/raid1/www/Hosts/bankrupt/TCREUR_Public/120109.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, January 9, 2012, Vol. 13, No. 6
Headlines
C R O A T I A
HERBOS: Faces Liquidation; Owes More Than EUR21 Million
F R A N C E
PHOTOWATT FRANCE: French Government Comes to Rescue
G E R M A N Y
SOLAR MILLENNIUM: Administrator Seeks Buyers for Project Units
I R E L A N D
D.C KAVANAGH: Appoints Liam Dowdall as Receiver
SEAN DUNN: NAMA Begins Enforcement Proceedings
TABERNA EUROPE: Fitch Affirms 'C' Ratings on Four Note Classes
TABERNA EUROPE: Fitch Affirms 'CCsf' Rating on Class A2 Notes
K A Z A K H S T A N
BTA BANK: Misses US$150 Million Coupon Payments
S E R B I A & M O N T E N E G R O
ZELJEZARA NIKSIC: On Sale With EUR30 Million Asking Price
S L O V E N I A
* SLOVENIA: Number of Receiverships in 2011 Up by a Third Y/Y
N E T H E R L A N D S
GROSVENOR PLACE: S&P Raises Rating on Class E Notes to 'CCC+'
U N I T E D K I N G D O M
APROPOS TECTONIC: Goes Into Administration, Cuts 17 Jobs
BLACKS LEISURE: JD Sports Acquires Firm Out of Administration
JEWELS SOLICITORS: In Administration on Cuts in Legal Funding Aid
TOBAR GROUP: Goes Into Administration, Cuts 35 Jobs
* UK: Football Giants Face Threat of Administration
X X X X X X X X
* BOND PRICING: For the Week January 2, 2012 to January 6, 2012
*********
=============
C R O A T I A
=============
HERBOS: Faces Liquidation; Owes More Than EUR21 Million
-------------------------------------------------------
Aggregates Business Europe reports that Herbos has been
liquidated after running up debts of more than EUR21 million.
According to Aggregates Business Europe, the Sisak Court in
Croatia agreed to the liquidation after hearing how the firm owed
a total of HRK160 million (EUR21.22 million) to its trustees.
The sum included HRK40 million (EUR5.3 million) owed to the
Croatian government.
Herbos is a Croatian construction materials company. It also
produces herb protection chemicals.
===========
F R A N C E
===========
PHOTOWATT FRANCE: French Government Comes to Rescue
---------------------------------------------------
PV-Tech reports that the French government is set to offer
Photowatt France an 11th-hour reprieve by investing in the
company.
Two months ago, Photowatt was on the verge of filing for
bankruptcy after falling demand and increased competition led to
escalating losses, PV-Tech recounts.
According to PV-Tech, Environment Minister Nathalie Kosciusko-
Morizet said that Photowatt was being hurt by lower-priced
competitors and that the government "would like to invest" in the
company. No further details on the level or type of investment
were provided in the interview, although a Photowatt spokesperson
told PV-Tech that there would be a tender for new ownership in
January. The deadline for this tender is January 17, with
Photowatt expected to be under new ownership in early spring, PV-
Tech discloses.
Photowatt France is a PV manufacturer. It is a subsidiary of
Canada's ATS Automation Tooling Systems.
=============
G E R M A N Y
=============
SOLAR MILLENNIUM: Administrator Seeks Buyers for Project Units
--------------------------------------------------------------
Stefan Nicola at Bloomberg News reports that Solar Millennium
AG's insolvency administrator is seeking to sell parts or all of
the company.
According to Bloomberg, Volker Boehm of Schulze & Braun said on
Thursday in a statement that it's seeking buyers for the
company's 60 or so project units and stakes, including Oakland,
California-based Solar Trust of America LLC, which is planning
the world's biggest solar plant.
Bloomberg relates that Mr. Boehm said potential buyers have
already approached Solar Millennium and initial talks have
started. Mr. Boehm, as cited by Bloomberg, said he's "very
optimistic" that projects can be divested.
On Dec. 27, 2011, the Troubled Company Reporter-Europe, citing
Bloomberg News, disclosed that Solarhybrid AG remains "very
interested" in buying the U.S. projects of Solar Millennium.
As reported by the Troubled Company Reporter-Europe on Dec. 23,
2011, Bloomberg News related that Solar Millennium filed for
insolvency, citing slow progress in selling U.S. projects and a
failure to reach an agreement to bring in investors to the
Ibersol project in Spain.
Solar Millennium AG is an Erlangen-based solar company. It had
focused on developing solar-thermal plants in Europe and the U.S.
=============
I R E L A N D
=============
D.C KAVANAGH: Appoints Liam Dowdall as Receiver
-----------------------------------------------
Irish Examiner reports that D.C Kavanagh has gone into
receivership.
Liam Dowdall of Smith Williamson and Freaney chartered
accountants has been appointed as the company's receiver and
manager, Irish Examiner relates.
The jobs are not thought to be under threat by the announcement,
Irish Examiner notes.
D.C Kavanagh is a Ballymount, West Dublin-based printing company.
It employs 26 people.
SEAN DUNN: NAMA Begins Enforcement Proceedings
----------------------------------------------
RTE News reports that National Asset Management Agency (NAMA)
has begun enforcement proceedings against developer Sean Dunne.
"We served papers on Sean Dunne over the Christmas holidays as
part of enforcement proceedings to recover debts for the Irish
taxpayer," the report quoted an unnamed NAMA spokesman as saying.
RTE News notes that NAMA intends to take the action to pursue
personal guarantees given by Mr. Dunne.
Last year, the report recalls, NAMA appointed a statutory
receiver to a number of properties owned by Mr. Dunne. Grant
Thornton was been appointed to act as receiver.
One of the properties included in the receivership was Hume House
in Ballsbridge, which the developer bought in 2005 for
EUR130 million, RTE News says.
The report notes that in 2010, NAMA acquired land and development
loans extended to Mr. Dunne by Irish lenders.
The former Jury's Doyle Hotel in Ballsbridge was not included in
the receivership as it was financed by British-owned Ulster Bank.
TABERNA EUROPE: Fitch Affirms 'C' Ratings on Four Note Classes
--------------------------------------------------------------
Fitch Ratings has affirmed eight classes of notes issued by
Taberna Europe CDO I, P.L.C.
Taberna I:
-- EUR305,339,769 class A1 notes at 'BBsf'; Outlook Negative;
-- EUR90,500,000 class A2 notes at 'CCCsf';
-- EUR48,563,321 class B notes at 'Csf';
-- EUR30,060,118 class C notes at 'Csf';
-- EUR31,735,384 class D notes at 'Csf';
-- EUR21,722,894 class E notes at 'Csf'.
This review was conducted primarily under the framework described
in 'Global Rating Criteria for Structured Finance CDOs' and
'Global Rating Criteria for Corporate CDOs' using the Portfolio
Credit Model (PCM) for projecting future default levels for the
underlying portfolio, as well as the 'Global Surveillance
Criteria for Trust Preferred CDOs'. The default levels were then
compared to the breakeven levels generated by Fitch's cash flow
model of the CDO under various default timing and interest rate
stress scenarios, as described in the report 'Global Criteria for
Cash Flow Analysis in CDOs'. Fitch also considered additional
qualitative factors into its analysis to conclude the rating
actions for the rated notes. The following commentary summarizes
the key rating factors of Fitch's rating actions. All references
to underlying credit quality in the commentary are based on a
combination of publicly available ratings and Fitch's
credit opinions.
Of the total EUR544 million portfolio, 52% of the portfolio is
publicly rated by Fitch or other rating agencies, while Fitch's
corporate analysts provide a credit opinion on 47.6%. Since
Fitch's last rating action in December 2010, the credit
quality of the portfolio collateral has experienced modest
deterioration, with approximately 20.7% of the portfolio
downgraded a weighted average of 1.8 notches, which is mostly
offset with approximately 15.3% of the portfolio upgraded a
weighted average 1.2 notches. Currently, 65.7% of the portfolio
has a Fitch derived rating below investment grade with 42.1% of
the portfolio rated in the 'CCC' category or below, compared to
69.1% and 37.9%, respectively, at the last review.
The cash flow model produces a range of breakeven results that
are consistent with the current ratings. The rating affirmations
are due to the continued portfolio amortization and paydowns
offsetting modest negative migration.
The remaining portfolio is fairly concentrated with 41 assets
from 35 obligors, which indicate the notes are susceptible to
potential future negative migration in the portfolio. As a
result, available excess spread currently available to
support the notes will likely diminish.
The Rating Outlook remains Negative on the class A1 notes due to
portfolio concentration and the risk that currently available
excess spread supporting these notes will no longer be
sustainable. Outlooks on the notes are assigned to classes rated
above 'CCCsf' to reflect Fitch's expectation of the direction the
ratings of the notes is likely to move within a one- to two-year
period.
The class A2 notes are timely classes currently receiving its
periodic interest; however, there is heightened risk for missed
interest payments these classes may experience due to potential
future negative migration.
The class B, C, D and E notes currently are capitalizing its
interest payments, however the notes are supported by distressed
collateral. Given the expectation of low-to-minimal recovery
prospects for the currently defaulted securities in the
portfolio, which represent 20.1% of the portfolio, there is an
exceptionally high level of credit risk to these notes and
noteholders may experience a principal loss at maturity.
Taberna I is a real estate collateralized debt obligation (CDO)
that closed on Jan. 31, 2007. The portfolio is currently managed
by TP Management LLC, an affiliate of Fortress Investment Group
LLC. As of the latest trustee report from November 2011, the
portfolio is comprised of real estate investment trusts
(79.4%), banking & finance (9.2%), commercial mortgage-backed
securities (5.2%), real estate (3.7%) and commercial real-estate
loans (2.6%) primarily from European and United States real
estate companies.
TABERNA EUROPE: Fitch Affirms 'CCsf' Rating on Class A2 Notes
--------------------------------------------------------------
Fitch Ratings has affirmed two classes of notes issued by Taberna
Europe CDO II, P.L.C. as follows:
-- EUR455,172,400 class A1 notes at 'CCCsf';
-- EUR95,000,000 class A2 notes affirmed at 'CCsf'.
This review was conducted primarily under the framework described
in 'Global Rating Criteria for Structured Finance CDOs' and
'Global Rating Criteria for Corporate CDOs' using the Portfolio
Credit Model (PCM) for projecting future default levels for the
underlying portfolio, as well as the 'Global Surveillance
Criteria for Trust Preferred CDOs'. The default levels were then
compared to the breakeven levels generated by Fitch's cash flow
model of the CDO under various default timing and interest rate
stress scenarios, as described in the report 'Global Criteria for
Cash Flow Analysis in CDOs'. Fitch also considered additional
qualitative factors into its analysis to conclude the rating
actions for the rated notes. The following commentary summarizes
the key rating factors of Fitch's rating actions. All references
to underlying credit quality in the commentary are based on a
combination of publicly available ratings and Fitch's
credit opinions.
Of the total EUR726 million portfolio, 53.3% of the total
portfolio is publicly rated by Fitch or other rating agencies,
while Fitch's corporate analysts provide a credit opinion on
46.7%. Since Fitch's last rating action in December 2010,
the credit quality of the portfolio collateral has improved
modestly, with approximately 14.2% of the portfolio downgraded a
weighted average of 2.4 notches, with approximately 15.8% of the
portfolio upgraded a weighted average 1.9 notches. Currently,
69.3% of the portfolio has a Fitch derived rating below
investment grade with 32.3% of the portfolio rated in the 'CCC'
category or below, compared to 66.8% and 34.9%, respectively, at
the last review.
The rating affirmations are based upon portfolio amortization,
combined with relatively stable portfolio performance over the
last year. Additionally, the cash flow model produces a range of
breakeven results that are consistent with the current ratings.
The remaining portfolio is fairly concentrated with 37 assets
from 37 obligors, which indicate the notes are susceptible to
potential future negative migration in the portfolio. As a
result, available excess spread currently available to
support the notes will likely diminish.
The class A1 and A2 notes are timely classes currently receiving
its periodic interest payments. The class A1 notes additionally
benefit from paydowns from portfolio amortization due to their
seniority in the capital structure. Outlooks are not typically
assigned to notes rated in the 'CCCsf' categories or below.
Taberna II is a real estate collateralized debt obligation (CDO)
that closed on Sept. 13, 2007. The portfolio is currently
managed by TP Management LLC, an affiliate of Fortress Investment
Group LLC. As of the latest trustee report from November 2011,
the portfolio is comprised of real estate investment trusts
(68.9%), banking & finance (18.4%), real estate (4.8%),
commercial mortgage-backed securities (4.4%), and retail (3.4%)
primarily from European and North American real estate companies.
===================
K A Z A K H S T A N
===================
BTA BANK: Misses US$150 Million Coupon Payments
-----------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that Kazakhstan's BTA
Bank JSC appeared to move closer to a second debt restructuring
as it missed $150 million in coupon payments on its bonds due
Jan. 1, market participants said.
About BTA Bank
Headquartered in Almaty, Kazakhstan, BTA reported total assets
and total equity deficit of US$12.2 billion and US$1.48 billion,
respectively, at end-H1 2011, according to the bank's IFRS
financial statements. BTA's net loss for H1 2011 amounted to
US$701 million.
* * *
As reported in the Troubled Company Reporter on Dec. 12, 2011,
Moody's Investors Service has downgraded BTA Bank's (BTA) long-
term local and foreign-currency deposit ratings to Caa2 from B3,
the long-term foreign-currency senior unsecured debt rating to Ca
from Caa2 and the long-term foreign-currency subordinated debt
rating to C from Caa3.
=====================================
S E R B I A & M O N T E N E G R O
=====================================
ZELJEZARA NIKSIC: On Sale With EUR30 Million Asking Price
---------------------------------------------------------
Misha Savic at Bloomberg News reports that Zeljezara AD Niksic
was offered for sale by its receivership administrator with an
asking price of EUR30 million (US$38.4 million).
The court-appointed administration invited offers in an
advertisement in the Pobjeda newspaper, asking potential buyers
to submit bids by Feb. 5, and make a mandatory deposit of 10% of
the starting price first, according to Bloomberg.
Bloomberg notes that the steelworks was put into bankruptcy on
April 15 by a workers union that demanded overdue monthly wages.
This is the fourth time that Zeljezara is being offered to buyers
since Montenegro began asset sales almost two decades ago,
Bloomberg relates.
In August, Zeljezara's main creditors, including Netherlands-
based MNSS BV, secured a U.K. court judgment backing their
efforts to recover claims of estimated EUR60 million, Bloomberg
discloses.
Zeljezara AD Niksic is a Montenegrin steel mill.
===============
S L O V E N I A
===============
* SLOVENIA: Number of Receiverships in 2011 Up by a Third Y/Y
-------------------------------------------------------------
STA News reports that a total of 675 receivership proceedings
were launched in Slovenia in 2011, which is almost a third more
than in the year before.
The Agency for Public Legal Records and Related Services (AJPES)
said that the number of court-mandated debt restructuring and
liquidation proceedings rose by 17% to 42, according to STA News.
=====================
N E T H E R L A N D S
=====================
GROSVENOR PLACE: S&P Raises Rating on Class E Notes to 'CCC+'
-------------------------------------------------------------
Standard & Poor's Ratings Services raised its credit ratings on
Grosvenor Place CLO III B.V.'s outstanding EUR445.43 million
notes. "At the same time, we removed the class A-3, B, C, D,
and E notes from CreditWatch positive," S&P said.
"The rating actions follow our assessment of the transaction's
performance since our last review in March 2010," S&P said.
"We have observed, since our last review, a positive rating
migration of the performing assets in the portfolio. Our analysis
shows that the proportion of assets rated in the 'CCC' category
(i.e., 'CCC+', 'CCC', or 'CCC-') has decreased to 2.99% from
8.32%," S&P said.
S&P also noted that the credit enhancement available for each of
the rated notes has increased, as a result of these developments:
The manager has raised the total collateral balance through
par-building trades to EUR430.25 million (equivalent) from
EUR424.76 million (equivalent).
"Currently, in our opinion, the portfolio does not include
any defaulted assets, compared with EUR4.00 million at the
time of our last review," S&P said.
"Consequently, we did not apply any haircut to the total
collateral balance in our current analysis," S&P said.
"On the cash flow side, we noted an increase in the performing
portfolio weighted-average spread to 3.33%, from 2.84% in March
2010," S&P said.
"We subjected the capital structure to various cash flow
scenarios incorporating different default patterns, as well as
exchange rate and interest rate curves, to determine each
tranche's break-even default rate at each rating level. In our
analysis, we used a total collateral balance of EUR430.25 million
(equivalent), a weighted-average spread of 3.33%, and the
weighted-average recovery rates that we considered appropriate.
In line with the transaction documents, we believe that the
manager will take steps to mitigate any arising mismatch between
the non-euro assets and the non-euro liabilities," S&P said.
"In view of the above developments, and as a result of our credit
and cash flow analysis, we consider that the credit enhancement
available to the class A-1, A-2, A-3, B, C, D, and E notes is now
commensurate with higher ratings. We have therefore raised our
ratings on these classes," S&P said.
"The class D and E tranche ratings were constrained by the
application of the largest obligor default test, a supplemental
stress test we introduced as part of our criteria update. None
of the ratings was affected by the largest industry default test,
another of our supplemental stress tests," S&P said.
"The London branch of Deutsche Bank AG (A+/Watch Neg/A-1)
currently acts as account bank and custodian. We have applied our
2010 counterparty criteria and, in our view, Deutsche Bank is
appropriately rated to support our ratings on the notes," S&P
said.
Grosvenor Place CLO III is a cash flow collateralized loan
obligation (CLO) transaction that securitizes loans to primarily
speculative-grade corporate firms.
Standard & Poor's 17g-7 Disclosure Report
SEC Rule 17g-7 requires an NRSRO, for any report accompanying a
credit rating relating to an asset-backed security as defined in
the Rule, to include a description of the representations,
warranties and enforcement mechanisms available to investors and
a description of how they differ from the representations,
warranties and enforcement mechanisms in issuances of similar
securities. The Rule applies to in-scope securities initially
rated (including preliminary ratings) on or after Sept. 26, 2011.
If applicable, the Standard & Poor's 17g-7 Disclosure Report
included in this credit rating report is available at:
http://standardandpoorsdisclosure-17g7.com
Ratings List
Class Rating
To From
Grosvenor Place CLO III B.V.
EUR450 Million Senior Secured Floating-Rate Notes
Ratings Raised
A-1 AA+ (sf) AA- (sf)
A-2 AA+ (sf) AA- (sf)
Ratings Raised and Removed From CreditWatch Positive
A-3 A+ (sf) BBB+ (sf)/Watch Pos
B A- (sf) BBB- (sf)/Watch Pos
C BBB- (sf) BB+ (sf)/Watch Pos
D B+ (sf) B (sf)/Watch Pos
E CCC+ (sf) CCC (sf)/Watch Pos
===========================
U N I T E D K I N G D O M
===========================
APROPOS TECTONIC: Goes Into Administration, Cuts 17 Jobs
--------------------------------------------------------
Men Media Business reports that Apropos Tectonic has gone into
administration cutting 17 jobs in the process, including three
directors.
David Whitehouse and Steven Muncaster of Duff & Phelps were
appointed joint administrators to the company.
Sixty-three employees have been retained across the business as a
buyer is sought, according to Men Media Business.
"The company had been loss-making in recent months and was faced
with increasing creditor pressure. We have been advised by
management that the company had invested a significant amount of
capital into an associated company, Atelier Modular, which itself
has been placed into liquidation in December 2011. . . . Despite
some cost-cutting exercises implemented by the management,
trading continued to suffer in light of the ongoing economic
decline and the resulting impact this has had on the disposable
income of the company's customer base. As a result, the company
has been struggling to fulfill existing orders and was unable to
pay its debts as they fall due," the report quoted Mr. Whitehouse
as saying.
The administrators are currently negotiating with several
potential buyers and hope to secure a sale in the coming days.
The administrators can be reached at:
David Whitehouse
Steven Muncaster
DUFF & PHELPS
The Chancery, 58 Spring Gardens Manchester
Tel: 0161 827 9002
E-mail: david.whitehouse@duffandphelps.com
steve.muncaster@duffandphelps.com
Apropos Tectonic is a glass buildings manufacturer in Tameside.
BLACKS LEISURE: JD Sports Acquires Firm Out of Administration
-------------------------------------------------------------
Charles Walford at Daily Mail reports that sportswear firm JD
Sports Fashion has bought Blacks Leisure's stores shortly after
the company went into administration.
Sky News reported that JD Sports paid GBP20 million for the
stores, but it is unclear if the deal includes the company's
brands such as Peter Storm and Eurohike, according to Daily Mail.
Daily Mail relates that JD Sports is understood to have beaten
rival Sports Direct, which is owned by Newcastle United owner
Mike Ashley, and outdoor retailer Trespass to land the stores.
The Independent reports that Blacks Leisure confirmed will go
into administration but said it still hopes most of the business
will be salvaged by buyers.
The company admitted it has failed to find an outright buyer
after putting itself up for sale following dire trading,
according to The Independent. The report relates that the
company also said its shares will be suspended because the deal
will attribute no value to its stock.
The Independent notes that job losses are widely expected,
particularly at its head office and warehouse in Northampton,
which costs the company around GBP26 million a year, including
rent and wages.
The Inverness Courier relates that Blacks Leisure in Inverness
remains business as usual despite the impending administration.
"There's nothing happening here at all just now," the manager of
the Academy Street outlet told The Inverness Courier in an
interview.
As reported in the Troubled Company Reporter-Europe on Jan. 4,
2012, The Financial Times said that Blacks Leisure could receive
a lifeline this week with four bidders vying for the majority of
the firm's assets. According to the FT, a number of parties have
submitted preliminary offers to buy all or part of Blacks Leisure
assets, raising hopes that much of the business and the jobs of
many of its 3,500 employees could be saved. It is understood
that four bidders are interested in the bulk of the business.
KPMG, which is handling the sale, has continued to hold talks
with interested parties and provide them with further
information, the FT disclosed. The deal could still be done by
way of a pre-pack administration, whereby a company goes into a
formal insolvency process but emerges rapidly under new ownership
following a pre-arranged sale, the FT said.
About Blacks Leisure
Blacks Leisure is an outdoor clothing and equipment retailer.
The company operates about 300 shops under the Blacks and Millets
brands.
* * *
As reported by the Troubled Company Reporter-Europe on Dec. 28,
2011, the FT related that Blacks said its net debt had risen to
GBP36 million. It made a GBP16 million pre-tax loss in the six
months to August 27, the FT noted.
JEWELS SOLICITORS: In Administration on Cuts in Legal Funding Aid
-----------------------------------------------------------------
Staffordshire Newsletter reports that Jewels Solicitors has gone
into administration after 30 years in service.
Administrator Begbies Traynor is now handling the firm, which was
dealing with more than 1,000 cases, according to Staffordshire
Newsletter.
The report notes that Jewels Solicitors' principal is now
liaising with Begbies Traynor to ensure the cases are transferred
appropriately to other firms, in accordance with clients' wishes,
Steve Currie from Begbies Traynor said.
"The reason for administration is primarily because of the cuts
in public sector funding for legal aid. . . . It was adversely
impacted -- 80% of Jewels Solicitors' work was legal aid work,"
the report quoted Mr. Currie as saying.
The administrator can be reached at:
Steve Currie
BEGBIES TRAYNOR GROUP
Stoke-On-Trent, United Kingdom
Tel: +44 (0)1782 394 500
E-mail: steve.currie@begbies-traynor.com
Jewels Solicitors is a Stafford law firm. Legal areas covered by
Jewels were family law, conveyancing, wills and probate.
TOBAR GROUP: Goes Into Administration, Cuts 35 Jobs
----------------------------------------------------
This is Hampshire News reports that The Tobar Group, which owns
the Hawkin's Bazaar chain that has a store in Festival Place,
went into administration after feeling the squeeze on consumer
spending.
Administrators Zolfo Cooper disclosed the closure of 40 Hawkin's
Bazaar stores and six concession stalls, with the loss of 302
jobs nationwide; and a further 35 jobs will also go at Tobar
Group's head office in Suffolk, according to This is Hampshire
News.
The report notes that stores that have closed include ones in
Portsmouth, Reading and Winchester, but the Basingstoke store, in
Queen Anne's Walk, is among 25 that will be kept open in the hope
they can be sold.
"It is clear from our analysis that a significant portion of the
Hawkin's Bazaar estate is not viable in today's exceptionally
challenging retail environment . . . . In order to preserve
value in the remainder of The Tobar Group, we have regrettably
had to take today's decision regarding store closures. . . . Our
focus now is on the remaining 25 permanent stores as well as the
group's internet, wholesale and direct selling operations . . . .
We consider that there remains a saleable core underlying
business within the group and we have received a number of
expressions of interest which support this view," the report
quoted Peter Saville as saying.
This is Hampshire News says that the administrators were unable
to say how many staff work in the Basingstoke store, although on
average, each branch closure resulted in eight job losses.
The administrator can be reached at:
Peter Saville
ZOLFO COOPER LLP
10 Fleet Place, London
EC4M 7RB
Tel: +44 (0) 20 7332 5299
Fax: +44 (0) 20 7332 5001
E-mail: psaville@zolfocooper.eu
Tobar Group is the owner of a toy and novelty gift store.
* UK: Football Giants Face Threat of Administration
---------------------------------------------------
Geoff Ho at Express.co.uk reports that insolvency experts said
that three English football clubs, as well as Scottish champions
Rangers, are in danger of falling into administration this season
due to the perilous state of their finances.
Aside from Portsmouth, football insolvency experts said that one
other team in the Championship, English football's second tier,
is in danger of going into administration, as well as two other
lower league teams, according to Express.co.uk.
The report notes that Rangers is under threat due to the
GBP49 million in unpaid taxes that Her Majesty's Revenue &
Customs (HMRC) claims it is owed by the Glasgow club.
HMRC will face Rangers in court on January 16 and if it wins, the
club's owner Craig Whyte has admitted that going into
administration is an option for the club.
One leading football insolvency expert said: "There are three
clubs from the Championship downwards that are at risk. However,
Rangers in Scotland is the big concern."
Another football insolvency expert, Brendan Guilfoyle of The P&A
Group, warned that it may no longer be financially viable to save
some clubs due to the economic climate, the report discloses.
Express.co.uk discloses that Mr. Guilfoyle, who handled the
insolvencies of Crystal Palace, Leeds United, Luton Town and
Plymouth Argyle, said: "The market has changed and is getting
worse. We can no longer assume we can find buyers for football
clubs."
===============
X X X X X X X X
===============
* BOND PRICING: For the Week January 2, 2012 to January 6, 2012
---------------------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------- -----
AUSTRIA
-------
BA CREDITANSTALT 5.470 8/28/2013 EUR 57.13
BAWAG 5.310 2/12/2023 EUR 54.76
BAWAG 5.400 2/12/2023 EUR 55.26
BAWAG 5.430 2/26/2024 EUR 50.38
HAA-BANK INTL AG 5.270 4/7/2028 EUR 44.36
HYPO-WOHNBAUBANK 3.625 8/8/2023 EUR 66.79
IMMOFINANZ 4.250 3/8/2018 EUR 3.43
KOMMUNALKREDIT 6.080 12/13/2018 EUR 69.88
KOMMUNALKREDIT 5.430 2/13/2024 EUR 56.38
KOMMUNALKREDIT 4.900 6/23/2031 EUR 44.63
KOMMUNALKREDIT 4.440 12/20/2030 EUR 41.88
OESTER VOLKSBK 4.750 4/30/2021 EUR 68.83
OESTER VOLKSBK 4.160 5/20/2025 EUR 71.39
OESTER VOLKSBK 4.810 7/29/2025 EUR 63.13
OESTER VOLKSBK 5.270 2/8/2027 EUR 40.61
OESTER VOLKSBK 4.170 7/29/2015 EUR 62.75
RAIFF ZENTRALBK 5.470 2/28/2028 EUR 49.77
RAIFF ZENTRALBK 4.500 9/28/2035 EUR 38.54
RAIFF ZENTRALBK 5.730 12/11/2023 EUR 57.15
RAIFF ZENTRALBK 5.500 12/29/2023 EUR 55.52
RAIFFEISEN BK IN 6.625 5/18/2021 EUR 70.23
BELGIUM
-------
ECONOCOM GROUP 4.000 6/1/2016 EUR 19.84
IDEAL STANDARD I 11.750 5/1/2018 EUR 60.75
IDEAL STANDARD I 11.750 5/1/2018 EUR 60.13
ONTEX IV 9.000 4/15/2019 EUR 70.75
ONTEX IV 9.000 4/15/2019 EUR 70.97
ZAGREBACKI HOLD 5.500 7/10/2017 EUR 70.38
CYPRUS
------
AVANGARDCO INVES 10.000 10/29/2015 USD 75.50
CYPRUS GOVT BOND 4.500 6/2/2016 EUR 66.38
CYPRUS GOVT BOND 4.500 3/30/2016 EUR 66.91
CYPRUS GOVT BOND 4.500 1/2/2016 EUR 67.74
CYPRUS GOVT BOND 4.750 12/2/2015 EUR 66.87
CYPRUS GOVT BOND 3.750 11/1/2015 EUR 66.05
CYPRUS GOVT BOND 4.750 9/30/2015 EUR 67.49
CYPRUS GOVT BOND 5.250 6/9/2015 EUR 69.97
CYPRUS GOVT BOND 6.000 4/20/2015 EUR 72.32
CYPRUS GOVT BOND 6.000 2/28/2015 EUR 74.77
CYPRUS GOVT BOND 6.000 1/20/2015 EUR 75.24
CYPRUS GOVT BOND 6.000 1/4/2015 EUR 74.01
CYPRUS GOVT BOND 6.000 1/3/2015 EUR 75.47
CYPRUS GOVT BOND 6.500 8/25/2021 EUR 68.31
CYPRUS GOVT BOND 6.000 6/9/2021 EUR 66.92
CYPRUS GOVT BOND 5.350 6/9/2020 EUR 64.87
CYPRUS GOVT BOND 6.100 4/20/2020 EUR 68.57
CYPRUS GOVT BOND 4.625 2/3/2020 EUR 61.39
CYPRUS GOVT BOND 6.100 6/24/2019 EUR 70.12
CYPRUS GOVT BOND 4.600 2/26/2019 EUR 63.56
CYPRUS GOVT BOND 4.600 10/23/2018 EUR 63.60
CYPRUS GOVT BOND 4.600 4/23/2018 EUR 63.73
CYPRUS GOVT BOND 5.100 1/29/2018 EUR 65.76
CYPRUS GOVT BOND 4.500 9/28/2017 EUR 63.80
CYPRUS GOVT BOND 5.600 4/15/2017 EUR 68.20
CYPRUS GOVT BOND 4.500 4/2/2017 EUR 64.46
CYPRUS GOVT BOND 4.500 2/15/2017 EUR 64.68
CYPRUS GOVT BOND 6.600 10/26/2016 EUR 72.09
CYPRUS GOVT BOND 4.500 1/4/2017 EUR 64.93
CYPRUS GOVT BOND 5.000 6/9/2016 EUR 66.82
CYPRUS GOVT BOND 4.500 7/11/2016 EUR 66.09
CYPRUS GOVT BOND 4.500 10/9/2016 EUR 65.43
MARFIN POPULAR 4.350 11/20/2014 EUR 39.00
REP OF CYPRUS 4.750 2/25/2016 EUR 67.36
REP OF CYPRUS 4.375 7/15/2014 EUR 68.13
DENMARK
-------
FIN-DANISH IND 4.910 7/6/2021 EUR 56.38
KOMMUNEKREDIT 0.500 12/14/2020 ZAR 46.20
KOMMUNEKREDIT 0.500 2/3/2016 TRY 70.23
FINLAND
-------
MUNI FINANCE PLC 0.500 11/16/2017 TRY 59.48
MUNI FINANCE PLC 0.500 10/27/2016 ZAR 73.91
MUNI FINANCE PLC 0.500 10/27/2016 TRY 66.96
MUNI FINANCE PLC 0.500 11/17/2016 ZAR 74.55
MUNI FINANCE PLC 0.500 12/6/2016 TRY 66.66
MUNI FINANCE PLC 0.500 12/21/2016 TRY 66.38
MUNI FINANCE PLC 1.000 6/30/2017 ZAR 71.84
MUNI FINANCE PLC 0.500 11/21/2018 ZAR 65.85
MUNI FINANCE PLC 0.500 4/27/2018 ZAR 66.25
MUNI FINANCE PLC 0.500 11/21/2018 TRY 60.15
MUNI FINANCE PLC 0.500 11/25/2020 ZAR 48.81
MUNI FINANCE PLC 0.500 12/20/2018 ZAR 68.83
MUNI FINANCE PLC 0.500 9/24/2020 CAD 70.66
MUNI FINANCE PLC 0.500 12/21/2021 NZD 66.68
MUNI FINANCE PLC 0.500 11/10/2021 NZD 64.29
MUNI FINANCE PLC 0.250 6/28/2040 CAD 20.83
MUNI FINANCE PLC 0.500 3/17/2025 CAD 52.94
TALVIVAARA 4.000 12/16/2015 EUR 70.80
FRANCE
------
AIR FRANCE-KLM 4.970 4/1/2015 EUR 10.41
ALCATEL-LUCENT 5.000 1/1/2015 EUR 2.36
ALTRAN TECHNOLOG 6.720 1/1/2015 EUR 4.24
ASSYSTEM 4.000 1/1/2017 EUR 19.44
ATOS ORIGIN SA 2.500 1/1/2016 EUR 49.37
AXA SA 5.250 4/16/2040 EUR 74.50
BNP PARIBAS 2.890 5/16/2036 JPY 56.47
BPCE 3.455 9/16/2025 EUR 72.73
CALYON 6.000 6/18/2047 EUR 9.60
CALYON 5.800 10/29/2029 USD 70.23
CAP GEMINI SOGET 3.500 1/1/2014 EUR 36.15
CEGEDIM SA 7.000 7/27/2015 EUR 68.70
CGG VERITAS 1.750 1/1/2016 EUR 27.32
CLUB MEDITERRANE 5.000 6/8/2012 EUR 13.73
CLUB MEDITERRANE 6.110 11/1/2015 EUR 17.90
CMA CGM 8.500 4/15/2017 USD 43.00
CMA CGM 8.500 4/15/2017 USD 44.00
CMA CGM 8.875 4/15/2019 EUR 43.94
CMA CGM 8.875 4/15/2019 EUR 43.13
CNP ASSURANCES 6.000 9/14/2040 EUR 63.01
CNP ASSURANCES 5.250 5/16/2023 EUR 74.48
CNP ASSURANCES 7.375 9/30/2041 GBP 72.03
CNP ASSURANCES 6.875 9/30/2041 EUR 64.32
CRED AGRICOLE SA 3.900 4/19/2021 EUR 70.85
CRED AGRICOLE SA 4.000 9/30/2022 EUR 67.62
CREDIT AGRI CIB 5.830 6/30/2031 USD 68.36
CREDIT AGRI CIB 6.150 2/11/2031 USD 70.41
CREDIT AGRI CIB 5.610 6/15/2031 USD 66.31
CREDIT AGRI CIB 5.850 6/30/2031 USD 68.55
CREDIT AGRI CIB 5.400 12/9/2030 USD 65.19
CREDIT AGRI CIB 5.690 11/26/2030 USD 68.03
CREDIT AGRI CIB 5.080 11/23/2030 USD 62.34
CREDIT AGRI CIB 5.450 11/9/2030 USD 65.82
CREDIT AGRI CIB 4.910 11/3/2030 USD 61.88
CREDIT AGRI CIB 5.350 10/29/2030 USD 64.95
CREDIT AGRI CIB 5.300 10/22/2030 USD 64.67
CREDIT AGRI CIB 5.250 10/18/2030 USD 64.17
CREDIT AGRI CIB 5.300 10/12/2030 USD 64.75
CREDIT AGRI CIB 5.300 10/7/2030 USD 64.58
CREDIT AGRI CIB 4.850 9/17/2030 USD 60.41
CREDIT AGRI CIB 5.270 8/5/2030 USD 64.70
CREDIT AGRI CIB 5.650 6/10/2031 USD 66.72
CREDIT AGRI CIB 5.850 5/27/2031 USD 68.61
CREDIT AGRI CIB 5.880 4/8/2031 USD 70.52
CREDIT AGRI CIB 6.220 3/17/2031 USD 72.43
CREDIT AGRI CIB 5.950 1/19/2031 USD 70.21
CREDIT AGRI CIB 6.050 1/14/2031 USD 71.14
CREDIT AGRI CIB 6.000 12/23/2030 USD 70.66
CREDIT AGRICOLE 3.750 10/20/2020 EUR 71.65
CREDIT AGRICOLE 4.050 12/22/2020 EUR 72.78
CREDIT LOCAL FRA 3.750 5/26/2020 EUR 53.26
DEXIA CRED LOCAL 4.020 3/13/2017 EUR 72.80
DEXIA CRED LOCAL 4.110 9/18/2018 EUR 62.13
DEXIA CRED LOCAL 4.500 2/25/2020 EUR 57.52
DEXIA CRED LOCAL 4.550 4/2/2020 EUR 57.65
DEXIA CRED LOCAL 5.037 8/4/2020 EUR 58.71
DEXIA MUNI AGNCY 2.875 4/23/2030 CHF 73.44
DEXIA MUNI AGNCY 1.000 12/23/2024 EUR 59.45
EURAZEO 6.250 6/10/2014 EUR 55.82
EUROPCAR GROUPE 9.375 4/15/2018 EUR 53.88
EUROPCAR GROUPE 9.375 4/15/2018 EUR 53.95
FAURECIA 4.500 1/1/2015 EUR 20.23
FONCIERE REGIONS 3.340 1/1/2017 EUR 69.65
GIE PSA TRESORER 6.000 9/19/2033 EUR 66.81
GROUPAMA SA 7.875 10/27/2039 EUR 50.79
INGENICO 2.750 1/1/2017 EUR 41.07
ITALCEMENTI FIN 5.375 3/19/2020 EUR 71.63
IXIS CIB 5.400 1/9/2033 EUR 69.00
MAUREL ET PROM 7.125 7/31/2014 EUR 17.47
MAUREL ET PROM 7.125 7/31/2015 EUR 16.55
NEXANS SA 4.000 1/1/2016 EUR 56.29
ORPEA 3.875 1/1/2016 EUR 42.02
PAGESJAUNES FINA 8.875 6/1/2018 EUR 67.07
PAGESJAUNES FINA 8.875 6/1/2018 EUR 67.00
PEUGEOT SA 4.450 1/1/2016 EUR 22.84
PIERRE VACANCES 4.000 10/1/2015 EUR 69.89
PUBLICIS GROUPE 3.125 7/30/2014 EUR 37.64
PUBLICIS GROUPE 1.000 1/18/2018 EUR 49.37
SOC AIR FRANCE 2.750 4/1/2020 EUR 20.85
SOCIETE GENERALE 5.860 4/26/2031 USD 63.35
SOCIETE GENERALE 5.920 3/17/2031 USD 63.68
SOCIETE GENERALE 5.910 3/16/2031 USD 63.59
SOCIETE GENERALE 6.010 3/15/2031 USD 64.50
SOCIETE GENERALE 5.940 3/14/2031 USD 63.87
SOCIETE GENERALE 5.860 3/11/2031 USD 63.17
SOCIETE GENERALE 5.900 3/10/2031 USD 63.53
SOITEC 6.250 9/9/2014 EUR 7.74
TEM 4.250 1/1/2015 EUR 50.94
THEOLIA 2.700 1/1/2041 EUR 7.56
ZLOMREX INT FIN 8.500 2/1/2014 EUR 73.38
ZLOMREX INT FIN 8.500 2/1/2014 EUR 73.38
GERMANY
-------
BAYERISCHE HYPO 5.000 12/21/2029 EUR 57.25
BAYERISCHE LNDBK 3.125 10/12/2016 CHF 69.58
BAYERISCHE LNDBK 4.500 2/7/2019 EUR 65.07
BHW BAUSPARKASSE 5.640 1/30/2024 EUR 57.75
BHW BAUSPARKASSE 5.600 4/14/2023 EUR 58.75
BHW BAUSPARKASSE 5.450 2/20/2023 EUR 58.13
BHW BAUSPARKASSE 4.270 1/15/2019 EUR 61.63
COMMERZBANK AG 5.000 10/30/2017 EUR 70.12
COMMERZBANK AG 5.625 11/29/2017 EUR 66.72
COMMERZBANK AG 4.000 11/30/2017 EUR 16.58
COMMERZBANK AG 5.000 3/30/2018 EUR 15.78
COMMERZBANK AG 5.000 4/20/2018 EUR 15.77
COMMERZBANK AG 6.375 3/22/2019 EUR 71.02
COMMERZBANK AG 6.625 8/30/2019 GBP 69.93
COMMERZBANK AG 7.750 3/16/2021 EUR 72.28
COMMERZBANK AG 6.300 3/15/2022 EUR 60.75
COMMERZBANK AG 6.360 3/15/2022 EUR 60.90
COMMERZBANK AG 6.460 6/24/2022 EUR 60.50
DEUT GENOS-HYPBK 6.610 3/21/2022 EUR 74.10
DEUTSCHE HYP HAN 5.300 11/20/2023 EUR 56.00
DEUTSCHE HYP HAN 6.050 9/27/2022 EUR 62.25
DRESDNER BANK AG 6.180 2/28/2023 EUR 55.83
DRESDNER BANK AG 6.000 2/25/2020 EUR 65.22
DRESDNER BANK AG 5.290 5/31/2021 EUR 57.36
DRESDNER BANK AG 5.700 7/31/2023 EUR 53.28
DRESDNER BANK AG 6.375 5/8/2018 EUR 71.11
DRESDNER BANK AG 6.635 6/18/2018 EUR 71.98
DRESDNER BANK AG 7.350 6/13/2028 EUR 55.70
DRESDNER BANK AG 6.550 4/14/2020 EUR 67.36
DRESDNER BANK AG 6.210 6/20/2022 EUR 59.30
DRESDNER BANK AG 7.160 8/14/2024 EUR 57.84
EUROHYPO AG 3.830 9/21/2020 EUR 50.13
EUROHYPO AG 5.110 8/6/2018 EUR 61.38
EUROHYPO AG 5.560 8/18/2023 EUR 52.50
EUROHYPO AG 6.490 7/17/2017 EUR 69.50
GOTHAER ALLG VER 5.527 9/29/2026 EUR 70.13
HAPAG-LLOYD 9.750 10/15/2017 USD 71.50
HAPAG-LLOYD 9.750 10/15/2017 USD 71.13
HECKLER & KOCH 9.500 5/15/2018 EUR 64.00
HECKLER & KOCH 9.500 5/15/2018 EUR 63.75
HEIDELBERG DRUCK 9.250 4/15/2018 EUR 60.88
HEIDELBERG DRUCK 9.250 4/15/2018 EUR 61.01
HSH NORDBANK AG 4.375 2/14/2017 EUR 51.14
HVB REAL ESTATE 6.570 3/18/2022 EUR 70.76
L-BANK FOERDERBK 0.500 5/10/2027 CAD 52.41
LB BADEN-WUERTT 5.250 10/20/2015 EUR 26.99
LB BADEN-WUERTT 2.800 2/23/2037 JPY 39.32
PRAKTIKER BAU-UN 5.875 2/10/2016 EUR 50.00
Q-CELLS 6.750 10/21/2015 EUR 0.69
RHEINISCHE HYPBK 6.600 5/29/2022 EUR 59.63
SOLARWORLD AG 6.125 1/21/2017 EUR 54.14
SOLARWORLD AG 6.375 7/13/2016 EUR 53.24
SOLON AG SOLAR 1.375 12/6/2012 EUR 1.82
STYROLUTION GRP 7.625 5/15/2016 EUR 73.43
STYROLUTION GRP 7.625 5/15/2016 EUR 73.50
TUI AG 2.750 3/24/2016 EUR 36.99
TUI AG 5.500 11/17/2014 EUR 58.30
VOLKSWAGEN BANK 5.400 9/26/2023 EUR 55.11
VOLKSWAGEN BANK 5.500 6/7/2024 EUR 52.31
GREECE
------
ATHENS URBAN TRN 4.301 8/12/2014 EUR 21.28
ATHENS URBAN TRN 4.057 3/26/2013 EUR 39.41
ATHENS URBAN TRN 5.008 7/18/2017 EUR 21.49
ATHENS URBAN TRN 4.851 9/19/2016 EUR 19.55
FAGE DAIRY IND 7.500 1/15/2015 EUR 76.88
HELLENIC REP I/L 2.300 7/25/2030 EUR 21.00
HELLENIC REP I/L 2.900 7/25/2025 EUR 18.75
HELLENIC REPUB 6.140 4/14/2028 EUR 14.75
HELLENIC REPUB 5.000 3/11/2019 EUR 30.25
HELLENIC REPUB 4.590 4/8/2016 EUR 17.88
HELLENIC REPUB 2.125 7/5/2013 CHF 39.13
HELLENIC REPUB 4.625 6/25/2013 USD 33.13
HELLENIC REPUB 5.200 7/17/2034 EUR 19.38
HELLENIC REPUBLI 5.959 3/4/2019 EUR 22.84
HELLENIC REPUBLI 5.014 2/27/2019 EUR 21.76
HELLENIC REPUBLI 4.600 7/20/2018 EUR 20.55
HELLENIC REPUBLI 4.590 4/3/2018 EUR 21.04
HELLENIC REPUBLI 4.675 10/9/2017 EUR 21.16
HELLENIC REPUBLI 4.300 7/20/2017 EUR 19.46
HELLENIC REPUBLI 5.900 4/20/2017 EUR 19.38
HELLENIC REPUBLI 4.225 3/1/2017 EUR 20.37
HELLENIC REPUBLI 4.020 9/13/2016 EUR 20.27
HELLENIC REPUBLI 3.600 7/20/2016 EUR 19.62
HELLENIC REPUBLI 3.700 11/10/2015 EUR 22.00
HELLENIC REPUBLI 3.702 9/30/2015 EUR 20.39
HELLENIC REPUBLI 6.100 8/20/2015 EUR 22.50
HELLENIC REPUBLI 3.700 7/20/2015 EUR 20.24
HELLENIC REPUBLI 4.113 9/30/2014 EUR 22.28
HELLENIC REPUBLI 5.500 8/20/2014 EUR 21.31
HELLENIC REPUBLI 3.985 7/25/2014 EUR 21.82
HELLENIC REPUBLI 4.500 7/1/2014 EUR 19.63
HELLENIC REPUBLI 4.500 5/20/2014 EUR 21.46
HELLENIC REPUBLI 6.500 1/11/2014 EUR 21.37
HELLENIC REPUBLI 4.520 9/30/2013 EUR 24.38
HELLENIC REPUBLI 4.000 8/20/2013 EUR 27.64
HELLENIC REPUBLI 4.427 7/31/2013 EUR 31.56
HELLENIC REPUBLI 3.900 7/3/2013 EUR 29.13
HELLENIC REPUBLI 7.500 5/20/2013 EUR 33.11
HELLENIC REPUBLI 4.600 5/20/2013 EUR 26.90
HELLENIC REPUBLI 4.506 3/31/2013 EUR 37.51
HELLENIC REPUBLI 4.100 8/20/2012 EUR 30.50
HELLENIC REPUBLI 1.000 6/30/2012 EUR 60.38
HELLENIC REPUBLI 5.250 6/20/2012 EUR 62.13
HELLENIC REPUBLI 5.250 5/18/2012 EUR 35.40
HELLENIC REPUBLI 4.300 3/20/2012 EUR 42.37
HELLENIC REPUBLI 4.600 9/20/2040 EUR 18.36
HELLENIC REPUBLI 4.500 9/20/2037 EUR 18.33
HELLENIC REPUBLI 5.300 3/20/2026 EUR 20.12
HELLENIC REPUBLI 4.700 3/20/2024 EUR 19.69
HELLENIC REPUBLI 5.900 10/22/2022 EUR 19.87
HELLENIC REPUBLI 6.250 6/19/2020 EUR 20.28
HELLENIC REPUBLI 6.500 10/22/2019 EUR 20.43
HELLENIC REPUBLI 6.000 7/19/2019 EUR 19.89
NATL BK G-TENDER 3.875 10/7/2016 EUR 56.64
YIOULA GLASSWORK 9.000 12/1/2015 EUR 44.00
YIOULA GLASSWORK 9.000 12/1/2015 EUR 44.00
GUERNSEY
--------
CALYON FIN GUER 6.000 9/4/2029 USD 72.37
CREDIT AGRICOLE 5.600 2/25/2030 USD 67.63
HUNGARY
-------
FHB MORTGAGE BAN 4.500 3/22/2022 EUR 56.00
HUNGARY GOVT 6.750 10/22/2028 HUF 73.44
HUNGARY GOVT 6.000 11/24/2023 HUF 72.93
OTP BANK 5.270 9/19/2016 EUR 72.56
REP OF HUNGARY 3.875 2/24/2020 EUR 68.03
IRELAND
-------
AIB MORTGAGE BNK 5.580 4/28/2028 EUR 50.53
AIB MORTGAGE BNK 5.000 2/12/2030 EUR 45.22
AIB MORTGAGE BNK 5.000 3/1/2030 EUR 45.18
ALLIED IRISH BKS 4.000 3/19/2015 EUR 72.68
ALLIED IRISH BKS 12.500 6/25/2035 GBP 41.00
ALLIED IRISH BKS 5.625 11/12/2014 EUR 73.18
ANGLO IRISH BANK 4.000 4/15/2015 EUR 70.38
BANESTO FINANC 5.000 3/23/2030 EUR 71.67
BANK OF IRELAND 5.600 9/18/2023 EUR 39.50
BANK OF IRELAND 10.000 2/12/2020 GBP 44.00
BANK OF IRELAND 4.473 11/30/2016 EUR 58.88
BANK OF IRELAND 10.000 7/30/2016 EUR 71.63
BANK OF IRELAND 3.585 4/21/2015 EUR 72.63
BANK OF IRELAND 10.000 2/12/2020 EUR 60.13
BANK OF IRELAND 3.780 4/1/2015 EUR 73.75
BANK OF IRELAND 4.000 1/28/2015 EUR 74.15
BK IRELAND MTGE 5.760 9/7/2029 EUR 48.10
BK IRELAND MTGE 5.450 3/1/2030 EUR 45.54
BK IRELAND MTGE 5.400 11/6/2029 EUR 45.60
BK IRELAND MTGE 5.360 10/12/2029 EUR 45.37
DEPFA ACS BANK 0.500 3/3/2025 CAD 51.34
DEPFA ACS BANK 3.250 7/31/2031 CHF 71.58
DEPFA ACS BANK 5.125 3/16/2037 USD 68.30
DEPFA ACS BANK 4.900 8/24/2035 CAD 70.02
DEPFA ACS BANK 5.125 3/16/2037 USD 69.87
DEPFA BANK PLC 3.150 4/3/2018 EUR 73.52
EBS BLDG SOCIETY 4.000 2/25/2015 EUR 72.30
IRISH LIFE PERM 4.000 3/10/2015 EUR 70.13
UT2 FUNDING PLC 5.321 6/30/2016 EUR 54.02
XL GROUP PLC 6.250 5/15/2027 USD 98.87
ITALY
-----
BANCA MARCHE 5.500 9/16/2030 EUR 51.94
BANCA MARCHE 3.700 9/1/2020 EUR 60.43
BANCA MARCHE 5.400 9/16/2020 EUR 68.17
BANCA MARCHE 3.600 11/12/2020 EUR 59.01
BANCA MARCHE 4.000 1/10/2021 EUR 60.26
BANCA MARCHE 4.000 5/26/2021 EUR 58.83
BANCA MARCHE 4.700 8/16/2021 EUR 62.94
BANCA MARCHE 4.360 1/4/2022 ITL 59.84
BANCA MARCHE 5.125 5/14/2024 ITL 57.83
BANCA MARCHE 3.200 5/10/2017 EUR 71.81
BANCA MARCHE 3.200 6/21/2017 EUR 71.08
BANCA MARCHE 3.200 9/27/2017 EUR 69.56
BANCA MARCHE 4.500 3/4/2018 EUR 73.48
BANCA MARCHE 4.300 1/4/2020 EUR 65.95
BANCA MARCHE 4.000 7/9/2020 EUR 62.52
BANCA MARCHE 3.900 8/17/2020 EUR 61.57
BANCA POP BERGAM 5.320 11/27/2022 EUR 67.44
BANCA POP EMILIA 4.000 4/12/2020 EUR 75.05
BANCA POP ETRURI 5.000 3/31/2021 EUR 58.25
BANCA POP ETRURI 6.900 1/3/2017 EUR 70.40
BANCA POP ETRURI 4.000 12/31/2017 EUR 64.88
BANCA POP ETRURI 4.150 2/16/2018 EUR 65.25
BANCA POP LODI 5.250 4/3/2029 EUR 59.89
BANCA POP MILANO 4.500 4/18/2018 EUR 66.38
BANCA POP MILANO 7.125 3/1/2021 EUR 73.16
BANCA POP MILANO 4.000 4/23/2020 EUR 69.71
BANCA POP MILANO 3.500 6/30/2018 EUR 73.58
BANCA POP MILANO 3.250 6/30/2017 EUR 74.00
BANCA POP VICENT 5.000 3/31/2021 EUR 68.49
BANCA POP VICENT 5.000 6/30/2021 EUR 67.26
BANCA POP VICENT 5.000 3/25/2021 EUR 68.51
BANCA POP VICENT 4.970 4/20/2027 EUR 54.88
BANCA POP VICENT 5.000 5/30/2021 EUR 67.91
BANCO POPOLARE 6.375 5/31/2021 EUR 70.43
BANCO POPOLARE 6.000 11/5/2020 EUR 73.50
BP CIVIDALE 3.180 5/19/2020 EUR 72.03
BTPS 4.000 2/1/2037 EUR 67.77
BTPS I/L 2.550 9/15/2041 EUR 64.91
BTPS I/L 2.350 9/15/2035 EUR 64.65
BTPS I/L 2.100 9/15/2021 EUR 73.69
CASSA RISP FERRA 4.000 11/2/2016 EUR 73.00
CASSA RISP FERRA 4.500 11/2/2020 EUR 56.75
CASSA RISP FERRA 3.400 9/17/2017 EUR 64.38
CASSA RISP FERRA 4.575 2/2/2017 EUR 74.00
CIR SPA 5.750 12/16/2024 EUR 65.84
FINMECCANICA SPA 4.875 3/24/2025 EUR 65.19
INTESA SANPAOLO 2.882 4/20/2020 EUR 71.76
MONTE DEI PASCHI 5.750 9/30/2016 GBP 65.54
REP OF ITALY 1.850 9/15/2057 EUR 46.18
REP OF ITALY 4.490 4/5/2027 EUR 68.71
REP OF ITALY 5.200 7/31/2034 EUR 70.02
REP OF ITALY 5.250 12/7/2034 GBP 71.79
REP OF ITALY 2.870 5/19/2036 JPY 53.49
REP OF ITALY 2.200 9/15/2058 EUR 53.42
REP OF ITALY 4.850 6/11/2060 EUR 63.08
REP OF ITALY 2.000 9/15/2062 EUR 48.50
SANPAOLO IMI 3.750 3/2/2020 EUR 71.51
SEAT PAGINE 10.500 1/31/2017 EUR 55.60
SEAT PAGINE 10.500 1/31/2017 EUR 55.75
SEAT PAGINE 10.500 1/31/2017 EUR 54.50
SEAT PAGINE 10.500 1/31/2017 EUR 55.38
TELECOM ITALIA 5.250 3/17/2055 EUR 64.20
UBI BANCA SPCA 6.250 11/18/2018 EUR 47.18
UNICREDIT SPA 4.350 8/25/2022 EUR 74.07
UNICREDIT SPA 5.050 4/25/2022 EUR 63.04
UNICREDIT SPA 6.040 3/3/2023 EUR 67.54
UNICREDIT SPA 5.160 6/14/2020 EUR 67.35
UNICREDIT SPA 5.000 4/21/2021 EUR 64.80
UNICREDIT SPA 6.700 6/5/2018 EUR 73.85
UNICREDIT SPA 4.500 9/22/2019 EUR 72.95
UNICREDIT SPA 4.750 4/26/2020 EUR 65.52
UNICREDITO ITALI 6.375 10/16/2018 GBP 69.00
UNICREDITO ITALI 3.950 2/1/2016 EUR 73.68
UNICREDITO ITALI 5.000 2/1/2016 GBP 63.04
UNICREDITO ITALI 4.750 4/12/2027 EUR 67.68
UNIPOL ASSICURAZ 5.660 7/28/2023 EUR 53.95
VENETO BANCA 3.500 5/16/2016 EUR 74.30
LUXEMBOURG
----------
ARCELORMITTAL 7.250 4/1/2014 EUR 23.80
CONTROLINVESTE 3.000 1/28/2015 EUR 63.91
ESFG INTERNATION 6.875 10/21/2019 EUR 53.39
FINMECCANICA FIN 5.250 1/21/2022 EUR 69.50
TELECOM IT CAP 6.000 9/30/2034 USD 75.00
TELECOM IT CAP 6.375 11/15/2033 USD 77.35
UBI BANCA INT 8.750 10/29/2012 EUR 67.46
AI FINANCE B.V. 10.875 7/15/2012 USD 74.50
APP INTL FINANCE 11.750 10/1/2005 USD 0.00
ASTANA FINANCE 7.875 6/8/2010 EUR 7.00
ASTANA FINANCE 9.000 11/16/2011 USD 6.49
BK NED GEMEENTEN 0.500 3/29/2021 USD 73.18
BK NED GEMEENTEN 0.500 5/12/2021 ZAR 43.68
BK NED GEMEENTEN 0.500 6/22/2021 ZAR 43.23
BK NED GEMEENTEN 0.500 2/24/2025 CAD 64.04
BK NED GEMEENTEN 0.500 3/17/2016 TRY 69.40
BK NED GEMEENTEN 0.500 4/27/2016 TRY 68.86
BK NED GEMEENTEN 0.500 5/25/2016 TRY 68.50
BK NED GEMEENTEN 0.500 6/22/2016 TRY 68.13
BK NED GEMEENTEN 0.500 9/15/2016 TRY 67.08
BK NED GEMEENTEN 0.500 3/3/2021 NZD 66.94
BK NED GEMEENTEN 0.500 3/29/2021 NZD 66.68
BLT FINANCE BV 7.500 5/15/2014 USD 41.38
BLT FINANCE BV 7.500 5/15/2014 USD 41.50
BRIT INSURANCE 6.625 12/9/2030 GBP 51.99
CLONDALKIN BV 8.000 3/15/2014 EUR 71.67
CLONDALKIN BV 8.000 3/15/2014 EUR 71.75
DEXIA FUNDING 5.875 2/9/2017 GBP 56.72
FINANCE & CREDIT 10.500 1/25/2014 USD 55.00
FRIESLAND BANK 4.210 12/29/2025 EUR 61.53
FRIESLAND BANK 5.320 2/26/2024 EUR 74.01
INDAH KIAT INTL 12.500 6/15/2006 USD 0.01
ING BANK NV 5.380 10/28/2031 USD 72.19
ING BANK NV 4.200 12/19/2035 EUR 60.33
ING BANK NV 5.230 9/30/2031 USD 70.75
MAGYAR TELECOM 9.500 12/15/2016 EUR 68.13
MAGYAR TELECOM 9.500 12/15/2016 EUR 67.82
MARFRIG HLDG EUR 8.375 5/9/2018 USD 76.88
NATL INVESTER BK 25.983 5/7/2029 EUR 8.68
NED WATERSCHAPBK 0.500 3/11/2025 CAD 61.46
NIB CAPITAL BANK 4.510 12/16/2035 EUR 48.00
PORTUGAL TEL FIN 5.000 11/4/2019 EUR 69.85
PORTUGAL TEL FIN 4.500 6/16/2025 EUR 60.09
PORTUGAL TEL FIN 4.375 3/24/2017 EUR 74.05
Q-CELLS INTERNAT 5.750 5/26/2014 EUR 18.99
Q-CELLS INTERNAT 1.375 2/28/2012 EUR 40.30
RABOBANK 0.500 11/26/2021 ZAR 42.01
RABOBANK 0.500 10/27/2016 ZAR 71.36
RBS NV 5.208 11/16/2030 USD 71.00
RBS NV 2.000 10/29/2020 USD 74.50
RBS NV 5.000 9/28/2018 USD 77.13
RBS NV EX-ABN NV 2.910 6/21/2036 JPY 62.20
RBS NV EX-ABN NV 5.000 2/27/2037 EUR 69.49
SNS BANK 4.580 3/20/2026 EUR 53.14
SNS BANK 5.250 4/11/2023 EUR 64.26
SNS BANK 5.300 1/27/2023 EUR 65.37
SNS BANK 4.650 10/19/2021 EUR 64.90
SNS BANK 6.250 10/26/2020 EUR 65.18
SNS BANK 6.625 5/14/2018 EUR 74.54
SNS BANK 5.215 12/3/2027 EUR 56.26
SRLEV NV 9.000 4/15/2041 EUR 67.32
TJIWI KIMIA FIN 13.250 8/1/2001 USD 0.01
NORWAY
------
EKSPORTFINANS 0.720 7/28/2016 JPY 74.90
EKSPORTFINANS 3.330 1/22/2021 CHF 71.88
EKSPORTFINANS 1.570 2/14/2018 JPY 72.32
EKSPORTFINANS 2.250 2/11/2021 CHF 67.92
EKSPORTFINANS 2.500 4/29/2019 CHF 71.38
KOMMUNALBANKEN 0.500 5/25/2016 ZAR 72.72
KOMMUNALBANKEN 0.500 1/27/2016 ZAR 74.83
KOMMUNALBANKEN 0.500 7/29/2016 TRY 67.32
KOMMUNALBANKEN 0.500 7/29/2016 ZAR 71.57
KOMMUNALBANKEN 0.500 5/25/2018 ZAR 60.24
KOMMUNALBANKEN 0.500 3/1/2016 ZAR 74.23
KOMMUNALBANKEN 0.500 7/26/2016 ZAR 71.69
KOMMUNALBANKEN 0.500 3/24/2016 ZAR 73.82
NORSKE SKOGIND 6.125 10/15/2015 USD 56.63
NORSKE SKOGIND 6.125 10/15/2015 USD 56.63
NORSKE SKOGIND 11.750 6/15/2016 EUR 63.19
NORSKE SKOGIND 11.750 6/15/2016 EUR 63.38
NORSKE SKOGIND 7.125 10/15/2033 USD 43.38
NORSKE SKOGIND 7.125 10/15/2033 USD 43.38
NORSKE SKOGIND 7.000 6/26/2017 EUR 52.28
RENEWABLE CORP 6.500 6/4/2014 EUR 49.64
POLAND
------
POLAND GOVT BOND 5.000 4/25/2037 PLN 96.12
REP OF POLAND 4.250 7/20/2055 EUR 74.91
PORTUGAL
--------
BANCO COM PORTUG 3.750 10/8/2016 EUR 66.43
BANCO COM PORTUG 4.750 6/22/2017 EUR 66.25
BANCO ESPIRITO 4.600 1/26/2017 EUR 67.04
BANCO ESPIRITO 10.000 12/6/2021 EUR 84.75
BANCO ESPIRITO 6.875 7/15/2016 EUR 69.85
BANCO ESPIRITO 4.600 9/15/2016 EUR 69.06
BANCO ESPIRITO 3.875 1/21/2015 EUR 73.84
BANCO ESPIRITO 6.160 7/23/2015 EUR 74.75
BRISA 4.500 12/5/2016 EUR 65.39
CAIXA GERAL DEPO 4.570 8/12/2016 EUR 73.00
CAIXA GERAL DEPO 5.165 7/8/2016 EUR 75.88
CAIXA GERAL DEPO 5.090 6/8/2016 EUR 76.25
CAIXA GERAL DEPO 3.875 12/6/2016 EUR 71.05
CAIXA GERAL DEPO 4.900 10/13/2016 EUR 74.75
CAIXA GERAL DEPO 4.455 8/20/2017 EUR 66.63
CAIXA GERAL DEPO 5.500 11/13/2017 EUR 70.13
CAIXA GERAL DEPO 4.400 10/8/2019 EUR 57.00
CAIXA GERAL DEPO 5.980 3/3/2028 EUR 54.88
CAIXA GERAL DEPO 4.850 9/14/2016 EUR 74.38
CAIXA GERAL DEPO 5.380 10/1/2038 EUR 49.88
CAIXA GERAL DEPO 4.250 1/27/2020 EUR 66.42
CAIXA GERAL DEPO 5.320 8/5/2021 EUR 56.38
CAIXA GERAL DEPO 5.120 11/3/2016 EUR 74.25
METRO DE LISBOA 4.061 12/4/2026 EUR 44.46
METRO DE LISBOA 4.799 12/7/2027 EUR 47.16
METRO DE LISBOA 7.300 12/23/2025 EUR 59.47
METRO DE LISBOA 5.750 2/4/2019 EUR 49.58
MONTEPIO GERAL 5.000 2/8/2017 EUR 61.00
PARPUBLICA 5.250 9/28/2017 EUR 71.37
PARPUBLICA 3.567 9/22/2020 EUR 40.13
PARPUBLICA 4.191 10/15/2014 EUR 63.13
PARPUBLICA 4.200 11/16/2026 EUR 30.00
PARPUBLICA 3.500 7/8/2013 EUR 70.38
PORTUGAL (REP) 3.500 3/25/2015 USD 70.93
PORTUGAL (REP) 3.500 3/25/2015 USD 70.93
PORTUGUESE OT'S 4.100 4/15/2037 EUR 46.52
PORTUGUESE OT'S 4.950 10/25/2023 EUR 49.00
PORTUGUESE OT'S 3.850 4/15/2021 EUR 51.00
PORTUGUESE OT'S 4.800 6/15/2020 EUR 52.09
PORTUGUESE OT'S 4.750 6/14/2019 EUR 53.50
PORTUGUESE OT'S 4.450 6/15/2018 EUR 55.19
PORTUGUESE OT'S 4.350 10/16/2017 EUR 57.00
PORTUGUESE OT'S 4.200 10/15/2016 EUR 62.88
PORTUGUESE OT'S 6.400 2/15/2016 EUR 71.35
PORTUGUESE OT'S 3.350 10/15/2015 EUR 69.99
PORTUGUESE OT'S 3.600 10/15/2014 EUR 72.77
REFER 5.875 2/18/2019 EUR 47.00
REFER 4.250 12/13/2021 EUR 29.25
REFER 4.675 10/16/2024 EUR 37.50
REFER 4.047 11/16/2026 EUR 41.35
REFER 4.000 3/16/2015 EUR 36.63
RUSSIA
------
ARIZK 3.000 12/20/2030 RUB 49.34
DVTG-FINANS 7.750 7/18/2013 RUB 20.29
DVTG-FINANS 17.000 8/29/2013 RUB 55.55
NOK 12.500 8/26/2014 RUB 5.00
PROTON-FINANCE 9.000 6/12/2012 RUB 65.00
RBC OJSC 3.270 4/19/2018 RUB 37.33
RBC OJSC 7.000 4/23/2015 RUB 62.00
RBC OJSC 7.000 4/23/2015 RUB 62.51
SPAIN
-----
AYT CEDULAS CAJA 4.000 3/24/2021 EUR 71.07
AYT CEDULAS CAJA 4.000 3/31/2020 EUR 74.28
AYT CEDULAS CAJA 3.750 12/14/2022 EUR 63.01
AYT CEDULAS CAJA 4.250 10/25/2023 EUR 65.53
AYT CEDULAS CAJA 3.750 6/30/2025 EUR 55.18
AYT CEDULAS CAJA 4.750 5/25/2027 EUR 62.62
AYUNTAM DE MADRD 4.550 6/16/2036 EUR 60.28
BANCAJA 1.500 5/22/2018 EUR 60.70
BANCAJA EMI SA 2.755 5/11/2037 JPY 74.20
BANCO BILBAO VIZ 4.375 10/20/2019 EUR 72.80
BANCO BILBAO VIZ 6.025 3/3/2033 EUR 56.81
BANCO BILBAO VIZ 6.200 7/4/2023 EUR 74.66
BANCO BILBAO VIZ 4.500 2/16/2022 EUR 67.92
BANCO CASTILLA 1.500 6/23/2021 EUR 61.40
BANCO POP ESPAN 5.702 12/22/2019 EUR 66.76
BBVA SUB CAP UNI 2.750 10/22/2035 JPY 42.95
CAIXA TERRASSA 4.700 8/9/2021 EUR 41.81
CAJA MADRID 5.020 2/26/2038 EUR 72.92
CAJA MADRID 4.125 3/24/2036 EUR 65.57
CAJA MADRID 4.000 2/3/2025 EUR 73.47
CEDULAS TDA 5 4.125 11/29/2019 EUR 74.71
CEDULAS TDA 6 FO 4.250 4/10/2031 EUR 50.45
CEDULAS TDA 6 FO 3.875 5/23/2025 EUR 57.35
CEDULAS TDA A-4 4.125 4/10/2021 EUR 71.97
CEDULAS TDA A-5 4.250 3/28/2027 EUR 56.28
CEMEX ESPANA LUX 8.875 5/12/2017 EUR 74.83
CEMEX ESPANA LUX 8.875 5/12/2017 EUR 74.88
COMUN AUTO CANAR 3.900 11/30/2035 EUR 67.64
COMUN AUTO CANAR 4.200 10/25/2036 EUR 71.44
COMUNIDAD ARAGON 4.646 7/11/2036 EUR 60.17
COMUNIDAD ARAGON 4.470 7/12/2021 EUR 75.37
COMUNIDAD ARAGON 4.815 10/10/2022 EUR 75.01
COMUNIDAD BALEAR 3.869 11/23/2020 EUR 72.72
COMUNIDAD BALEAR 4.063 11/23/2035 EUR 55.92
GEN DE CATALUNYA 6.350 11/30/2041 EUR 65.46
GEN DE CATALUNYA 4.220 4/26/2035 EUR 48.25
GEN DE CATALUNYA 4.690 10/28/2034 EUR 52.63
GEN DE CATALUNYA 5.950 10/1/2030 EUR 63.67
GEN DE CATALUNYA 5.900 5/28/2030 EUR 64.15
GEN DE CATALUNYA 5.400 5/13/2030 EUR 59.71
GEN DE CATALUNYA 5.219 9/10/2029 EUR 58.74
GEN DE CATALUNYA 5.325 10/5/2028 EUR 60.80
GEN DE CATALUNYA 5.900 5/20/2024 EUR 69.12
GEN DE CATALUNYA 4.900 9/15/2021 EUR 68.64
GEN DE CATALUNYA 4.801 7/31/2020 EUR 70.08
GEN DE CATALUNYA 4.950 2/11/2020 EUR 73.30
GEN DE CATALUNYA 2.750 3/24/2016 CHF 64.62
GEN DE CATALUNYA 2.355 11/10/2015 CHF 74.13
GEN DE CATALUNYA 2.315 9/10/2015 CHF 74.84
GEN DE CATALUNYA 2.125 10/1/2014 CHF 70.37
GEN DE CATALUNYA 5.250 10/5/2023 EUR 65.87
GENERAL DE ALQUI 2.750 8/20/2012 EUR 71.11
GENERAL VALENCIA 4.000 11/2/2016 EUR 81.88
GENERAL VALENCIA 5.900 11/30/2032 EUR 67.75
IM CEDULAS 10 4.500 2/21/2022 EUR 72.79
IM CEDULAS 5 3.500 6/15/2020 EUR 70.11
IM CEDULAS 7 4.000 3/31/2021 EUR 71.14
INSTIT CRDT OFCL 2.100 2/23/2021 JPY 68.31
INSTIT CRDT OFCL 2.570 10/22/2021 CHF 64.32
INSTIT CRDT OFCL 3.250 6/28/2024 CHF 60.55
INSTITUT CATALA 4.250 6/15/2024 EUR 71.30
JUNTA ANDALUCIA 4.250 10/31/2036 EUR 74.48
JUNTA ANDALUCIA 5.000 7/13/2022 EUR 72.35
JUNTA ANDALUCIA 3.050 12/10/2020 JPY 76.33
JUNTA LA MANCHA 3.875 1/31/2036 EUR 50.75
JUNTA LA MANCHA 2.810 10/14/2022 JPY 106.38
JUNTA LA MANCHA 5.950 9/9/2030 EUR 71.64
JUNTA LA MANCHA 4.625 11/30/2022 EUR 74.13
MAPFRE SA 5.921 7/24/2037 EUR 64.97
PITCH1 5.125 7/20/2022 EUR 74.57
SACYR VALLEHERM 6.500 5/1/2016 EUR 70.90
SANTANDER ISSUAN 4.750 5/29/2019 EUR 74.36
SANTANDER ISSUAN 6.533 10/24/2017 GBP 74.02
SANTANDER ISSUAN 5.750 1/31/2018 GBP 73.03
SPANISH GOV'T 4.200 1/31/2037 EUR 72.79
XUNTA DE GALICIA 4.025 11/28/2035 EUR 45.85
XUNTA DE GALICIA 5.350 11/22/2028 EUR 70.94
SWEDEN
------
SAS AB 7.500 4/1/2015 SEK 74.51
SWEDISH EXP CRED 0.500 8/26/2021 AUD 63.25
SWEDISH EXP CRED 8.000 1/27/2012 USD 2.97
SWEDISH EXP CRED 0.500 8/25/2021 ZAR 43.88
SWEDISH EXP CRED 0.500 9/30/2016 ZAR 70.37
SWEDISH EXP CRED 0.500 9/20/2016 ZAR 70.51
SWEDISH EXP CRED 0.500 8/26/2016 ZAR 71.00
SWEDISH EXP CRED 0.500 8/25/2016 ZAR 70.98
SWEDISH EXP CRED 0.500 6/29/2016 TRY 67.65
SWEDISH EXP CRED 0.500 6/14/2016 ZAR 72.28
SWEDISH EXP CRED 0.500 3/3/2016 ZAR 74.13
SWEDISH EXP CRED 0.500 11/27/2015 TRY 70.64
SWEDISH EXP CRED 0.500 9/29/2015 TRY 71.47
SWEDISH EXP CRED 7.500 6/12/2012 USD 7.49
SWEDISH EXP CRED 9.250 4/27/2012 USD 7.67
SWEDISH EXP CRED 9.750 3/23/2012 USD 7.88
SWEDISH EXP CRED 7.500 2/28/2012 USD 8.48
SWEDISH EXP CRED 7.000 3/9/2012 USD 10.67
SWEDISH EXP CRED 7.000 3/9/2012 USD 10.33
SWEDISH EXP CRED 0.500 12/17/2027 USD 54.89
SWEDISH EXP CRED 0.500 1/25/2028 USD 54.62
SWEDISH EXP CRED 6.500 1/27/2012 USD 7.52
SWEDISH EXP CRED 2.130 1/10/2012 USD 10.01
SWITZERLAND
-----------
UBS AG 10.530 1/23/2012 USD 38.21
UBS AG 12.400 3/14/2012 USD 11.51
UBS AG 8.380 3/20/2012 USD 26.93
UBS AG 8.720 3/20/2012 USD 28.82
UBS AG 9.250 3/20/2012 USD 11.41
UBS AG 13.300 5/23/2012 USD 3.26
UBS AG 10.070 3/23/2012 USD 31.69
UBS AG 9.400 8/23/2013 USD 54.92
UBS AG 11.020 10/21/2013 USD 57.00
UBS AG 10.960 7/20/2012 USD 22.14
UBS AG 12.040 7/31/2012 USD 23.44
UBS AG 9.500 8/10/2012 USD 28.42
UBS AG JERSEY 3.220 7/31/2012 EUR 39.06
UNITED KINGDOM
--------------
ABBEY NATL TREAS 5.000 8/26/2030 USD 56.83
ALPHA CREDIT GRP 5.500 6/20/2013 EUR 73.38
ALPHA CREDIT GRP 3.250 2/25/2013 EUR 73.88
ALPHA CREDIT GRP 4.500 6/21/2013 EUR 70.38
ALPHA CREDIT GRP 6.000 6/20/2014 EUR 66.13
BAKKAVOR FIN 2 8.250 2/15/2018 GBP 68.63
BAKKAVOR FIN 2 8.250 2/15/2018 GBP 68.72
BANK OF SCOTLAND 2.340 12/28/2026 JPY 63.96
BANK OF SCOTLAND 2.860 12/13/2021 CHF 72.64
BANK OF SCOTLAND 2.359 3/27/2029 JPY 58.01
BANK OF SCOTLAND 2.408 2/9/2027 JPY 63.00
BARCLAYS BK PLC 8.500 10/16/2012 USD 9.89
BARCLAYS BK PLC 14.000 10/1/2012 USD 9.45
BARCLAYS BK PLC 9.000 10/1/2012 USD 9.65
BARCLAYS BK PLC 8.000 9/28/2012 USD 10.18
BARCLAYS BK PLC 8.000 9/11/2012 USD 9.36
BARCLAYS BK PLC 9.500 8/31/2012 USD 22.35
BARCLAYS BK PLC 9.250 8/31/2012 USD 31.55
BARCLAYS BK PLC 9.000 8/28/2012 USD 10.00
BARCLAYS BK PLC 10.800 7/31/2012 USD 24.71
BARCLAYS BK PLC 11.500 7/27/2012 USD 8.19
BARCLAYS BK PLC 7.000 7/27/2012 USD 9.88
BARCLAYS BK PLC 10.000 7/20/2012 USD 8.76
BARCLAYS BK PLC 8.000 6/29/2012 USD 8.50
BARCLAYS BK PLC 9.250 1/31/2012 USD 7.32
BARCLAYS BK PLC 8.550 1/23/2012 USD 11.33
BARCLAYS BK PLC 5.000 6/3/2041 USD 73.96
BARCLAYS BK PLC 5.250 8/29/2031 USD 74.80
BARCLAYS BK PLC 4.320 11/29/2030 USD 68.00
BARCLAYS BK PLC 9.000 10/16/2012 USD 10.37
BRADFORD&BIN BLD 4.910 2/1/2047 EUR 57.01
CEVA GROUP PLC 10.000 6/30/2018 EUR 55.75
CEVA GROUP PLC 8.500 6/30/2018 EUR 46.13
CO-OPERATIVE BNK 5.875 3/28/2033 GBP 67.39
CO-OPERATIVE BNK 5.625 11/16/2021 GBP 70.47
CO-OPERATIVE BNK 5.750 12/2/2024 GBP 68.59
EFG HELLAS PLC 6.010 1/9/2036 EUR 26.75
EFG HELLAS PLC 4.375 2/11/2013 EUR 63.75
EFG HELLAS PLC 5.400 11/2/2047 EUR 10.25
EMPORIKI GRP FIN 5.100 12/9/2021 EUR 33.50
EMPORIKI GRP FIN 5.000 12/2/2021 EUR 33.13
EMPORIKI GRP FIN 4.350 7/22/2014 EUR 43.75
EMPORIKI GRP FIN 4.000 2/28/2013 EUR 64.63
ENTERPRISE INNS 6.875 5/9/2025 GBP 59.20
ENTERPRISE INNS 6.375 9/26/2031 GBP 56.84
ENTERPRISE INNS 6.500 12/6/2018 GBP 67.45
ENTERPRISE INNS 6.875 2/15/2021 GBP 64.20
ESSAR ENERGY 4.250 2/1/2016 USD 58.87
EX-IM BK OF UKRA 5.793 2/9/2016 USD 70.14
F&C ASSET MNGMT 6.750 12/20/2026 GBP 60.35
GALA ELECTRIC CA 11.500 6/1/2019 GBP 55.13
GALA ELECTRIC CA 11.500 6/1/2019 GBP 54.80
GALA GROUP FIN 8.875 9/1/2018 GBP 74.88
HBOS PLC 6.000 11/1/2033 USD 69.90
HBOS PLC 6.000 11/1/2033 USD 69.90
HBOS PLC 4.500 3/18/2030 EUR 54.23
HBOS PLC 7.070 4/8/2023 EUR 67.87
HBOS PLC 5.374 6/30/2021 EUR 60.75
HBOS PLC 4.375 10/30/2019 EUR 65.68
HSBC BANK PLC 4.750 3/24/2046 GBP 70.48
INEOS GRP HLDG 7.875 2/15/2016 EUR 75.86
LBG CAPITAL NO.1 7.869 8/25/2020 GBP 73.77
LBG CAPITAL NO.1 6.439 5/23/2020 EUR 69.12
LBG CAPITAL NO.1 7.588 5/12/2020 GBP 73.26
LBG CAPITAL NO.1 7.625 10/14/2020 EUR 70.14
LBG CAPITAL NO.1 7.375 3/12/2020 EUR 70.15
LBG CAPITAL NO.1 7.975 9/15/2024 GBP 66.56
LBG CAPITAL NO.2 9.000 7/15/2029 GBP 69.41
LBG CAPITAL NO.2 6.385 5/12/2020 EUR 69.15
LBG CAPITAL NO.2 7.625 12/9/2019 GBP 71.90
LBG CAPITAL NO.2 8.500 6/7/2032 GBP 64.18
LLOYDS TSB BANK 5.750 7/9/2025 GBP 73.09
LOUIS NO1 PLC 8.500 12/1/2014 EUR 64.50
LOUIS NO1 PLC 10.000 12/1/2016 EUR 60.50
LOUIS NO1 PLC 10.000 12/1/2016 EUR 60.50
MATALAN 8.875 4/29/2016 GBP 68.50
MATALAN 9.625 3/31/2017 GBP 44.50
MATALAN 8.875 4/29/2016 GBP 68.27
MATALAN 9.625 3/31/2017 GBP 45.13
MAX PETROLEUM 6.750 9/8/2013 USD 44.02
NATIONWIDE BLDG 5.600 8/19/2030 USD 70.29
NEW HOSPITALS ST 1.777 2/26/2047 GBP 60.64
NOMURA BANK INTL 0.800 12/21/2020 EUR 66.16
OTE PLC 4.625 5/20/2016 EUR 59.41
OTE PLC 7.250 4/8/2014 EUR 68.08
OTE PLC 5.000 8/5/2013 EUR 73.54
PIRAEUS GRP FIN 4.000 9/17/2012 EUR 72.00
PRIVATBANK 5.799 2/9/2016 USD 57.99
ROYAL BK SCOTLND 2.375 11/2/2015 CHF 74.40
ROYAL BK SCOTLND 4.350 1/23/2017 EUR 74.23
ROYAL BK SCOTLND 4.700 7/3/2018 USD 66.00
ROYAL BK SCOTLND 2.300 11/26/2024 JPY 71.82
ROYAL BK SCOTLND 4.625 9/22/2021 EUR 63.16
SPIRIT ISSUER 5.472 12/28/2028 GBP 66.63
THOMAS COOK GR 7.750 6/22/2017 GBP 44.83
THOMAS COOK GR 6.750 6/22/2015 EUR 45.81
UNIQUE PUB FIN 5.659 6/30/2027 GBP 62.03
UNIQUE PUB FIN 7.395 3/28/2024 GBP 45.59
WESSEX WATER FIN 1.369 7/31/2057 GBP 34.73
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets. At first glance, this list may look
like the definitive compilation of stocks that are ideal to sell
short. Don't be fooled. Assets, for example, reported at
historical cost net of depreciation may understate the true value
of a firm's assets. A company may establish reserves on its
balance sheet for liabilities that may never materialize. The
prices at which equity securities trade in public market are
determined by more than a balance sheet solvency test.
A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com
Each Friday's edition of the TCR includes a review about a book
of interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/booksto order any title today.
*********
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., Frederick, Maryland
USA. Valerie U. Pascual, Marites O. Claro, Rousel Elaine T.
Fernandez, Joy A. Agravante, Ivy B. Magdadaro, Frauline S.
Abangan and Peter A. Chapman, Editors.
Copyright 2012. All rights reserved. ISSN 1529-2754.
This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.
The TCR Europe subscription rate is US$625 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 240/629-3300.
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