co Lt    16.000   05/11/2022  EUR    70.900
DZ Bank AG Deutsche Zent    13.100  12/24/2021   EUR    57.500
DZ Bank AG Deutsche Zent    15.000  12/24/2021   EUR    55.210
Vontobel Financial Produ    15.000  12/24/2021   EUR    59.480
Vontobel Financial Produ    20.000  12/24/2021   EUR    57.210
Vontobel Financial Produ    16.000   3/25/2022   EUR    59.490
UniCredit Bank AG            4.200   12/08/2021  EUR    29.880
Landesbank Baden-Wuertte     3.400  11/25/2022   EUR    52.790
Landesbank Baden-Wuertte     3.400   1/27/2023   EUR    57.050
UniCredit Bank AG            5.150   01/02/2023  EUR    53.330
Landesbank Baden-Wuertte     4.000  12/27/2021   EUR    47.810
Landesbank Baden-Wuertte     3.400   2/24/2023   EUR    59.510
Raiffeisen Schweiz Genos     5.000   04/05/2022  CHF    70.830
Corner Banca SA              8.600   10/12/2021  CHF    67.380
UniCredit Bank AG            4.000  11/21/2022   EUR    60.280
Raiffeisen Schweiz Genos     5.700   10/12/2021  CHF    70.120
Landesbank Baden-Wuertte     3.500   1/28/2022   EUR    48.680
UniCredit Bank AG            4.500   1/18/2022   EUR    50.250
UniCredit Bank AG            3.500   2/13/2023   EUR    38.550
Landesbank Baden-Wuertte     2.300   2/25/2022   EUR    58.090
Danske Bank A/S              5.300   7/15/2023   SEK    43.640
Societe Generale SA          4.500  12/29/2022   USD     0.460
Societe Generale SA          4.500  12/29/2022   USD     9.100
Landesbank Baden-Wuertte     2.300   7/22/2022   EUR    58.040
Bayerische Landesbank        2.300  11/26/2021   EUR    55.990
Citigroup Global Markets     7.200   5/24/2023   SEK    49.900
UniCredit Bank AG            3.350   6/14/2022   EUR    49.780
UniCredit Bank AG            4.000   06/07/2022  EUR    70.960
Leonteq Securities AG        5.600   5/16/2022   CHF    57.200
UniCredit Bank AG            7.100  12/24/2021   EUR    73.340
UniCredit Bank AG            9.500  12/24/2021   EUR    71.250
UniCredit Bank AG           11.400  12/24/2021   EUR    64.710
UniCredit Bank AG            6.600  12/24/2021   EUR    64.070
UniCredit Bank AG            7.900  12/24/2021   EUR    70.660
UniCredit Bank AG           10.200  12/24/2021   EUR    42.670
UniCredit Bank AG            8.100  12/24/2021   EUR    56.030
UniCredit Bank AG            7.300  12/24/2021   EUR    59.010
UniCredit Bank AG           10.300  12/24/2021   EUR    68.800
UniCredit Bank AG            6.800  12/24/2021   EUR    51.960
UniCredit Bank AG            6.000  12/24/2021   EUR    55.230
UniCredit Bank AG            6.900  12/24/2021   EUR    62.560
UniCredit Bank AG            8.900  12/24/2021   EUR    67.990
UniCredit Bank AG            7.700  12/24/2021   EUR    72.670
UniCredit Bank AG            5.800  12/24/2021   EUR    66.690
UniCredit Bank AG            8.000  12/24/2021   EUR    58.890
UniCredit Bank AG            8.300  12/24/2021   EUR    70.200
UniCredit Bank AG            6.600  12/24/2021   EUR    71.920
UniCredit Bank AG            5.350   2/27/2023   EUR    49.040
UniCredit Bank AG            5.000   2/22/2022   EUR    71.610
Landesbank Baden-Wuertte     4.800   2/25/2022   EUR    40.390
UniCredit Bank AG            8.600  12/24/2021   EUR    68.190
UniCredit Bank AG            8.000  12/24/2021   EUR    69.190
UniCredit Bank AG            8.100  12/24/2021   EUR    59.350
UniCredit Bank AG            5.800  12/24/2021   EUR    65.630
UniCredit Bank AG            9.400  12/24/2021   EUR    72.250
UniCredit Bank AG            6.400  12/24/2021   EUR    62.310
UniCredit Bank AG           10.500  12/24/2021   EUR    67.820
UniCredit Bank AG            8.500  12/24/2021   EUR    46.700
UniCredit Bank AG            5.600  12/24/2021   EUR    66.130
UniCredit Bank AG           12.300  12/24/2021   EUR    61.900
UniCredit Bank AG            6.900  12/24/2021   EUR    62.270
UniCredit Bank AG            7.700  12/24/2021   EUR    49.170
UniCredit Bank AG            9.100  12/24/2021   EUR    55.810
UniCredit Bank AG            4.800  12/24/2021   EUR    71.630
UniCredit Bank AG            7.500  12/24/2021   EUR    68.340
UniCredit Bank AG            7.900  12/24/2021   EUR    70.930
UniCredit Bank AG           10.200  12/24/2021   EUR    53.080
UniCredit Bank AG            9.600  12/24/2021   EUR    65.890
Landesbank Baden-Wuertte     3.000  12/23/2022   EUR    58.020
Landesbank Baden-Wuertte     3.200  12/23/2022   EUR    67.750
Corner Banca SA              6.200   10/05/2021  CHF    67.270
Landesbank Baden-Wuertte     3.400   2/25/2022   EUR    49.620
Societe Generale SA          1.580   9/16/2024   USD     3.350
Landesbank Baden-Wuertte     4.750   2/25/2022   EUR    40.750
Landesbank Baden-Wuertte     2.850   9/23/2022   EUR    67.940
Erste Group Bank AG          4.350   2/28/2022   EUR    35.400
Leonteq Securities AG/Gu     3.750   2/20/2023   CHF    44.960
Leonteq Securities AG        7.200   9/24/2021   CHF    66.150
UniCredit Bank AG            4.150   10/12/2022  EUR    61.650
DekaBank Deutsche Giroze     2.500  10/22/2021   EUR    62.570
Leonteq Securities AG        7.400   9/28/2021   CHF    66.600
UniCredit Bank AG            4.200  11/21/2021   EUR    53.810
Landesbank Baden-Wuertte     2.500   1/28/2022   EUR    55.820
UniCredit Bank AG            5.350   8/24/2021   EUR    38.520
Landesbank Baden-Wuertte     2.650  12/23/2022   EUR    71.720
EFG International Financ     7.000  10/25/2021   EUR    64.390
UniCredit Bank AG            4.350  10/26/2021   EUR    66.010
Leonteq Securities AG/Gu     4.750   11/01/2021  CHF     8.530
UniCredit Bank AG            4.350  11/21/2021   EUR    53.870
Leonteq Securities AG/Gu     6.400   11/03/2021  CHF    43.980
Landesbank Baden-Wuertte     3.250  12/23/2022   EUR    57.370
EFG International Financ     6.500  10/25/2021   CHF    72.680
Landesbank Baden-Wuertte     3.800   1/28/2022   EUR    44.920
Leonteq Securities AG/Gu     7.200  10/27/2021   CHF    59.880
EFG International Financ     7.000   2/21/2022   CHF    65.190
SG Issuer SA                 7.600   1/20/2025   SEK    66.520
DekaBank Deutsche Giroze     3.000   8/27/2021   EUR    70.020
Corner Banca SA             14.200   8/24/2021   USD     3.710
UniCredit Bank AG            7.000   3/29/2022   EUR    65.150
UBS AG/London                9.500   9/13/2021   CHF    70.200
UBS AG/London                8.500   9/13/2021   CHF    70.050
UniCredit Bank AG            4.000   3/13/2022   EUR    71.560
UniCredit Bank AG            9.600  12/27/2021   EUR    71.980
UniCredit Bank AG            4.700  12/19/2021   EUR    29.140
Landesbank Baden-Wuertte     4.100   1/28/2022   EUR    46.100
Landesbank Baden-Wuertte     3.250   2/24/2023   EUR    60.160
Landesbank Baden-Wuertte     3.250   7/28/2023   EUR    66.800
Zurcher Kantonalbank Fin     8.000   5/16/2022   CHF    54.460
DekaBank Deutsche Giroze     5.500   12/03/2021  EUR    74.870
Vontobel Financial Produ     8.750   9/24/2021   EUR    55.383
UniCredit Bank AG            3.200   01/02/2023  EUR    69.700
UBS AG/London                8.500  11/22/2021   EUR    66.050
SG Issuer SA                 0.350  11/15/2023   EUR    21.100
Bayerische Landesbank        1.350  12/23/2022   EUR    53.140
Leonteq Securities AG/Gu     7.420  11/22/2021   EUR    49.830
DekaBank Deutsche Giroze     3.700  12/17/2021   EUR    57.450
UBS AG/London                7.250   1/24/2022   CHF    72.300
UBS AG/London                8.000   1/24/2022   CHF    65.050
UBS AG/London               11.250   1/24/2022   CHF    69.000
UBS AG/London                7.000   8/23/2021   EUR    58.700
UBS AG/London                5.500   8/23/2021   CHF    61.500
UBS AG/London                9.000   8/23/2021   EUR    73.500
Landesbank Baden-Wuertte     2.650   3/25/2022   EUR    61.340
Landesbank Baden-Wuertte     5.300   3/25/2022   EUR    53.540
Vontobel Financial Produ    10.500   9/24/2021   EUR    46.530
Vontobel Financial Produ     8.000   9/24/2021   EUR    51.410
Vontobel Financial Produ    18.500   9/24/2021   EUR    57.470
Leonteq Securities AG        3.600   9/22/2026   CHF    54.920
Raiffeisen Schweiz Genos     3.000   9/21/2029   CHF    67.780
DekaBank Deutsche Giroze     3.400   02/04/2022  EUR    67.660
BNP Paribas Issuance BV      7.200  12/17/2024   SEK    71.770
Leonteq Securities AG        9.400   1/13/2022   CHF    70.730
UBS AG/London                7.000   8/30/2021   CHF    58.350
Leonteq Securities AG       11.000   8/30/2021   EUR    73.500
Leonteq Securities AG/Gu     8.150   09/02/2021  CHF    33.810
Landesbank Baden-Wuertte     5.050  10/22/2021   EUR    68.970
Pongs & Zahn AG              8.500               EUR     0.002
Credit Suisse AG/London      6.250  11/28/2025   USD    11.570
UBS AG/London                7.250   09/06/2021  CHF    56.900
EFG International Financ    16.000   10/11/2021  CHF    66.130
UniCredit Bank AG            6.250   11/04/2021  EUR    56.710
DekaBank Deutsche Giroze     4.000   11/05/2021  EUR    54.990
Landesbank Baden-Wuertte     3.600   6/23/2023   EUR    53.110
Leonteq Securities AG        6.600   10/12/2021  CHF    46.730
Landesbank Baden-Wuertte     3.250   8/27/2021   EUR    48.310
Bayerische Landesbank        2.500   7/22/2022   EUR    60.100
Vontobel Financial Produ    16.500   9/24/2021   EUR    36.480
Vontobel Financial Produ    23.000   9/24/2021   EUR    70.830
Vontobel Financial Produ     7.500   9/24/2021   EUR    63.730
Vontobel Financial Produ     9.000   9/24/2021   EUR    61.450
Vontobel Financial Produ     6.500   9/24/2021   EUR    66.260
Vontobel Financial Produ    11.500   9/24/2021   EUR    57.350
Vontobel Financial Produ    10.000   9/24/2021   EUR    59.310
DekaBank Deutsche Giroze     4.150   07/01/2022  EUR    58.620
Societe Generale Effekte     4.500   07/03/2023  EUR    69.510
Zurcher Kantonalbank Fin     6.000   1/28/2022   CHF    72.930
UniCredit Bank AG            8.200  11/26/2021   EUR    70.390
Vontobel Financial Produ     9.200   1/24/2022   EUR    61.550
EFG International Financ    10.400  10/15/2021   EUR    62.150
UBS AG/London                7.000   10/11/2021  CHF    58.350
UBS AG/London               10.000  12/27/2021   CHF    69.050
Leonteq Securities AG/Gu    15.180  12/27/2021   EUR     7.730
City of Predeal Romania      2.985   5/15/2026   RON    61.000
EFG International Financ    13.000  12/27/2021   CHF     6.060
EFG International Financ    11.120  12/27/2024   EUR    55.310
Leonteq Securities AG       11.000  12/20/2021   CHF    71.930
Leonteq Securities AG       11.800  12/20/2021   CHF    72.000
EFG International Financ    12.000  12/31/2021   USD    71.310
Leonteq Securities AG        8.000  12/13/2022   CHF    58.440
Landesbank Baden-Wuertte     5.750  11/26/2021   EUR    70.230
DekaBank Deutsche Giroze     3.600   07/01/2022  EUR    71.990
Leonteq Securities AG/Gu     6.000  11/23/2021   CHF    60.800
Raiffeisen Schweiz Genos     5.500   5/24/2022   CHF    71.210
Rosbank PJSC                 0.030   4/30/2024   RUB    65.000
DekaBank Deutsche Giroze     2.400   6/17/2022   EUR    61.330
UBS AG/London                7.750  10/25/2021   EUR    59.250
UBS AG/London               14.250  10/25/2021   CHF    58.800
UBS AG/London                9.250  10/25/2021   CHF    72.050
UBS AG/London               10.000  10/25/2021   CHF    55.400
Landesbank Baden-Wuertte     4.000  11/26/2021   EUR    71.350
Landesbank Baden-Wuertte     2.350   9/23/2022   EUR    57.820
EFG International Financ     5.350  10/24/2022   USD    69.150
DekaBank Deutsche Giroze     3.250  11/25/2022   EUR    60.900
Vontobel Financial Produ    19.500  12/24/2021   EUR    71.904
Vontobel Financial Produ    15.500  12/24/2021   EUR    64.745
DZ Bank AG Deutsche Zent    19.000  12/24/2021   EUR    74.520
Landesbank Baden-Wuertte     2.100   8/27/2021   EUR    46.780
Landesbank Baden-Wuertte     2.150   8/27/2021   EUR    62.260
Landesbank Baden-Wuertte     3.500   8/27/2021   EUR    47.930
Landesbank Baden-Wuertte     3.000   8/27/2021   EUR    66.820
Landesbank Baden-Wuertte     6.250   8/27/2021   EUR    55.080
Landesbank Baden-Wuertte     9.000   8/27/2021   EUR    49.340
DZ Bank AG Deutsche Zent    18.200   9/24/2021   EUR    65.700
DZ Bank AG Deutsche Zent    23.000   9/24/2021   EUR    61.930
DZ Bank AG Deutsche Zent    19.100  12/24/2021   EUR    65.930
DZ Bank AG Deutsche Zent    22.400  12/24/2021   EUR    63.530
DZ Bank AG Deutsche Zent    19.000   3/25/2022   EUR    66.470
Landesbank Baden-Wuertte     3.950   8/27/2021   EUR    52.360
Landesbank Baden-Wuertte     3.500   8/27/2021   EUR    53.190
Landesbank Baden-Wuertte     4.000   8/27/2021   EUR    74.610
Landesbank Baden-Wuertte     5.250   8/27/2021   EUR    68.890
Landesbank Baden-Wuertte     6.500   8/27/2021   EUR    64.000
Landesbank Baden-Wuertte     8.000   8/27/2021   EUR    59.770
Landesbank Baden-Wuertte     2.500   8/27/2021   EUR    73.500
Landesbank Baden-Wuertte     3.750   8/27/2021   EUR    68.570
Landesbank Baden-Wuertte     3.500   8/27/2021   EUR    73.920
UniCredit Bank AG            9.300  10/22/2021   EUR    72.840
Goldman Sachs & Co Wertp    10.000   9/22/2021   EUR    73.080
Goldman Sachs & Co Wertp    10.000  12/22/2021   EUR    71.050
Goldman Sachs & Co Wertp    14.000   9/22/2021   EUR    63.560
Goldman Sachs & Co Wertp    14.000  12/22/2021   EUR    63.970
Goldman Sachs & Co Wertp    16.000  12/22/2021   EUR    61.350
Goldman Sachs & Co Wertp    18.000   9/22/2021   EUR    57.470
Vontobel Financial Produ    10.500  12/24/2021   EUR    55.190
Vontobel Financial Produ     7.000   3/25/2022   EUR    60.060
Vontobel Financial Produ     7.500  12/24/2021   EUR    59.190
Vontobel Financial Produ    12.000  12/24/2021   EUR    53.490
Vontobel Financial Produ     8.000  12/24/2021   EUR    58.030
Vontobel Financial Produ     8.000   3/25/2022   EUR    50.420
Vontobel Financial Produ     7.000   3/25/2022   EUR    49.232
UniCredit Bank AG            6.300  10/16/2021   EUR    33.700
DekaBank Deutsche Giroze     3.900   4/25/2022   EUR    35.620
Vontobel Financial Produ     9.750   9/24/2021   EUR    73.828
Leonteq Securities AG       13.000   05/09/2022  CHF    62.590
UniCredit Bank AG           16.840   03/01/2022  NOK    71.100
Vontobel Financial Produ     9.000  12/24/2021   EUR    62.550
Vontobel Financial Produ    10.000  12/24/2021   EUR    61.430
Vontobel Financial Produ     9.000   3/25/2022   EUR    61.130
Vontobel Financial Produ    15.000   3/25/2022   EUR    56.480
Vontobel Financial Produ     7.500   3/25/2022   EUR    63.710
Leonteq Securities AG/Gu    17.600   03/08/2022  USD    62.990
DZ Bank AG Deutsche Zent     9.000  11/24/2021   EUR    58.760
Corner Banca SA             14.000   05/09/2022  CHF    63.250
UBS AG/London               15.250   2/24/2022   USD    53.200
UBS AG/London                6.500   8/24/2022   CHF    71.650
Vontobel Financial Produ    14.500   9/24/2021   EUR    72.901
DZ Bank AG Deutsche Zent    20.200   9/24/2021   EUR    51.990
SG Issuer SA                 7.500   1/20/2025   SEK    64.960
Vontobel Financial Produ     6.700   03/07/2022  EUR    54.200
UniCredit Bank AG            3.250   3/29/2022   EUR    31.680
UniCredit Bank AG            3.600   3/29/2022   EUR    72.560
UniCredit Bank AG            3.750   3/26/2022   EUR    54.830
DekaBank Deutsche Giroze     4.250   4/14/2022   EUR    35.140
Vontobel Financial Produ    12.500   9/24/2021   EUR    56.740
Vontobel Financial Produ    14.000   9/24/2021   EUR    54.270
Vontobel Financial Produ    16.000   9/24/2021   EUR    52.080
Vontobel Financial Produ    18.500   9/24/2021   EUR    50.120
Vontobel Financial Produ    20.500   9/24/2021   EUR    48.310
Vontobel Financial Produ     9.000  12/24/2021   EUR    46.171
UniCredit Bank AG            3.200   09/10/2022  EUR    48.240
Landesbank Baden-Wuertte     2.600   9/24/2021   EUR    56.120
SG Issuer SA                 1.400  12/28/2032   EUR    28.820
SG Issuer SA                 2.100   01/06/2033  EUR    29.680
SG Issuer SA                 1.500  12/30/2032   EUR    48.580
UniCredit Bank AG           10.900   2/16/2022   EUR    68.500
Landesbank Baden-Wuertte     3.000   1/28/2022   EUR    61.610
Landesbank Baden-Wuertte     5.550   1/28/2022   EUR    55.970
Vontobel Financial Produ     9.500   9/24/2021   EUR    60.880
Vontobel Financial Produ    18.500  12/24/2021   EUR    49.620
Vontobel Financial Produ     8.000  12/24/2021   EUR    45.842
DZ Bank AG Deutsche Zent    20.200   3/25/2022   EUR    65.810
Landesbank Baden-Wuertte     5.600  11/26/2021   EUR    62.260
DZ Bank AG Deutsche Zent    12.600   3/25/2022   EUR    74.160
DZ Bank AG Deutsche Zent    16.300   3/25/2022   EUR    69.340
SG Issuer SA                 2.100   2/14/2033   EUR    30.770
Societe Generale Effekte    30.000   9/24/2021   EUR    72.460
Societe Generale Effekte    24.750   9/24/2021   EUR    70.340
Bank Julius Baer & Co Lt     7.300   2/22/2022   EUR    73.250
Vontobel Financial Produ     7.500   3/25/2022   EUR    47.417
Landesbank Baden-Wuertte     2.200   1/27/2023   EUR    55.360
Vontobel Financial Produ    19.500  12/24/2021   EUR    55.950
Vontobel Financial Produ    11.000   9/24/2021   EUR    66.620
Vontobel Financial Produ    20.500   9/24/2021   EUR    54.360
Vontobel Financial Produ    22.500   9/24/2021   EUR    52.830
Vontobel Financial Produ    17.500  12/24/2021   EUR    66.570
Vontobel Financial Produ    15.000   9/24/2021   EUR    70.390
Vontobel Financial Produ    16.000   9/24/2021   EUR    69.240
Vontobel Financial Produ    18.000   9/24/2021   EUR    67.070
Vontobel Financial Produ    20.000   9/24/2021   EUR    65.050
Vontobel Financial Produ    22.000   9/24/2021   EUR    63.170
Vontobel Financial Produ    13.000  12/24/2021   EUR    71.430
Vontobel Financial Produ    16.000  12/24/2021   EUR    68.060
Nordea Bank Abp              4.100   7/20/2023   SEK    51.630
Vontobel Financial Produ    21.000   9/24/2021   EUR    72.090
DZ Bank AG Deutsche Zent    10.250   8/25/2021   EUR    44.730
BNP Paribas Emissions- u     0.170   9/23/2021   EUR     0.380
Vontobel Financial Produ     9.500   9/24/2021   EUR    59.270
Vontobel Financial Produ    11.000   9/24/2021   EUR    64.030
Vontobel Financial Produ     9.500   9/24/2021   EUR    66.500
Landesbank Baden-Wuertte     3.100  11/26/2021   EUR    70.420
Vontobel Financial Produ    13.750   9/24/2021   EUR    60.710
Vontobel Financial Produ    11.000  12/24/2021   EUR    46.839
Vontobel Financial Produ    20.500   3/25/2022   EUR    64.760
Landesbank Baden-Wuertte     3.400   8/23/2024   EUR    57.310
Vontobel Financial Produ    17.000   9/24/2021   EUR    68.130
Vontobel Financial Produ    12.000  12/24/2021   EUR    64.590
Vontobel Financial Produ    19.000   9/24/2021   EUR    56.030
Vontobel Financial Produ    17.000   9/24/2021   EUR    57.810
Vontobel Financial Produ    12.500   9/24/2021   EUR    64.150
Vontobel Financial Produ    18.500  12/24/2021   EUR    65.960
Vontobel Financial Produ    13.000   9/24/2021   EUR    72.820
Vontobel Financial Produ    14.000   9/24/2021   EUR    71.580
Vontobel Financial Produ    19.000   9/24/2021   EUR    66.040
Vontobel Financial Produ    21.000   9/24/2021   EUR    64.100
Vontobel Financial Produ    23.000   9/24/2021   EUR    62.280
Vontobel Financial Produ    12.500  12/24/2021   EUR    72.450
Vontobel Financial Produ    11.500  12/24/2021   EUR    73.330
Vontobel Financial Produ    14.000  12/24/2021   EUR    70.620
Vontobel Financial Produ    14.500  12/24/2021   EUR    69.680
Vontobel Financial Produ    15.500  12/24/2021   EUR    68.940
Vontobel Financial Produ    17.000  12/24/2021   EUR    67.390
Vontobel Financial Produ    12.250   9/24/2021   EUR    60.548
Vontobel Financial Produ    11.000  12/24/2021   EUR    57.140
Vontobel Financial Produ    14.500  12/24/2021   EUR    52.790
Vontobel Financial Produ     7.500  12/24/2021   EUR    62.800
Vontobel Financial Produ     8.000   9/24/2021   EUR    43.679
Societe Generale Effekte     7.750  10/22/2021   EUR    65.970
Societe Generale Effekte    11.750  10/22/2021   EUR    58.070
Leonteq Securities AG/Gu    25.000   8/26/2021   USD     6.560
Bank Julius Baer & Co Lt    10.200   5/30/2023   EUR    18.100
Societe Generale SA          4.890   2/16/2023   USD #N/A N/A
SG Issuer SA                 9.180   1/20/2025   SEK    69.740
Vontobel Financial Produ    20.000  12/24/2021   EUR    47.420
Vontobel Financial Produ    19.000  12/24/2021   EUR    47.820
Vontobel Financial Produ    18.000  12/24/2021   EUR    48.250
Vontobel Financial Produ    15.500   3/25/2022   EUR    65.430
Vontobel Financial Produ    20.000  12/24/2021   EUR    61.150
Vontobel Financial Produ    12.000  12/24/2021   EUR    52.450
Vontobel Financial Produ    14.500   3/25/2022   EUR    66.830
Vontobel Financial Produ    12.000   3/25/2022   EUR    52.420
Vontobel Financial Produ    16.000   3/25/2022   EUR    50.780
Leonteq Securities AG       12.000   02/09/2022  CHF    57.090
Vontobel Financial Produ    12.500  12/24/2021   EUR    51.630
Vontobel Financial Produ    15.500  12/24/2021   EUR    49.870
Vontobel Financial Produ    13.500  12/24/2021   EUR    51.010
Vontobel Financial Produ    14.500  12/24/2021   EUR    50.420
Vontobel Financial Produ    16.500  12/24/2021   EUR    49.360
Vontobel Financial Produ    17.500  12/24/2021   EUR    48.870
Vontobel Financial Produ    14.000   3/25/2022   EUR    51.510
Vontobel Financial Produ    18.000   3/25/2022   EUR    63.290
Vontobel Financial Produ    13.500   3/25/2022   EUR    68.360
Vontobel Financial Produ    17.000   3/25/2022   EUR    64.450
Vontobel Financial Produ    17.500   3/25/2022   EUR    49.910
UBS AG/London                8.750   6/23/2022   CHF    68.400
UniCredit Bank AG            3.500   10/08/2022  EUR    41.420
EFG International Financ     7.600   10/11/2021  CHF    64.250
Bayerische Landesbank        3.100   8/27/2021   EUR    71.820
Vontobel Financial Produ    11.500   9/24/2021   EUR    58.050
Vontobel Financial Produ    10.500   9/24/2021   EUR    59.430
Vontobel Financial Produ    13.000   9/24/2021   EUR    55.450
Vontobel Financial Produ    15.000   9/24/2021   EUR    53.150
Vontobel Financial Produ    17.500   9/24/2021   EUR    51.100
Vontobel Financial Produ    19.500   9/24/2021   EUR    49.190
Vontobel Financial Produ    21.500   9/24/2021   EUR    47.460
DZ Bank AG Deutsche Zent    14.600   9/24/2021   EUR    42.240
Leonteq Securities AG/Gu     3.000   9/20/2022   CHF    73.300
EFG International Financ     7.000  12/29/2022   USD    48.470
UniCredit Bank AG            4.300   8/24/2021   EUR    44.900
UniCredit Bank AG            3.500   9/19/2021   EUR    32.900
UniCredit Bank AG            3.850   9/19/2021   EUR    55.250
Leonteq Securities AG/Gu     8.000   09/01/2021  CHF    66.700
DZ Bank AG Deutsche Zent    16.000  12/24/2021   EUR    69.280
DZ Bank AG Deutsche Zent    14.400   3/25/2022   EUR    71.210
DZ Bank AG Deutsche Zent    16.700   3/25/2022   EUR    68.840
Societe Generale Effekte     8.500   9/24/2021   EUR    59.960
Societe Generale Effekte    10.500   9/24/2021   EUR    56.010
Societe Generale Effekte    14.500   9/24/2021   EUR    50.260
UBS AG/London                9.250  10/21/2022   CHF    73.900
UBS AG/London               17.250  10/21/2021   CHF    63.650
UBS AG/London               12.000  10/21/2021   CHF    66.700
Zurcher Kantonalbank Fin     6.300  12/16/2022   CHF    55.670
Raiffeisen Schweiz Genos     8.500  12/13/2021   CHF    51.640
UBS AG/London               12.000  12/20/2021   CHF    50.300
UBS AG/London               14.000  12/20/2021   CHF    62.600
UBS AG/London               10.250  12/20/2021   CHF    70.450
UBS AG/London                7.000  12/20/2021   CHF    61.600
Leonteq Securities AG/Gu     7.500  12/20/2021   EUR    67.090
Zurcher Kantonalbank Fin     6.250  12/30/2021   EUR    70.650
Bayerische Landesbank        3.500   1/26/2024   EUR    66.780
DekaBank Deutsche Giroze     2.800   1/13/2023   EUR    68.180
DekaBank Deutsche Giroze     4.000   1/14/2022   EUR    56.040
Vontobel Financial Produ    16.500   3/25/2022   EUR    70.560
Vontobel Financial Produ    19.500   3/25/2022   EUR    70.279
Vontobel Financial Produ    11.750   3/25/2022   EUR    73.967
Bank Julius Baer & Co Lt    11.800   4/26/2022   EUR    52.250
Bank Julius Baer & Co Lt    12.650   4/26/2022   USD    52.450
Bank Julius Baer & Co Lt    12.850   4/26/2022   USD    69.850
Leonteq Securities AG/Gu    22.620  12/23/2021   CHF    43.500
Corner Banca SA             17.200   4/26/2022   CHF    64.710
Societe Generale Effekte     5.750  10/22/2021   EUR    72.040
Societe Generale Effekte     9.750  10/22/2021   EUR    61.520
Societe Generale Effekte    13.750  10/22/2021   EUR    55.250
Vontobel Financial Produ    20.000  12/24/2021   EUR    66.590
Bayerische Landesbank        2.000   1/28/2022   EUR    60.420
Vontobel Financial Produ    16.500  12/24/2021   EUR    72.310
Raiffeisen Schweiz Genos     5.000  12/29/2021   CHF    61.910
UniCredit Bank AG            4.450   7/23/2022   EUR    69.360
BNP Paribas Emissions- u    23.000  12/23/2021   EUR     7.860
UBS AG/London               10.500   06/09/2022  CHF    74.350
UBS AG/London               12.250   06/09/2022  CHF    67.750
Landesbank Baden-Wuertte     3.150   6/24/2022   EUR    58.580
BNP Paribas Emissions- u    13.000   9/23/2021   EUR    73.040
BNP Paribas Emissions- u    13.000   6/23/2022   EUR    72.180
BNP Paribas Emissions- u    15.000   6/23/2022   EUR    69.730
BNP Paribas Emissions- u    10.000  12/23/2021   EUR    72.620
BNP Paribas Emissions- u    13.000  12/23/2021   EUR    70.840
BNP Paribas Emissions- u    14.000  12/23/2021   EUR    69.410
BNP Paribas Emissions- u    18.000  12/23/2021   EUR    66.670
BNP Paribas Emissions- u    12.000   9/23/2021   EUR    71.500
BNP Paribas Emissions- u    20.000   9/23/2021   EUR    67.170
BNP Paribas Emissions- u    21.000   9/23/2021   EUR    65.440
BNP Paribas Emissions- u    24.000   9/23/2021   EUR    63.150
BNP Paribas Emissions- u    13.000   3/24/2022   EUR    72.710
BNP Paribas Emissions- u    14.000   3/24/2022   EUR    71.680
BNP Paribas Emissions- u    15.000   3/24/2022   EUR    70.710
BNP Paribas Emissions- u    17.000   3/24/2022   EUR    67.550
BNP Paribas Emissions- u    15.000  12/23/2021   EUR    68.070
BNP Paribas Emissions- u    22.000  12/23/2021   EUR    64.360
BNP Paribas Emissions- u    16.000   9/23/2021   EUR    66.860
Landesbank Baden-Wuertte     2.300   6/24/2022   EUR    49.110
DekaBank Deutsche Giroze     2.800   05/02/2022  EUR    47.050
UBS AG/London               13.250   05/12/2022  USD    63.000
Corner Banca SA             13.000   1/19/2022   CHF    66.460
Leonteq Securities AG/Gu    15.000   1/19/2022   USD    62.510
Leonteq Securities AG/Gu    20.960   1/19/2022   USD    76.890
Vontobel Financial Produ    23.000   9/24/2021   EUR    72.900
Vontobel Financial Produ    12.000   9/24/2021   EUR    61.710
Vontobel Financial Produ    10.000   9/24/2021   EUR    72.083
Societe Generale Effekte    11.250  10/22/2021   EUR    51.840
Vontobel Financial Produ     6.500  12/24/2021   EUR    65.070
Vontobel Financial Produ     8.000  12/24/2021   EUR    61.080
Vontobel Financial Produ    10.000  12/24/2021   EUR    57.810
Vontobel Financial Produ    11.500  12/24/2021   EUR    54.860
Vontobel Financial Produ    14.000  12/24/2021   EUR    52.630
Vontobel Financial Produ     9.000   9/24/2021   EUR    59.220
Vontobel Financial Produ    14.000   9/24/2021   EUR    52.110
Vontobel Financial Produ    11.500   9/24/2021   EUR    55.410
Raiffeisen Centrobank AG    10.000   3/24/2023   EUR     1.000
Corner Banca SA             19.000   5/23/2022   USD    78.040
Landesbank Baden-Wuertte     7.300   3/25/2022   EUR    57.630
Bank Julius Baer & Co Lt     8.500   2/18/2022   EUR    71.500
Landesbank Baden-Wuertte     3.050   3/25/2022   EUR    65.440
Landesbank Baden-Wuertte     5.000   3/25/2022   EUR    61.060
Landesbank Baden-Wuertte     3.500   8/26/2022   EUR    58.990
EFG International Financ     6.200  12/18/2023   USD    55.330
Leonteq Securities AG/Gu    17.000  11/30/2021   USD    71.190
Landesbank Baden-Wuertte     5.450   8/26/2022   EUR    52.970
Credit Suisse AG/London      4.500   3/21/2022   USD #N/A N/A
Landesbank Baden-Wuertte     3.000  10/25/2024   EUR    61.180
Vontobel Financial Produ     8.000  12/24/2021   EUR    64.606
EFG International Financ     6.000  12/22/2023   USD    51.470
Leonteq Securities AG       15.000   1/25/2022   CHF    61.740
Vontobel Financial Produ    10.500   3/25/2022   EUR    47.248
UniCredit Bank AG            8.200   2/16/2022   EUR    72.260
Leonteq Securities AG       17.000   11/10/2021  CHF    52.360
EFG International Financ     7.000   3/23/2023   USD    45.420
UBS AG/London                7.500   4/19/2022   EUR     0.030
Vontobel Financial Produ    24.500  12/24/2021   EUR    70.050
Vontobel Financial Produ    12.500  12/24/2021   EUR    62.210
Vontobel Financial Produ    22.500  12/24/2021   EUR    55.930
Vontobel Financial Produ    11.500   3/25/2022   EUR    62.600
Vontobel Financial Produ    23.000  12/24/2021   EUR    67.597
Vontobel Financial Produ    22.000  12/24/2021   EUR    63.260
Vontobel Financial Produ    10.500  12/24/2021   EUR    64.520
Bank Julius Baer & Co Lt     8.800  10/19/2021   CHF    23.464
Vontobel Financial Produ    13.500   3/25/2022   EUR    60.760
Vontobel Financial Produ     7.500   3/25/2022   EUR    67.250
UniCredit Bank AG           17.000  11/15/2021   NOK    55.980
Bank Julius Baer & Co Lt    10.850  10/27/2021   USD    54.300
Leonteq Securities AG/Gu    10.000   4/26/2022   CHF    76.520
Bank Julius Baer & Co Lt     9.000  10/28/2021   USD    54.200
Zurcher Kantonalbank Fin    12.500   11/04/2021  USD    55.240
Corner Banca SA             11.400  10/28/2021   USD    60.920
Landesbank Baden-Wuertte     4.700   4/25/2022   EUR    59.370
Landesbank Baden-Wuertte     7.050   4/25/2022   EUR    55.090
Landesbank Baden-Wuertte     2.700   4/25/2022   EUR    65.110
UBS AG/London               18.250  10/28/2021   CHF    67.800
Bank Vontobel AG            11.500   4/25/2022   USD    65.700
EFG International Financ     6.500  10/29/2021   USD    63.770
Leonteq Securities AG/Gu    10.000   4/29/2022   USD    60.900
Corner Banca SA             15.000   05/02/2022  USD    62.910
Leonteq Securities AG/Gu    28.010   4/19/2022   CHF    43.560
Landesbank Baden-Wuertte     5.750  10/28/2022   EUR    72.000
SG Issuer SA                 1.400   03/07/2033  EUR    30.640
SG Issuer SA                 2.100   04/05/2033  EUR    30.860
Leonteq Securities AG/Gu    22.520   07/06/2022  CHF    67.050
DZ Bank AG Deutsche Zent    12.900   9/24/2021   EUR    73.830
Credit Suisse AG/London      4.530   07/12/2023  USD     9.630
DZ Bank AG Deutsche Zent    22.400  12/24/2021   EUR    67.450
Landesbank Baden-Wuertte     3.000  12/23/2022   EUR    52.780
DZ Bank AG Deutsche Zent    24.700  12/24/2021   EUR    74.290
DZ Bank AG Deutsche Zent    24.100   3/25/2022   EUR    72.980
UniCredit Bank AG            3.850   10/05/2023  EUR    68.700
DZ Bank AG Deutsche Zent    20.200   9/24/2021   EUR    73.570
DZ Bank AG Deutsche Zent    20.200  12/24/2021   EUR    73.310
DekaBank Deutsche Giroze     2.500  10/24/2023   EUR    56.630
Leonteq Securities AG/Gu     9.200   9/21/2021   EUR    69.160
Leonteq Securities AG/Gu    20.760   6/17/2022   CHF    69.070
DekaBank Deutsche Giroze     2.600  10/24/2023   EUR    56.850
Leonteq Securities AG/Gu    23.690   06/03/2022  CHF    67.050
Corner Banca SA             12.000   6/21/2022   CHF    74.550
Leonteq Securities AG/Gu    12.000   06/08/2022  CHF    69.540
Leonteq Securities AG       16.000   5/25/2022   CHF    69.630
Bank Vontobel AG            13.002   9/19/2022   CHF    73.700
Landesbank Baden-Wuertte     5.000   6/24/2022   EUR    67.360
Credit Suisse AG/London      4.180   9/14/2022   USD     9.800
Credit Suisse AG/London      6.190   9/14/2022   USD    10.000
Leonteq Securities AG/Gu    16.000   06/01/2022  USD    70.790
Leonteq Securities AG/Gu    12.000   6/28/2022   CHF    69.790
Vontobel Financial Produ     9.750   6/24/2022   EUR    72.781
Landesbank Baden-Wuertte     3.300  12/27/2021   EUR    70.160
Landesbank Baden-Wuertte     5.150  12/27/2021   EUR    62.300
Bayerische Landesbank        3.000   2/25/2022   EUR    67.450
Bayerische Landesbank        1.550   2/23/2024   EUR    71.240
Leonteq Securities AG/Gu    12.200   02/07/2022  USD    71.790
UBS AG/London               13.000   2/14/2022   CHF    68.450
UniCredit Bank AG           10.300  12/24/2021   EUR    59.290
BNP Paribas Emissions- u    10.000   9/23/2021   EUR     1.010
Zurcher Kantonalbank Fin     7.000   2/21/2022   CHF    72.760
BNP Paribas Issuance BV      5.000   11/05/2024  EUR    33.520
Raiffeisen Schweiz Genos     7.800  11/22/2021   CHF    57.180
UBS AG/London                7.000  11/29/2021   EUR    60.800
EFG International Financ     9.000  11/29/2021   EUR    72.670
UniCredit Bank AG            6.100  12/24/2021   EUR    69.320
UniCredit Bank AG           11.300  12/24/2021   EUR    56.100
UniCredit Bank AG            9.300  12/24/2021   EUR    62.450
UniCredit Bank AG           10.100  12/24/2021   EUR    60.930
UniCredit Bank AG            6.500  12/24/2021   EUR    72.220
UniCredit Bank AG            7.300  12/24/2021   EUR    70.120
UniCredit Bank AG            8.100  12/24/2021   EUR    68.160
UniCredit Bank AG           10.400  12/24/2021   EUR    53.940
UniCredit Bank AG           10.000  12/24/2021   EUR    41.310
UniCredit Bank AG           10.800  12/24/2021   EUR    40.100
Skandinaviska Enskilda B     6.000   1/15/2025   SEK    72.830
Zurcher Kantonalbank Fin     4.000   02/11/2022  CHF    54.880
Zurcher Kantonalbank Fin     8.125   02/11/2022  EUR    56.040
Zurcher Kantonalbank Fin     9.750   02/11/2022  USD    56.880
Leonteq Securities AG/Gu     9.400   02/04/2022  CHF    65.570
UBS AG/London               13.000   02/07/2022  CHF    67.400
UBS AG/London               10.500  10/18/2021   CHF    59.150
DekaBank Deutsche Giroze     3.200   11/04/2022  EUR    65.540
Societe Generale Effekte     6.500   9/24/2021   EUR    53.120
Societe Generale Effekte    12.500   9/24/2021   EUR    43.340
Societe Generale Effekte     4.500   9/24/2021   EUR    59.520
Raiffeisen Centrobank AG     6.000   10/07/2021  EUR    65.560
UBS AG/London                8.250   9/20/2021   CHF    71.750
Zurcher Kantonalbank Fin     7.750   09/09/2021  EUR    67.610
UBS AG/London                7.000   9/13/2021   CHF    59.300
UBS AG/London                7.750   9/13/2021   EUR    56.000
UBS AG/London                8.500   9/13/2021   EUR    65.300
Landesbank Baden-Wuertte     2.100  10/27/2023   EUR    63.710
Societe Generale SA         13.010   02/02/2023  USD    74.450
EFG International Financ     7.800   1/17/2022   CHF    71.760
Vontobel Financial Produ     9.100   2/21/2022   EUR    64.765
UBS AG/London               10.000   1/17/2022   CHF    76.300
BNP Paribas Emissions- u     5.000   3/24/2022   EUR    67.460
BNP Paribas Emissions- u     4.000   3/24/2022   EUR    72.660
BNP Paribas Emissions- u    10.000   3/24/2022   EUR     6.100
BNP Paribas Emissions- u     7.000  12/23/2021   EUR    57.400
Landesbank Baden-Wuertte     3.500   3/24/2023   EUR    70.560
Zurcher Kantonalbank Fin    10.750   1/21/2022   CHF    53.360
Landesbank Baden-Wuertte     3.250  10/22/2021   EUR    65.860
Landesbank Baden-Wuertte     6.500  10/22/2021   EUR    56.900
DZ Bank AG Deutsche Zent    16.200   9/24/2021   EUR    69.380
DZ Bank AG Deutsche Zent    20.700   9/24/2021   EUR    62.140
Zurcher Kantonalbank Fin    11.250  10/20/2022   USD    64.420
Zurcher Kantonalbank Fin    15.000  10/21/2021   USD    60.940
Societe Generale Effekte     3.750   9/24/2021   EUR    69.410
Vontobel Financial Produ     6.000  12/24/2021   EUR    67.380
Vontobel Financial Produ    11.500  12/24/2021   EUR    56.530
Vontobel Financial Produ    13.500  12/24/2021   EUR    53.940
Societe Generale Effekte     6.500   9/24/2021   EUR    65.280
Societe Generale Effekte    12.500   9/24/2021   EUR    52.860
UniCredit Bank AG            7.000  12/24/2021   EUR    72.640
UniCredit Bank AG           10.000  12/24/2021   EUR    50.620
UniCredit Bank AG            9.100  12/24/2021   EUR    52.970
EFG International Financ    13.000   11/08/2021  EUR    57.280
UBS AG/London                8.250   11/08/2021  CHF    71.050
Bayerische Landesbank        3.000  11/26/2021   EUR    61.650
Leonteq Securities AG        7.500   11/08/2022  CHF    62.530
Vontobel Financial Produ    11.000   9/24/2021   EUR    55.360
Vontobel Financial Produ    13.500   9/24/2021   EUR    52.070
Leonteq Securities AG/Gu    17.450   09/01/2021  EUR    67.810
Leonteq Securities AG/Gu    19.470   09/01/2021  EUR    67.790
Vontobel Financial Produ    10.250   9/24/2021   EUR    42.024
UBS AG/London               10.500  11/15/2021   CHF    67.300
Raiffeisen Schweiz Genos     4.000  11/15/2022   CHF    73.340
Societe Generale Effekte    13.479  12/24/2021   EUR    66.880
UBS AG/London                8.750   9/27/2021   CHF    71.300
UniCredit Bank AG            5.650   11/06/2023  EUR    70.240
Vontobel Financial Produ    12.500   9/24/2021   EUR    53.680
Vontobel Financial Produ    15.000   9/24/2021   EUR    37.318
Vontobel Financial Produ    10.000   9/24/2021   EUR    63.888
Landesbank Baden-Wuertte     3.900  10/22/2021   EUR    55.990
Bayerische Landesbank        3.600  10/28/2022   EUR    69.670
Vontobel Financial Produ    14.000   9/24/2021   EUR    42.670
Vontobel Financial Produ     9.000   9/24/2021   EUR    71.160
Vontobel Financial Produ    11.500   9/24/2021   EUR    66.520
Vontobel Financial Produ    13.000   9/24/2021   EUR    64.470
Vontobel Financial Produ    16.000   9/24/2021   EUR    60.760
Vontobel Financial Produ    17.000   9/24/2021   EUR    59.040
Vontobel Financial Produ    20.000   9/24/2021   EUR    55.990
Leonteq Securities AG/Gu     3.400   3/20/2024   CHF    38.740
Leonteq Securities AG        3.900   9/21/2029   CHF    72.630
Raiffeisen Schweiz Genos     2.700   9/22/2026   CHF    52.140
Leonteq Securities AG        3.900  12/20/2024   CHF    47.760
Leonteq Securities AG/Gu    10.000   7/19/2022   CHF    59.640
UniCredit Bank AG           10.900  12/24/2021   EUR    62.080
UniCredit Bank AG            8.900  12/24/2021   EUR    70.760
UniCredit Bank AG            5.700  12/24/2021   EUR    63.400
UniCredit Bank AG            9.300  12/24/2021   EUR    52.280
UniCredit Bank AG            7.800  12/24/2021   EUR    56.060
UniCredit Bank AG            6.400  12/24/2021   EUR    66.940
UniCredit Bank AG            8.100  12/24/2021   EUR    39.970
UniCredit Bank AG            8.300  12/24/2021   EUR    61.980
UniCredit Bank AG            6.300  12/24/2021   EUR    64.500
UniCredit Bank AG            9.900  12/24/2021   EUR    54.430
UniCredit Bank AG            7.500  12/24/2021   EUR    60.700
UniCredit Bank AG            9.100  12/24/2021   EUR    48.470
UniCredit Bank AG            6.600  12/24/2021   EUR    71.030
UniCredit Bank AG            9.900  12/24/2021   EUR    51.070
UniCredit Bank AG            9.700  12/24/2021   EUR    37.130
UniCredit Bank AG            8.900  12/24/2021   EUR    38.470
UniCredit Bank AG           11.200  12/24/2021   EUR    34.820
UniCredit Bank AG            9.700  12/24/2021   EUR    65.160
UniCredit Bank AG            9.700  12/24/2021   EUR    68.680
UniCredit Bank AG           10.500  12/24/2021   EUR    66.810
UniCredit Bank AG           11.100  12/24/2021   EUR    51.970
UniCredit Bank AG           10.900  12/24/2021   EUR    45.040
UniCredit Bank AG           11.400  12/24/2021   EUR    47.760
UniCredit Bank AG           12.900  12/24/2021   EUR    45.000
UniCredit Bank AG            4.200   12/06/2022  EUR    68.770
UBS AG/London                8.000   11/08/2021  CHF    57.850
Bank Julius Baer & Co Lt    12.000   10/12/2021  USD    58.150
Leonteq Securities AG/Gu    21.000  10/13/2021   USD    65.650
Bank Julius Baer & Co Lt    12.000  10/13/2021   USD    58.100
Societe Generale Effekte     8.500   9/24/2021   EUR    48.880
Societe Generale Effekte    10.500   9/24/2021   EUR    45.780
Vontobel Financial Produ    21.500   9/24/2021   EUR    72.130
Landesbank Baden-Wuertte     3.690  12/23/2022   EUR    71.790
DekaBank Deutsche Giroze     2.000   02/10/2023  EUR    67.670
Raiffeisen Schweiz Genos     7.750   1/27/2022   CHF    75.810
Leonteq Securities AG        8.600   1/24/2023   CHF    72.330
UniCredit Bank AG           10.500  12/24/2021   EUR    57.990
UniCredit Bank AG           10.300  12/24/2021   EUR    58.350
DekaBank Deutsche Giroze     3.500   2/24/2023   EUR    64.540
UniCredit Bank AG            9.000  12/24/2021   EUR    66.380
UniCredit Bank AG           14.600  12/24/2021   EUR    71.700
UniCredit Bank AG            8.300  12/24/2021   EUR    57.250
UniCredit Bank AG           12.500  12/24/2021   EUR    37.990
UniCredit Bank AG           11.700  12/24/2021   EUR    39.010
Leonteq Securities AG        7.200   1/31/2022   CHF    76.000
Bank Julius Baer & Co Lt    10.300   1/31/2022   USD    66.500
Landesbank Baden-Wuertte     4.400   9/23/2022   EUR    52.150
Vontobel Financial Produ    10.500   9/24/2021   EUR    63.990
Leonteq Securities AG/Gu    12.000   11/08/2021  EUR    66.460
Vontobel Financial Produ    11.500   9/24/2021   EUR    61.660
Vontobel Financial Produ    13.000   9/24/2021   EUR    59.560
Vontobel Financial Produ     9.000   9/24/2021   EUR    66.460
Vontobel Financial Produ    14.500   9/24/2021   EUR    57.610
UBS AG/London                8.000   12/06/2021  CHF    69.050
EFG International Financ     9.000   9/20/2021   EUR    60.690
UBS AG/London                7.500   9/20/2021   CHF    55.750
Skandinaviska Enskilda B     4.400   7/15/2022   SEK    71.755
Bayerische Landesbank        3.050   8/27/2021   EUR    74.020
BNP Paribas Emissions- u     9.000   9/23/2021   EUR     1.000
Raiffeisen Schweiz Genos     3.400   3/21/2025   CHF    52.160
EFG International Financ    10.800  12/13/2021   EUR    73.590
UBS AG/London               12.000   12/06/2021  USD    71.050
Leonteq Securities AG/Gu     8.000   12/06/2021  EUR    72.640
Leonteq Securities AG/Gu     7.750   1/17/2022   CHF    71.550
Bayerische Landesbank        2.650   2/25/2022   EUR    71.620
BNP Paribas Emissions- u     6.000   3/24/2022   EUR    63.660
BNP Paribas Emissions- u     5.000  12/23/2021   EUR    66.680
BNP Paribas Emissions- u     7.000   3/24/2022   EUR    58.150
EFG International Financ    15.000   02/03/2022  USD    58.220
UBS AG/London               19.750   02/03/2022  USD    67.650
BNP Paribas Emissions- u     5.000   3/24/2022   EUR    44.570
Raiffeisen Schweiz Genos     3.200  12/18/2026   CHF    64.090
Raiffeisen Schweiz Genos    10.000  12/31/2024   CHF    72.370
Raiffeisen Schweiz Genos     6.600   3/23/2022   CHF    63.030
Vontobel Financial Produ    17.500   9/24/2021   EUR    39.500
Vontobel Financial Produ     8.000   9/24/2021   EUR    73.780
Vontobel Financial Produ    10.500   9/24/2021   EUR    68.780
Vontobel Financial Produ    14.500   9/24/2021   EUR    62.550
Vontobel Financial Produ    13.000   9/24/2021   EUR    53.720
Vontobel Financial Produ     9.500  12/24/2021   EUR    59.550
Vontobel Financial Produ    15.500  12/24/2021   EUR    51.720
UBS AG/London                7.250   10/04/2021  CHF    59.300
DekaBank Deutsche Giroze     3.250  10/15/2021   EUR    68.300
UniCredit Bank AG            7.940   10/04/2021  USD    55.210
Landesbank Baden-Wuertte     7.250   9/24/2021   EUR    51.500
Landesbank Baden-Wuertte     4.500   9/24/2021   EUR    57.640
Vontobel Financial Produ     7.500  12/24/2021   EUR    63.080
Vontobel Financial Produ     8.500   9/24/2021   EUR    61.410
Vontobel Financial Produ    10.500   9/24/2021   EUR    57.260
Vontobel Financial Produ    16.000   9/24/2021   EUR    50.690
Landesbank Baden-Wuertte     2.200   9/24/2021   EUR    65.620
DZ Bank AG Deutsche Zent     9.500   9/22/2021   EUR    49.370
SG Issuer SA                 0.850  10/16/2024   EUR    11.950
Vontobel Financial Produ    10.000   11/11/2021  EUR    67.736
DekaBank Deutsche Giroze     3.700  11/25/2022   EUR    55.420
Leonteq Securities AG/Gu     2.290  10/29/2021   EUR    58.990
Landesbank Baden-Wuertte     4.050   8/26/2022   EUR    59.710
Leonteq Securities AG       12.000  10/18/2021   CHF    62.800
Raiffeisen Schweiz Genos     4.400  10/21/2021   CHF    59.100
Vontobel Financial Produ    10.000  11/22/2021   EUR    68.783
DZ Bank AG Deutsche Zent     9.000   2/23/2022   EUR    53.860
Zurcher Kantonalbank Fin     8.000  10/22/2021   EUR    64.510
Bank Julius Baer & Co Lt     9.500   8/26/2021   CHF    54.650
Bank Julius Baer & Co Lt    12.050   3/18/2022   USD    58.300
Bank Julius Baer & Co Lt    17.100   11/10/2021  USD    62.950
Vontobel Financial Produ    28.350   8/26/2021   EUR    59.601
Goldman Sachs & Co Wertp    10.000   3/23/2022   EUR    72.960
Goldman Sachs & Co Wertp    14.000   3/23/2022   EUR    67.070
Goldman Sachs & Co Wertp    10.000   6/22/2022   EUR    73.100
Goldman Sachs & Co Wertp    13.000   6/22/2022   EUR    67.770
Lehman Brothers Treasury     7.000   2/15/2012   EUR     0.100
Lehman Brothers Treasury     0.250  10/19/2012   CHF     0.100
Lehman Brothers Treasury    14.900   9/15/2008   EUR     0.100
Grupo Isolux Corsan SA       1.000  12/30/2021   USD     0.181
Grupo Isolux Corsan SA       6.000  12/30/2021   USD     0.177
Lehman Brothers Treasury    15.000   3/30/2011   EUR     0.100
Lehman Brothers Treasury     4.690   2/19/2017   EUR     0.100
Lehman Brothers Treasury     6.000   2/14/2012   EUR     0.100
Lehman Brothers Treasury     5.200   3/19/2018   EUR     0.100
Lehman Brothers Treasury     6.600   2/22/2012   EUR     0.100
Grupo Isolux Corsan SA       0.250  12/30/2018   EUR     0.181
Lehman Brothers Treasury     7.750   1/30/2009   EUR     0.100
Lehman Brothers Treasury     0.250   7/21/2014   EUR     0.100
Lehman Brothers Treasury     5.750   6/15/2009   CHF     0.100
Lehman Brothers Treasury    10.000   3/27/2009   USD     0.100
Lehman Brothers Treasury     5.000  10/24/2008   CHF     0.100
Lehman Brothers Treasury     7.500  10/24/2008   USD     0.100
Lehman Brothers Treasury     2.000  10/28/2010   EUR     0.100
Lehman Brothers Treasury     3.860   9/21/2011   SGD     0.100
Lehman Brothers Treasury     4.000   4/24/2009   USD     0.100
Lehman Brothers Treasury     9.000   3/17/2009   GBP     0.100
Lehman Brothers Treasury     7.000  11/28/2008   CHF     0.100
SG Issuer SA                 2.700  11/28/2034   ZAR    45.052
SG Issuer SA                 3.000   10/10/2034  ZAR    47.582
SG Issuer SA                 3.300   9/26/2034   ZAR    49.820
Northland Resources AB      15.000   7/15/2019   USD     2.621
Northland Resources AB      15.000   7/15/2019   USD     2.621
AKB Peresvet ZAO            13.000   10/07/2017  RUB    27.750
Ukraine Government Bond      6.000   06/04/2031  UAH    60.625
Ukraine Government Bond      6.000   12/11/2030  UAH    61.593
Ukraine Government Bond      6.000   03/12/2031  UAH    61.089
Ukraine Government Bond      6.000   8/28/2030   UAH    62.216
Lehman Brothers Treasury     6.720  12/29/2008   EUR     0.100
Lehman Brothers Treasury     7.060  12/29/2008   EUR     0.100
Lehman Brothers Treasury     8.000  12/27/2032   JPY     0.100
Lehman Brothers Treasury     1.500   02/08/2012  CHF     0.100
Lehman Brothers Treasury     0.010   9/20/2011   USD     0.100
Northland Resources AB      12.250   3/26/2016   USD     2.621
Heta Asset Resolution AG     5.920  12/31/2023   EUR     1.440
Rosbank PJSC                 0.010   4/30/2024   RUB    65.000
Otkritie Holding JSC         0.010   10/03/2036  RUB     0.010
Ukraine Government Bond      8.630   05/10/2033  UAH    72.681
Ukraine Government Bond      6.000   1/27/2027   UAH    72.113
Ukraine Government Bond      8.310   11/10/2034  UAH    69.361
Ukraine Government Bond      6.000  11/22/2028   UAH    66.442
Tonon Luxembourg SA         12.500   5/14/2024   USD     0.399
Ukraine Government Bond      8.520   11/10/2033  UAH    71.545
Ukraine Government Bond      8.220   05/10/2035  UAH    68.375
LBI ehf                      5.080   03/01/2013  ISK     9.250
Heta Asset Resolution AG     0.131  12/31/2023   EUR     1.440
Ukraine Government Bond      6.000   9/19/2029   UAH    64.353
Ukraine Government Bond      6.000   9/13/2028   UAH    66.973
Ukraine Government Bond      8.750   11/10/2032  UAH    73.872
Ukraine Government Bond      6.000   10/11/2028  UAH    66.755
Ukraine Government Bond      6.000   5/16/2029   UAH    65.196
Lehman Brothers Treasury     3.500  10/31/2011   USD     0.100
Lehman Brothers Treasury     3.500  10/24/2011   USD     0.100
Lehman Brothers Treasury     6.000   9/20/2011   EUR     0.100
Lehman Brothers Treasury     6.000   5/23/2018   CZK     0.100
Getin Noble Bank SA          5.250   1/31/2024   PLN    63.985
Deutsche Bank AG/London      2.000  10/25/2023   TRY    68.246
MTS-Bank PAO                 9.500  10/28/2029   RUB    51.650
Promsvyazbank PJSC           2.500   9/29/2029   RUB    66.680
Lehman Brothers Treasury     3.000   8/13/2011   EUR     0.100
Lehman Brothers Treasury    13.000   7/25/2012   EUR     0.100
Lehman Brothers Treasury     2.500   8/23/2012   GBP     0.100
Lehman Brothers Treasury     3.000   09/12/2036  JPY     0.100
HSBC Bank PLC                0.500  12/22/2025   BRL    63.005
Barclays Bank PLC            1.450   9/24/2038   MXN    30.435
Lehman Brothers Treasury     8.000  10/23/2008   USD     0.100
Lehman Brothers Treasury    14.900  11/16/2010   EUR     0.100
Lehman Brothers Treasury    16.000   10/08/2008  CHF     0.100
Lehman Brothers Treasury     4.600   10/11/2017  ILS     0.100
Elli Investments Ltd        12.250   6/15/2020   GBP    52.250
Lehman Brothers Treasury     3.500  12/20/2027   USD     0.100
Lehman Brothers Treasury     8.050  12/20/2010   HKD     0.100
Lehman Brothers Treasury     5.120   4/30/2027   EUR     0.100
Lehman Brothers Treasury     4.100   8/23/2010   USD     0.100
Lehman Brothers Treasury    12.000   7/13/2037   JPY     0.100
Lehman Brothers Treasury    10.000   06/11/2038  JPY     0.100
BRAbank ASA                  7.410               NOK    50.255
Lehman Brothers Treasury     6.600   02/09/2009  EUR     0.100
Lehman Brothers Treasury     6.000   08/07/2013  EUR     0.100
Barclays Bank PLC            2.000   05/07/2036  MXN    36.802
Lehman Brothers Treasury    11.250  12/31/2008   USD     0.100
Lehman Brothers Treasury    14.100   11/12/2008  USD     0.100
HSBC Bank PLC                0.500  11/25/2025   BRL    63.573
Lehman Brothers Treasury     7.625   7/22/2011   HKD     0.100
Cerruti Finance SA           6.500   7/26/2004   EUR     2.058
Lehman Brothers Treasury     7.750   2/21/2016   EUR     0.100
Lehman Brothers Treasury     4.680   12/12/2045  EUR     0.100
Lehman Brothers Treasury     5.250   04/01/2023  EUR     0.100
Lehman Brothers Treasury    13.000  12/14/2012   USD     0.100
Lehman Brothers Treasury     4.820  12/18/2036   EUR     0.100
Lehman Brothers Treasury     6.700   4/21/2011   USD     0.100
Laurel GmbH                  7.125  11/16/2017   EUR     7.750
LBI ehf                      8.650   05/01/2011  ISK     9.250
Lehman Brothers Treasury     8.875   1/28/2011   HKD     0.100
Rosbank PJSC                 0.020   4/30/2024   RUB    65.000
Heta Asset Resolution AG     5.270  12/31/2023   EUR     1.440
Getin Noble Bank SA          4.750   5/31/2024   PLN    62.895
Getin Noble Bank SA          4.250   6/28/2024   PLN    73.675
Lehman Brothers Treasury     6.000   7/28/2010   EUR     0.100
Lehman Brothers Treasury     3.000   08/08/2017  EUR     0.100
Lehman Brothers Treasury     4.150   8/25/2020   EUR     0.100
Lehman Brothers Treasury     6.000   12/06/2016  USD     0.100
Getin Noble Bank SA          5.250  11/30/2023   PLN    69.675
Lehman Brothers Treasury     1.500  10/25/2011   EUR     0.100
Lehman Brothers Treasury     9.000   6/13/2009   USD     0.100
Lehman Brothers Treasury     7.375   9/20/2008   EUR     0.100
Lehman Brothers Treasury     3.850   4/24/2009   USD     0.100
Lehman Brothers Treasury     7.250   10/06/2008  EUR     0.100
Lehman Brothers Treasury    10.500   08/09/2010  EUR     0.100
Lehman Brothers Treasury     8.000   5/22/2009   USD     0.100
Lehman Brothers Treasury     4.500   03/06/2013  CHF     0.100
Instabank ASA                9.200               NOK    48.605
Lehman Brothers Treasury     5.500   6/15/2009   CHF     0.100
Lehman Brothers Treasury     8.000   08/03/2009  USD     0.100
Lehman Brothers Treasury    11.000   6/29/2009   EUR     0.100
Lehman Brothers Treasury     3.025   1/31/2015   EUR     0.100
Lehman Brothers Treasury     0.750   3/29/2012   EUR     0.100
Lehman Brothers Treasury     0.128   11/02/2035  EUR     0.100
Lehman Brothers Treasury     4.500   03/07/2015  EUR     0.100
Espirito Santo Financial     5.625   7/28/2017   EUR     0.528
Lehman Brothers Treasury     2.500  12/15/2011   GBP     0.100
Lehman Brothers Treasury     4.000  11/24/2016   EUR     0.100
Lehman Brothers Treasury     7.585  11/22/2009   MXN     0.100
Lehman Brothers Treasury    11.000  12/19/2011   USD     0.100
Lehman Brothers Treasury     8.500   07/06/2009  CHF     0.100
Lehman Brothers Treasury     4.350   08/08/2016  SGD     0.100
Lehman Brothers Treasury     4.500   08/02/2009  USD     0.100
Lehman Brothers Treasury     7.500   9/13/2009   CHF     0.100
Lehman Brothers Treasury     5.103   6/22/2046   EUR     0.100
Astana Finance BV            9.000  11/16/2011   USD    15.250
Lehman Brothers Treasury     7.000   4/14/2009   EUR     0.100
Lehman Brothers Treasury     6.650   8/24/2011   AUD     0.100
Lehman Brothers Treasury     7.600   03/04/2010  NZD     0.100
Instabank ASA                7.830   02/04/2030  NOK    65.513
Lehman Brothers Treasury     2.000   6/28/2011   EUR     0.100
Lehman Brothers Treasury     0.500   08/01/2020  EUR     0.100
Lehman Brothers Treasury     7.600   5/21/2013   USD     0.100
Lehman Brothers Treasury    10.000   6/17/2009   USD     0.100
Lehman Brothers Treasury     0.500   07/02/2020  EUR     0.100
Lehman Brothers Treasury     7.750   01/03/2012  AUD     0.100
Lehman Brothers Treasury     3.100   06/04/2010  USD     0.100
Lehman Brothers Treasury     5.500   07/08/2013  EUR     0.100
Lehman Brothers Treasury    16.000  12/26/2008   USD     0.100
Lehman Brothers Treasury     0.500   06/02/2020  EUR     0.100
Lehman Brothers Treasury    11.000   07/04/2011  CHF     0.100
Lehman Brothers Treasury    11.000   07/04/2011  USD     0.100
Lehman Brothers Treasury    13.150  10/30/2008   USD     0.100
Lehman Brothers Treasury    13.432   01/08/2009  ILS     0.100
Lehman Brothers Treasury    12.000   07/04/2011  EUR     0.100
Lehman Brothers Treasury    16.800   8/21/2009   USD     0.100
Lehman Brothers Treasury     6.250   09/05/2011  EUR     0.100
BNP Paribas SA               1.000   1/23/2040   MXN    21.884
Lehman Brothers Treasury     5.000   05/02/2022  EUR     0.100
Lehman Brothers Treasury     5.000   4/24/2017   EUR     0.100
Lehman Brothers Treasury     2.480   05/12/2009  USD     0.100
Lehman Brothers Treasury     1.600   6/21/2010   JPY     0.100
Lehman Brothers Treasury     2.400   6/20/2011   JPY     0.100
Lehman Brothers Treasury     2.250   05/12/2009  USD     0.100
Lehman Brothers Treasury     4.000   5/30/2010   USD     0.100
Lehman Brothers Treasury     4.000   5/17/2010   USD     0.100
Lehman Brothers Treasury     3.350  10/13/2016   EUR     0.100
Lehman Brothers Treasury     5.100   05/08/2017  HKD     0.100
Lehman Brothers Treasury     0.800  12/30/2016   EUR     0.100
Lehman Brothers Treasury     7.550  12/29/2008   USD     0.100
Lehman Brothers Treasury     8.800  12/27/2009   EUR     0.100
Lehman Brothers Treasury     6.850  12/22/2008   EUR     0.100
Lehman Brothers Treasury     0.500  12/20/2017   AUD     0.100
Lehman Brothers Treasury     9.300  12/21/2010   EUR     0.100
Lehman Brothers Treasury     1.000   2/26/2010   USD     0.100
Lehman Brothers Treasury     8.000   3/21/2018   USD     0.100
Lehman Brothers Treasury     5.375   02/04/2014  USD     0.100
Lehman Brothers Treasury    10.000   2/16/2009   CHF     0.100
Lehman Brothers Treasury     7.000   2/15/2010   CHF     0.100
Lehman Brothers Treasury     0.500  12/20/2017   AUD     0.100
Lehman Brothers Treasury     6.300  12/21/2018   USD     0.100
Lehman Brothers Treasury    13.000   2/16/2009   CHF     0.100
Lehman Brothers Treasury    11.000   2/16/2009   CHF     0.100
Lehman Brothers Treasury     3.500   6/20/2011   EUR     0.100
Lehman Brothers Treasury    10.000  10/22/2008   USD     0.100
Lehman Brothers Treasury     5.500   6/22/2010   USD     0.100
Lehman Brothers Treasury    10.000  10/23/2008   USD     0.100
Lehman Brothers Treasury     4.200   12/03/2008  HKD     0.100
Getin Noble Bank SA          5.250   04/04/2024  PLN    67.616
Lehman Brothers Treasury     7.500   2/14/2010   AUD     0.100
Lehman Brothers Treasury    13.500   06/02/2009  USD     0.100
Lehman Brothers Treasury    23.300   9/16/2008   USD     0.100
Lehman Brothers Treasury     3.000   06/03/2010  EUR     0.100
Lehman Brothers Treasury    12.400   06/12/2009  USD     0.100
Lehman Brothers Treasury    17.000   06/02/2009  USD     0.100
Lehman Brothers Treasury    10.442  11/22/2008   CHF     0.100
Lehman Brothers Treasury     5.550   03/12/2015  EUR     0.100
Lehman Brothers Treasury     5.000  11/22/2012   EUR     0.100
Lehman Brothers Treasury     8.000   5/22/2009   USD     0.100
Lehman Brothers Treasury     1.000   05/09/2012  EUR     0.100
Lehman Brothers Treasury    16.200   5/14/2009   USD     0.100
Lehman Brothers Treasury    10.600   4/22/2014   MXN     0.100
Lehman Brothers Treasury     5.500   4/23/2014   EUR     0.100
Lehman Brothers Treasury     6.000   3/18/2015   USD     0.100
Lehman Brothers Treasury    11.750   03/01/2010  EUR     0.100
Deutsche Bank AG/London      0.500   04/05/2038  MXN    24.223
Lehman Brothers Treasury    16.000  10/28/2008   USD     0.100
Lehman Brothers Treasury     7.600   1/31/2013   AUD     0.100
Lehman Brothers Treasury     6.600   5/23/2012   AUD     0.100
Lehman Brothers Treasury     3.450   5/23/2013   USD     0.100
Lehman Brothers Treasury     8.000   3/19/2012   USD     0.100
Lehman Brothers Treasury     4.000   03/10/2011  EUR     0.100
Lehman Brothers Treasury    11.000  12/20/2017   AUD     0.100
Lehman Brothers Treasury    11.000  12/20/2017   AUD     0.100
Lehman Brothers Treasury     4.000   01/04/2011  USD     0.100
Lehman Brothers Treasury     0.500  12/20/2017   AUD     0.100
LBI ehf                      7.431               USD     0.001
ECM Real Estate Investme     5.000   10/09/2011  EUR    15.375
Lehman Brothers Treasury     1.500   10/12/2010  EUR     0.100
Lehman Brothers Treasury     7.000  10/22/2010   EUR     0.100
Lehman Brothers Treasury     3.400   9/21/2009   HKD     0.100
Lehman Brothers Treasury     4.100   06/10/2014  SGD     0.100
Lehman Brothers Treasury    18.250   10/02/2008  USD     0.100
Lehman Brothers Treasury     4.000   10/12/2010  USD     0.100
Lehman Brothers Treasury     5.200   11/09/2011  EUR     0.100
Lehman Brothers Treasury     1.680   03/05/2015  EUR     0.100
Lehman Brothers Treasury    13.500  11/28/2008   USD     0.100
Lehman Brothers Treasury     6.750   04/05/2012  EUR     0.100
Landesbank Hessen-Thueri     0.650   10/01/2031  EUR    10.074
Lehman Brothers Treasury    16.000   11/09/2008  USD     0.100
Lehman Brothers Treasury     7.000   4/24/2009   USD     0.100
Lehman Brothers Treasury     9.000   05/06/2011  CHF     0.100
Lehman Brothers Treasury    10.000   5/22/2009   USD     0.100
Lehman Brothers Treasury    15.000   06/04/2009  CHF     0.100
Lehman Brothers Treasury     2.500   8/15/2012   CHF     0.100
Lehman Brothers Treasury     2.300   06/06/2013  USD     0.100
Lehman Brothers Treasury     7.500   5/30/2010   AUD     0.100
Lehman Brothers Treasury     7.250   07/08/2014  EUR     0.100
Deutsche Bank AG/London      0.500  10/18/2038   MXN    17.854
Lehman Brothers Treasury     4.000   06/05/2011  USD     0.100
Lehman Brothers Treasury     1.460   2/19/2012   JPY     0.100
Lehman Brothers Treasury     4.300   06/04/2012  USD     0.100
Getin Noble Bank SA          4.250   7/26/2024   PLN    68.715
Sidetur Finance BV          10.000   4/20/2016   USD     1.809
Credit Suisse AG/London      0.500   01/08/2026  BRL    62.179
Getin Noble Bank SA          4.250   8/30/2024   PLN    68.755
Lehman Brothers Treasury     6.000   3/17/2011   EUR     0.100
Lehman Brothers Treasury     4.050   9/16/2008   EUR     0.100
Societe Generale Effekte     6.750   8/27/2021   EUR    66.760
Societe Generale Effekte    12.750   8/27/2021   EUR    54.410
Societe Generale Effekte     6.500   8/27/2021   EUR    60.660
Societe Generale Effekte    14.500   8/27/2021   EUR    46.390
Kuntarahoitus Oyj            0.250   6/28/2040   CAD    40.408
Lehman Brothers Treasury     0.500   2/16/2009   EUR     0.100
Bank Otkritie Financial      0.010   7/16/2025   RUB    73.120
Kreditanstalt fuer Wiede     0.250   10/06/2036  CAD    49.113
RGS Nedvizhimost OOO        12.000  10/18/2017   RUB     0.335
Lehman Brothers Treasury     7.000   07/11/2010  EUR     0.100
Lehman Brothers Treasury     6.000   7/28/2010   EUR     0.100
Lehman Brothers Treasury     4.500  12/30/2010   USD     0.100
Lehman Brothers Treasury    11.000  12/20/2017   AUD     0.100
Lehman Brothers Treasury     0.500  12/20/2017   USD     0.100
Lehman Brothers Treasury     7.600   3/26/2009   EUR     0.100
Lehman Brothers Treasury     8.280   3/26/2009   USD     0.100
Lehman Brothers Treasury     6.000   03/04/2015  USD     0.100
Lehman Brothers Treasury     0.500  12/20/2017   USD     0.100
Lehman Brothers Treasury     0.500  12/20/2017   AUD     0.100
Lehman Brothers Treasury     0.500  12/20/2017   AUD     0.100
Lehman Brothers Treasury     0.500  12/20/2017   USD     0.100
Lehman Brothers Treasury     0.500  12/20/2017   USD     0.100
Lehman Brothers Treasury     8.000  12/31/2010   USD     0.100
Lehman Brothers Treasury     7.150   3/21/2013   USD     0.100
Ukraine Government Bond      8.750   2/16/2033   UAH    74.473
Lehman Brothers Treasury     6.000   6/21/2011   EUR     0.100
Tonon Luxembourg SA          9.250   1/24/2020   USD     1.000
Lehman Brothers Treasury     3.630   03/02/2012  EUR     0.100
Lehman Brothers Treasury     2.000   6/21/2011   EUR     0.100
Ukraine Government Bond      6.000  11/28/2029   UAH    63.887
Ukraine Government Bond      6.000   1/28/2032   UAH    59.415
Ukraine Government Bond      6.000   09/10/2031  UAH    60.116
Lehman Brothers Treasury     4.870   10/08/2013  USD     0.100
Lehman Brothers Treasury     1.950   11/04/2013  EUR     0.100
Lehman Brothers Treasury     2.370   7/15/2013   USD     0.100
Getin Noble Bank SA          5.240   4/29/2024   PLN    63.130
Ukraine Government Bond      8.750   4/20/2033   UAH    73.439
Ukraine Government Bond      5.000   2/20/2032   UAH    53.712
WPE International Cooper    10.375   9/30/2020   USD     5.000
Lehman Brothers Treasury     3.600   3/19/2018   JPY     0.100
Heta Asset Resolution AG     5.030  12/31/2023   EUR     1.440
Irish Bank Resolution Co     4.000   4/23/2018   EUR    33.250
Lehman Brothers Treasury     4.100   5/20/2009   USD     0.100
Lehman Brothers Treasury     2.000   5/17/2010   EUR     0.100
Lehman Brothers Treasury     1.280   11/06/2010  JPY     0.100
Espirito Santo Financial     0.346  10/27/2024   EUR     0.297
Lehman Brothers Treasury     8.600   7/31/2013   GBP     0.100
Lehman Brothers Treasury     4.000   2/28/2010   EUR     0.100
PSN Pm OOO                   9.500   09/10/2026  RUB    21.625
Credit Agricole Corporat     5.400   1/31/2028   BRL    70.526
Lehman Brothers Treasury     2.300   6/27/2013   USD     0.100
Aralco Finance SA           10.125   05/07/2020  USD     0.934
Getin Noble Bank SA          5.240   11/09/2023  PLN    74.035
Lehman Brothers Treasury     5.250  11/21/2009   USD     0.100
Officine Maccaferri-SpA      5.750   06/01/2021  EUR    20.490
Mriya Agro Holding PLC      10.950   3/30/2016   USD     4.667
Lehman Brothers Treasury     3.000   9/13/2010   JPY     0.100
Getin Noble Bank SA          5.250   8/31/2023   PLN    73.375
IT Holding Finance SA        9.875  11/15/2012   EUR     0.031
Nota-Bank OJSC              13.500   04/01/2016  RUB    31.500
Lehman Brothers Treasury     8.280   7/31/2013   GBP     0.100
Lehman Brothers Treasury     7.500   7/31/2013   GBP     0.100
Lehman Brothers Treasury     7.320   7/31/2013   GBP     0.100
Lehman Brothers Treasury     3.820  10/20/2009   USD     0.100
Lehman Brothers Treasury     4.000   12/02/2012  EUR     0.100
Lehman Brothers Treasury     9.250   6/20/2012   USD     0.100
Barclays Bank PLC            2.000   06/12/2029  TRY    34.368
AKB Peresvet ZAO             0.510   08/04/2034  RUB    30.200



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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
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$775 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial subscription
or balance thereof are US$25 each.  For subscription information,
contact Peter Chapman at 215-945-7000.


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