/raid1/www/Hosts/bankrupt/TCREUR_Public/220725.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, July 25, 2022, Vol. 23, No. 141
Headlines
C R O A T I A
HRVATSKA ELEKTROPRIVREDA: Moody's Ups Unsec. Debt Rating from Ba1
F R A N C E
EN6 SAS: S&P Assigns 'B+' LT Issuer Credit Rating, Outlook Stable
SILICA SAS: Moody's Downgrades CFR to B3, Outlook Still Stable
G E R M A N Y
UNIPER: Germany Okays EUR15-Bil. Rescue Package, Takes 30% Stake
I R E L A N D
GEDESCO TRADE 2020-1: Moody's Ups Rating on EUR7.5MM D Notes to B3
I T A L Y
SAIPEM SPA: Moody's Upgrades CFR to Ba3 & Alters Outlook to Stable
L U X E M B O U R G
LSF10 XL: Moody's Affirms 'B3' CFR, Outlook Remains Stable
N E T H E R L A N D S
EDML 2018-1 BV: Moody's Ups Rating on EUR3.75MM Cl. G Notes to Ba1
SPRINT BIDCO: Moody's Assigns First Time 'B1' Corp. Family Rating
P O R T U G A L
BANCO COMERCIAL PORTUGUES: S&P Affirms 'BB/B' ICRs, Outlook Stable
S W E D E N
RAMUDDEN HOLDCO: S&P Assigns 'B' Long-Term ICR, Outlook Stable
U N I T E D K I N G D O M
ALMA DE CUBA: Owed More Than GBP9MM at Time of Administration
ALTERA INFRASTRUCTURE: Fitch Affirms & Withdraws 'CCC+' LT IDR
ASTON MARTIN: S&P Places 'CCC' Long-Term ICR on Watch Positive
CANNON PROFESSIONAL: Goes Into Liquidation, Owes GBP117,528
COVENTRY AND RUGBY: Moody's Affirms Ba2 Rating on GBP407.2MM Bonds
HEATHROW FINANCE: Moody's Affirms 'Ba2' CFR, Outlook Negative
NEAL STONEMAN: Enters Liquidation, Owes Almost GBP1.5 Million
NEPTUNE ENERGY: Moody's Ups CFR to Ba2 & Alters Outlook to Stable
SEA HOTEL: Enters Administration, Seeks Buyer for Business
TATA STEEL: Threatens to Shut Down Operations, Seeks GBP1.5BB Aid
VUE INTERNATIONAL: Moody's Downgrades CFR to Ca, Outlook Negative
VUE INTERNATIONAL: S&P Downgrades ICR to 'CC', Outlook Negative
X X X X X X X X
[*] BOND PRICING: For the Week July 18 to July 22, 2022
- - - - -
=============
C R O A T I A
=============
HRVATSKA ELEKTROPRIVREDA: Moody's Ups Unsec. Debt Rating from Ba1
-----------------------------------------------------------------
Moody's Investors Service has upgraded to Baa2 from Ba1 Hrvatska
Elektroprivreda d.d. (HEP)'s senior unsecured debt rating.
Concurrently, Moody's has assigned Baa2 long term issuer ratings
to HEP and withdrawn the Ba1 long-term Corporate Family Rating and
the Ba1-PD probability of default rating, in accordance with the
rating agency's practice for corporates transitioning to investment
grade. The outlook is stable. At the same time Moody's has upgraded
HEP's Baseline Credit Assessment (BCA) to baa2 from ba1. This
rating action concludes the review for upgrade initiated on June
28, 2022.
RATINGS RATIONALE
The rating action follows the upgrade of the sovereign long-term
rating of the Government of Croatia to Baa2 with a stable outlook
from Ba1 on July 15, 2022.
The rating action reflects that HEP's ratings are no longer
constrained at the previous Ba1 level following the upgrade of
Croatia's sovereign rating, given the company's track record of a
robust standalone credit profile.
HEP is the vertically integrated incumbent in the Croatian
electricity market and holds a leading position as supplier with
around 90% market share and is the largest producer of electricity
in the country, underpinned by a favourable generation mix, with a
high share of low-cost and low-carbon hydro and nuclear output. Its
earnings, measured as EBITDA, incorporate a contribution of around
50% from lower risk regulated electricity distribution and
transmission activities. Moderate capital investments and a
flexible dividend policy, aligned to its net profit, support the
company's strong financial profile.
HEP's strong stand-alone credit profile, as expressed by a BCA of
baa2, is marked by its track record of consistently strong leverage
metrics, measured as funds from operations (FFO) to net debt of
well over 100% on a regular basis. At the same time, HEP's credit
quality is constrained by a lack of geographical diversification; a
structural short position of own generation against retail supply;
a regulatory framework that is less transparent and predictable
than for Western European peers; and very low or even negative
returns in some smaller business segments, such as district heating
and gas retail and distribution. Fluctuating hydro levels and hence
variable output from its hydro-dominated fleet, which normally
generates slightly less than half of its production, leave the
company exposed to some earnings volatility as supply and trading
needs have to be balanced by more expensive own thermal generation
or wholesale purchases.
Given the 100% ownership of HEP by the Government of Croatia, HEP
falls under Moody's Government-Related Issuers Methodology. The
Baa2 ratings incorporate HEP's BCA of baa2; the high likelihood of
extraordinary support in case of financial distress given HEP's
dominant position in the country's electricity market; and high
default dependence, reflecting the company's strong domestic focus
with around 90% of sales emanating from Croatia.
Given its exposure to domestic regulatory oversight, government
energy policies and local economic conditions, HEP's ratings and
BCA remain constrained by the sovereign rating.
RATIONALE FOR THE STABLE OUTLOOK
The stable outlook on HEP's ratings is in line with that of the
sovereign as Moody's would not expect HEP's ratings to be higher
than that of the government. The stable outlook also reflects
Moody's expectation that the company will continue to maintain a
solid business and financial profile commensurate with the current
BCA, including leverage, expressed as FFO/net debt, of at least 30%
on a sustained basis.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
An upgrade of the rating of the Government of Croatia would likely
result in an upgrade of HEP's ratings, assuming no deterioration in
the company's business or financial profile in the meantime.
Downward pressure could develop on HEP's ratings in the event that
the sovereign rating was downgraded; or if there was a significant
adverse change to Moody's assumptions of support provided by the
Croatian government to HEP in case of financial distress; or a
combination of these factors. The BCA could be downgraded if the
company's financial or liquidity profile or business risk
characteristics were to deteriorate materially, reflected in
FFO/net debt falling to a level below 30% on a sustained basis. A
downgrade of the BCA would not necessarily lead to a lower rating.
The methodologies used in these ratings were Unregulated Utilities
and Unregulated Power Companies published in May 2017.
Headquartered in Zagreb, Croatia, HEP is the parent company for
Croatia's incumbent vertically-integrated utility group. For the
financial year 2021, HEP reported total revenues of HRK15,970
million (around EUR2,120 million) and an operating profit (EBIT) of
HRK1,169 million (around EUR155 million).
===========
F R A N C E
===========
EN6 SAS: S&P Assigns 'B+' LT Issuer Credit Rating, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B+' long-term issuer credit rating
to EN6 SAS and its 'B+' issue and '3' recovery rating to the senior
secured term loan B.
The stable outlook indicates that S&P expects Armor IIMAK to
maintain S&P Global Ratings-adjusted leverage of about 6.0x in
2022, subsequently improving toward 5.5x-5.8x. S&P also expects
modest cash flow generation in the next 18 months supported by
strong adjusted EBITDA margins and stable organic growth.
Private equity house Astorg Partners has completed the acquisition
of a 40% stake in France-based thermal transfer ribbon producer,
Armor IIMAK.
To finance the transaction, Armor IIMAK issued a EUR450 million
equivalent senior secured term loan B maturing in 2029 through EN6
SAS. It has also raised a EUR85 million senior secured revolving
credit facility (RCF) due 2028.
Armor IIMAK's business risk profile reflects its global leading
position in the thermal transfer ribbon market, exposure to stable
end-markets, and strong EBITDA margins. The group has a leading
market share of 40% in the global thermal transfer ribbon market
and operations in Europe, America, and the Asia-Pacific region. S&P
said, "Armor Group acquired International Imaging Materials Inc.
(IIMAK) in 2021, a move that we expect will strengthen the group's
positioning in North America. In our view, Armor IIMAK benefits
from its exposure to diversified and fairly resilient end-markets
(60% of annual revenue), such as food and beverage, and
pharmaceutical and health care; that said, we believe 40% of
revenue is exposed to more cyclical markets. Armor IIMAK regularly
implements productivity-enhancing measures and operates in close
proximity to its customers, which reduces transportation costs. Its
contracts are not indexed to changes in input costs, but we
consider that Armor IIMAK's ability to pass through raw material
price fluctuations is adequate and has enabled the group to
maintain strong S&P Global Ratings-adjusted EBITDA margins, above
the average in the overall packaging industry. Our one-notch
positive comparative rating adjustment reflects the relatively
strong positioning of Armor IIMAK's business risk profile compared
with 'B'-rated peers."
S&P said, "In assessing the group's financial risk profile, we
incorporate our expectation that adjusted debt to EBITDA will be
about 6.0x at year-end 2022 and between 5.5x-5.8x in 2023, and the
financial sponsor ownership. Following the issuance of a EUR450
million term loan B to refinance existing debt and partly finance
the acquisition of Armor IIMAK by Astorg, we anticipate that its
adjusted debt to EBITDA will be about 6.0x at end-2022. We forecast
that adjusted leverage will remain between 5.5x-5.8x by end-2023,
based on EBITDA growth and the realization of synergies. In
addition, we expect funds from operations (FFO) to debt to be about
11% in 2022-2023.
"Private equity house Astorg holds a 40% stake in the company,
while management retains the remaining 60%. We consider
management's high stake as positive for Armor IIMAK's financial
policy. We do not anticipate that leverage will increase beyond the
opening level and do not forecast any dividend payments or large,
debt-financed acquisitions.
"We expect free operating cash flow (FOCF) in 2022 will be
undermined by high working capital needs and capital expenditure
(capex), and anticipate that it will recover in 2023.We forecast
negative FOCF of about EUR5 million in 2022. We believe cash
generation will be temporarily dented in 2022 by a spike in working
capital needs due to an increase in inventories as a precautionary
measure to ensure continuity in operations in case of any supply
chain disruption. Capex of about EUR35 million reflects higher
costs for expansion projects and new machinery. We expect that more
modest working capital needs (a EUR5 million outflow), higher
EBITDA generation, and slightly lower capex (about EUR30 million)
will result in FOCF of about EUR20 million-EUR25 million in 2023,
more in line with our expectations for a 'B+'-rated issuer.
"The ratings are in line with the preliminary ratings we assigned
on Feb. 14, 2022, following the close of the transaction and our
review of the final documentation.
"The stable outlook indicates that we expect Armor IIMAK to
maintain S&P Global Ratings-adjusted leverage around 6.0x in 2022,
but subsequently improving toward 5.5x-5.8x. We also expect modest
cash flow generation in the next 18 months supported by strong
adjusted EBITDA margins and stable organic growth.
"We could lower our rating on Armor IIMAK if credit metrics
deteriorated, so that adjusted debt to EBITDA rose above 6x or FFO
to debt fell below 10% and remained at these levels. We could also
lower the rating if the company's financial policy became more
aggressive, preventing it from materially reducing leverage, or if
the company were unable to sustain material FOCF.
"We view an upgrade as unlikely in the next 12 months. We could
raise the rating if adjusted debt to EBITDA dropped below 4.5x and
the company sustained robust FOCF while demonstrating that its
financial policy would support the stronger credit metrics."
ESG credit indicators: E-2, S-2, G-3
S&P said, "Governance factors are a moderately negative
consideration in our credit rating analysis of Armor IIMAK. In our
view, financial-sponsor-owned companies that have highly leveraged
financial risk profiles tend to demonstrate corporate
decision-making that prioritizes the interests of the financial
sponsors. Typically, they have finite holding periods and focus on
maximizing shareholder returns.
"Environmental factors have an overall neutral influence on our
credit rating analysis. We consider that the low substitution risk
in Armor IIMAK's substrates is positive. That said, we believe that
the exposure to plastic resins could lead to environmental and
regulatory risks in the longer term."
SILICA SAS: Moody's Downgrades CFR to B3, Outlook Still Stable
--------------------------------------------------------------
Moody's Investors Service has downgraded to B3 from B2 the
corporate family rating and to B3-PD from B2-PD the probability of
default rating of Silica S.A.S. (SGD Pharma or the company). SGD
Pharma is a French glass packaging manufacturer for the
pharmaceutical and beauty industries. Concurrently, Moody's has
downgraded to B3 from B2 the ratings on the EUR500 million senior
secured first-lien term loan due 2028 and on the EUR90 million
senior secured first-lien revolving credit facility (RCF) due 2028,
both borrowed by Silica S.A.S. The outlook on all ratings remains
stable.
"The downgrade to B3 reflects a weaker than anticipated operating
performance since the assignment of the first time ratings, owing
to reduced demand and a sharp increase in input and transportation
costs," says Donatella Maso, a Moody's Vice President - Senior
Credit Officer, and lead analyst for SGD Pharma.
"This weak performance has led to a material increase in leverage
to levels no longer consistent with the previous B2 rating," adds
Ms Maso.
RATINGS RATIONALE
The downgrade of SGD Pharma's CFR to B3 reflects a weaker than
anticipated operating performance in 2021 and the resulted
deterioration in the company's credit metrics owing to volume
shortfalls driven by lower levels of seasonal pathologies (given
limited social interactions) and reduced hospital activity due to
postponed operations caused by coronavirus as well as commodity
price inflation.
EBITDA, as adjusted by Moody's, fell by 30% to EUR63 million
compared to EUR90 million in 2020. EBITDA margin dropped to 19%
from 26% and leverage reached 9.0x, significantly higher than the
6.0x maximum leverage tolerance for the previous rating category.
Despite lower than budgeted capital expenditures, free cash flow
generation was negative because of lower EBITDA and high
exceptional operating costs.
While volumes started to recover since Q4 2021 and revenue
increased by 14% in the first quarter of 2022, SGD Pharma's EBITDA
continued to be hampered by high commodity costs and supply chain
disruptions, particularly in North America, and it remained in line
with Q1 2021 at EUR16 million. LTM March 2022 leverage, as adjusted
by Moody's, slightly increased to 9.2x due to additional drawings
under the senior secured first-lien RCF.
The company is now reporting improving volumes and it has
implemented mitigating actions such as price increases, energy
hedging and cost containment initiatives. Although Moody's expects
that the demand for pharma glass packaging will be sustained even
in a deteriorating macroeconomic environment, ongoing inflationary
pressures – particularly on electricity -, operational
disruptions, as well as the rephasing of certain capital
investments will limit the pace of EBITDA recovery. As a result,
the rating agency expects that the company's EBITDA will not reach
its 2020 levels until 2024, while leverage will exceed 7x and its
free cash flow will remain negative until 2023.
The B3 rating also reflects the company's focused product offering
in the glass packaging segment, and the competitive nature of the
pharma packaging market. It further reflects the capital intensity
of furnace maintenance and working capital needs which will
continue to absorb the majority of the cash flow going forward, and
the execution risk associated with its expansion strategy in
emerging markets and its TOP2025 plan. While most of the company's
revenues are derived from pharmaceutical products, 15% is generated
from the beauty and cosmetic industry, which is viewed as less
resilient to economic cycles.
More positively, the B3 rating is supported by the company's
leading market position as one of the world's largest glass
packaging manufacturers in its niche product categories with a
focus on high-margin glass containers with a well invested asset
base. It further reflects its geographic presence in both mature
and faster growing emerging markets and a diversified customer base
with over 3,000 clients, and the positive fundamentals of the
pharmaceutical industry, the high switching costs, and barriers
to entry due to the long validation processes and required
regulatory approvals, as well as material investments in know-how
and industrial footprint.
LIQUIDITY
Moody's views SGD Pharma's liquidity as adequate for its near-term
requirements. The company's liquidity is supported by EUR37 million
of cash on balance sheet at the end of March 2022, albeit EUR12
million is not immediately available, EUR70 million availability
under its EUR90 million senior secured first-lien RCF, and no
material debt maturities until 2028 when the senior secured
first-lien term loan and the senior secured first-lien RCF are due.
These sources are deemed more than sufficient to cover the expected
negative free cash flow generation driven by high capital
expenditures to support its TOP2025 plan and the capacity
expansions in India and China, in addition to the routine plant
maintenance.
The senior secured first-lien RCF includes a maximum net leverage
covenant ratio of 10.3x which will be tested when drawings under
this facility exceed 40%. Moody's expects SGD Pharma to comply
satisfactorily with its covenant over the next 12 to 18 months. SGD
Pharma reported a net leverage ratio of 5.9x at the end of March
2022.
STRUCTURAL CONSIDERATIONS
The B3-PD PDR is aligned with the CFR based on a 50% recovery rate
because of the all-bank debt structure with a covenant-lite
package. The B3 instrument ratings on the senior secured bank
credit facilities are aligned with the CFR as they represent all
financial debt in the capital structure. The debt facilities
benefit from a fairly weak security package comprised of pledges
over shares, material bank accounts and intercompany receivables,
whilst guarantors represent at least 80% of consolidated EBITDA.
The capital structure also includes a shareholder loan maturing in
March 2029, which qualifies as equity under Moody's criteria for
hybrid instruments issued by speculative-grade issuers.
RATIONALE FOR STABLE OUTLOOK
Although SGD Pharma is weakly positioned in its B3 rating, the
stable outlook reflects Moody's expectation that the company will
gradually resume its growth trajectory and reduce its gross
leverage below 7.0x in 2024, maintaining an adequate liquidity
profile. The outlook also incorporates Moody's assumption that the
company will not engage in material debt-funded acquisitions or
shareholder distributions.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Upward pressure on the rating is unlikely in the near term as the
company is currently weakly positioned in the rating category.
Positive pressure on the rating could arise over time if SGD
Pharma's operating performance significantly improves, resulting in
substantial reduction in leverage to around 6.0x with positive FCF,
both on a sustained basis, whilst maintaining a solid liquidity
profile.
Negative pressure on the rating could arise if operating
performance further deteriorates or if Moody's adjusted leverage
remains sustainably above 7.0x after 2023 with EBIT/Interest cover
below 1.0x and negative free cash flow, or if its liquidity
weakens.
LIST OF AFFECTED RATINGS
Downgrades:
Issuer: Silica S.A.S.
Probability of Default Rating, Downgraded to B3-PD from B2-PD
LT Corporate Family Rating, Downgraded to B3 from B2
Senior Secured Bank Credit Facility, Downgraded to B3 from B2
Outlook Actions:
Issuer: Silica S.A.S.
Outlook, Remains Stable
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Packaging
Manufacturers: Metal, Glass and Plastic Containers published in
December 2021.
COMPANY PROFILE
Headquartered in Paris (France), SGD Pharma is a leading
manufacturer of primary glass packaging and containers for the
pharmaceutical and beauty industries, with a global footprint
spread across Europe, North America, India and China. For the last
twelve months that ended March 31, 2022, the company generated
approximately EUR339 million of revenue and EUR63 million of
Moody's adjusted EBITDA.
=============
G E R M A N Y
=============
UNIPER: Germany Okays EUR15-Bil. Rescue Package, Takes 30% Stake
----------------------------------------------------------------
Joe Miller, Guy Chazan and David Sheppard at The Financial Times
report that Germany has agreed a EUR15 billion rescue package for
Uniper, and will take a 30% stake in the energy company that came
close to collapse after Russia slashed gas supplies to Europe's
largest economy.
Chancellor Olaf Scholz, who broke off his holiday in southern
Germany to complete the deal, said Uniper was of "paramount
importance" to the country's economy and for safeguarding energy
supplies to companies and residential customers, the FT relates.
Europe's largest buyer of Russian gas, Uniper had been losing tens
of millions of euros a day since Russia's Gazprom drastically
reduced supplies of the fuel to Germany through the Nord Stream 1
pipeline in mid-June, the FT notes. Officials in Berlin worried
that the company's collapse might trigger a Lehman Brothers-style
meltdown of the whole German energy sector, the FT states.
According to the FT, under the Uniper bailout, the company will be
able to access up to EUR7.7 billion in government support, as
required. A credit line from German state-owned bank KfW will also
be increased from EUR2 billion to EUR9 billion, and the government
will be represented on the company's supervisory board, the FT
discloses.
But the bailout of Uniper will mean higher prices for German
consumers, the FT says. Under its terms, from October at the
latest, Uniper will be legally entitled to pass on higher costs to
its customers -- corporates and municipal utilities, the FT notes.
These will then be able to pass on the extra costs to private
households.
As part of the rescue package, Berlin will buy EUR267 million of
new Uniper shares at EUR1.70 each, pending shareholder approval,
the FT discloses.
Uniper's majority owner Fortum, which is in-turn majority owned by
the Finnish government, will see its stake of almost 80% diluted to
56%, the FT notes. Mr. Scholz acknowledged that existing
shareholders were making a "multibillion-dollar contribution" to
saving the company, the FT relays.
According to the FT, Fortum chief executive Markus Rauramo warned
that while Uniper had been stabilised for now, "further efforts
will be required to create a long-term sustainable basis for the
gas business".
=============
I R E L A N D
=============
GEDESCO TRADE 2020-1: Moody's Ups Rating on EUR7.5MM D Notes to B3
------------------------------------------------------------------
Moody's Investors Service has upgraded the ratings of Class C and
Class D Notes in Gedesco Trade Receivables 2020-1 Designated
Activity Company:
EUR15M Class C Notes, Upgraded to Ba3 (sf); previously on Mar 11,
2020 Definitive Rating Assigned B2 (sf)
EUR7.5M Class D Notes, Upgraded to B3 (sf); previously on Mar 11,
2020 Definitive Rating Assigned Caa2 (sf)
Moody's has also affirmed the ratings on the following Notes:
EUR225M (Current outstanding balance EUR208.2M) Class A Notes,
Affirmed Aa3 (sf); previously on Mar 11, 2020 Definitive Rating
Assigned Aa3 (sf)
EUR15M Class B Notes, Affirmed Baa2 (sf); previously on Mar 11,
2020 Definitive Rating Assigned Baa2 (sf)
EUR7.5M Class E Notes, Affirmed Caa3 (sf); previously on Mar 11,
2020 Definitive Rating Assigned Caa3 (sf)
EUR15M Class F Notes, Affirmed Ca (sf); previously on Mar 11, 2020
Definitive Rating Assigned Ca (sf)
The transaction is a revolving cash securitisation of different
types of receivables (factoring, promissory notes and short-term
loans) originated or acquired by Gedesco Finance S.L. ("Gedesco",
NR) and Toro Finance, S.L.U. (NR) to enterprises and self-employed
individuals located in Spain. The revolving period is ending in
January 2023.
RATINGS RATIONALE
The rating action is prompted by the deleveraging of the
outstanding senior Notes linked to the breach of the cash
collateral ratio trigger in Q4 2020 and the continued stable
collateral performance.
Revision of Key Collateral Assumptions:
As part of the rating action, Moody's reassessed its default
probability and recovery rate assumptions for the portfolio
reflecting the collateral performance to date.
The performance of the transaction has continued to be stable since
closing in March 2020. Cumulative defaults currently stand at 0% of
original pool balance.
For Gedesco Trade Receivables 2020-1 Designated Activity Company
the current default probability is 10.7% of the current portfolio
balance and the assumption for the fixed recovery rate is 36%.
Moody's has maintained the CoV at 53.2% which, combined with the
revised key collateral assumptions, corresponds to a portfolio
credit enhancement of 27.3%.
Increase in Available Credit Enhancement
Sequential amortization led to the increase in the credit
enhancement available in this transaction.
For instance, the credit enhancement for the most senior tranche
increased to 27.2% from 25.4% since closing. In the case of Class C
and D Notes, credit enhancement levels increased to 15.9% and 13.2%
from 15.0% and 12.5% respectively during the same period.
Counterparty Exposure
The rating action took into consideration the Notes' exposure to
relevant counterparties, such as servicer or account bank
provider.
The principal methodology used in these ratings was "Moody's Global
Approach to Rating SME Balance Sheet Securitizations" published in
July 2022.
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 and (3) improvements in the credit quality of
the transaction counterparties.
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.
=========
I T A L Y
=========
SAIPEM SPA: Moody's Upgrades CFR to Ba3 & Alters Outlook to Stable
------------------------------------------------------------------
Moody's Investors Service upgraded the corporate family rating of
Saipem S.p.A. (Saipem) to Ba3 from B1 and its probability of
default rating to Ba3-PD from B1-PD. Moody's also upgraded the
backed senior unsecured MTN program rating of Saipem's guaranteed
subsidiary Saipem Finance International B.V. to (P)Ba3 from (P)B1
as well as the subsidiary's backed senior unsecured rating to Ba3
from B1. Moody's also changed the outlook on both entities to
stable from ratings under review and concluded on the review for
downgrade initiated on February 2, 2022.
"Moody's upgraded Saipem's ratings to Ba3 to reflect that the now
concluded EUR2 billion capital increase provides sufficient
liquidity to execute the company's updated business plan, which is
further supported by the improved business sentiment in the
oilfield service (OFS) industry" says Janko Lukac, a Moody's VP and
Senior Analyst.
RATINGS RATIONALE
The rating action reflects that the capital increase of EUR2
billion has concluded on July 15, 2022. This will strengthen the
group's capital structure and provides it with sufficient liquidity
buffers to execute on its business plan following the material
profit warning in January 2022. It also takes into account Moody's
expectation that the company's two main shareholders with direct
and indirect ties to the Government of Italy (Baa3 stable) - the
oil and gas producer Eni S.p.A. (Baa1 stable) and the country's
promotional institution for economic development Cassa Depositi e
Prestiti S.p.A. (Baa3 stable) through its subsidiary CDP Industria
S.p.A will continue to provide support to Saipem if needed. In
total both own 43% in Saipem's share capital. Both shareholders
have participated in the capital increase according to their
respective stakes.
However, 30% of the newly issued shares could not be placed on the
market, and therefore the banks that have underwritten the rights
issue had to take ownership of these. This is reflective of only
very subdued interest by Saipem's other and/or new equity
investors. Currently, Saipem is negotiating the final details of a
new three year committed revolving credit facility (RCF) of up to
EUR1 billion with its banking group, Saipem expects the RCF to be
signed over the next weeks, considering the conclusion of the
capital increase. Access to committed RCF with long term maturity
and an adequate capacity under covenants is critical for a Ba-type
rating.
As part of its new business plan Saipem has agreed to dispose of
its onshore drilling business for a consideration of $550 million
and a 10% equity stake to KCA Deutag during Q2 2022. The
transaction will strengthen Saipem's liquidity, reduce the group's
complexity focusing its activities on higher margin businesses and
lower its working capital requirements in future.
Moody's also considers positively the much-improved business
environment for the OFS sector and, in particular, Saipem, given
its strong technological capabilities in complex offshore oil and
gas production and particularly around the LNG value chain. The
rating agency expects high oil and gas prices for 2022 and 2023 in
combination with the European efforts to diversify its gas supply
away from Russia are highly likely to result in new and profitable
business for Saipem. Strong demand for Saipem's services and
products could also improve payment terms and speed of cash
collection and hence positively impact working capital and cash
generation.
Consequently, the rating agency expects Saipem to deleverage its
balance sheet from a negative (-) 3.0x debt/EBITDA at the end of
2021 to below 4.5x by the end of 2023, in line with Moody's
expectations for a Ba3 rating and improve its cash generation,
meaningfully.
LIQUIDITY
Saipem's liquidity is adequate following the EUR2 billion capital
increase in July 22. Following the capital increase Moody's expects
Saipem's cash balance to stand at around EUR1.1 billion by
mid-July. This in combination with the EUR550 million for the
disposal of the onshore drilling business (to be collected in H2
2022) will be sufficient to finance about EUR500 million negative
free cash flow expected for the second half of 2022 and a negative
EUR300 million expected for 2023 expected by Moody's.
Furthermore, the rating action takes into account that Saipem will
be able to sign a three year RCF of up to EUR1 billion over the
next 2-8 weeks with its banking group and be able to continue to
rely on uncommitted bilateral bonding and guarantee lines, which
are necessary for its business. Saipem has a EUR500 million bond
(maturing in September 2023) and EUR208 million of ECA and bank
facilities coming due in 2023, which Moody's expect to be at least
partially refinanced.
ESG CONSIDERATIONS
Corporate governance considerations were among the key drivers of
this action, reflecting Saipem's improved liquidity profile, and
the evidence of support by its shareholders reflected in improving
the company G IPS score to G4 (highly negative) from G5 (very
highly negative. Moody's expects Saipem to focus on deleveraging
once it returns to sustained free cash flow generation.
Environmental considerations include Saipem's carbon transition
strategy centered around its commitment to reducing its greenhouse
gas emissions (scope 1 and 2) by 50% in 2035 from the 2018 baseline
while achieving scope 2 neutrality by 2025, primarily through the
ongoing shift from oil business toward businesses related to
natural gas and renewable energy.
RATIONALE FOR THE STABLE OULOOK
The stable outlook on Saipem's ratings reflects the evidence of
support from very solvent shareholders, which by supporting the
equity increase, provided the company with sufficient liquidity to
restructure its business. Furthermore, the currently strong demand
for Saipem's strong technological capabilities and services is very
likely to result in improving operating performance and cash
generation over the next 12-18 months.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Saipem's Ba3 CFR could be upgraded if the company built a track
record of its Moody's adjusted FFO/debt sustainably above 20%,
generates meaningful free cash flow on a sustained basis and its
Moody's adjusted gross debt/EBITDA declines sustainably below 4.0x,
while maintaining strong liquidity and improving its track record
of project execution and consistent profitability.
Conversely, Saipem's CFR could be downgraded if its Moody's
adjusted gross debt/EBITDA remained sustainably above 4.5x; its
Moody's adjusted FFO/debt remained sustainably below 15%; or its
liquidity deteriorated, or the company experience further material
delays or additional costs when executing its projects.
LIST OF AFFECTED RATINGS
Issuer: Saipem S.p.A.
Upgrades, Previously Placed On Review for Downgrade:
LT Corporate Family Rating, Upgraded to Ba3 from B1
Probability of Default Rating, Upgraded to Ba3-PD from B1-PD
Outlook Actions, Previously Placed On Review for Downgrade:
Outlook, Changed To Stable From Ratings Under Review
Issuer: Saipem Finance International B.V.
Upgrades:
BACKED Senior Unsecured Medium-Term Note Program, Upgraded to
(P)Ba3 from (P)B1
BACKED Senior Unsecured Regular Bond/Debenture, Upgraded to Ba3
from B1
Outlook Actions:
Outlook, Changed To Stable From Ratings Under Review
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Construction
published in September 2021.
===================
L U X E M B O U R G
===================
LSF10 XL: Moody's Affirms 'B3' CFR, Outlook Remains Stable
----------------------------------------------------------
Moody's Investors Service has affirmed the corporate family rating
of the German manufacturer of wall-building and insulation
materials LSF10 XL Investments S.a r.l (Xella) at B3 and the
probability of default rating at B3-PD. Concurrently, Moody's has
affirmed B3 instrument ratings on senior secured facilities - the
first lien Term Loan B (TLB) maturing in 2028 and the first lien
Revolving Credit Facility (RCF) maturing in 2027 - all issued by
LSF10 XL Bidco SCA and guaranteed by LSF10 XL Investments S.a r.l.
The rating outlook on both entities remains stable.
RATINGS RATIONALE
The rating action reflects Xella's decision to distribute the
majority of cash proceeds from the sale of its insulation business
URSA that amounted to EUR968 million and has been completed in May
2022. At completion the company has repaid EUR285 million of the
TLB, reducing its outstanding amount to EUR1,660 million, and has
distributed EUR595 million from the restricted group to fund the
PIK note partial repayment, reducing its outstanding amount to
EUR100 million, and the shareholder distribution. The remaining
EUR87 million remained on the balance sheet.
Considering the deconsolidation of URSA and the debt repayment,
Moody's adjusted gross leverage at the end of Q1 2022 was around
7.6x, which is high for the current rating category. The sale of
URSA has weakened Xella's business profile because it reduced its
diversification and exposure to generally more resilient renovation
markets that will continue to benefit from the EU's ambition to at
least double the renovation rate by 2030. With the remaining
production of wall-building materials Xella is mostly exposed to
the volatility of new build construction (80-85% of revenue),
within which predominantly to residential construction.
The macroeconomic uncertainty has increased significantly since
Russia's invasion of Ukraine. High inflation rates across Europe
not seen for decades and the corresponding increase in mortgage
rates are risks that may drive a material slowdown in new
residential construction in Europe, negatively impacting Xella's
future operating performance that has been very solid in the past
several years. However, the company retains a large amount of
liquidity on the balance sheet (EUR294 million as of May 2022),
which along with the almost fully undrawn EUR283 million RCF
presents a strong cushion in case of recessionary development in
Europe.
Xella's B3 CFR is supported by (1) its solid market position being
the leading European producer of autoclaved aerated concrete (AAC)
and calcium silicate units (CSU); (2) diversification across
Western and Eastern Europe; (3) flexible production with largely
variable cost structure and a relatively low energy intensity; and
(4) the strong liquidity profile.
However, the rating is constrained by (1) its high exposure to more
cyclical and volatile new-build construction (80% - 85% of group
sales); (2) high inflation and macroeconomic uncertainty; (3)
relatively aggressive financial policy as evidenced by a number of
dividend distributions in the past; (4) still EUR100 million of PIK
notes outstanding outside of the restricted group, which increase
the risk of potential cash leakage over time; and (5) event risk
associated with potential acquisitions considering Xella's strong
liquidity position.
RATIONALE FOR STABLE OUTLOOK
The stable outlook reflects Moody's expectation that the company's
credit metrics will be broadly maintained after the sale of URSA
and the corresponding dividend distribution, with the gross
leverage ratio staying in the range of 7x – 7.5x in the next
12-18 months. Furthermore, Moody's expect Xella to maintain its
strong liquidity, which is a significant mitigant against the
recession risk.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
WHAT COULD MOVE THE RATINGS - UP
Positive rating pressure could arise if:
Moody's adjusted gross debt/EBITDA declines sustainably below 6x;
Moody's adjusted retained cash flow/ net debt in high single
digit;
Positive free cash flow generation with FCF/ debt approaching
mid-single digit.
WHAT COULD MOVE THE RATINGS -- DOWN
Conversely, negative rating pressure could arise if:
Moody's adjusted gross debt/EBITDA increases sustainably above
7.5x;
Moody's adjusted EBITA/ Interest below 1x;
Substantial deterioration in liquidity profile as a result of
large negative FCF, aggressive shareholder distributions or M&A.
STRUCTURAL CONSIDERATION
In the loss-given-default (LGD) assessment for Xella, Moody's ranks
pari passu EUR1,660 million guaranteed 1st lien senior secured TLB
that remains outstanding after the repayment of EUR285 million
following the disposal of URSA and the guaranteed 1st lien senior
secured EUR283 million RCF, which share the same collateral
package, mainly consisting of share pledges over operating
subsidiaries of the Xella group accounting for at least 80% of the
group's assets and EBITDA. These instruments are rated B3 in line
with the corporate family rating.
The capital structure also includes the remaining EUR100 million
PIK notes after the partial repayment following the disposal of
URSA. These notes will mature after the senior secured loans and
are not guaranteed by the restricted group. Therefore, and since
the notes were down-streamed into the restricted group as common
equity, Moody's does not include it in debt and leverage
calculations. However, the existence of the PIK notes implies an
additional risk of potential cash leakage over time, even though
the materiality of this risk has reduced following the sizeable
repayment.
LIQUIDITY
The liquidity profile of the company is strong. This is reflected
in EUR294 million of cash as of the end of May 2022 and pro-forma
the dividend distribution, complimented by almost fully available
EUR283 million revolving credit facility (RCF) maturing in October
2027. Moody's believe that Xella's liquidity sources are more than
enough to cover its working capital seasonality during the year and
the capital investment requirements of the group, providing a
strong cushion in case of recession. Xella's current debt structure
is covenant lite, having a springing covenant set at 9.48x senior
secured net leverage, applicable only to the RCF when it is drawn
by more than 40%.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONS
Moody's takes into account the impact of environmental, social and
governance (ESG) factors when assessing companies' credit quality.
The main environmental and social risks are not material in case of
Xella. The company is less exposed than cement peers to
environmental risks as its production process is significantly less
energy intensive than the production of cement. However, the
company is owned by the private equity firm Lone Star. Moody's
views its financial policy as aggressive favouring shareholders
over creditors as evidenced by a number of large dividend
distributions in the past despite relatively leveraged capital
structure.
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Building
Materials published in September 2021.
COMPANY PROFILE
Headquartered in Luxembourg, LSF10 XL Investments S.a r.l (Xella)
is the holding company of the Xella group. Xella is a leading
European multi-brand manufacturer of modern wall-building materials
for use in residential and non-residential construction. Xella was
acquired by Lone Star Funds in a secondary leveraged buyout in
April 2017. In the last twelve months ended March 2022, the company
reported EUR1.2 billion revenue from continuing operations.
=====================
N E T H E R L A N D S
=====================
EDML 2018-1 BV: Moody's Ups Rating on EUR3.75MM Cl. G Notes to Ba1
------------------------------------------------------------------
Moody's Investors Service has upgraded the ratings of ten Notes and
affirmed the ratings of two Notes in two Dutch RMBS 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 their current ratings.
Issuer: EDML 2017-1 B.V.
EUR233.9M Class A Notes, Affirmed Aaa (sf); previously on Sep 21,
2021 Affirmed Aaa (sf)
EUR3.8M Class B Notes, Upgraded to Aaa (sf); previously on Sep 21,
2021 Affirmed Aa1 (sf)
EUR7.6M Class C Notes, Upgraded to Aa1 (sf); previously on Sep 21,
2021 Upgraded to Aa2 (sf)
EUR2.6M Class D Notes, Upgraded to Aa3 (sf); previously on Sep 21,
2021 Upgraded to A1 (sf)
EUR2.6M Class E Notes, Upgraded to A3 (sf); previously on Sep 21,
2021 Upgraded to Baa1 (sf)
Issuer: EDML 2018-1 B.V.
EUR452.5M Class A Notes, Affirmed Aaa (sf); previously on Sep 21,
2021 Affirmed Aaa (sf)
EUR11.5M Class B Notes, Upgraded to Aaa (sf); previously on Sep
21, 2021 Upgraded to Aa1 (sf)
EUR11M Class C Notes, Upgraded to Aa1 (sf); previously on Sep 21,
2021 Upgraded to Aa3 (sf)
EUR7M Class D Notes, Upgraded to Aa3 (sf); previously on Sep 21,
2021 Upgraded to A2 (sf)
EUR3M Class E Notes, Upgraded to A2 (sf); previously on Sep 21,
2021 Upgraded to Baa2 (sf)
EUR2.5M Class F Notes, Upgraded to Baa1 (sf); previously on Sep
21, 2021 Upgraded to Baa3 (sf)
EUR3.75M Class G Notes, Upgraded to Ba1 (sf); previously on Sep
21, 2021 Affirmed Ba3 (sf)
RATINGS RATIONALE
The rating actions are prompted by decreased key collateral
assumptions, namely the MILAN CE assumption in the case of EDML
2017-1 B.V. and both the portfolio Expected Loss (EL) assumption
and the MILAN CE assumption in the case of EDML 2018-1 B.V., due to
better than expected collateral performance, as well as an increase
in credit enhancement for the affected Notes.
Moody's affirmed the ratings of the Notes that had sufficient
credit enhancement to maintain their current ratings.
Revision of Key Collateral Assumptions
As part of the rating action, Moody's reassessed its lifetime loss
expectation for the portfolios reflecting the collateral
performance to date.
The performance of the two transactions has been strong over the
past year, with low arrears levels and no defaults or losses since
closing. In EDML 2017-1 B.V. there are no loans more than 90 days
in arrears, and 30 plus days arrears stand at 0.23%. In EDML 2018-1
B.V. 90 plus days arrears stand at 0.06%, and 30 plus days arrears
at 0.25%. Moody's has decreased the expected loss assumption as a
percentage of original pool balance for EDML 2018-1 B.V. to 0.90%
from 1.10% which corresponds to an expected loss assumption as a
percentage of current pool balance of 1.29%. Moody's has maintained
the expected loss assumption as a percentage of original pool
balance for EDML 2017-1 B.V. at 0.90% which corresponds to an
expected loss assumption as a percentage of current pool balance of
1.51%.
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 assumption
to 8% from 11.5%. for both transactions.
Increase in Available Credit Enhancement
In EDML 2017-1 B.V. and EDML 2018-1 B.V. the reserve funds can only
start to amortise down to a floor once, among other conditions, the
current pool balance drops below 50% of the original pool balance,
and have therefore not amortized yet since closing.
In EDML 2017-1 B.V. the credit enhancement for the Class B, C, D,
and E notes increased to 14.0%, 9.0%, 7.3% and 5.6% from 12.3%,
7.9%, 6.4%, and 4.9% respectively since the last rating action in
September 2021. In EDML 2018-1 B.V. the credit enhancement for the
Class B, C, D, E, F and G notes increased to 12.2%, 9.1%, 7.1%,
6.2%, 5.5% and 4.4% from 10.9%, 8.1%, 6.3%, 5.6%, 4.9% and 4.0%
respectively since the last rating action in September 2021.
The principal methodology used in these ratings was "Moody's
Approach to Rating RMBS Using the MILAN Framework" published in
July 2022.
The analysis undertaken by Moody's at the initial assignment of a
rating for an RMBS security may focus on aspects that become less
relevant or typically remain unchanged during the surveillance
stage.
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: (i) performance of the underlying collateral that
is better than Moody's expected; (ii) an increase in available
credit enhancement; and (iii) improvements in the credit quality of
the transaction counterparties.
Factors or circumstances that could lead to a downgrade of the
ratings include: (i) an increase in sovereign risk; (ii)
performance of the underlying collateral that is worse than Moody's
expected; (iii) deterioration in the notes' available credit
enhancement; and (iv) deterioration in the credit quality of the
transaction counterparties.
SPRINT BIDCO: Moody's Assigns First Time 'B1' Corp. Family Rating
-----------------------------------------------------------------
Moody's Investors Service has assigned a first time B1 corporate
family rating and B1-PD probability of default rating to Sprint
BidCo B.V. (Sprint or Accell), the parent company of
bike-manufacturer Accell Group, as well as a B1 instrument rating
to the proposed EUR700 million guaranteed senior secured Term Loan
B due 2029 and new EUR180 million guaranteed senior secured
Revolving Credit Facility (RCF) due 2029 borrowed by Sprint BidCo
B.V. to finance the public-to-private acquisition of Accell Group
N.V. by a consortium of investors led by Kohlberg Kravis Roberts
(KKR).
The outlook on all ratings is stable.
RATINGS RATIONALE
Accell's B1 CFR reflects the company's sustained revenue growth and
resilient operating performance supported by the strong demand for
bicycles, boosted by the coronavirus pandemic and by positive
market fundamentals. Furthermore, the rating is underpinned by
Moody's expectations that Moody's-adjusted debt/EBITDA will reduce
below 5.0x over the next 12-18 months supported by earnings'
growth. Starting Debt/EBITDA of 5.6x pro-forma for the new
transaction and based on the last twelve months period (LTM) ending
March 2022 positions the rating initially weakly in the B1 rating
category.
Accell's B1 CFR also reflects the company's: (1) leading market
position in the fragmented European market for bicycles, especially
in the e-bikes segment; (2) strong positive market fundamentals
underpinned by growing penetration of e-bikes and cargo-bikes,
partly fueled by government incentives; (3) a broad portfolio of
well-known local brands with good geographical diversification and
strong historical heritage; (4) track record of margin expansion
with relatively high flexibility of passing prices increases to end
costumers; (5) good liquidity profile supported by a sizable
committed revolving credit facility; (6) sizeable equity injection
by the sponsor.
Conversely, Accell's CFR is constrained by: (1) exposure to
discretionary nature of demand, albeit somewhat mitigated by
government subsidies; (2) 5.6x starting leverage, which is high for
the current rating and provides no capacity for operational
underperformance compared to Moody's expectations; (3) high
supplier concentration with 50% of total cost of materials supplied
by 3 companies; (4) execution risk related to the company's
strategic initiatives to increase efficiency in the value chain and
implementation of an omnichannel sales model which should help to
sustain operating margins at least at the 2021 level in 2022 and
further improvement thereafter; (5) historically volatile free cash
flow generation mainly due to swings in working capital; (6)
increased competitive pressure from new entrants in the
fast-growing e-bike segment.
RATING OUTLOOK
The stable outlook reflects the expectation that the strong demand
for e-bikes will support the reduction in gross leverage to below
5.0x in Moody's-adjusted debt/EBITDA in next 12-18 months.
Moody's expects that demand for bikes will hold up in a weaker
economic environment and that supply chain shortages will resolve
over the next 12-18 months supporting earnings growth. Furthermore,
Moody's expects that margin will soften in 2022 due to inflationary
pressure on costs but will return to expand from 2023 onward
following the implementation of the strategic initiatives. The
stable outlook also assumes no debt funded acquisition or
shareholder distribution.
ESG CONSIDERATIONS
Accell's rating reflects its private equity ownership and
consequent delisting from equity capital markets, which decreases
public scrutiny over the operations of the company and is generally
associated with a more aggressive financial policy and tolerance of
prolonged periods of higher leverage. However, Moody's recognize
the high straight equity contribution from the sponsor and moderate
opening leverage.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Upward pressure on the rating could develop if Accell's (1) Moody's
adjusted debt / EBITDA improves towards 4.0x on a sustained basis
in the next 12-18 months; (2) continued improvement in its
operating margin, as defined by Moody's, to above 10%; (3) track
record of sustained positive free cash flow generation; (4)
building a track record of balanced financial policy.
Downward pressure on Accell's rating could develop if (1) Moody's
adjusted leverage fails to improve to well below 5.5x in the next
12-18 months; (2) operating margin deteriorates to below 6% and (3)
further working capital build-up results in a prolong period of
negative free cash flow, which would result in a weakening of the
company's liquidity profile.
LIQUIDITY RPOFILE
Accell's liquidity profile is good, supported by EUR35 million in
cash, pro-forma for the transaction, and a fully available EUR180
million revolving credit facility maturing in 2029. Moody's expects
the company to generate break-even free cash flow over the next 18
months.
The company will be subject to one springing covenant of debt /
EBITDA which is tested annually when more than 40% of the RCF is
drawn. The test level is set at 8.25x. Moody's expect the company
to remain in compliance with the covenant over the next 12-18
months.
STRUCTURAL CONSIDERATIONS
The B1 instrument ratings of the new proposed EUR700 million Term
Loan due 2029 and the new proposed EUR180 million RCF due 2029 is
aligned with the CFR, reflecting the absence of no additional debts
other than trade claims, pensions, and lease rejection claims in
Accell's capital structure.
The company's PDR rating of B1-PD is also in line with the CFR. The
PDR reflects the use of a 50% family recovery rate resulting from a
debt package without financial covenant and a security package that
is limited to share pledges. Further, the instruments benefit from
guarantees from material subsidiaries representing at least 80% of
consolidated EBITDA.
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Consumer
Durables published in September 2021.
CORPORATE PROFILE
Headquartered in Heerenveen, The Netherlands, Accell Group N.V. is
the largest bicycle manufacturer in Europe and holds the market
leader position in e-bikes which represent around 54% of its
revenues in 2021. The other market segments in which it operates
are: (i) parts and accessories (P&A, 30% of revenues), second
largest European player, (ii) traditional bikes (T-bikes, 12%) and
(iii) cargo (4%). The company generates more than 70% of its
revenues in Central Europe and Benelux (42% and 30% respectively),
with Germany being its largest market (c. 40% of revenues). Other
markets include the UK and Ireland, South Europe and the Nordics
and account for around 28% of total turnover.
The company owns 12 of the most well-known national and
international brands including Haibike, Lapierre and Ghost.
===============
P O R T U G A L
===============
BANCO COMERCIAL PORTUGUES: S&P Affirms 'BB/B' ICRs, Outlook Stable
------------------------------------------------------------------
S&P Global Ratings affirmed its 'BB/B' long- and short-term issuer
credit ratings on Banco Comercial Portugues S.A. (BCP). The outlook
remains stable.
In addition, S&P affirmed its 'BBB-/A-3' resolution counterparty
ratings on the bank and its issue ratings on the bank's debt.
On July 7, 2022, the Polish government announced its decision to
grant credit holidays to first residence mortgage borrowers to ease
the effects of high inflation and rising rates.
As a result, Banco Comercial Portugues S.A.'s (BCP) Poland-based
subsidiary, Bank Millennium S.A. (not rated), will report statutory
losses, resulting in noncompliance with minimum regulatory capital
ratios and triggering the activation of its recovery plan.
Although this will somewhat harm BCP's 2022 group profitability and
capital position, S&P expects the reduction of the risk-adjusted
capital (RAC) ratio to be modest at about 20 basis points (bps).
The ratings affirmation reflects that BCP should have a sufficient
buffer to accommodate extraordinary costs on its Polish business
and maintain a RAC ratio comfortably above the 5% threshold. S&P
said, "We think the overall effect of the credit holidays in Poland
should have a modest effect on BCP's consolidated profitability and
capitalization. The affected portfolio of Polish zloty
(PLN)-denominated mortgages represents about 43% of Polish loans
and 13% of consolidated loans. Even under the hypothetical scenario
in which the participation rate in the credit holidays scheme in
Poland was 100%, BCP would not be loss-making for the year. That
said, we anticipate that its return on average common equity could
reduce somewhat to about 3.0%-3.5% (compared with our previous
expectation of 3.7%-4.1%), including not only the impact of the
credit holidays but also the write-down of the goodwill related to
the Polish subsidiary. Although the measure could wipe out up to
28% of the Polish subsidiary's capital base and drive its Tier 1
ratio below its 10.84% regulatory minimum requirement, we expect it
to have a modest 18-23bps impact on the parent's consolidated RAC
ratio. We therefore expect BCP's RAC ratio will hover at 6.3%-6.8%
over the next 12-18 months, sustainably above the 5% threshold for
our existing moderate assessment."
S&P said, "We understand Bank Millennium's recovery plan does not
contemplate parental assistance. Based on our calculations, Bank
Millennium's shortfall would be on Tier 1 capital, up to a maximum
of PLN791 million (EUR166 million), equivalent to about 1.6% of its
regulatory risk-weighted assets (RWAs). We expect Bank Millennium
will address its capital shortfall primarily via RWA reduction
rather than a capital increase, since the latter could be
challenging amid current market conditions and government
interventions in the Polish banking sector. Bank Millennium's
activation of the recovery plan should not trigger any specific
actions at the parent level. We think BCP will likely continue
building up capital as it targets a 12.5% Common Equity Tier 1
(CET1) ratio by 2024, compared with 12.0% at end-March 2022, pro
forma for the exclusion of structural foreign exchange positions
held to hedge capital ratios.
"We affirmed our ratings on BCP's additional tier 1 (AT1)
instrument because we expect management to take measures to restore
the inevitable tightening of the maximum distributable amount (MDA)
buffer.Although BCP has historically run its capital ratios with
tighter headroom against MDA thresholds compared with European
banks, these buffers might become even tighter during 2022. That
said, we expect the tightening to be temporary and we therefore do
not see an incremental risk of coupon nonpayment on its AT1
instrument, which at 'CCC+' already indicates a relatively high
nonpayment risk. At-end March 2022, BCP's MDA headroom on its Tier
1 ratio stood at 150bps, with its Tier 1 ratio standing at 12.6%.
The credit holidays imposed in Poland could reduce headroom by
30-35bps (about EUR140 million-EUR160 million), but we understand
the bank has levers to accommodate the impact. For example, BCP's
regulatory capital should benefit by 50bps from the pending
supervisory decision to immunize regulatory ratios against changes
in exchange rates. This, coupled with other smaller
capital-enhancing items, should restore BCP's MDA buffer over Tier
I capital to about 200bps by end-2022, in our view. If that did not
happen, and the Tier 1 MDA headroom fell below 150bps, pressure
would build on our AT1 rating. MDA buffers on CET1 and total
capital are more comfortable.
"BCP benefits from a solid retail franchise in Portugal and
stronger efficiency than peers, which, coupled with problem loan
de-risking in recent years, should support the resiliency of its
financial profile.Despite the more complex economic environment and
sizable litigation risks and government-imposed costs arising from
the Polish business, we anticipate that BCP's domestic
franchise--which accounts for 72% of group's assets--will remain
solid and continue benefitting from stronger efficiency than
peers'. We expect limited reputational or contagion risks for the
group from the stress at its Polish subsidiary.
"We estimate the bank's cost-to-income ratio will hover at about
40%-45% by end-2023 compared with about 60% for peers, and its
solid pre-provision income capacity should allow the bank to better
weather the absorption of additional growth and some pressure on
its Polish business. Pre-provision operating income represented
1.5% of average assets over the past five years on average,
compared with 0.9% for its domestic and international peers. The
effects of the military conflict in Ukraine--primarily higher
energy costs, inflation, and higher cost of debt--will hamper the
private sector. However, we think the bank should be able to
withstand some asset quality erosion at the current rating level.
"The stable outlook reflects our expectation that the bank should
be able to defend its solid retail franchise in Portugal and
capitalization over the next 12-18 months, despite the secondary
effects from the geopolitical conflict in Ukraine and unpredictable
market interventions in Poland. We expect BCP will gradually
strengthen its domestic profitability further, while maintaining
better-than-peers' efficiency. Overall, we anticipate that the
extraordinary costs on its Polish operations will have a manageable
effect on BCP's capitalization and capital will remain moderate,
with our RAC ratio moderately growing to 6.3%-6.8% by end-2023.
"At the same time, we anticipate that the bank's asset quality
could deteriorate somewhat over the next 12-18 months, particularly
on some of its Polish mortgage loans that are facing much higher
rates, and some segments of its corporate loans that are more
vulnerable to rising energy prices. That said, we think such a
deterioration should be controllable and in line with peers, which,
in tandem with the ongoing clean-up of the legacy portfolio, will
allow BCP's nonperforming exposure ratio to remain below 5.2%.
"We could lower the rating if BCP's litigation risks and
extraordinary costs in Poland became worse than we currently
expect, more adversely impacting BCP's consolidated capital
position. We could also lower the rating if, in addition to risks
in Poland, the economic environment deteriorated more than we
anticipate and the bank's domestic operational performance were
less resilient than expected.
"Additionally, we could lower the rating on the 'CCC+' AT1
instrument if, contrary to our base-case expectation, the bank
failed to restore its MDA buffer sustainably above 150bps. This
could happen due to further intervention by the Polish government
or the bank's inability to activate some of its capital levers.
Equally, tighter available distributable item (ADI) buffers, which
at end-2021 covered coupon payments by more than 12x, could put
pressure on the rating.
"Although unlikely given the significant uncertainty surrounding
the macroeconomic outlook, we could consider raising the rating if
the bank's performance weathered the likely harsher economic
environment, maintaining its efficiency and earnings generation
capacity advantages. An upgrade would also be contingent on BCP
absorbing the one-off costs of its Polish business, with any
potential additional detrimental measures by the Polish government
having a limited effect on the bank."
ESG credit indicators: E-2, S-2, G-2
===========
S W E D E N
===========
RAMUDDEN HOLDCO: S&P Assigns 'B' Long-Term ICR, Outlook Stable
--------------------------------------------------------------
S&P Global Ratings assigned its 'B' long-term issuer credit rating
to Ramudden Holdco AB and at the same time affirmed the 'B'
long-term issuer credit rating on AVS Group GmbH, the issuer of the
rated debt.
S&P said, "We also affirmed the 'B' issue rating and maintained the
'3' recovery rating on AVS Group GmbH's EUR785 million senior
secured TLB, including the recently issued EUR100 million fungible
add-on, and EUR140 million senior secured revolving credit facility
(RCF), reflecting our expectation of meaningful recovery (50%-70%;
rounded estimate 55%) in the event of a default.
"At the same time, we withdrew the issuer credit rating on
intermediate holding company AVS Holding GmbH, in line with our
criteria and standard operating procedures, given it is no longer
the entity at which WZS Group consolidates its financial
statements.
"The stable outlook reflects that we expect WZS Group will generate
solid organic growth in 2022 and manage inflationary pressure
through cost-efficiency measures and price increases, maintaining
EBITDA margins above 20%, while deleveraging toward 7.0x (including
preferred shares as debt) and generating positive free operating
cash flow (FOCF)."
"We now consider Ramudden, the Sweden-based holding of Work Zone
Safety Group (WZS Group), the ultimate parent, sitting above AVS
Holding GmbH and AVS Group GmbH, with our view of the group's
credit quality unchanged."
This follows WZS Group's recent EUR100 million term loan B (TLB)
add-on completed in May 2022, alongside which WZS Group amended its
loan documentation to clarify that Ramudden Holdco AB had become
the entity at which the group consolidates its accounts.
WZS Group is now issuing its consolidated financial statements at
the level of Ramudden Holdco AB, a holding company sitting above
AVS Holding GmbH. S&P rated former consolidating holding company
AVS Holding GmbH starting in September 2019, as the parent company
of the German and Belgian traffic safety services provider group
AVS/Fero, and equalized the rating on AVS Group GmbH, the debt
issuer, with that on AVS Holding. The AVS/Fero group completed its
merger with Sweden-based Ramudden and U.K.-based Chevron at the end
of 2020, to become the WZS Group, and the merged entity has
reorganized its structure and will now issue the group's
consolidated accounts at the level of Ramudden Holdco AB, which
sits above AVS Holding GmbH and owns 100% of its share capital. In
line with S&P's criteria and standard operating procedures, it now
considers Ramudden Holdco AB the top entity in the structure that
is relevant to its analysis of the group's credit quality. Thus,
S&P equalizes its rating on AVS Group GmbH, an indirectly wholly
owned subsidiary of Ramudden Holdco AB, with that on Ramudden
Holdco AB.
WZS Group has recently upsized its existing senior secured TLB
facility to EUR685 million and its RCF to EUR140 million, to fund
additional acquisitions. S&P said, "We believe the planned
acquisitions conform with WZS Group's strategy to enlarge its
product offering and diversify geographically, expanding its market
position in Europe. WZS Group operates in the very fragmented
outsourced temporary traffic management market, where it has been
playing a consolidating role by pursuing bolt-on acquisitions to
supplement its market position and service coverage density in
existing jurisdictions. We believe this external growth strategy
supports the group's scale and diversification. However, it
represents an aggressive financial policy, since acquisitions tend
to be debt funded. It also creates additional costs with some
integration risk, mitigated by the relatively small size of the
target companies to be acquired (Swedish krona [SEK] 10
million-SEK20 million or EUR1 million-EUR2 million) of EBITDA per
target, and by the group's decentralized integration approach."
S&P said, "The group's operating performance was in line with our
expectations in 2021, and conditions have improved in previously
challenging markets, namely Germany and Belgium. In Germany, delays
and difficulties in transferring responsibilities to plan and award
infrastructure projects from local state agencies to Autobahn GmbH,
a federally owned entity, have been largely resolved, such that
tendered volumes for road projects in the country have started
increasing significantly. In fact, tendered volumes in
first-quarter 2022 were 2.4x higher than in first-quarter 2021.
Furthermore, although the group experienced pandemic-related
difficulties in 2021, resulting in lower activity across its
markets, COVID-19 restrictions have gradually eased and we
anticipate no further pandemic-related disruption to the group's
operations in 2022. In addition, we expect the group can manage
inflationary pressures from labor, energy, and raw material prices
through cost-efficiency measures and price increases. The WZS Group
now operates as one organization; it is building a groupwide
management framework and reorganizing its resources--such as
digital capabilities--to support its growth strategy, which could
also give rise to additional costs.
"We expect leverage to remain elevated in 2022 following the
debt-funded acquisitions.We expect acquisitions will continue in
2022, in line with previous years, also because the group has a
solid target pipeline. Despite the recent additional debt issuance,
we expect that leverage (debt to EBITDA) will decrease to about
7.2x at year-end 2022 from 9.9x at year-end 2021, on the back of
organic growth and the integration of recent and future
acquisitions. Our adjusted leverage ratio includes preferred shares
that we treat as debt under our noncommon equity criteria;
excluding this instrument, the projected cash-paying debt-to-EBITDA
ratio would be about 5.7x in 2022. Given that we anticipate a more
difficult macroeconomic outlook for 2022-2023 that could impair
governments' budgets for infrastructure works and delay new
projects, we will continue to monitor the group's operating
performance, although we believe WZS Group's expanding geographical
and segment diversification support the resilience of the business.
"The stable outlook indicates that we expect WZS Group will
generate solid organic growth in 2022 and manage inflationary
pressure through cost-efficiency measures and price increases,
maintaining EBITDA margins above 20%, while deleveraging toward
7.0x (including preferred shares as debt) and generating positive
FOCF.
"We could lower the rating if WZS Group's performance lagged our
forecasts and the group experienced a significant drop in EBITDA
margins. This could be caused by delays in new projects due to
budget restrictions associated with a potential macroeconomic
recession, acceleration of cost inflation, higher-than-expected
profit volatility, and exceptional costs associated with
acquisitions, and would result in FOCF turning negative for a
prolonged period. We could also consider a negative rating action
if the group faced heightened liquidity pressure or saw the cash
interest coverage ratio deteriorating to below 2.0x. In addition,
we could lower the rating if the group undertook material
debt-financed acquisitions or cash returns to shareholders,
resulting in materially higher leverage than we currently project.
"We see limited near-term upside potential for the rating, given
WZS Group's high adjusted leverage and relatively aggressive
financial policies. However, we could consider raising the rating
if EBITDA growth was stronger than expected, such that our adjusted
leverage ratio fell and stayed below 5.0x, combined with solid and
stable positive FOCF. To result in a higher rating, these improved
credit metrics would also have to be consistent with our view of
the long-term financial policy."
ESG credit indicators: E-2, S-2, G-3
S&P said, "Governance is a moderately negative consideration in our
credit rating analysis of Ramudden Holdco AB and WZS Group. Our
assessment of the group's financial risk profile as highly
leveraged reflects corporate decision-making that prioritizes the
interests of the controlling owners, in line with our view of the
majority of rated entities owned by private-equity sponsors. Our
assessment also reflects generally finite holding periods and a
focus on maximizing shareholder returns."
===========================
U N I T E D K I N G D O M
===========================
ALMA DE CUBA: Owed More Than GBP9MM at Time of Administration
-------------------------------------------------------------
Jon Robinson at BusinessLive reports that a well-known Liverpool
venue owed more than GBP9 million when it collapsed into
administration, new documents have revealed.
Alma De Cuba is a restaurant, bar as well as private hire and
events venue based in the grade II-listed former St Peters Church
in Seel Street.
It first opened in 2005 and became a celebrity favourite with
Liverpool FC holding their players' party at the venue following
the team's 2006 FA Cup win.
According to BusinessLive, newly-published documents from
administrators Kroll revealed the company faced a winding-up
petition from HM Revenue and Customs (HMRC) due to "unpaid
historical and current tax liabilities". That prompted its secured
creditor to demand its outstanding debt of more than GBP2.7 million
to be repaid, BusinessLive notes.
The business did not challenge the winding-up petition and the
secured creditor appointed Kroll as administrator of Alma De Cuba
in May 2022, BusinessLive states.
Up until then, the venue was operated by UK Accommodation Ops
Limited (UKAOL) under a management agreement with the company,
BusinessLive says.
Administrator Kroll said Avensis Hospitality is engaged by UKAOL to
look after the day-to-day operations which will continue until
further notice, BusinessLive notes.
According to newly-published documents from Kroll, Alma De Cuba
owed more than GBP2.7 million to its secured creditor and over
GBP6.6 million to unsecured creditors, BusinessLive states.
Kroll's document reveals that there is expected to be enough funds
to pay back the secured creditor but not anyone else, according to
BusinessLive.
Six parties have registered their interest to buy the business and
its assets but a date for preliminary offers has not yet been set,
BusinessLive discloses.
All 48 employees have been retained to assist UKAOL trade the
business while it is in administration and are expected to transfer
to the new owner if a sale is completed, BusinessLive says.
ALTERA INFRASTRUCTURE: Fitch Affirms & Withdraws 'CCC+' LT IDR
--------------------------------------------------------------
Fitch Ratings has affirmed and withdrawn Altera Infrastructure
L.P.'s (Altera) 'CCC+' Long-Term Issuer Default Rating and
'CCC-'/'RR6' senior unsecured rating. The Rating Outlook is
Stable.
Altera's ratings have been withdrawn for commercial reasons.
KEY RATING DRIVERS
Near-Term Financing Needs: Altera Shuttle Tankers L.L.C.
(ShuttleCo) has an unsecured bond coming due in August 2022. The
company has raised and repaid roughly $180 million of the $250
million due next month. The remaining $70 million represents a
near-term financing need. Fitch believes ShuttleCo will be able to
repay the remaining balance with cash on hand. Additionally, Altera
has $276 million of unsecured notes due in July 2023. Fitch would
view the successful refinancing or repayment of these notes as
positive for the credit.
The Need to Redeploy, or Otherwise Extract Value: Altera currently
has two floating production storage and offloading (FPSO) vessels
in lay-up and has a large FPSO vessel in decommissioning. This is
after the company sold the Varg FPSO vessel earlier in 2022 for $22
million. To reduce leverage and bring metrics more in line with
sustainability, Altera needs to sign contracts for
redeployment/upgrade and redeployment or sell its currently laid-up
and/or soon-to-be-laid-up FPSO vessels for sufficient value.
The market for FPSO vessels is supportive right now, with expected
demand outpacing current supply and newbuilds taking multiple years
to construct, and Fitch recognizes real opportunities for the Knarr
and Voyageur vessels to be redeployed. Until contracts are signed
for these vessels, Fitch's assumptions remain that the Voyageur is
in lay-up over the forecast period and the Knarr is not redeployed
or sold after the current contract conclusion. Contract agreements
or sale for sufficient value would improve Altera's credit profile,
in Fitch's view.
Significant Structural Subordination: Altera's capital structure
has a significant amount of secured debt at the vessel level, as
well as intermediate holdco debt, making Altera-level debt
structurally subordinate to over $3 billion in subsidiary-level
debt. The structurally superior debt encumbers nearly all vessels
and holds first-lien secured interests in those vessels, or equity
interests in the subsidiaries holding the vessels in the cases of
the intermediate holdcos. The company receives distributions from
two non-consolidated joint ventures (JVs), which had just under
$230 million in debt outstanding at March 31, 2022 (Altera's
proportionate share). Vessel operating performance difficulties or
cash flow disruptions could negatively affect the ability to
service obligations at the Altera level.
Stability Through Contracts: The FPSO, shuttle tanker and FSO
businesses operate under long-term, fixed-fee contracts, for the
most part. FPSO and FSO, as well as time and bareboat charter
shuttle tanker contracts are akin to take-or-pay contracts in the
pipeline space and provide Altera with very good revenue
visibility. While the contracts of affreightment (COA) have volume
uncertainty, Altera's historical utilization has been very
consistent, supporting steady expected future cash flows. The
majority of Altera's businesses, outside of the above discussed
laid-up FPSO vessel recontracting risks, are covered by a
combination of these supportive contracts at present, and Fitch
views that revenue base as stable. There has been and likely will
continue to be some variability in results as these contracts
expire and need to be renewed/extended or vessels need to be
redeployed (or sold).
Strong Counterparties: Fitch estimates that investment-grade
customers make up approximately 70% of Altera's revenue. Given the
high percentage of strong credit quality counterparties, Altera's
risk of lost revenue due to customer default is remote. This risk
is further mitigated by the ability to redeploy shuttle tankers and
towage vessels relatively quickly without incurring significant
additional costs.
Supportive Sponsor: Fitch believes Brookfield to be a supportive
sponsor of Altera. Financial support is most recently evidenced by
the exchange transaction, where Brookfield agreed to forego a
cash-paid coupon for a non-cash PIK coupon on nearly $700 million
in debt, to support Altera's ongoing liquidity needs. Earlier in
2021, Brookfield extended the maturity and increased the amount
available under unsecured credit facilities it provided Altera.
Brookfield made a large equity investment in 2017 and
repurchased/cancelled expensive preferred units. Fitch views the
potential added flexibility afforded by being a Brookfield
controlled/owned entity as being relatively positive for Altera's
credit profile. However, Altera's ratings do not reflect any
explicit notching from Brookfield.
DERIVATION SUMMARY
Altera is unique among Fitch's publicly rated Midstream coverage
given its niche marine focus. From an operating perspective,
Altera's FPSO and shuttle tanker segments compare to midstream
pipeline transportation and gathering assets. Furthermore,
operations within Altera's FSO segment compare with more
conventional oil and liquids storage peers. Roughly 70% of Altera's
revenue is contracted under intermediate to long-term, take-or-pay
like contracts with large counterparties. Approximately 15% of the
company's revenue comes from shuttle tankers operating in the North
Sea under volume-exposed, intermediate-term COA.
Altera's contract tenor compares less favorably to higher rated
midstream energy peer Cheniere Energy Partners, L.P. (CQP;
BB+/Stable). Additionally, CQP benefits from generating essentially
all of its revenue from take-or-pay style contracts. Fitch views
CQP's undiversified cash flows in liquefied natural gas (LNG)
export as a stronger business than Altera's offshore offerings,
and, as the most significant player in the U.S. LNG export market,
CQP features size and scale advantages.
Fitch estimates that roughly 70% of Altera's consolidated revenue
comes from investment-grade counterparties. This is consistent with
several of Fitch's 'B' category rated midstream-focused service
providers, where investment-grade counterparty exposure ranges from
40% to 80%. Altera's counterparty credit profile compares less
favorably with CQP, where counterparty exposure is entirely
investment grade.
Debt held at Altera is structurally subordinate to a significant
amount of operating subsidiary and intermediate holdco level debt,
both on a secured and unsecured basis, similar to CQP. Leverage at
Altera, on a consolidated basis (defied as total consolidated debt
inclusive of 50% equity treatment of preferred equity and exclusive
of non-consolidated JV debt divided by consolidated EBITDA
inclusive of cash distributions from non-consolidated JVs), is
expected to be above 7.0x in 2022, due in large part to an expiring
FPSO contract, higher than CQP.
KEY ASSUMPTIONS
Fitch's Key Assumptions Within Its Rating Case for the Issuer:
-- Oil production/development in the North Sea, offshore Brazil
and off the East Coast of Canada consistent with the Fitch
price deck;
-- Currently contracted shuttle tanker, FPSO and FSO vessels
produce cash flows consistent with contract parameters over
the respective contract terms;
-- FPSO vessels currently in lay-up remain unutilized over the
forecast period or until sold;
-- The Knarr, Voyageur Spirit, and Piranema Spirit FPSO vessels
are not redeployed over the forecast period and do not garner
enough value through sale to repay related debt;
-- Utilization rates in the North Sea shuttle tanker COA pool to
remain near 80%;
-- No preferred share dividend payments are made over the
forecast period;
-- Overall indebtedness decreases from current levels over the
forecast period, driven largely by amortization of vessel-
level debt;
-- Altera successfully refinances its major FPSO and shuttle
tanker vessel-level debt to better match current contract
expirations and/or after signing new contracts.
KEY RECOVERY RATING ASSUMPTIONS
The recovery analysis assumes that Altera Infrastructure L.P. would
be reorganized as a going-concern (GC) in bankruptcy rather than
liquidated.
Fitch assumes a 10% administrative claim.
In its recovery analysis, Fitch assumes a mid-cycle GC EBITDA of
approximately $375 million and a default due to an inability to
refinance unsecured debt. Altera's GC EBITDA assumption reflects a
lower overall activity level in the regions where Altera operates
due to sustained low oil prices. The current GC EBITDA estimate is
consistent with the previous recovery exercise completed in
September 2021.
An enterprise value multiple of 6x is used to calculate a
post-reorganization valuation and is in line with recent
reorganization multiples for the energy sector, including three
cases in the last five years from the midstream sector in the U.S.
RATING SENSITIVITIES
Rating Sensitivities are not applicable, as the ratings have been
withdrawn.
BEST/WORST CASE RATING SCENARIO
International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.
LIQUIDITY AND DEBT STRUCTURE
Limited Liquidity: Altera's liquidity consists of cash reserves of
$171 million as of March 31, 2022. The terms of certain financings
at subsidiaries of Altera cause the $171 million of cash to be
deemed by Fitch as not entirely readily available. Fitch calculates
readily available cash at the Altera level to be approximately $50
million. There is presently not a revolver at the Altera-level.
Altera also has two secured revolving credit facilities at the
subsidiary level; however, these two facilities are fully drawn.
The two secured revolvers function more similarly to term loans or
mortgages, where the entire amount is borrowed upfront, and
amortizations of principal and interest are expected over the loan
life.
Ongoing maintenance capital requirements are minimal at around $20
million to $40 million per year and, along with working capital
needs, can be handled by Altera's ongoing operations, in Fitch's
view.
Altera's credit facilities contain certain financial covenants. The
company is in compliance with these covenants, and Fitch expects it
to remain in compliance with them over the forecast period.
Altera depends on the strength of the ship-finance and
fleet-finance markets. Fitch believes that Altera will be able to
refinance its subsidiary debt when due. Altera's maturity schedule
is manageable with roughly $100 million in secured debt maturing
over the next year. This is in addition to $100 million to $250
million in scheduled annual vessel-level amortization. These
obligations are serviced prior to any upstream distributions being
made to intermediate holdcos and parent entities. Fitch believes
required vessel amortization can be handled with cash generated
from operations.
ISSUER PROFILE
Altera is a limited partnership established under the laws of the
Republic of the Marshall Islands and headquartered in the UK. The
company owns and operates marine vessels that service offshore oil
producers in the North Sea, Brazil and the East Coast of Canada.
SUMMARY OF FINANCIAL ADJUSTMENTS
As per Fitch's 'Corporate Hybrids Treatment and Notching Criteria'
cross-sector criteria, Fitch treats the relevant securities for
Altera as 50% debt and 50% equity. Referenced leverage metrics are
adjusted as follows: consolidated balances and flows are used;
preferred shares are given 50% debt credit, 50% equity credit;
distributions from investees accounted for under the equity method
of accounting are included in EBITDA and equity earnings from these
entities are excluded; debt held at unconsolidated JVs is
excluded.
ESG CONSIDERATIONS
Altera Infrastructure L.P. has an ESG Relevance Score of '4' for
Group Structure due to an extremely complex group structure with
significant structural subordination, which has a negative impact
on the credit profile, and is relevant to the rating[s] in
conjunction with other factors.
Altera Infrastructure L.P. has an ESG Relevance Score of '4' for
Financial Transparency due to limited transparency on ship level
financings, which has a negative impact on the credit profile, and
is relevant to the rating[s] in conjunction with other factors.
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.
DEBT RATING PRIOR
---- ------ -----
Altera LT IDR CCC+ Affirmed CCC+
Infrastructure L.P.
LT IDR WD Withdrawn CCC+
senior unsecured LT CCC- Affirmed RR6 CCC-
senior unsecured LT WD Withdrawn CCC-
ASTON MARTIN: S&P Places 'CCC' Long-Term ICR on Watch Positive
--------------------------------------------------------------
S&P Global Ratings placed all of its ratings on U.K.-based luxury
sports car manufacturer Aston Martin Lagonda Global Holdings PLC
(Aston Martin), including the 'CCC' long-term issuer credit rating,
'CCC' issue rating on the first-lien notes, and 'CC' issue rating
on the second-lien notes, on CreditWatch with positive
implications.
The CreditWatch placement indicates the potential to upgrade the
rating on Aston Martin by up to one notch if its liquidity position
strengthens and credit metrics improve through the debt repayment.
The completion of Aston Martin's rights issue and new investment
from the Saudi Public Investment Fund (PIF) is likely to strengthen
the company's liquidity position considerably and support future
spend. S&P currently expects the rights issue and new equity
investment to close in September 2022, with Aston Martin raising a
total of GBP653 million. PIF, Saudi Arabia's state-owned investment
fund, will increase its shareholding in the group to 16.7% through
a GBP78 million equity injection, making it the second largest
shareholder behind Lawrence Stroll's Yew Tree Consortium.
Furthermore, there will be a GBP575 million rights issue, which is
underwritten, with further investment from the Yew Tree Consortium
as well as Mercedes-Benz AG, together illustrating the support for
Aston Martin from its existing shareholders.
S&P said, "With up to half of the raised financing expected to pay
down existing debt, we expect that the remainder will strengthen
Aston Martin's liquidity position. After the transaction closes and
debt is subsequently reduced, we forecast GBP500 million-GBP600
million of pro forma cash on the balance sheet. As of March 31,
2022, Aston Martin's reported cash on balance sheet was GBP404
million. The new equity will allow the company to navigate through
a challenging operating environment that has been negatively
affected by the Russia-Ukraine conflict, COVID-19 lockdowns in
China, and continued supply chain and logistics disruptions. In our
current base case, we anticipate that the company will have
sufficient liquidity for at least the next two years to continue
investing in research and development (R&D) for upcoming new model
releases, and to fund its capital expenditure requirements and
still high interest burden.
"We anticipate that Aston Martin's credit metrics should improve
through the transaction when the company repays some of its
existing debt, although cash flow generation will remain
negative.The repayment of debt through the new equity financing,
coupled with higher revenues and improving operating margins, is
likely to result in better credit metrics in 2022-2023. Aston
Martin has stated it will use up to half of the raised capital to
repay some of its existing debt, although it is not yet clear
whether this relates to the first- or second-lien debt.
"Its cash interest costs will reduce in line with the debt
reduction, leading to potentially positive funds from operations
(FFO) cash interest coverage in 2022-2023. However, at this stage
we do not consider any further upside other than a potential
one-notch upgrade, as we expect leverage to remain very high in
2022 and likely so in 2023, viewing the capital structure as
unsustainable in the long term. We note that there may be changes
to our base case once the application of the proceeds from the
transaction is clear, but we currently expect Aston Martin's debt
to EBITDA to be close to 20x in 2022. At the end of 2021, its S&P
Global Ratings-adjusted gross debt was just below GBP1.3 billion.
Our main adjustments to Aston Martin's reported debt at the end of
2021 were the addition of GBP103 million of reported lease
liabilities and a slight reduction in postretirement benefit
obligations. We adjust Aston Martin's reported EBITDA mainly for
capitalized R&D costs, which totaled GBP178.2 million in 2021. We
expect FFO cash interest cover to be 0.0x-0.5x in 2022, increasing
toward 1.0x in 2023. Furthermore, we forecast Aston Martin's free
cash flow generation to remain deeply negative for the next two
years, below negative GBP200 million in 2022, as significant levels
of capital expenditure and R&D are still needed to develop new
technologies and vehicle architecture for new models."
CreditWatch
S&P said, "We aim to resolve the CreditWatch placement when we have
clarity on how the proceeds from the transaction will be used,
which we expect to be in the third quarter of 2022. We will update
our base case assumptions following the release of the group's
half-year 2022 results." The CreditWatch placement represents the
potential to upgrade Aston Martin by up to one notch if its
liquidity position strengthens and credit metrics improve after the
debt repayment, and depending on if its operating performance
improves with rising wholesales, revenues, and profitability.
Aston Martin designs, manufactures, and sells high-performance
luxury sports cars, as well as related parts and accessories. It
markets its products worldwide through a network of retailers, and
its revenue is well diversified geographically. The group was
incorporated in 2008 and is headquartered in Warwickshire, the U.K.
In 2018, Aston Martin was listed on the London Stock Exchange. The
group generated GBP1.095 billion of revenue in 2021.
ESG credit indicators: E-3, S-2, G-5
CANNON PROFESSIONAL: Goes Into Liquidation, Owes GBP117,528
-----------------------------------------------------------
Owen Tonks at MailOnline reports that Danny Miller's performing
arts company Cannon Professional Acting Company has been put into
liquidation with GBP117,528 of debt.
The actor, 31, left ITV soap Emmerdale last year before going on to
win the 2021 series of I'm A Celebrity . . . Get Me Out of Here!
But his foray into business was not met with the same level of
success, according to documents submitted to Companies House,
MailOnline notes.
The GBP117,528 of debt includes GBP36,991 in unpaid VAT and
GBP1,866 in unpaid PAYE and National Insurance contributions,
MailOnline states.
In addition, GBP29,691 is owed in unpaid corporation tax while
Barclays is owed GBP29,931 in a bank overdraft and GBP18,449 is
owed in a bounce back loan, MailOnline discloses.
According to MailOnline, the appointed liquidators, Cowgirl
Holloway Business Recovery, state that the company has assets worth
GBP45,300.
Set up in 2013, the business had GBP66,812 in its accounts last
year, with Danny owning 80% of the firm, MailOnline notes.
COVENTRY AND RUGBY: Moody's Affirms Ba2 Rating on GBP407.2MM Bonds
------------------------------------------------------------------
Moody's Investors Service has affirmed the Ba2 underlying rating of
GBP407.2 million of index-linked senior secured bonds due 2040 (the
Bonds) issued by Coventry and Rugby Hospital Company Plc (The)
(CRHC). The outlook was changed to negative from stable.
RATINGS RATIONALE
The change in outlook reflects the Coventry and Warwickshire
Partnership NHS Trust's (CWPT) issuance of a notice to the
Security Trustee under the terms of a Direct Agreement of its
intention to issue a partial termination notice under the project
agreement (PA) with CRHC (the Notice). The Notice is solely in
relation to CWPT's portion of the overall project, being the mental
health unit, and the PA with University Hospitals Coventry and
Warwickshire NHS Trust (UHC) in relation to the main acute hospital
is not impacted by the Notice. CWPT's payments comprises around 8%
of overall CRHC project revenue.
The rating affirmation reflects that even in a downside scenario
where CWPT proceeds to terminate its portion of the PA but pays no
termination compensation, CRHC can still meet its debt service
payments. However, under this downside scenario, CRHC will need to
utilize trapped cash and other reserve account balances. In
addition, CRHC's financial metrics would significantly weaken.
The negative outlook reflects uncertainty around the amount of
termination compensation payable by CWPT under the terms of the PA,
resulting in uncertainty around the project's long term financial
position, should CWPT terminate its portion of the PA.
The Ba2 rating reflects as positives (1) CRHC's long-term PA with
UHC, which provides predictable and stable availability-based
revenues and (2) a range of creditor protections included within
CRHC's financing structure.
The Ba2 rating reflects the following credit weaknesses (1) if the
Notice under the Direct Agreement partially terminates the project
agreement it could lead to a deterioration in projected financial
metrics, (2) ongoing fire protection remediation works at UHC's
acute hospital site, albeit they are substantially complete, (3)
CRHC's weak financial metrics with Moody's minimum and average debt
service coverage ratios (DSCRs) of 1.02x and 1.15x, respectively,
(4) an uneven DSCR profile, the smoothing of which is partly
dependent on CRHC's use of contractual cash reserving and (5) a
medical equipment services (MES) delivery obligation that is
moderately riskier than for comparable issuers.
In October 2020, CWPT claimed that the entire mental health unit
was unavailable. CWPT claimed that the site did not comply with the
PA's safety condition because of non-compliant fire doors.
Accordingly, CWPT applied 100% payment deductions and awarded very
high monthly SFPs, in excess of PA default thresholds for the
mental health unit.
In December 2021 CRHC and CWPT entered into a standstill agreement
and agreed to begin adjudication proceedings. In May 2022 an
adjudication concluded that upheld the application of SFPs. In June
2022 CWPT issued its Notice under the Direct Agreement of its
intention to terminate the PA on the basis that the PA's SFP
threshold for CWPT termination had been breached. CRHC is currently
obtaining legal advice regarding its options. CWPT has been advised
by the consultant P2G for several months.
If the PA is subsequently terminated after the required notice
period of 60 business days under the Direct Agreement, CRHC is
entitled to termination compensation if the mental health element
of the project is terminated by CWPT. The amount may be determined
(at CWPT's choice) either through retendering of the CWPT elements
of the project or through a net present value type calculation,
where any rectification costs are also factored into the
determination. Therefore, the amount of termination compensation
that CRHC would ultimately receive is uncertain.
The financing documents require compensation proceeds to be applied
in priority to prepay around 10% (corresponding to the approximate
CWPT share of the overall project) of outstanding debt. In a
downside scenario where zero compensation is received (and
therefore zero debt being repaid), CRHC's current debt service
obligations would only be supported by the UHC cash flows. In these
circumstances, Moody's estimates aggregate debt service shortfalls
of around GBP9 million over 2022 to 2025. However, these shortfalls
could be met using around GBP5.8 million of trapped cash and the
GBP15.6 million debt service reserve account (DSRA). Subsequently
DSCRs would be close to 1.0x, which is very weak.
The Bonds benefit from an unconditional and irrevocable guarantee
of scheduled principal and interest from Assured Guaranty UK
Limited (AGUK, A1 stable). The underlying rating of Ba2 reflects
the credit risk of the Bonds absent the benefit of the guarantee.
The overall rating of A1 is the higher of the underlying rating and
AGUK's rating.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING
The rating could be upgraded if (1) CWPT elects not to terminate
its part of the PA, followed by a sustained period of satisfactory
performance by CRHC at the mental health unit; (2) CRHC
successfully completes all required UHC remedial works to UHC's
satisfaction; (3) following completion of the remedial works CRHC
demonstrates a track record of adequate operational performance at
the UHC site with relationships remaining satisfactory; and (4) if
CWPT elects to terminate its part of the PA, any CWPT termination
compensation proceeds enable sufficient debt repayment such that
projected DSCR metrics do not deteriorate.
The rating could be downgraded if (1) projected DSCR metrics weaken
further following CWPT proceeding to terminate its portion of the
PA and receipt of compensation proceeds, (2) there is a
deterioration in the relationship with UHC, or (3) CRHC experiences
difficulty in completing the UHC remedial works.
The principal methodology used in this rating was Operational
Privately Financed Public Infrastructure (PFI/PPP/P3) Projects
Methodology published in June 2021.
HEATHROW FINANCE: Moody's Affirms 'Ba2' CFR, Outlook Negative
-------------------------------------------------------------
Moody's Investors Service has affirmed the Ba2 long-term Corporate
Family Rating of Heathrow Finance plc (HF). Concurrently, Moody's
has affirmed the company's Ba3-PD probability of default rating and
the B1 senior secured debt ratings. The outlook remains negative.
HF owns London Heathrow Airport (LHR) through its shares in
Heathrow (SP) Limited (HSP).
RATINGS RATIONALE
The rating action follows the publication of the Final Proposals by
the UK Civil Aviation Authority (the CAA) on the level of charges
applicable over the 2022-26 (H7) period to Heathrow Airport Limited
(HAL), the airport company owned by the HF group.
Moody's decision to maintain a negative outlook on HF reflects the
continued risks to the group's credit profile linked to the H7
final regulatory determination against the backdrop of an uncertain
economic environment, current operational challenges, and the
potential for the Final Proposals to result in a one notch lower
rating. However, the rating affirmation factors in potential for
some changes in the final regulatory determination and management
measures to strengthen the balance sheet or improve cash flows, as
well as HF's strong liquidity, such that the existing ratings could
be maintained.
On June 28, the CAA published the Final Proposals, which assume a
reduction in the level of HAL's airport charges over the H7 period,
with an average profiled price cap of GBP24.5 (2020 prices) per
passenger. This is about GBP2 higher than during the regulatory
period from 2014 to 2021, and at the low end of the range included
in the Initial Proposals published in October 2021. According to
the CAA, the reduction in the level of charges compared to the
mid-point of the Initial Proposals reflects a number of factors,
including the increase in passenger volumes forecast and the
reduction in the (real) vanilla weighted average cost of capital
(WACC) to 3.26% from 4.65% in Q6, and compared with the range of
3.6%-5.6% included in the Initial Proposals.
The CAA has introduced price profiling, which means that HAL's
charges will be higher in the early years of H7 and decrease
towards the end of the regulatory period. The profiled yield per
passenger will decrease from GBP27.39 (2020 prices) in 2022 to
GBP21.75 (2020 prices) in 2026. While the price profiling will
support cash flows in the near term and when traffic is most likely
to remain below the pre-pandemic levels, the reduction in airport
charges will put pressure on HAL's cash flow towards the end of the
regulatory period, limiting the company's ability to deleverage, in
particular as the airport is capacity constrained by a flight cap
and hence once it reaches its annual capacity its ability to
outperform regulatory assumptions will be limited.
The Final Proposals introduce a traffic risk sharing (TRS)
mechanism. Under the TRS mechanism, if passenger volumes in each
individual year are lower than those assumed by the regulator, then
HAL will have protection against lower revenues. If volumes exceed
those assumed by the CAA, then any benefits will be shared with
customers through lower airport charges. The proposed TRS mechanism
assumes that the amount of risk to be shared for that year will be
calculated as 50% of any difference up to 10% of forecast allowed
revenues and 105% of any difference above 10% of forecast allowed
revenue. Moody's notes positively that the TRS mechanism offers
some protection in the event of slower traffic recovery or any
future traffic shocks, such as those seen during the pandemic.
However, the adjustment will be subject to a two-year delay and
will be spread over ten years, which materially limits any cash
flow benefits in the near term. At the same time, traffic
outperformance in the early years will result in a reduction in
airport charges towards the end of H7, when the profiled yield per
passenger will already be lower. This could result in a weakening
of cash flows in the latter years of H7.
As part of the Final Proposals, the CAA has revised its assumptions
of operating costs, capital expenditure and commercial revenue.
However, there continues to be material differences between the
regulatory assumptions and those made by HAL in its business plan.
In particular, the CAA assumed operating costs of GBP5.9 billion
(2020 prices), which is GBP300 million less than HAL's proposals,
and capital expenditure of GBP3.6 billion (2020 prices) against
HAL's proposal of GBP4.5 billion. In the case of investments, the
regulator has, however, developed new incentives.
The Final Proposals are subject to consultation until August 9 and
the CAA will publish its Final Decision in the autumn. In this
regard, some of the regulatory assumptions may still change before
the regulatory decision is published. HAL will then have six weeks
to decide whether to appeal the final determination. If they, or
the airlines, appeal to the Competition and Markets Authority
(CMA), the regulatory outcome would only be known well into the
first half of 2023. This is because the CMA will have a maximum of
32 weeks to determine the appeal from the date the CAA publishes
its Final Decision. The CMA appeal would, in the normal course, not
suspend the implementation of the Final Decision.
The regulatory uncertainty comes in the context of improving
traffic trends as reflected in a pick up in Heathrow airport's
passenger volumes to around 83% of pre-pandemic levels in June
alone, when the airport handled close to 6 million passengers.
However, the increase in traffic has brought operational challenges
given staff shortages across the aviation industry as a whole,
including at the airport but also airlines and ground handlers.
This prompted HAL to introduce a cap of 100,000 departing
passengers a day until September 11. Since July and August are
typically the busiest months for the airport, the cap will limit
recovery in Heathrow airport's traffic this year. Post summer
season, there is still uncertainty around traffic levels given
worsening macroeconomic conditions, cost of living pressures,
uncertainty around geopolitical tensions and the threat of
increasing number of COVID cases.
Against this backdrop, HF's financial profile will depend not only
on the final determination, but also traffic evolution, the
company's ability to deliver cost efficiencies and grow commercial
revenue, as well as future financial policies, including for the
HSP group, on whose cash flows HF is reliant for its debt service.
More generally, HF's Ba2 CFR continues to reflect (1) its ownership
of LHR, which is one of the world's most important hub airports and
the largest UK airport; (2) its long established framework of
economic regulation, although with uncertainty around the future
level of charges pending final regulatory determination; (3) LHR's
resilient traffic characteristics before the pandemic; (4) its
highly-leveraged financial profile; (5) the features of the HSP
secured debt financing structure which puts certain constraints
around management activity, together with the protective features
of the HF debt which effectively limit HF's activities to its
investment in HSP; and (6) the group's strong liquidity.
HF's B1 senior secured rating reflects the structural subordination
of the HF's debt in the HF group structure versus the debt at HSP.
The rating positively reflects the company's strong liquidity
position and Moody's expectation that the HSP group will continue
to be able to upstream cash flows under the terms of its debt
structure.
LIQUIDITY AND DEBT COVENANTS
As of end-May 2022, the HF group held GBP2.3 billion of cash on
balance sheet, of which GBP309 million at the HF level. HSP also
had GBP1.15 billion availability under credit facilities due in
November 2023. Following the upstream of GBP1 billion of
distributions from HSP, HF's cash balance increased to GBP1.3
billion as of end-June 2022, which provides for an excellent
liquidity in the context of its debt service requirements that
amount to around GBP110 million per year. HF's next debt maturity
of GBP300 million is in March 2024.
HF's debt documentation includes two covenants - Group Interest
Cover Ratio (ICR) of 1.0x and Group RAR, calculated as net
debt/regulated asset base (RAB), of 92.5% as events of default. In
addition, the group's debt documentation includes covenants at the
level of HSP. Since the start of the pandemic, HF has received a
covenant waiver with respect to its Group ICR ratio twice. In
addition, the company's gearing covenant was temporarily relaxed.
Management expects to be able to comply with its covenants at HF at
the next testing date as of end-December 2022 as well as at the HSP
group.
RATIONALE FOR NEGATIVE OUTLOOK
The negative outlook reflects the continued risks to HF's credit
profile linked to the H7 final regulatory determination against a
backdrop of uncertain economic environment and traffic recovery
prospects.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Given the negative outlook, upward rating pressure on HF's ratings
is unlikely in the near term. The outlook could be changed to
stable if there was greater clarity around the evolution of the
group's credit metrics, with good headroom against the covenants,
and the group's liquidity remained strong.
Positive rating pressure would only develop if the group's
financial profile and key credit metrics were to sustainably
strengthen, leading to the restoration of an appropriate headroom
under its covenants and an adjusted interest cover ratio (AICR)
consistently higher than 1.0x, while continuing to maintain a good
liquidity profile.
Downward pressure on HF's ratings could develop if (1) the group's
headroom under event of default financial covenants were to reduce
or the group faced a risk of extended covenant breaches; (2) the
HSP group's ability to upstream cash were significantly reduced; or
(3) there were concerns about the group's or the company's
liquidity.
The principal methodology used in these ratings was Privately
Managed Airports and Related Issuers published in September 2017.
The only asset of HF is its shares in HSP, a holding company which
in turns owns the company that owns LHR, Europe's busiest airport
in terms of total passengers before the pandemic. HF is indirectly
owned by Heathrow Airport Holdings Limited (HAH). HAH is ultimately
owned 25% by Ferrovial S.A. (a Spanish infrastructure &
construction company), 20% by Qatar Holding LLC (a sovereign wealth
fund), 12.62% by Caisse de depot et placement du Quebec (a pension
fund), 11.2% by the Government of Singapore Investment Corporation
(a sovereign wealth fund), 11.18% by Alinda Capital Partners (an
infrastructure fund), 10% by China Investment Corporation (a
sovereign wealth fund) and 10% by the University Superannuation
Scheme (a pension scheme).
NEAL STONEMAN: Enters Liquidation, Owes Almost GBP1.5 Million
-------------------------------------------------------------
William Telford at PlymouthLive reports that a scaffolding firm run
by a well-known Plymouth businessman has gone bust owing almost
GBP1.5 million which is unlikely to be paid.
Neal Stoneman Scaffolding Ltd has been involved with some of
Plymouth's most prominent construction projects including the
redevelopment of the former Derrys building and at Mayflower House,
in the city centre.
But it went into liquidation earlier this year leaving debts,
including a large Covid loan, outstanding, PlymouthLive relates.
Neal Stoneman, a director and shareholder, is well known in the
city for being president of Devonport Amateur Boxing Club,
supporting charitable causes, and establishing the Grade II listed
St Anne's House hotel at Jennycliff.
He is listed on Companies House as the person with significant
control of Neal Stoneman Scaffolding, which traded from 1999 until
it appointed a liquidator from London-based B&C Associates, in
April 2022, to voluntarily wind up the business, PlymouthLive
notes. Documents filed at Companies House reveal there were just
GBP33,503 in assets which means there will be an estimated loss for
creditors of GBP1,453,341, PlymouthLive discloses.
Among those owed cash is the Royal Bank of Scotland Plc, which lent
GBP62,500 under the Government-backed Coronavirus Business
Interruption Loan Scheme (CBILS), for which no personal guarantee
was needed, according to PlymouthLive. Also, the taxman was owed
GBP331,480 and HMRC is now likely to be GBP298,777 out of pocket
due to the small value of assets, PlymouthLive states.
In 2020, the last set of accounts filed showed Neal Stoneman
Scaffolding had net assets of GBP531,597, PlymouthLive relays.
Neal Stoneman Scaffolding is just one of several Plymouth building
firms to hit the rocks recently as construction firms struggle with
rising costs for labour and materials and the end of Covid support
from the Government, according to PlymouthLive.
NEPTUNE ENERGY: Moody's Ups CFR to Ba2 & Alters Outlook to Stable
-----------------------------------------------------------------
Moody's Investors Service has upgraded the corporate family rating
of Neptune Energy Group Midco Ltd. (Neptune Energy, the company) to
Ba2 from Ba3 and the Probability of Default Rating to Ba2-PD from
Ba3-PD. Concurrently, Moody's also upgraded the instrument rating
of the USD850 million backed senior unsecured notes issued by
Neptune Energy Bondco Plc to Ba3 from B1. The outlook has been
changed to stable from positive.
RATINGS RATIONALE
Neptune Energy's CFR of Ba2 reflects Moody's expectation of (i)
meaningful free cash flow generation and retention of strong credit
metrics in the next 12-18 months, even assuming a normalization in
hydrocarbon prices from current very high levels; (ii) production
growing organically towards 160-170 thousand barrels of oil
equivalent (kboepd) in the next 12 months, supported by full
resumption of activities at SnA hvit and Touat after recent halts
and start-up of new projects; (iii) continued adherence to
conservative financial policies, in line with the track record
demonstrated so far and (iv) natural gas continuing to represent a
large proportion of the company's commodity mix, which Moody's
views favourably in the context of carbon transition.
While short-term production volumes will remain below 150 kboepd,
Moody's views Neptune Energy's favourable cost structure, capital
efficiency and disciplined financial policy as mitigating factors
underpinning the company's very strong credit metrics. Neptune
Energy's financial profile has improved since year-end 2021 owing
to higher cash margins and active debt reduction achieved in the
first three months of 2022. The company's gross debt to EBITDA
(debt/EBITDA, Moody's-adjusted) declined to below 0.9x in the Last
Twelve Months (LTM) ended March 2022 from 1.3x as at the end of
2021, while and Retained Cash Flow to gross debt (RCF/debt) rose to
53% compared to 32% for full-year 2021. Looking ahead, the rating
agency projects Neptune Energy to maintain strong financial metrics
such as debt/EBITDA well below 1.0x and RCF/debt around 60%, even
assuming a downward adjustment in hydrocarbon prices towards levels
commensurate with Moody's medium-term oil price range. Finally, the
Ba2 CFR also considers its private equity ownership and the
potential for material discretionary shareholder remuneration.
However, Moody's expects that the company will continue to exercise
a balanced approach in managing interests of its lenders and
private owners and considers its prudent financial policies as one
of the factors supporting the upgrade of the ratings.
ESG CONSIDERATIONS
Environmental considerations primarily relate to increasing
regulatory risks facing upstream companies as the world moves
towards cleaner energy mix, in particular as far as carbon
emissions are concerned. However, Moody's expects the shift away
from hydrocarbons to occur over a period of decades and that global
oil demand will continue to grow through at least the latter half
of the 2030s. Additionally, Moody's considers the large share of
natural gas production out of the company's commodity mix,
alongside low carbon intensity to partially mitigate these risks.
Governance considerations include the company's private equity
ownership and appetite for shareholder distributions. That said,
Moody's assessment factors in the disciplined approach to financial
policy demonstrated so far by management, including keeping low
leverage, ensuring good liquidity, resorting to extensive commodity
hedging to manage price exposure and prioritizing organic over
inorganic growth.
LIQUIDITY
Neptune Energy has good liquidity. As of March 31, 2022, the
company reported $321 million of unrestricted cash and drawings of
$1,033 million under its Reserve-Based Lending (RBL) facility with
total commitments of $2,600 million due 2024. At the latest
reporting date, the company was well in compliance with the net
leverage covenant associated with the RBL and Moody's expects the
company to maintain ample headroom. The company's next notes
maturity event is in May 2024 when the RBL matures.
STRUCTURAL CONSIDERATIONS
The senior notes rated Ba3 are unsecured and therefore subordinated
to the senior secured RBL's priority claim to the company's assets.
The size of the potential senior secured claims relative to the
unsecured notes outstanding results in the senior notes being
notched below the Ba2 CFR.
RATINGS OUTLOOK
The stable outlook reflects Moody's expectations of gradually
rising production volumes to levels commensurate with the guidance
for the Ba2 rating, whilst maintaining a strong financial profile
along with adherence to prudent financial policies (including
shareholder distributions) and strong liquidity.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Although unlikely at this juncture, Neptune Energy's ratings could
be upgraded should production volumes grow durably above 225 kboepd
supported by an adequate reserve life, while keeping
Moody's-adjusted debt to average daily production below $7,500/boe
and retained cash flow (RCF) to total debt above 45% on a
sustainable basis in a $60/boe oil price scenario. An upgrade would
also require a well-defined and conservative shareholder
remuneration policy as well as maintenance of a strong liquidity
position backed by positive free cash flow (FCF) generation.
Conversely, the ratings could be downgraded should (i) the
production profile and/or reserve life of the company significantly
deteriorate or (ii) FCF generation turn consistently negative as a
result of large shareholder distributions and/or capital
outspending, pressuring the company's liquidity position or (iii)
Moody's-adjusted debt to average daily production above $15,000/boe
or RCF/gross debt falls below 30% for a prolonged period.
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Independent
Exploration and Production published in August 2021.
SEA HOTEL: Enters Administration, Seeks Buyer for Business
----------------------------------------------------------
Sam Johnson at The Shields Gazette reports that The Sea Hotel, in
Sea Road, South Shields officially entered administration on
Monday, July 18, with administrators saying they will look to
market the hotel with the intent of finding a buyer.
According to The Shields Gazette, the team said the hotel, which
was built in the 1930s, will remain open and will honour all future
bookings and events. Administrators say it is unclear whether any
redundancies will be made, The Shields Gazette notes.
The Sea Hotel reopened in January 2020 just before the Covid
pandemic, after new owners High Street Hospitality borrowed GBP1.15
million from lender Assetz Capital to fund the purchase and
refurbishment, The Shields Gazette recounts.
Lee Lockwood and Gareth Harris of RSM UK Restructuring Advisory LLP
were appointed as joint administrators of Hotel 52 (Sea) Limited on
July 18, 2022, The Shields Gazette relates.
"RSM UK were appointed administrators of Hotel 52 (Sea) Limited
which operated the Sea Hotel on the beach front in South Shields,"
The Shields Gazette quotes Mr. Lockwood, partner at RSM UK and
joint administrator, as saying.
"As administrators, we are currently reviewing the company's
business to evaluate the options available to creditors and
formulate proposals.
"As part of this process, the hotel will remain open, and trading
will continue. Whilst it does, we will aim to honour all future
bookings and events including those where deposits have been paid.
"It is unclear whether there will need to be any redundancies at
this stage, and we are actively consulting with the company's
employees in this regard.
"To provide the employees and other stakeholders with the best
possible outcome, we intend to market the hotel with a view to
finding a buyer as a going concern. Full marketing details will be
released in due course."
TATA STEEL: Threatens to Shut Down Operations, Seeks GBP1.5BB Aid
-----------------------------------------------------------------
Anjli Raval, Sylvia Pfeifer, Harry Dempsey and Chloe Cornish at The
Financial Times report that the owner of the UK's largest
steelworks, Tata Group, has threatened to shut down operations if
the government does not agree in the next year to provide GBP1.5
billion of subsidies to help it reduce carbon emissions.
Tata Steel UK runs the Port Talbot plant and employs nearly 8,000
people across all its operations. As one of Britain's largest
industrial groups it is among the biggest emitters of carbon
dioxide. Executives have been in talks with the government about
decarbonisation plans, but discussions have stalled, the FT
relates.
"A transition to a greener steel plant is the intention that we
have . . . But this is only possible with financial help
from the government," Natarajan Chandrasekaran, chair of Tata
Group, told the FT. "We have been in discussions over the last two
years and we should come to an agreement within 12 months. Without
this, we will have to look at closures of sites," he said.
Under decarbonisation plans, Tata would close its two blast
furnaces at Port Talbot, stop primary steelmaking and instead build
two electric arc furnaces, said people familiar with the details,
the FT notes. These furnaces recycle scrap steel and are less
carbon intensive than blast furnaces, according to the FT.
According to the FT, the people said building these electric arc
furnaces and decommissioning the blast furnaces would cost around
GBP3 billion, with Tata seeking GBP1.5 billion from the
government.
Around 80% of UK steel is made in blast furnaces at two sites:
Tata's Port Talbot plant in Wales and a British Steel site at
Scunthorpe, the FT states. The process, which uses coking coal to
melt iron ore and remove oxygen, is highly carbon-intensive.
Under Chandrasekaran, Tata has reduced debt, sold unprofitable
international businesses and simplified the sprawling group, the FT
recounts. It has also expanded in its home market of India,
investing in renewable energy and digital businesses. The group
has also been building out its steel business in India, where
demand is growing strongly and return on investment is far higher
than in the UK.
In 2016, Tata Steel UK said it would "explore all options for
portfolio restructuring, including the potential divestment of Tata
Steel UK, in whole or in parts", the FT notes.
Trade body UK Steel has said the industry will need to consider all
possibilities for reducing its emissions, including steelmaking
methods that use hydrogen instead of coking coal, more use of scrap
steel in electric arc furnaces, or capturing and storing carbon
emissions from blast furnaces, the FT relates.
VUE INTERNATIONAL: Moody's Downgrades CFR to Ca, Outlook Negative
-----------------------------------------------------------------
Moody's Investors Service has downgraded the corporate family
rating of Vue International Bidco plc to Ca from Caa2, as well as
its probability of default rating to Ca-PD from Caa2-PD.
Concurrently, Moody's has downgraded to Caa3 from Caa1 the
instrument rating on the EUR634 million senior secured term loan
due 2026 and the GBP65 million senior secured revolving credit
facility due 2025, both issued by Vue. The outlook on the ratings
is negative.
The ratings downgrade follows the company's announcement on July
13, 2022 of a proposed scheme of arrangement that would provide the
company with a new super senior credit facility of GBP81 million
and replace its senior secured debt with a new GBP550 million term
loan. In the process, GBP225 million of first lien will be
equitized and all of second lien debt will be extinguished.
Equitizing first lien lenders will receive 100% of
post-restructuring pre-dilution equity. The convening hearing for
the scheme is scheduled on July 27 and the restructuring is
expected to be completed in November 2022.
RATINGS RATIONALE
Moody's expects to consider this transaction as a distressed
exchange which is a default under Moody's definitions. The agency
will assign an "/LD" (Limited Default) to the PDR for a period of
three business days, on completion of the restructuring.
The company indicated that its recovery from the pandemic was
hampered by the emergence of the Omicron variant in December 2021
which reduced the pace of customers returning to movie theatres. As
a result, Vue anticipates that in the absence of the proposed
transaction, it will experience a liquidity shortage in the fourth
quarter of 2022 after breaching the minimum liquidity covenant of
GBP35 million.
Moody's positively acknowledges that the completion of the
announced debt restructuring will help to bring the company's debt
leverage down meaningfully thereby restoring the company's
financial flexibility. Moody's expects that Vue's ratings could be
upgraded following this transaction assuming admissions and
operational recovery continue as currently envisioned.
RATIONALE FOR NEGATIVE OUTLOOK
The negative outlook on the ratings reflects the high likelihood of
default on the first lien debt over the coming months, if the
announced debt restructuring transaction concludes successfully.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Moody's would consider assigning an "/LD" to the PDR for a period
of three business days, on completion of the restructuring.
In view of the action and the negative rating outlook, Moody's does
not currently anticipate upward rating pressure before the
completion of the company's debt restructuring transaction.
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Business and
Consumer Services published in November 2021.
COMPANY PROFILE
Vue International Bidco plc (Vue) is a leading international cinema
operator, managing well known brands in major European markets and
is the second-largest European cinema operator by number of
screens. The company, originally founded in 1998, has grown through
a number of acquisitions, complemented by organic growth and new
site openings. In fiscal 2021, company has recorded revenue of
GBP386 million and EBITDA of GBP24 million.
VUE INTERNATIONAL: S&P Downgrades ICR to 'CC', Outlook Negative
---------------------------------------------------------------
S&P Global Ratings lowered to 'CC' from 'CCC+' its issuer credit
rating on Vue International Bidco PLC (Vue) and the issue ratings
on its GBP65 million revolving credit facility (RCF) and EUR634
million senior term loan.
S&P said, "The negative outlook indicates that we expect to lower
our ratings on Vue and its debt to 'D' (default) when the
restructuring becomes effective. Upon implementation of the
restructuring, we expect to review the rating, the company's new
capital structure, and its liquidity position.
"In our view, Vue's proposed restructuring is distressed and, upon
its implementation, we expect to lower the rating on the group to
'D' (default)."
Vue announced that it had reached an agreement with a group of its
lenders representing approximately 60% of the first-lien debt and
its shareholders to restructure its capital structure. In S&P's
view, the transaction is distressed under our criteria because
Vue's current capital is unsustainable and, absent the proposed
transaction, the group would have faced covenant breaches in the
fourth quarter of fiscal year ending Nov. 30, 2022. The transaction
will result in first- and second-lien investors receiving less than
the original promise in the initial loan contracts. In addition,
first-lien investors will see their ranking altered with the new
GBP550 million term loan being contractually subordinated to the
proposed GBP81 million super senior new money facility. At the same
time, the proposed transaction will significantly reduce Vue's debt
and interest burden and will enhance its liquidity.
Subject to requisite consent to complete the transaction, the
proposed restructuring assumes:
-- Issuance of a new GBP81 million super senior money facility
maturing July 2027;
-- A reduction in first-lien debt, currently comprising GBP30
million of RCF drawings, GBP20 million of overdrafts, a GBP150
million senior secured term loan (unrated), and the EUR634 million
senior term loan B. Existing first-lien lenders would participate
pro rata in a reinstated GBP550 million term loan due December
2027, paying either 8% cash interest or 6% cash plus 2.5%
payment-in-kind (PIK) interest at the option of the group;
-- A write-off of the second lien PIK loan (GBP239 million), and
shareholder loans (GBP1.1 billion); and
-- First-lien lenders will receive 100% of the new group's equity,
with second-lien debtholder OMERS retaining a right to participate
on potential future disposal proceeds contingent on the sale price
achieved.
The transaction is subject to the level of participation in the
lock-up agreement. If the group receives consent of 100% of
existing first lien debt holders, the transaction will be
implemented without need for a scheme of arrangement. If the group
reaches 75%-100% consent, an English scheme of arrangement will be
launched. If a scheme is lodged, S&P expects the company could
obtain the resolution by early September, before the next interest
payment on the senior term loan was due in October 2022. Under the
proposal, the October interest payment will now be rolled into the
face value of the new GBP550 million senior term loan, and the
group is continuing to pay monthly interest on its GBP30 million
RCF and GBP20 million overdraft drawings. At the time of the
transaction's announcement, the group had already received consent
from 60% of relevant lenders. If 75% consent to the scheme is not
reached, S&P understands that the company would consider an
accelerated sale through a pre-packaged administration process.
S&P said, "The proposed transaction will improve Vue's leverage and
liquidity and release covenant pressure. In our view, if
implemented, the transaction will result in a significant reduction
of Vue's leverage and interest costs and will strengthen its
liquidity. As of May 2022, Vue held about GBP85 million in cash
including GBP17 million of cash that it could not repatriate in
Germany. We expect it could face liquidity pressure and risk
breaching the minimum liquidity covenant set at GBP35 million in
the coming months, because of material deferred rent payments,
ongoing capital expenditure (capex) needs, and working capital
outflows. We believe the proposed GBP81 million super senior new
money facility should enable the group to maintain sufficient
liquidity over the rest of fiscal 2022. We also forecast improved
admissions in the fourth quarter of fiscal 2022 and the first
quarter of fiscal 2023, as well as lower deferred rent obligations,
which should support liquidity thereafter."
Trading conditions will remain tough through the summer, with some
respite over the Christmas period. Vue's operating performance
suffered over the first four months of 2022 because of restrictions
related to the COVID-19 omicron variant and a relatively weak film
slate. This resulted in admissions remaining well below 70% of
pre-pandemic levels during most of the period. S&P forecasts cinema
admissions will progressively improve to about 80% in the second
half of 2022, thanks to a stronger slate of film releases in the
summer months and the run-up to Christmas (including "Thor", "Black
Panther", and "Avatar", among others). However, we think it is
unlikely the group will reach admissions levels sufficient to
support its high fixed costs, deferred rent payments to landlords
(expected at about GBP50 million in fiscal 2022), and substantial
interest payments.
Cinema operators face competition from still rapidly growing
streaming platforms. S&P said, "We believe that structural changes
in film distribution with shortening theatrical windows and more
new releases going straight to over-the-top (OTT) platforms will
continue to affect cinema admissions over the medium term. We
believe that, while studios will likely continue to prefer
releasing mass-appeal blockbuster films in cinemas, strong demand
for exclusive content from large OTT platforms could continue to
drive smaller productions away from cinemas. We forecast that Vue's
admissions levels will not recover to fiscal 2019 levels in the
medium term, remaining 30% below fiscal 2019 in fiscal 2022, and
10%-15% below fiscal 2019 in fiscal 2023."
The negative outlook indicates that S&P will lower the ratings on
Vue and its first-lien debt to 'D' (default) when the proposed debt
restructuring becomes effective, for example when the scheme of
arrangement is approved. Subsequently, upon implementation of the
restructuring, we will review the rating, the company's new capital
structure, and its liquidity position.
ESG credit indicators: E-2, S-4, G-3
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week July 18 to July 22, 2022
-------------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------------
Atos SE 1.000 11/12/2029 EUR 59.457
Orpea SA 2.625 03/10/2025 EUR 72.752
Orpea SA 2.000 04/01/2028 EUR 63.595
Atento Luxco 1 8.000 02/10/2026 USD 73.080
Fastighets AB B 2.873 06/02/2081 EUR 65.612
CECONOMY AG 1.750 6/24/2026 EUR 71.979
Russian Foreign 12.750 6/24/2028 USD 25.296
United Kingdom 1.125 10/22/2073 GBP 64.835
Ukraine Governm 7.750 09/01/2022 USD 61.947
Castellum AB 3.125 EUR 65.139
International P 9.750 11/12/2025 EUR 73.867
Telecom Italia 1.625 1/18/2029 EUR 73.237
Sigma Holdco BV 5.750 5/15/2026 EUR 61.375
Nobel Bidco BV 3.125 6/15/2028 EUR 68.942
NAK Naftogaz Uk 7.375 7/19/2022 USD 78.000
Banca Monte dei 5.375 1/18/2028 EUR 59.348
Credit Suisse G 4.500 USD 69.000
Vedanta Resourc 6.125 08/09/2024 USD 64.301
Gol Finance SA 7.000 1/31/2025 USD 69.334
Gazprom PJSC Vi 1.450 03/06/2023 CHF 45.244
Hellenic Republ 1.875 1/24/2052 EUR 60.226
Atos SE 2.500 11/07/2028 EUR 66.615
Yandex NV 0.750 03/03/2025 USD 49.625
Gazprom PJSC Vi 4.950 7/19/2022 USD 70.500
ADLER Group SA 2.250 1/14/2029 EUR 49.067
EnfraGen Energi 5.375 12/30/2030 USD 68.737
Maxeda DIY Hold 5.875 10/01/2026 EUR 72.492
Allianz SE 3.875 USD 70.828
State of North 0.950 01/10/2121 EUR 42.336
Cellnex Telecom 0.750 11/20/2031 EUR 68.305
Romanian Govern 4.625 04/03/2049 EUR 73.241
Russian Foreign 5.625 04/04/2042 USD 29.096
Nexi SpA 2.125 4/30/2029 EUR 71.984
Russian Foreign 4.750 5/27/2026 USD 17.866
Gazprom PJSC Vi 3.125 11/17/2023 EUR 32.497
Accentro Real E 3.625 2/13/2023 EUR 68.150
Mitsubishi UFJ 4.137 12/15/2050 EUR 34.228
Poste Italiane 2.625 EUR 71.924
Credit Suisse G 5.100 USD 74.600
TI Automotive F 3.750 4/15/2029 EUR 70.687
SBB Treasury Oy 1.125 11/26/2029 EUR 57.598
Vodafone Group 5.125 06/04/2081 USD 70.619
Casino Guichard 2.511 EUR 25.724
Desenio Group A 6.154 12/16/2024 SEK 49.333
HSE Finance Sar 5.625 10/15/2026 EUR 69.440
UniCredit SpA 3.875 EUR 72.835
Corestate Capit 3.500 4/15/2023 EUR 19.267
Electricite de 3.375 EUR 71.198
Lukoil Internat 4.563 4/24/2023 USD 68.552
VEON Holdings B 3.375 11/25/2027 USD 52.750
Balder Finland 1.000 1/20/2029 EUR 67.426
Frigoglass Fina 6.875 02/12/2025 EUR 53.110
Samhallsbyggnad 2.875 EUR 41.292
Banco Santander 3.625 EUR 70.787
SBB Treasury Oy 0.750 12/14/2028 EUR 57.353
Lukoil Capital 2.800 4/26/2027 USD 58.500
Turkey Governme 11.700 11/13/2030 TRY 72.900
Jababeka Intern 6.500 10/05/2023 USD 65.450
Endo Luxembourg 6.125 04/01/2029 USD 74.779
Aggregate Holdi 6.875 11/09/2025 EUR 32.170
Compact Bidco B 5.750 05/01/2026 EUR 70.939
HOCHTIEF AG 0.625 4/26/2029 EUR 71.080
Tinkoff Bank JS 6.000 USD 30.000
Vedanta Resourc 9.250 4/23/2026 USD 62.741
Gazprom PJSC Vi 8.625 4/28/2034 USD 36.435
Banca Monte dei 10.500 7/23/2029 EUR 69.511
Teva Pharmaceut 4.100 10/01/2046 USD 63.917
Lukoil Internat 4.750 11/02/2026 USD 60.312
Heimstaden AB 6.750 EUR 69.198
MHP SE 7.750 05/10/2024 USD 54.304
ING Groep NV 3.875 USD 73.777
VGP NV 1.500 04/08/2029 EUR 67.993
ADLER Group SA 1.500 7/26/2024 EUR 60.684
Air France-KLM 0.125 3/25/2026 EUR 15.447
Lukoil Securiti 3.875 05/06/2030 USD 51.390
Korian SA 0.875 03/06/2027 EUR 46.692
Air Baltic Corp 6.750 7/30/2024 EUR 72.407
CPI Property Gr 3.750 EUR 60.933
United Kingdom 0.500 10/22/2061 GBP 52.019
International C 3.750 3/25/2029 EUR 73.729
Intesa Sanpaolo 4.125 EUR 68.466
International C 1.500 07/04/2027 EUR 70.180
Casino Guichard 3.992 EUR 38.303
Aragvi Finance 8.450 4/29/2026 USD 69.200
Kleopatra Holdi 6.500 09/01/2026 EUR 65.000
Corestate Capit 1.375 11/28/2022 EUR 23.106
Russian Railway 2.200 5/23/2027 EUR 10.060
UBS Group AG 4.375 USD 75.770
Gazprom PJSC vi 3.897 EUR 16.048
Aydem Yenileneb 7.750 02/02/2027 USD 73.140
Casino Guichard 5.250 4/15/2027 EUR 71.630
EP Infrastructu 1.698 7/30/2026 EUR 70.491
Balder Finland 1.375 5/24/2030 EUR 63.474
FEL Energy VI S 5.750 12/01/2040 USD 73.130
Novolipetsk Ste 4.700 5/30/2026 USD 45.000
Cellnex Telecom 1.750 10/23/2030 EUR 73.848
ALROSA Finance 4.650 04/09/2024 USD 24.000
Mobilux Finance 4.250 7/15/2028 EUR 74.363
Republic of Bel 6.875 2/28/2023 USD 16.901
Eurotorg LLC Vi 9.000 10/22/2025 USD 58.750
ING Groep NV 4.250 USD 69.897
La Banque Posta 3.000 EUR 67.411
Telefonica Euro 2.376 EUR 72.757
Piraeus Financi 8.750 EUR 72.742
Gazprom PJSC Vi 5.150 02/11/2026 USD 30.426
Korian SA 1.875 EUR 33.707
Sigma Holdco BV 7.875 5/15/2026 USD 61.319
Samhallsbyggnad 2.624 EUR 49.558
French Republic 0.500 6/25/2044 EUR 67.806
NE Property BV 2.000 1/20/2030 EUR 72.090
Gazprom PJSC Vi 2.500 3/21/2026 EUR 27.066
EP Infrastructu 1.816 03/02/2031 EUR 62.148
Credit Suisse G 0.625 1/18/2033 EUR 65.778
Severstal OAO V 3.150 9/16/2024 USD 15.000
Samhallsbyggnad 2.625 EUR 45.440
Moby SpA 7.750 2/15/2023 EUR 71.946
NET4GAS sro 3.500 7/28/2026 EUR 65.032
Hungary Governm 0.500 11/18/2030 EUR 72.544
Russian Foreign 2.650 5/27/2036 EUR 22.967
Zalando SE 0.625 08/06/2027 EUR 69.411
Intesa Sanpaolo 1.350 2/24/2031 EUR 73.934
Heimstaden Bost 3.000 EUR 58.985
MHP Lux SA 6.950 04/03/2026 USD 52.998
Ocado Group PLC 0.750 1/18/2027 GBP 70.200
Carnival PLC 1.000 10/28/2029 EUR 58.827
ADLER Group SA 1.875 1/14/2026 EUR 54.583
VTB Bank PJSC V 9.500 USD 8.000
Heimstaden Bost 3.625 EUR 65.178
Korian SA 2.250 10/15/2028 EUR 75.397
Mahle GmbH 2.375 5/14/2028 EUR 71.621
Jaguar Land Rov 4.500 7/15/2028 EUR 73.038
Grupo Antolin-I 3.500 4/30/2028 EUR 67.439
Gazprom PJSC Vi 7.288 8/16/2037 USD 32.664
Orpea SA 2.130 07/03/2024 EUR 68.464
Standard Profil 6.250 4/30/2026 EUR 62.304
Bulgaria Govern 0.375 9/23/2030 EUR 74.784
Samhallsbyggnad 1.000 08/12/2027 EUR 63.077
Ukraine Governm 9.750 11/01/2028 USD 28.111
Romanian Govern 3.875 10/29/2035 EUR 75.122
ALROSA Finance 3.100 6/25/2027 USD 11.000
VEON Holdings B 4.000 04/09/2025 USD 70.000
Cellnex Finance 2.000 2/15/2033 EUR 68.943
PIK Securities 5.625 11/19/2026 USD 8.500
Arrival SA 3.500 12/01/2026 USD 41.125
Spain Governmen 1.900 10/31/2052 EUR 74.613
International C 1.125 5/18/2028 EUR 68.896
Ukraine Governm 4.375 1/27/2030 EUR 26.423
Sweden Governme 1.375 6/23/2071 SEK 65.391
Ideal Standard 6.375 7/30/2026 EUR 63.442
Balder Finland 2.000 1/18/2031 EUR 64.849
Ukraine Governm 6.750 6/20/2026 EUR 28.449
Altice France H 6.000 2/15/2028 USD 72.539
Boparan Finance 7.625 11/30/2025 GBP 72.410
Phosagro OAO Vi 3.949 4/24/2023 USD 27.000
Russian Railway 2.100 10/02/2023 CHF 4.937
Herens Midco Sa 5.250 5/15/2029 EUR 66.648
Novafives SAS 5.000 6/15/2025 EUR 67.566
Diebold Nixdorf 9.000 7/15/2025 EUR 73.200
Gazprom PJSC Vi 4.950 02/06/2028 USD 34.333
Eustream AS 1.625 6/25/2027 EUR 70.096
Sarens Finance 5.750 2/21/2027 EUR 69.029
VGP NV 2.250 1/17/2030 EUR 68.908
Gazprom PJSC Vi 4.950 3/23/2027 USD 29.023
Andrade Gutierr 9.500 12/30/2024 USD 54.090
Gazprom PJSC vi 4.599 USD 20.000
Ukraine Governm 7.750 09/01/2027 USD 28.476
SPP-Distribucia 1.000 06/09/2031 EUR 65.152
VTB Bank OJSC V 6.950 10/17/2022 USD 5.725
Accor SA 0.700 12/07/2027 EUR 42.909
Russian Railway 5.700 04/05/2022 USD 5.803
Tinkoff Bank JS 9.250 USD 10.000
Romanian Govern 3.750 02/07/2034 EUR 75.996
VF Ukraine PAT 6.200 02/11/2025 USD 67.349
Vonovia SE 1.625 09/01/2051 EUR 52.857
Lukoil Capital 3.600 10/26/2031 USD 53.375
Novolipetsk Ste 1.450 06/02/2026 EUR 33.751
Heimstaden Bost 2.625 EUR 60.354
State of North 1.450 1/19/2122 EUR 55.503
MMK Internation 4.375 6/13/2024 USD 26.257
Gazprom PJSC vi 2.950 1/27/2029 USD 28.911
Electricite de 1.000 11/29/2033 EUR 75.465
Faurecia SE 2.375 6/15/2029 EUR 71.741
Vnesheconombank 6.800 11/22/2025 USD 5.000
Serbia Internat 2.125 12/01/2030 USD 74.130
Gazprom PJSC vi 1.500 2/17/2027 EUR 26.057
Delivery Hero S 2.125 03/10/2029 EUR 58.297
Russian Railway 7.487 3/25/2031 GBP 9.574
ADLER Real Esta 3.000 4/27/2026 EUR 67.919
Romanian Govern 2.750 4/14/2041 EUR 59.826
Metinvest BV 8.500 4/23/2026 USD 60.500
Hungary Governm 1.750 06/05/2035 EUR 71.162
Sberbank of Rus 5.125 10/29/2022 USD 10.350
Kernel Holding 6.500 10/17/2024 USD 48.415
CaixaBank SA 3.625 EUR 70.305
Allianz SE 2.625 EUR 73.819
MMC Norilsk Nic 4.100 04/11/2023 USD 55.000
EP Infrastructu 2.045 10/09/2028 EUR 68.619
Anadolu Efes Bi 3.375 6/29/2028 USD 69.251
ams-OSRAM AG 2.125 11/03/2027 EUR 73.983
Zorlu Yenileneb 9.000 06/01/2026 USD 72.677
Ukraine Railway 8.250 07/09/2024 USD 30.751
Gazprom PJSC Vi 2.949 1/24/2024 EUR 30.098
Gazprom PJSC vi 1.540 6/30/2027 CHF 26.687
Renault SA 1.125 10/04/2027 EUR 73.791
Romanian Govern 2.875 4/13/2042 EUR 59.902
Allianz SE 2.600 EUR 71.380
Russian Railway 3.125 CHF 5.477
Aroundtown SA 1.625 EUR 68.744
Prosus NV 3.832 02/08/2051 USD 63.063
Vnesheconombank 5.942 11/21/2023 USD 5.684
Phosagro OAO Vi 2.600 9/16/2028 USD 31.000
Russian Railway 0.840 03/12/2026 CHF 6.287
Just Eat Takeaw 0.625 02/09/2028 EUR 54.790
Delivery Hero S 0.875 7/15/2025 EUR 70.633
Ctec II GmbH 5.250 2/15/2030 EUR 73.532
Cellnex Finance 2.000 9/15/2032 EUR 70.499
ADLER Group SA 2.250 4/27/2027 EUR 50.283
Kernel Holding 6.750 10/27/2027 USD 47.272
Mobile Telesyst 5.000 5/30/2023 USD 24.583
Orpea SA 2.200 12/15/2024 EUR 70.000
Gazprom PJSC Vi 2.250 11/22/2024 EUR 31.868
Credit Bank of 8.875 USD 12.500
Muenchener Ruec 1.000 5/26/2042 EUR 71.854
Gazprom PJSC vi 3.250 2/25/2030 USD 27.269
Citycon Treasur 1.625 03/12/2028 EUR 75.620
Electricite de 2.000 12/09/2049 EUR 62.577
Energizer Gamma 3.500 6/30/2029 EUR 72.627
Russian Foreign 2.875 12/04/2025 EUR 17.440
Telefonaktiebol 1.000 5/26/2029 EUR 75.495
Hungary Governm 3.250 10/22/2031 HUF 69.682
Metinvest BV 7.750 4/23/2023 USD 62.500
ADLER Group SA 3.250 08/05/2025 EUR 56.583
Nykredit Realkr 1.000 10/01/2053 DKK 72.567
Banca Monte dei 8.000 1/22/2030 EUR 63.166
Scandinavian Ai 0.625 CHF 18.510
Hungary Governm 2.250 4/20/2033 HUF 59.692
Voltalia SA 1.000 1/13/2025 EUR 28.632
NAK Naftogaz Uk 7.125 7/19/2024 EUR 32.500
Wintershall Dea 3.000 EUR 73.435
Borets Finance 6.000 9/17/2026 USD 31.966
TotalEnergies S 2.000 EUR 74.945
MorphoSys AG 0.625 10/16/2025 EUR 71.749
Russian Railway 0.898 10/03/2025 CHF 5.000
CTP NV 1.500 9/27/2031 EUR 61.470
Fnac Darty SA 0.250 3/23/2027 EUR 72.275
ASTM SpA 2.375 11/25/2033 EUR 73.597
Serbia Internat 1.500 6/26/2029 EUR 73.654
Czech Republic 1.500 4/24/2040 CZK 58.005
Heimstaden Bost 3.375 EUR 69.114
Novatek OAO Via 4.422 12/13/2022 USD 46.500
Severstal OAO V 5.900 10/17/2022 USD 15.000
UniCredit SpA 0.850 1/19/2031 EUR 73.527
Ukraine Governm 7.750 09/01/2024 USD 29.136
Gazprom PJSC vi 1.850 11/17/2028 EUR 27.690
Polyus Finance 3.250 10/14/2028 USD 26.988
Delivery Hero S 1.000 1/23/2027 EUR 69.207
Ukreximbank Via 9.750 1/22/2025 USD 55.150
CPI Property Gr 1.500 1/27/2031 EUR 67.877
ADLER Group SA 2.000 11/23/2023 EUR 61.651
Metalloinvest F 3.375 10/22/2028 USD 25.800
Assicurazioni G 1.713 6/30/2032 EUR 72.019
MMC Norilsk Nic 2.800 10/27/2026 USD 55.750
Lloyds Banking 3.369 12/14/2046 USD 70.630
Gazprom PJSC Vi 4.250 04/06/2024 GBP 29.997
Prosus NV 2.778 1/19/2034 EUR 71.880
Intesa Sanpaolo 4.950 06/01/2042 USD 68.300
Fastighets AB B 1.250 1/28/2028 EUR 72.061
MMC Norilsk Nic 6.625 10/14/2022 USD 66.500
Rallye SA 4.371 2/28/2032 EUR 14.049
Development Ban 6.750 05/02/2024 USD 11.590
ADLER Group SA 2.750 11/13/2026 EUR 53.775
MHP Lux SA 6.250 9/19/2029 USD 53.163
Mithra Pharmace 4.250 12/17/2025 EUR 73.091
Romanian Govern 1.750 7/13/2030 EUR 71.871
Raiffeisen Bank 1.375 6/17/2033 EUR 71.835
Russian Foreign 1.850 11/20/2032 EUR 14.995
NGD Holdings BV 6.750 12/31/2026 USD 42.983
Romanian Govern 4.125 03/11/2039 EUR 73.496
Snam SpA 1.250 6/20/2034 EUR 73.732
Dometic Group A 2.000 9/29/2028 EUR 73.697
BAT Internation 2.250 09/09/2052 GBP 49.437
Investor AB 0.375 10/29/2035 EUR 68.119
Romanian Govern 2.625 12/02/2040 EUR 59.608
Alfa Bank AO Vi 5.950 4/15/2030 USD 10.000
Ukraine Governm 6.876 5/21/2029 USD 27.503
Ukraine Governm 8.994 02/01/2024 USD 29.186
Banque Federati 1.125 11/19/2031 EUR 73.692
Gazprom PJSC vi 3.000 6/29/2027 USD 29.158
BAT Internation 4.000 11/23/2055 GBP 63.407
Odea Bank AS 7.625 08/01/2027 USD 64.179
Sberbank of Rus 5.250 5/23/2023 USD 12.472
Citycon Oyj 3.625 EUR 70.062
Ukraine Governm 7.750 09/01/2026 USD 28.670
Ozon Holdings P 1.875 2/24/2026 USD 26.562
Romanian Govern 3.375 02/08/2038 EUR 68.089
Raiffeisen Bank 4.500 EUR 66.588
Gazprom PJSC vi 3.500 7/14/2031 USD 27.780
Turkey Governme 5.250 3/13/2030 USD 75.056
Credit Bank of 7.500 10/05/2027 USD 21.500
Iceland Bondco 4.375 5/15/2028 GBP 67.984
Bellis Finco PL 4.000 2/16/2027 GBP 71.893
Ekosem-Agrar AG 7.500 08/01/2024 EUR 16.333
Nostrum Oil & G 8.000 7/25/2022 USD 25.481
Finland Governm 0.500 4/15/2043 EUR 70.001
EDP - Energias 1.875 3/14/2082 EUR 71.575
Teva Pharmaceut 1.625 10/15/2028 EUR 71.518
Societe General 4.027 1/21/2043 USD 70.544
Wirecard AG 0.500 09/11/2024 EUR 12.183
AerCap Ireland 3.850 10/29/2041 USD 72.506
Banca Monte dei 8.500 09/10/2030 EUR 65.092
Ekosem-Agrar AG 8.500 12/07/2022 EUR 28.125
Union Fenosa Pr 1.173 EUR 68.000
Royalty Pharma 3.550 09/02/2050 USD 69.485
Ukraine Governm 7.750 09/01/2025 USD 28.619
Offshore Drilli 8.375 9/20/2020 USD 6.533
Enel SpA 1.875 EUR 69.267
Consus Real Est 4.000 11/29/2022 EUR 66.677
BMW Finance NV 0.200 01/11/2033 EUR 74.815
NAK Naftogaz Uk 7.625 11/08/2026 USD 32.458
Interpipe Holdi 8.375 5/13/2026 USD 44.750
NPC Ukrenergo 6.875 11/09/2026 USD 32.680
Stellantis NV 1.250 6/20/2033 EUR 70.279
FIGEAC-AERO 1.750 10/18/2028 EUR 22.620
MMC Norilsk Nic 3.375 10/28/2024 USD 47.500
Ziggo Bond Co B 3.375 2/28/2030 EUR 71.501
Russian Railway 4.600 03/06/2023 EUR 10.011
Cardea Europe A 7.250 12/08/2023 EUR 57.735
MMC Norilsk Nic 2.550 09/11/2025 USD 55.500
Aliaxis Finance 0.875 11/08/2028 EUR 75.409
City of Lugano 0.150 11/28/2070 CHF 31.626
Prosus NV 4.987 1/19/2052 USD 73.955
Metinvest BV 5.625 6/17/2025 EUR 57.567
UNIQA Insurance 2.375 12/09/2041 EUR 75.441
Wendel SE 1.375 1/18/2034 EUR 66.811
Delivery Hero S 1.000 4/30/2026 EUR 65.155
Republic of Aus 1.500 11/02/2086 EUR 69.635
Albania Governm 3.500 11/23/2031 EUR 73.912
Ukraine Governm 15.840 2/26/2025 UAH 65.343
Slovakia Govern 0.375 4/21/2036 EUR 71.425
Croatia Governm 1.750 03/04/2041 EUR 71.735
Bank Gospodarst 2.125 06/05/2030 PLN 67.088
Rallye SA 4.000 2/28/2032 EUR 14.443
GTLK Europe DAC 5.125 5/31/2024 USD 16.000
Deutsche Bahn F 0.625 12/08/2050 EUR 52.452
Aeroports de Pa 1.125 6/18/2034 EUR 74.862
Credit Bank of 5.150 2/20/2024 EUR 20.222
Saxa Gres Spa 7.000 08/04/2026 EUR 69.008
Romanian Govern 1.375 12/02/2029 EUR 72.714
Prosus NV 4.027 08/03/2050 USD 64.787
State Agency of 6.250 6/24/2028 USD 26.736
Delivery Hero S 1.500 1/15/2028 EUR 60.681
Deutsche Bahn F 0.625 4/15/2036 EUR 70.974
Metro Bank PLC 5.500 6/26/2028 GBP 56.172
Just Eat Takeaw 1.250 4/30/2026 EUR 68.728
Lithuania Gover 0.500 7/28/2050 EUR 52.235
Iberdrola Inter 1.825 EUR 74.795
Fuerstenberg Ca 5.625 EUR 60.971
United Kingdom 1.500 7/31/2053 GBP 78.255
Czech Republic 1.200 3/13/2031 CZK 72.539
Societe General 3.625 03/01/2041 USD 68.319
Rothschild & Co 1.860 EUR 72.381
Credit Bank of 3.100 1/21/2026 EUR 20.053
Enel Finance In 0.875 9/28/2034 EUR 69.531
UNEDIC ASSEO 0.250 7/16/2035 EUR 75.694
Gazprom PJSC Vi 4.364 3/21/2025 EUR 29.995
BNP Paribas SA 2.824 1/26/2041 USD 68.430
Dana Financing 3.000 7/15/2029 EUR 73.072
Eurochem Financ 5.500 3/13/2024 USD 38.125
Credit Bank of 3.875 9/21/2026 USD 21.000
Dtek Renewables 8.500 11/12/2024 EUR 41.479
Metinvest BV 7.650 10/01/2027 USD 57.610
Realkredit Danm 1.000 10/01/2050 DKK 73.743
Vonovia SE 0.750 09/01/2032 EUR 70.504
Royalty Pharma 3.350 09/02/2051 USD 67.079
Orsted AS 2.500 2/18/3021 GBP 69.958
TotalEnergies S 3.250 EUR 72.210
Thermo Fisher S 2.000 10/18/2051 EUR 69.071
Bank Gospodarst 2.250 7/21/2033 PLN 59.414
State of North 0.500 1/15/2052 EUR 60.299
Vonovia Finance 1.125 9/14/2034 EUR 67.218
Metinvest BV 7.750 10/17/2029 USD 60.750
Phosagro OAO Vi 3.050 1/23/2025 USD 25.000
BASF SE 1.625 11/15/2037 EUR 75.372
Casino Guichard 4.048 08/05/2026 EUR 73.378
Digital Intrepi 0.625 7/15/2031 EUR 70.856
IWG Internation 0.500 12/09/2027 GBP 73.992
CPI Property Gr 1.750 1/14/2030 EUR 71.651
Credit Bank of 7.625 USD 15.000
EnBW Energie Ba 2.125 8/31/2081 EUR 69.111
TotalEnergies S 2.125 EUR 70.836
Czech Gas Netwo 0.450 09/08/2029 EUR 69.904
Fresnillo PLC 4.250 10/02/2050 USD 73.641
SCF Capital Des 3.850 4/26/2028 USD 20.505
Republic of Bel 6.378 2/24/2031 USD 14.333
BUPA Finance PL 4.000 GBP 69.115
BICO Group AB 2.875 3/19/2026 SEK 66.634
AstraZeneca PLC 2.125 08/06/2050 USD 65.995
Mutuelle Assura 3.500 EUR 73.891
Wuestenrot & Wu 2.125 09/10/2041 EUR 73.658
Deutsche Teleko 1.750 12/09/2049 EUR 66.789
University of O 2.544 12/08/2117 GBP 72.684
Enel Finance In 1.250 1/17/2035 EUR 72.368
Hacienda Invest 5.350 02/08/2028 USD 12.000
Republic of Pol 4.000 4/25/2047 PLN 63.604
Credit Bank of 4.700 1/29/2025 USD 24.400
E.ON SE 0.875 10/18/2034 EUR 74.720
Enel Finance In 0.875 6/17/2036 EUR 65.566
Gazprom PJSC vi 2.950 4/15/2025 EUR 27.005
United Kingdom 0.875 1/31/2046 GBP 69.810
Shell Internati 3.000 11/26/2051 USD 74.436
Prosus NV 2.031 08/03/2032 EUR 70.412
Polyus Finance 5.250 02/07/2023 USD 24.167
Econocom Group 0.500 03/06/2023 EUR 8.059
Republic of Bel 5.875 2/24/2026 USD 14.000
Nostrum Oil & G 7.000 2/16/2025 USD 24.796
Neoen SA 1.875 10/07/2024 EUR 41.029
EnBW Internatio 0.250 10/19/2030 EUR 75.473
Barclays PLC 3.330 11/24/2042 USD 74.261
Romanian Govern 3.500 04/03/2034 EUR 73.632
Home Credit & F 8.800 USD 5.382
Heimstaden Bost 1.625 10/13/2031 EUR 70.460
Evraz PLC 5.375 3/20/2023 USD 50.000
Czech Republic 0.050 11/29/2029 CZK 68.642
Castellum Helsi 0.875 9/17/2029 EUR 71.424
JT Internationa 3.300 9/14/2051 USD 67.604
A2A SpA 1.000 11/02/2033 EUR 71.670
Just Group PLC 5.000 GBP 73.155
Proximus SADP 0.750 11/17/2036 EUR 70.854
Celtic Resource 4.125 10/09/2024 USD 9.968
Czech Gas Netwo 0.875 3/31/2031 EUR 64.933
Engie SA 1.875 EUR 70.430
Mondelez Intern 1.250 09/09/2041 EUR 62.682
Russian Foreign 1.125 11/20/2027 EUR 15.005
Cofinimmo SA 0.875 12/02/2030 EUR 73.708
UBS Group AG 3.179 02/11/2043 USD 75.956
HOCHTIEF AG 1.250 09/03/2031 EUR 70.024
BNP Paribas SA 0.625 12/03/2032 EUR 73.286
BPCE SA 2.125 10/13/2046 EUR 72.542
Cellnex Finance 3.875 07/07/2041 USD 68.765
Societe Nationa 1.000 5/25/2040 EUR 74.355
GTLK Europe Cap 4.800 2/26/2028 USD 16.000
Holcim Finance 0.500 4/23/2031 EUR 75.124
Credit Bank of 5.550 2/14/2023 USD 21.500
RWE AG 1.000 11/26/2033 EUR 73.304
EnBW Internatio 0.500 03/01/2033 EUR 70.947
Suek Securities 3.375 9/15/2026 USD 10.050
Cie Generale de 0.250 11/02/2032 EUR 74.996
Realkredit Danm 1.000 10/01/2053 DKK 72.571
Slovenia Govern 0.688 03/03/2081 EUR 38.342
Biocartis Group 4.000 05/09/2024 EUR 71.451
Evraz PLC 5.250 04/02/2024 USD 58.020
Republic of Bel 6.200 2/28/2030 USD 13.667
Rickmers Holdin 8.875 06/11/2018 EUR 0.833
Global Ports Fi 6.500 9/22/2023 USD 11.050
GTLK Europe Cap 5.950 4/17/2025 USD 15.000
Hannover Rueck 1.375 6/30/2042 EUR 75.100
Fresenius SE & 1.125 1/28/2033 EUR 74.688
Altice France H 4.000 2/15/2028 EUR 70.232
TenneT Holding 0.125 11/30/2032 EUR 73.947
GTLK Europe Cap 4.349 2/27/2029 USD 14.988
JAB Holdings BV 2.250 12/19/2039 EUR 65.876
Credit Suisse G 4.500 USD 69.500
European Financ 0.700 1/17/2053 EUR 62.643
Hera SpA 1.000 4/25/2034 EUR 69.751
Unibail-Rodamco 1.375 12/04/2031 EUR 73.511
Portugal Obriga 1.150 04/11/2042 EUR 73.260
ABH Financial L 2.700 06/11/2023 EUR 5.587
Mallinckrodt In 4.750 4/15/2023 USD 41.500
Royalty Pharma 3.300 09/02/2040 USD 73.629
Andorra Interna 1.700 10/13/2041 EUR 69.746
HOWOGE Wohnungs 1.125 11/01/2033 EUR 75.904
VEON Holdings B 3.375 11/25/2027 USD 52.552
Finland Governm 0.125 4/15/2052 EUR 55.090
Upjohn Finance 1.908 6/23/2032 EUR 74.894
GTLK Europe Cap 4.949 2/18/2026 USD 16.000
GTLK Europe Cap 4.650 03/10/2027 USD 13.000
Neoen SA 2.000 06/02/2025 EUR 49.782
Credit Agricole 1.500 10/06/2031 EUR 75.730
Mutuelle Assura 2.125 6/21/2052 EUR 75.832
City of Kyiv Vi 7.500 12/15/2022 USD 36.382
Ukreximbank Via 9.950 11/14/2029 USD 39.990
La Poste SA 0.625 1/18/2036 EUR 66.961
BP Capital Mark 1.467 9/21/2041 EUR 65.665
Imerys SA 1.000 7/15/2031 EUR 72.674
Bank Gospodarst 2.375 11/27/2040 PLN 46.926
ABH Financial L 2.875 11/09/2022 CHF 3.500
Unibail-Rodamco 1.750 07/01/2049 EUR 50.977
Storebrand Livs 1.875 9/30/2051 EUR 75.598
Bayer AG 1.000 01/12/2036 EUR 68.113
Sovcombank Via 7.600 USD 4.700
Euroclear Inves 1.375 6/16/2051 EUR 73.208
Ukraine Railway 7.875 7/15/2026 USD 29.935
Enel Finance In 2.875 07/12/2041 USD 67.752
Altice France H 6.000 2/15/2028 USD 72.171
Deutsche Bahn F 1.125 5/29/2051 EUR 61.075
Adecco Internat 0.500 9/21/2031 EUR 75.278
Norddeutsche La 7.490 EUR 61.023
Republic of Arm 3.600 02/02/2031 USD 70.662
Wendel SE 1.000 06/01/2031 EUR 70.932
Digital Dutch F 1.250 02/01/2031 EUR 75.481
EnfraGen Energi 5.375 12/30/2030 USD 68.966
Credit Agricole 2.811 01/11/2041 USD 69.783
Vonovia Finance 1.000 1/28/2041 EUR 54.778
Global Fashion 1.250 3/15/2028 EUR 69.193
Becton Dickinso 1.213 02/12/2036 EUR 70.746
DNB Bank ASA 1.848 USD 67.967
Agence Francais 0.375 5/25/2036 EUR 74.750
PB Internationa 7.625 12/31/2025 USD 42.039
Jyske Realkredi 1.000 10/01/2050 DKK 73.801
Novolipetsk Ste 4.500 6/15/2023 USD 38.250
A2A SpA 0.625 7/15/2031 EUR 74.588
City of Bern Sw 0.040 10/02/2070 CHF 36.028
Merlin Properti 1.875 12/04/2034 EUR 72.264
Russian Railway 4.375 03/01/2024 USD 20.091
Prosus NV 1.985 7/13/2033 EUR 68.307
Nexity SA 0.250 03/02/2025 EUR 60.165
Thermo Fisher S 1.625 10/18/2041 EUR 71.269
Intelsat Jackso 8.500 10/15/2024 USD 42.125
National Grid E 0.872 11/26/2040 EUR 58.314
Heimstaden Bost 0.750 09/06/2029 EUR 72.301
Novolipetsk Ste 4.000 9/21/2024 USD 37.750
Pierre Et Vacan 2.000 04/01/2023 EUR 27.063
Hungary Governm 4.500 5/27/2032 HUF 76.637
Czech Republic 1.950 7/30/2037 CZK 67.324
Orange SA 1.375 09/04/2049 EUR 66.859
National Grid P 0.750 09/01/2033 EUR 72.468
Lithuania Gover 0.750 7/15/2051 EUR 64.638
Nordea Kredit R 1.000 10/01/2050 DKK 73.852
Sibur Securitie 3.450 9/23/2024 USD 28.200
BNP Paribas SA 2.824 1/26/2041 USD 68.587
Bank Gospodarst 1.750 03/12/2028 PLN 72.540
Thomas Cook Gro 6.250 6/15/2022 EUR 0.432
Republic of Aus 0.250 10/20/2036 EUR 76.100
Bank Gospodarst 1.875 4/27/2027 PLN 76.063
Russian Agricul 8.500 10/16/2023 USD 9.659
Unibail-Rodamco 1.375 5/25/2033 EUR 70.076
Lukoil Capital 3.600 10/26/2031 USD 52.375
Linde PLC 1.000 9/30/2051 EUR 54.563
Intelsat Jackso 9.750 7/15/2025 USD 42.125
TenneT Holding 0.875 6/16/2035 EUR 73.666
Smurfit Kappa T 1.000 9/22/2033 EUR 72.686
Wellcome Trust 2.517 02/07/2118 GBP 71.753
Rusal Capital D 4.850 02/01/2023 USD 40.523
SCF Capital Des 5.375 6/16/2023 USD 20.000
Lukoil Capital 2.800 4/26/2027 USD 55.063
Shell Internati 1.750 09/10/2052 GBP 58.274
Sibur Securitie 2.950 07/08/2025 USD 35.000
Enel Finance In 1.125 10/17/2034 EUR 73.004
Engie SA 1.000 10/26/2036 EUR 67.686
Alfa Bank AO Vi 6.950 USD 11.533
Vnesheconombank 6.025 07/05/2022 USD 5.000
Vienna Insuranc 1.000 3/26/2036 EUR 71.569
Russian Foreign 5.100 3/28/2035 USD 18.687
Investor AB 1.500 6/20/2039 EUR 73.956
DH Europe Finan 1.350 9/18/2039 EUR 69.093
Deutsche Bahn F 0.875 6/23/2039 EUR 69.128
UBS Group AG 0.625 2/24/2033 EUR 73.059
Holcim Finance 0.625 1/19/2033 EUR 70.895
State of North 0.200 1/27/2051 EUR 55.318
Aedifica SA 0.750 09/09/2031 EUR 70.910
National Grid E 0.823 07/07/2032 EUR 76.395
Traton Finance 1.250 3/24/2033 EUR 72.616
State of North 1.375 1/15/2120 EUR 53.519
Nykredit Realkr 0.500 10/01/2050 DKK 74.180
VTB Bank OJSC V 4.073 10/24/2024 CHF 4.944
Nordea Kredit R 1.000 10/01/2053 DKK 72.615
CM.com NV 2.000 09/09/2026 EUR 72.056
Regiao Autonoma 1.141 12/04/2034 EUR 76.797
Hera SpA 0.250 12/03/2030 EUR 74.552
Rallye SA 5.250 2/28/2032 EUR 13.604
Saderea DAC 12.500 11/30/2026 USD 73.455
HOCHDORF Holdin 2.500 CHF 47.926
Russian Railway 1.195 04/03/2028 CHF 6.347
Paragon GmbH & 4.000 4/23/2023 CHF 54.100
Verbund AG 0.900 04/01/2041 EUR 71.170
Fresenius Finan 0.875 10/01/2031 EUR 75.639
Karlou BV 7.750 6/18/2024 USD 14.399
Hungary Governm 2.250 6/22/2034 HUF 56.902
Cyprus Governme 1.250 1/21/2040 EUR 68.131
DH Europe Finan 1.800 9/18/2049 EUR 65.512
VEON Holdings B 4.000 04/09/2025 USD 67.788
Medtronic Globa 1.375 10/15/2040 EUR 69.999
Uralkali OJSC V 4.000 10/22/2024 USD 22.000
Bank Gospodarst 0.500 07/08/2031 EUR 75.639
Berkeley Group 2.500 08/11/2031 GBP 75.570
Intelsat Jackso 5.500 08/01/2023 USD 42.125
EA Partners II 6.750 06/01/2021 USD 0.390
Societe General 3.625 03/01/2041 USD 68.203
BNG Bank NV 1.550 2/19/2032 AUD 74.496
CTP NV 1.250 6/21/2029 EUR 70.748
Iren SpA 0.250 1/17/2031 EUR 73.340
ABN AMRO Bank N 1.250 1/20/2034 EUR 75.805
Realkredit Danm 1.000 10/01/2053 DKK 66.805
Lukoil Securiti 3.875 05/06/2030 USD 52.137
Digital Intrepi 1.375 7/18/2032 EUR 72.042
TMK OAO Via TMK 4.300 02/12/2027 USD 8.500
Euronext NV 1.500 5/17/2041 EUR 67.192
Rallye SA 3.400 2/28/2032 EUR 13.830
BPCE SA 3.582 10/19/2042 USD 74.466
Siemens Financi 0.500 09/05/2034 EUR 73.848
Orange SA 0.750 6/29/2034 EUR 74.316
NIBC Bank NV 1.315 EUR 72.157
BNP Paribas SA 2.000 9/13/2036 GBP 72.135
Becton Dickinso 1.336 8/13/2041 EUR 62.867
DOF Subsea AS 9.500 9/30/2022 USD 60.241
EQT AB 0.875 5/14/2031 EUR 73.305
BAE Systems PLC 3.000 9/15/2050 USD 69.850
Vonovia SE 1.500 6/14/2041 EUR 60.769
Sovcombank Via 8.000 04/07/2030 USD 4.544
Travelex Financ 8.000 5/15/2022 EUR 0.458
Alfa Bank AO Vi 5.900 USD 7.949
Credit Bank of 7.121 6/25/2024 USD 21.063
Nykredit Realkr 0.500 10/01/2053 DKK 72.343
Vonovia SE 0.625 3/24/2031 EUR 74.418
Sovcombank Via 3.400 1/26/2025 USD 5.199
Sovcombank Via 7.750 USD 3.657
Landesbank Bade 0.375 2/21/2031 EUR 75.258
Immigon Portfol 6.569 EUR 10.690
Russian Foreign 4.375 3/21/2029 USD 18.989
BAT Internation 2.000 3/13/2045 EUR 56.764
Glencore Capita 1.250 03/01/2033 EUR 73.008
Turkey Governme 8.000 03/12/2025 TRY 71.400
Nexity SA 0.875 4/19/2028 EUR 46.128
Gecina SA 0.875 1/25/2033 EUR 75.841
Allianz Finance 0.500 11/22/2033 EUR 76.031
Aggregate Holdi 5.500 5/17/2024 EUR 31.640
Metalloinvest F 3.375 10/22/2028 USD 18.000
FEL Energy VI S 5.750 12/01/2040 USD 73.131
Romania Governm 4.150 10/24/2030 RON 73.270
EWE AG 0.375 10/22/2032 EUR 72.456
Hellenic Bank P 10.000 EUR 54.875
Jyske Realkredi 1.000 10/01/2053 DKK 72.631
UPM-Kymmene Oyj 0.500 3/22/2031 EUR 75.897
Alfa Bank AO Vi 5.500 10/26/2031 USD 7.546
WPC Eurobond BV 0.950 06/01/2030 EUR 74.052
ALROSA Finance 4.650 04/09/2024 USD 10.750
ABN AMRO Bank N 0.625 1/24/2037 EUR 76.241
Sagax Euro Mtn 1.000 5/17/2029 EUR 74.031
Wellcome Trust 1.500 7/14/2071 GBP 56.628
A2A SpA 0.625 10/28/2032 EUR 72.135
Orpea SA 2.564 11/30/2027 EUR 68.848
Deutsche Bahn F 1.375 4/16/2040 EUR 74.037
Vodafone Group 3.000 08/12/2056 GBP 72.052
Segro Capital S 0.500 9/22/2031 EUR 75.869
Medtronic Globa 1.750 07/02/2049 EUR 67.613
Heineken NV 1.750 05/07/2040 EUR 72.621
Hungary Governm 2.125 9/22/2031 USD 77.490
Medtronic Globa 1.500 07/02/2039 EUR 73.510
Credit Agricole 0.750 1/20/2042 EUR 67.694
Agence Francais 0.375 5/25/2036 EUR 75.157
Banco Espirito 7.125 11/28/2023 EUR 0.181
O1 Properties F 0.500 9/27/2028 USD 6.040
Vonovia Finance 1.625 10/07/2039 EUR 62.335
Russian Foreign 4.875 9/16/2023 USD 26.769
Ukraine Governm 9.790 5/26/2027 UAH 81.145
Orpea SA 2.750 06/03/2033 EUR 60.963
ABN AMRO Bank N 1.000 06/02/2033 EUR 75.456
Sibur Securitie 4.125 10/05/2023 USD 31.067
Intu Debenture 5.562 12/31/2027 GBP 41.333
Credit Agricole 2.811 01/11/2041 USD 69.362
Societe Du Gran 0.300 09/02/2036 EUR 73.818
Societe General 4.027 1/21/2043 USD 70.987
Cadent Finance 0.750 03/11/2032 EUR 74.202
UBS Group AG 4.375 USD 74.800
Logicor Financi 0.875 1/14/2031 EUR 71.231
Societe Nationa 1.000 1/19/2061 EUR 51.938
Nederlandse Wat 0.500 4/26/2051 EUR 62.777
Logicor Financi 2.000 1/17/2034 EUR 72.074
JDE Peet's NV 1.125 6/16/2033 EUR 72.677
Medtronic Globa 1.625 10/15/2050 EUR 64.860
Nestle Finance 0.875 6/14/2041 EUR 65.512
Russian Foreign 5.250 6/23/2047 USD 17.800
Simon Internati 1.125 3/19/2033 EUR 75.009
DOF Subsea AS 9.230 11/27/2023 NOK 70.000
Terega SA 0.875 9/17/2030 EUR 74.947
DNB Bank ASA 0.954 USD 67.881
Eurogrid GmbH 0.741 4/21/2033 EUR 74.352
Orpea SA 2.568 12/22/2022 EUR 73.700
European Financ 0.050 1/18/2052 EUR 49.878
Vnesheconombank 6.800 11/22/2025 USD 5.000
Hacienda Invest 5.075 2/15/2023 USD 12.178
University Coll 1.625 06/04/2061 GBP 65.157
Nykredit Realkr 0.500 10/01/2050 DKK 73.087
BP Capital Mark 0.933 12/04/2040 EUR 60.378
Novafives SAS 4.500 6/15/2025 EUR 67.533
Gazprom PJSC Vi 4.950 7/19/2022 USD 72.000
Motability Oper 1.500 1/20/2041 GBP 70.072
EA Partners I B 6.875 9/28/2020 USD 0.500
Croatia Governm 1.250 03/03/2040 EUR 65.766
Havila Shipping 5.920 01/02/2025 NOK 37.606
Nestle Finance 0.375 12/03/2040 EUR 60.028
Cyprus Governme 2.250 4/16/2050 EUR 74.674
GOL Equity Fina 3.750 7/15/2024 USD 73.776
PJSC Koks via I 5.900 9/23/2025 USD 7.550
Rusal Capital D 5.300 05/03/2023 USD 30.000
Anchor Hanover 2.000 7/21/2051 GBP 66.453
BNP Paribas SA 1.575 USD 73.918
adidas AG 0.625 09/10/2035 EUR 72.621
Digital Dutch F 1.000 1/15/2032 EUR 71.651
Cooperatieve Ra 0.750 6/21/2039 EUR 74.849
LEG Immobilien 1.000 11/19/2032 EUR 69.474
Sigma Holdco BV 7.875 5/15/2026 USD 62.953
Orpea SA 3.000 11/25/2041 EUR 40.783
BPCE SFH SA 0.010 1/29/2036 EUR 70.729
Gecina SA 0.875 6/30/2036 EUR 67.842
JAB Holdings BV 3.750 5/28/2051 USD 69.646
Allied Irish Ba 12.500 6/25/2035 GBP 54.775
Koninklijke Luc 0.750 CHF 20.750
Idavang A/S 7.250 11/11/2025 EUR 65.953
nextbike GmbH 6.000 3/31/2025 EUR 65.000
Lukoil Internat 4.563 4/24/2023 USD 68.719
Polyus Finance 4.700 1/29/2024 USD 26.962
DXC Capital Fun 0.950 9/15/2031 EUR 75.688
Shell Internati 0.875 11/08/2039 EUR 65.477
Unibail-Rodamco 1.750 2/27/2034 EUR 71.370
Vonovia SE 1.000 6/16/2033 EUR 70.374
Unibail-Rodamco 0.875 3/29/2032 EUR 68.947
Havila Shipping 5.170 01/02/2025 NOK 30.000
Italgas SpA 0.500 2/16/2033 EUR 70.570
Chelyabinsk Pip 4.500 9/19/2024 USD 10.477
Veragold Mining 5.000 12/31/2022 EUR 59.000
Deutsche Bahn F 0.100 1/28/2036 CHF 74.336
Nykredit Realkr 1.000 10/01/2053 DKK 66.792
Telefonica Emis 1.864 7/13/2040 EUR 74.766
FF Group Financ 1.750 07/03/2019 EUR 4.974
Altarea SCA 1.750 1/16/2030 EUR 72.054
UNEDIC ASSEO 0.100 5/25/2034 EUR 76.360
Imperial Brands 1.750 3/18/2033 EUR 73.522
Romania Governm 4.250 4/28/2036 RON 63.479
Europejskie Cen 11.370 4/14/2023 PLN 49.000
ICADE 0.625 1/18/2031 EUR 74.152
DNB Bank ASA 0.929 USD 67.864
Cie Generale de 0.625 11/02/2040 EUR 60.188
PIK Securities 5.625 11/19/2026 USD 8.000
Finland Governm 0.250 9/15/2040 EUR 70.364
Pentracor GmbH 8.500 5/29/2025 EUR 14.900
TenneT Holding 1.125 06/09/2041 EUR 66.856
Snam SpA 1.000 09/12/2034 EUR 70.321
Celtic Resource 4.125 10/09/2024 USD 8.000
LEG Immobilien 0.750 6/30/2031 EUR 73.559
Gazprom PJSC vi 3.250 2/25/2030 USD 27.902
Russian Foreign 4.750 5/27/2026 USD 17.866
MMK Internation 4.375 6/13/2024 USD 26.257
Pfandbriefbank 0.250 08/04/2038 CHF 73.898
Clarion Funding 1.875 09/07/2051 GBP 62.761
SRV Group Oyj 6.875 3/23/2025 EUR 53.148
Amprion GmbH 0.625 9/23/2033 EUR 70.881
Pfandbriefzentr 0.200 5/22/2042 CHF 68.181
Platform HG Fin 1.625 08/10/2055 GBP 58.834
Rallye SA 3.250 2/28/2032 CHF 14.500
Allianz SE 3.200 USD 79.745
Deutsche Wohnen 1.300 04/07/2041 EUR 56.727
Orpea SA 2.300 03/06/2025 EUR 70.000
de Volksbank NV 0.375 9/16/2041 EUR 67.370
Ukraine Governm 11.670 11/22/2023 UAH 77.468
Republic of Cro 1.000 11/27/2034 HRK 73.786
Richemont Inter 1.625 5/26/2040 EUR 74.829
FF Group Financ 3.250 11/02/2021 CHF 5.489
Volkswagen Inte 1.500 1/21/2041 EUR 62.978
Enel Finance In 2.875 07/12/2041 USD 67.902
EYEMAXX Real Es 5.500 4/26/2023 EUR 1.908
Russian Foreign 4.250 6/23/2027 USD 18.075
Landesbank Hess 0.500 1/19/2037 EUR 75.406
TenneT Holding 0.500 11/30/2040 EUR 59.396
Ukraine Governm 7.750 09/01/2022 USD 60.000
OGX Austria Gmb 8.500 06/01/2018 USD 0.008
ABN AMRO Bank N 0.400 9/17/2041 EUR 67.342
Unibail-Rodamco 2.250 5/14/2038 EUR 66.663
Air Berlin PLC 8.250 4/19/2018 EUR 0.450
Orpea SA 2.000 08/09/2029 EUR 55.496
Caisse Francais 0.125 2/15/2036 EUR 72.131
Nykredit Realkr 1.500 10/01/2053 DKK 73.876
SRV Group Oyj 4.875 3/27/2025 EUR 53.125
TenneT Holding 1.500 06/03/2039 EUR 74.001
CNP Assurances 1.875 10/12/2053 EUR 74.118
Sveriges Sakers 0.750 06/09/2032 SEK 75.118
Metropolitano d 1.229 7/30/2036 EUR 76.285
Land Berlin 0.625 1/26/2052 EUR 63.720
Gazprom PJSC vi 3.500 7/14/2031 USD 28.947
ALROSA Finance 3.100 6/25/2027 USD 10.132
Engie SA 1.250 10/24/2041 EUR 61.808
Officine Maccaf 5.750 06/01/2021 EUR 16.600
UNEDIC ASSEO 0.500 5/25/2036 EUR 76.599
Hellenic Republ 2.085 7/25/2057 EUR 35.601
Hyde Housing As 1.750 8/18/2055 GBP 59.745
Diebold Nixdorf 9.000 7/15/2025 EUR 73.250
Annington Fundi 2.924 10/06/2051 GBP 70.258
Gazprom PJSC Vi 4.950 02/06/2028 USD 34.120
Rallye SA 4.000 2/28/2032 CHF 13.150
Russian Foreign 12.750 6/24/2028 USD 25.296
Credit Agricole 0.125 3/15/2033 EUR 75.510
Tinkoff Bank JS 6.000 USD 11.929
NPC Ukrenergo 6.875 11/09/2026 USD 29.669
Senvion Holding 3.875 10/25/2022 EUR 0.256
Ziton A/S 7.900 10/03/2022 EUR 69.687
Muenchener Hypo 0.010 10/19/2039 EUR 64.811
Kommunekredit 0.125 9/26/2040 EUR 65.542
Ukreximbank Via 9.750 1/22/2025 USD 52.222
Deutsche Lichtm 5.250 09/01/2025 EUR 3.850
Nykredit Realkr 0.500 10/01/2053 DKK 71.088
Flagship Financ 1.875 7/14/2061 GBP 61.119
Banca Popolare 9.500 9/29/2025 EUR 0.127
Luzerner Kanton 0.150 10/07/2044 CHF 62.916
Cooperatieve Ra 1.000 1/19/2034 EUR 76.109
TI Automotive F 3.750 4/15/2029 EUR 70.815
Severn Trent Ut 2.000 06/02/2040 GBP 73.634
Accentro Real E 4.125 3/23/2026 EUR 63.333
Engie SA 1.375 6/21/2039 EUR 66.590
DSV Finance BV 0.875 9/17/2036 EUR 69.357
Prosus NV 4.027 08/03/2050 USD 64.720
Saltaire Financ 1.527 11/23/2051 GBP 69.795
Phosagro OAO Vi 2.600 9/16/2028 USD 23.000
M Objekt Real E 6.000 7/22/2024 EUR 68.566
United Kingdom 1.250 7/31/2051 GBP 73.467
OGX Austria Gmb 8.375 04/01/2022 USD 0.032
Air Liquide Fin 0.375 9/20/2033 EUR 76.512
Realkredit Danm 0.500 10/01/2053 DKK 72.343
Phosagro OAO Vi 3.050 1/23/2025 USD 27.500
Intesa Sanpaolo 2.625 03/11/2036 GBP 70.757
Andrade Gutierr 9.500 12/30/2024 USD 51.192
Eni SpA 1.000 10/11/2034 EUR 75.136
Nordea Kredit R 1.500 10/01/2053 DKK 74.049
CK Hutchison Gr 2.625 10/17/2034 GBP 75.486
Gazprom PJSC Vi 7.288 8/16/2037 USD 32.724
Nederlandse Wat 0.375 9/28/2046 EUR 64.207
Orpea SA 2.770 12/18/2028 EUR 68.526
Deutsche Bahn F 0.750 7/16/2035 EUR 74.916
Republic of Pol 1.750 4/25/2032 PLN 63.507
Cooperatieve Ra 0.625 2/25/2033 EUR 75.034
Autonomous Regi 1.095 9/27/2036 EUR 76.205
Kommunekredit 0.625 11/21/2039 EUR 73.916
Herens Midco Sa 5.250 5/15/2029 EUR 67.042
Communaute Fran 2.300 4/25/2089 EUR 81.426
Dexia Credit Lo 1.327 EUR 2.621
Erste Group Ban 0.500 01/12/2037 EUR 74.376
Realkredit Danm 0.500 10/01/2050 DKK 74.196
Unibail-Rodamco 2.000 5/29/2037 EUR 67.306
Genfit 3.500 10/16/2025 EUR 24.161
Privatbank CJSC 10.250 1/23/2018 USD 3.839
BP Capital Mark 1.104 11/15/2034 EUR 73.881
Lehman Brothers 5.125 EUR 17.127
Claranova SE 5.000 07/01/2023 EUR 1.130
Land Berlin 0.350 09/09/2050 EUR 59.101
Russian Foreign 5.875 9/16/2043 USD 24.755
Fuerstenberg Ca 1.020 EUR 58.066
Prosus NV 3.832 02/08/2051 USD 62.925
Thomas Cook Fin 3.875 7/15/2023 EUR 0.868
MHP Lux SA 6.250 9/19/2029 USD 53.138
Realkredit Danm 1.500 10/01/2053 DKK 73.996
Beyond Housing 2.125 5/17/2051 GBP 69.543
Aeroports de Pa 2.125 10/11/2038 EUR 75.412
TotalEnergies C 1.618 5/18/2040 EUR 74.042
National Grid G 1.125 1/14/2033 GBP 72.626
Cooperatieve Ra 0.010 11/27/2040 EUR 62.689
RTE Reseau de T 1.125 07/08/2040 EUR 68.291
Prosus NV 4.987 1/19/2052 USD 73.937
Severstal OAO V 3.150 9/16/2024 USD 10.000
Nostrum Oil & G 8.000 7/25/2022 USD 23.379
Zurich Finance 1.625 6/17/2039 EUR 74.447
Societe Du Gran 0.700 10/15/2060 EUR 49.862
Serbia Internat 2.125 12/01/2030 USD 74.083
Lehman Brothers 5.750 EUR 7.000
Lukoil Internat 4.750 11/02/2026 USD 60.457
Standard Charte 4.300 USD 74.600
Jain Internatio 7.125 3/31/2026 USD 27.547
Deutsche Wohnen 0.500 04/07/2031 EUR 73.277
Verimatrix SA 6.000 6/29/2022 EUR 3.692
EXOR NV 1.750 10/14/2034 EUR 75.422
Sberbank of Rus 5.125 10/29/2022 USD 9.981
United Utilitie 1.750 02/10/2038 GBP 74.720
Ukraine Governm 7.750 09/01/2025 USD 28.665
UK Municipal Bo 1.625 8/26/2060 GBP 64.298
Gazprom PJSC vi 4.599 USD 16.000
EYEMAXX Real Es 5.500 9/24/2024 EUR 2.876
Flughafen Zuric 0.200 2/26/2035 CHF 73.857
Guinness Partne 2.000 4/22/2055 GBP 66.356
Interpipe Holdi 8.375 5/13/2026 USD 44.000
Societe Du Gran 1.000 11/26/2051 EUR 64.322
Nordiska Kredit 8.816 SEK 71.377
WD Invest Sarl 1.900 10/02/2024 EUR 11.232
Gazprom PJSC Vi 4.950 3/23/2027 USD 29.172
European Financ 0.700 1/20/2050 EUR 65.231
Mitsubishi UFJ 3.802 12/30/2099 EUR 3.650
Ministeries Van 1.000 1/23/2051 EUR 65.705
Societe Nationa 0.875 2/28/2051 EUR 58.826
MHP SE 7.750 05/10/2024 USD 54.188
VF Ukraine PAT 6.200 02/11/2025 USD 67.120
Kommunekredit 0.010 05/04/2034 EUR 75.605
Hamon & CIE SA 3.300 1/31/2035 EUR 46.000
Gazprom PJSC Vi 8.625 4/28/2034 USD 38.600
Debenhams PLC 5.250 7/15/2021 GBP 0.500
Basque Governme 1.375 10/31/2070 EUR 50.192
Finland Governm 0.125 4/15/2036 EUR 75.989
Berner Kantonal 0.100 9/30/2039 CHF 66.849
Telenor ASA 0.875 2/14/2035 EUR 75.599
United Utilitie 1.875 06/03/2042 GBP 71.286
Wales & West Ut 1.875 5/28/2041 GBP 69.171
Canton of Ticin 0.400 6/27/2044 CHF 68.746
Onward Homes Lt 2.125 3/25/2053 GBP 68.889
State of North 0.600 06/04/2041 EUR 72.094
Ukraine Governm 7.253 3/15/2033 USD 27.293
Phosagro OAO Vi 3.949 4/24/2023 USD 29.945
Gol Finance SA 7.000 1/31/2025 USD 69.625
NET4GAS sro 2.750 7/17/2025 CZK 70.791
Ukraine Governm 10.950 11/01/2023 UAH 78.093
BPCE SA 3.582 10/19/2042 USD 73.517
LEG Immobilien 1.500 1/17/2034 EUR 71.295
LEG Immobilien 0.875 3/30/2033 EUR 68.279
Jababeka Intern 6.500 10/05/2023 USD 65.930
SABIC Capital I 3.000 9/14/2050 USD 70.530
Land Berlin 0.125 11/24/2045 EUR 59.504
Tresu Investmen 5.000 01/02/2025 EUR 48.790
Nordea Kredit R 0.500 10/01/2050 DKK 74.277
Raiffeisen-Land 0.500 5/27/2041 EUR 68.483
Societe Du Gran 1.000 2/18/2070 EUR 50.999
Niedersachsen I 0.250 7/16/2035 EUR 75.474
Holcim Finance 1.375 10/08/2036 EUR 69.700
DLR Kredit A/S 1.000 10/01/2050 DKK 73.649
State of Saxony 0.500 3/24/2051 EUR 62.213
Prologis Intern 0.750 3/23/2033 EUR 70.485
Jyske Realkredi 0.500 10/01/2050 DKK 74.346
Stichting Afwik 6.250 10/26/2020 EUR 5.375
City of Lausann 0.540 11/06/2062 CHF 51.807
Sanctuary Capit 2.375 4/14/2050 GBP 74.694
State of Rhinel 0.375 03/10/2051 EUR 58.991
City of Lausann 0.680 03/11/2058 CHF 59.628
NRW Bank 0.100 07/09/2035 EUR 74.040
Aster Treasury 1.405 1/27/2036 GBP 74.083
Canton of Genev 0.500 10/31/2056 CHF 58.277
Junta de Castil 1.275 04/07/2049 EUR 64.251
State of Bremen 0.450 2/24/2051 EUR 60.957
DSV Finance BV 0.750 07/05/2033 EUR 74.316
Linde PLC 0.375 9/30/2033 EUR 74.674
Turkey Governme 5.750 05/11/2047 USD 66.147
Stichting Afwik 11.250 EUR 0.622
Severstal OAO V 5.900 10/17/2022 USD 18.000
State of North 0.375 09/02/2050 EUR 59.113
Sovereign Housi 2.375 11/04/2048 GBP 75.805
Autonomous Comm 2.965 09/08/2039 JPY 66.744
Cie de Financem 0.600 10/25/2041 EUR 70.901
Cadent Finance 2.750 9/22/2046 GBP 72.449
Rallye SA 1.000 2/28/2032 EUR 15.715
Gazprom PJSC vi 2.950 1/27/2029 USD 27.126
Polski Koncern 2.875 3/25/2031 PLN 67.486
State of Brande 0.300 10/04/2049 EUR 58.651
LSF9 Balta Issu 3.000 12/31/2030 EUR 57.234
Orpea SA 3.144 12/22/2025 EUR 70.377
Russian Foreign 5.625 04/04/2042 USD 29.096
City of Lausann 0.050 9/28/2054 CHF 47.812
Parnassia Groep 1.200 12/01/2051 EUR 72.626
Caisse Francais 0.500 10/01/2046 EUR 64.059
Development Ban 6.750 05/02/2024 USD 11.000
City of Zurich 0.250 11/24/2051 CHF 60.178
Suek Securities 3.375 9/15/2026 USD 13.738
Yuksel Insaat A 9.500 11/10/2015 USD 0.105
Region Auvergne 0.892 10/21/2041 EUR 74.104
Virgolino de Ol 11.750 02/09/2022 USD 0.500
Jyske Realkredi 0.500 10/01/2050 DKK 73.155
Iberia Lineas A 3.750 5/28/2027 EUR 75.291
Malta Governmen 1.800 8/28/2051 EUR 72.760
AXA Bank Europe 0.250 06/09/2040 EUR 66.764
Ukraine Governm 6.876 5/21/2029 USD 27.066
University of S 2.250 04/11/2057 GBP 72.128
Norwegian Air S 5.450 02/07/2023 SEK 41.264
Evan Group PLC 6.000 7/31/2022 EUR 62.498
Hungary Governm 3.125 9/21/2051 USD 66.319
National Grid E 2.000 4/17/2040 GBP 70.950
Fastighets AB B 1.293 03/03/2031 EUR 59.536
Credit Agricole 1.000 1/17/2045 EUR 69.075
Pfandbriefbank 0.250 10/06/2042 CHF 68.646
RTE Reseau de T 1.125 09/09/2049 EUR 56.986
Region of Piemo 0.093 11/27/2036 EUR 74.354
Luzerner Kanton 0.500 7/26/2041 CHF 72.445
Air Berlin PLC 6.750 05/09/2019 EUR 0.338
EDOB Abwicklung 7.500 04/01/2012 EUR 1.388
Unibail-Rodamco 2.000 4/28/2036 EUR 70.315
Canton of Neuch 0.300 7/19/2039 CHF 70.948
Zurich Finance 1.600 12/17/2052 EUR 73.652
Polski Fundusz 1.375 8/30/2027 PLN 72.948
Elli Finance UK 8.750 6/15/2019 GBP 65.125
Offshore Drilli 8.375 9/20/2020 USD 6.533
Republic of Ire 1.425 9/18/2119 EUR 62.659
ESFIL-Espirito 5.250 06/12/2015 EUR 0.111
Fresnillo PLC 4.250 10/02/2050 USD 73.720
Anadolu Efes Bi 3.375 6/29/2028 USD 69.430
Romanian Govern 3.875 10/29/2035 EUR 75.145
WPP Finance 201 2.875 9/14/2046 GBP 67.627
Landwirtschaftl 0.010 11/26/2040 EUR 64.813
Kraftwerk Eglis 1.695 6/27/2024 CHF 1.010
Transports Publ 0.450 12/29/2056 CHF 54.287
AK BARS Bank Vi 8.000 7/13/2022 USD 25.274
National Grid G 1.625 1/14/2043 GBP 60.602
Gazprom PJSC Vi 5.150 02/11/2026 USD 28.768
CCEP Finance Ir 1.500 05/06/2041 EUR 66.310
Iberdrola Finan 1.000 02/02/2037 EUR 70.248
Metinvest BV 8.500 4/23/2026 USD 59.000
State of North 1.000 10/16/2046 EUR 74.470
City of Lausann 0.600 07/06/2050 CHF 65.012
Pfandbriefbank 0.125 8/17/2040 CHF 69.240
Deutsche Lichtm 5.250 02/01/2027 EUR 4.070
Land Thueringen 0.125 1/13/2051 EUR 54.484
Canton of Neuch 0.100 10/29/2049 CHF 53.646
Region Wallonne 1.050 6/22/2040 EUR 75.273
Platform HG Fin 1.926 9/15/2041 GBP 73.346
Metinvest BV 7.750 10/17/2029 USD 62.000
Republic of Bel 7.625 6/29/2027 USD 13.929
Bourbon Corp 8.305 EUR 0.658
St Galler Kanto 0.100 10/10/2041 CHF 65.920
Barclays Bank P 12.000 9/24/2025 TRY 43.127
CCEP Finance Ir 0.875 05/06/2033 EUR 76.040
Thames Water Ut 2.375 4/22/2040 GBP 74.474
Deutsche Lichtm 5.750 01/01/2023 EUR 5.000
Andrade Gutierr 11.000 8/20/2021 USD 57.174
TotalEnergies C 1.535 5/31/2039 EUR 75.326
Banco Espirito 2.612 EUR 0.349
NAK Naftogaz Uk 7.625 11/08/2026 USD 32.868
State Agency of 6.250 6/24/2028 USD 28.141
Luzerner Kanton 0.400 3/15/2038 CHF 75.233
Sigma Holdco BV 5.750 5/15/2026 EUR 61.740
Polski Fundusz 1.750 06/07/2027 PLN 75.340
Civitas Propert 4.000 11/24/2022 EUR 65.000
Petrobras Globa 4.750 04/02/2038 EUR 69.664
Nederlandse Gas 0.750 10/13/2036 EUR 72.581
Avangardco Inve 10.000 10/29/2018 USD 0.348
de Volksbank NV 0.125 11/19/2040 EUR 64.869
DLR Kredit A/S 0.500 10/01/2053 DKK 72.249
Espirito Santo 6.875 10/21/2019 EUR 0.244
Praktiker AG 5.875 02/10/2016 EUR 0.069
Republic of Bel 6.378 2/24/2031 USD 14.250
Caisse Francais 0.375 2/13/2040 EUR 69.108
NRW Bank 0.500 6/17/2041 EUR 70.764
Banco Espirito 2.432 EUR 0.120
Transcapitalban 10.000 USD 65.360
Credit Mutuel A 0.875 03/11/2033 EUR 74.876
City of Lausann 0.600 11/30/2056 CHF 59.562
Ukraine Governm 15.840 2/26/2025 UAH 65.343
State of Schles 0.200 8/15/2039 EUR 68.656
Samhallsbyggnad 2.750 04/03/2040 EUR 35.533
Sovcombank Via 7.750 USD 3.657
Autonomous Comm 1.850 5/13/2061 EUR 63.831
Hacienda Invest 5.350 02/08/2028 USD 11.000
Novolipetsk Ste 4.700 5/30/2026 USD 35.000
Vier Gas Transp 0.500 09/10/2034 EUR 64.733
Fuerstenberg Ca 1.609 EUR 56.931
BNG Bank NV 0.805 6/28/2049 EUR 69.812
Pfandbriefbank 0.375 6/15/2046 CHF 67.433
Action Logement 0.750 7/19/2041 EUR 71.086
VTB Bank PJSC V 9.500 USD 8.193
Muenchener Hypo 0.010 11/02/2040 EUR 63.409
Veneto Banca Sp 9.878 12/01/2025 EUR 0.237
Hylea Group SA 7.250 12/01/2022 EUR 3.750
Hellas Telecomm 6.054 1/15/2015 USD 0.001
Nordea Kredit R 0.500 10/01/2053 DKK 72.411
Land Thueringen 0.200 09/12/2039 EUR 68.483
Nordea Kredit R 1.000 10/01/2053 DKK 66.784
Severn Trent Ut 0.010 12/16/2055 GBP 77.948
New World Resou 4.000 10/07/2020 EUR 0.234
New World Resou 8.000 04/07/2020 EUR 0.001
Basque Governme 1.000 10/31/2050 EUR 56.548
Region of Ile d 0.610 07/02/2040 EUR 71.358
German Pellets 7.250 11/27/2019 EUR 1.545
Turkey Governme 5.875 6/26/2031 USD 75.849
DLR Kredit A/S 1.000 10/01/2053 DKK 72.616
Bilt Paper BV 10.360 USD 1.704
UkrLandFarming 10.875 3/26/2018 USD 1.358
Societe Du Gran 0.875 05/10/2046 EUR 68.085
Stonewater Fund 1.625 09/10/2036 GBP 76.096
Ukreximbank Via 7.623 02/09/2023 USD 31.848
DZ Bank AG Deut 0.550 4/29/2024 EUR 51.830
Investitionsban 0.050 03/02/2035 EUR 74.747
Manchester Airp 2.875 9/30/2044 GBP 75.767
Free and Hansea 0.200 09/03/2049 EUR 57.035
Land Thueringen 0.375 12/01/2051 EUR 58.680
Kelag-Kaerntner 1.150 4/16/2041 EUR 68.597
Region de Bruxe 1.400 03/11/2054 EUR 68.722
Akademiska Hus 0.650 02/08/2044 CHF 72.248
Virgolino de Ol 10.500 1/28/2018 USD 0.455
Ministeries Van 0.125 10/15/2035 EUR 74.016
Ukraine Governm 9.990 5/22/2024 UAH 65.912
Western Power D 1.625 10/07/2035 GBP 72.837
Kommunekredit 0.500 7/30/2027 TRY 14.417
Malta Governmen 1.500 10/22/2045 EUR 74.730
Aragvi Finance 8.450 4/29/2026 USD 71.000
Russian Foreign 2.875 12/04/2025 EUR 17.509
BAWAG PSK Bank 0.375 3/25/2041 EUR 66.985
State of Saarla 0.050 11/05/2040 EUR 64.925
BPCE SFH SA 0.375 3/18/2041 EUR 67.936
Autonomous Comm 1.515 6/21/2051 EUR 65.977
Societe Central 2.500 5/15/2023 EUR 6.870
Aegon Bank NV 0.375 06/09/2036 EUR 74.375
Credit Bank of 7.500 10/05/2027 USD 20.658
Orbit Capital P 2.000 11/24/2038 GBP 76.400
Kuntarahoitus O 0.050 09/10/2035 EUR 73.893
LiveWest Treasu 2.250 10/10/2043 GBP 77.009
EOS Imaging SA 6.000 5/31/2023 EUR 7.250
Luzerner Kanton 0.250 8/28/2040 CHF 69.909
Borets Finance 6.000 9/17/2026 USD 31.966
Air Berlin PLC 5.625 05/09/2019 CHF 0.479
Caisse Francais 0.625 1/20/2042 EUR 70.433
Region Wallonne 0.500 6/22/2037 EUR 73.248
CRC Breeze Fina 6.110 05/08/2026 EUR 31.448
Wingholding Zrt 3.500 5/20/2030 HUF 73.675
Luzerner Kanton 0.160 12/23/2043 CHF 65.765
KTG Agrar SE 7.125 06/06/2017 EUR 1.746
Cooperatieve Ra 0.500 7/30/2043 MXN 12.089
Metinvest BV 7.750 4/23/2023 USD 66.250
Lehman Brothers 3.875 EUR 17.125
Deutsche Lichtm 5.750 12/01/2023 EUR 9.987
Serbia Internat 2.050 9/23/2036 EUR 60.730
Deutsche Bank A 1.750 10/30/2028 USD 75.230
Lehman Brothers 6.900 USD 3.986
Privatbank CJSC 11.000 02/09/2021 USD 1.000
Pfandbriefzentr 0.020 1/30/2040 CHF 68.478
EYEMAXX Real Es 5.500 7/22/2025 EUR 75.000
Kernel Holding 6.750 10/27/2027 USD 46.682
Covivio 0.875 1/20/2033 EUR 74.682
BNG Bank NV 0.250 11/22/2036 EUR 73.593
BNG Bank NV 0.125 07/09/2035 EUR 74.989
Ukraine Governm 10.000 8/23/2023 UAH 74.941
Cirio Finance L 7.500 11/03/2002 EUR 0.908
Aydem Yenileneb 7.750 02/02/2027 USD 73.302
Northern Powerg 2.250 10/09/2059 GBP 66.871
Northern Powerg 1.875 6/16/2062 GBP 60.055
MHP Lux SA 6.950 04/03/2026 USD 53.259
ABN AMRO Bank N 1.115 03/03/2042 EUR 76.371
DLR Kredit A/S 0.500 10/01/2050 DKK 73.198
French Republic 0.750 5/25/2052 EUR 63.805
European Primar 1.732 11/09/2055 GBP 67.345
Privatbank CJSC 10.875 2/28/2018 USD 3.630
Nationwide Buil 0.485 07/11/2044 CHF 68.438
Banco Espirito 6.875 7/15/2016 EUR 24.500
Rhaetische Bahn 0.050 08/03/2050 CHF 55.331
Standard Profil 6.250 4/30/2026 EUR 62.545
Cellnex Telecom 1.900 7/31/2029 EUR 72.723
BAWAG PSK Bank 0.010 11/19/2035 EUR 70.656
Realkredit Danm 0.500 10/01/2053 DKK 71.104
Land Berlin 0.100 1/18/2041 EUR 65.258
Gazprom PJSC Vi 3.125 11/17/2023 EUR 32.497
LiveWest Treasu 1.875 2/18/2056 GBP 64.103
Alno AG 8.500 5/14/2018 EUR 14.500
Dexia SA 1.342 EUR 3.165
Italy Buoni Pol 2.150 09/01/2052 EUR 70.485
Wrekin Housing 2.500 10/22/2048 GBP 76.416
Canton of Genev 0.050 8/27/2041 CHF 66.680
Nationale-Neder 0.375 03/04/2041 EUR 67.710
Raiffeisenlande 0.200 06/09/2036 EUR 69.220
Ukraine Governm 12.520 5/13/2026 UAH 63.833
Alfa Bank AO Vi 5.950 4/15/2030 USD 8.000
Albania Governm 3.500 11/23/2031 EUR 74.083
Ukraine Governm 7.750 09/01/2026 USD 28.625
Ukraine Governm 9.790 5/26/2027 UAH 81.145
Banque Cantonal 0.100 11/01/2044 CHF 61.105
Ministeries Van 0.875 3/21/2046 EUR 68.062
AXA Home Loan S 0.125 6/25/2035 EUR 73.410
Barclays Bank P 0.500 1/28/2033 MXN 29.453
Region Wallonne 0.650 1/16/2051 EUR 56.465
V-Bank AG 4.000 EUR 61.312
Canton of Neuch 0.350 7/14/2050 CHF 58.960
Canton of Zuric 0.100 6/23/2045 CHF 63.790
Republic of Bel 6.875 2/28/2023 USD 17.036
Kommunekredit 0.500 6/19/2039 DKK 70.109
Romanian Govern 2.750 4/14/2041 EUR 60.220
Raiffeisen Land 0.250 03/04/2036 EUR 73.300
Cirio Holding L 6.250 2/16/2004 EUR 1.691
Societe General 3.920 12/09/2036 AUD 71.085
Banca Popolare 2.821 12/20/2017 EUR 0.362
Vnesheconombank 5.942 11/21/2023 USD 5.684
Sovcombank Via 7.600 USD 4.700
Sberbank of Rus 5.250 5/23/2023 USD 12.472
Agrokor dd 9.875 05/01/2019 EUR 15.000
Spain Governmen 1.000 10/31/2050 EUR 60.711
City of Lausann 0.230 11/01/2060 CHF 46.455
National Grid E 2.000 9/16/2038 GBP 73.039
Achmea Bank NV 0.250 9/29/2036 EUR 72.617
London & Quadra 2.000 10/20/2038 GBP 75.834
Turkey Governme 4.875 4/16/2043 USD 63.155
Nationwide Buil 0.500 05/05/2041 EUR 69.261
State of North 0.750 8/16/2041 EUR 73.937
Bayerische Land 0.380 1/22/2031 EUR 80.266
Ukraine Governm 7.375 9/25/2032 USD 27.110
Polski Fundusz 2.000 03/05/2030 PLN 67.900
Bank Vontobel A 15.000 11/07/2022 EUR 43.200
Kairos Global S 1.900 07/03/2035 USD 72.677
Paradigm Homes 2.250 5/20/2051 GBP 72.425
Romanian Govern 4.000 2/14/2051 USD 67.151
Romania Governm 3.650 9/24/2031 RON 68.184
Cellnex Finance 3.875 07/07/2041 USD 68.933
Prosus NV 2.778 1/19/2034 EUR 71.912
State of Brande 0.600 10/13/2051 EUR 63.585
Republic of Bel 5.875 2/24/2026 USD 14.000
Peine GmbH 2.000 07/05/2023 EUR 44.500
Pfandbriefbank 0.250 4/25/2042 CHF 69.256
Deutsche Bahn F 3.350 1/20/2042 AUD 75.516
Ukraine Governm 7.750 09/01/2023 USD 35.000
Alpine Holding 5.250 07/01/2015 EUR 3.084
Sairgroup Finan 4.375 06/08/2006 EUR 1.583
LEG Immobilien 1.625 11/28/2034 EUR 69.235
Republic of Bel 6.200 2/28/2030 USD 13.833
Swissgrid AG 0.050 6/30/2050 CHF 49.284
Alitalia-Societ 5.250 7/30/2020 EUR 0.100
Tennor Finance 5.750 6/17/2024 EUR 75.000
Jaguar Land Rov 4.500 7/15/2028 EUR 73.119
Bank Nadra Via 8.250 7/31/2018 USD 0.208
SNCF Reseau 2.581 10/30/2047 SEK 76.901
Region Wallonne 1.250 6/22/2071 EUR 57.068
DLR Kredit A/S 0.500 10/01/2050 DKK 74.216
Wessex Water Se 1.250 01/12/2036 GBP 69.959
VPV Lebensversi 3.597 8/17/2026 EUR 66.134
Malta Governmen 1.200 5/13/2037 EUR 76.890
Kardan NV 6.325 2/21/2021 ILS 17.010
Bank Julius Bae 13.250 01/05/2023 USD 42.750
Eurotorg LLC Vi 9.000 10/22/2025 USD 31.250
Romanian Govern 2.000 1/28/2032 EUR 69.189
Canton of Genev 0.600 07/04/2046 CHF 70.487
Joh Friedrich B 6.250 6/18/2024 EUR 31.501
Hema Bondco II 8.500 1/15/2023 EUR 0.113
Ile-de-France M 0.200 11/16/2035 EUR 74.071
London & Quadra 2.750 7/20/2057 GBP 76.331
Societe General 1.137 1/26/2037 EUR 71.191
Banco Santander 2.118 EUR 1.563
Sidetur Finance 10.000 4/20/2016 USD 0.770
Raiffeisen Cent 7.250 12/01/2023 EUR 69.770
Hampshire Trust 7.250 05/10/2028 GBP 73.000
Landesbank Bade 0.290 10/18/2030 EUR 75.992
Ukraine Governm 6.750 6/20/2026 EUR 29.308
Ukraine Governm 7.750 09/01/2027 USD 28.412
Nationale-Neder 0.050 11/12/2040 EUR 64.539
Italy Buoni Pol 1.800 03/01/2041 EUR 74.354
LIB-Landesimmob 0.620 7/15/2041 EUR 70.609
Region de Bruxe 1.121 05/11/2071 EUR 54.251
Department of L 0.515 5/25/2040 EUR 67.237
Nykredit Realkr 1.000 10/01/2050 DKK 73.730
State of North 0.500 11/25/2039 EUR 72.451
Muenchener Hypo 0.250 05/02/2036 EUR 73.726
State of Bremen 0.150 9/14/2040 EUR 66.240
Banco de Sabade 3.150 3/30/2037 EUR 65.375
Frigoglass Fina 6.875 02/12/2025 EUR 53.621
Free and Hansea 0.250 2/18/2041 EUR 67.216
Polyus Finance 3.250 10/14/2028 USD 26.696
Grupo Antolin-I 3.500 4/30/2028 EUR 67.508
Ziggo Bond Co B 3.375 2/28/2030 EUR 71.709
Cooperatieve Ra 0.500 10/30/2043 MXN 11.908
Credit Bank of 8.875 USD 12.985
Evraz PLC 5.250 04/02/2024 USD 42.367
Raiffeisenlande 0.375 1/15/2035 EUR 76.311
Ukraine Governm 11.670 11/22/2023 UAH 77.468
Solarworld AG 9.691 2/24/2019 EUR 25.000
Corporate Comme 8.250 08/08/2014 USD 0.308
Romanian Govern 4.625 04/03/2049 EUR 73.139
Orient Express 2.000 USD 19.802
Argenta Spaarba 0.500 10/08/2041 EUR 68.851
Region de Bruxe 0.562 12/23/2065 EUR 42.856
Metinvest BV 5.625 6/17/2025 EUR 57.978
Autobahnen- und 0.100 7/16/2035 EUR 74.689
State of Lower 0.250 4/15/2036 EUR 74.770
Uralkali OJSC V 4.000 10/22/2024 USD 20.007
MMC Norilsk Nic 6.625 10/14/2022 USD 65.000
Jyske Realkredi 0.500 10/01/2053 DKK 71.137
City of Zurich 0.400 11/21/2046 CHF 67.840
Kommunekredit 0.375 02/03/2045 DKK 61.884
Norwegian Air S 6.375 11/15/2024 USD 48.176
Gazprom PJSC vi 3.897 EUR 14.253
Ukraine Governm 11.500 10/25/2023 UAH 75.355
Energizer Gamma 3.500 6/30/2029 EUR 72.695
VON Der Heydt S 1.000 4/30/2031 EUR 70.898
Boparan Finance 7.625 11/30/2025 GBP 70.567
Land Berlin 0.050 08/06/2040 EUR 65.008
Bayerische Land 0.250 3/21/2036 EUR 74.974
Credit Bank of 4.700 1/29/2025 USD 21.000
UniCredit Bank 0.010 1/21/2036 EUR 71.543
Del Monte Finan 6.625 5/24/2006 EUR 1.401
Region Bretagne 0.544 12/07/2036 EUR 75.291
MMC Norilsk Nic 2.550 09/11/2025 USD 51.356
Senivita Social 6.500 05/12/2025 EUR 5.510
Muenchener Hypo 0.250 3/29/2041 CHF 67.922
Vasakronan AB 3.300 1/14/2042 AUD 74.599
OGX Austria Gmb 8.375 04/01/2022 USD 0.032
Sovcombank Via 8.000 04/07/2030 USD 4.544
Ukraine Governm 4.375 1/27/2030 EUR 26.597
MFB Magyar Fejl 2.900 10/22/2031 HUF 64.987
Grand City Prop 2.000 10/25/2032 EUR 72.649
Caisse de Refin 0.250 02/07/2035 EUR 76.030
Kreditanstalt f 1.000 10/19/2050 EUR 66.554
Zorlu Yenileneb 9.000 06/01/2026 USD 72.760
Kantonsspital S 0.300 9/30/2036 CHF 73.738
Nostrum Oil & G 7.000 2/16/2025 USD 24.741
Blend Funding P 2.467 6/16/2061 GBP 69.846
Junta de Castil 1.270 10/31/2044 EUR 69.251
Hungary Governm 3.125 9/21/2051 USD 66.501
Cirio Finanziar 8.000 12/21/2005 EUR 0.372
Region de Bruxe 1.220 6/23/2053 EUR 67.066
UniCredit Bank 0.050 9/21/2035 EUR 72.105
Midland Heart C 1.831 08/12/2050 GBP 65.328
Romanian Govern 3.375 1/28/2050 EUR 61.496
Republic of Ire 0.740 11/27/2120 EUR 36.243
Windreich GmbH 6.500 7/15/2016 EUR 4.475
Virgin Media Se 4.125 8/15/2030 GBP 74.665
Altice France H 4.000 2/15/2028 EUR 70.091
Pfandbriefbank 0.250 5/17/2040 CHF 71.394
Land Baden-Wuer 0.125 11/19/2040 EUR 66.203
Kommunalbanken 3.095 6/28/2028 PLN 78.098
Espirito Santo 9.750 12/19/2025 EUR 0.324
Endo Luxembourg 6.125 04/01/2029 USD 73.696
Alfa Bank AO Vi 5.900 USD 7.949
EVN AG 0.850 10/15/2035 EUR 69.549
Bellis Finco PL 4.000 2/16/2027 GBP 72.352
Region Occitani 0.728 11/16/2037 EUR 74.704
Jain Internatio 7.125 02/01/2022 USD 21.017
Romanian Govern 2.875 4/13/2042 EUR 60.130
Waste Italia Sp 10.500 11/15/2019 EUR 0.550
Pfandbriefzentr 0.050 10/06/2043 CHF 64.014
Alpine Holding 6.000 5/22/2017 EUR 3.084
Romanian Govern 2.625 12/02/2040 EUR 59.801
Norske Skogindu 2.000 12/30/2115 EUR 0.113
Assistance Publ 1.125 4/16/2047 EUR 70.603
Kleopatra Holdi 6.500 09/01/2026 EUR 65.402
Societe General 10.000 4/28/2034 USD 63.000
Phosphorus Hold 10.000 04/01/2019 GBP 1.348
MMC Norilsk Nic 4.100 04/11/2023 USD 56.885
Sovcombank Via 3.400 1/26/2025 USD 5.199
Novatek OAO Via 4.422 12/13/2022 USD 50.000
LBI ehf 6.100 8/25/2011 USD 10.662
Bayerische Land 1.550 2/13/2040 EUR 64.762
BNG Bank NV 10.010 6/17/2025 TRY 41.871
Land Thueringen 0.250 03/05/2040 EUR 68.475
Evraz PLC 5.375 3/20/2023 USD 45.022
Barclays Bank P 1.218 06/03/2036 USD 65.000
Barclays Bank P 1.750 9/29/2032 USD 64.093
Prosus NV 2.031 08/03/2032 EUR 70.612
Deutsche Bank A 1.050 09/01/2031 EUR 72.538
Moby SpA 7.750 2/15/2023 EUR 71.946
Finmek Internat 7.000 12/03/2004 EUR 2.193
Romanian Govern 1.750 7/13/2030 EUR 72.082
Depfa Funding I 2.056 EUR 48.324
Saleza AS 9.000 07/12/2021 EUR 0.203
Department of P 0.664 12/20/2039 EUR 69.878
Ukraine Governm 12.520 5/13/2026 UAH 63.833
Fortum Oyj 3.500 06/03/2043 EUR 73.341
VTB Bank OJSC V 6.950 10/17/2022 USD 5.725
Metinvest BV 7.650 10/01/2027 USD 57.297
La Banque Posta 0.250 02/12/2035 EUR 75.231
Region Wallonne 1.225 09/02/2120 EUR 44.643
CBo Territoria 3.750 07/01/2024 EUR 4.670
Barclays Bank P 1.092 7/28/2031 USD 58.917
State Savings B 7.293 1/19/2024 USD 30.625
Assistance Publ 0.634 8/27/2045 EUR 63.713
Deutsche Bank A 0.687 10/11/2049 EUR 51.157
Hellas Telecomm 8.500 10/15/2013 EUR 0.834
Novolipetsk Ste 1.450 06/02/2026 EUR 33.751
Nobel Bidco BV 3.125 6/15/2028 EUR 69.333
Land Berlin 0.125 06/04/2035 EUR 75.074
HSE Finance Sar 5.625 10/15/2026 EUR 69.583
Ukraine Governm 7.375 9/25/2032 USD 27.138
Region of Venet 0.112 12/07/2046 EUR 70.275
Caisse Francais 0.010 10/19/2035 EUR 71.574
Magyar Export-I 2.500 5/23/2029 HUF 70.790
Pfandbriefbank 0.375 9/23/2043 CHF 69.795
Societe General 1.700 1/19/2031 USD 74.454
Prosus NV 1.985 7/13/2033 EUR 68.483
City of Zurich 0.250 5/26/2039 CHF 73.078
Republic of Arm 3.600 02/02/2031 USD 70.376
Serbia Internat 1.500 6/26/2029 EUR 73.513
Nationale-Neder 0.050 9/24/2035 EUR 72.511
BNP Paribas SA 1.590 2/23/2051 EUR 65.871
Realkredit Danm 0.500 10/01/2050 DKK 73.119
Dana Financing 3.000 7/15/2029 EUR 72.950
Kingdom of Belg 0.459 7/23/2079 EUR 37.357
Steilmann SE 7.000 9/23/2018 EUR 1.429
Ukraine Governm 9.700 12/08/2032 UAH 42.710
KTG Agrar SE 7.250 10/15/2019 EUR 1.746
Nordea Kredit R 0.500 10/01/2050 DKK 73.221
Free State of B 0.010 1/18/2035 EUR 74.802
Gazprom PJSC vi 1.500 2/17/2027 EUR 27.302
Solon SE 1.375 12/06/2012 EUR 0.745
Sihltal Zuerich 0.250 4/30/2036 CHF 71.428
Landeskreditban 0.610 11/17/2050 EUR 63.251
Eurogrid GmbH 0.875 11/20/2040 EUR 61.891
Eurochem Financ 5.500 3/13/2024 USD 39.989
State of Rhinel 0.600 10/24/2046 EUR 65.882
Heimstaden Bost 2.800 05/04/2035 EUR 72.210
Single Platform 0.915 2/15/2043 EUR 64.724
Cie de Financem 0.010 10/29/2035 EUR 71.693
Single Platform 1.220 8/24/2047 EUR 63.427
Banco Santander 1.000 10/01/2033 EUR 73.057
Region of Pays 0.877 10/28/2041 EUR 73.464
Ville de Paris 0.450 10/20/2045 EUR 62.012
Ile-de-France M 0.950 5/28/2041 EUR 74.819
Muenchener Hypo 0.050 8/13/2036 CHF 72.514
Irish Bank Reso 0.566 6/21/2016 EUR 0.566
WEB Windenergie 5.500 04/08/2023 EUR 30.000
State of Brande 0.125 1/26/2046 EUR 59.338
Maxeda DIY Hold 5.875 10/01/2026 EUR 72.625
Ukraine Governm 9.750 11/01/2028 USD 28.271
Czech Republic 1.750 6/23/2032 CZK 74.165
NRW Bank 1.150 9/16/2051 EUR 69.779
Ukraine Governm 15.840 2/26/2025 UAH 65.343
Communaute Fran 0.788 8/30/2049 EUR 58.491
MMC Norilsk Nic 3.375 10/28/2024 USD 51.504
Quintet Private 3.650 11/13/2023 EUR 59.430
MMC Norilsk Nic 2.800 10/27/2026 USD 50.986
Ctec II GmbH 5.250 2/15/2030 EUR 73.597
BOA Offshore AS 0.409 7/17/2047 NOK 5.262
Pfandbriefbank 0.500 1/25/2044 CHF 71.475
Assistance Publ 0.791 8/27/2051 EUR 60.211
State of Lower 1.000 9/15/2121 EUR 47.673
Alfa Bank AO Vi 5.500 10/26/2031 USD 7.546
Region de Bruxe 0.444 3/19/2057 EUR 45.588
Hospices Civils 0.597 11/24/2031 EUR 75.064
Bulgaria Govern 1.375 9/23/2050 EUR 60.716
CB First Invest 8.000 EUR 58.455
Ukraine Governm 8.994 02/01/2024 USD 29.455
Caisse Francais 1.110 9/21/2046 EUR 72.288
Nomura Bank Int 1.130 4/23/2036 EUR 70.731
Communaute Fran 0.626 8/24/2040 EUR 68.688
Cirio Del Monte 7.750 3/14/2005 EUR 0.315
Ideal Standard 6.375 7/30/2026 EUR 63.231
Romanian Govern 3.375 1/28/2050 EUR 61.639
Nordea Kredit R 0.500 10/01/2053 DKK 71.138
Hungary Governm 3.000 10/27/2038 HUF 55.406
Single Platform 0.363 2/15/2041 EUR 57.862
Morhomes PLC 2.508 2/19/2051 GBP 71.255
Norske Skogindu 7.000 12/30/2026 EUR 0.010
Nederlandse Wat 0.125 09/03/2035 EUR 74.373
Landesbank Hess 1.250 8/25/2036 EUR 71.900
DZ Bank AG Deut 11.680 8/26/2022 EUR 35.090
Havenbedrijf Ro 1.100 3/23/2051 EUR 66.712
Pfandbriefbank 0.500 6/22/2040 CHF 75.050
Free State of S 0.400 05/12/2036 EUR 76.359
BPCE SA 1.912 EUR 62.730
Ville de Paris 0.750 11/30/2041 EUR 71.155
Banco Espirito 6.900 6/28/2024 EUR 24.500
Region de Bruxe 1.029 1/14/2048 EUR 66.955
Barclays Bank P 1.139 1/27/2031 USD 60.118
Ville de Paris 0.850 08/04/2051 EUR 62.680
Bank of Vallett 3.750 6/15/2031 EUR 75.117
Hemso Fastighet 2.975 10/25/2038 SEK 76.674
Pescanova SA 8.750 2/17/2019 EUR 0.319
Free and Hansea 0.400 11/23/2051 EUR 59.217
Hungary Governm 1.500 11/17/2050 EUR 56.142
Kingdom of Belg 1.400 6/22/2053 EUR 73.895
HSBC Holdings P 0.950 12/09/2032 EUR 75.552
Kernel Holding 6.500 10/17/2024 USD 48.090
Societe General 10.000 10/01/2036 USD 64.500
UBS Group AG 2.370 2/25/2036 USD 72.238
Jyske Realkredi 1.500 10/01/2053 DKK 74.028
Turkey Governme 6.625 2/17/2045 USD 72.089
Ukraine Governm 10.000 8/23/2023 UAH 74.941
Hungary Governm 3.000 4/25/2041 HUF 52.899
Rio Forte Inves 4.000 7/22/2014 EUR 5.117
Grupo Isolux Co 1.000 12/30/2021 EUR 0.100
Kreditanstalt f 1.115 5/17/2041 EUR 75.581
BPCE SA 2.614 03/04/2036 AUD 67.874
Swissgrid AG 0.125 6/30/2036 CHF 72.037
Portugal Teleco 6.250 7/26/2016 EUR 0.285
Credit Bank of 3.875 9/21/2026 USD 24.000
City of St Gall 0.140 9/16/2044 CHF 64.907
Land Thueringen 0.100 07/09/2035 EUR 74.559
Free and Hansea 0.010 11/05/2035 EUR 72.945
State of Bremen 0.400 8/20/2049 EUR 60.756
Ahtium PLC 9.750 04/04/2017 EUR 0.726
Gazprom PJSC vi 1.850 11/17/2028 EUR 27.690
Deutsche Teleko 3.500 4/15/2041 AUD 66.103
Natixis SA 0.300 6/25/2048 USD 31.675
Decipher Produc 12.500 9/27/2019 USD 1.500
Norddeutsche La 1.100 10/13/2034 EUR 74.953
Vasakronan AB 1.000 6/15/2041 EUR 65.706
Veneto Banca Sp 6.944 5/15/2025 EUR 0.199
LFA Foerderbank 0.050 9/29/2034 EUR 73.938
Mondelez Intern 1.250 09/09/2041 EUR 62.355
State of Brande 0.500 11/21/2039 EUR 72.768
Hemso Fastighet 1.130 10/31/2039 EUR 70.699
Golden Gate AG 6.500 10/11/2014 EUR 31.000
Ahtium PLC 4.000 12/16/2015 EUR 0.586
Basque Governme 2.000 4/30/2059 EUR 70.241
Bromford Housin 2.554 3/17/2054 GBP 78.495
Global Ports Fi 6.500 9/22/2023 USD 11.050
National Grid E 1.151 2/20/2040 EUR 59.813
Sveriges Sakers 1.378 7/13/2046 SEK 63.808
Caisse des Depo 0.398 12/15/2050 EUR 59.975
Ministeries Van 0.634 11/19/2060 EUR 48.427
International F 0.500 6/29/2027 ZAR 64.751
State of Rhinel 0.375 04/01/2041 EUR 69.171
Spain Governmen 1.200 10/31/2040 EUR 75.055
Landesbank Bade 0.500 11/25/2030 EUR 76.940
Barclays Bank P 1.580 04/12/2039 EUR 74.150
Gazprombank JSC 4.500 5/14/2032 USD 59.081
Iceland Bondco 4.375 5/15/2028 GBP 68.156
Kommunekredit 1.336 10/01/2032 AUD 73.168
Banco Santander 0.200 5/13/2031 EUR 76.811
Canton of Genev 0.250 6/15/2040 CHF 71.462
Single Platform 1.548 10/31/2050 EUR 52.587
Veneto Banca Sp 6.411 EUR 0.345
Romanian Govern 2.000 4/14/2033 EUR 65.771
Compact Bidco B 5.750 05/01/2026 EUR 71.283
Assistance Publ 1.183 4/16/2050 EUR 68.929
Deutsche Teleko 3.500 09/06/2039 AUD 67.684
Novolipetsk Ste 4.500 6/15/2023 USD 40.726
JAB Holdings BV 3.750 5/28/2051 USD 70.166
Deutsche Bahn F 3.100 5/20/2041 AUD 74.675
Ukraine Governm 3.700 6/22/2023 USD 54.447
State of Bremen 0.550 02/04/2050 EUR 63.301
Transmission Fi 2.701 10/16/2037 EUR 77.351
Grand City Prop 2.800 2/25/2039 EUR 68.675
Italy Buoni Pol 0.950 03/01/2037 EUR 69.887
French Republic 0.500 5/25/2040 EUR 73.041
Stelius Befekte 3.100 9/17/2030 HUF 66.500
National Grid E 2.920 9/30/2044 AUD 73.990
SNCF Reseau 1.425 8/14/2119 EUR 49.024
Region Wallonne 1.865 05/10/2051 EUR 78.597
Pfandbriefzentr 0.450 02/11/2042 CHF 72.504
Jyske Realkredi 0.500 10/01/2053 DKK 72.356
Single Platform 1.250 8/15/2051 EUR 62.557
Master & Fellow 3.068 4/28/2065 GBP 78.418
Region Auvergne 0.800 5/22/2040 EUR 71.920
Polski Fundusz 1.500 9/30/2027 PLN 73.139
Jyske Realkredi 1.000 10/01/2053 DKK 66.698
Turkey Governme 1.500 10/09/2024 TRY #N/A N/A
Espirito Santo 3.125 12/02/2018 EUR 0.324
Agrokor dd 9.125 02/01/2020 EUR 15.000
Novolipetsk Ste 4.000 9/21/2024 USD 39.411
Societe General 3.310 11/29/2033 AUD 73.371
Emissionszentra 0.100 11/02/2038 CHF 71.664
Land Berlin 0.500 6/19/2047 EUR 66.084
Pescanova SA 5.125 4/20/2017 EUR 0.319
Pfandbriefbank 0.375 07/08/2039 CHF 74.324
Land Berlin 0.150 2/22/2036 EUR 73.815
Muenchener Hypo 0.400 08/11/2031 EUR 76.064
Boparan Finance 7.625 11/30/2025 GBP 72.542
National Grid E 2.500 7/24/2035 AUD 74.130
Vnesheconombank 6.025 07/05/2022 USD 5.000
Elli Finance UK 8.750 6/15/2019 GBP 65.125
Emissionszentra 0.300 11/25/2039 CHF 72.825
Region de Bruxe 0.765 7/15/2052 EUR 57.751
United Kingdom 1.625 10/22/2071 GBP 79.212
Erotik-Abwicklu 7.750 07/09/2019 EUR 0.779
BNP Paribas SA 3.750 06/12/2040 AUD 76.998
Alpine Holding 5.250 06/10/2016 EUR 3.084
German Pellets 7.250 07/09/2018 EUR 1.545
State of Brande 0.050 08/10/2040 EUR 64.972
Credit Agricole 1.550 09/08/2031 AUD 75.242
Takarek Mortgag 1.750 12/22/2026 HUF 73.200
Barclays Bank P 5.000 11/01/2029 BRL 64.084
Region de Bruxe 0.592 12/10/2061 EUR 46.500
Deutsche Bank A 13.750 6/20/2026 TRY 21.942
Hunland Feed Kf 2.880 7/21/2031 HUF 67.200
BNP Paribas SA 0.857 2/22/2036 EUR 68.159
Swisscom AG 0.245 11/20/2034 CHF 76.144
Region Wallonne 1.000 9/16/2059 EUR 55.707
Barclays Bank P 0.475 2/28/2034 USD 55.625
Polski Fundusz 1.375 9/30/2027 PLN 72.620
Centre Hospital 0.490 12/01/2036 EUR 73.114
Landesbank Bade 3.300 11/25/2022 EUR 37.660
Banque Cantonal 22.200 08/02/2022 CHF 59.540
Italy Buoni Pol 1.500 4/30/2045 EUR 66.801
Societe Nationa 1.280 3/27/2120 EUR 43.930
Odea Bank AS 7.625 08/01/2027 USD 64.756
VTB Bank OJSC V 6.250 6/30/2035 USD 21.704
Communaute Fran 1.397 7/18/2059 EUR 69.145
Single Platform 1.390 6/25/2044 EUR 68.135
Air Berlin Fina 8.500 03/06/2019 EUR 0.457
OTP Munkavallal 4.500 7/14/2031 HUF 72.135
Assistance Publ 0.683 3/19/2041 EUR 68.940
Andrade Gutierr 11.000 8/20/2021 USD 57.174
Societe Du Gran 1.149 04/08/2069 EUR 56.584
DLR Kredit A/S 0.500 10/01/2053 DKK 68.659
Single Platform 0.887 9/20/2039 EUR 67.415
BNP Paribas SA 0.500 11/16/2032 MXN 31.321
Nederlandse Wat 1.900 1/31/2035 AUD 70.055
Takarek Mortgag 3.000 10/22/2031 HUF 60.600
Ukraine Governm 9.990 12/10/2031 UAH 44.855
DZ Bank AG Deut 2.000 12/29/2031 EUR 73.760
SG Issuer SA 5.150 01/10/2025 EUR 71.630
Sequa Petroleum 5.000 4/29/2020 USD 30.250
Deutsche Bahn F 1.850 11/23/2043 EUR 76.843
Hemso Fastighet 3.020 9/14/2048 SEK 71.207
Premium Green P 1.000 7/25/2040 EUR 67.370
Belfius Bank SA 0.125 6/19/2034 EUR 75.758
Intelsat Jackso 9.750 7/15/2025 USD 42.125
Intelsat Jackso 8.500 10/15/2024 USD 42.125
State of Brande 0.300 11/17/2045 EUR 62.151
Swissgrid AG 0.200 6/29/2040 CHF 66.193
Ukraine Governm 12.520 5/13/2026 UAH 63.833
Cooperatieve Ra 0.500 10/29/2027 MXN 59.044
Serbia Internat 1.000 9/23/2028 EUR 73.743
Aralco Finance 10.125 05/07/2020 USD 3.010
BAE Systems PLC 3.000 9/15/2050 USD 70.123
Kantonsspital B 0.350 9/30/2036 CHF 73.992
State of Lower 0.815 9/22/2056 EUR 61.797
Credit Bank of 7.625 USD 15.000
DZ Bank AG Deut 1.000 2/13/2042 EUR 73.303
Vilogia SA d'HL 1.500 08/07/2034 EUR 71.659
Comunidad Foral 0.550 10/22/2035 EUR 74.392
Bank Gospodarst 6.000 6/25/2045 PLN 81.226
Sairgroup Finan 6.625 10/06/2010 EUR 1.958
Comunidad Foral 1.450 05/08/2040 EUR 76.155
New World Resou 8.000 04/07/2020 EUR 0.001
Depfa Funding I 6.500 EUR 63.757
Walliser Kanton 0.010 03/12/2035 CHF 74.212
Pfandbriefbank 0.375 1/24/2042 CHF 71.600
Grupo Isolux Co 6.000 12/30/2021 EUR 0.267
Espirito Santo 5.050 11/15/2025 EUR 0.324
A-TEC Industrie 8.750 10/27/2014 EUR 0.100
GN Store Nord A 1.970 03/03/2036 EUR 74.446
Ville de Paris 1.165 06/09/2053 EUR 66.811
State of North 1.850 3/18/2089 EUR 67.165
ESB Finance DAC 2.000 4/17/2044 EUR 72.313
DXC Capital Fun 0.950 9/15/2031 EUR 75.796
O1 Properties F 0.500 9/27/2028 USD 6.040
niiio finance g 4.000 5/31/2026 EUR 42.420
Erste Group Ban 1.230 5/29/2033 EUR 76.564
UniCredit Bank 0.428 11/19/2029 EUR 72.442
Rikshem AB 3.250 5/31/2041 AUD 71.423
CDC Habitat SEM 0.853 2/15/2041 EUR 53.425
Polyus Finance 4.700 1/29/2024 USD 26.962
Cie Generale de 0.350 12/29/2056 CHF 55.170
HOCHTIEF AG 2.300 4/26/2034 EUR 72.467
Societe General 8.600 7/29/2022 USD 33.200
Elecnor SA 3.025 9/30/2035 EUR 76.329
Cattles Ltd 8.125 07/05/2017 GBP 0.027
Aeroports de la 2.500 07/09/2036 EUR 74.250
Stichting Afwik 6.625 5/14/2018 EUR 5.375
Pharmacy Chain 13.500 11/30/2029 RUB 60.500
Duna Aszfalt Ut 2.990 10/17/2029 HUF 68.000
Senvion Holding 3.875 10/25/2022 EUR 0.256
State of Rhinel 0.375 7/20/2048 EUR 60.667
Mondelez Intern 0.625 09/09/2032 EUR 72.936
Land Berlin 0.625 7/15/2039 EUR 74.794
Windreich GmbH 6.250 03/01/2015 EUR 4.475
Deutsche Agrar 7.250 9/28/2018 EUR 0.718
VTB Bank PJSC 5.000 USD 68.000
Muenchener Hypo 0.125 09/05/2035 EUR 73.838
Sibur Securitie 2.950 07/08/2025 USD 31.735
Region Occitani 0.766 10/07/2041 EUR 69.963
Caisse Francais 0.726 10/29/2039 EUR 75.626
HPI AG 3.500 EUR 2.000
Grenke Finance 2.040 4/16/2029 EUR 75.204
Assa Abloy AB 0.650 8/28/2034 EUR 74.459
Grand Delta Hab 1.285 11/06/2040 EUR 57.041
Autonomous Comm 1.655 10/31/2050 EUR 69.720
Romanian Govern 3.375 02/08/2038 EUR 68.130
Romanian Govern 2.124 7/16/2031 EUR 71.794
BNP Paribas SA 0.500 9/29/2029 AUD 68.088
Credit Bank of 5.150 2/20/2024 EUR 20.222
Hypo Vorarlberg 1.520 07/08/2050 EUR 65.656
Duna House Hold 4.500 01/12/2032 HUF 77.765
Malta Governmen 1.400 8/20/2046 EUR 71.211
Raiffeisenlande 0.998 11/04/2033 EUR 75.548
Ukraine Governm 7.750 09/01/2024 USD 29.325
Region Bourgogn 0.945 5/20/2039 EUR 74.422
Single Platform 0.780 03/05/2039 EUR 66.461
Bayerische Land 1.680 12/18/2037 EUR 81.976
Rena GmbH 7.000 12/15/2015 EUR 2.096
Single Platform 1.040 6/25/2044 EUR 63.862
Elli Investment 12.250 6/15/2020 GBP 52.250
Banco Santander 0.010 10/01/2032 EUR 71.097
Takarek Mortgag 2.600 10/22/2028 HUF 68.500
EnBW Internatio 2.080 1/21/2041 EUR 67.858
Single Platform 0.930 2/15/2041 EUR 65.032
4iG Nyrt 2.900 3/29/2031 HUF 68.215
Citigroup Globa 7.300 1/18/2030 EUR 74.420
Credit Suisse A 4.600 3/31/2023 USD 8.400
Joh Friedrich B 7.750 11/11/2020 EUR 32.000
Norddeutsche La 0.675 2/25/2033 EUR 73.772
Vasakronan AB 1.770 10/26/2033 NOK 73.243
German Pellets 7.250 04/01/2016 EUR 1.545
Kingdom of Belg 1.170 05/12/2121 EUR 50.219
Region de Bruxe 1.810 3/22/2053 EUR 78.464
Emissionszentra 0.150 09/09/2041 CHF 69.183
Centre Hospital 0.950 02/05/2041 EUR 61.452
Assistance Publ 1.073 4/16/2045 EUR 71.412
Free and Hansea 0.300 9/16/2050 EUR 58.035
Virgolino de Ol 11.750 02/09/2022 USD 0.500
Finance and Cre 9.250 1/25/2019 USD 0.001
Barclays Bank P 17.000 9/27/2023 TRY 70.015
Ukreximbank Via 7.623 02/09/2023 USD 31.848
Landesbank Bade 5.300 2/13/2034 AUD 75.544
SCF Capital Des 3.850 4/26/2028 USD 20.505
Sibur Securitie 4.125 10/05/2023 USD 31.067
Gazprom PJSC 17.690 10/21/2043 RUB 70.000
Credit Suisse A 0.500 12/16/2025 BRL 66.368
Bpifrance SACA 1.046 5/25/2050 EUR 67.797
SiC Processing 7.125 03/01/2016 EUR 0.789
Single Platform 1.051 04/01/2042 EUR 65.131
Autonomous Comm 1.550 05/11/2051 EUR 66.279
Ukraine Governm 11.670 11/22/2023 UAH 77.468
National Grid E 3.120 12/10/2039 AUD 77.285
Grand Delta Hab 1.750 10/28/2061 EUR 65.785
Autonomous Comm 1.646 7/30/2060 EUR 60.689
Banco Santander 0.180 6/22/2031 EUR 76.319
Steilmann SE 6.750 6/27/2017 EUR 2.184
Single Platform 0.465 2/27/2035 EUR 69.636
Credit Agricole 3.750 06/09/2040 AUD 70.127
Muenchener Hypo 0.250 10/31/2044 CHF 62.815
UBS AG/London 7.800 11/17/2022 CHF 60.500
Russian Foreign 5.250 6/23/2047 USD 17.800
Region Bourgogn 0.895 5/20/2038 EUR 75.228
Pfandbriefbank 0.250 1/24/2041 CHF 70.555
Communaute Fran 2.177 8/17/2068 EUR 79.988
Solarwatt GmbH 7.000 11/01/2015 EUR 15.500
NRW Bank 1.000 6/24/2051 EUR 71.019
Region de Bruxe 1.065 6/22/2047 EUR 67.730
Harp Issuer PLC 1.400 2/14/2032 USD 68.704
Barclays Bank P 2.320 01/11/2041 USD 66.832
Czech Republic 2.000 10/13/2033 CZK 73.764
Kommunekredit 0.342 09/01/2042 EUR 66.957
GTC Magyarorsza 2.600 3/17/2031 HUF 67.690
Sibur Holding P 1.500 10/01/2032 USD 26.000
Sonnedix Energy 2.200 12/31/2038 EUR 74.500
Vontobel Financ 5.800 7/22/2022 USD 75.080
Turkey Governme 6.000 1/14/2041 USD 67.881
Barclays Bank P 0.360 8/15/2033 USD 55.559
State of Hesse 0.227 8/20/2049 EUR 56.830
KPNQwest NV 10.000 3/15/2012 EUR 0.453
Romanian Govern 3.500 04/03/2034 EUR 73.654
Bulgaria Steel 12.000 05/04/2013 EUR 0.216
Libra Internet 4.250 9/28/2028 EUR 73.304
State of Saxony 0.475 9/30/2050 EUR 61.915
Kuntarahoitus O 0.940 06/09/2064 EUR 71.885
Norske Skog Hol 8.000 2/24/2021 EUR 0.006
Deutsche Pfandb 0.857 9/18/2037 EUR 58.310
Credit Bank of 5.550 2/14/2023 USD 23.468
City of St Gall 0.560 4/23/2040 CHF 76.228
Muenchener Hypo 0.580 10/14/2035 EUR 69.425
Novafives SAS 5.000 6/15/2025 EUR 67.536
Region Nouvelle 0.814 11/22/2044 EUR 67.643
BNP Paribas SA 2.300 9/17/2027 PLN 74.208
Akademiska Hus 1.252 2/13/2043 SEK 59.659
Free State of S 0.010 12/17/2035 EUR 72.709
Kreditanstalt f 0.980 6/28/2051 EUR 72.755
Landesbank Bade 1.600 04/03/2039 EUR 75.313
Republic of Ire 0.835 07/08/2080 EUR 52.763
Ukraine Governm 8.750 4/20/2033 UAH 38.867
Thomas Cook Gro 6.250 6/15/2022 EUR 0.432
Aareal Bank AG 1.576 2/23/2032 EUR 75.310
Department of G 0.846 4/29/2039 EUR 73.196
Hemso Fastighet 0.473 2/18/2030 EUR 73.763
Lehman Brothers 2.234 10/05/2035 EUR 0.100
Pfandbriefbank 0.500 6/17/2041 CHF 74.131
Pfandbriefzentr 0.250 06/12/2040 CHF 71.392
DekaBank Deutsc 3.970 02/09/2023 EUR 59.830
Credit Suisse A 13.850 10/31/2022 USD 59.110
DZ Bank AG Deut 9.410 8/26/2022 EUR 22.140
BNP Paribas Iss 1.560 02/02/2039 EUR 55.970
BNP Paribas Iss 5.000 11/05/2024 EUR 38.510
Norske Skog Hol 8.000 2/24/2021 EUR 0.006
Ukraine Governm 6.000 11/06/2024 UAH 61.097
Single Platform 0.559 2/15/2047 EUR 52.971
Region de Bruxe 1.100 6/22/2066 EUR 55.603
Deutsche Wohnen 1.700 12/05/2036 EUR 66.931
Windreich GmbH 6.500 03/01/2015 EUR 4.475
Steilmann SE 7.000 03/09/2017 EUR 1.429
Caisse des Depo 1.015 7/22/2050 EUR 72.388
NRW Bank 0.106 8/17/2050 EUR 57.121
Mobile Telesyst 5.000 5/30/2023 USD 24.583
PJSC Koks via I 5.900 9/23/2025 USD 7.550
Emissionszentra 0.350 4/27/2040 CHF 74.024
Minicentrales D 0.010 06/06/2047 EUR 59.125
Single Platform 1.050 3/17/2039 EUR 68.968
ING Bank NV 2.900 6/23/2051 USD 71.014
BNP Paribas SA 3.580 7/23/2040 AUD 75.588
Credit Suisse A 0.900 12/20/2031 EUR 75.538
Single Platform 0.860 2/15/2040 EUR 64.827
Spain Governmen 0.850 7/30/2037 EUR 75.217
Credit Bank of 3.100 1/21/2026 EUR 20.053
Single Platform 1.370 7/25/2053 EUR 63.909
Batigere Grand 1.485 10/25/2039 EUR 60.160
Societe General 24.050 8/18/2022 USD 49.750
DekaBank Deutsc 7.650 03/10/2023 EUR 36.080
Landesbank Hess 1.300 09/02/2036 EUR 71.550
Vontobel Financ 7.500 12/23/2022 USD 54.370
OTP Munkavallal 4.500 7/14/2031 HUF 72.135
Skandinaviska E 6.400 1/15/2025 SEK 42.750
UniCredit SpA 1.490 10/23/2035 EUR 66.297
Norske Skog Hol 8.000 2/24/2023 USD 0.006
Rusal Capital D 4.850 02/01/2023 USD 40.523
Republic of Ire 0.995 2/24/2121 EUR 48.677
Vasakronan AB 2.400 6/20/2044 SEK 62.239
Die Schweizeris 0.370 3/17/2036 CHF 75.805
Liga Bank eG Re 0.010 1/29/2036 EUR 69.943
CDC Habitat SEM 1.170 05/04/2037 EUR 65.089
Kingdom of Belg 0.650 6/22/2071 EUR 46.825
Deutsche Bank A 1.725 1/16/2045 EUR 50.954
BNP Paribas SA 3.950 07/11/2039 AUD 75.386
Sibur Securitie 3.450 9/23/2024 USD 24.705
NRW Bank 1.182 08/07/2050 EUR 74.073
Single Platform 1.510 2/13/2043 EUR 71.000
La Banque Posta 0.640 1/27/2042 EUR 73.918
Nordea Hypotek 2.250 10/15/2048 SEK 71.312
Vasakronan AB 2.777 04/12/2039 SEK 75.005
Tonon Luxembour 12.500 5/14/2024 USD 0.399
Skandinaviska E 9.600 1/15/2024 SEK 66.090
Communaute Fran 0.749 9/16/2080 EUR 55.419
Kingdom of Belg 0.400 6/22/2040 EUR 70.029
Ukraine Governm 8.880 05/10/2032 UAH 40.414
Credit Agricole 4.400 2/24/2042 AUD 71.927
Virgolino de Ol 10.875 1/13/2020 USD 36.000
MS Deutschland 6.875 12/18/2017 EUR 0.610
Russian Railway 18.100 5/30/2040 RUB 50.010
Skandinaviska E 9.200 7/15/2024 SEK 56.210
Natixis SA 2.920 09/05/2039 AUD 69.268
Grand Delta Hab 1.425 2/26/2048 EUR 50.544
Nykredit Realkr 1.000 10/01/2050 DKK 76.802
BNG Bank NV 2.300 03/03/2036 AUD 72.252
City of Kyiv Vi 7.500 12/15/2022 USD 36.382
Banque Internat 2.120 8/20/2040 EUR 75.290
Kommunekredit 0.869 11/12/2043 SEK 65.398
Heimstaden Bost 2.800 05/04/2035 EUR 73.879
State of Saarla 0.500 3/15/2051 EUR 61.681
Credit Agricole 3.000 1/28/2041 AUD 56.503
DZ HYP AG 1.300 7/18/2041 EUR 77.792
UniCredit SpA 1.050 1/23/2031 EUR 75.416
State of Hesse 0.450 9/23/2044 EUR 64.811
DNB Bank ASA 1.185 1/14/2038 EUR 68.493
Deutsche Bank A 0.700 10/07/2031 EUR 69.501
State of Lower 0.050 03/09/2035 EUR 74.852
Transports Publ 0.320 10/28/2037 CHF 64.811
Nederlandse Wat 0.750 10/04/2041 EUR 74.034
DZ HYP AG 1.430 10/26/2046 EUR 76.130
Hypo Vorarlberg 0.920 07/08/2036 EUR 70.329
Assistance Publ 0.750 12/03/2041 EUR 68.856
VTB Bank PJSC 5.587 USD 54.001
Banque Cantonal 12.360 6/27/2023 CHF 71.940
Regie Autonome 0.875 8/18/2080 EUR 53.925
Ukraine Governm 3.890 02/02/2023 USD 68.441
Chelyabinsk Pip 4.500 9/19/2024 USD 10.477
Region Wallonne 1.000 6/22/2045 EUR 66.454
Deutsche Bank A 0.700 10/28/2031 EUR 72.026
Caisse des Depo 1.365 11/02/2051 EUR 75.362
Caisse des Depo 0.916 1/20/2051 EUR 66.148
Single Platform 1.340 05/10/2044 EUR 67.570
Portugal Obriga 1.000 04/12/2052 EUR 58.521
Espirito Santo 1.097 10/27/2024 EUR 0.297
Region Hauts-de 0.402 2/18/2043 EUR 62.879
Muenchener Hypo 1.300 05/07/2061 EUR 71.766
Department of B 1.068 5/21/2048 EUR 68.588
Societe Nationa 2.842 3/31/2036 AUD 76.734
Sweden Governme 0.500 11/24/2045 SEK 73.583
Agrokor dd 9.875 05/01/2019 EUR 15.000
UBS AG/London 0.904 11/23/2025 EUR 63.750
Kreditanstalt f 1.270 6/29/2051 EUR 75.154
Kreditanstalt f 1.100 9/16/2051 EUR 69.064
FLUVIUS System 0.810 04/08/2033 EUR 75.185
Carmila SA 1.890 11/06/2031 EUR 67.092
WEB Windenergie 4.500 EUR 0.010
DZ Bank AG Deut 0.440 1/21/2036 EUR 68.184
Muenchener Hypo 1.172 10/30/2047 EUR 75.130
Credit Suisse A 0.800 10/15/2031 EUR 75.491
Russian Federal 0.250 7/20/2044 RUB 15.000
Bank J Safra Sa 7.750 12/22/2022 CHF 70.490
Takarek Mortgag 3.000 8/21/2030 HUF 63.500
Landesbank Hess 1.500 10/20/2036 EUR 72.300
DZ Bank AG Deut 4.690 11/25/2022 EUR 40.500
Credit Suisse A 20.000 11/29/2024 USD 11.150
Credit Suisse A 6.100 09/08/2022 USD 9.450
Leonteq Securit 8.610 7/20/2022 CHF 64.550
Nederlandse Wat 2.340 04/10/2047 SEK 74.936
Virgolino de Ol 10.500 1/28/2018 USD 0.010
OGX Austria Gmb 8.500 06/01/2018 USD 0.008
State of Meckle 0.239 11/17/2070 EUR 43.798
Specialfastighe 2.205 10/11/2038 SEK 75.938
Deutsche Bank A 0.650 06/03/2031 EUR 75.610
Region of Centr 0.712 12/03/2039 EUR 70.605
Department of G 0.650 12/17/2038 EUR 71.206
Single Platform 0.740 04/01/2042 EUR 62.267
Deutsche Bank A 0.500 9/16/2031 EUR 75.449
Deutsche Wohnen 1.250 7/31/2031 EUR 76.094
Ministeries Van 0.875 06/03/2045 EUR 68.062
Single Platform 0.946 5/25/2036 EUR 72.164
Canton of Genev 0.300 11/28/2039 CHF 73.021
Berner Oberland 0.450 5/30/2036 CHF 74.990
Bank J Safra Sa 7.000 7/21/2022 CHF 72.320
Skandinaviska E 8.520 1/15/2024 SEK 64.050
Pfandbriefbank 0.250 3/15/2041 CHF 70.604
Kreditanstalt f 1.171 7/19/2051 EUR 73.174
Polyus Finance 5.250 02/07/2023 USD 25.137
Ile-de-France M 1.586 2/23/2052 EUR 75.671
Dtek Renewables 8.500 11/12/2024 EUR 41.479
Region Hauts-de 0.691 07/09/2042 EUR 67.414
National Grid E 1.690 9/16/2041 GBP 64.414
Ukraine Governm 12.300 07/03/2024 UAH 70.661
Free State of B 0.010 3/28/2036 EUR 71.587
Societe General 9.000 6/15/2023 USD 38.000
Luzerner Kanton 13.700 9/29/2022 EUR 63.070
Landesbank Bade 3.480 2/24/2023 EUR 40.210
UBS AG/London 12.660 1/17/2024 USD 7.062
Skandinaviska E 7.450 1/15/2025 SEK 45.390
Szinorg Univers 3.000 5/15/2030 HUF 62.821
Bayer Construct 3.700 10/21/2031 HUF 66.775
Caixa Economica 5.000 EUR 50.020
Single Platform 1.850 2/15/2041 NOK 73.839
Italy Buoni Pol 1.700 09/01/2051 EUR 64.799
Purple Protecte 2.100 4/15/2060 EUR 66.289
Region of Pays 0.448 9/25/2040 EUR 65.858
Batigere Grand 1.345 4/18/2032 EUR 76.150
Slovenia Govern 1.175 2/13/2062 EUR 61.086
MFB Magyar Fejl 4.200 4/20/2033 HUF 69.933
Swiss Confedera 0.500 5/24/2055 CHF 73.333
SpareBank 1 Nor 1.580 3/13/2034 EUR 75.276
Raiffeisen Bank 0.370 02/03/2033 EUR 71.953
Deutsche Pfandb 0.710 09/10/2031 EUR 73.299
Communaute Fran 1.581 1/23/2120 EUR 53.024
Ville de Paris 1.165 06/09/2053 EUR 66.914
Norddeutsche La 1.600 08/01/2039 EUR 75.085
Windreich GmbH 6.750 03/01/2015 EUR 4.475
Municipality of 0.605 2/24/2040 EUR 73.840
Virgolino de Ol 10.875 1/13/2020 USD 36.000
Deutsche Bahn F 2.005 06/07/2039 SEK 73.914
Wellis Magyaror 3.000 2/26/2031 HUF 68.831
Specialfastighe 2.375 6/25/2048 SEK 71.575
Caisse des Depo 1.075 9/15/2050 EUR 73.508
Italy Buoni Pol 2.150 03/01/2072 EUR 64.559
Aargau Verkehr 0.270 11/29/2049 CHF 66.567
DekaBank Deutsc 1.585 12/28/2035 EUR 73.084
Credit Suisse A 7.370 12/28/2022 USD 9.570
SFO Social Deve 10.210 01/08/2027 RUB 60.050
DekaBank Deutsc 8.100 8/26/2022 EUR 49.650
JP Morgan Struc 11.000 12/30/2026 ZMW #N/A N/A
COFIDUR SA 0.100 12/31/2024 EUR 25.050
Trans-Sped Logi 2.500 3/16/2030 HUF 66.755
DZ Bank AG Deut 0.600 2/19/2036 EUR 74.342
Turkiye Ihracat 12.540 9/14/2028 TRY 39.906
Single Platform 1.150 5/25/2066 EUR 53.018
Single Platform 0.745 2/15/2047 EUR 56.061
Autonomous Comm 1.138 11/22/2052 EUR 57.380
State of Bremen 0.500 05/06/2041 EUR 70.261
Caisse Francais 1.093 10/14/2051 EUR 72.338
Muenchener Hypo 0.550 2/18/2046 CHF 53.546
Norske Skogindu 7.125 10/15/2033 USD 0.010
Ville de Paris 0.650 11/25/2070 EUR 43.694
TBI Bank EAD 5.250 7/30/2031 EUR 56.808
Russian Foreign 4.375 3/21/2029 USD 18.989
Credit Suisse A 4.710 8/24/2022 USD #N/A N/A
Russian Railway 7.850 07/10/2028 RUB 75.090
Communaute Fran 1.040 7/19/2101 EUR 52.392
Akademiska Hus 2.305 5/16/2040 SEK 76.057
Banca dell Elba 4.890 12/16/2032 EUR 72.717
Romanian Govern 4.000 2/14/2051 USD 67.436
Unibail-Rodamco 2.000 12/05/2033 EUR 72.083
UBS AG/London 0.120 5/25/2040 MXN 13.066
Svensk Exportkr 0.500 6/20/2029 AUD 74.531
Willhem AB 1.824 10/18/2038 SEK 63.033
Royal Schiphol 2.890 10/25/2034 AUD 72.997
Bank Severnyy M 12.000 RUB 75.000
Landesbank Hess 0.900 11/20/2035 EUR 73.000
Societe General 8.500 10/28/2022 EUR 68.850
Barclays Bank P 10.200 2/16/2023 USD 41.800
KESZ Holding Bu 4.100 11/17/2031 HUF 75.155
Nordea Bank Abp 4.000 1/20/2029 SEK 67.340
Department of L 0.959 11/25/2037 EUR 76.801
Banque Federati 2.460 06/07/2032 AUD 76.237
Republic of Bel 7.625 6/29/2027 USD 14.071
Credit Suisse A 0.875 5/21/2031 EUR 75.776
Banque Internat 1.000 2/18/2036 EUR 74.655
SCF Capital Des 5.375 6/16/2023 USD 20.000
DNB Boligkredit 0.980 6/20/2044 EUR 70.641
Landesbank Hess 1.340 06/04/2042 EUR 68.758
Autonomous Comm 1.250 10/31/2040 EUR 72.713
La Veggia Finan 7.125 11/14/2004 EUR 0.287
Single Platform 1.800 7/25/2053 EUR 74.649
BPCE SA 2.315 11/19/2035 AUD 64.051
Caisse des Depo 0.945 5/19/2051 EUR 68.404
State of Lower 0.460 10/08/2049 EUR 58.844
Romania Governm 4.750 10/11/2034 RON 69.945
Romanian Govern 1.375 12/02/2029 EUR 72.882
Republic of Ire 1.230 6/23/2121 EUR 53.871
Banque Internat 1.300 1/15/2041 EUR 72.046
Ukraine Governm 9.700 06/02/2032 UAH 43.267
Commerzbank AG 2.350 2/24/2042 EUR 73.686
Cooperatieve Ra 0.500 1/31/2033 MXN 35.065
Hungary Governm 4.000 4/28/2051 HUF 55.972
Kommunekredit 2.180 7/16/2040 AUD 69.308
Communaute Fran 1.600 6/22/2047 EUR 75.526
Caisse Francais 0.865 2/17/2042 EUR 75.520
Hellas Telecomm 6.054 1/15/2015 USD 0.001
DNB Boligkredit 1.080 5/16/2039 EUR 76.939
Landesbank Hess 1.000 03/06/2035 EUR 73.650
GVC George's Ve 2.500 12/18/2030 HUF 70.375
Credit Suisse A 24.000 1/16/2024 USD 46.100
Russian Railway 18.830 5/20/2044 RUB 55.010
Futureal Develo 3.500 11/16/2036 HUF 74.000
JP Morgan Struc 12.000 8/28/2026 ZMW #N/A N/A
Skandinaviska E 7.000 1/15/2024 SEK 72.380
Kreditanstalt f 1.027 10/26/2050 EUR 72.373
Region of Centr 0.924 11/02/2043 EUR 70.292
Nederlandse Wat 0.190 11/02/2050 EUR 57.940
Raiffeisen Bank 0.290 11/11/2030 EUR 76.622
Region de Bruxe 0.540 9/13/2044 EUR 62.171
Deutsche Bank A 1.750 04/09/2035 EUR 68.486
Kingdom of Belg 0.558 9/24/2077 EUR 41.045
Region Auvergne 0.805 7/26/2039 EUR 72.330
Caisse Francais 0.510 11/19/2040 EUR 69.548
Rena GmbH 8.250 07/11/2018 EUR 2.096
Ukraine Governm 3.700 12/22/2022 USD 69.540
BNP Paribas SA 2.670 3/13/2030 AUD 76.412
UBS AG/London 1.860 2/28/2049 EUR 74.777
Erste Group Ban 1.065 5/17/2041 EUR 65.781
Santander Inter 1.192 12/07/2045 EUR 64.955
Erste Group Ban 1.170 1/28/2037 EUR 73.115
Region Wallonne 1.135 10/10/2069 EUR 53.347
Berlin Hyp AG 0.625 6/30/2031 EUR 76.209
Single Platform 0.932 6/15/2039 EUR 68.348
getgoods.de AG 7.750 10/02/2017 EUR 0.527
BPCE SA 2.550 06/09/2035 AUD 66.956
Assistance Publ 1.099 04/06/2071 EUR 52.542
Single Platform 1.340 6/20/2041 EUR 74.436
Centre Hospital 0.800 6/28/2041 EUR 69.998
Santander Inter 1.365 1/28/2061 EUR 58.102
Turkey Governme 10.600 02/11/2026 TRY 72.400
Ukraine Governm 10.000 8/23/2023 UAH 74.941
Kreditanstalt f 0.730 1/21/2050 EUR 70.958
Parnassia Groep 1.470 12/03/2046 EUR 66.803
Kreditanstalt f 0.613 06/10/2040 EUR 69.220
Vasakronan AB 2.084 8/26/2030 AUD 75.838
Takarek Mortgag 3.000 1/28/2036 HUF 50.900
SG Issuer SA 7.500 1/20/2025 SEK 28.690
Russian Railway 18.830 11/29/2028 RUB 60.010
Russian Railway 18.830 06/08/2028 RUB 55.010
Banque Internat 15.000 01/05/2023 EUR 44.670
Leonteq Securit 8.380 7/20/2022 CHF 31.690
Wingholding Zrt 3.000 9/22/2031 HUF 56.950
Landesbank Hess 0.975 9/17/2036 EUR 72.500
Credit Suisse A 12.250 10/05/2026 USD 73.500
MET Hungary Sol 3.800 12/02/2031 HUF 67.100
Landesbank Bade 2.410 8/26/2022 EUR 66.330
Landesbank Hess 1.000 3/13/2035 EUR 75.000
Basque Governme 1.750 4/22/2050 EUR 70.684
Landesbank Hess 0.620 4/18/2036 EUR 72.361
Intelsat Jackso 9.750 7/15/2025 USD 42.125
Russian Agricul 8.500 10/16/2023 USD 9.659
Romania Governm 2.500 10/25/2027 RON 74.302
Republic of Pol 0.250 10/25/2026 PLN 74.642
Landesbank Hess 1.050 11/17/2060 EUR 67.322
Single Platform 0.780 2/15/2040 EUR 64.453
Bilt Paper BV 10.360 USD 1.704
Land Baden-Wuer 0.375 7/20/2048 EUR 61.676
Ukraine Governm 3.700 5/25/2023 USD 56.915
New World Resou 4.000 10/07/2020 EUR 0.234
Elia Transmissi 1.560 1/30/2044 EUR 72.674
Metropole de Ly 0.540 12/07/2050 EUR 56.020
Romanian Govern 2.000 1/28/2032 EUR 68.978
Region Nouvelle 0.630 11/22/2039 EUR 70.134
Single Platform 0.656 9/20/2050 EUR 51.561
Autonomous Comm 1.744 07/01/2061 EUR 61.640
Kreditanstalt f 1.267 3/22/2051 EUR 77.521
Ville de Paris 0.963 06/08/2050 EUR 65.439
Erdoel-Lagerges 1.200 06/04/2043 EUR 77.535
Dyadya Doner OO 13.500 4/25/2023 RUB 16.990
Credit Suisse A 4.450 6/28/2023 USD 9.210
Credit Suisse A 5.800 7/26/2023 USD 9.290
Credit Agricole 3.270 10/05/2041 AUD 60.526
Bausparkasse Wu 0.485 6/25/2040 EUR 68.030
Societe Nationa 3.190 4/19/2041 AUD 75.908
Norddeutsche La 1.390 07/09/2038 EUR 70.051
NRW Bank 1.000 2/26/2050 EUR 74.873
French Republic 0.750 5/25/2053 EUR 62.274
Landesbank Bade 0.710 05/12/2036 EUR 65.262
Ukraine Governm 15.500 09/11/2024 UAH 77.280
Credit Suisse A 0.500 01/08/2026 BRL 66.005
Parnassia Groep 1.430 12/01/2043 EUR 67.582
Region Auvergne 0.493 10/23/2037 EUR 71.261
Region Wallonne 1.220 06/12/2050 EUR 66.202
A-TEC Industrie 5.750 11/02/2010 EUR 0.100
Befimmo SA 2.050 09/04/2035 EUR 72.360
Region de Bruxe 0.640 7/20/2045 EUR 61.945
Raiffeisen Schw 8.400 8/23/2023 CHF 59.690
MOL Hungarian O 1.900 04/12/2031 HUF 54.200
Landesbank Hess 1.000 1/21/2036 EUR 70.600
Dr Wiesent Sozi 7.000 EUR 0.003
Societe General 5.750 9/23/2022 EUR 72.210
Credit Suisse A 13.700 9/25/2023 USD 29.020
Nordea Bank Abp 3.050 7/20/2027 SEK 74.570
Goldman Sachs I 0.070 1/13/2025 EUR 59.950
Credit Bank of 4.000 7/15/2022 RUB 96.160
Bank Julius Bae 8.000 10/07/2022 USD 56.650
Specialfastighe 1.280 9/20/2049 SEK 53.665
Regie Autonome 0.953 5/24/2052 EUR 65.811
Region Wallonne 1.550 4/28/2120 EUR 56.343
Credit Agricole 3.450 03/04/2041 AUD 59.358
Grand City Prop 2.500 6/27/2039 EUR 65.312
Thomas Cook Fin 3.875 7/15/2023 EUR 0.868
Cooperatieve Ra 1.850 3/29/2049 EUR 74.273
Caisse des Depo 0.950 2/17/2051 EUR 69.956
Nomura Bank Int 1.138 12/19/2039 EUR 65.915
BASF SE 1.025 8/13/2048 JPY 72.467
Region de Bruxe 1.528 04/05/2049 EUR 73.841
ING Bank NV 2.250 2/26/2036 USD 74.666
Barclays Bank P 1.072 12/30/2030 USD 71.358
Region Wallonne 1.250 4/30/2055 EUR 58.564
Landesbank Saar 0.890 09/04/2034 EUR 75.825
Region Occitani 1.339 3/21/2042 EUR 77.367
Societe General 1.100 2/20/2034 EUR 69.952
Caisse des Depo 0.913 11/20/2050 EUR 70.480
Heta Asset Reso 0.429 12/31/2023 EUR 4.007
Single Platform 0.931 2/15/2040 EUR 66.415
Societe Nationa 1.400 5/18/2120 EUR 47.204
Norske Skogindu 7.125 10/15/2033 USD 0.010
Kreditanstalt f 1.201 9/13/2051 EUR 72.763
Single Platform 1.600 2/15/2041 EUR 74.108
Landesbank Saar 0.720 6/29/2035 EUR 72.486
Eurohold Bulgar 8.000 12/29/2026 EUR 67.728
Republic of Ire 1.020 09/10/2086 EUR 56.661
Single Platform 1.233 6/25/2044 EUR 72.442
UBS AG/London 1.600 4/18/2049 EUR 70.342
Landesbank Bade 1.000 3/18/2039 EUR 63.706
Getin Noble Ban 10.020 04/04/2024 PLN 35.010
Bank Julius Bae 29.500 6/27/2022 CHF 30.450
Single Platform 1.240 5/25/2052 EUR 61.425
Grenke Finance 0.819 2/15/2030 EUR 66.546
Grand City Prop 2.600 2/25/2034 EUR 73.865
NTRP Via Interp 10.250 08/02/2017 USD 27.500
Batigere Grand 2.030 5/29/2070 EUR 62.864
Grand Delta Hab 1.820 3/18/2050 EUR 55.326
Agrokor dd Via 4.921 08/08/2017 EUR 14.625
Batigere Grand 1.800 08/12/2050 EUR 52.762
Canton of St Ga 0.200 11/28/2041 CHF 69.107
Parnassia Groep 1.470 12/01/2045 EUR 67.214
Lehman Brothers 2.234 11/02/2035 EUR 0.100
EFG Internation 8.000 9/26/2022 USD 58.580
VTB Bank PJSC 3.750 EUR 60.000
Leonteq Securit 10.400 9/28/2022 CHF 57.830
DekaBank Deutsc 5.970 02/09/2023 EUR 57.890
Pharmacy Chain 14.000 06/04/2030 RUB 61.200
Societe General 4.000 11/22/2022 USD 51.140
Forras Vagyonke 3.250 10/01/2030 HUF 68.155
Societe General 2.000 2/26/2033 USD 76.260
Ukraine Governm 3.700 4/27/2023 USD 59.533
Single Platform 1.100 6/25/2044 EUR 64.855
Vasakronan AB 1.655 09/05/2039 SEK 62.175
Department of L 0.478 10/30/2040 EUR 66.188
Regie Autonome 0.640 8/13/2041 EUR 69.724
DZ HYP AG 0.300 8/21/2035 EUR 73.687
Deutsche Apothe 1.715 2/13/2037 EUR 75.675
Magyar Export-I 2.000 10/27/2027 HUF 71.326
Land Thueringen 1.100 07/03/2047 EUR 76.169
Deutsche Pfandb 1.340 10/16/2051 EUR 75.113
Credit Agricole 2.800 2/23/2041 AUD 72.595
Natixis SA 3.000 8/28/2049 AUD 67.217
Sveriges Sakers 0.649 9/18/2032 SEK 73.658
ABN AMRO Bank N 1.070 03/03/2041 EUR 77.244
Nomura Bank Int 1.175 07/08/2033 EUR 75.107
Nederlandse Wat 1.551 11/24/2061 EUR 75.309
City of Gothenb 1.990 2/20/2045 SEK 72.738
Credit Agricole 0.310 2/24/2033 EUR 72.840
Single Platform 1.103 5/25/2052 EUR 59.514
NIBC Bank NV 0.410 1/27/2031 EUR 70.438
Region de Bruxe 0.650 2/15/2061 EUR 48.692
Landesbank Bade 0.400 07/02/2031 EUR 74.382
Berlin Hyp AG 1.157 12/09/2039 EUR 61.813
Kreditanstalt f 0.683 2/22/2051 EUR 69.109
National Grid E 2.020 03/12/2032 AUD 74.402
Privatbank CJSC 10.875 2/28/2018 USD 3.630
Brown's Pharma 3.900 07/09/2031 EUR 72.091
BPCE SA 2.255 03/12/2040 AUD 57.609
Ministeries Van 1.874 3/28/2058 EUR 76.451
Region de Bruxe 0.556 12/23/2064 EUR 43.385
Single Platform 0.950 7/25/2047 EUR 60.730
Caisse des Depo 1.460 1/24/2052 EUR 74.756
Landesbank Hess 1.580 12/16/2036 EUR 75.200
Vajda-Papir Gya 3.500 5/17/2031 HUF 71.600
Kreditanstalt f 0.816 12/19/2050 EUR 69.345
Metropole de Ly 0.376 12/22/2044 EUR 60.414
Erste Group Ban 1.010 10/07/2041 EUR 64.379
Region Nouvelle 0.777 05/12/2041 EUR 70.304
ING Groep NV 0.975 2/14/2034 EUR 68.817
Region Auvergne 0.543 9/28/2036 EUR 75.832
Bayerische Land 0.710 12/01/2031 EUR 80.337
Turkey Governme 11.000 2/24/2027 TRY 74.000
Standard Charte 2.140 1/29/2036 USD 73.729
Norske Skogindu 7.000 12/30/2026 EUR 0.010
Parnassia Groep 1.260 12/03/2046 EUR 76.351
Kuntarahoitus O 0.500 7/30/2029 AUD 74.932
Nordea Hypotek 0.793 10/22/2032 SEK 74.146
Batigere Grand 1.500 12/15/2051 EUR 48.600
AutoWallis Nyrt 3.000 4/15/2030 HUF 66.395
Leonteq Securit 10.000 10/19/2022 CHF 39.360
Polyplast OAO/M 9.500 4/18/2023 RUB 89.010
Alno AG 8.000 3/21/2019 EUR 14.510
MOL Nyrt Kueloe 4.950 1/26/2032 HUF 74.140
Landesbank Hess 1.500 1/13/2037 EUR 74.150
Credit Suisse A 20.650 9/23/2022 USD 46.500
BNP Paribas Iss 5.750 7/20/2024 SEK 64.880
Hell Energy Mag 3.000 7/28/2031 HUF 65.400
Befimmo SA 1.269 2/24/2031 EUR 75.924
United Utilitie 1.474 8/24/2031 USD 75.097
Muenchener Hypo 1.000 6/30/2037 EUR 67.632
Portugal Teleco 5.242 11/06/2017 EUR 0.694
Land Thueringen 1.127 04/02/2049 EUR 75.495
Akademiska Hus 0.850 2/17/2033 SEK 71.899
Cie DU Chemin d 0.280 11/29/2052 CHF 42.773
Landeskreditban 0.700 03/11/2041 EUR 71.567
LFA Foerderbank 0.160 01/02/2040 EUR 67.335
Kuntarahoitus O 0.448 3/19/2040 EUR 68.312
CDC Habitat SEM 0.814 2/15/2040 EUR 54.213
Communaute Fran 1.120 7/19/2038 EUR 74.149
Republic of Pol 1.250 10/25/2030 PLN 65.014
Landesbank Bade 0.520 03/06/2034 EUR 67.935
SNCF Reseau 2.490 06/12/2047 SEK 75.081
Engie SA 2.750 11/20/2045 EUR 75.285
Proximus SADP 1.500 5/14/2040 EUR 75.852
Region de Bruxe 0.690 6/22/2050 EUR 57.823
Credit Bank of 7.121 6/25/2024 USD 23.296
BNP Paribas SA 2.840 8/26/2039 AUD 64.230
NRW Bank 0.600 1/28/2051 EUR 65.877
State of Saarla 1.108 5/18/2046 EUR 76.324
State of North 2.000 4/16/2038 SEK 75.447
Landesbank Saar 0.710 12/06/2035 EUR 71.683
UniCredit SpA 2.360 1/26/2035 EUR 75.745
Leonteq Securit 24.020 6/29/2022 CHF 25.030
Raiffeisen Schw 5.000 8/24/2022 CHF 65.930
Societe General 8.000 5/28/2027 USD 32.550
Danske Bank A/S 5.300 7/15/2023 SEK 40.260
Landesbank Bade 2.800 12/23/2022 EUR 45.880
UBS AG/London 8.750 10/28/2022 CHF 70.450
Landesbank Hess 1.000 7/15/2060 EUR 65.633
Wirtschafts- un 0.250 09/08/2037 EUR 71.092
Communaute Fran 1.010 7/19/2051 EUR 60.651
Ukraine Governm 8.120 11/10/2035 UAH 34.509
Kuntarahoitus O 1.200 7/21/2061 EUR 69.838
Cooperatieve Ra 1.099 6/28/2051 EUR 72.579
Svensk Exportkr 0.500 4/24/2029 AUD 75.087
Bibby Offshore 7.500 6/15/2021 GBP 11.625
Landesbank Hess 1.650 5/27/2030 EUR 1.531
Region de Bruxe 1.144 1/14/2056 EUR 62.203
Ville de Paris 0.963 12/06/2051 EUR 64.169
Batigere Grand 1.600 11/14/2044 EUR 53.212
Stichting Afwik 2.275 EUR 0.622
Societe General 0.831 11/25/2031 EUR 75.569
Dr Max Funding 5.050 6/23/2028 EUR 65.770
State of Saxony 1.223 05/04/2046 EUR 78.005
Communaute Fran 0.800 8/24/2049 EUR 62.468
UBS AG/London 9.750 3/17/2023 CHF 55.150
Raiffeisen Schw 6.000 09/02/2022 CHF 73.080
WEB Windenergie 5.250 04/08/2023 EUR 0.010
Gazprom PJSC 17.690 10/21/2043 RUB 70.000
JP Morgan Struc 12.000 01/04/2027 ZMW #N/A N/A
Luzerner Kanton 8.400 12/27/2022 USD 73.000
Landesbank Hess 1.000 08/06/2035 EUR 75.000
Landesbank Hess 1.000 8/19/2036 EUR 72.250
Barclays Bank P 0.433 3/14/2023 USD 8.030
SG Issuer SA 8.410 1/20/2027 SEK 33.460
Societe General 16.000 07/03/2024 USD 26.600
Erste Group Ban 6.500 6/30/2022 EUR 52.000
EFG Internation 10.000 12/07/2022 USD 74.810
Alfa-Bank AO 10.200 02/10/2025 RUB 68.000
Societe General 10.000 6/28/2034 USD 73.250
Skandinaviska E 10.150 1/15/2025 SEK 45.410
SecurAsset SA 5.250 6/30/2022 EUR 34.550
UBS AG/London 17.400 4/14/2027 SEK 57.440
Textura Kereske 5.500 2/28/2032 HUF 70.250
Credit Agricole 1.920 10/16/2032 USD 75.100
Single Platform 1.610 2/15/2043 EUR 77.397
Ukraine Governm 12.700 10/30/2024 UAH 72.030
NatWest Markets 1.250 12/04/2034 EUR 72.724
HSBC Continenta 2.025 3/19/2049 EUR 75.400
DekaBank Deutsc 1.300 4/23/2035 EUR 72.930
Krakowski Bank 8.020 9/20/2023 PLN 77.500
Thames Water Ut 2.442 05/12/2050 GBP 65.953
ABN AMRO Bank N 0.450 12/12/2036 EUR 74.194
Single Platform 1.842 2/15/2044 EUR 76.230
National Grid E 2.710 10/04/2034 AUD 76.885
Kuntarahoitus O 1.155 11/19/2060 EUR 70.935
Landesbank Saar 0.760 05/08/2034 EUR 75.174
Department of B 0.810 12/16/2041 EUR 69.740
Assistance Publ 0.490 9/30/2040 EUR 66.548
Region de Bruxe 1.040 05/03/2061 EUR 57.814
Nederlandse Wat 1.000 11/24/2050 EUR 73.239
Ukraine Governm 11.780 5/27/2026 UAH 61.822
Landesbank Bade 1.100 05/07/2040 EUR 68.527
Region Bourgogn 0.397 12/03/2045 EUR 59.657
BNP Paribas SA 1.400 06/04/2041 EUR 68.793
Ukraine Governm 9.790 5/26/2027 UAH 81.145
Getin Noble Ban 8.040 8/30/2024 PLN 49.875
Natixis SA 3.600 11/16/2041 AUD 75.864
Societe Du Gran 1.955 4/16/2069 EUR 75.174
Credit Bank of 0.100 02/12/2023 RUB 89.330
Deutsche Bank A 1.560 6/18/2031 EUR 74.430
Skandinaviska E 10.400 1/15/2024 SEK 73.030
Societe General 1.950 10/22/2031 USD 74.416
Ukraine Governm 9.990 5/22/2024 UAH 65.912
Kreditanstalt f 1.175 4/14/2051 EUR 76.294
Commerzbank AG 2.565 5/15/2043 EUR 72.681
Ville de Paris 0.373 12/21/2044 EUR 61.494
Region Provence 0.709 6/29/2040 EUR 71.997
UniCredit Bank 0.030 2/28/2033 EUR 76.676
Ukraine Governm 9.990 8/27/2031 UAH 45.154
Single Platform 1.440 7/18/2042 EUR 69.848
Muenchener Hypo 0.867 2/25/2047 EUR 72.939
ING Bank NV 0.465 4/21/2041 EUR 70.328
ING Bank NV 0.335 4/21/2036 EUR 74.748
Societe General 3.100 4/22/2036 AUD 67.547
Societe Nationa 2.910 1/27/2051 AUD 69.212
National Treasu 1.560 2/16/2122 EUR 70.372
Lehman Brothers 2.875 3/14/2013 CHF 0.100
ING Bank NV 2.830 9/28/2051 USD 69.522
Rio Forte Inves 4.750 11/10/2015 EUR 3.326
Kuntarahoitus O 0.854 1/14/2060 EUR 66.327
Societe General 17.604 8/24/2023 USD #N/A N/A
RENE LEZARD Mod 7.250 11/25/2017 EUR 0.120
Mifa Mitteldeut 7.500 08/12/2018 EUR 2.411
Credit Bank of 0.010 9/18/2023 RUB 84.450
Leonteq Securit 10.000 12/13/2022 USD 45.450
Credit Suisse A 20.000 12/21/2022 USD 50.900
Societe General 11.750 9/18/2024 USD 40.430
Zurcher Kantona 4.800 12/08/2023 CHF 71.090
Erste Group Ban 5.500 6/30/2025 EUR 67.550
Resa SA/Belgium 1.950 7/22/2036 EUR 50.010
Kalita OOO 13.000 8/18/2024 RUB 6.350
Societe General 8.200 06/08/2023 USD 43.750
Kometa 99 Elelm 5.000 2/21/2032 HUF 72.600
Ville de Paris 0.831 2/23/2056 EUR 57.153
Nederlandse Wat 0.230 10/22/2035 EUR 74.812
NRW Bank 0.612 10/21/2050 EUR 65.854
Agence France L 0.210 12/20/2035 EUR 74.500
Royal Schiphol 3.090 07/01/2034 AUD 74.750
SNCF Reseau 2.455 6/22/2047 SEK 74.510
Gemeente Bergen 0.440 9/20/2044 EUR 67.011
Wirtschafts- un 0.500 8/28/2046 EUR 64.463
Region Auvergne 0.645 04/09/2040 EUR 69.313
Banque et Caiss 1.000 01/04/2042 EUR 75.841
Republic of Ire 1.320 11/28/2119 EUR 47.714
Kreditanstalt f 1.030 12/06/2049 EUR 74.487
Nederlandse Wat 0.955 2/13/2051 EUR 69.609
SAir Group 0.125 07/07/2005 CHF 12.625
Republic of Ire 1.180 5/25/2087 EUR 61.787
Region de Bruxe 1.286 12/17/2046 EUR 72.102
Region de Bruxe 1.100 5/25/2051 EUR 65.436
SAG Solarstrom 6.250 12/14/2015 EUR 31.000
Regie Autonome 0.938 5/25/2050 EUR 62.547
French Republic 0.500 5/25/2072 EUR 43.669
Eika Boligkredi 0.560 11/29/2039 EUR 68.949
Raiffeisenlande 1.174 07/11/2034 EUR 75.342
Republic of Ire 1.210 10/27/2111 EUR 53.132
Single Platform 0.428 2/15/2040 EUR 60.758
Landeskreditban 1.017 3/15/2061 EUR 68.421
Communaute Fran 1.340 07/01/2054 EUR 70.491
Saechsische Auf 0.300 2/18/2042 EUR 66.475
Hypo Tirol Bank 1.090 1/21/2041 EUR 64.240
DZ Bank AG Deut 0.530 7/26/2033 EUR 75.230
Rusal Capital D 5.300 05/03/2023 USD 30.000
Nederlandse Wat 1.370 3/23/2065 EUR 72.486
Credit Industri 0.900 02/04/2041 EUR 52.203
Communaute Fran 1.700 4/15/2049 EUR 75.070
Dolphin Drillin 4.490 8/28/2019 NOK 0.644
Republic of Ire 1.230 5/29/2120 EUR 54.596
Ville de Marsei 1.079 11/19/2046 EUR 70.094
Grand Delta Hab 1.500 06/02/2045 EUR 53.271
Spain Governmen 1.000 7/30/2042 EUR 70.647
EDOB Abwicklung 7.500 04/01/2012 EUR 1.388
Wirtschafts- un 0.170 12/09/2041 EUR 64.145
Barclays Bank P 1.382 11/27/2045 EUR 73.104
Mox Telecom AG 7.250 11/02/2017 EUR 2.270
Cooperatieve Ra 0.500 11/30/2027 MXN 58.633
Landshypotek Ba 1.815 2/25/2041 SEK 75.763
Aareal Bank AG 0.380 9/16/2031 EUR 67.581
Communaute Fran 1.367 1/20/2070 EUR 64.595
VTB Bank PJSC 0.010 12/09/2025 RUB 55.580
UBS AG/London 14.000 07/07/2022 USD 48.000
OR PJSC 11.000 12/29/2024 RUB 9.120
DZ Bank AG Deut 0.097 10/11/2050 EUR 74.800
OR PJSC 12.000 9/22/2022 RUB 36.190
Credit Bank of 0.010 11/12/2023 RUB 60.080
Hypo Vorarlberg 0.400 12/22/2031 EUR 74.519
Kuntarahoitus O 0.875 11/14/2034 SEK 76.037
Department of L 0.790 11/22/2039 EUR 71.714
Metropole de Ly 0.500 12/28/2049 EUR 56.564
Single Platform 0.800 12/20/2040 EUR 65.028
Hemso Fastighet 2.680 07/10/2035 AUD 71.817
Credit Agricole 1.190 2/26/2040 EUR 68.365
Ukraine Governm 9.980 04/10/2030 UAH 47.168
Specialfastighe 1.120 2/19/2044 SEK 56.367
Credit Agricole 1.000 4/26/2036 EUR 72.702
Deutsche Bank A 2.348 8/15/2034 EUR 75.059
Autonomous Comm 1.255 10/31/2048 EUR 64.407
Muenchener Hypo 0.420 12/10/2035 EUR 67.417
LSF9 Balta Issu 3.000 12/31/2030 EUR 57.234
Skandinaviska E 8.600 7/17/2023 SEK 57.600
AutoWallis Nyrt 3.000 7/27/2031 HUF 59.300
Leonteq Securit 8.000 09/05/2022 CHF 57.270
Main Road JSC 6.900 10/30/2029 RUB 90.500
Credit Suisse A 5.200 12/28/2022 USD 9.260
Erste Group Ban 5.000 10/01/2022 EUR 75.250
OR PJSC 16.000 11/26/2025 RUB 27.470
Bank Julius Bae 8.400 11/02/2022 CHF 74.750
OR PJSC 16.000 11/22/2025 RUB 20.660
Credit Suisse A 14.250 07/04/2022 CHF 56.300
OR PJSC 12.600 9/28/2025 RUB 11.000
Bank Vontobel A 22.300 08/02/2022 CHF 28.000
Leonteq Securit 20.070 07/11/2022 USD 57.380
OR PJSC 12.000 11/14/2024 RUB 9.000
Hamburgische In 0.380 2/24/2042 EUR 67.023
Single Platform 0.776 1/23/2051 EUR 53.653
BPCE SFH SA 1.229 04/12/2049 EUR 75.610
Department of L 1.110 6/18/2039 EUR 76.496
Slovenia Govern 0.488 10/20/2050 EUR 55.012
Vasakronan AB 2.162 05/04/2040 SEK 67.027
Vasakronan AB 1.700 6/28/2044 EUR 72.143
DZ Bank AG Deut 0.740 11/02/2035 EUR 76.000
Bayerische Land 1.600 7/21/2036 EUR 82.801
Veneto Banca Sp 6.950 2/25/2025 EUR 0.152
Italy Buoni Pol 0.150 5/15/2051 EUR 67.038
KPNQwest NV 7.125 06/01/2009 EUR 0.453
Societe General 2.630 03/02/2036 USD 70.270
Kreditanstalt f 0.210 11/18/2037 EUR 69.504
DZ Bank AG Deut 0.660 11/23/2035 EUR 75.096
Muenchener Hypo 0.490 9/17/2032 EUR 75.915
Credit Agricole 2.000 11/23/2032 USD 75.483
Muenchener Hypo 1.000 05/07/2035 EUR 74.392
Credit Agricole 2.480 03/04/2036 USD 72.634
Bayerische Land 0.030 10/22/2035 EUR 72.897
Barclays Bank P 1.072 12/30/2030 USD 59.266
Region de Bruxe 0.845 9/30/2059 EUR 52.343
Landesbank Saar 0.670 03/10/2034 EUR 74.582
BNG Bank NV 1.040 11/28/2047 EUR 75.363
Specialfastighe 1.180 12/02/2044 SEK 57.193
Communaute Fran 0.782 02/08/2061 EUR 49.790
Landesbank Bade 0.395 1/29/2031 EUR 75.639
Region de Bruxe 0.658 01/07/2041 EUR 68.296
Societe Du Gran 2.062 3/19/2070 EUR 79.994
NRW Bank 1.400 3/19/2070 EUR 72.540
Lehman Brothers 6.000 6/21/2011 EUR 0.100
Air Berlin Fina 6.000 03/06/2019 EUR 0.451
Republic of Ire 1.250 10/08/2121 EUR 58.435
Aareal Bank AG 0.625 9/16/2030 EUR 72.308
Credit Agricole 1.300 02/02/2061 EUR 56.872
IT Holding Fina 9.875 11/15/2012 EUR 0.015
Landesbank Saar 0.680 3/29/2034 EUR 74.595
Agence Francais 2.114 09/08/2034 AUD 72.692
DZ Bank AG Deut 0.640 12/07/2035 EUR 74.850
Ukraine Governm 6.000 1/14/2026 UAH 51.010
Ukraine Governm 3.900 10/05/2023 USD 41.652
Region de Bruxe 1.225 6/21/2070 EUR 57.165
Credit Suisse A 1.000 9/24/2035 EUR 67.084
Ministeries Van 1.053 06/03/2050 EUR 61.338
Agrokor dd 8.875 02/01/2020 USD 15.000
Aareal Bank AG 1.068 2/18/2050 EUR 71.168
Hemso Fastighet 2.615 11/30/2043 EUR 69.312
Kuntarahoitus O 0.500 05/08/2029 AUD 75.305
BNG Bank NV 1.980 4/19/2040 SEK 74.621
DZ Bank AG Deut 0.600 12/04/2035 EUR 74.753
Greenleaves Cap 2.665 9/25/2031 AUD 76.864
Single Platform 0.901 2/15/2041 EUR 65.693
Kreditanstalt f 0.689 6/18/2040 EUR 74.947
Bank Vontobel A 9.504 6/30/2022 CHF 31.500
Credit Suisse A 5.880 6/28/2023 USD 9.100
Skandinaviska E 7.600 1/15/2024 SEK 62.610
I-Teco AO 14.500 9/22/2022 RUB 61.000
SG Issuer SA 6.130 1/20/2024 SEK 59.030
Landesbank Bade 2.910 7/22/2022 EUR 56.710
EFG Internation 7.500 7/26/2022 USD 34.260
Raiffeisen Schw 14.000 7/19/2022 USD 63.170
Skandinaviska E 9.500 7/17/2023 SEK 58.460
Credit Agricole 2.280 1/19/2036 USD 70.936
NRW Bank 1.235 12/16/2061 EUR 69.362
Natixis SA 3.000 10/18/2051 USD 69.656
Credit Agricole 10.320 7/22/2026 TRY 40.986
Ukraine Governm 9.000 7/17/2030 UAH 43.526
Republic of Aus 0.100 07/10/2040 EUR 67.642
Muenchener Hypo 0.805 4/16/2036 EUR 67.967
Ukraine Governm 8.750 11/10/2032 UAH 39.356
Vacse AB 2.067 4/20/2034 SEK 75.450
Credit Agricole 3.610 4/20/2036 AUD 69.425
Societe General 2.000 1/30/2036 USD 64.914
Single Platform 1.220 04/01/2039 EUR 70.993
Lehman Brothers 11.000 12/20/2017 AUD 0.100
SBAB Bank AB 0.928 11/07/2034 SEK 70.829
Region de Bruxe 0.500 6/22/2040 EUR 68.079
Societe General 2.970 4/15/2036 USD 73.213
Lehman Brothers 6.250 09/05/2011 EUR 0.100
NRW Bank 1.022 12/23/2041 EUR 77.322
NRW Bank 1.048 10/11/2041 EUR 76.643
Communaute Fran 1.380 11/07/2046 EUR 71.504
Region de Bruxe 0.750 6/24/2042 EUR 68.544
Kreditanstalt f 0.250 10/06/2036 CAD 49.719
LBI ehf 6.100 8/25/2011 USD 10.662
Bibby Offshore 7.500 6/15/2021 GBP 11.625
SAir Group 2.750 7/30/2004 CHF 12.625
Premium Green P 0.600 10/31/2046 EUR 64.776
Region Wallonne 0.828 8/28/2048 EUR 60.646
Landesbeteiligu 1.450 6/15/2046 EUR 65.153
Luminis SA 1.800 09/02/2059 EUR 52.604
VTB Bank OJSC V 6.250 6/30/2035 USD 21.704
Credit Suisse A 14.000 3/17/2023 USD 59.370
UniCredit Bank 1.500 1/31/2040 EUR 63.340
Uniservice Capi 8.800 1/21/2029 RUB 52.000
BNP Paribas Iss 5.680 4/25/2023 EUR 62.450
Credit Suisse A 7.500 7/13/2022 CHF 54.020
Leonteq Securit 18.000 10/06/2022 CHF 42.020
Nordea Bank Abp 6.060 7/20/2023 SEK 68.120
Landesbank Hess 1.000 10/29/2035 EUR 72.700
Russian Post FG 2.750 12/06/2023 RUB 60.070
Golfino AG 8.000 11/18/2023 EUR 0.020
Bank Julius Bae 10.250 10/05/2022 USD 35.000
UniCredit Bank 10.300 9/27/2024 EUR 62.190
Credit Suisse A 7.500 10/12/2022 USD 55.930
Landesbank Bade 5.950 9/23/2022 EUR 60.160
Raiffeisen Swit 3.890 8/26/2022 CHF 66.850
Bank Vontobel A 20.000 4/17/2023 CHF 70.000
Landesbank Bade 3.940 11/25/2022 EUR 68.390
Goldman Sachs I 0.098 1/13/2025 EUR 56.550
Goldman Sachs I 0.100 1/13/2025 EUR 62.700
SG Issuer SA 2.100 12/06/2033 EUR 41.480
Landesbank Bade 9.150 10/28/2022 EUR 73.820
Credit Suisse A 7.750 12/15/2022 CHF 60.900
UBS AG/London 11.000 1/16/2023 CHF 62.100
Credit Suisse A 6.190 9/14/2022 USD 9.630
Skandinaviska E 6.350 7/15/2024 SEK 54.050
UBS AG/London 16.000 04/01/2024 USD 76.700
Wingholding Zrt 5.000 2/17/2032 HUF 77.105
Collectivite Eu 0.487 10/09/2045 EUR 61.091
Region de Bruxe 0.950 05/07/2049 EUR 63.800
WPE Internation 10.375 9/30/2020 USD 5.000
WPE Internation 10.375 9/30/2020 USD 5.000
Muenchener Hypo 0.300 09/06/2032 EUR 74.156
NRW Bank 0.800 10/22/2060 EUR 62.486
Berlin Hyp AG 0.440 10/29/2035 EUR 66.730
Irish Bank Reso 4.000 4/23/2018 EUR 33.250
Single Platform 1.425 5/25/2052 EUR 65.703
Region of Centr 0.755 11/02/2037 EUR 74.461
Nomura Bank Int 1.415 1/27/2042 EUR 67.668
SAG Solarstrom 7.500 07/10/2017 EUR 31.000
Minicentrales D 0.010 06/06/2047 EUR 66.875
Banque Internat 2.160 6/27/2039 EUR 76.714
Cie de Financem 0.975 08/11/2046 EUR 72.428
BPCE SA 2.320 03/04/2036 USD 66.030
Canton of Zuric 0.250 07/12/2039 CHF 74.064
Deutsche Apothe 1.090 12/16/2039 EUR 64.112
Region de Bruxe 1.419 6/22/2045 EUR 76.351
Waste Italia Sp 10.500 11/15/2019 EUR 0.550
Aralco Finance 10.125 05/07/2020 USD 3.010
BNP Paribas SA 1.660 03/04/2031 USD 73.172
State of North 1.513 7/27/2065 EUR 77.125
Kommunekredit 1.375 5/18/2046 SEK 71.265
Ukraine Governm 12.940 2/14/2024 UAH 75.340
Landesbank Bade 0.680 6/22/2034 EUR 69.070
Department of L 0.915 11/23/2043 EUR 69.851
Norddeutsche La 0.850 12/07/2035 EUR 69.953
ING Bank NV 2.220 1/20/2036 USD 74.523
Region of Centr 0.822 05/12/2041 EUR 70.913
Landesbank Bade 0.900 11/22/2034 EUR 69.564
Citigroup Globa 1.500 5/13/2051 EUR 65.285
Landesbank Bade 0.510 08/02/2033 EUR 69.708
KPNQwest NV 8.875 02/01/2008 EUR 0.453
Natixis SA 2.520 8/24/2036 AUD 69.385
Single Platform 1.690 7/25/2053 EUR 72.693
Barclays Bank P 2.300 8/31/2036 USD 72.197
BPCE SFH SA 0.430 05/07/2040 EUR 67.873
State of Lower 0.550 11/13/2080 EUR 38.183
Purple Protecte 1.480 11/30/2060 EUR 66.042
BNG Bank NV 0.630 07/11/2067 EUR 58.295
Kuntarahoitus O 1.449 03/01/2061 EUR 78.448
NRW Bank 1.070 03/10/2051 EUR 71.854
SNCF Reseau 2.425 6/22/2047 SEK 74.040
UkrLandFarming 10.875 3/26/2018 USD 1.358
Landesbank Bade 0.570 2/27/2034 EUR 68.431
CDC Habitat SEM 1.700 3/21/2039 EUR 66.375
Centre Hospital 1.500 4/27/2050 EUR 75.664
Wirtschafts- un 0.138 8/23/2044 EUR 60.209
International B 8.250 10/09/2024 USD 60.375
National Treasu 1.190 10/07/2101 EUR 54.237
Natixis SA 2.530 08/05/2036 AUD 69.475
Barclays Bank I 1.650 03/11/2047 EUR 71.458
Deutsche Bank A 2.330 02/11/2043 EUR 69.092
Societe General 2.300 4/20/2048 EUR 76.555
Single Platform 1.105 2/15/2041 EUR 67.320
Single Platform 1.840 7/25/2053 EUR 75.513
Bayerische Land 0.460 12/23/2030 EUR 81.216
Muenchener Hypo 1.010 08/06/2044 EUR 58.275
Landesbank Bade 0.905 04/01/2041 EUR 60.435
Communaute Fran 1.925 4/18/2059 EUR 76.084
Single Platform 2.050 09/01/2044 NOK 73.810
Espirito Santo 5.050 11/15/2025 EUR 0.324
Hemso Fastighet 2.127 4/18/2039 EUR 67.564
A-TEC Industrie 2.750 05/10/2014 EUR 0.100
Corner Banca SA 6.600 08/02/2022 CHF 0.920
Erste Group Ban 9.000 1/31/2024 EUR 44.900
SunDell Estate 3.250 11/12/2030 HUF 67.000
SG Issuer SA 8.700 1/20/2025 SEK 30.730
OR PJSC 11.500 7/28/2024 RUB 10.900
Quintet Private 6.050 5/26/2026 USD 63.960
Bank Julius Bae 8.800 8/19/2022 USD 74.400
Leonteq Securit 7.000 12/21/2022 CHF 72.870
Societe Nationa 2.503 1/14/2041 AUD 68.226
HSBC Continenta 0.900 03/02/2035 EUR 72.930
National Grid E 2.037 2/15/2039 EUR 74.457
Hungary Governm 3.000 8/21/2030 HUF 70.722
Saastopankkien 0.860 1/18/2036 EUR 74.228
BNP Paribas SA 3.170 01/07/2041 AUD 67.099
Single Platform 3.505 08/06/2046 AUD 72.889
BrokerCreditSer 2.572 12/06/2031 USD 73.213
Landesbank Bade 1.050 7/17/2034 EUR 71.316
Deutsche Bahn F 1.520 07/03/2035 SEK 76.123
Credit Agricole 5.400 1/31/2028 BRL 71.211
Deutsche Bank A 2.530 10/07/2036 USD 69.696
Ukraine Governm 6.000 9/13/2028 UAH 38.509
Societe General 2.120 01/06/2036 USD 65.746
Single Platform 0.419 2/15/2040 EUR 60.233
Deutsche Bank A 2.267 8/25/2034 EUR 74.283
Lehman Brothers 15.000 06/04/2009 CHF 0.100
DZ Bank AG Deut 1.070 10/06/2042 EUR 76.152
Tonon Luxembour 9.250 1/24/2020 USD 0.500
Santander Inter 1.150 04/08/2041 EUR 67.278
Single Platform 1.250 05/10/2044 EUR 66.291
Svensk Exportkr 0.500 6/29/2029 AUD 74.413
Communaute Fran 1.000 10/08/2069 EUR 50.303
Muenchener Hypo 0.568 6/15/2032 EUR 77.612
Kuntarahoitus O 1.000 10/25/2049 EUR 72.355
Swedbank AB 0.350 9/22/2031 EUR 76.598
Region of Centr 0.825 6/18/2040 EUR 71.444
Societe General 0.570 6/30/2031 EUR 73.216
Ville de Paris 1.293 2/22/2049 EUR 74.011
Raiffeisen Swit 7.300 1/25/2023 CHF 51.170
Credit Suisse A 8.000 6/27/2022 CHF 45.590
SG Issuer SA 9.180 1/20/2025 SEK 31.560
Corner Banca SA 16.000 10/05/2022 CHF 51.740
OR PJSC 13.500 10/22/2025 RUB 10.200
GTC Magyarorsza 2.250 12/07/2030 HUF 66.275
UBS AG/London 17.500 7/28/2022 CHF 51.000
Leonteq Securit 6.300 7/17/2023 EUR 69.150
DekaBank Deutsc 4.810 12/23/2022 EUR 49.250
Landesbank Hess 1.750 10/29/2036 EUR 76.000
Kalita OOO 13.000 9/21/2025 RUB 8.350
Landesbank Bade 4.160 7/22/2022 EUR 72.690
Leonteq Securit 26.350 08/03/2022 CHF 46.320
Societe General 16.000 07/03/2024 USD 17.600
Bayerische Land 2.100 10/28/2022 EUR 71.980
Landesbank Bade 0.500 10/18/2039 EUR 68.990
Skandinaviska E 8.500 7/15/2024 SEK 60.040
Basler Kantonal 16.000 08/05/2022 CHF 57.190
Erste Group Ban 7.250 03/03/2023 EUR 77.750
Kreditanstalt f 0.620 1/14/2050 EUR 66.982
Bayerische Land 0.700 06/12/2037 EUR 77.063
Grand Delta Hab 1.500 09/01/2047 EUR 61.401
Landesbank Hess 0.650 9/16/2036 EUR 71.700
Caisse des Depo 1.000 2/26/2051 EUR 72.421
Deutsche Apothe 0.800 12/21/2035 EUR 67.790
HSBC Bank PLC 0.500 6/23/2027 MXN 59.779
LR Realkredit A 0.500 10/01/2050 DKK 71.862
Single Platform 1.860 2/15/2041 NOK 74.012
Caisse des Depo 0.930 11/09/2050 EUR 69.920
Akademiska Hus 2.080 4/17/2045 SEK 69.710
HSBC Bank PLC 0.500 11/25/2025 BRL 65.788
Erste Group Ban 0.520 11/02/2033 EUR 71.452
Kuntarahoitus O 1.400 03/05/2061 EUR 75.470
Ville de Sion 0.355 09/12/2039 CHF 74.313
Russian Foreign 4.250 6/23/2027 USD 18.075
SAir Group 4.250 02/02/2007 CHF 12.625
Ville de Paris 0.921 5/26/2053 EUR 62.156
Single Platform 0.780 04/01/2042 EUR 61.262
Region Auvergne 1.150 04/08/2039 EUR 77.302
Societe General 3.110 10/28/2041 AUD 63.651
Santander Inter 1.700 12/12/2049 EUR 39.092
Republic of Ire 1.200 4/15/2120 EUR 47.902
Societe General 2.050 2/18/2031 AUD 69.551
Commerzbank AG 1.046 12/18/2034 EUR 74.990
Societe Wallonn 0.948 10/23/2051 EUR 58.372
NRW Bank 0.921 10/20/2041 EUR 76.266
Single Platform 2.085 1/24/2044 NOK 71.534
Espirito Santo 5.125 5/30/2016 EUR 0.528
LFA Foerderbank 0.010 12/15/2033 EUR 75.523
Caisse des Depo 2.730 03/02/2041 AUD 71.385
UBS Group AG 2.210 11/24/2035 USD 71.118
Landesbank Saar 0.540 11/18/2033 EUR 73.628
Wirtschafts- un 0.208 1/28/2043 EUR 63.343
Department of B 1.100 07/08/2039 EUR 76.305
ABN AMRO Bank N 0.500 12/12/2039 EUR 70.789
Region Provence 0.753 01/05/2037 EUR 77.582
Region de Bruxe 1.000 4/21/2051 EUR 62.205
Single Platform 1.416 2/15/2041 EUR 76.220
Centre Hospital 1.160 09/06/2039 EUR 64.089
Swedbank AB 2.070 09/09/2031 AUD 77.344
Region de Bruxe 1.541 6/22/2057 EUR 69.681
Norddeutsche La 1.310 3/23/2039 EUR 69.444
de Volksbank NV 0.831 7/19/2038 EUR 75.988
Single Platform 1.340 04/04/2042 EUR 77.615
Kuntarahoitus O 1.005 12/07/2060 EUR 66.025
Caisse des Depo 1.098 7/31/2049 EUR 75.215
Akademiska Hus 2.185 11/21/2038 SEK 76.505
Credit Agricole 1.770 4/26/2035 EUR 76.800
Region de Bruxe 1.472 4/29/2044 EUR 76.973
BPCE SA 2.285 12/03/2035 AUD 63.735
Municipality of 1.134 10/18/2066 EUR 77.017
BPCE SFH SA 0.843 7/19/2044 EUR 70.223
ACCIONA Financi 3.090 04/07/2027 PLN 76.245
Deutsche Bank A 2.825 2/25/2043 EUR 75.529
Single Platform 0.833 2/15/2041 EUR 63.588
Norddeutsche La 1.250 03/08/2034 EUR 77.846
Norddeutsche La 1.500 3/16/2037 EUR 73.532
Astana Finance 7.875 06/08/2010 EUR 16.000
Bulgaria Steel 12.000 05/04/2013 EUR 0.216
Skandinaviska E 7.800 7/15/2024 SEK 58.780
Bayerische Land 2.350 2/23/2024 EUR 70.620
Duna House Hold 3.000 09/02/2030 HUF 73.800
DZ Bank AG Deut 0.097 10/11/2050 EUR 74.800
Societe General#N/A N/A 3/29/2035 USD 74.000
Opus Global Nyr 3.200 4/29/2031 HUF 71.000
Bayerische Land 2.100 7/22/2022 EUR 71.860
Reneszansz Kofa 3.200 04/09/2031 HUF 73.000
CDC Habitat SEM 1.150 4/30/2037 EUR 64.866
Landesbank Hess 0.750 8/19/2036 EUR 68.484
Muenchener Hypo 0.047 1/15/2031 EUR 77.294
Deutsche Bank A 0.610 9/30/2031 EUR 75.286
NRW Bank 0.780 03/04/2050 EUR 69.095
Societe General 5.400 11/17/2037 USD 59.914
Region Wallonne 1.165 6/29/2059 EUR 58.722
Ville de Paris 0.395 12/18/2045 EUR 60.553
Credit Agricole 11.340 02/12/2026 TRY 44.477
Ukraine Governm 9.760 7/23/2031 UAH 44.515
Deutsche Pfandb 0.906 03/04/2050 EUR 71.292
Rio Forte Inves 3.900 07/10/2014 USD 4.210
BPCE SA 2.450 2/24/2035 AUD 66.703
Agence Metropol 0.800 07/01/2040 EUR 71.056
Caisse des Depo 1.300 4/28/2051 EUR 74.802
Ukraine Governm 6.000 12/23/2026 UAH 45.491
Agence France L 2.550 3/20/2036 AUD 73.875
Region Auvergne 0.530 9/29/2036 EUR 76.039
Region Provence 0.575 07/06/2039 EUR 71.753
Kuntarahoitus O 1.300 04/08/2061 EUR 72.600
Societe General 1.230 1/30/2035 EUR 73.708
Barclays Bank P 2.000 06/12/2029 TRY 14.701
Heta Asset Reso 0.297 12/31/2023 EUR 4.007
Kuntarahoitus O 1.150 9/24/2051 EUR 72.299
Svensk Exportkr 0.500 8/29/2029 AUD 73.846
NRW Bank 1.070 10/29/2049 EUR 75.556
Lehman Brothers 6.650 8/24/2011 AUD 0.100
Ile-de-France M 1.000 12/02/2043 EUR 73.079
Region de Bruxe 0.274 12/11/2040 EUR 64.198
Leonteq Securit 7.000 3/29/2023 CHF 66.430
Raiffeisen Cent 6.500 9/22/2023 EUR 71.800
Pannon Work Sze 3.000 10/30/2030 HUF 62.600
Bank Julius Bae 7.200 12/01/2022 CHF 74.300
Raiffeisen Schw 8.000 2/27/2023 CHF 58.630
Bank Otkritie F 0.010 2/26/2023 RUB 85.000
ENEL RUSSIA PJS 8.600 12/15/2022 RUB 61.000
SG Issuer SA 2.250 10/28/2029 EUR 74.060
WEB Windenergie 6.500 EUR 0.010
DeltaCredit Ban 1.000 5/18/2026 RUB 70.010
Societe General 10.000 5/31/2034 USD 64.400
Leonteq Securit 5.710 9/23/2022 USD 32.700
Leonteq Securit 20.000 8/16/2022 CHF 52.830
Bank Julius Bae 14.580 09/09/2022 USD 21.800
Leonteq Securit 10.000 10/12/2022 CHF 49.350
Bank Vontobel A 18.000 8/29/2022 USD 40.200
Societe General 24.000 11/14/2024 USD 51.775
Leonteq Securit 2.380 11/10/2022 EUR 35.380
Sberbank of Rus 0.010 02/01/2029 RUB 64.600
VTB Bank PJSC 0.010 06/03/2026 RUB 82.050
EFG Internation 10.320 7/19/2022 USD 49.460
Credit Suisse A 19.250 12/08/2022 CHF 44.610
DekaBank Deutsc 6.670 8/26/2022 EUR 74.210
Nordea Bank Abp 10.134 1/20/2027 SEK 66.250
VTB Bank PJSC 0.010 12/06/2024 RUB 62.500
Sberbank of Rus 0.010 2/26/2027 RUB 68.600
Zurcher Kantona 21.250 10/04/2022 CHF 53.050
Banque Internat 8.000 11/08/2023 USD 73.990
Leonteq Securit 23.200 8/30/2022 CHF 68.000
Skandinaviska E 6.500 1/15/2024 SEK 61.120
Barclays Bank P 2.730 9/27/2024 EUR 39.040
Pick Szeged Sza 2.000 12/06/2029 HUF 64.010
Bayerische Land 0.650 12/22/2023 EUR 75.500
Bayerische Land 2.150 1/27/2023 EUR 65.820
Bayerische Land 2.300 2/24/2023 EUR 70.950
Pongs & Zahn AG 8.500 11/01/2014 EUR 0.101
Bayerische Land 2.150 9/23/2022 EUR 73.270
Bayerische Land 2.050 8/26/2022 EUR 74.500
Market Epito Zr 2.950 10/22/2029 HUF 68.000
UBS AG/London 12.750 8/16/2023 EUR 71.650
Sberbank of Rus 0.010 11/03/2026 RUB 66.500
Kuntarahoitus O 0.858 2/22/2051 EUR 70.891
Phosphorus Hold 10.000 04/01/2019 GBP 1.348
Norddeutsche La 0.750 11/23/2032 EUR 76.100
Deutsche Bank A 1.580 10/23/2031 EUR 76.501
Vasakronan AB 2.130 5/27/2041 SEK 67.402
Department of G 0.412 11/26/2037 EUR 70.050
Heta Asset Reso 0.288 12/31/2023 EUR 4.007
Landesbank Hess 0.980 11/09/2060 EUR 65.648
Gebr Sanders Gm 8.750 10/22/2018 EUR 9.375
Natixis SA 2.800 03/03/2041 USD 73.253
NRW Bank 0.510 9/23/2039 EUR 71.647
Norddeutsche La 1.560 10/20/2038 EUR 72.449
Batigere Grand 1.400 8/31/2050 EUR 46.485
Ile-de-France M 1.200 04/08/2050 EUR 69.648
Kreditanstalt f 0.820 4/15/2050 EUR 72.729
Wirtschafts- un 0.321 2/18/2041 EUR 68.017
Lloyds Bank PLC 0.500 7/26/2028 MXN 54.536
Kreditanstalt f 0.990 02/12/2051 EUR 71.001
HSBC Bank PLC 10.300 12/10/2024 TRY 49.789
Citigroup Globa 0.610 05/05/2031 EUR 75.900
NRW Bank 1.155 9/21/2050 EUR 73.199
Landesbank Bade 0.650 06/01/2034 EUR 68.855
Raiffeisen-Land 1.500 02/10/2061 EUR 58.073
Cerruti Finance 6.500 7/26/2004 EUR 2.058
Single Platform 1.720 2/15/2041 EUR 75.752
Region Wallonne 1.246 05/12/2070 EUR 55.868
Kuntarahoitus O 0.514 10/07/2039 EUR 72.409
State of North 1.267 9/16/2051 EUR 76.996
Intesa Sanpaolo 3.102 11/19/2035 AUD 71.810
Caisse des Depo 1.065 9/20/2049 EUR 74.509
Region of Pays 0.924 11/04/2044 EUR 69.050
Single Platform 0.950 2/15/2044 EUR 63.277
Communaute Fran 2.100 6/30/2067 EUR 77.550
Norddeutsche La 1.200 8/20/2035 EUR 71.452
Agence France L 0.550 6/20/2040 EUR 71.834
Ukraine Governm 7.253 3/15/2033 USD 26.852
Credit Agricole 6.000 2/26/2027 BRL 76.011
Bayerische Land 0.745 12/15/2031 EUR 82.518
Region de Bruxe 1.750 1/17/2048 EUR 78.867
Grand Delta Hab 1.500 09/01/2049 EUR 50.324
Single Platform 1.060 04/01/2042 EUR 68.043
Muenchener Hypo 0.620 7/22/2033 EUR 72.156
UniCredit Bank 2.250 10/14/2039 EUR 77.116
Deutsche Bank A 0.600 10/08/2030 EUR 76.609
Norddeutsche La 1.090 11/15/2043 EUR 71.789
State of Rhinel 0.100 10/01/2040 EUR 64.752
Republic of Ire 0.740 9/22/2078 EUR 50.509
Citigroup Globa 1.370 7/27/2051 EUR 61.717
Credit Agricole 2.750 12/12/2034 AUD 76.822
Landesbank Hess 1.200 02/09/2052 EUR 78.255
Getin Noble Ban 8.290 7/28/2023 PLN 62.875
State of North 0.800 7/30/2049 EUR 68.372
Societe Du Gran 1.923 5/25/2066 EUR 73.948
Morgan Stanley 1.105 6/18/2041 EUR 65.961
BNG Bank NV 0.799 7/25/2039 EUR 76.705
Lehman Brothers 2.234 3/16/2035 EUR 0.100
Landesbank Bade 0.250 5/27/2037 EUR 70.851
Metropole de Ly 0.462 12/07/2045 EUR 60.670
Agrokor dd 9.125 02/01/2020 EUR 15.000
Petromena ASA 9.750 5/24/2016 NOK 0.607
State of Lower 0.585 10/11/2049 EUR 61.286
Single Platform 0.870 6/20/2043 EUR 62.738
Single Platform 1.442 7/25/2053 EUR 66.361
Lehman Brothers 5.100 05/08/2017 HKD 0.100
Raiffeisenlande 1.500 10/21/2039 EUR 70.211
Region of Chely 6.000 12/17/2027 RUB 62.060
UBS AG/London 9.500 6/30/2022 USD 69.250
Region of Chely 6.000 12/17/2027 RUB 62.060
SkyGreen Buildi 3.000 12/29/2030 HUF 61.800
SG Issuer SA 2.270 02/04/2032 EUR 57.320
Erste Group Ban 6.250 3/29/2023 EUR 56.000
Leonteq Securit 20.000 6/29/2022 CHF 23.880
SG Issuer SA 7.740 7/20/2025 SEK 37.680
Resursosberezhe 11.000 6/17/2031 RUB 60.050
Reso-Leasing OO 7.500 06/02/2024 RUB 86.510
Nordea Bank Abp 7.250 7/20/2023 EUR 71.250
Societe General 18.000 5/31/2024 USD 30.850
DeltaCredit Ban 1.000 9/29/2026 RUB 65.010
SG Issuer SA 11.170 7/20/2025 SEK 23.080
ENVIEN Magyaror 2.500 5/18/2031 HUF 67.580
Raiffeisen Swit 11.000 7/26/2022 CHF 51.580
UBS AG/London 8.250 4/21/2023 CHF 69.100
Landesbank Hess 1.000 06/12/2035 EUR 75.750
RUSNANO AO 6.750 3/26/2024 RUB 72.950
Kalita OOO 15.000 09/12/2023 RUB 8.810
Landesbank Bade 2.234 2/20/2034 EUR 76.900
Societe General 16.000 08/01/2024 USD 17.500
Region de Bruxe 1.250 01/10/2060 EUR 62.478
BNP Paribas SA 3.590 7/20/2040 AUD 71.737
Caisse des Depo 1.290 05/05/2051 EUR 75.925
Credit Agricole 2.400 5/17/2048 EUR 61.030
Standard Charte 0.520 1/22/2041 JPY 70.098
Ukraine Governm 5.000 2/20/2032 UAH 27.067
Oberoesterreich 0.315 9/14/2035 EUR 73.409
Ukraine Governm 6.000 06/12/2030 UAH 33.854
Belfius Bank SA 0.190 1/28/2031 EUR 76.514
Lehman Brothers 8.000 3/21/2018 USD 0.100
Credit Agricole 15.000 6/18/2026 TRY 50.242
Office Public D 1.700 12/22/2060 EUR 77.618
Natixis SA 2.300 12/24/2035 AUD 67.678
Region de Bruxe 1.310 12/15/2069 EUR 59.981
Ukraine Governm 10.570 05/10/2027 UAH 55.526
Ukraine Governm 8.220 05/10/2035 UAH 35.208
Lehman Brothers 11.000 12/20/2017 AUD 0.100
Republic of Aus 0.850 6/30/2120 EUR 43.842
Purple Protecte 1.598 02/05/2061 EUR 70.142
Agence Francais 0.368 01/12/2046 EUR 64.299
Credit Agricole 10.800 3/24/2026 TRY 43.206
Credit Agricole 10.200 08/06/2026 TRY 40.643
Ukraine Governm 6.000 5/16/2029 UAH 36.527
Ukraine Governm 6.000 06/04/2031 UAH 31.843
Ukraine Governm 9.700 06/07/2028 UAH 50.158
Region Provence 0.569 10/01/2038 EUR 70.827
LBI ehf 7.431 USD 0.001
Department of G 0.765 4/29/2036 EUR 77.511
Raiffeisen-Land 1.470 05/03/2069 EUR 73.891
SAir Group 5.500 7/23/2003 CHF 12.625
SAir Group 6.250 10/27/2002 CHF 12.625
MFB Magyar Fejl 3.000 10/27/2027 HUF 76.925
Tonon Luxembour 9.250 1/24/2020 USD 0.500
Brussels Munici 0.336 12/15/2035 EUR 75.003
Harp Issuer PLC 1.400 2/14/2032 USD 73.856
Ukraine Governm 9.990 5/22/2024 UAH 65.912
BNP Paribas SA 1.125 11/05/2034 EUR 72.342
Lehman Brothers 7.375 9/20/2008 EUR 0.100
Deutsche Bank A 0.710 9/24/2031 EUR 69.685
Single Platform 1.010 3/20/2051 EUR 59.113
Single Platform 1.033 2/15/2046 EUR 61.384
Deutsche Bank A 2.480 12/10/2035 EUR 74.387
Region Bretagne 0.815 06/12/2040 EUR 71.326
Single Platform 0.695 6/25/2039 EUR 63.929
Single Platform 1.050 6/25/2044 EUR 64.788
Allgemeine Spar 2.040 9/20/2033 EUR 73.953
Ringkjoebing La 1.875 06/06/2039 EUR 74.143
Credit Agricole 12.000 11/17/2025 TRY 46.983
NRW Bank 0.835 9/24/2041 EUR 74.491
Kreditanstalt f 0.951 09/09/2050 EUR 70.867
Standard Charte 0.500 09/11/2040 JPY 70.039
Zurcher Kantona 6.750 07/01/2022 CHF 65.260
VTB Bank PJSC 2.000 4/29/2026 RUB 85.010
SG Issuer SA 6.700 07/10/2024 EUR 54.610
Societe General 1.580 9/16/2024 USD 0.090
Erste Group Ban 1.700 11/30/2027 RON 68.450
Maxima Telecom 9.750 5/21/2024 RUB 72.560
Agrar Mezogazda 2.900 8/24/2031 HUF 66.880
Skandinaviska E 6.700 7/15/2024 SEK 69.680
Aragon OOO 24.000 3/16/2029 RUB 101.500
Raiffeisen Schw 18.000 10/12/2022 CHF 49.630
Barclays Bank P 0.750 08/02/2029 EUR 74.200
UniCredit Bank 4.050 11/19/2024 EUR 74.580
Leonteq Securit 12.000 01/11/2023 CHF 40.490
Sberbank of Rus 0.010 03/06/2028 RUB 76.310
Landesbank Hess 1.100 12/27/2034 EUR 76.000
Societe General 18.000 11/02/2023 USD 27.350
Rosbank PJSC 0.040 4/30/2024 RUB 60.050
Rosbank PJSC 0.030 4/30/2024 RUB 60.050
Rosbank PJSC 0.020 4/30/2024 RUB 60.050
Rosbank PJSC 0.010 4/30/2024 RUB 60.050
Landesbank Hess 1.000 10/23/2035 EUR 74.000
United Confecti 7.000 04/03/2023 RUB 100.230
Pervyi Konteine 0.010 02/06/2026 RUB 69.050
Bank Vontobel A 9.250 12/04/2023 EUR 64.400
Leonteq Securit 25.200 10/04/2022 CHF 44.270
DZ Bank AG Deut 5.800 9/23/2022 EUR 66.040
EFG Internation 15.400 12/23/2022 USD 31.590
DZ Bank AG Deut 7.000 7/22/2022 EUR 67.470
Luzerner Kanton 7.600 8/16/2022 CHF 54.970
Maxima Telecom 10.750 7/14/2026 RUB 69.300
Landesbank Hess 1.350 7/30/2035 EUR 76.200
Raiffeisen Schw 18.520 7/13/2022 CHF 27.070
Leonteq Securit 9.250 7/29/2022 EUR 67.990
Credit Suisse A 16.000 08/05/2022 USD 22.760
UBS AG/London 13.250 04/06/2023 USD 71.100
UBS AG/London 21.250 2/20/2023 CHF 33.850
Zurcher Kantona 12.000 10/26/2022 USD 67.660
EFG Internation 10.000 9/20/2023 USD 72.630
KESZ Holding Bu 2.800 6/17/2031 HUF 68.925
Vontobel Financ 8.850 07/08/2022 EUR 63.850
DZ Bank AG Deut 3.050 7/22/2022 EUR 67.070
Raiffeisen Schw 18.500 9/27/2022 USD 36.980
Leonteq Securit 10.000 12/07/2022 USD 75.440
Landesbank Bade 6.750 11/25/2022 EUR 41.950
Bank Julius Bae 6.600 12/16/2022 USD 58.850
Landesbank Bade 6.200 9/23/2022 EUR 72.830
UBS AG/London 9.750 3/15/2023 CHF 27.620
Leonteq Securit 15.000 4/21/2023 CHF 47.030
Biznes Nedvizhi 10.800 12/18/2026 RUB 62.000
Landesbank Bade 4.950 3/24/2023 EUR 78.830
UniCredit Bank 10.850 04/12/2023 EUR 61.800
Basler Kantonal 19.000 2/16/2023 CHF 66.230
MKB-Leasing OOO 21.700 12/22/2027 RUB 65.000
UBS AG/London 7.000 1/26/2024 USD 59.650
MKB-Leasing OOO 23.000 10/12/2026 RUB 70.000
Credit Suisse A 7.500 9/29/2022 USD 66.420
UBS AG/London 5.750 12/29/2023 CHF 65.350
Corner Banca SA 11.000 11/29/2022 CHF 27.400
Barclays Bank P 24.450 11/29/2022 USD 40.500
Zurcher Kantona 15.200 9/21/2022 USD 27.660
Credit Suisse A 9.500 01/12/2023 USD 74.020
BNP Paribas SA 23.000 11/25/2022 USD 60.500
Zurcher Kantona 7.000 11/22/2022 CHF 26.580
Leonteq Securit 10.000 4/25/2023 USD 78.720
Barclays Bank P 2.650 11/04/2031 EUR 73.650
SG Issuer SA 5.000 5/23/2024 EUR 54.260
Corner Banca SA 10.400 12/14/2022 CHF 29.290
Banque Internat 7.500 7/28/2022 USD 68.180
Societe General 22.000 11/03/2022 USD 58.100
Muehl Product & 6.750 03/10/2005 DEM 0.106
Specialized Fin 14.000 8/18/2023 RUB 60.050
Aragon OOO 9.500 07/10/2029 RUB 101.000
Landesbank Hess 1.000 11/29/2034 EUR 75.900
DeltaCredit Ban 1.000 10/20/2025 RUB 72.060
Alteo Nyrt 3.150 10/28/2029 HUF 59.500
DeloPorts LLC 0.010 11/14/2025 RUB 72.930
Vontobel Financ 25.700 12/27/2022 CHF 64.370
Nordea Bank Abp 6.100 7/20/2024 SEK 64.250
ITK Holding zrt 2.900 6/23/2031 HUF 57.600
Bank Julius Bae 7.000 07/06/2023 CHF 78.550
SUN Group Keres 5.500 1/17/2032 HUF 69.050
Bank Julius Bae 10.500 03/07/2023 EUR 75.450
Landesbank Bade 4.400 11/25/2022 EUR 74.050
Bayerische Land 1.770 5/15/2036 EUR 84.080
Nederlandse Wat 1.080 10/26/2050 EUR 71.888
NRW Bank 1.245 11/04/2051 EUR 74.373
Deutsche Apothe 1.616 1/15/2038 EUR 73.511
NRW Bank 1.021 08/11/2051 EUR 71.634
Nykredit Realkr 1.182 1/17/2034 EUR 73.126
Ukraine Governm 7.750 09/01/2023 USD 35.609
HSBC Continenta 2.890 09/11/2039 AUD 69.013
Single Platform 0.462 2/15/2040 EUR 61.396
Landshypotek Ba 1.680 1/20/2042 SEK 73.354
Lehman Brothers 1.280 11/06/2010 JPY 0.100
Kreditanstalt f 1.000 10/20/2050 EUR 71.889
Assistance Publ 0.666 3/19/2040 EUR 69.899
Kreditanstalt f 1.208 03/10/2051 EUR 76.601
Credit Mutuel A 1.165 9/23/2039 EUR 65.243
NRW Bank 1.180 03/03/2051 EUR 76.898
Wirtschafts- un 0.250 9/16/2037 EUR 70.707
Deutsche Pfandb 0.765 09/12/2036 EUR 59.174
Nederlandse Wat 0.877 6/24/2054 EUR 68.924
Municipality of 0.460 9/20/2049 EUR 63.420
Societe General 2.880 09/10/2034 AUD 66.618
Single Platform 2.080 4/30/2045 EUR 76.691
Single Platform 1.762 5/25/2066 EUR 62.893
Citigroup Globa 0.660 8/25/2033 EUR 72.609
Norddeutsche La 1.750 4/14/2037 EUR 77.003
Hamburgische In 0.372 2/22/2041 EUR 68.150
Cooperatieve Ra 0.500 8/21/2028 MXN 54.328
ABN AMRO Bank N 1.171 04/04/2044 EUR 74.967
Norddeutsche La 1.600 4/14/2037 EUR 76.292
Region Bourgogn 0.799 05/06/2041 EUR 70.134
Region Wallonne 0.250 12/29/2036 EUR 70.541
SG Issuer SA 0.900 04/07/2036 EUR 72.708
Banque et Caiss 0.900 08/06/2042 EUR 76.331
Agence Francais 2.330 02/10/2041 AUD 66.842
Societe General 2.050 2/18/2031 AUD 69.500
Banque Internat 1.500 1/20/2037 EUR 73.055
Region de Bruxe 0.460 12/15/2051 EUR 51.875
Credit Industri 1.170 1/28/2037 EUR 63.459
BNG Bank NV 0.562 06/07/2051 EUR 67.449
Single Platform 1.535 5/25/2052 EUR 67.581
Societe General 2.300 1/28/2036 USD 67.313
Region Wallonne 0.850 1/26/2071 EUR 46.095
Wirtschafts- un 0.192 1/28/2042 EUR 64.466
Single Platform 1.013 12/20/2050 EUR 58.218
Caisse des Depo 1.018 2/16/2051 EUR 71.120
Turkey Governme 6.750 5/30/2040 USD 73.800
Northland Resou 15.000 7/15/2019 USD 2.621
Hema Bondco II 8.500 1/15/2023 EUR 0.113
Single Platform 0.950 5/17/2038 EUR 69.532
Credit Mutuel A 1.555 5/14/2035 EUR 76.922
HSBC Continenta 1.200 9/26/2039 EUR 69.228
Specialfastighe 1.215 5/14/2035 SEK 70.147
Assistance Publ 0.800 3/23/2046 EUR 66.327
Lehman Brothers 7.060 12/29/2008 EUR 0.100
Natixis SA 2.150 10/23/2035 USD 72.242
Region de Bruxe 1.500 6/22/2070 EUR 65.461
Goldman Sachs I 2.520 03/03/2036 USD 75.277
SG Issuer SA 0.600 03/07/2033 EUR 75.275
DZ Bank AG Deut 1.200 11/25/2050 EUR 67.841
Ministeries Van 0.600 11/19/2055 EUR 50.893
Ministeries Van 0.400 11/20/2043 EUR 62.606
Republic of Ire 1.100 11/12/2096 EUR 52.424
Lloyds Bank PLC 2.637 1/16/2040 AUD 69.611
Societe General 0.570 3/15/2036 EUR 76.883
Credit Agricole 11.400 10/28/2025 TRY 46.145
NRW Bank 0.642 02/09/2051 EUR 66.716
Communaute Fran 1.115 07/11/2039 EUR 73.648
Credit Agricole 1.280 12/05/2039 EUR 71.357
Aktia Bank Oyj 0.690 02/04/2036 EUR 73.440
Landeskreditban 2.500 5/21/2036 AUD 73.638
Nederlandse Wat 0.448 10/08/2040 EUR 70.182
Oberbank AG 0.230 10/07/2041 EUR 64.154
Single Platform 1.165 06/06/2046 EUR 65.245
Region de Bruxe 0.930 05/03/2051 EUR 62.363
Lehman Brothers 5.500 6/22/2010 USD 0.100
Societe General 3.040 1/19/2032 AUD 76.402
Societe Wallonn 0.913 7/31/2040 EUR 64.825
Cooperatieve Ra 0.540 08/03/2040 EUR 68.432
Free and Hansea 1.095 6/13/2046 EUR 74.957
DZ Bank AG Deut 0.200 10/02/2034 EUR 72.844
Kuntarahoitus O 0.815 2/24/2061 EUR 62.917
BNG Bank NV 0.680 03/04/2050 EUR 61.512
Credit Agricole 1.000 04/06/2035 EUR 71.896
Single Platform 0.810 04/01/2042 EUR 61.691
CDC Habitat SEM 1.060 5/22/2036 EUR 66.603
Nederlandse Wat 0.932 12/02/2060 EUR 66.191
Wirtschafts- un 0.650 02/08/2039 EUR 67.827
Single Platform 1.850 11/05/2040 EUR 75.874
Lehman Brothers 7.600 3/26/2009 EUR 0.100
LFA Foerderbank 0.250 9/30/2039 EUR 68.687
Department of B 0.432 02/01/2046 EUR 60.025
Agence France L 0.330 12/20/2040 EUR 68.026
BPCE SA 1.920 12/09/2030 AUD 72.455
Lehman Brothers 4.000 2/28/2010 EUR 0.100
UBS Group AG 2.300 12/03/2035 AUD 68.308
State of Bremen 0.936 9/28/2046 EUR 70.817
Ukraine Governm 11.940 6/24/2026 UAH 61.927
Lehman Brothers 7.550 12/29/2008 USD 0.100
Cie de Financem 0.900 7/18/2058 EUR 59.842
SAir Group 2.125 11/04/2004 CHF 12.625
Muenchener Hypo 0.420 11/16/2033 EUR 75.644
Ukraine Governm 9.500 7/16/2025 UAH 61.516
Norddeutsche La 1.470 06/04/2035 EUR 75.151
Communaute Fran 0.948 10/11/2059 EUR 59.057
Raiffeisen-Land 0.050 9/13/2033 EUR 75.974
Region Occitani 0.834 11/18/2044 EUR 67.928
BNP Paribas SA 3.700 10/04/2039 AUD 69.473
Hypo Vorarlberg 1.020 1/17/2035 EUR 72.588
Credito Padano 3.100 EUR 33.849
SAir Group 6.250 04/12/2005 CHF 12.625
Kommunalkredit 0.570 9/15/2037 EUR 72.893
Barclays Bank P 3.130 04/09/2051 USD 70.563
Ukraine Governm 11.900 10/08/2025 UAH 64.874
BNP Paribas SA 3.180 7/23/2034 AUD 73.827
Communaute Fran 1.520 7/22/2069 EUR 63.495
Hypo Vorarlberg 0.741 10/16/2036 EUR 66.932
United Kingdom 0.625 10/22/2050 GBP 61.672
Lehman Brothers 8.000 4/20/2009 EUR 0.100
DZ HYP AG 0.205 06/05/2040 EUR 63.152
Kreditanstalt f 0.918 10/11/2050 EUR 70.305
Deutsche Bank A 0.500 04/05/2038 MXN 21.017
Lehman Brothers 3.000 08/08/2017 EUR 0.100
Single Platform 1.920 11/05/2040 EUR 77.735
Single Platform 1.235 12/20/2050 EUR 62.330
Region de Bruxe 1.922 4/24/2059 EUR 76.365
Ringkjoebing La 1.100 10/30/2035 EUR 69.681
DZ Bank AG Deut 0.300 5/30/2035 EUR 75.331
Batigere Grand 1.610 10/23/2040 EUR 59.323
Landesbank Bade 1.000 7/17/2039 EUR 70.920
VTB Bank PJSC 0.010 11/25/2025 RUB 88.520
UBS AG/London 16.500 6/30/2022 USD 43.200
VTB Bank PJSC 0.010 12/29/2023 RUB 83.690
Landesbank Bade 1.250 7/17/2039 EUR 70.660
Eltex Kft 3.500 12/21/2028 HUF 69.000
Credit Suisse A 16.300 12/26/2023 USD 51.960
Leonteq Securit 7.500 6/28/2022 CHF 65.810
WEB Windenergie 2.250 9/25/2028 EUR 0.010
Societe General 0.705 11/12/2035 EUR 67.190
UBS AG/London 11.500 11/14/2022 EUR 66.450
Leonteq Securit 5.200 10/03/2022 CHF 49.160
EFG Internation 8.400 10/10/2022 CHF 53.050
Landesbank Bade 1.500 4/24/2039 EUR 72.510
EFG Internation 3.900 08/03/2022 USD 59.970
Erste Group Ban 14.500 5/31/2026 EUR 60.650
UBS AG/London 10.500 10/28/2022 USD 52.900
UBS AG/London 11.000 10/28/2022 USD 64.250
Leonteq Securit 9.000 10/31/2022 CHF 51.460
Daniella Keresk 3.000 7/30/2030 HUF 65.660
Danske Bank A/S 9.430 07/09/2024 SEK 58.890
Banque Internat 1.215 03/05/2040 EUR 71.609
Hypo Vorarlberg 1.020 7/15/2041 EUR 65.157
Muenchener Hypo 0.040 1/17/2031 EUR 77.341
Region de Bruxe 0.910 1/31/2053 EUR 60.408
Hypo Tirol Bank 0.645 7/21/2031 EUR 76.817
Citigroup Globa 1.010 10/28/2035 EUR 71.620
Region de Bruxe 0.844 12/22/2047 EUR 63.293
Region Wallonne 1.222 6/24/2080 EUR 51.334
Societe Nationa 2.931 1/14/2051 AUD 70.616
Banque Internat 1.190 1/18/2041 EUR 71.102
Credit Agricole 3.100 4/28/2041 AUD 74.488
Single Platform 1.450 9/14/2040 EUR 72.911
Landesbank Hess 0.550 8/19/2032 EUR 75.856
NRW Bank 0.533 1/21/2041 EUR 69.930
Lehman Brothers 4.100 06/10/2014 SGD 0.100
NIBC Bank NV 0.660 7/14/2031 EUR 70.834
Natixis SA 2.780 10/05/2036 AUD 72.254
Kingdom of Belg 0.675 07/07/2080 EUR 43.401
Banco Santander 1.020 01/04/2034 EUR 72.646
Lehman Brothers 4.800 11/16/2012 HKD 0.100
Ukraine Governm 9.700 12/08/2027 UAH 51.470
LBI ehf 7.431 USD 0.001
Credit Agricole 0.650 11/05/2034 EUR 70.645
Nomura Bank Int 1.150 10/06/2036 EUR 69.716
Muenchener Hypo 1.002 2/21/2050 EUR 70.499
Credit Agricole 3.020 4/22/2036 AUD 78.338
Ireland Governm 0.550 4/22/2041 EUR 71.572
Muenchener Hypo 0.190 7/23/2030 EUR 76.777
Norddeutsche La 1.520 02/11/2038 EUR 71.208
Hypo-Bank Burge 1.010 10/29/2049 EUR 70.098
Single Platform 1.075 6/26/2052 EUR 58.795
Natixis SA 3.630 6/14/2039 AUD 76.401
Region Wallonne 1.150 09/02/2120 EUR 41.797
Credit Agricole 14.280 11/05/2026 TRY 48.016
Norddeutsche La 0.900 10/20/2036 EUR 68.761
Region Wallonne 1.300 6/16/2068 EUR 58.501
Region de Bruxe 1.065 06/12/2058 EUR 58.773
Credit Agricole 10.500 2/16/2027 TRY 39.498
Officine Maccaf 5.750 06/01/2021 EUR 16.600
Hypo Vorarlberg 1.590 8/25/2050 EUR 65.526
Hypo Vorarlberg 0.860 10/24/2034 EUR 71.675
Deutsche Bank A 0.510 9/16/2031 EUR 74.400
National Grid E 1.608 8/24/2040 GBP 64.597
Batigere Grand 1.709 11/04/2042 EUR 56.867
Region Auvergne 0.250 10/23/2034 EUR 75.595
Communaute Fran 2.000 4/14/2076 EUR 74.710
Credit Agricole 11.190 1/15/2026 TRY 44.744
Hemso Fastighet 2.418 11/30/2038 EUR 70.886
Wirtschafts- un 0.200 12/14/2045 EUR 59.893
Corner Banca SA 10.080 3/22/2023 CHF 63.110
Credit Suisse A 6.900 3/20/2023 USD 1.490
Landesbank Bade 0.500 08/12/2038 EUR 71.090
Leonteq Securit 12.000 6/29/2022 CHF 46.400
Credit Suisse A 8.000 8/30/2024 USD 8.690
Barclays Bank P 2.150 4/28/2031 EUR 69.680
Raiffeisen Swit 6.500 04/12/2023 CHF 59.090
Appeninn Holdin 3.500 11/22/2029 HUF 60.800
Sberbank of Rus 0.010 1/19/2026 RUB 82.710
Corner Banca SA 12.000 10/19/2022 EUR 66.200
LP Portfolio Va 2.800 11/30/2030 HUF 59.300
Landesbank Bade 4.100 6/27/2025 EUR 72.380
State of Saxony 1.722 07/03/2028 EUR 60.000
Basler Kantonal 10.000 2/13/2023 CHF 54.910
Basler Kantonal 12.000 12/22/2022 CHF 52.760
STAVMAT Epitoan 3.000 7/20/2031 HUF 65.100
Zurcher Kantona 12.000 7/14/2022 CHF 27.270
DekaBank Deutsc 2.700 01/12/2024 EUR 70.270
Credit Suisse A 12.400 9/25/2023 EUR 30.490
Zurcher Kantona 18.000 9/20/2022 USD 76.400
UBS AG/London 9.250 1/30/2023 USD 31.050
VTB Bank PJSC 0.010 12/20/2024 RUB 61.510
VTB Bank PJSC 0.010 12/13/2024 RUB 59.260
Leonteq Securit 12.000 5/30/2023 CHF 73.740
MOL Nyrt Kueloe 4.950 1/26/2032 HUF 74.140
BNP Paribas Emi 7.950 03/07/2023 EUR 72.660
Zurcher Kantona 9.000 12/30/2022 CHF 39.660
Banque Internat 11.000 3/21/2023 CHF 65.520
Landesbank Bade 7.600 9/23/2022 EUR 73.760
SG Issuer SA 0.010 6/22/2033 EUR 71.810
EFG Internation 7.400 6/23/2023 CHF 77.310
UBS AG/London 17.750 08/04/2022 CHF 27.080
Nordea Bank Abp 4.600 1/20/2029 SEK 62.970
Societe General 10.260 7/28/2025 USD 64.070
Hell Energy Mag 2.700 12/18/2029 HUF 58.600
Landesbank Bade 0.500 1/17/2040 EUR 69.000
B+N Referencia 2.900 12/20/2029 HUF 64.300
LP Portfolio Va 2.640 01/08/2030 HUF 70.755
Landesbank Bade 1.250 06/05/2039 EUR 71.720
Landesbank Bade 1.000 06/05/2039 EUR 72.300
Landesbank Bade 1.000 6/26/2039 EUR 71.670
Landesbank Bade 1.250 6/26/2039 EUR 70.720
Landesbank Bade#N/A N/A 6/26/2039 EUR 70.540
Nordea Bank Abp 7.050 7/20/2024 SEK 62.250
Landesbank Hess 0.600 9/27/2034 EUR 74.200
MARSO Ltd 2.300 12/17/2029 HUF 69.300
Landesbank Bade 0.700 09/05/2039 EUR 68.300
Landesbank Bade 0.150 09/11/2039 EUR 67.180
Skandinaviska E 7.150 1/15/2025 SEK 53.700
Landesbank Bade 0.400 11/08/2039 EUR 68.170
Gold-Zack AG 7.000 12/14/2005 EUR 1.500
Landesbank Hess 0.500 12/06/2034 EUR 75.600
ENSI Kft 4.750 1/25/2032 HUF 67.000
Danske Bank A/S 6.500 01/09/2027 SEK 71.500
Leonteq Securit 18.000 08/02/2022 CHF 53.500
Corner Banca SA 12.800 12/07/2022 CHF 50.130
Anselma Issuer 1.574 12/31/2038 EUR 73.730
Luzerner Kanton 14.480 2/14/2023 CHF 77.370
Biggeorge Prope 5.100 2/18/2032 HUF 77.810
Landesbank Bade 0.500 12/02/2039 EUR 69.280
Caisse des Depo 0.571 2/18/2041 EUR 71.700
Assistance Publ 1.665 04/10/2049 EUR 78.907
Landeskreditban 0.547 2/18/2041 EUR 68.682
DZ Bank AG Deut 1.470 1/20/2042 EUR 73.232
State of Lower 0.400 10/13/2050 EUR 56.627
Norddeutsche La 0.725 9/14/2033 EUR 73.111
Oberoesterreich 0.285 11/06/2042 EUR 62.979
Single Platform 1.270 5/15/2035 EUR 77.081
Banque Internat 1.085 10/22/2040 EUR 69.714
Credit Agricole 15.000 7/14/2026 TRY 49.958
Oberoesterreich 1.014 9/16/2049 EUR 57.845
Citigroup Globa 1.380 11/04/2041 EUR 68.508
Caisse des Depo 1.114 9/20/2049 EUR 75.486
UBS Group AG 2.490 03/04/2036 USD 73.278
Norddeutsche La 1.470 12/23/2037 EUR 70.516
Single Platform 0.873 5/25/2052 EUR 53.771
Societe General 1.290 12/19/2034 EUR 74.171
Credit Agricole 11.640 3/24/2027 TRY 41.528
BNP Paribas SA 2.720 12/12/2034 AUD 69.261
Norddeutsche La 1.350 10/20/2038 EUR 70.694
Caisse des Depo 0.642 02/12/2041 EUR 72.151
Banque Internat 1.010 12/12/2039 EUR 69.768
Muenchener Hypo 0.790 12/21/2035 EUR 67.612
Credit Agricole 1.830 02/04/2031 AUD 77.000
Banque Internat 1.250 2/18/2041 EUR 72.443
Banque Internat 1.020 3/25/2040 EUR 69.703
Region Provence 0.623 10/15/2035 EUR 77.812
DZ HYP AG 1.033 12/06/2049 EUR 70.317
Barclays Bank P 1.340 02/01/2051 EUR 69.677
Vasakronan AB 1.310 12/10/2040 EUR 69.310
Norddeutsche La 0.700 03/12/2036 EUR 67.026
Communaute Fran 0.392 1/22/2041 EUR 65.503
Bayerische Land 0.450 02/12/2031 EUR 80.783
HSBC Continenta 2.040 3/29/2049 EUR 75.625
DekaBank Deutsc 1.850 3/20/2045 EUR 66.844
Caisse des Depo 2.630 9/16/2049 AUD 66.842
Centrosolar Gro 7.000 2/15/2016 EUR 2.505
Raiffeisenlande 2.070 6/18/2049 EUR 73.305
Landesbank Hess 0.900 07/08/2036 EUR 70.586
Deutsche Bank A 0.700 02/06/2032 EUR 75.526
Nederlandse Wat 0.260 11/10/2036 EUR 73.348
Landesbank Bade 1.300 6/21/2049 EUR 59.148
Gemeinde Weinfe 0.630 8/27/2046 CHF 76.294
Czech Republic 0.950 5/15/2030 CZK 72.767
Credit Agricole 3.200 3/19/2041 AUD 75.846
Banco Espirito 10.000 12/06/2021 EUR 0.181
Natixis SA 3.550 11/12/2041 AUD 74.580
NIBC Bank NV 2.105 10/10/2033 EUR 75.351
Single Platform 1.080 7/18/2036 EUR 73.359
Banque Internat 0.775 11/18/2032 EUR 76.597
Landesbank Bade 0.327 05/07/2038 EUR 70.654
Kreditanstalt f 0.650 2/24/2041 EUR 73.296
Lehman Brothers 3.600 3/19/2018 JPY 0.100
Citigroup Globa 1.000 3/19/2041 EUR 63.723
SNCF Reseau 1.475 3/30/2065 EUR 62.067
Banque Internat 1.300 03/04/2041 EUR 73.028
Landeskreditban 0.730 10/04/2050 EUR 67.756
Communaute Fran 1.187 9/16/2069 EUR 59.950
BNP Paribas SA 1.450 11/17/2041 EUR 69.384
Erste Group Ban 1.200 02/11/2040 EUR 69.296
BNG Bank NV 0.632 07/12/2066 EUR 58.915
Norddeutsche La 0.800 04/08/2036 EUR 68.129
Region de Bruxe 1.016 9/23/2057 EUR 58.145
Landesbank Bade 0.710 11/09/2035 EUR 66.459
Single Platform 1.000 7/15/2036 EUR 73.099
Single Platform 0.924 2/18/2049 EUR 54.469
Credit Agricole 15.000 6/18/2026 TRY 50.595
Landesbank Hess 1.235 12/10/2049 EUR 73.615
Single Platform 1.250 10/18/2035 EUR 76.368
DekaBank Deutsc 2.140 5/18/2046 EUR 71.554
Citigroup Globa 1.080 10/01/2036 EUR 70.710
Citigroup Globa 1.150 10/06/2036 EUR 71.536
Credit Agricole 10.800 3/24/2026 TRY 39.517
Caisse des Depo 0.820 03/10/2050 EUR 69.363
Credit Agricole 2.610 7/27/2050 USD 61.599
Societe General 1.270 11/25/2034 EUR 74.095
Ukraine Governm 12.500 2/21/2024 UAH 74.754
Single Platform 1.301 6/25/2044 EUR 66.012
Norddeutsche La 0.950 6/16/2033 EUR 76.461
Russian Foreign 5.100 3/28/2035 USD 18.687
HSBC Continenta 0.800 12/13/2034 EUR 73.354
Transports Publ 0.900 4/28/2037 CHF 74.543
HSBC Continenta 1.500 7/26/2049 EUR 67.617
BPCE SA 3.000 11/18/2036 AUD 71.028
Commerzbank AG 1.430 1/23/2040 EUR 71.726
Novafives SAS 4.500 6/15/2025 EUR 67.198
Norddeutsche La 1.000 10/13/2036 EUR 69.654
Credit Agricole 0.900 10/01/2034 EUR 72.475
Citigroup Globa 1.010 4/20/2036 EUR 70.489
Banque Federati 0.376 10/15/2031 EUR 77.028
Hypo Tirol Bank 1.010 1/20/2040 EUR 76.145
Republic of Ire 1.230 06/01/2120 EUR 57.162
DZ Bank AG Deut 1.000 2/18/2032 EUR 74.538
Norddeutsche La 0.850 05/12/2036 EUR 68.808
Svensk Exportkr 0.500 3/28/2029 AUD 75.186
Landesbank Hess 0.500 10/13/2033 EUR 72.536
Barclays Bank P 3.020 3/26/2051 USD 69.105
Norddeutsche La 1.170 11/24/2038 EUR 68.360
Romanian Govern 2.124 7/16/2031 EUR 71.605
Credito Padano 3.100 EUR 34.068
Caisse des Depo 0.323 06/04/2035 EUR 77.626
Region Auvergne 0.697 08/02/2036 EUR 76.275
Nomura Bank Int 1.450 12/10/2041 EUR 67.586
Credit Agricole 2.850 9/15/2051 AUD 68.968
Landeskreditban 0.812 12/16/2060 EUR 62.007
Single Platform 1.785 7/30/2042 EUR 76.861
Region de Bruxe 0.980 01/10/2051 EUR 62.079
Societe General 1.323 1/31/2034 USD 66.653
Region Auvergne 0.650 5/18/2038 EUR 72.195
Northland Resou 4.000 10/15/2020 NOK 0.271
Sidetur Finance 10.000 4/20/2016 USD 0.770
Nomura Bank Int 0.450 12/03/2030 EUR 75.697
Ukraine Governm 10.710 4/26/2028 UAH 53.277
Barclays Bank P 2.000 12/21/2029 USD 75.069
NRW Bank 1.245 09/07/2060 EUR 71.236
Societe General 6.100 04/03/2023 EUR 71.520
EFG Internation 8.620 8/24/2022 CHF 66.930
Societe General 5.600 09/04/2023 EUR 36.070
Vajda-Papir Gya 3.500 11/16/2030 HUF 65.900
Landesbank Hess 1.850 6/16/2036 EUR 73.100
DZ Bank AG Deut 0.097 10/11/2050 EUR 74.800
UBS AG/London 7.750 11/18/2022 USD 76.700
Otthon Centrum 3.000 4/19/2031 HUF 70.200
Vontobel Financ 10.000 07/06/2022 EUR 68.300
Landesbank Bade 7.000 4/28/2023 EUR 70.170
Skandinaviska E 6.800 1/15/2024 SEK 61.550
LFA Foerderbank 0.125 9/30/2038 EUR 68.685
Getin Noble Ban 11.720 11/30/2023 PLN 41.875
Hungary Governm 2.000 5/23/2029 HUF 68.711
Romanian Govern 2.000 4/14/2033 EUR 65.994
Republic of Aus 0.700 4/20/2071 EUR 52.433
Ukraine Governm 8.420 05/10/2034 UAH 36.703
Societe Nationa 2.820 4/28/2036 AUD 76.329
Ukraine Governm 9.700 10/06/2027 UAH 51.927
Ukraine Governm 9.820 02/12/2031 UAH 45.310
Lehman Brothers 4.600 10/11/2017 ILS 0.100
Lehman Brothers 10.000 10/22/2008 USD 0.100
Nederlandse Wat 1.200 11/26/2049 EUR 77.541
Slovakia Govern 1.000 10/13/2051 EUR 60.468
Region Provence 0.785 6/18/2040 EUR 72.022
Single Platform 0.767 2/15/2041 EUR 62.919
Nederlandse Wat 1.125 07/08/2050 EUR 73.095
Bayerische Land 0.940 7/16/2032 EUR 81.265
Serbia Internat 1.000 9/23/2028 EUR 73.967
Serbia Internat 2.050 9/23/2036 EUR 60.741
Bank Vontobel A 15.001 9/13/2022 CHF 28.900
VTB Bank PJSC 0.010 6/17/2025 RUB 90.010
Landesbank Bade 2.150 10/28/2022 EUR 76.150
Leonteq Securit 8.000 2/23/2023 USD 64.710
Leonteq Securit 7.400 12/01/2023 USD 63.560
Progress Ettere 3.000 9/18/2030 HUF 64.100
Axial Javito Ke 2.000 9/23/2030 HUF 59.829
Credit Suisse A 8.000 6/27/2022 EUR 61.600
Credit Suisse A 8.250 8/24/2022 EUR 61.670
Baromfi-Coop Te 3.000 7/19/2031 HUF 64.600
Leonteq Securit 8.000 2/13/2023 CHF 66.490
Basler Kantonal 7.000 7/14/2023 CHF 70.500
Leonteq Securit 22.520 07/06/2022 CHF 15.420
Zurcher Kantona 30.000 08/09/2022 USD 38.910
Credit Suisse A 12.000 7/14/2022 USD 48.910
Credit Suisse A 11.500 7/28/2022 USD 29.310
Landesbank Hess 1.000 10/14/2036 EUR 72.100
UBS AG/London 9.250 2/13/2023 USD 34.400
Credit Suisse A 11.500 7/13/2022 CHF 24.180
UBS AG/London 8.250 1/30/2023 CHF 69.000
MetMax Europe Z 3.000 12/11/2030 HUF 63.600
BNP Paribas Emi 14.000 9/22/2022 EUR #N/A N/A
Credit Suisse A 10.000 1/18/2023 USD 77.330
Credit Suisse A 8.500 1/18/2023 CHF 63.770
Credit Suisse A 13.750 1/18/2023 CHF 66.840
Credit Suisse A 9.000 12/29/2022 CHF 61.970
UBS AG/London 9.500 12/08/2023 USD 62.350
Leonteq Securit 21.360 08/08/2022 CHF 52.580
Citigroup Globa 9.160 12/18/2023 EUR 72.070
Credit Suisse A 9.000 2/22/2023 USD 68.890
DZ Bank AG Deut 7.500 12/21/2022 EUR 73.340
Credit Suisse A 15.000 07/07/2022 USD 25.680
DZ Bank AG Deut 24.900 2/24/2023 EUR 69.150
Credit Suisse A 13.500 8/17/2022 CHF 19.600
UBS AG/London 6.500 10/02/2024 USD #N/A N/A
Leonteq Securit 12.000 1/18/2023 CHF 54.720
SALVATOR Vermoe 9.500 EUR 7.900
DZ Bank AG Deut 0.910 6/25/2029 EUR 66.375
Leonteq Securit 7.150 7/26/2022 EUR 72.030
Infogroup Holdi 3.000 5/20/2031 HUF 59.900
Landesbank Bade 5.600 6/23/2023 EUR 66.920
Nordea Bank Abp 9.625 1/20/2027 SEK 65.920
Nordea Bank Abp 6.125 1/20/2027 SEK 72.550
Landesbank Bade 4.800 8/25/2023 EUR 53.000
Spain Governmen 1.450 10/31/2071 EUR 55.067
Landesbank Bade 0.400 02/12/2031 EUR 75.444
Region de Bruxe 1.535 04/05/2049 EUR 73.969
BNP Paribas SA 0.564 9/15/2031 EUR 75.127
Hemso Fastighet 2.000 2/15/2033 EUR 76.402
Ville de Paris 0.760 5/25/2066 EUR 48.407
Landesbank Bade 0.440 10/19/2035 EUR 73.901
BPCE SA 1.850 10/30/2030 AUD 72.345
UniCredit Bank 0.310 10/15/2035 EUR 74.220
Collectivite Eu 0.200 11/05/2035 EUR 72.424
Credit Agricole 2.105 10/22/2035 USD 69.743
Russian Foreign 5.875 9/16/2043 USD 24.755
Russian Foreign 4.875 9/16/2023 USD 26.769
Vasakronan AB 3.100 09/09/2039 AUD 70.679
Hungary Governm 1.625 4/28/2032 EUR 76.400
Serbia Internat 1.650 03/03/2033 EUR 64.151
Serbia Internat 1.650 03/03/2033 EUR 64.118
Maisons du Mond 0.125 12/06/2023 EUR 46.632
Region de Bruxe 0.900 4/14/2050 EUR 61.978
Pescanova SA 6.750 03/05/2015 EUR 0.319
Region of Centr 0.725 12/12/2039 EUR 70.735
Denmark Governm 0.250 11/15/2052 DKK 59.444
Republic of Aus 0.750 3/20/2051 EUR 67.752
BNP Paribas SA 1.000 1/23/2040 MXN 19.711
Kreditanstalt f 1.027 8/31/2046 EUR 77.503
Autonomous Comm 1.089 10/31/2049 EUR 60.165
Single Platform 1.048 2/15/2041 EUR 65.799
Region of Centr 0.668 11/02/2035 EUR 77.637
Deutsche Wohnen 2.125 9/26/2033 EUR 76.561
Single Platform 0.815 04/01/2042 EUR 59.510
DZ Bank AG Deut 0.550 09/09/2036 EUR 74.952
Muenchener Hypo 1.185 05/05/2059 EUR 71.173
Region Occitani 1.282 5/25/2040 EUR 77.841
Ukraine Governm 15.500 09/04/2024 UAH 77.399
Getin Noble Ban 10.930 4/29/2024 PLN 31.875
BPCE SA 1.980 10/06/2030 AUD 73.303
Lehman Brothers 10.000 6/17/2009 USD 0.100
Swiss Confedera 0.500 5/30/2058 CHF 71.568
Credit Industri 2.060 03/07/2036 EUR 73.153
Turkey Governme 10.500 08/11/2027 TRY 74.000
Ukraine Governm 11.890 05/06/2026 UAH 62.270
Ukraine Governm 11.780 06/03/2026 UAH 61.758
Getin Noble Ban 7.230 7/26/2024 PLN 40.612
Barclays Bank P 13.810 4/16/2024 TRY 59.536
Lehman Brothers 5.103 6/22/2046 EUR 0.100
Northland Resou 4.000 10/15/2020 USD 0.271
Credit Industri 0.805 9/21/2033 EUR 69.072
Societe General 2.200 12/17/2040 USD 59.290
Ukraine Governm 3.900 3/30/2023 USD 62.404
UBS AG/London 5.500 07/04/2022 CHF 74.850
UniCredit Bank 5.500 8/14/2023 EUR 72.000
Vontobel Financ 5.500 1/29/2024 EUR 72.020
Erste Group Ban 6.250 02/01/2026 EUR 72.550
VTB Bank PJSC 0.010 12/02/2025 RUB 56.530
UBS AG/London 8.250 07/07/2022 CHF 49.200
UBS AG/London 8.750 01/09/2023 CHF 31.500
UBS AG/London 8.250 07/07/2022 CHF 61.550
UBS AG/London 11.250 01/09/2023 CHF 65.750
UBS AG/London 8.250 07/07/2022 CHF 49.150
UBS AG/London 16.250 07/07/2022 CHF 28.140
UBS AG/London 16.300 01/08/2024 EUR 11.060
Zurcher Kantona 8.500 6/28/2022 USD 61.800
Leonteq Securit 9.000 6/30/2022 CHF 58.350
Bank Vontobel A 7.760 6/27/2022 CHF 51.900
Bank Vontobel A 8.252 6/27/2022 CHF 51.500
Bank Vontobel A 6.254 6/30/2022 CHF 56.100
UBS AG/London 10.500 6/30/2022 CHF 56.100
Sberbank of Rus 0.010 01/05/2024 RUB 51.150
UBS AG/London 15.500 6/30/2022 CHF 45.800
Republic of Udm 6.400 12/28/2025 RUB 61.020
Bank Vontobel A 7.758 01/09/2023 CHF 63.300
UBS AG/London 13.500 07/07/2022 CHF 49.650
UBS AG/London 10.750 07/07/2022 EUR 62.400
UBS AG/London 9.750 6/30/2022 CHF 29.960
UniCredit Bank 4.100 08/02/2023 EUR 64.530
Promsvyazbank P 0.010 12/14/2022 RUB 60.050
DekaBank Deutsc 1.000 1/20/2025 EUR 27.760
Sberbank of Rus 0.010 12/17/2025 RUB 73.400
UBS AG/London 6.250 12/23/2022 CHF 36.400
DekaBank Deutsc 2.500 02/02/2024 EUR 35.390
EFG Internation 7.000 12/29/2022 USD 14.220
Sberbank of Rus 0.010 12/22/2025 RUB 74.900
Sberbank of Rus 0.010 12/23/2024 RUB 86.610
Leonteq Securit 12.000 6/28/2022 CHF 69.000
Leonteq Securit 8.000 6/28/2022 CHF 53.470
DekaBank Deutsc 2.850 02/03/2023 EUR 66.990
Landesbank Hess 1.000 3/20/2035 EUR 72.150
EFG Internation 4.900 12/28/2023 USD 50.960
Leonteq Securit 10.000 6/28/2022 CHF 53.970
Leonteq Securit 10.000 6/28/2022 CHF 48.480
Rosselkhozbank 0.010 12/24/2023 RUB 65.020
UBS AG/London 12.750 01/03/2023 CHF 68.800
SG Issuer SA 4.950 01/10/2025 EUR 65.450
Sberbank of Rus 0.010 12/17/2025 RUB 74.500
Landesbank Hess 2.000 04/09/2035 EUR 71.850
Sberbank of Rus 1.550 09/12/2023 RUB 75.000
Zurcher Kantona 9.000 6/28/2022 CHF 55.220
EFG Internation 6.000 12/22/2023 USD 35.590
DZ Bank AG Deut 2.340 12/30/2030 EUR 74.460
Landesbank Bade 3.100 8/26/2022 EUR 41.940
Landesbank Bade 6.000 8/26/2022 EUR 32.580
Landesbank Bade 8.100 8/26/2022 EUR 29.000
Landesbank Bade 5.600 8/26/2022 EUR 74.620
Landesbank Bade 3.400 8/26/2022 EUR 72.490
Landesbank Bade 2.800 8/26/2022 EUR 46.770
Landesbank Bade 5.550 8/26/2022 EUR 38.640
Landesbank Bade 3.350 8/26/2022 EUR 74.810
Landesbank Bade 5.200 8/26/2022 EUR 67.850
Landesbank Bade 3.800 8/26/2022 EUR 74.530
Landesbank Bade 3.300 8/26/2022 EUR 74.230
Landesbank Bade 4.450 8/26/2022 EUR 68.800
Landesbank Bade 9.300 8/26/2022 EUR 70.960
Landesbank Bade 4.050 8/26/2022 EUR 25.110
Landesbank Bade 3.150 8/26/2022 EUR 53.640
Vontobel Financ 0.212 02/03/2023 EUR 50.500
Raiffeisen Swit 9.000 7/29/2022 CHF 51.990
UBS AG/London 9.000 02/03/2023 CHF 60.700
UBS AG/London 7.250 02/03/2023 CHF 59.950
UBS AG/London 14.250 02/03/2023 CHF 58.250
UBS AG/London 11.250 02/03/2023 CHF 62.100
UBS AG/London 8.000 02/03/2023 CHF 51.600
UBS AG/London 10.250 08/03/2022 CHF 51.950
UBS AG/London 15.000 08/03/2022 CHF 42.850
Raiffeisen Swit 10.100 02/08/2023 CHF 56.200
Leonteq Securit 9.000 02/08/2023 CHF 52.160
Citigroup Globa 12.379 11/13/2023 SEK 66.220
UniCredit Bank 4.000 11/21/2022 EUR 36.670
Landesbank Bade 2.650 10/27/2023 EUR 59.820
SG Issuer SA 7.000 7/20/2023 SEK 68.240
BNP Paribas Iss 6.310 07/05/2023 SEK 61.310
DZ Bank AG Deut 2.380 12/27/2028 EUR 75.255
Nordea Bank Abp 6.470 1/22/2024 SEK 67.870
Landesbank Bade 3.250 12/23/2022 EUR 54.800
Danske Bank A/S 8.050 07/09/2023 SEK 62.890
BNP Paribas Iss 3.000 01/08/2024 SEK 62.440
DekaBank Deutsc 3.350 11/28/2022 EUR 60.860
Vontobel Financ 3.000 09/05/2023 EUR 64.040
Landesbank Bade 2.150 12/23/2022 EUR 57.400
Zurcher Kantona 8.000 07/01/2022 CHF 54.100
Zurcher Kantona 17.250 07/01/2022 CHF 74.570
Zurcher Kantona 18.000 07/01/2022 USD 66.270
Zurcher Kantona 6.250 10/05/2022 CHF 73.380
Zurcher Kantona 9.000 07/05/2022 EUR 70.820
Bank Julius Bae 4.000 6/26/2023 CHF 70.050
Societe General 5.000 7/22/2022 EUR 70.700
Societe General 7.000 7/22/2022 EUR 66.250
Societe General 12.750 7/22/2022 EUR 70.660
Societe General 8.750 7/22/2022 EUR 63.500
Societe General 8.500 7/22/2022 EUR 64.150
Societe General 3.750 7/22/2022 EUR 74.730
Societe General 5.750 7/22/2022 EUR 68.920
Societe General 8.000 7/22/2022 EUR 69.410
Societe General 9.000 7/22/2022 EUR 67.470
Societe General 7.750 7/22/2022 EUR 67.420
Societe General 8.750 7/22/2022 EUR 65.830
Societe General 3.250 7/22/2022 EUR 73.620
Societe General 8.000 7/22/2022 EUR 64.570
Societe General 9.000 7/22/2022 EUR 62.910
Societe General 10.000 7/22/2022 EUR 67.500
Societe General 4.000 7/22/2022 EUR 61.930
Societe General 8.000 7/22/2022 EUR 46.730
Societe General 7.000 7/22/2022 EUR 69.160
Societe General 9.000 7/22/2022 EUR 63.720
Societe General 13.000 7/22/2022 EUR 56.510
Societe General 6.250 7/22/2022 EUR 63.410
Societe General 8.250 7/22/2022 EUR 59.220
Bank Julius Bae 9.000 6/27/2022 CHF 50.600
Leonteq Securit 8.000 6/28/2023 CHF 59.170
Leonteq Securit 16.000 6/28/2022 CHF 20.110
Leonteq Securit 18.000 9/28/2022 CHF 47.440
Corner Banca SA 14.000 9/28/2022 CHF 48.030
Corner Banca SA 17.000 6/28/2022 EUR 52.390
Leonteq Securit 17.000 6/28/2022 CHF 27.030
Leonteq Securit 14.000 12/28/2022 CHF 30.320
Raiffeisen Schw 12.000 12/28/2022 CHF 66.130
Leonteq Securit 8.000 12/28/2022 CHF 68.990
Leonteq Securit 6.400 6/28/2023 CHF 51.180
Leonteq Securit 12.000 9/28/2022 CHF 65.830
Leonteq Securit 12.000 6/28/2022 CHF 17.190
Leonteq Securit 8.000 12/28/2022 EUR 72.360
Leonteq Securit 13.000 6/28/2022 EUR 68.950
Leonteq Securit 17.000 6/28/2022 USD 23.660
Leonteq Securit 9.000 12/28/2022 USD 69.440
Raiffeisen Schw 12.000 6/29/2022 CHF 48.420
Raiffeisen Schw 13.000 6/29/2022 CHF 38.680
Raiffeisen Schw 10.000 6/29/2022 CHF 47.550
Raiffeisen Schw 20.000 6/29/2022 CHF 26.710
Raiffeisen Schw 11.000 6/29/2022 CHF 47.840
Raiffeisen Schw 7.200 12/29/2022 USD 74.550
EFG Internation 11.780 07/11/2022 USD 55.190
DZ Bank AG Deut 10.750 9/21/2022 EUR 45.260
DZ Bank AG Deut 8.500 9/21/2022 EUR 58.250
DZ Bank AG Deut 6.750 9/21/2022 EUR 57.290
DZ Bank AG Deut 9.000 9/21/2022 EUR 57.810
DZ Bank AG Deut 11.000 9/21/2022 EUR 58.280
DZ Bank AG Deut 6.250 9/21/2022 EUR 64.930
DZ Bank AG Deut 6.000 9/21/2022 EUR 65.840
DZ Bank AG Deut 6.500 9/21/2022 EUR 64.630
DZ Bank AG Deut 5.000 9/21/2022 EUR 70.600
DZ Bank AG Deut 5.750 9/21/2022 EUR 69.410
DZ Bank AG Deut 6.000 9/21/2022 EUR 61.660
DZ Bank AG Deut 6.250 9/21/2022 EUR 75.830
DZ Bank AG Deut 5.000 9/21/2022 EUR 67.280
Vontobel Financ 4.150 7/18/2023 EUR 56.040
Vontobel Financ 4.000 7/18/2023 EUR 66.950
Vontobel Financ 9.400 12/30/2022 CHF 36.130
Erste Group Ban 10.750 08/02/2022 EUR 45.500
Erste Group Ban 5.500 08/02/2025 EUR 60.800
Zurcher Kantona 7.000 01/09/2023 CHF 69.680
Zurcher Kantona 8.000 07/07/2022 EUR 69.650
Leonteq Securit 7.030 6/28/2023 CHF 57.820
UniCredit Bank 10.100 7/27/2022 EUR 35.980
UniCredit Bank 6.300 7/27/2022 EUR 36.760
UniCredit Bank 9.800 7/27/2022 EUR 55.900
UniCredit Bank 9.250 7/27/2022 EUR 58.710
Zurcher Kantona 6.500 1/13/2023 CHF 65.110
Zurcher Kantona 10.000 07/07/2022 CHF 60.920
Zurcher Kantona 5.000 1/13/2023 CHF 63.200
Zurcher Kantona 15.750 07/08/2022 USD 32.090
Bank Vontobel A 6.500 6/26/2023 CHF 49.700
Bank Vontobel A 6.502 6/26/2023 CHF 49.800
Bank Vontobel A 8.005 12/27/2022 CHF 55.200
Bank Vontobel A 6.000 12/27/2022 CHF 74.600
Bank Vontobel A 7.000 12/27/2022 CHF 53.400
Bank Vontobel A 5.750 6/26/2023 CHF 64.100
UniCredit Bank 4.650 7/30/2024 EUR 73.370
UniCredit Bank 3.950 7/30/2024 EUR 75.260
Zurcher Kantona 10.400 07/08/2022 CHF 50.180
Landesbank Bade 2.000 7/22/2022 EUR 59.840
Landesbank Bade 3.000 5/26/2023 EUR 51.620
Landesbank Hess 1.000 3/17/2036 EUR 70.250
Bank Vontobel A 8.008 08/05/2022 EUR 39.600
Bank Vontobel A 11.002 08/10/2022 CHF 60.200
Nordea Bank Abp 7.110 7/20/2023 SEK 67.870
UniCredit Bank 3.500 8/24/2022 EUR 43.450
UniCredit Bank 4.200 8/24/2022 EUR 54.430
SG Issuer SA 9.000 7/20/2023 SEK 63.250
Landesbank Bade 2.300 9/23/2022 EUR 63.080
TransFin-M PAO 15.650 02/04/2027 RUB 61.000
EFG Internation 6.200 2/20/2023 CHF 71.060
Raiffeisen Schw 4.600 2/20/2023 CHF 68.420
EFG Internation 8.160 2/26/2025 EUR 61.950
Leonteq Securit 6.000 2/20/2023 CHF 49.260
Leonteq Securit 6.800 2/20/2023 CHF 60.930
Credit Suisse A 6.000 8/22/2022 CHF 64.920
Leonteq Securit 5.040 2/21/2023 CHF 62.860
Raiffeisen Schw 4.500 2/21/2023 CHF 67.610
Raiffeisen Schw 6.000 8/24/2022 CHF 66.240
BNP Paribas Iss 7.050 01/05/2024 SEK 71.070
Citigroup Globa 7.200 5/24/2023 SEK #N/A N/A
UniCredit Bank 6.600 7/20/2028 EUR 25.710
Landesbank Bade 3.000 6/23/2023 EUR 53.370
Landesbank Bade 3.000 8/25/2023 EUR 50.290
SG Issuer SA 3.100 5/18/2028 EUR 67.310
Landesbank Bade 2.300 9/23/2022 EUR 62.470
VTB Bank PJSC 0.010 11/11/2025 RUB 48.950
VTB Bank PJSC 0.010 11/18/2025 RUB 53.400
VTB Bank PJSC 0.010 12/15/2023 RUB 87.390
Raiffeisen Swit 4.000 8/30/2022 CHF 28.070
Landesbank Bade 3.000 9/23/2022 EUR 46.790
UniCredit Bank 4.250 9/14/2022 EUR 66.460
Landesbank Bade 2.700 9/22/2023 EUR 54.770
Landesbank Hess 1.000 9/13/2034 EUR 75.800
Raiffeisen Schw 5.400 8/17/2022 CHF 67.720
Specialized Fin 15.342 2/15/2031 RUB 70.000
TransFin-M PAO 10.500 6/28/2027 RUB 60.000
Leonteq Securit 4.000 08/10/2022 CHF 54.260
Skandinaviska E 8.300 7/17/2023 SEK 57.280
UniCredit Bank 3.700 6/25/2022 EUR 41.820
Landesbank Bade 2.500 8/25/2023 EUR 48.940
Landesbank Bade 2.750 9/23/2022 EUR 48.140
TKK OOO 10.012 12/31/2033 RUB 60.100
UniCredit Bank 3.000 11/12/2022 EUR 51.640
TKK OOO 10.908 12/31/2033 RUB 60.100
Landesbank Bade 3.250 2/24/2023 EUR 57.680
Raiffeisen Cent 10.000 3/24/2023 EUR 48.160
Bank Vontobel A 9.008 8/19/2022 CHF 57.200
Bank Vontobel A 10.508 8/19/2022 CHF 43.900
Bank Vontobel A 10.507 8/19/2022 CHF 43.900
Leonteq Securit 15.000 8/19/2022 CHF 40.310
Leonteq Securit 12.400 8/19/2022 EUR 53.320
Leonteq Securit 9.000 08/11/2022 CHF 55.990
Leonteq Securit 15.740 08/10/2022 USD 19.110
Leonteq Securit 8.000 08/12/2022 CHF 56.940
Leonteq Securit 10.000 08/12/2022 CHF 41.430
Raiffeisen Swit 7.200 2/15/2023 CHF 58.150
DekaBank Deutsc 2.900 3/17/2023 EUR 68.500
Zurcher Kantona 7.000 10/06/2022 USD 73.630
Zurcher Kantona 8.750 07/01/2022 CHF 65.550
Societe General 6.000 7/22/2022 EUR 68.300
Societe General 6.750 7/22/2022 EUR 66.860
Societe General 7.750 7/22/2022 EUR 65.040
Societe General 12.000 7/22/2022 EUR 39.560
Societe General 14.000 7/22/2022 EUR 37.070
Societe General 6.500 7/22/2022 EUR 69.080
Societe General 10.500 7/22/2022 EUR 60.560
Societe General 4.750 7/22/2022 EUR 71.510
Societe General 7.000 7/22/2022 EUR 71.600
Societe General 10.000 7/22/2022 EUR 65.690
Societe General 11.000 7/22/2022 EUR 64.020
Societe General 7.250 7/22/2022 EUR 68.350
Societe General 8.250 7/22/2022 EUR 66.560
Societe General 9.250 7/22/2022 EUR 65.060
Societe General 4.250 7/22/2022 EUR 69.460
Societe General 5.250 7/22/2022 EUR 66.090
Societe General 8.000 7/22/2022 EUR 71.420
Societe General 6.000 7/22/2022 EUR 52.590
Societe General 10.000 7/22/2022 EUR 42.620
Societe General 11.000 7/22/2022 EUR 59.790
Societe General 7.250 7/22/2022 EUR 61.150
Bank Julius Bae 11.000 6/27/2022 CHF 22.350
UniCredit Bank 4.650 09/11/2023 EUR 63.180
Leonteq Securit 6.000 8/17/2022 CHF 67.650
EFG Internation 4.900 11/10/2023 USD 58.560
UBS AG/London 10.500 11/11/2022 CHF 58.450
UniCredit Bank 5.250 12/01/2023 EUR 35.130
Epito-Es Epulet 3.000 11/11/2030 HUF 65.500
Sberbank of Rus 0.010 10/28/2024 RUB 89.010
Sberbank of Rus 0.010 11/05/2025 RUB 73.600
Bank Vontobel A 6.006 11/14/2022 EUR 68.800
Sberbank of Rus 0.010 10/31/2025 RUB 75.500
Sberbank of Rus 0.010 11/20/2025 RUB 71.020
Sberbank of Rus 0.010 11/24/2025 RUB 78.910
Mostotrest PJSC 0.010 7/29/2026 RUB 56.950
Sberbank of Rus 0.010 11/12/2025 RUB 74.200
EFG Internation 7.500 5/19/2023 CHF 65.080
UBS AG/London 12.250 11/18/2022 EUR 31.500
Landesbank Bade 2.200 1/27/2023 EUR 24.450
DekaBank Deutsc 3.250 08/11/2023 EUR 47.950
DekaBank Deutsc 3.100 7/22/2022 EUR 46.700
DekaBank Deutsc 3.250 7/22/2022 EUR 78.580
DekaBank Deutsc 3.400 7/22/2022 EUR 63.310
DekaBank Deutsc 2.800 10/20/2023 EUR 32.000
Nordea Bank Abp 4.100 7/20/2023 SEK 50.500
UniCredit Bank 3.100 5/28/2023 EUR 61.460
Deutsche Bank A 2.200 4/14/2023 EUR 74.020
Landesbank Bade 2.400 7/22/2022 EUR 60.870
Leonteq Securit 11.000 08/05/2022 CHF 50.290
UniCredit Bank 5.750 2/26/2024 EUR 47.870
EFG Internation 6.500 02/09/2024 USD 76.330
Bank Vontobel A 8.002 08/05/2022 EUR 39.600
SG Issuer SA 8.300 7/21/2025 SEK 39.610
Leonteq Securit 5.400 7/25/2022 CHF 49.830
Landesbank Bade 2.500 8/25/2023 EUR 52.790
UniCredit Bank 3.350 9/14/2022 EUR 56.540
UniCredit Bank 4.550 9/28/2023 EUR 58.750
UniCredit Bank 3.750 9/14/2022 EUR 44.540
AKB Peresvet ZA 0.510 2/14/2032 RUB 13.000
UniCredit Bank 4.200 9/21/2022 EUR 37.920
Landesbank Bade 2.650 9/22/2023 EUR 54.910
SG Issuer SA 1.500 10/19/2033 EUR 77.870
Landesbank Bade 2.200 12/23/2022 EUR 63.800
Landesbank Bade 3.000 12/23/2022 EUR 50.260
Vasutvillamosit 3.000 02/03/2031 HUF 65.000
Raiffeisen Swit 7.500 02/08/2023 CHF 53.690
Raiffeisen Swit 11.000 08/05/2022 EUR 54.980
UBS AG/London 13.000 05/06/2024 USD 35.460
EFG Internation 13.000 11/07/2022 CHF 62.340
Leonteq Securit 6.700 11/04/2022 USD 46.950
Credit Suisse A 8.000 08/05/2022 EUR 62.140
Credit Suisse A 8.000 11/07/2022 USD 70.060
UBS AG/London 9.500 11/07/2022 CHF 60.800
UBS AG/London 12.750 11/07/2022 USD 39.600
UBS AG/London 12.750 11/07/2022 CHF 60.300
UBS AG/London 10.500 11/07/2022 CHF 53.800
UBS AG/London 10.250 11/07/2022 CHF 53.800
UBS AG/London 11.000 05/05/2023 CHF 59.150
UBS AG/London 12.750 11/07/2022 CHF 69.800
UBS AG/London 5.250 05/05/2023 CHF 63.100
UBS AG/London 14.500 11/07/2022 CHF 27.280
UBS AG/London 19.250 11/07/2022 CHF 65.800
Sberbank of Rus 0.010 05/07/2026 RUB 74.400
Luzerner Kanton 6.000 05/10/2023 CHF 57.450
Sberbank of Rus 0.010 05/10/2028 RUB 62.400
Bank Julius Bae 9.000 11/07/2022 USD 52.200
Vontobel Financ 7.450 05/09/2023 EUR 69.410
Leonteq Securit 11.000 11/07/2022 CHF 72.480
Bank Julius Bae 8.650 08/05/2022 USD 66.450
EFG Internation 5.000 05/11/2023 EUR 79.780
DekaBank Deutsc 5.100 06/04/2024 EUR 65.930
Leonteq Securit 11.200 11/07/2022 CHF 74.760
Leonteq Securit 7.000 11/07/2022 CHF 64.340
Leonteq Securit 14.000 08/10/2022 CHF 63.260
Leonteq Securit 10.000 11/07/2022 CHF 57.130
Leonteq Securit 10.000 08/10/2022 CHF 68.860
Leonteq Securit 8.000 11/07/2022 CHF 61.570
Leonteq Securit 11.000 08/10/2022 CHF 41.630
Zurcher Kantona 8.500 11/10/2022 EUR 60.040
Zurcher Kantona 8.500 11/10/2022 CHF 59.820
Bank Julius Bae 6.550 05/10/2023 CHF 65.250
Zurcher Kantona 7.000 08/10/2022 USD 48.780
DZ Bank AG Deut 4.800 9/19/2022 EUR 70.060
DZ Bank AG Deut 5.400 9/19/2022 EUR 68.810
Corner Banca SA 16.000 08/10/2022 EUR 42.350
Zurcher Kantona 10.000 5/19/2023 CHF 60.190
Zurcher Kantona 9.100 05/11/2023 CHF 59.190
UniCredit Bank 6.500 9/15/2022 EUR 20.290
Zurcher Kantona 7.000 11/11/2022 CHF 60.660
UniCredit Bank 7.300 6/14/2024 EUR 50.720
UniCredit Bank 5.300 6/14/2024 EUR 68.180
Bank Vontobel A 6.508 05/08/2023 CHF 77.700
Bank Vontobel A 15.010 08/08/2022 USD 21.600
Bank Vontobel A 14.257 08/08/2022 CHF 21.700
DZ Bank AG Deut 15.200 9/23/2022 EUR 68.920
DZ Bank AG Deut 8.900 9/23/2022 EUR 69.290
DZ Bank AG Deut 6.700 9/23/2022 EUR 71.660
DZ Bank AG Deut 8.600 9/23/2022 EUR 67.980
DZ Bank AG Deut 10.800 9/23/2022 EUR 64.830
DZ Bank AG Deut 5.500 9/23/2022 EUR 70.320
DZ Bank AG Deut 7.100 9/23/2022 EUR 66.070
DZ Bank AG Deut 9.100 9/23/2022 EUR 62.480
DZ Bank AG Deut 11.200 9/23/2022 EUR 59.380
DZ Bank AG Deut 5.600 9/23/2022 EUR 67.770
DZ Bank AG Deut 10.500 9/23/2022 EUR 70.730
DZ Bank AG Deut 5.000 9/23/2022 EUR 76.350
DZ Bank AG Deut 6.500 9/23/2022 EUR 72.930
DZ Bank AG Deut 10.200 9/23/2022 EUR 67.270
DZ Bank AG Deut 7.100 9/23/2022 EUR 71.130
DZ Bank AG Deut 9.500 9/23/2022 EUR 65.430
DZ Bank AG Deut 6.000 9/23/2022 EUR 66.490
DZ Bank AG Deut 8.300 9/23/2022 EUR 62.340
DZ Bank AG Deut 10.800 9/23/2022 EUR 58.980
DZ Bank AG Deut 6.800 9/23/2022 EUR 72.830
DZ Bank AG Deut 7.800 9/23/2022 EUR 70.220
DZ Bank AG Deut 9.000 9/23/2022 EUR 67.870
DZ Bank AG Deut 11.400 9/23/2022 EUR 63.720
DZ Bank AG Deut 13.300 9/23/2022 EUR 64.110
DZ Bank AG Deut 19.000 9/23/2022 EUR 36.720
DZ Bank AG Deut 8.700 9/23/2022 EUR 71.660
DZ Bank AG Deut 11.700 9/23/2022 EUR 66.070
DZ Bank AG Deut 4.500 9/23/2022 EUR 71.090
DZ Bank AG Deut 12.200 9/23/2022 EUR 60.820
DZ Bank AG Deut 13.000 9/23/2022 EUR 71.620
DZ Bank AG Deut 5.000 9/19/2022 EUR 64.610
DZ Bank AG Deut 6.250 9/19/2022 EUR 73.210
DZ Bank AG Deut 6.500 9/19/2022 EUR 75.840
EFG Internation 15.000 11/14/2022 EUR 67.490
Credit Suisse A 8.000 08/12/2022 CHF 74.360
UBS AG/London 14.750 11/14/2022 CHF 31.900
UBS AG/London 10.500 11/14/2022 CHF 30.350
UBS AG/London 11.250 11/14/2022 CHF 49.500
UBS AG/London 6.500 11/14/2022 CHF 61.050
UBS AG/London 5.500 05/12/2023 EUR 74.350
UBS AG/London 6.000 11/14/2022 EUR 73.950
UBS AG/London 11.750 11/14/2022 CHF 31.150
Corner Banca SA 15.000 11/21/2022 USD 33.890
Leonteq Securit 10.000 11/21/2022 CHF 61.000
Leonteq Securit 13.000 11/21/2022 USD 41.570
Leonteq Securit 9.000 11/21/2022 CHF 34.800
UniCredit Bank 4.350 6/14/2024 EUR 76.220
Vontobel Financ 4.550 11/14/2022 EUR 71.230
Leonteq Securit 1.650 1/25/2023 EUR 69.040
Leonteq Securit 7.450 1/25/2023 EUR 41.690
Luzerner Kanton 8.000 08/04/2022 CHF 69.710
EFG Internation 4.750 1/29/2024 USD 48.330
UniCredit Bank 3.450 04/02/2024 EUR 63.130
Credit Suisse A 6.000 08/08/2022 CHF 68.210
Bayerische Land 1.550 2/23/2024 EUR 69.670
Sberbank of Rus 0.010 02/06/2023 RUB 90.000
Sberbank of Rus 0.010 8/25/2025 RUB 50.000
Landesbank Hess 1.000 10/01/2035 EUR 74.150
Leonteq Securit 0.010 10/16/2023 EUR 68.050
UBS AG/London 14.500 10/17/2022 USD 28.200
EFG Internation 4.900 10/16/2023 USD 56.660
EFG Internation 4.900 10/20/2023 USD 53.520
Sberbank of Rus 0.010 10/23/2025 RUB 73.200
Zurcher Kantona 6.300 12/16/2022 CHF 39.120
Leonteq Securit 7.600 1/23/2023 CHF 47.880
Danske Bank A/S 6.860 07/09/2022 SEK 25.870
DekaBank Deutsc 2.000 02/10/2023 EUR 67.140
Raiffeisen Schw 6.900 7/27/2022 CHF 70.860
Leonteq Securit 7.400 1/24/2023 CHF 74.330
Corner Banca SA 5.250 1/24/2023 CHF 72.200
Sberbank of Rus 0.010 1/27/2025 RUB 70.000
DekaBank Deutsc 3.500 2/24/2023 EUR 62.520
Leonteq Securit 4.750 7/28/2022 CHF 73.650
Leonteq Securit 7.000 7/28/2022 USD 74.240
EFG Internation 11.800 02/04/2025 USD 76.620
Credit Suisse A 6.200 7/29/2022 CHF 67.740
Bank Julius Bae 8.350 1/30/2023 CHF 62.350
UniCredit Bank 7.600 2/19/2024 EUR 73.240
Raiffeisen Schw 7.200 1/31/2023 CHF 72.270
Leonteq Securit 6.400 1/31/2023 CHF 70.750
Raiffeisen Schw 6.900 08/03/2022 CHF 68.960
Sberbank of Rus 1.351 08/03/2023 RUB 80.000
Skandinaviska E 5.800 1/15/2025 SEK 50.810
Skandinaviska E 6.000 1/15/2025 SEK 41.950
Societe General 10.000 03/02/2023 USD 71.400
EFG Internation 7.000 08/10/2023 CHF 71.770
EFG Internation 4.900 9/21/2023 USD 58.460
VTB Bank PJSC 0.010 9/22/2023 RUB 70.630
Sberbank of Rus 0.010 9/22/2025 RUB 74.250
SFO VTB Investm 0.010 11/13/2023 RUB 72.810
Leonteq Securit 5.400 10/03/2022 CHF 74.760
Sberbank of Rus 0.010 10/04/2024 RUB 73.030
Raiffeisen Schw 5.400 10/04/2022 CHF 74.600
Raiffeisen Schw 6.000 10/04/2022 CHF 74.840
Nordea Bank Abp 5.813 7/20/2024 SEK 46.600
Nordea Bank Abp 7.450 7/20/2024 SEK 45.280
DekaBank Deutsc 3.200 11/04/2022 EUR 63.590
UBS AG/London 6.750 10/10/2022 CHF 74.150
EFG Internation 10.060 10/14/2022 USD 68.510
Landesbank Bade 3.600 6/23/2023 EUR 50.400
UniCredit Bank 4.150 05/08/2023 EUR 60.040
UniCredit Bank 4.900 5/22/2023 EUR 61.690
TKK OOO 8.200 9/23/2033 RUB 60.100
TKK OOO 8.700 9/20/2046 RUB 60.100
UniCredit Bank 4.250 6/28/2022 EUR 39.640
Landesbank Hess 1.500 12/16/2036 EUR 75.000
Vontobel Financ 12.250 6/28/2022 EUR 65.030
UniCredit Bank 3.850 6/28/2022 EUR 48.730
UniCredit Bank 3.600 6/28/2022 EUR 73.650
UniCredit Bank 3.800 6/28/2022 EUR 38.390
Bank Julius Bae 13.000 11/30/2022 EUR 61.700
UBS AG/London 7.500 08/10/2022 CHF 70.000
UBS AG/London 7.750 08/10/2022 CHF 18.100
UBS AG/London 5.250 08/10/2022 CHF 53.000
UBS AG/London 9.750 02/10/2023 USD 75.250
UBS AG/London 13.750 08/10/2022 CHF 68.950
UBS AG/London 14.250 08/10/2022 USD 28.240
EFG Internation 4.500 02/12/2024 USD 46.140
Skandinaviska E 9.020 7/17/2023 SEK 54.810
SG Issuer SA 4.000 6/22/2026 EUR 65.000
Landesbank Bade 3.000 9/23/2022 EUR 51.890
UniCredit Bank 4.200 7/26/2022 EUR 17.480
UniCredit Bank 4.450 7/23/2022 EUR 49.250
UniCredit Bank 4.150 7/26/2022 EUR 39.540
UniCredit Bank 3.650 7/23/2022 EUR 40.660
Skandinaviska E 10.360 7/17/2023 SEK 65.070
Landesbank Bade 2.500 8/25/2023 EUR 51.830
UniCredit Bank 3.000 08/03/2023 EUR 67.840
UniCredit Bank 5.350 2/27/2023 EUR 43.030
Landesbank Bade 2.700 10/28/2022 EUR 47.170
UniCredit Bank 4.400 12/10/2022 EUR 68.970
Landesbank Bade 1.500 4/16/2039 EUR 74.020
Citigroup Globa 8.200 3/21/2024 SEK 64.480
Leonteq Securit 10.000 11/14/2022 CHF 64.310
Leonteq Securit 13.000 11/17/2022 USD 43.490
Corner Banca SA 11.000 11/17/2022 EUR 62.470
Leonteq Securit 9.000 11/17/2022 CHF 55.260
Leonteq Securit 8.000 5/17/2023 CHF 62.340
Leonteq Securit 10.000 11/14/2022 EUR 64.820
Corner Banca SA 11.000 11/17/2022 USD 62.450
Leonteq Securit 10.000 8/17/2022 CHF 27.410
Bank Vontobel A 11.008 11/14/2022 CHF 53.800
Leonteq Securit 10.000 11/17/2022 USD 66.420
Leonteq Securit 8.500 11/14/2022 EUR 66.730
Leonteq Securit 8.500 11/17/2022 CHF 66.210
Raiffeisen Schw 12.000 8/17/2022 CHF 53.290
Raiffeisen Schw 5.500 5/17/2023 CHF 78.640
Raiffeisen Schw 6.500 11/17/2023 CHF 61.790
Bank Vontobel A 14.505 11/14/2022 EUR 56.300
Bank Vontobel A 14.505 11/14/2022 EUR 56.300
Goldman Sachs & 8.000 12/21/2022 EUR 69.180
DZ Bank AG Deut 8.500 9/21/2022 EUR 68.110
DZ Bank AG Deut 6.250 9/21/2022 EUR 61.240
DZ Bank AG Deut 5.000 9/21/2022 EUR 62.500
DZ Bank AG Deut 5.750 9/21/2022 EUR 72.990
DZ Bank AG Deut 5.250 9/21/2022 EUR 71.710
DZ Bank AG Deut 7.000 9/21/2022 EUR 66.820
Corner Banca SA 6.500 11/21/2022 CHF 34.610
Corner Banca SA 7.600 11/18/2022 USD 34.600
UBS AG/London 7.250 11/21/2022 CHF 65.150
UBS AG/London 10.250 11/21/2022 CHF 30.150
UBS AG/London 5.250 5/19/2023 CHF 68.000
UBS AG/London 19.250 11/21/2022 CHF 75.500
UBS AG/London 8.000 5/18/2023 EUR 75.200
UBS AG/London 8.250 11/21/2022 CHF 49.750
Bank Vontobel A 7.004 11/14/2022 CHF 51.900
Bank Vontobel A 9.256 11/14/2022 CHF 61.600
Bank Vontobel A 9.003 11/14/2022 CHF 46.700
Bank Vontobel A 5.755 5/15/2023 CHF 60.300
Bank Vontobel A 12.004 8/15/2022 CHF 51.100
EFG Internation 13.000 11/14/2022 CHF 33.490
Raiffeisen Cent 6.500 06/09/2023 EUR 50.540
Leonteq Securit 12.500 8/25/2022 CHF 53.910
Leonteq Securit 10.000 11/21/2022 EUR 66.300
EFG Internation 8.000 11/21/2022 CHF 65.750
Raiffeisen Swit 3.600 11/20/2023 CHF 72.000
EFG Internation 17.000 11/21/2022 EUR 57.070
Leonteq Securit 5.050 06/02/2023 EUR 50.460
EFG Internation 14.000 11/21/2022 CHF 22.620
Leonteq Securit 14.200 09/01/2022 CHF 27.730
Banque Cantonal 8.900 11/18/2022 CHF 74.250
Leonteq Securit 17.000 8/25/2022 CHF 52.260
Leonteq Securit 10.000 5/25/2023 EUR 64.890
Credit Suisse A 12.500 8/22/2022 CHF 47.210
Raiffeisen Swit 10.500 07/11/2024 USD 14.160
Landesbank Bade 3.000 8/26/2022 EUR 53.550
UBS AG/London 8.750 2/17/2023 CHF 74.350
Bank Vontobel A 10.506 8/19/2022 EUR 63.700
Bank Vontobel A 6.505 2/20/2023 EUR 56.000
Bank Vontobel A 7.756 8/19/2022 CHF 46.200
Bank Vontobel A 12.008 8/19/2022 CHF 27.200
Leonteq Securit 5.700 8/19/2022 USD 40.780
UniCredit Bank 4.350 7/31/2023 EUR 57.840
Leonteq Securit 8.310 7/19/2022 EUR 46.860
Citigroup Globa 5.000 08/01/2033 EUR 68.110
DekaBank Deutsc 2.400 5/17/2024 EUR 40.200
UBS AG/London 7.800 4/20/2026 EUR 57.910
Leonteq Securit 10.000 7/20/2022 CHF 30.650
Raiffeisen Cent 4.966 5/17/2023 EUR 62.350
Raiffeisen Cent 6.456 5/17/2023 EUR 71.770
DekaBank Deutsc 2.000 5/19/2023 EUR 71.100
Bank Vontobel A 7.501 10/16/2023 CHF 58.000
UniCredit Bank 4.300 8/15/2022 EUR 38.250
UBS AG/London 8.250 10/21/2022 CHF 56.900
UBS AG/London 7.000 4/21/2023 USD 52.050
UBS AG/London 9.000 10/21/2022 CHF 30.900
UBS AG/London 23.750 10/21/2022 USD 66.650
UBS AG/London 10.500 4/21/2023 CHF 30.100
EFG Internation 5.700 4/26/2023 USD 41.020
Bank Julius Bae 9.300 7/22/2022 USD 37.850
Leonteq Securit 8.000 4/26/2023 CHF 69.090
UniCredit Bank 1.550 7/18/2031 EUR 71.420
Raiffeisen Swit 12.000 7/19/2022 CHF 58.960
Raiffeisen Swit 12.000 7/19/2022 EUR 61.400
VTB Bank PJSC 0.010 05/01/2025 RUB 65.570
UniCredit Bank 4.900 5/14/2024 USD 75.010
Sberbank of Rus 0.010 4/22/2026 RUB 76.800
Sberbank of Rus 0.010 4/23/2026 RUB 70.600
Leonteq Securit 18.000 7/26/2022 CHF 66.300
Landesbank Bade 3.260 4/28/2023 EUR 76.430
Landesbank Bade 3.060 4/26/2024 EUR 75.600
Leonteq Securit 9.000 10/26/2022 EUR 61.170
Zurcher Kantona 8.500 10/26/2022 USD 74.470
Raiffeisen Cent 5.750 5/19/2023 EUR 48.540
Nordea Bank Abp 3.200 7/20/2026 SEK 70.870
EFG Internation 5.000 4/26/2023 USD 57.700
Raiffeisen Swit 6.750 10/26/2022 CHF 55.070
Raiffeisen Swit 12.000 10/26/2022 CHF 37.900
Raiffeisen Swit 8.000 10/26/2022 EUR 60.460
Landesbank Bade 2.650 1/27/2023 EUR 45.690
Societe General 7.000 8/26/2022 EUR 67.640
Societe General 8.000 8/26/2022 EUR 65.820
Societe General 7.750 8/26/2022 EUR 65.350
Societe General 10.000 8/26/2022 EUR 67.620
Societe General 11.250 7/22/2022 EUR 67.510
Societe General 5.750 8/26/2022 EUR 69.240
Societe General 4.500 8/26/2022 EUR 72.130
Societe General 6.500 8/26/2022 EUR 67.220
Societe General 7.500 8/26/2022 EUR 65.420
DZ Bank AG Deut 5.600 9/19/2022 EUR 62.920
DZ Bank AG Deut 5.000 9/19/2022 EUR 66.990
Leonteq Securit 20.000 7/26/2022 CHF 59.450
Leonteq Securit 10.000 10/26/2022 CHF 29.210
Leonteq Securit 12.000 1/26/2023 CHF 31.400
Leonteq Securit 8.000 1/26/2023 CHF 70.840
DZ Bank AG Deut 6.750 9/19/2022 EUR 73.890
Leonteq Securit 9.000 7/26/2023 USD 69.950
Zurcher Kantona 7.500 08/04/2022 CHF 71.860
Raiffeisen Schw 12.500 7/26/2022 CHF 27.840
Raiffeisen Schw 5.400 1/23/2023 CHF 79.440
Raiffeisen Schw 14.000 7/26/2022 CHF 52.400
Raiffeisen Schw 8.000 1/23/2023 CHF 59.720
Bank Julius Bae 8.250 7/27/2022 CHF 55.500
Bank Julius Bae 7.600 10/27/2022 CHF 64.000
Vontobel Financ 10.450 8/29/2022 EUR 40.030
Vontobel Financ 9.300 8/29/2022 EUR 75.370
DekaBank Deutsc 2.800 09/01/2023 EUR 43.430
DVM Constructio 3.000 7/29/2030 HUF 60.400
Landesbank Bade 3.100 8/26/2022 EUR 55.730
Landesbank Bade 4.100 8/26/2022 EUR 74.660
Landesbank Bade 3.500 8/26/2022 EUR 24.990
Landesbank Bade 5.450 8/26/2022 EUR 21.440
Landesbank Bade 3.100 8/26/2022 EUR 69.960
Landesbank Bade 3.250 8/26/2022 EUR 73.210
Sberbank of Rus 0.010 08/07/2025 RUB 78.100
SFO VTB Investm 0.010 03/10/2023 RUB 71.000
Bank Otkritie F 0.010 7/28/2023 RUB 83.010
Landesbank Bade 3.000 10/25/2024 EUR 30.190
Leonteq Securit 8.690 7/26/2023 CHF 62.860
Vontobel Financ 3.500 9/23/2022 EUR 52.120
Leonteq Securit 28.020 7/22/2022 CHF 55.120
Leonteq Securit 13.000 7/22/2022 CHF 50.880
UBS AG/London 12.000 1/16/2023 CHF 30.050
Raiffeisen Schw 16.000 7/19/2022 EUR 63.670
Raiffeisen Schw 12.000 10/19/2022 CHF 68.210
Raiffeisen Schw 11.000 7/19/2022 CHF 55.120
Raiffeisen Schw 8.000 7/19/2023 CHF 58.660
Raiffeisen Schw 6.000 7/19/2023 CHF 75.690
Sberbank of Rus 0.010 7/23/2026 RUB 70.200
Societe General 4.000 8/26/2022 EUR 65.440
Societe General 5.000 8/26/2022 EUR 62.330
Societe General 7.000 8/26/2022 EUR 57.770
Societe General 8.000 8/26/2022 EUR 56.000
Societe General 8.500 8/26/2022 EUR 65.010
Societe General 13.500 8/26/2022 EUR 33.910
Societe General 8.000 8/26/2022 EUR 75.520
Raiffeisen Cent 6.381 9/21/2022 EUR 66.420
Raiffeisen Cent 7.232 9/21/2022 EUR 66.190
Raiffeisen Cent 11.061 9/21/2022 EUR 70.050
Societe General 10.500 8/26/2022 EUR 69.610
Societe General 11.500 8/26/2022 EUR 67.970
Raiffeisen Cent 0.851 9/21/2022 EUR 57.510
Raiffeisen Cent 5.530 9/21/2022 EUR 60.540
Societe General 12.000 7/22/2022 EUR 65.140
Societe General 3.000 8/26/2022 EUR 69.700
Societe General 6.750 8/26/2022 EUR 70.820
Societe General 10.750 8/26/2022 EUR 61.300
Societe General 5.500 8/26/2022 EUR 47.310
Societe General 7.500 8/26/2022 EUR 42.010
Societe General 9.500 8/26/2022 EUR 38.460
Societe General 11.500 8/26/2022 EUR 35.900
DekaBank Deutsc 3.190 2/17/2023 EUR 69.290
Leonteq Securit 10.000 7/26/2022 CHF 59.510
Leonteq Securit 7.000 7/26/2023 CHF 70.210
Leonteq Securit 10.000 10/26/2022 CHF 50.340
Vontobel Financ 7.500 9/23/2022 EUR 63.470
Vontobel Financ 5.500 9/23/2022 EUR 68.860
Zurcher Kantona 10.000 08/03/2022 CHF 77.530
Zurcher Kantona 10.000 08/03/2022 CHF 57.030
Zurcher Kantona 12.500 08/03/2022 CHF 49.860
Vontobel Financ 11.200 7/26/2022 EUR 44.710
Zurcher Kantona 28.500 08/02/2022 USD 44.310
Zurcher Kantona 27.500 08/02/2022 CHF 57.750
Bank Julius Bae 10.000 7/26/2022 USD 56.600
Bank Vontobel A 5.500 1/22/2024 CHF 73.700
Bank Vontobel A 4.500 7/21/2023 CHF 71.200
Bank Vontobel A 9.500 1/23/2023 CHF 61.600
Bank Vontobel A 6.500 1/24/2023 CHF 56.700
Bank Vontobel A 12.500 1/24/2023 CHF 51.800
Bank Vontobel A 12.500 1/24/2023 CHF 52.100
BNP Paribas Emi 6.900 8/25/2022 EUR 70.690
Societe General 6.500 8/26/2022 EUR 68.680
Societe General 7.500 8/26/2022 EUR 66.730
Societe General 8.750 8/26/2022 EUR 63.820
Societe General 8.000 8/26/2022 EUR 71.410
Societe General 9.500 8/26/2022 EUR 65.740
Societe General 4.750 8/26/2022 EUR 71.710
Societe General 6.750 8/26/2022 EUR 67.090
Societe General 3.500 8/26/2022 EUR 75.760
Societe General 5.500 8/26/2022 EUR 69.440
Societe General 8.500 8/26/2022 EUR 63.880
DZ Bank AG Deut 4.800 9/19/2022 EUR 64.180
DZ Bank AG Deut 5.700 9/19/2022 EUR 65.740
DZ Bank AG Deut 6.500 9/19/2022 EUR 64.520
Corner Banca SA 8.200 7/26/2023 CHF 58.390
Corner Banca SA 10.000 1/23/2023 CHF 69.040
DZ Bank AG Deut 4.750 9/19/2022 EUR 70.750
DZ Bank AG Deut 8.250 9/19/2022 EUR 58.530
DZ Bank AG Deut 7.000 9/19/2022 EUR 60.180
Zurcher Kantona 11.000 08/03/2022 CHF 56.480
Raiffeisen Schw 10.000 7/26/2022 CHF 50.800
Raiffeisen Schw 13.500 7/26/2022 CHF 61.840
Raiffeisen Schw 9.500 1/26/2023 CHF 59.770
Raiffeisen Schw 8.500 1/23/2023 CHF 67.620
Raiffeisen Schw 9.000 1/23/2023 CHF 76.900
Raiffeisen Schw 7.000 1/23/2023 CHF 71.580
Bank Julius Bae 6.400 10/27/2022 CHF 68.800
Zurcher Kantona 21.500 08/03/2022 CHF 72.450
Societe General 10.500 7/22/2022 EUR 72.370
Leonteq Securit 21.420 7/27/2022 CHF 25.130
Sberbank of Rus 0.010 7/24/2025 RUB 76.800
Sberbank of Rus 0.010 7/23/2025 RUB 69.600
Landesbank Bade 3.250 3/24/2023 EUR 74.120
Landesbank Bade 4.300 3/24/2023 EUR 69.740
Landesbank Bade 4.050 3/24/2023 EUR 30.980
Landesbank Bade 7.250 3/24/2023 EUR 74.340
Landesbank Bade 3.700 3/24/2023 EUR 73.950
Vontobel Financ 16.450 03/03/2023 EUR 42.860
Raiffeisen Cent 10.192 9/21/2022 EUR 54.200
Raiffeisen Cent 7.644 9/21/2022 EUR 57.860
Raiffeisen Cent 8.918 9/21/2022 EUR 55.680
Vontobel Financ 5.000 3/26/2024 EUR 71.400
UBS AG/London 9.750 09/05/2022 CHF 54.850
UBS AG/London 10.000 03/03/2023 CHF 58.550
UBS AG/London 11.250 03/03/2023 CHF 58.950
UBS AG/London 15.000 09/05/2022 CHF 61.100
EFG Internation 6.400 03/08/2023 USD 59.090
Nordea Bank Abp 7.100 7/20/2024 SEK 48.840
Nordea Bank Abp 9.000 7/20/2024 SEK 41.700
Vontobel Financ 10.000 9/23/2022 EUR 65.940
Vontobel Financ 12.500 9/23/2022 EUR 63.240
Vontobel Financ 6.000 9/23/2022 EUR 59.440
Vontobel Financ 11.000 9/23/2022 EUR 53.660
Vontobel Financ 13.500 9/23/2022 EUR 63.310
Vontobel Financ 11.000 9/23/2022 EUR 67.340
Vontobel Financ 13.000 9/23/2022 EUR 67.630
Vontobel Financ 10.000 9/23/2022 EUR 72.330
Vontobel Financ 12.000 9/23/2022 EUR 69.110
Vontobel Financ 14.000 9/23/2022 EUR 66.220
Vontobel Financ 9.500 9/23/2022 EUR 64.260
Vontobel Financ 12.500 9/23/2022 EUR 60.190
Vontobel Financ 11.000 9/23/2022 EUR 72.420
Vontobel Financ 12.500 9/23/2022 EUR 20.910
Vontobel Financ 11.500 9/23/2022 EUR 21.400
Vontobel Financ 8.500 9/23/2022 EUR 53.300
UBS AG/London 8.000 1/16/2023 CHF 75.100
Sberbank of Rus 0.010 7/24/2028 RUB 58.600
Societe General 6.000 8/26/2022 EUR 59.820
Societe General 9.000 8/26/2022 EUR 64.360
Societe General 7.000 8/26/2022 EUR 77.450
Raiffeisen Cent 8.508 9/21/2022 EUR 66.510
Raiffeisen Cent 8.508 9/21/2022 EUR 70.410
Raiffeisen Cent 14.038 9/21/2022 EUR 70.540
Societe General 9.500 8/26/2022 EUR 71.340
Raiffeisen Cent 0.851 9/21/2022 EUR 58.690
Raiffeisen Cent 1.702 9/21/2022 EUR 62.400
Societe General 8.750 8/26/2022 EUR 65.300
Societe General 12.750 8/26/2022 EUR 58.180
Societe General 10.500 8/26/2022 EUR 66.170
Societe General 3.500 8/26/2022 EUR 56.450
Leonteq Securit 11.000 1/26/2023 USD 58.710
Leonteq Securit 8.400 1/26/2023 CHF 61.720
Vontobel Financ 10.500 9/23/2022 EUR 58.560
Vontobel Financ 5.000 9/23/2022 EUR 69.480
Vontobel Financ 4.000 9/23/2022 EUR 61.980
Zurcher Kantona 12.500 08/03/2022 CHF 70.570
Vontobel Financ 7.000 9/23/2022 EUR 62.540
Vontobel Financ 8.000 9/23/2022 EUR 53.260
Societe General 3.000 7/22/2022 USD 9.140
Erste Group Ban 5.550 8/30/2022 EUR 60.050
UniCredit Bank 5.550 7/19/2022 EUR 57.000
Landesbank Bade 2.500 3/22/2024 EUR 75.110
Bank Julius Bae 5.700 10/24/2022 EUR 69.200
Bank Julius Bae 7.300 10/24/2022 USD 64.900
Bank Julius Bae 7.400 7/22/2022 USD 73.200
Vontobel Financ 10.000 9/23/2022 EUR 71.440
Vontobel Financ 7.000 9/23/2022 EUR 57.770
Vontobel Financ 9.500 9/23/2022 EUR 54.890
Vontobel Financ 8.000 9/23/2022 EUR 72.000
Vontobel Financ 7.500 9/23/2022 EUR 77.910
Vontobel Financ 8.500 9/23/2022 EUR 76.010
Vontobel Financ 9.000 9/23/2022 EUR 74.070
Vontobel Financ 11.000 9/23/2022 EUR 70.680
Vontobel Financ 6.500 9/23/2022 EUR 69.150
Vontobel Financ 10.000 9/23/2022 EUR 21.830
Vontobel Financ 14.000 9/23/2022 EUR 20.600
Vontobel Financ 15.000 9/23/2022 EUR 20.210
Raiffeisen Swit 7.000 05/03/2023 CHF 56.310
Landesbank Hess 1.800 06/09/2036 EUR 73.050
Nordea Bank Abp 6.450 1/22/2024 SEK 71.750
Bank Vontobel A 9.006 10/31/2022 CHF 22.400
Leonteq Securit 9.000 12/21/2022 CHF 44.010
Leonteq Securit 12.000 7/26/2022 EUR 59.240
Leonteq Securit 10.000 10/26/2022 USD 24.060
Leonteq Securit 7.000 4/26/2023 CHF 60.790
Leonteq Securit 8.000 7/26/2022 CHF 58.940
Raiffeisen Swit 7.200 4/26/2023 CHF 74.840
Raiffeisen Swit 10.500 10/26/2022 CHF 55.960
EFG Internation 10.000 12/16/2022 CHF 27.880
UBS AG/London 11.250 12/16/2022 USD 58.950
UBS AG/London 8.250 6/16/2023 CHF 59.750
VTB Bank PJSC 0.010 06/01/2024 RUB 79.660
Goldman Sachs & 7.000 7/20/2022 EUR 61.370
Goldman Sachs & 12.000 7/20/2022 EUR 61.680
Goldman Sachs & 10.000 7/20/2022 EUR 64.750
Goldman Sachs & 5.000 6/21/2023 EUR 72.120
Goldman Sachs & 8.000 6/21/2023 EUR 69.250
Goldman Sachs & 5.000 6/21/2023 EUR 74.150
Goldman Sachs & 6.000 6/21/2023 EUR 63.280
Goldman Sachs & 7.000 6/21/2023 EUR 64.240
Goldman Sachs & 5.000 12/21/2022 EUR 77.630
Bank Julius Bae 9.250 9/19/2022 EUR 60.450
Bank Julius Bae 8.200 9/19/2022 USD 55.700
Bank Julius Bae 12.000 9/19/2022 USD 52.050
Leonteq Securit 10.000 9/21/2022 EUR 64.260
Credit Suisse A 8.250 9/19/2022 EUR 59.330
Vontobel Financ 8.500 7/13/2022 EUR 47.930
VTB Bank PJSC 0.010 5/20/2026 RUB 65.900
UniCredit Bank 3.500 2/13/2023 EUR 34.920
Leonteq Securit 11.000 7/29/2022 CHF 53.490
Leonteq Securit 11.000 10/31/2022 USD 55.830
Credit Suisse A 8.000 08/03/2022 CHF 28.590
SG Issuer SA 7.700 1/20/2024 SEK 60.920
TMK PJSC 7.350 2/28/2025 RUB 60.160
Vontobel Financ 5.500 09/09/2022 EUR 64.400
Raiffeisen Swit 8.200 11/03/2022 CHF 54.020
Raiffeisen Swit 6.500 11/03/2022 CHF 56.390
Bank Vontobel A 11.006 10/31/2022 CHF 47.500
Bank Vontobel A 8.503 10/31/2022 CHF 59.300
Landesbank Hess 2.234 06/09/2036 EUR 69.500
UniCredit Bank 1.560 1/20/2031 EUR 72.690
Bank Vontobel A 9.001 10/17/2022 CHF 54.800
Bank Vontobel A 8.000 10/17/2022 CHF 59.800
UBS AG/London 13.250 10/21/2022 CHF 46.450
UBS AG/London 13.250 10/21/2022 CHF 48.250
EFG Internation 5.800 4/26/2023 EUR 32.200
Leonteq Securit 12.000 7/22/2022 CHF 55.620
UniCredit Bank 0.900 7/18/2031 EUR 75.650
Raiffeisen Swit 8.200 10/19/2022 CHF 56.370
Raiffeisen Swit 7.000 4/19/2023 CHF 71.720
Landesbank Bade 7.250 7/22/2022 EUR 58.510
Landesbank Bade 5.000 7/22/2022 EUR 64.370
Vontobel Financ 3.500 07/03/2023 EUR 65.110
Landesbank Hess 1.100 7/23/2036 EUR 73.050
VTB Bank PJSC 0.010 5/19/2024 RUB 72.020
UBS AG/London 12.500 12/16/2022 CHF 44.350
UBS AG/London 8.000 12/16/2022 CHF 55.700
UBS AG/London 9.000 12/16/2022 CHF 71.350
Goldman Sachs & 5.000 3/22/2023 EUR 77.030
Landesbank Bade 4.000 7/25/2025 EUR 42.410
Bank Julius Bae 7.850 9/19/2022 USD 67.550
Leonteq Securit 10.520 12/21/2022 USD 57.890
DekaBank Deutsc 2.000 2/23/2024 EUR 69.950
DekaBank Deutsc 3.400 2/23/2024 EUR 70.160
Erste Group Ban 7.250 03/03/2026 EUR 34.500
EFG Internation 10.000 7/27/2022 CHF 47.400
Sberbank of Rus 0.010 1/29/2024 RUB 85.930
SG Issuer SA 1.250 2/28/2033 EUR 64.240
Bank Vontobel A 7.756 2/13/2023 CHF 56.800
Bank Vontobel A 6.507 8/17/2022 CHF 67.200
Bank Vontobel A 12.505 8/19/2022 CHF 43.500
Bank Vontobel A 6.505 2/27/2023 CHF 47.900
Leonteq Securit 9.000 8/26/2022 CHF 47.690
Leonteq Securit 14.000 8/26/2022 USD 19.820
Leonteq Securit 8.000 03/01/2023 CHF 50.850
Leonteq Securit 11.000 8/26/2022 CHF 30.080
Raiffeisen Swit 7.500 03/01/2023 CHF 55.600
Landesbank Bade 3.150 3/24/2023 EUR 54.070
Sberbank of Rus 0.010 03/04/2026 RUB 77.210
UBS AG/London 16.250 09/05/2022 CHF 43.500
Landesbank Hess 1.400 03/05/2036 EUR 71.850
Landesbank Hess 1.000 04/09/2035 EUR 73.400
UniCredit Bank 4.400 04/12/2023 EUR 61.480
Societe General 2.000 10/19/2022 EUR 63.750
UniCredit Bank 5.150 4/24/2023 EUR 58.210
Bank Vontobel A 20.004 08/10/2022 CHF 43.700
UBS AG/London 11.000 8/24/2022 CHF 42.250
UBS AG/London 6.500 2/24/2023 CHF 54.350
UBS AG/London 11.250 8/24/2022 CHF 52.900
EFG Internation 15.000 8/24/2022 CHF 49.800
EFG Internation 8.200 03/01/2023 USD 34.490
Landesbank Hess 1.000 04/03/2035 EUR 72.600
Danske Bank A/S 7.500 01/09/2025 SEK 44.130
VTB Bank PJSC 0.010 3/25/2025 RUB 87.010
Raiffeisen Swit 7.000 8/19/2022 CHF 47.750
Erste Group Ban 9.500 3/29/2024 EUR 51.450
Credit Suisse A 7.250 9/19/2022 CHF 70.170
Raiffeisen Cent 8.250 05/11/2023 EUR 57.040
Nordea Bank Abp 3.450 7/20/2026 SEK 71.620
Bank Julius Bae 9.650 7/29/2022 USD 70.200
Leonteq Securit 10.000 10/31/2022 USD 39.080
Leonteq Securit 10.000 10/31/2022 CHF 65.550
Vontobel Financ 15.750 08/03/2022 EUR 30.310
UBS AG/London 5.520 4/29/2041 USD 50.391
Leonteq Securit 11.500 10/27/2022 CHF 52.350
Landesbank Bade 3.350 4/28/2023 EUR 41.240
Landesbank Bade 7.000 4/28/2023 EUR 43.480
Landesbank Bade 7.000 4/28/2023 EUR 74.110
Landesbank Bade 5.250 4/28/2023 EUR 34.360
Landesbank Bade 2.150 4/28/2023 EUR 72.220
Landesbank Bade 5.200 4/28/2023 EUR 37.730
Landesbank Bade 2.000 4/28/2023 EUR 72.300
Landesbank Bade 3.150 4/28/2023 EUR 37.920
Landesbank Bade 2.300 4/28/2023 EUR 51.190
Landesbank Bade 6.000 4/28/2023 EUR 65.620
Landesbank Bade 4.350 4/28/2023 EUR 37.590
Bank Vontobel A 7.504 4/24/2023 CHF 72.700
Bank Vontobel A 12.005 10/24/2022 CHF 48.000
EFG Internation 9.000 10/28/2022 CHF 63.410
UBS AG/London 10.500 4/28/2023 CHF 65.500
UBS AG/London 8.000 10/28/2022 CHF 62.050
UBS AG/London 13.750 10/28/2022 EUR 58.350
UBS AG/London 8.750 10/28/2022 CHF 52.750
UBS AG/London 9.500 10/28/2022 CHF 55.300
UBS AG/London 8.750 4/28/2023 CHF 59.200
SG Issuer SA 7.740 1/20/2024 SEK 60.970
Leonteq Securit 10.000 10/31/2022 EUR 67.030
Leonteq Securit 7.000 05/03/2023 CHF 56.650
Nordea Bank Abp 4.250 7/20/2027 SEK 70.380
Bank Vontobel A 6.503 4/24/2023 EUR 52.900
Bank Vontobel A 7.252 4/24/2023 CHF 53.400
Bank Vontobel A 7.008 7/25/2022 CHF 51.500
Landesbank Bade 3.100 3/24/2023 EUR 72.090
UBS AG/London 7.750 10/28/2022 CHF 61.800
UBS AG/London 12.750 10/28/2022 CHF 36.050
Zurcher Kantona 6.400 11/07/2022 USD 31.810
Sberbank of Rus 0.010 04/04/2025 RUB 75.000
Landesbank Hess 1.000 4/30/2035 EUR 76.100
Pravourmiiskoe 9.500 3/31/2028 RUB 92.010
Landesbank Bade 3.350 4/28/2023 EUR 68.090
Landesbank Bade 3.800 4/28/2023 EUR 51.360
Landesbank Bade 4.200 4/28/2023 EUR 73.710
Landesbank Bade 6.100 4/28/2023 EUR 65.080
Landesbank Bade 3.200 4/28/2023 EUR 68.150
Landesbank Bade 4.000 4/28/2023 EUR 73.620
Landesbank Bade 5.700 4/28/2023 EUR 35.800
Landesbank Bade 3.000 4/28/2023 EUR 40.130
Bank Vontobel A 7.504 4/24/2023 CHF 72.700
DekaBank Deutsc 1.460 10/27/2022 EUR 71.680
UBS AG/London 13.500 4/29/2024 USD 35.410
Raiffeisen Swit 7.700 8/19/2022 CHF 52.820
Leonteq Securit 9.300 8/24/2022 USD 33.770
UBS AG/London 10.250 8/24/2022 CHF 57.050
UBS AG/London 6.250 8/24/2022 CHF 56.400
UBS AG/London 6.500 8/24/2022 CHF 16.780
Credit Suisse A 8.100 8/23/2022 CHF 58.460
EFG Internation 13.000 8/24/2022 CHF 40.960
Vontobel Financ 20.500 8/17/2022 EUR 54.750
DekaBank Deutsc 1.000 3/17/2025 EUR 55.810
DekaBank Deutsc 2.100 3/17/2023 EUR 69.080
UBS AG/London 14.750 2/17/2023 CHF 34.100
EFG Internation 4.500 2/26/2024 USD 44.560
Bank Vontobel A 10.006 1/23/2023 EUR 67.900
Bank Vontobel A 10.008 7/22/2022 CHF 53.000
Leonteq Securit 13.000 7/25/2022 USD 21.840
Leonteq Securit 5.500 1/25/2023 USD 49.470
Zurcher Kantona 11.500 08/12/2022 CHF 70.540
DZ Bank AG Deut 3.000 12/23/2022 EUR 32.950
DZ Bank AG Deut 7.000 12/23/2022 EUR 25.900
Leonteq Securit 10.000 08/12/2022 CHF 64.190
Corner Banca SA 12.000 08/12/2022 CHF 56.190
Raiffeisen Swit 8.000 08/12/2022 CHF 56.880
VTB Bank PJSC 3.750 EUR 64.000
Landesbank Bade 2.300 9/23/2022 EUR 60.340
Landesbank Bade 3.050 9/23/2022 EUR 50.700
Skandinaviska E 6.500 7/15/2024 SEK 54.320
EFG Internation 13.360 10/12/2022 CHF 63.340
Leonteq Securit 11.000 10/12/2022 CHF 65.360
DZ Bank AG Deut 5.250 7/20/2022 EUR 69.940
DZ Bank AG Deut 4.750 9/21/2022 EUR 52.350
DZ Bank AG Deut 5.000 7/20/2022 EUR 70.600
DZ Bank AG Deut 5.500 9/21/2022 EUR 63.520
Landesbank Hess 0.850 2/18/2036 EUR 69.550
Nordea Bank Abp 2.000 02/03/2026 SEK 64.660
VTB Bank PJSC 0.010 5/13/2025 RUB 65.060
VTB Bank PJSC 0.010 5/13/2025 RUB 69.550
Goldman Sachs & 5.000 3/22/2023 EUR 77.200
EFG Internation 12.000 10/12/2022 CHF 35.880
Bank Julius Bae 7.150 07/06/2022 CHF 72.550
Bank Julius Bae 6.900 07/06/2022 CHF 58.450
Zurcher Kantona 11.250 07/06/2022 EUR 36.260
DZ Bank AG Deut 5.750 7/20/2022 EUR 65.600
DZ Bank AG Deut 5.000 7/20/2022 EUR 72.750
DZ Bank AG Deut 8.750 7/20/2022 EUR 59.370
Zurcher Kantona 6.500 12/21/2022 EUR 61.530
VTB Bank PJSC 0.010 04/08/2026 RUB 77.590
Leonteq Securit 10.000 12/21/2022 USD 31.920
EFG Internation 6.000 3/30/2023 USD 59.450
Raiffeisen Schw 7.250 02/06/2023 CHF 69.950
Landesbank Bade 2.550 6/23/2023 EUR 67.770
SG Issuer SA 6.850 1/20/2024 SEK 64.460
Goldman Sachs & 6.000 12/21/2022 EUR 63.450
DZ Bank AG Deut 5.000 7/20/2022 EUR 69.600
DZ Bank AG Deut 10.000 7/20/2022 EUR 48.190
DZ Bank AG Deut 7.000 9/21/2022 EUR 52.870
SG Issuer SA 7.600 1/20/2025 SEK 30.140
DZ Bank AG Deut 12.700 9/23/2022 EUR 29.010
DZ Bank AG Deut 14.500 9/23/2022 EUR 28.220
DZ Bank AG Deut 14.900 9/23/2022 EUR 68.210
Vontobel Financ 21.000 9/23/2022 EUR 63.850
Vontobel Financ 8.000 9/23/2022 EUR 73.390
Vontobel Financ 9.000 9/23/2022 EUR 58.520
Vontobel Financ 12.000 9/23/2022 EUR 59.040
Vontobel Financ 10.500 9/23/2022 EUR 73.580
UniCredit Bank 9.650 09/07/2022 EUR 21.670
DZ Bank AG Deut 17.100 9/23/2022 EUR 61.520
DZ Bank AG Deut 16.300 9/23/2022 EUR 44.340
Sberbank of Rus 0.010 04/05/2028 RUB 64.000
Goldman Sachs & 5.000 9/21/2022 EUR 64.730
Goldman Sachs & 5.000 12/21/2022 EUR 77.850
EFG Internation 11.560 10/12/2022 CHF 66.720
Zurcher Kantona 15.250 07/06/2022 CHF 38.830
Zurcher Kantona 8.250 7/20/2022 EUR 54.140
DZ Bank AG Deut 7.500 7/20/2022 EUR 55.850
Bank Julius Bae 8.450 8/15/2022 USD 54.950
Vontobel Financ 14.500 9/23/2022 EUR 78.490
UBS AG/London 7.750 7/20/2022 CHF 45.550
Leonteq Securit 5.000 2/27/2024 CHF 72.510
DSTelecom SA 2.456 05/07/2028 EUR 1.440
Lehman Brothers 3.500 6/20/2011 EUR 0.100
Lehman Brothers 7.500 2/14/2010 AUD 0.100
Erste Group Ban 0.770 11/13/2033 EUR 72.170
Lehman Brothers 7.600 1/31/2013 AUD 0.100
Credit Agricole 3.000 1/19/2041 AUD 55.339
Credit Agricole 10.200 12/13/2027 TRY 36.997
DZ Bank AG Deut 0.800 1/21/2041 EUR 71.798
Region Bretagne 0.150 1/19/2035 EUR 74.038
Lehman Brothers 4.000 03/10/2011 EUR 0.100
Brussels Munici 0.832 3/29/2041 EUR 71.432
Muenchener Hypo 1.003 03/09/2060 EUR 65.643
BNP Paribas SA 1.010 10/05/2035 EUR 71.294
Lehman Brothers 8.000 3/19/2012 USD 0.100
Standard Charte 3.000 4/30/2036 AUD 74.464
DekaBank Deutsc 1.350 11/15/2044 EUR 71.307
Vasakronan AB 2.752 11/20/2031 AUD 76.868
Lehman Brothers 7.150 3/21/2013 USD 0.100
Region Wallonne 0.638 6/21/2047 EUR 59.739
Getin Noble Ban 8.400 1/31/2024 PLN 48.875
Landesbank Bade 0.750 08/05/2031 EUR 76.135
Societe General 1.900 1/15/2031 AUD 68.780
Ukraine Governm 9.710 11/19/2031 UAH 43.922
Norddeutsche La 0.825 02/12/2036 EUR 67.955
Citigroup Globa 0.300 1/19/2032 EUR 72.645
Norddeutsche La 1.420 4/28/2039 EUR 70.383
Credit Agricole 15.700 10/07/2026 TRY 47.458
Erste Group Ban 0.560 9/29/2033 EUR 72.568
Region de Bruxe 0.609 12/03/2049 EUR 56.877
Department of P 0.671 7/17/2040 EUR 69.212
Region de Bruxe 1.053 11/14/2059 EUR 57.785
Kreditanstalt f 1.000 4/27/2041 EUR 76.705
Societe General 2.900 12/23/2031 AUD 74.894
Raiffeisenlande 2.310 2/27/2040 EUR 64.056
Caisse des Depo 2.615 11/15/2049 AUD 66.619
Assistance Publ 0.647 7/17/2040 EUR 68.946
Credit Agricole 1.900 1/15/2031 AUD 77.353
Norddeutsche La 1.000 8/13/2036 EUR 69.058
Norddeutsche La 0.400 8/13/2031 EUR 76.702
Norddeutsche La 0.700 2/15/2036 EUR 66.659
Lehman Brothers 6.300 12/21/2018 USD 0.100
Lehman Brothers 11.000 2/16/2009 CHF 0.100
Lehman Brothers 7.000 2/15/2010 CHF 0.100
Lehman Brothers 5.375 02/04/2014 USD 0.100
Lehman Brothers 13.000 2/16/2009 CHF 0.100
Lehman Brothers 10.000 2/16/2009 CHF 0.100
BNP Paribas SA 4.000 02/11/2029 PLN 79.294
Landesbank Bade 0.490 12/11/2030 EUR 76.460
Department of L 0.550 12/18/2045 EUR 61.989
Societe General 5.050 11/25/2036 USD 58.858
Barclays Bank P 2.070 12/18/2035 USD 71.520
Erste Group Ban 1.110 6/17/2035 EUR 73.305
Credit Agricole 2.100 12/18/2035 USD 69.384
Aktia Bank Oyj 0.850 12/21/2040 EUR 69.107
Banque Internat 0.800 12/22/2032 EUR 76.721
Deutsche Bank A 2.010 12/10/2052 EUR 59.128
Landesbank Bade 0.980 7/15/2032 EUR 75.348
Societe General 2.680 4/13/2031 AUD 73.382
Landesbank Bade 1.080 7/16/2035 EUR 69.678
Heta Asset Reso 7.500 12/31/2023 ATS 4.157
Municipality of 0.210 9/14/2035 EUR 75.488
Brussels Munici 0.892 3/29/2041 EUR 72.890
Brussels Munici 0.892 9/29/2041 EUR 72.175
Raiffeisen-Land 1.100 11/13/2036 EUR 70.056
Agence Francais 0.714 07/10/2045 EUR 70.588
BNG Bank NV 0.772 08/05/2050 EUR 67.721
Wirtschafts- un 0.101 09/08/2033 EUR 77.197
Single Platform 1.080 5/25/2066 EUR 51.814
Landesbank Bade 0.890 08/06/2035 EUR 67.706
Landesbank Hess 0.500 2/18/2036 EUR 70.871
Norddeutsche La 1.570 09/09/2038 EUR 72.645
Ukraine Governm 6.000 09/10/2031 UAH 31.317
Ukraine Governm 6.000 10/15/2031 UAH 31.155
Citigroup Globa 0.200 1/19/2031 EUR 74.766
Lehman Brothers 0.500 12/20/2017 AUD 0.100
Lehman Brothers 0.500 12/20/2017 AUD 0.100
Bayerische Land 0.350 12/23/2030 EUR 80.418
Ukraine Governm 9.700 10/13/2032 UAH 42.810
Ukraine Governm 8.750 2/16/2033 UAH 39.036
Lehman Brothers 0.500 12/20/2017 AUD 0.100
Lehman Brothers 9.300 12/21/2010 EUR 0.100
Ukraine Governm 9.980 03/06/2030 UAH 47.319
Ukraine Governm 9.700 03/10/2032 UAH 43.469
Ukraine Governm 9.700 8/25/2032 UAH 42.950
Ukraine Governm 6.000 1/28/2032 UAH 30.679
Lehman Brothers 0.500 12/20/2017 AUD 0.100
Ukraine Governm 9.730 9/24/2031 UAH 44.153
Lehman Brothers 4.000 01/04/2011 USD 0.100
Lehman Brothers 0.500 12/20/2017 AUD 0.100
Ukraine Governm 9.950 05/08/2030 UAH 46.968
Ukraine Governm 6.000 11/28/2029 UAH 35.099
BNP Paribas SA 1.150 11/20/2034 EUR 75.524
Muenchener Hypo 0.030 1/14/2031 EUR 77.255
Lehman Brothers 8.000 12/31/2010 USD 0.100
Region Wallonne 0.865 7/20/2044 EUR 65.430
Lehman Brothers 0.500 12/20/2017 USD 0.100
Republic of Ire 0.810 07/10/2079 EUR 52.368
DZ Bank AG Deut 0.500 8/18/2036 EUR 73.562
Landesbank Hess 0.460 7/20/2032 EUR 75.459
Societe General 1.290 2/27/2040 EUR 67.000
Lehman Brothers 0.500 12/20/2017 USD 0.100
Lehman Brothers 0.500 12/20/2017 USD 0.100
Lehman Brothers 0.500 12/20/2017 USD 0.100
Landesbank Bade 0.060 10/04/2030 EUR 74.469
Landeskreditban 0.842 05/03/2041 EUR 75.726
Caisse des Depo 2.700 4/28/2041 AUD 70.842
HSBC Continenta 1.385 11/18/2039 EUR 71.541
Hypo Tirol Bank 1.320 7/16/2041 EUR 67.078
Lehman Brothers 6.000 3/18/2015 USD 0.100
UBS Group AG 3.030 11/18/2034 AUD 76.730
Barclays Bank P 2.000 05/07/2036 MXN 25.162
Single Platform 0.750 8/15/2050 EUR 55.464
Erste Group Ban 0.940 5/22/2034 EUR 72.826
Lehman Brothers 1.000 2/26/2010 USD 0.100
Lehman Brothers 11.750 03/01/2010 EUR 0.100
Berlin Hyp AG 0.750 03/04/2050 EUR 66.894
Societe General 2.710 07/08/2035 AUD 64.212
Landesbank Hess 0.490 2/28/2035 EUR 72.895
DZ Bank AG Deut 0.700 4/29/2036 EUR 77.089
Bayerische Land 1.800 1/25/2036 EUR 85.402
Single Platform 1.180 04/01/2039 EUR 70.757
Aareal Bank AG 1.125 6/28/2030 EUR 75.895
Region Wallonne 0.808 6/24/2038 EUR 74.556
Region Wallonne 0.970 6/24/2043 EUR 67.881
Kreditanstalt f 1.143 4/15/2050 EUR 74.515
Kuntarahoitus O 12.000 6/26/2023 TRY 70.200
Region Occitani 0.786 12/14/2046 EUR 64.811
Landesbank Hess 0.490 1/24/2035 EUR 73.100
Region de Bruxe 0.450 12/22/2056 EUR 46.917
Metropole de Ly 0.500 12/28/2048 EUR 57.701
Landesbank Bade 0.350 1/20/2031 EUR 75.210
Landesbank Bade 0.510 4/15/2031 EUR 75.909
Landesbank Bade 0.460 01/07/2031 EUR 76.961
Landesbank Bade 0.490 12/23/2030 EUR 76.388
Landesbank Hess 0.550 1/21/2036 EUR 71.513
Landesbank Bade 0.520 01/07/2032 EUR 74.535
Norddeutsche La 1.050 01/06/2039 EUR 64.983
Getin Noble Ban 12.110 12/21/2023 PLN 54.875
Grupo Isolux Co 1.000 12/30/2021 USD 0.100
Region Occitani 0.776 10/06/2041 EUR 69.389
Department of V 0.735 07/03/2040 EUR 70.146
Grupo Isolux Co 6.000 12/30/2021 USD 0.267
BNP Paribas SA 3.180 11/19/2039 AUD 67.135
Landesbank Hess 0.700 11/04/2033 EUR 74.223
Muenchener Hypo 1.495 10/05/2050 EUR 68.378
Landesbank Bade 0.340 03/04/2030 EUR 76.159
Caisse des Depo 0.696 9/14/2040 EUR 74.046
Lehman Brothers 6.000 03/04/2015 USD 0.100
Landesbank Bade 0.370 01/06/2031 EUR 75.433
Purple Protecte 1.565 12/23/2060 EUR 67.185
Lehman Brothers 13.000 7/25/2012 EUR 0.100
Kommunekredit 2.200 9/27/2041 AUD 70.302
Landesbank Bade 0.360 12/30/2030 EUR 75.406
Caisse des Depo 2.205 9/28/2041 AUD 65.034
Norddeutsche La 1.410 07/07/2037 EUR 70.750
Kreissparkasse 0.350 2/19/2035 EUR 70.084
Purple Protecte 1.518 1/25/2061 EUR 69.008
Credit Agricole 7.000 06/12/2023 TRY 70.288
Landesbank Bade 1.020 7/15/2033 EUR 73.343
Barclays Bank P 3.020 4/23/2036 NZD 73.097
Ukraine Governm 11.300 05/10/2025 UAH 66.096
Ukraine Governm 11.290 11/10/2025 UAH 63.189
Ukraine Governm 10.360 11/10/2027 UAH 53.467
Ukraine Governm 9.780 05/10/2029 UAH 48.265
Ukraine Governm 9.610 11/10/2029 UAH 46.727
Ukraine Governm 9.150 05/10/2031 UAH 42.712
Ukraine Governm 9.010 11/10/2031 UAH 41.511
Ukraine Governm 8.630 05/10/2033 UAH 38.394
Ukraine Governm 8.520 11/10/2033 UAH 37.504
Ukraine Governm 8.310 11/10/2034 UAH 35.898
Ukraine Governm 6.000 12/11/2030 UAH 32.768
Lehman Brothers 8.800 12/27/2009 EUR 0.100
Lehman Brothers 11.000 12/20/2017 AUD 0.100
Landesbank Bade 0.570 4/23/2031 EUR 76.391
Ukraine Governm 6.000 4/23/2031 UAH 32.024
Ukraine Governm 9.790 5/14/2031 UAH 44.888
Ukraine Governm 6.000 03/12/2031 UAH 32.231
Ukraine Governm 9.800 04/02/2031 UAH 45.049
Lehman Brothers 2.500 8/23/2012 GBP 0.100
Societe General 0.690 4/21/2033 EUR 73.902
Region Hauts-de 0.643 07/09/2040 EUR 68.848
DZ Bank AG Deut 0.500 02/04/2036 EUR 73.055
Single Platform 1.000 07/08/2034 EUR 76.141
Lehman Brothers 3.000 8/13/2011 EUR 0.100
Landesbank Bade 0.440 05/07/2031 EUR 75.268
Landesbank Bade 0.540 4/21/2033 EUR 70.531
Lehman Brothers 14.900 11/16/2010 EUR 0.100
Grand Delta Hab 1.630 03/06/2045 EUR 54.757
Nederlandse Wat 0.810 07/08/2050 EUR 70.152
Single Platform 0.930 07/02/2041 EUR 65.786
Norddeutsche La 0.500 02/10/2033 EUR 72.333
DZ Bank AG Deut 0.550 1/21/2036 EUR 73.774
BPCE SA 2.160 10/06/2031 USD 75.178
Agence Metropol 0.500 07/07/2035 EUR 76.541
Landesbank Bade 0.500 7/30/2031 EUR 75.170
Caisse des Depo 1.275 05/05/2051 EUR 76.319
Irish Bank Reso 6.750 11/30/2013 BGN 33.250
Landesbank Hess 0.600 2/18/2036 EUR 71.887
Lehman Brothers 16.000 10/08/2008 CHF 0.100
Ukraine Governm 6.000 11/22/2028 UAH 37.920
Single Platform 1.200 11/01/2040 EUR 68.671
BPCE SA 2.730 10/05/2036 AUD 68.332
Bayerische Land 1.020 11/12/2035 EUR 76.658
Raiffeisen-Land 1.140 4/26/2051 EUR 74.620
Single Platform 0.725 03/07/2039 EUR 65.268
Region de Bruxe 0.730 2/25/2050 EUR 58.908
Lehman Brothers 3.500 12/20/2027 USD 0.100
Ukraine Governm 6.000 1/22/2031 UAH 32.506
Ukraine Governm 6.000 8/28/2030 UAH 33.337
Ukraine Governm 9.700 12/06/2028 UAH 48.939
Ukraine Governm 6.000 9/19/2029 UAH 35.565
Ukraine Governm 9.910 08/07/2030 UAH 46.417
Ukraine Governm 6.000 9/18/2030 UAH 33.209
Ukraine Governm 6.000 10/11/2028 UAH 38.263
Single Platform 1.200 11/15/2037 EUR 72.490
Ukraine Governm 6.000 1/27/2027 UAH 44.988
Region Occitani 0.580 10/06/2036 EUR 74.864
Lehman Brothers 1.500 10/12/2010 EUR 0.100
Grupo Isolux Co 0.250 12/30/2018 EUR 0.100
ECM Real Estate 5.000 10/09/2011 EUR 15.375
Region de Bruxe 0.256 2/26/2035 EUR 75.113
Societe General 1.192 8/29/2034 USD 66.250
Lehman Brothers 8.000 10/23/2008 USD 0.100
Lehman Brothers 7.000 10/22/2010 EUR 0.100
Lehman Brothers 3.400 9/21/2009 HKD 0.100
Citigroup Globa 1.180 12/23/2036 EUR 71.464
Batigere Grand 1.550 11/14/2039 EUR 60.763
Single Platform 0.840 6/20/2043 EUR 62.540
Caisse des Depo 0.750 11/06/2048 EUR 62.923
Societe General 2.920 2/21/2035 USD 74.604
Single Platform 0.938 2/15/2041 EUR 64.307
Norddeutsche La 0.825 5/18/2033 EUR 75.366
Bayerische Land 0.630 3/19/2032 EUR 79.301
BNP Paribas SA 3.310 2/27/2040 AUD 67.120
Petromena ASA 10.850 11/19/2018 USD 0.622
Landesbank Bade 0.780 4/21/2036 EUR 66.051
Landesbank Bade 0.610 05/11/2034 EUR 68.547
Landesbank Bade 0.500 05/11/2032 EUR 72.761
Lehman Brothers 5.200 11/09/2011 EUR 0.100
Societe General 2.900 10/24/2039 AUD 60.196
Lehman Brothers 18.250 10/02/2008 USD 0.100
Lehman Brothers 6.000 9/20/2011 EUR 0.100
Single Platform 0.785 3/20/2039 EUR 66.069
Single Platform 0.932 2/15/2041 EUR 63.688
Kreditanstalt f 0.885 11/14/2039 EUR 77.256
Landesbank Bade 0.500 4/21/2031 EUR 75.804
Norddeutsche La 1.910 11/10/2036 EUR 77.159
Single Platform 0.803 3/20/2041 EUR 62.337
ECM Real Estate 5.000 10/09/2011 EUR 15.375
Lehman Brothers 4.000 10/12/2010 USD 0.100
Liga Bank eG Re 0.680 3/17/2036 EUR 71.699
Lehman Brothers 9.000 05/06/2011 CHF 0.100
Lehman Brothers 7.000 4/24/2009 USD 0.100
Lehman Brothers 10.000 10/23/2008 USD 0.100
Lehman Brothers 10.600 4/22/2014 MXN 0.100
Bayerische Land 0.770 11/29/2032 EUR 78.953
Bayerische Land 0.820 11/29/2033 EUR 77.663
Lehman Brothers 4.600 08/01/2013 EUR 0.100
Lehman Brothers 8.000 5/22/2009 USD 0.100
Lehman Brothers 16.000 11/09/2008 USD 0.100
Bayerische Land 0.870 11/29/2034 EUR 76.492
Lehman Brothers 10.000 5/22/2009 USD 0.100
Lehman Brothers 1.000 05/09/2012 EUR 0.100
Lehman Brothers 4.300 06/04/2012 USD 0.100
Stichting Afwik 8.450 8/20/2018 USD 5.375
Caisse des Depo 2.340 11/27/2049 AUD 62.478
Lehman Brothers 2.300 06/06/2013 USD 0.100
Lehman Brothers 4.000 06/05/2011 USD 0.100
Bayerische Land 1.637 03/08/2035 EUR 84.195
DZ Bank AG Deut 0.500 03/02/2038 EUR 69.336
Landesbank Bade 0.400 01/12/2032 EUR 74.524
Lehman Brothers 13.500 06/02/2009 USD 0.100
Lehman Brothers 23.300 9/16/2008 USD 0.100
Lehman Brothers 3.000 06/03/2010 EUR 0.100
Lehman Brothers 12.400 06/12/2009 USD 0.100
Caisse des Depo 1.270 10/01/2051 EUR 77.635
BPCE SA 2.250 3/13/2040 AUD 58.382
Lehman Brothers 6.450 2/20/2010 AUD 0.100
Berlin Hyp AG 0.895 7/20/2050 EUR 68.831
Lehman Brothers 5.500 4/23/2014 EUR 0.100
Single Platform 1.870 11/21/2044 EUR 73.565
Agence Francais 0.537 7/16/2040 EUR 73.083
Single Platform 0.605 9/20/2042 EUR 59.775
BNG Bank NV 1.410 7/28/2031 AUD 75.177
Landesbank Bade 0.350 1/13/2031 EUR 76.972
HSBC Bank PLC 10.300 12/20/2024 TRY 49.581
Oberoesterreich 0.655 1/25/2036 EUR 67.842
Lehman Brothers 7.500 5/30/2010 AUD 0.100
Barclays Bank P 2.230 1/26/2036 USD 72.503
Single Platform 0.678 2/15/2041 EUR 60.848
Norddeutsche La 1.175 11/10/2036 EUR 71.467
SpareBank 1 SR- 1.020 10/08/2036 EUR 73.435
Societe General 2.480 7/17/2040 USD 62.480
Goldman Sachs & 7.000 9/21/2022 EUR 66.130
Goldman Sachs & 6.000 3/22/2023 EUR 71.630
Vontobel Financ 13.130 8/17/2022 EUR 55.260
UniCredit Bank 4.250 07/01/2022 USD 55.900
Vontobel Financ 8.000 9/23/2022 EUR 61.250
Vontobel Financ 3.500 9/23/2022 EUR 48.780
Vontobel Financ 6.000 9/23/2022 EUR 55.350
Vontobel Financ 5.000 9/23/2022 EUR 69.350
Vontobel Financ 4.000 9/23/2022 EUR 64.170
Vontobel Financ 5.500 9/23/2022 EUR 64.550
Vontobel Financ 5.000 9/23/2022 EUR 64.420
Vontobel Financ 6.500 9/23/2022 EUR 55.470
Vontobel Financ 2.500 9/23/2022 EUR 54.560
Vontobel Financ 4.500 9/23/2022 EUR 56.280
Vontobel Financ 3.500 9/23/2022 EUR 54.530
Vontobel Financ 5.000 12/23/2022 EUR 65.480
Vontobel Financ 4.500 12/23/2022 EUR 66.050
Vontobel Financ 12.500 12/23/2022 EUR 35.980
Vontobel Financ 6.000 12/23/2022 EUR 65.490
Vontobel Financ 7.500 12/23/2022 EUR 69.290
Vontobel Financ 6.500 12/23/2022 EUR 62.780
Vontobel Financ 6.500 9/23/2022 EUR 61.210
Vontobel Financ 5.000 9/23/2022 EUR 71.350
Vontobel Financ 10.000 9/23/2022 EUR 65.760
Vontobel Financ 7.000 12/23/2022 EUR 66.500
Vontobel Financ 8.000 9/23/2022 EUR 64.680
Vontobel Financ 6.500 9/23/2022 EUR 64.800
Vontobel Financ 7.000 9/23/2022 EUR 64.920
Vontobel Financ 7.000 12/23/2022 EUR 66.580
Vontobel Financ 5.500 12/23/2022 EUR 65.840
Vontobel Financ 8.000 12/23/2022 EUR 67.080
Vontobel Financ 5.500 9/23/2022 EUR 64.550
Vontobel Financ 8.000 9/23/2022 EUR 65.170
Vontobel Financ 4.500 12/23/2022 EUR 56.040
Vontobel Financ 5.500 9/23/2022 EUR 55.230
Vontobel Financ 13.500 12/23/2022 EUR 63.560
Vontobel Financ 3.000 12/23/2022 EUR 60.150
Vontobel Financ 4.500 12/23/2022 EUR 60.900
Vontobel Financ 3.500 12/23/2022 EUR 60.400
Vontobel Financ 4.000 12/23/2022 EUR 60.650
Vontobel Financ 9.500 12/23/2022 EUR 67.740
Vontobel Financ 7.500 12/23/2022 EUR 70.490
Vontobel Financ 7.000 12/23/2022 EUR 63.030
Vontobel Financ 6.000 12/23/2022 EUR 69.770
Vontobel Financ 6.000 3/24/2023 EUR 58.100
Vontobel Financ 3.000 3/24/2023 EUR 58.750
Vontobel Financ 4.000 3/24/2023 EUR 59.490
Vontobel Financ 3.500 3/24/2023 EUR 59.120
Vontobel Financ 4.500 3/24/2023 EUR 59.870
Vontobel Financ 8.000 3/24/2023 EUR 58.890
Vontobel Financ 8.000 12/23/2022 EUR 57.650
Vontobel Financ 7.000 3/24/2023 EUR 65.240
Vontobel Financ 8.500 3/24/2023 EUR 62.950
Vontobel Financ 12.000 3/24/2023 EUR 65.290
Vontobel Financ 10.500 3/24/2023 EUR 74.360
Vontobel Financ 13.500 12/23/2022 EUR 69.780
Vontobel Financ 11.500 12/23/2022 EUR 73.240
Vontobel Financ 16.500 12/23/2022 EUR 74.940
Vontobel Financ 14.500 3/24/2023 EUR 74.940
Vontobel Financ 18.000 12/23/2022 EUR 72.680
Vontobel Financ 11.750 3/24/2023 EUR 63.110
Vontobel Financ 8.500 3/24/2023 EUR 67.060
Vontobel Financ 13.500 3/24/2023 EUR 68.790
Vontobel Financ 8.500 3/24/2023 EUR 68.920
Vontobel Financ 10.000 3/24/2023 EUR 66.010
Vontobel Financ 11.500 3/24/2023 EUR 67.120
Vontobel Financ 10.500 6/23/2023 EUR 67.680
Vontobel Financ 9.000 6/23/2023 EUR 69.850
Vontobel Financ 11.500 6/23/2023 EUR 68.680
Vontobel Financ 13.000 6/23/2023 EUR 70.180
DekaBank Deutsc 3.600 07/01/2022 EUR 46.390
Stadtsparkasse 1.000 11/03/2031 EUR 77.231
Bayerische Land 1.440 11/03/2033 EUR 83.620
Stadtsparkasse 1.040 11/14/2031 EUR 77.265
Brussels Munici 0.384 6/15/2035 EUR 76.637
Lehman Brothers 6.000 7/28/2010 EUR 0.100
Hellas Telecomm 8.500 10/15/2013 EUR 0.834
NORD/LB Luxembo 0.542 9/30/2037 EUR 71.228
Credit Agricole 0.700 4/15/2033 EUR 75.525
Single Platform 1.083 2/15/2041 EUR 66.593
Landesbank Bade 0.660 7/14/2036 EUR 64.525
Bayerische Land 0.520 11/26/2031 EUR 80.711
Department of B 1.368 05/06/2044 EUR 76.902
Lehman Brothers 4.150 8/25/2020 EUR 0.100
Department of L 0.442 10/25/2045 EUR 60.491
Single Platform 1.490 3/20/2051 EUR 65.988
Lehman Brothers 6.000 12/06/2016 USD 0.100
Caisse des Depo 2.160 12/07/2050 AUD 59.540
Region Wallonne 0.591 02/10/2040 EUR 68.617
Lehman Brothers 4.000 4/24/2009 USD 0.100
Department of G 0.900 12/15/2039 EUR 73.076
Lehman Brothers 15.000 3/30/2011 EUR 0.100
Region Bretagne 0.700 12/02/2038 EUR 71.902
Lehman Brothers 0.250 10/19/2012 CHF 0.100
Citigroup Globa 1.250 11/02/2036 EUR 72.409
Lehman Brothers 7.000 2/15/2012 EUR 0.100
Norske Skogindu 2.000 12/30/2115 EUR 0.113
Landesbank Bade 0.530 03/03/2031 EUR 76.934
Lehman Brothers 3.500 10/24/2011 USD 0.100
Nederlandse Wat 0.964 06/11/2059 EUR 71.063
Lehman Brothers 5.200 3/19/2018 EUR 0.100
Lehman Brothers 14.900 9/15/2008 EUR 0.100
Lehman Brothers 6.000 2/14/2012 EUR 0.100
Lehman Brothers 6.600 2/22/2012 EUR 0.100
Lehman Brothers 4.690 2/19/2017 EUR 0.100
Ukraine Governm 9.500 3/19/2025 UAH 63.780
Landesbank Bade 0.560 7/13/2034 EUR 67.786
Lehman Brothers 2.000 10/28/2010 EUR 0.100
Lehman Brothers 11.000 6/29/2009 EUR 0.100
Lehman Brothers 5.500 6/15/2009 CHF 0.100
Lehman Brothers 1.500 10/25/2011 EUR 0.100
Heta Asset Reso 4.350 12/31/2023 EUR 4.007
Astana Finance 9.000 11/16/2011 USD 15.250
Region Bretagne 0.770 12/01/2039 EUR 71.385
DZ Bank AG Deut 0.600 5/15/2036 EUR 75.750
Norddeutsche La 1.000 01/12/2034 EUR 75.366
Liga Bank eG Re 0.760 12/08/2036 EUR 71.524
Citigroup Globa 1.030 10/25/2034 EUR 72.254
Landesbank Bade 0.370 10/20/2031 EUR 73.492
Lehman Brothers 7.250 10/06/2008 EUR 0.100
Lehman Brothers 10.500 08/09/2010 EUR 0.100
Lehman Brothers 9.000 6/13/2009 USD 0.100
Lehman Brothers 7.000 11/28/2008 CHF 0.100
Lehman Brothers 8.000 5/22/2009 USD 0.100
SG Issuer SA 0.100 06/11/2029 NZD 66.007
Credit Industri 2.275 10/08/2035 EUR 76.233
Region de Bruxe 0.796 07/02/2042 EUR 69.210
Lehman Brothers 7.000 4/14/2009 EUR 0.100
Wirtschafts- un 0.500 12/01/2038 EUR 72.376
Lehman Brothers 7.750 1/30/2009 EUR 0.100
Wirtschafts- un 0.450 12/01/2038 EUR 73.084
Communaute Fran 0.818 8/28/2050 EUR 58.338
Barclays Bank P 1.000 8/31/2034 EUR 77.183
Region Bretagne 0.642 6/16/2037 EUR 73.802
Landesbank Bade 0.140 10/20/2031 EUR 76.489
BNP Paribas SA 2.750 10/24/2034 AUD 69.706
Lehman Brothers 7.585 11/22/2009 MXN 0.100
Norddeutsche La 1.200 1/13/2037 EUR 71.346
Region Bretagne 0.815 06/12/2040 EUR 71.418
Region Bretagne 0.607 06/11/2036 EUR 75.646
Single Platform 0.960 7/22/2038 EUR 68.814
Aktia Bank Oyj 0.800 2/26/2036 EUR 74.612
Lehman Brothers 2.300 6/27/2013 USD 0.100
Muenchener Hypo 0.510 01/10/2035 EUR 77.305
Bayerische Land 1.320 9/16/2033 EUR 82.688
DZ Bank AG Deut 0.650 12/22/2036 EUR 75.604
Ukraine Governm 6.500 9/20/2023 UAH 71.516
Landesbank Bade 0.150 9/20/2030 EUR 75.236
Transports Publ 0.220 10/28/2032 CHF 75.319
Landeskreditban 1.025 04/01/2061 EUR 66.199
Region Bourgogn 0.300 12/03/2040 EUR 63.720
Lehman Brothers 5.220 03/01/2024 EUR 0.100
Natixis SA 2.180 8/24/2035 USD 72.740
Cooperatieve Ra 0.500 12/29/2027 MXN 57.525
Kuntarahoitus O 1.170 9/22/2056 EUR 73.840
Single Platform 1.156 02/12/2041 EUR 68.031
Region de Bruxe 0.557 08/07/2048 EUR 57.420
Lehman Brothers 10.000 3/27/2009 USD 0.100
Lehman Brothers 5.000 10/24/2008 CHF 0.100
SAir Group 2.750 7/30/2004 CHF 12.625
Lehman Brothers 4.500 03/06/2013 CHF 0.100
Lehman Brothers 9.000 3/17/2009 GBP 0.100
Lehman Brothers 3.860 9/21/2011 SGD 0.100
Lehman Brothers 3.850 4/24/2009 USD 0.100
Region de Bruxe 0.731 8/25/2060 EUR 50.106
Region de Bruxe 0.761 07/02/2041 EUR 70.176
BNP Paribas SA 0.720 07/01/2031 EUR 76.825
Liga Bank eG Re 0.650 6/26/2034 EUR 74.310
Lehman Brothers 11.000 12/19/2011 USD 0.100
Department of G 0.979 6/25/2040 EUR 73.559
NRW Bank 1.200 10/25/2049 EUR 77.960
Norddeutsche La 0.950 08/03/2033 EUR 75.959
Lehman Brothers 8.000 08/03/2009 USD 0.100
Lehman Brothers 2.500 12/15/2011 GBP 0.100
Natixis SA 2.950 10/28/2034 AUD 74.374
Norddeutsche La 1.050 1/13/2037 EUR 70.296
Communaute Fran 0.771 8/25/2050 EUR 56.932
Communaute Fran 0.785 8/24/2050 EUR 57.831
Lehman Brothers 6.000 10/24/2008 EUR 0.100
Batigere Grand 1.540 11/04/2041 EUR 56.318
Norddeutsche La 0.700 08/03/2033 EUR 74.157
Banque Internat 1.600 07/07/2036 EUR 74.631
Lehman Brothers 4.000 11/24/2016 EUR 0.100
Agence Francais 2.360 10/17/2044 AUD 64.682
Kuntarahoitus O 0.960 10/25/2049 EUR 71.614
DekaBank Deutsc 0.780 10/18/2035 EUR 73.248
Region de Bruxe 0.720 10/17/2051 EUR 57.965
Lehman Brothers 4.350 08/08/2016 SGD 0.100
Norddeutsche La 0.925 7/23/2036 EUR 69.755
Region de Bruxe 0.875 6/22/2057 EUR 55.260
Lehman Brothers 4.000 4/13/2011 CHF 0.100
Region of Centr 0.825 6/18/2041 EUR 70.387
Lehman Brothers 0.250 7/21/2014 EUR 0.100
Credit Agricole 2.810 10/29/2034 AUD 77.625
Credit Agricole 17.520 1/27/2027 TRY 57.379
HSBC Continenta 1.300 10/23/2039 EUR 70.376
Lehman Brothers 5.750 6/15/2009 CHF 0.100
Lehman Brothers 7.500 10/24/2008 USD 0.100
Bank fuer Kirch 0.800 11/12/2035 EUR 73.812
Bank fuer Kirch 0.770 10/12/2035 EUR 73.624
DNB Boligkredit 1.080 5/16/2039 EUR 76.915
DZ Bank AG Deut 0.500 10/20/2036 EUR 73.784
Natixis SA 2.955 5/28/2050 USD 69.113
Single Platform 0.853 3/20/2040 EUR 64.509
Norddeutsche La 0.825 10/12/2033 EUR 74.388
BNP Paribas SA 3.660 08/09/2039 AUD 72.430
Hypo Tirol Bank 0.740 5/29/2040 EUR 71.797
Aareal Bank AG 0.570 08/07/2029 EUR 75.566
Lehman Brothers 6.000 7/28/2010 EUR 0.100
City of Amsterd 0.490 12/16/2036 EUR 75.336
Barclays Bank P 13.350 9/28/2023 TRY 67.397
*********
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 2022. All rights reserved. ISSN 1529-2754.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.
Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.
The TCR Europe subscription rate is US$775 per half-year,
delivered via e-mail. Additional e-mail subscriptions for
members of the same firm for the term of the initial subscription
or balance thereof are US$25 each. For subscription information,
contact Peter Chapman at 215-945-7000.
* * * End of Transmission * * *