TCREUR_Public/170102.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 2, 2017, Vol. 18, No. 001


                            Headlines


B E L G I U M

DEXIA SA: Egan-Jones Withdraws BB+ Sr. Unsecured Ratings


C Y P R U S

BROKERCREDITSERVICE: S&P Assigns 'B/B' Counterparty Ratings


F I N L A N D

NORDIC PACKAGING: S&P Assigns 'B' CCR, Outlook Stable


G R E E C E

GREECE: FinMin Letter to Creditors on Bailout Leaked to Press


I R E L A N D

ALLIED IRISH: Egan-Jones Withdraws BB- LC Sr. Unsecured Ratings
CADOGAN SQUARE VIII: Moody's Rates EUR12.6MM Class F Notes B2(sf)


I T A L Y

BANCA CARIGE: Moody's Assigns B3 Deposits Rating to Bonds
DIAPHORA1 FUND: February 15 Bid Submission Deadline Set
MONTE DEI PASCHI: Plans to Issue EUR15-Bil. Debt This Year


K A Z A K H S T A N

TENGRI BANK: S&P Affirms 'B+/B' Counterparty Credit Ratings


L U X E M B O U R G

BRAAS MONIER: S&P Puts 'BB-/B' CCRs on CreditWatch Positive
INTELSAT LUXEMBOURG: S&P Lowers Ratings on Senior Notes to 'D'


N E T H E R L A N D S

CLONDALKIN INDUSTRIES: S&P Puts 'B' CCR on CreditWatch Developing
IHS NETHERLANDS: S&P Assigns 'B+' CCR & Rates $800MM Bonds 'B+'


P O R T U G A L

BANCO ESPIRITO: Egan-Jones Withdraws D Sr. Unsecured Debt Ratings


R U S S I A

PERESVET BANK: S&P Cuts Rating on Bonds to 'D' Following Default


S P A I N

UFINET TELECOM: S&P Affirms 'B' CCR After Debt Increase


S W E D E N

STENA AB: Egan-Jones Withdraws 'B' Sr. Unsecured Debt Ratings


U K R A I N E

BANK TRUST: Deposit Fund Revokes License, Starts Liquidation
KSG BANK: SBU Raids Offices in UAH386MM Embezzlement Probe


U N I T E D   K I N G D O M

REDTOP ACQUISITIONS: S&P Affirms 'B' CCR; Outlook Stable
TRAVELEX HOLDINGS: S&P Affirms 'B-' CCR & Revises Outlook to Neg.


X X X X X X X X

* BOND PRICING: For the Week December 26 to December 30, 2016


                            *********


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B E L G I U M
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DEXIA SA: Egan-Jones Withdraws BB+ Sr. Unsecured Ratings
--------------------------------------------------------
Egan-Jones Ratings, on Dec. 28, 2016, withdrew the BB+ senior
unsecured ratings on debt issued by Dexia SA.

Based in Brussels, Belgium, Dexia SA is a financial services
holding company. The Company, through its subsidiaries, offers
consumer loans, life and non-life insurance, pension plans,
securities brokerage services, asset management, private banking,
and financing of public service facilities and financial services
for local governments. Dexia operates in Europe, Asia, and the
United States.



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C Y P R U S
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BROKERCREDITSERVICE: S&P Assigns 'B/B' Counterparty Ratings
-----------------------------------------------------------
S&P Global Ratings assigned its 'B/B' long- and short-term foreign
and local currency counterparty credit ratings to Cyprus-based
BrokerCreditService Structured Products PLC (BCS Structured
Products).  The outlook is positive.

S&P considers BCS Structured Products to be a core subsidiary of
FG BCS Ltd., the holding company of the FG BCS group, a large
Russia-related securities company with primary operating entities
in Russia, Cyprus, and the U.K.  S&P consequently equalizes its
ratings on BCS Structured Products with our assessment of the
group credit profile for the FG BCS group.

BCS Structured Products is a Cyprus-registered, unregulated
subsidiary of FG BCS Ltd., and the FG BCS group uses it as a
booking entity for structured products.  Formerly named Gawling
Company Ltd., BCS Structured Products started specializing in
structures products in 2014.  With EUR806 million in assets as of
June 30, 2016, it currently has one of the largest operational
balance sheets within FG BCS Ltd.

Currently, BCS Structured Products deals predominantly in
leveraged first-to-default notes and equity-linked notes
(predominantly with exotic options introduced to the client),
mirroring underlying assets on the balance sheet and hedging with
derivatives.  S&P understands that the group aims to shift BCS
Structured Products' focus to low-leverage equity participation
notes sold via partner distribution channels to high-net-worth
individuals.  The company lists around 10% of its products with
the Moscow and Ireland stock exchanges, and aims to increase the
share of listed instruments to 30% in 2019.  S&P believes that the
key risk the company currently faces is model risk, because
liabilities are essentially matched with assets and the liquidity
of underlying assets is generally high.

S&P understands that BCS Structured Products is a booking entity
rather than a full-scale subsidiary.  Its capitalization is
commensurate with that of the group, with S&P's risk-adjusted
capital (RAC) ratio (S&P Global Ratings' measure of capital
adequacy) at year-end 2015 at about 12.2% for BCS Structured
Products, versus 10.8% for the group.  S&P expects these ratios
will remain similar in the next few years.  The company represents
around 27% of the group's total adjusted capital, and its business
line represents about 30% of the group's retail revenues and
approximately 15% total group revenues.

The positive outlook on BCS Structured Products mirrors S&P's view
of the group credit profile and reflects S&P's opinion of
stabilization of the group's funding profile, with increased
reliance on stable funding sources.

S&P may take a positive rating action on BCS Structured Products
in the next 12-18 months if S&P sees that the group's reliance on
stable funding is sustainable in the long run.  Moreover, if S&P
sees further consistent improvement in profitability, supported by
strong capitalization with a RAC ratio above 10%, S&P may upgrade
the company.  If these factors occur, the possible ensuing upgrade
would likely be linked to improvement of operational conditions in
Russia, including the introduction of a more robust and credible
regulatory regime.

S&P may take a negative rating action on BCS Structured Products
if S&P sees that the group's capitalization is insufficient to
absorb potential losses, with the adjusted RAC ratio for the group
declining to less than 5%, possibly resulting from an increased
proprietary risk appetite or heightened risks in Russia or other
countries.  Diminished market confidence in the group or the
creation of barriers for liquidity transfers between group
entities may also prompt a negative rating action.



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F I N L A N D
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NORDIC PACKAGING: S&P Assigns 'B' CCR, Outlook Stable
-----------------------------------------------------
S&P Global Ratings said it has assigned its 'B' long-term
corporate credit rating to Finland-based Nordic Packaging And
Container (Finland) Holdings Oy (the issuer) and to the parent of
the consolidated group, Nordic Packaging And Container (UK)
Intermediate Holdings Ltd. (NPCH).  The outlook on both of these
entities is stable.

At the same time, S&P assigned its 'B' issue-level rating and '3'
recovery rating to the issuer's secured first-lien bank facility
and S&P's 'CCC+' issue-level rating and '6' recovery rating to its
secured second-lien bank facility.  The '3' recovery rating
indicates S&P's expectation for meaningful recovery (50%-70%;
lower end of the range) for lenders in the event of a payment
default, while the '6' recovery rating indicates S&P's expectation
for negligible recovery (0%-10%) in the event of a payment
default.

The final ratings are in line with the preliminary ratings that
S&P assigned on Oct. 25, 2016, following the successful closing of
the acquisition in line with S&P's assumptions.

Nordic Packaging And Container (Finland) Holdings Oy is the
acquisition entity for Powerflute, acquired by funds affiliated
with financial sponsor Madison Dearborn Partners Group.

Powerflute is a paper and packaging company that operates in the
paper and packaging market and coreboard markets through the
holdings of its parent, NPCH.  Annual sales for the consolidated
group were about EUR360 million in 2015.  The company's packaging
paper segment (40% of sales, 52% of EBITDA), trading under the
Powerflute brand, is one of the only three producers of premium-
grade Nordic semi-chemical fluting, manufactured from birch wood
and used in the manufacture of corrugated board for food and
agricultural products and other end markets that require high
strength and moisture resistance.  The company's coreboard and
cores business (60% of sales, 48% of EBITDA), trading under the
name Corenso, is a manufacturer of high performance coreboard and
cores used for paper, textiles, metals, foils and films, and tapes
and labels.  Coreboard, manufactured primarily from recycled
paper, is ultimately converted into cores or used for other
packaging applications.

Although the company has a niche market position in the highly
consolidated Nordic semi-chemical fluting market and retains a
good degree of geographical and end-market diversity, its overall
scale and scope is limited compared to its peers.  It has high
asset and customer concentration, with a single paper mill in
Finland for its packaging paper business, and limited pricing
power.  The coreboard and cores operations are a bit more
diversified but the market is somewhat more fragmented, especially
in Europe.

Significant initial plant investments restrict new entrants in the
packaging paper business, whereas the coreboard and cores segment
is more competitive and commoditized in nature.  Powerflute
maintains longstanding customer relationships with its blue-chip
paper and packaging companies for both its businesses, deriving
almost 30% of its sales from the top 10 customers.  Customer
concentration and a fragmented market structure provide customers
with strong bargaining power, especially in the coreboard
business, but the semi-chemical fluting business manages to gain
some pricing differential given its premium product offering.
Powerflute manages its birch supply from its captive wood sourcing
subsidiary Harvestia, which indirectly manages forest harvests in
Finland, although the group does not benefit from any direct or
indirect ownership of the wood.  In addition, although the company
is vertically integrated into coreboard production and core
converting, it externally sources recycled-content product, one of
the key raw material inputs used in coreboard production, leading
the company to be fully exposed to volatile input costs.

S&P's view of NPCH's highly leveraged financial risk profile
reflects its high adjusted leverage of around 5x debt to EBITDA
and funds from operations (FFO) to debt of about 12% at
transaction close.  S&P's base case does not anticipate any
significant deleveraging.  S&P forecasts steady earnings growth
over the next 12 months but nevertheless expect credit metrics to
remain in the highly leveraged range, albeit at the stronger end.
S&P anticipates that the company will continue to generate
moderate free cash flow and maintain adequate liquidity while
balancing its growth objectives.

In S&P's base case, it assumes:

   -- Organic sales that are broadly flat for the next two years
      with some pricing pressure in packaging papers and a
      challenging macroeconomic environment;

   -- An adjusted EBITDA margin of about 15.5%;

   -- Capital expenditures (capex) of about EUR12 million to
      EUR15 million annually; and

   -- No acquisitions and dividends forecast.

Based on these assumptions, S&P arrives at these credit measures:

   -- S&P Global Ratings-adjusted debt to EBITDA of around 5x for
      2016, with the potential for some gradual improvement
      thereafter; and

   -- FFO to adjusted debt of about 12% over the next 12-18
      months.

The stable outlook on NPCH reflects S&P's expectation that the
company will experience fairly predictable business conditions and
generate stable cash flow over the next 12 months, based on its
strong customer relationships and stable end markets.  S&P expects
NPCH to maintain adjusted debt to EBITDA of about 5x and FFO to
debt of about 12% over the next 12 months.

S&P could raise the ratings if the company showed a higher-than-
expected improvement in profitability, leading to stronger credit
metrics in line with levels S&P views as commensurate with an
aggressive financial risk profile over a sustained period.
Specifically, this would include a ratio of adjusted FFO to debt
of more than 15% and debt to EBITDA of less than 4.5x, on a
sustained basis, supported by the private equity owners committing
to a financial policy commensurate with these metrics.

S&P could lower the ratings if the company's liquidity position
deteriorates or if earnings and cash flow decline unexpectedly
because of weaker demand for its products.  S&P could also lower
the ratings if financial policy decisions weaken its financial
profile or cause financial metrics to deviate from S&P's
expectations.

A downgrade could also stem from a significant shortfall in
operating performance compared with S&P's base case.  This could
occur as a result of loss of key customers, prolonged plant
closures, or challenging macroeconomic conditions, such that
earnings and cash flow generation lead to weaker liquidity or FFO
cash interest coverage falling below 1.5x.



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G R E E C E
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GREECE: FinMin Letter to Creditors on Bailout Leaked to Press
-------------------------------------------------------------
Philip Chrysopoulos at Greek Reporter reports that a letter from
Greek Finance Minister Euclid Tsakalotos to creditors reaffirming
Athens' commitment to the bailout program obligations has been
leaked to the press.

Greece's lenders had asked from Mr. Tsakalotos to send a letter of
commitment to reassure that the Greek government will not proceed
with any kind of fiscal measures without consulting with them
first, Greek Reporter relates.  The issue is the result of the
Greek government's unilateral decision to give a Christmas bonus
to low-income pensioners and suspend for one year VAT increase for
certain Aegean islands, Greek Reporter notes.

According to Greek Reporter, the Greek government's move annoyed
creditors to the point that they temporarily froze debt relief
measures that were decided in the December 5 meeting of euro zone
finance ministers.

Athens had asked creditors for clarifications regarding the
content of the letter, Greek Reporter relays.  The letter became a
controversial issue as the government refused to publicize its
content, Greek Reporter says.  Opposition parties accused the
SYRIZA-ANEL coalition for avoiding publication of the letter's
content because it might include further binding measures, Greek
Reporter states.

The letter leaked to the press on Dec. 27, Greek Reporter
recounts.



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I R E L A N D
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ALLIED IRISH: Egan-Jones Withdraws BB- LC Sr. Unsecured Ratings
---------------------------------------------------------------
Egan-Jones Ratings, on Dec. 27, 2016, withdrew the BB- local
currency senior unsecured ratings on debt issued by Allied Irish
Banks PLC.  EJR also withdrew the B commercial paper ratings on
the Company.

Allied Irish Banks plc (AIB) attracts deposits and offers
commercial banking services. The Bank offers mortgage, automobile,
business, plant and equipment purchase, and lease financing loans,
investment banking, securities brokerage, asset management and
treasury services, and discounts invoices. AIB operates in
Ireland, the United Kingdom, and the United States.


CADOGAN SQUARE VIII: Moody's Rates EUR12.6MM Class F Notes B2(sf)
-----------------------------------------------------------------
Moody's assigns definitive ratings to eight classes of notes
issued by Cadogan Square CLO VIII D.A.C.:

EUR248,400,000 Class A-1 Senior Secured Floating Rate Notes due
2030, Definitive Rating Assigned Aaa (sf)

EUR23,000,000 Class A-2 Senior Secured Fixed Rate Notes due 2030,
Definitive Rating Assigned Aaa (sf)

EUR54,800,000 Class B-1 Senior Secured Floating Rate Notes due
2030, Definitive Rating Assigned Aa2 (sf)

EUR5,000,000 Class B-2 Senior Secured Fixed Rate Notes due 2030,
Definitive Rating Assigned Aa2 (sf)

EUR27,830,000 Class C Senior Secured Deferrable Floating Rate
Notes due 2030, Definitive Rating Assigned A2 (sf)

EUR21,020,000 Class D Senior Secured Deferrable Floating Rate
Notes due 2030, Definitive Rating Assigned Baa2 (sf)

EUR32,340,000 Class E Senior Secured Deferrable Floating Rate
Notes due 2030, Definitive Rating Assigned Ba2 (sf)

EUR12,650,000 Class F Senior Secured Deferrable Floating Rate
Notes due 2030, Definitive Rating Assigned B2 (sf)

RATINGS RATIONALE

Moody's definitive rating of the rated notes addresses the
expected loss posed to noteholders by the legal final maturity of
the notes in 2030. The definitive ratings reflect the risks due to
defaults on the underlying portfolio of loans given the
characteristics and eligibility criteria of the constituent
assets, the relevant portfolio tests and covenants as well as the
transaction's capital and legal structure. Furthermore, Moody's is
of the opinion that the collateral manager, Credit Suisse Asset
Management Limited ("CSAM"), has sufficient experience and
operational capacity and is capable of managing this CLO.

Cadogan Square CLO VIII D.A.C. is a managed cash flow CLO with a
target portfolio made up of EUR460,000,000 equivalent par value of
mainly European corporate leveraged loans. At least 96% of the
portfolio must consist of senior secured loans or senior secured
bonds, and up to 4% of the portfolio may consist of second-lien
loans, unsecured loans, mezzanine obligations and high yield
bonds. The portfolio may also consist of up to 12.5% of fixed rate
obligations and between 0% and 5% of principal hedged assets and
unhedged assets denominated in U.S. Dollars, Sterling, Swiss
Francs, Swedish Krona, Norwegian Krone or Danish Krone. The
portfolio is expected to be around 90% ramped up as of the closing
date and to be comprised predominantly of corporate loans to
obligors domiciled in Western Europe. The remainder of the
portfolio will be acquired during the six month ramp-up period in
compliance with the portfolio guidelines.

CSAM will manage the CLO. It will direct the selection,
acquisition and disposition of collateral on behalf of the Issuer
and may engage in trading activity, including discretionary
trading, during the transaction's four-year reinvestment period.
Thereafter, collateral purchases are permitted using principal
proceeds from unscheduled principal payments and proceeds from
sales of credit risk/improved obligations, and are subject to
certain restrictions.

In addition to the eight classes of notes rated by Moody's, the
Issuer issued EUR54.10m of subordinated notes, which will not be
rated.

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

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

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

Loss and Cash Flow Analysis:

Moody's modelled the transaction using its European Cash Flow
Model, a cash flow model based on the Binomial Expansion
Technique, as described in Section 2.3 of the "Moody's Global
Approach to Rating Collateralized Loan Obligations" rating
methodology published in October 2016. The cash flow model
evaluates all default scenarios that are then weighted considering
the probabilities of the binomial distribution assumed for the
portfolio default rate. In each default scenario, the
corresponding loss for each class of notes is calculated given the
incoming cash flows from the assets and the outgoing payments to
third parties and noteholders. Therefore, the expected loss or EL
for each tranche is the sum product of (i) the probability of
occurrence of each default scenario and (ii) the loss derived from
the cash flow model in each default scenario for each tranche. As
such, Moody's encompasses the assessment of stressed scenarios.

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

Par amount: EUR460,000,000

Diversity Score: 44

Weighted Average Rating Factor (WARF): 2850

Weighted Average Spread (WAS): 4.2%

Weighted Average Coupon (WAC): 6.0%

Weighted Average Recovery Rate (WARR): 41%

Weighted Average Life (WAL): 8 years.

Stress Scenarios:

Together with the set of modelling assumptions above, Moody's
conducted additional sensitivity analysis, which was an important
component in determining the definitive rating assigned to the
rated notes. This sensitivity analysis includes increased default
probability relative to the base case. Below is a summary of the
impact of an increase in default probability (expressed in terms
of WARF level) on each of the rated notes (shown in terms of the
number of notch difference versus the current model output,
whereby a negative difference corresponds to higher expected
losses), holding all other factors equal:

Percentage Change in WARF: WARF + 15% (to 3278 from 2850)

Ratings Impact in Rating Notches:

Class A-1 Senior Secured Floating Rate Notes: 0

Class A-2 Senior Secured Fixed Rate Notes: 0

Class B-1 Senior Secured Floating Rate Notes: -1

Class B-2 Senior Secured Fixed Rate Notes: -1

Class C Senior Secured Deferrable Floating Rate Notes: -2

Class D Senior Secured Deferrable Floating Rate Notes: -2

Class E Senior Secured Deferrable Floating Rate Notes: -1

Class F Senior Secured Deferrable Floating Rate Notes: -2

Percentage Change in WARF: WARF +30% (to 3705 from 2850)

Ratings Impact in Rating Notches:

Class A-1 Senior Secured Floating Rate Notes: -1

Class A-2 Senior Secured Fixed Rate Notes: -1

Class B-1 Senior Secured Floating Rate Notes: -3

Class B-2 Senior Secured Fixed Rate Notes: -3

Class C Senior Secured Deferrable Floating Rate Notes: -4

Class D Senior Secured Deferrable Floating Rate Notes: -3

Class E Senior Secured Deferrable Floating Rate Notes: -2

Class F Senior Secured Deferrable Floating Rate Notes: -2



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I T A L Y
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BANCA CARIGE: Moody's Assigns B3 Deposits Rating to Bonds
---------------------------------------------------------
Moody's Investors Service has assigned a definitive A3 long-term
rating to the mortgage covered bonds issued by Banca Carige S.p.A
("Carige" the issuer, deposits B3; adjusted baseline credit
assessment caa3; counterparty risk (CR) assessment B3(cr)) which
are governed by the Italian Covered Bond law.

RATINGS RATIONALE

A covered bond benefits from (1) the issuer's promise to pay
interest and principal on the bonds; and (2) following a CB anchor
event, the economic benefit of a collateral pool (the cover pool).
The ratings therefore reflect the following factors:

(1) The credit strength of Carige (deposits B3; adjusted baseline
credit assessment caa3; CR assessment B3(cr)) and a CB anchor of
CR assessment plus 1 notch.

(2) Following a CB anchor event the value of the cover pool. The
stressed level of losses on the cover pool assets following a CB
anchor event (cover pool losses) for this transaction is 15.3%.

Moody's considered the following factors in its analysis of the
cover pool's value:

a) The credit quality of the assets backing the covered bonds. The
mortgage covered bonds are backed by Italian residential mortgage
loans. The collateral score for the cover pool is 7.5%.

b) The legal framework/structure of the programme. In particular,
the conditional pass-through nature significantly reduces the
covered bonds' default probability in case the issuer ceases to
make payments to covered bond holders.

c) The exposure to market risk, which is 10.3% for this cover
pool.

d) The over-collateralisation (OC) in the cover pool is 45%, of
which Carige provides 20.5% on a "committed" basis (see Key Rating
Assumptions/Factors, below).

The Timely Payment Indicator (TPI) assigned to this transaction is
"Very High". Moody's TPI framework does constrain the rating at
its current level.

At present, the total value of the assets included in the cover
pool is approximately EUR 137.7 million, comprising only
residential mortgage loans. The residential mortgage loans have a
weighted-average (WA) seasoning of 46 months and a WA loan-to-
value (LTV) ratio of 52%.

The rating that Moody's has assigned addresses the expected loss
posed to investors. Moody's ratings address only the credit risks
associated with the transaction. Moody's did not address other
non-credit risks, but these may have a significant effect on yield
to investors.

KEY RATING ASSUMPTIONS/FACTORS

Moody's determines covered bond ratings using a two-step process:
an expected loss analysis and a TPI framework analysis.

EXPECTED LOSS: Moody's uses its Covered Bond Model (COBOL) to
determine a rating based on the expected loss on the bond. COBOL
determines expected loss as (1) a function of the probability that
the issuer will cease making payments under the covered bonds (a
CB anchor event); and (2) the stressed losses on the cover pool
assets following a CB anchor event.

The CB anchor for this programme is CR assessment plus 1 notch.
The CR assessment reflects an issuer's ability to avoid defaulting
on certain senior bank operating obligations and contractual
commitments, including covered bonds. Moody's may use a CB anchor
of CR assessment plus one notch in the European Union or otherwise
where an operational resolution regime is particularly likely to
ensure continuity of covered bond payments.

The cover pool losses for this programme are 15.3%. This is an
estimate of the losses Moody's currently models following a CB
anchor event. Moody's splits cover pool losses between market risk
of 10.3% and collateral risk of 5%. Market risk measures losses
stemming from refinancing risk and risks related to interest-rate
and currency mismatches (these losses may also include certain
legal risks). Collateral risk measures losses resulting directly
from cover pool assets' credit quality. Moody's derives collateral
risk from the collateral score, which for this programme is
currently 7.5%.

The over-collateralisation in the cover pool is 45%, of which
Carige provides 20.5% on a "committed" basis. The minimum OC level
consistent with the A3 rating is 9.5% (numbers in nominal value
terms). These numbers show that Moody's is not relying on
"uncommitted" OC in its expected loss analysis.

All numbers in this section are based on Moody's most recent
modelling based on data, as per 30 June 2016.

TPI FRAMEWORK: Moody's assigns a "timely payment indicator" (TPI),
which measures the likelihood of timely payments to covered
bondholders following a CB anchor event. The TPI framework limits
the covered bond rating to a certain number of notches above the
CB anchor.

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

The CB anchor is the main determinant of a covered bond
programme's rating robustness. A change in the level of the CB
anchor could lead to an upgrade or downgrade of the covered bonds.
The TPI Leeway measures the number of notches by which Moody's
might lower the CB anchor before the rating agency downgrades the
covered bonds because of TPI framework constraints.

The TPI assigned to this is Very High. The TPI Leeway for this
programme is limited, and thus any reduction of the CB anchor may
lead to a downgrade of the covered bonds.

A multiple-notch downgrade of the covered bonds might occur in
certain circumstances, such as (1) a country ceiling or sovereign
downgrade capping a covered bond rating or negatively affecting
the CB Anchor and the TPI; (2) a multiple-notch downgrade of the
CB Anchor; or (3) a material reduction of the value of the cover
pool.


DIAPHORA1 FUND: February 15 Bid Submission Deadline Set
-------------------------------------------------------
Diaphora1 Fund, in liquidation, pursuant to Art. 57 TUF, put up
for sale the following properties:

Lot 1: wellness and fitness center, approximately 2,100 square
meters, spread on two levels, above the ground, including
basement, located in Via Bedollo no. 110, Rome (Infernetto area),
listed in the Buildings Registry of the Municipality of Rome,
sheet 1118 - parcel 1271 - sub-section 503, Category D/6, income
EUR26,556.

  Starting price EUR1,539,000, in addition to applicable tax

Lot 2: building plot, approximately 30,000 square meters, with
building area of 76,160 cubic meters, or approximately 23,800
cubic meters of residential surface area, located in Via delle
Cerquete, Rome (Lunghezza area), listed in the Land
Registry of the Municipality of Rome, sheet 666, parcels: 397,
wooded pasture, class 1, 04 ares, 80 centiares, A5 deduction,
farmland income EUR0.91; 398 arable land, class 3, 01 ares, 60
centiares, A5 deduction farmland EUR1.45, agricultural income
EUR0.62; 407, arable alnd, class 3, 03 hectares, 97 ares, 10
centiareas, A5 deduction, farmland income EUR359.31, agricultural
income EUR153.81;

  Starting price EUR14,580,000, in addition to applicable tax

Interested parties have until 12:00 a.m. on February 15, 2017, to
submit their bids to the office of Notary Federico Basile in Viale
Liegi no. 1, Rome.

The sale will be conducted at 12:00 a.m. on February 16, 2017, at
the Notary's office.

Further information and sale procedures is available at
http://www.liquidagest.it


MONTE DEI PASCHI: Plans to Issue EUR15-Bil. Debt This Year
----------------------------------------------------------
RTE reports that Italy's Banca Monte dei Paschi di Siena, which is
being bailed out by the state, plans to issue EUR15 billion of
debt this year to restore liquidity and boost investor confidence.

According to RTE, the debt sales would be supported by government
guarantees which form part of a liquidity scheme for banks in
need, which the European Commission has agreed to extend for six
months.

Under EU state aid rules, banks with a capital shortfall cannot
benefit from general liquidity support schemes, meaning the
Commission takes decisions on a case-by-case basis, as it did for
Monte dei Paschi, RTE states.

Monte dei Paschi will issue the debt in the form of bonds and
commercial paper, RTE relays, citing daily La Repubblica.  It said
that a third of that debt would have a short-term maturity date,
while the rest would mature in three years, RTE notes.

Banca Monte dei Paschi di Siena SpA -- http://www.mps.it/-- is an
Italy-based company engaged in the banking sector.  It provides
traditional banking services, asset management and private
banking, including life insurance, pension funds and investment
trusts.  In addition, it offers investment banking, including
project finance, merchant banking and financial advisory services.
The Company comprises more than 3,000 branches, and a structure of
channels of distribution.  Banca Monte dei Paschi di Siena Group
has subsidiaries located throughout Italy, Europe, America, Asia
and North Africa.  It has numerous subsidiaries, including Mps Sim
SpA, MPS Capital Services Banca per le Imprese SpA, MPS Banca
Personale SpA, Banca Toscana SpA, Monte Paschi Ireland Ltd. and
Banca MP Belgio SpA.



===================
K A Z A K H S T A N
===================


TENGRI BANK: S&P Affirms 'B+/B' Counterparty Credit Ratings
-----------------------------------------------------------
S&P Global Ratings affirmed its 'B+' long-term and 'B' short-term
counterparty credit ratings on Kazakhstan-based Tengri Bank.  The
outlook remains negative.

At the same time, S&P affirmed its 'kzBBB-' Kazakhstan national
scale rating on the bank.

S&P has observed a change in the bank's balance sheet during 2016
as it pursues growth, aided by a diversification of its funding
base away from interbank deposits and shareholders' equity.
Overall, S&P believes these changes are neutral for the Tengri
Bank's credit profile.  In particular, while this development
signals a further reduction in the bank's capitalization as it
moves toward a more leveraged business model, it also indicates
that Tengri Bank is in a positive transition to improving its
funding base.  Additionally, S&P still factors one positive notch
into its ratings for the potential extraordinary support to come
from India-based Punjab National Bank (PNB), which owns 49% of
Tengri Bank's authorized capital.

Tengri Bank is small Kazakh bank, which since the end of 2015 is
in a strong growth phase under the control of long-term
shareholder PNB and its majority local owners.  While the bank is
expanding, the management is focused mainly on improving the
bank's business and competitive positions, as well as the
formation of stable client and funding bases.  Besides dilution of
capitalization, the aggressive growth strategy planned for the
next 12-18 months amid such an unsupportive economic backdrop
might put additional pressure on Tengri Bank's credit profile,
especially given that a large part of the loan portfolio has long
terms and debt bullet repayments at maturity.  High exposure to
foreign currency lending adds further uncertainty to the
performance of the bank's unseasoned loans.

S&P revised down its assessment of the bank's capital and earnings
to strong from very strong owing to S&P's view that asset growth
will outpace shareholder capital injections.  S&P's risk-adjusted
capital (RAC) ratio for the bank stood at 16.7% as of Oct. 31,
2016, and S&P expects it to decline through the next 12-18 months,
but to stabilize in the 10%-15% range, helped by increasing the
amount of authorized capital by approximately 35% in 2017.  S&P's
base-case projection also assumes around 165% loan book growth in
2016 and 45% in 2017.  Additionally, S&P expects that, over the
next 12-18 months, the bank's profitability growth will be
somewhat undermined by a weakening interest margin.

The reduced interest margin is the negative side of the reinforced
funding position that could bring the bank's funding base in line
with the system average.  In particular, during 2016, the bank
managed to build its liabilities in terms of volumes as total
deposits increased approximately 3.4x.  While the bank's deposit
base still remains concentrated, S&P believe, its overall
liability structure is developing in favor of greater stability:

   -- During the first 10 months of 2016 the share of interbank
      borrowings decreased to 15% of total liabilities from 48%,
      and S&P don't expect it to be higher than 20% over the next
      12-18 months.  S&P considers the change as beneficial,
      since S&P regards deposits as a less confidence-sensitive
      funding source;

   -- The share of term deposits increased to 87% of total
      deposits as of Sept. 30, 2016, from 36% at the beginning of
      the year; and

   -- Deposits denominated in foreign currency decreased to 41%
      of total customer accounts as of Nov. 1, 2016 (in line with
      the sector average), compared with 80% at the beginning of
      the year.  The diminishing ratio makes it easier to manage
      foreign currency risk and supports business stability in
      S&P's view.

As a result of these factors, S&P revised its assessment of Tengri
Bank's stand-alone credit profile (SACP) to 'b-' from 'b' to
reflect the weakening in capitalization.  Moreover, although S&P
has not yet revised its funding assessment from below average, S&P
expects an improvement in funding and add one notch of uplift from
the SACP to S&P's long-term rating on Tengri Bank to reflect S&P's
view that the bank is in a positive transition.  Before S&P
revises the funding assessment upward (and remove the transition
notch), S&P wants to see that these changes are sustainable.

S&P continues to regard Tengri as a moderately strategic
subsidiary of PNB.  This results in a one-notch uplift to the
issuer credit rating to account for possible future extraordinary
parental support.  In the past year, governance changes, a
rebranding, and dilution of PNB's shareholding have led S&P to
review this group status.  S&P's unchanged assessment assumes that
PNB would contribute to the anticipated capital injection in 2017
and remain a supportive and actively involved shareholder of
Tengri Bank, as well as that Tengri Bank's development will be
consistent with group-level aims to expand India-related business.

The negative outlook on Tengri Bank reflects S&P's expectation
that negative trends in the Kazakh economy and banking sector will
persist in 2017 and may put pressure on the bank's capital and
asset quality over the next 12-18 months.

S&P could lower its ratings over the next 12-18 months if the
economic slowdown and increased banking industry risks appear
likely to have an adverse effect on Tengri Bank's
creditworthiness.  S&P could also lower the ratings if it sees
signs that the forecast RAC ratio will be lower than 10% over the
next 12-18 months.  Lastly, a negative rating action could follow
if S&P sees reduced likelihood for parental support, for example
if it observes that PNB's participation is more restrained
participation in the management and supervision of Tengri Bank or
there is a dilution of its current stake in Tengri Bank.

S&P would consider revising the outlook on Tengri Bank to stable
over the next 12-18 months if S&P sees that the bank is able to
manage high growth on the back of adverse market conditions with a
very limited risk that the bank's RAC ratio would fall below 10%
over the next 12-18 months.  A revision would also be supported by
further evidence that PNB will remain an active and committed
shareholder.



===================
L U X E M B O U R G
===================


BRAAS MONIER: S&P Puts 'BB-/B' CCRs on CreditWatch Positive
-----------------------------------------------------------
S&P Global Ratings said that it placed on CreditWatch with
positive implications its 'BB-/B' long- and short-term corporate
credit ratings on Luxembourg-based roofing products manufacturer
Braas Monier Building Group S.A.

At the same time, S&P placed its 'BB-' issue ratings on Braas
Monier's EUR200 million RCF and EUR435 million notes on
CreditWatch with positive implications.  These facilities were
issued by Braas Monier Building Group Holding S.a r.l., and BMBG
Bond Finance S.C.A., respectively, both subsidiaries of Braas
Monier Building Group S.A.

The CreditWatch listing follows the announcement that Standard
Industries Inc. (BBB-/Watch Neg/--) plans to acquire Braas Monier.

If Standard Industries completes the proposed acquisition of Braas
Monier, there is a possibility that S&P could raise the ratings on
Braas Monier to the level of that on Standard Industries.  This
would depend on, among other things, the level of integration of
Braas Monier within Standard Industries group, whether Braas
Monier's existing debt facilities are kept in place or
repaid/refinanced, and the overall strategy that Standard
Industries decides to follow with regard to Braas Monier's
operations, balance sheet, and cash flows.

S&P will seek to meet with Braas Monier's management in the coming
weeks to gain clarity on these issues, to ascertain the impact of
the proposed acquisition on the company's credit profile.

S&P plans to resolve the CreditWatch once the proposed transaction
is completed, and once S&P assess Braas Monier's status within the
combined group.  Upon resolution of the CreditWatch, S&P could
raise its ratings on Braas Monier by one or multiple notches if
the acquisition goes ahead.  S&P will likely affirm the ratings if
the transaction does not proceed.


INTELSAT LUXEMBOURG: S&P Lowers Ratings on Senior Notes to 'D'
--------------------------------------------------------------
S&P Global Ratings said that it lowered its issue-level ratings on
Luxembourg-based fixed satellite service provider Intelsat
(Luxembourg) S.A.'s 6.75% senior notes due 2018, 7.75% senior
notes due 2021, and 8.125% senior notes due 2023 to 'D' from 'CC'.
The rating revision follows the company's announcement that it has
repurchased a portion of these notes at a material discount to
par.  These issues were subject to the company's previously
announced tender offers, which were funded through a combination
of new Intelsat Connect Finance S.A's 12.5% senior notes due 2022
and cash on hand.

The corporate credit rating on Intelsat remains 'SD'.  S&P plans
to raise the corporate credit rating on Intelsat from 'SD' as soon
as possible, mostly likely after the restructuring at Luxembourg
is completed.  At that time, S&P will raise the corporate rating
to a level that will reflect the ongoing risk of a conventional
default, incorporating the company's liquidity, challenging
operating environment, and high leverage post its restructuring
initiatives.

RATINGS LIST

Intelsat S.A.
Corporate Credit Rating              SD/--

Downgraded; Recovery Rating Unchanged

Intelsat (Luxembourg) S.A.
                                      To        From
Senior Unsecured                     D         CC
  Recovery Rating                     6         6



=====================
N E T H E R L A N D S
=====================


CLONDALKIN INDUSTRIES: S&P Puts 'B' CCR on CreditWatch Developing
-----------------------------------------------------------------
S&P Global Ratings said that it has placed its 'B' long-term
corporate credit rating on Netherlands-based flexible packaging
group Clondalkin Industries B.V. on CreditWatch with developing
implications.  At the same time, S&P withdrew the issue and
recovery ratings on the company's senior secured debt, which has
been redeemed.

The CreditWatch placement follows the announcement that
Netherlands-based private equity firm Egeria has completed the
acquisition of Clondalkin.  At this stage, the details of the
transaction have not been disclosed; S&P expects to have analyzed
the new capital structure within the first quarter of 2017, at
which time S&P would resolve the CreditWatch placement.

The outcome of the CreditWatch placement will depend on the
resulting capital structure under the new shareholder.

S&P has withdrawn its issue and recovery ratings on the debt that
the group has now redeemed following the transaction.

The CreditWatch placement with developing implications reflects
that S&P could consider a change in ratings in either direction
depending on S&P's analysis of the new capital structure once the
financing details are disclosed.

S&P could affirm the 'B' rating and assign a stable outlook if
Clondalkin's resulting leverage metrics were consistent with the
upper end of the highly leveraged financial risk profile, such as
funds from operations (FFO) to debt above 6% and cash interest
coverage remaining strong at over 2x.

Although S&P sees it as less likely at this stage, it could also
raise the rating to 'B+' if S&P assessed the new capital structure
as having an aggressive financial risk profile.  In that case, S&P
would typically anticipate debt to EBITDA materially under 5.0x
and FFO to debt over 12%, with a financial policy that supported
such credit metrics on a sustained basis.

S&P could lower the rating to 'B-' if the post-acquisition capital
structure does not demonstrate stronger credit metrics than
Clondalkin displayed in 2016.  Such credit metrics could include
FFO to debt of below 6% and FFO cash interest coverage of below
2x.  S&P could also lower the rating if there was pressure on the
group's liquidity.


IHS NETHERLANDS: S&P Assigns 'B+' CCR & Rates $800MM Bonds 'B+'
---------------------------------------------------------------
S&P Global Ratings said that it has assigned its 'B+' long-term
corporate credit rating to Dutch incorporated mobile tower company
IHS Netherlands Holdco B.V.  The outlook is stable.

S&P also assigned its 'B+' issue rating to IHS Netherlands'
$800 million bond.

At the same time, S&P is affirming all its ratings on IHS
Netherlands' subsidiaries (IHS Towers NG Ltd. and IHS Towers
Netherlands FinCo NG B.V.) and subsequently withdrawing them at
the company's request.

S&P's rating is supported by its assessment that IHS Netherlands
is a core subsidiary of IHS Holding, the largest independent
mobile tower infrastructure operator in Europe, the Middle East,
and Africa by tower count.  IHS Holding operates about 23,000
towers in Nigeria, Rwanda, Zambia, Cameroon, and Cote d'Ivoire.
The rating on IHS Netherlands also reflects our view of the
company's exposure to very high country risk in Nigeria and that
it will generate negative free operating cash flow (FOCF) in 2016-
2017, partly offset by robust operating margins and declining
leverage.  S&P also notes the company's leading market position
and sound growth opportunities in Nigeria.  S&P's base-case
assumptions for IHS Netherlands have not changed since it assigned
the preliminary rating on Sept. 26, 2016.

IHS Netherlands' exposure to very high country risk in Nigeria is
partly offset by its position as the leading Nigerian independent
tower operator, significant scope for growth in Nigeria, and good
revenue visibility with long-term lease agreements with
telecommunications operators that have strong credit quality.  In
addition, the contractual terms include frequent pricing resets to
adjust to the exchange rate, and indexation provisions, which
mitigate against foreign exchange volatility and high energy costs
(a large component of which is to ensure continued operations
where there is intermittent electricity supply).

S&P's assessment of IHS Netherlands' financial risk profile is
constrained by S&P's projection of negative FOCF in 2016 and 2017,
owing to large capital expenditures (capex) to support expansion.
However, due to the robust nature of IHS Netherlands' long-term
lease agreements, S&P anticipates that its FOCF prospects and
credit ratios will improve gradually.

The stable outlook on IHS Netherlands reflects S&P's anticipation
that the company's revenues and EBITDA will increase significantly
in 2017, despite continued negative FOCF.  Furthermore, the
outlook reflects our view that IHS Holding will maintain a
stronger credit profile than IHS Netherlands and an adequate
liquidity profile.  S&P also takes into account that its
assessment of the group's creditworthiness can be one notch higher
than S&P's rating on Nigeria.

Downside scenario

S&P could lower the rating on IHS Netherlands if S&P downgraded
Nigeria.  In addition, S&P could lower the rating if it no longer
considered that its assessment of the group's creditworthiness can
exceed the sovereign rating by one notch, which could result from
the group having lower cash reserves in hard currencies or
limitations in accessing external financing.  Furthermore, S&P
could lower the rating if IHS Holding's liquidity were less than
adequate or its leverage were higher than forecast in S&P's base
case.

Upside scenario

There is no rating upside, given S&P's sovereign rating on Nigeria
and its current T&C and country risk assessments.



===============
P O R T U G A L
===============


BANCO ESPIRITO: Egan-Jones Withdraws D Sr. Unsecured Debt Ratings
-----------------------------------------------------------------
Egan-Jones Ratings, on Dec. 27, 2016, withdrew the D senior
unsecured debt ratings on debt issued by Banco Espirito Santo SA.

Banco Espirito Santo, S.A. (BES) provides commercial and
investment banking services.



===========
R U S S I A
===========


PERESVET BANK: S&P Cuts Rating on Bonds to 'D' Following Default
----------------------------------------------------------------
S&P Global Ratings lowered its issue ratings on all bonds issued
by Russia-based JSCB Peresvet Bank to 'D' from 'CC'.  S&P also
lowered its Russia national scale issue ratings on the bonds to
'D' from 'ruCC'.

At the same time, S&P removed all the issue ratings on the bank's
bonds from CreditWatch with negative implications, where S&P
placed them on Oct. 24, 2016.

S&P affirmed its 'D' long-term counterparty credit and Russia
national scale ratings on the bank.

The Central Bank of Russia imposed temporary administration and a
six-month payment moratorium on Peresvet Bank on Oct. 22, 2016.
The bank's official disclosures state that as of Dec. 1, 2016, its
negative equity dropped to more than RUB35.1 billion (about US$542
million), indicating a major gap between the value of its
liabilities and assets.  Consequently, the bank failed to pay the
Dec. 21, 2016, coupons on its bonds, including the senior
unsecured bond we rate (ISIN: RU000A0JUP97) due June 22, 2017.

Given the bank's large deficiency of own funds to cover the gap in
asset-liability values on its balance sheet, S&P thinks the
possibility of any financial rehabilitation plan initiated by the
Russian regulators that would leave the bank's bondholders intact
is, in our opinion, extremely unlikely, and that a write-off of a
portion of the bonds' principal is highly probable.  S&P has
consequently lowered its ratings on all the bank's outstanding
rated bonds to 'D', reflecting our view that the regulator-imposed
payment moratorium on the bank is tantamount to a general default
on its obligations to creditors, versus S&P's previous view, at
the 'CC' rating level, of a virtual certainty of failure to pay on
those obligations.



=========
S P A I N
=========


UFINET TELECOM: S&P Affirms 'B' CCR After Debt Increase
-------------------------------------------------------
S&P Global Ratings said that it has affirmed its 'B' long-term
corporate credit rating on Spain-based provider of fiber
infrastructure Ufinet Telecom Holding SLU.  The outlook remains
stable.

At the same time, S&P Global Ratings reviewed its recovery and
issue-level ratings on Ufinet that were labeled as "under criteria
observation" (UCO) after publishing its revised recovery ratings
criteria on Dec. 7, 2016.  With S&P's criteria review complete, it
is removing the UCO designation from these ratings and affirming
our 'B' issue rating on Ufinet's senior secured debt.  S&P revised
the recovery rating to '3' from '4'.

The affirmation follows the additional EUR79 million senior
secured debt raised by Ufinet, which S&P thinks will be used to
finance mergers and acquisitions (M&A).  S&P has therefore revised
its assumptions to take into account the likelihood of additional
acquisitions.  S&P thinks that the group will continue to grow
organically in Spain, where volumes should continue offsetting
price pressure, and in Latin America, where demand for
infrastructure is high.  At the same time, S&P expects Ufinet will
close additional acquisitions in Latin America.  S&P thinks these
potential acquisitions may improve the group's business and
customer diversity.  Nevertheless, Ufinet may acquire assets
generating lower margins.  As a consequence, S&P included in its
base case a slight decrease in the EBITDA margin to 45%-50% in
2017, compared with 50%-52% expected by the end of 2016.

The overall assessment remains constrained by the group's highly
leveraged financial risk profile, with debt to EBITDA estimated to
moderately increase to 6.0x-6.5x, given that the potential
acquisitions will be partly financed with an add-on of
EUR79 million to the term loan B maturing in 2021.  However, S&P
expects Ufinet will continue generating positive free operating
cash flow (FOCF) and cash interest coverage of more than 3x.

The stable outlook on Ufinet reflects S&P's expectation that
increasing bandwidth demand from companies and telecom carriers,
as well as dark fiber demand and inorganic growth in Latin
America, will support solid revenue growth and a sound EBITDA
margin of 45%-50% over the next 12 months.  This should translate
into slightly positive FOCF, with FOCF to debt between 0% and 5%,
and adequate liquidity.

Downside scenario

S&P could consider lowering the long-term rating if increased
competition resulted in even lower prices for fiber-optic
services, leading to a substantial decline in EBITDA margins below
40%.  S&P would also lower its rating if FOCF turned significantly
negative, and liquidity came under pressure.

Upside scenario

S&P views an upgrade as unlikely as long as preferred shares are
treated as debt under its criteria.  However, a positive rating
action could occur if S&P continues to see revenue and EBITDA
growth and improving credit metrics, with the S&P Global Ratings'
adjusted debt-to-EBITDA ratio sustained at around 5.0x-5.5x,
combined with a cash interest coverage ratio remaining at more
than 3.0x and solid cash flow generation, with FOCF to debt
sustainably above 5%.



===========
S W E D E N
===========


STENA AB: Egan-Jones Withdraws 'B' Sr. Unsecured Debt Ratings
-------------------------------------------------------------
Egan-Jones Ratings, on Dec. 22, 2016, withdrew the B senior
unsecured ratings on debt issued by Stena AB.  EJR also withdrew
the C commercial paper ratings on the Company.

Stena AB engages in the ferry operations in Sweden and
internationally.



=============
U K R A I N E
=============


BANK TRUST: Deposit Fund Revokes License, Starts Liquidation
------------------------------------------------------------
Interfax-Ukraine, citing Individuals' Deposit Guarantee Fund,
reports that the National Bank of Ukraine on December 29 decided
to revoke the banking license and liquidate PJSC Bank Trust.

The fund started the procedure of bank liquidation, which will
last until December 29, 2018, Interfax-Ukraine relays, citing the
fund's data.

Temporary administrator of the bank Volodymyr Kukharev has been
appointed bank liquidator, Interfax-Ukraine discloses.

The NBU on December 6, 2016 declared Bank Trust insolvent due to
the deterioration of its financial state, Interfax-Ukraine
recounts.

"The deterioration of Bank Trust's financial state was regular and
is caused by a number of factors.  In particular, the bank issues
a significant amount of loans in the ATO area.  Due to lack of
servicing such loans, the bank's fiscal state deteriorated
significantly.  The bank's capital became negative (as of December
1 minus UAH135 million)," Interfax-Ukraine quotes the NBU as
saying.


KSG BANK: SBU Raids Offices in UAH386MM Embezzlement Probe
----------------------------------------------------------
Interfax-Ukraine reports that the Security Service of Ukraine
(SBU) jointly with Prosecutor General's Office and police raided
OJSC KSG Bank investigating into embezzlement of UAH386 million.

The press service of SBU reported on Dec. 28 that the bank's
offices, commercial structures involved in the crime and places of
residence of key owners and top managers of the bank were raided,
Interfax-Ukraine relates.

Law enforcers seized draft accountant documents, stamps, documents
confirming unlawful operations and data storage devices with
information about operation of bubble companies involved in
financial transactions with the funds of the bank," Interfax-
Ukraine quotes the press service as saying.

The law enforcers are investigating into the crime under Part 4 of
Article 190 of the Criminal Code of Ukraine (fraud), Interfax-
Ukraine notes.  Investigation is underway, Interfax-Ukraine
states.  The key shareholders of the bank were Serhiy Kasianov and
Ksenia Kasianova (33.46% each) and former MP Oleksandr Shepelev,
Interfax-Ukraine discloses.

In 2012, a criminal case was opened against former MP Shepelev,
Interfax-Ukraine relays, citing media reports.  He was accused of
being involved in embezzlement of funds of Rodovid Bank (Kyiv,
over UAH220 million) and of participating in embezzlement of
refinancing funds of UAH315.3 million issued by the National Bank
of Ukraine (NBU), according to Interfax-Ukraine.

On August 30, 2016, the NBU decided to revoke the banking license
and liquidate KSG Bank for regular violations in the fight and
prevention of legalization of proceeds received from crime (money
laundering), in particular for risk activities in the sphere of
financial monitoring, Interfax-Ukraine recounts.

During the last inspection the NBU revealed the scheme of
conversion of bank deposits into cash, in which legal entities,
individual entrepreneurs and credit unions were involved,
Interfax-Ukraine relays.



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


REDTOP ACQUISITIONS: S&P Affirms 'B' CCR; Outlook Stable
--------------------------------------------------------
S&P Global Ratings said it has affirmed its 'B' long-term
corporate credit rating on Redtop Acquisitions Ltd., an
intermediate holding company of Jersey-based patent renewal
service provider CPA Global.  The outlook is stable.

Following Redtop's successful request to lower the margin applied
to its euro-denominated first-lien facilities, S&P has affirmed
its 'B' issue ratings on Redtop Acquisitions' $80 million-
equivalent revolving credit facility (RCF) and GBP735 million-
equivalent first-lien senior secured credit facilities due in
2020.  The recovery rating on the first-lien facilities, is '4',
indicating S&P's expectation of substantial (50%-70%) recovery in
the event of a payment default.

The affirmation reflects S&P's view that Redtop Acquisitions will
continue its strong operational performance in 2017 and 2018,
despite lower-than-forecast EBITDA generation in financial 2016.
S&P views the EBITDA margin deterioration being attributed to the
translational effect of foreign exchange movements, as opposed to
a weakening competitive position of its wholly-owned subsidiary,
CPA Global.  As such, S&P believes the headwinds will reverse, and
the group will post stronger results over the coming financial
year, leading to a reduction in the adjusted leverage figures.

CPA Global is a leading provider of international patent renewals
services, handling about 1.7 million renewals each year.  S&P
believes international patents constitute a limited addressable
market, and approximately 90% of patent renewals are already
outsourced.  S&P expects volume growth in the patent renewal
segment to be bound by the growth rate for international patent
filings, which S&P expects to be 5% per year.

The group has limited product diversity, given that it generates
the majority of its profits from its niche international patent
renewal business.  This exposes the group to potential reputation
risk arising from a failure to renew patents accurately.  However,
these constraints are partly offset by high revenue visibility on
account of the annuity nature of patent renewals; the group's
leading worldwide position in the patent renewal business; and its
longstanding relationship with its customers.

The patent renewal market is very niche and has few barriers to
entry because of the administrative nature of the services
provided, which typically involve low-value processing.  However,
the leading incumbent players with their established networks have
a scale advantage that a new entrant would find difficult to
establish over S&P's rating horizon of two-to-three years.

Despite the group's leading position in the sector, it continues
to undertake acquisitions, some defensive, to maintain its
competitive advantage and widen its service offerings.  The
group's recent GBP65 million acquisition of Innography, a company
with modest EBITDA generation, is an example of a defensive
acquisition, which S&P expects to provide limited earnings uplift
in the near term.

The group has sound customer diversification, although in S&P's
view, this is somewhat constrained by its strategic partnership
with an agent through which the group serves a meaningful number
of customers.

S&P calculates that the group's S&P Global Ratings-adjusted debt
for the financial year ending July 31, 2017, (financial 2017) will
include on-balance-sheet debt of approximately GBP730 million;
off-balance-sheet debt including GBP750 million in 12% of
preference shares (including accrued interest); and GBP23 million
in operating leases, which S&P considers to be debt.

The group's cash generation benefits from minimal tax payments,
since it is registered in Jersey, and its modest capital
expenditure (capex) requirements.  In S&P's view, the group will
generate cash funds from operations (FFO) of about GBP100 million
in financial 2017, and return to FFO cash interest coverage of
more than 2.0x for the next two years.

The group's debt is mostly denominated in U.S. dollars and euros.
S&P understands that the currency exposure originating from Redtop
Acquisitions' multi-currency debt obligations is closely matched
by its sources of revenue generation.  However, S&P also notes
that the book-value of its outstanding debt rose significantly at
the end of financial 2016, and was not offset by a similar rise in
EBITDA due to timing differences, which led to a material increase
in leverage in financial 2016. If the group is unable to reduce
its significant leverage (over 17.0x at the end of financial 2016,
on an adjusted basis), S&P could view its capital structure as
unsustainable, which could lead S&P to lower the rating.

In S&P's base case, it assumes:

   -- Group revenue growth in financial 2017, of approximately
      10%-15%, partly due to an increase in patent renewal
      volumes, average gross income per renewal case, supported
      by an increase in IP services and the increased
      contribution from Innography, but also supported by the
      reversal of recent foreign currency translational
      headwinds.

   -- S&P do not forecast acquisitions over its forecast horizon,
      following the GBP65 million acquisition of Innography in
      financial 2016.

Based on these assumptions, S&P arrives at these credit measures:

   -- Adjusted debt to EBITDA will reduce to 12.5x-14.5x in
      financial 2017-2018 from 16.0x in financial 2016.

   -- Excluding the impact of the group's preference shares, S&P
      forecasts debt to EBITDA will reduce to 6.0x-8.0x in
      financial 2017-2018 from 9.4x in financial 2016.
   -- Reported free operating cash flows (FOCF) will rise to
      GBP40 million-GBP60 million in financial 2017 and GBP60
      million-GBP80 million in financial 2018, from GBP13 million
      in financial 2016.
   -- Adjusted FFO cash interest coverage should rise to
      2.5x-3.0x in financial 2017 and 3.0x-3.5x in financial
      2018, from 1.8x in financial 2016.

The stable outlook on Redtop Acquisitions reflects S&P's view that
the group will continue to benefit from steady recurring demand
for patent renewal processing and increased volumes from new
corporate clients, in addition to a reduction of leverage through
a reversal of foreign currency translational headwinds.  S&P
forecasts that limited tax payments and capex requirements will
enable the group to generate reported FOCF of about GBP40 million-
GBP60 million in financial 2017.

S&P could lower the ratings if weak trading due to customer losses
or new regulations undermines the group's liquidity position such
that EBITDA cash interest coverage falls to less than 2x and FOCF
is negative for a sustained period.  S&P could also take a
negative rating action if the group fails to deleverage from
currently elevated levels due to a weakening of operating
performance or it undertakes further substantial debt-financed
acquisitions that reverse the deleveraging (excluding preference
shares) that S&P currently expects in its base-case credit
scenario after financial 2016.

S&P could raise the ratings if the group deleverages
substantially.  However, S&P considers this possibility to be
remote at this stage, due to the group's recent debt-financed
acquisition of U.S.-based patent search and intellectual property
analytics software company Innography and the adverse effect of
foreign-exchange movements on the group's U.S. dollar- and euro-
denominated debt.


TRAVELEX HOLDINGS: S&P Affirms 'B-' CCR & Revises Outlook to Neg.
-----------------------------------------------------------------
S&P Global Ratings said that it revised its outlook on U.K.-based
foreign exchange services provider Travelex Holdings Ltd. to
negative from stable.  At the same time, S&P affirmed its 'B-'
long-term corporate credit rating on the company.

S&P also affirmed its 'B-' issue rating on Travelex's
GBP350 million senior secured notes due in 2018.  S&P's recovery
rating on the notes is unchanged at '4', indicating S&P's
expectation of recovery in the lower half of the 30%-50% range in
the event of a payment default.

S&P also affirmed its 'B+' issue rating on the GBP90 million super
senior revolving credit facility (RCF).  The recovery rating
remains at '1', indicating S&P's expectation of very high recovery
(90%-100%) in a default scenario.

The outlook revision reflects the contraction of Travelex's EBITDA
in the nine months to Sept. 30, 2016 which, excluding currency
effects, were weaker than S&P had previously anticipated.  S&P
believes that certain factors contributing to the results are
likely to persist, and have therefore revised S&P's base-case
forecast for the full year, projecting a more muted recovery in
2017 and 2018.

In the nine months to Sept. 30, 2016, Travelex reported a 36% drop
in EBITDA to GBP42.4 million, attributable mainly to the wholesale
and outsourcing division where revenues fell by 10.5%.  This was
as a result of lower banknote orders from Nigeria because of
capital controls, and fewer U.K. consumers traveling abroad due to
the weaker pound, and the short-term impact of the U.K.'s
referendum vote to leave the EU.  The retail division held up
relatively well, posting 2% like-for-like revenue globally, but
this was partly offset by the impact of terrorism in France and
Belgium, resulting in EBITDA margins for the division falling to
12.5% from 14.0% previously.

"We continue to forecast a recovery in 2017 and 2018, but we now
see the extent and timing of such recovery as less certain.  We
understand that volumes to Nigeria are starting to recover, but
sterling remains weak and the security situation in Europe remains
uncertain.  At the same time, Travelex is continuing to invest in
the digital division, which is needed to offset structurally
declining demand for cash payments in Travelex's mature markets.
We also expect Travelex to record substantially negative free
operating cash flow (FOCF) in 2016 as a result of a change in
payment terms by one its key banknotes suppliers," S&P said.

Positively, S&P sees Travelex's liquidity position as having
materially improved following asset disposals that will generate
higher-than-expected cash proceeds of about GBP115 million in
2016.  S&P further notes that Travelex's shareholders have
provided funding support in 2016 in the form of GBP27 million of
shareholder loans, with an expectation of more support being
available in 2017.  Part of this will be used to offset the effect
of the large working capital outflow in 2016 related to the change
in creditor terms by one of its key banknotes suppliers.  S&P
further understands that Travelex has repurchased GBP10 million of
its high-yield bond in 2016, and intends to further reduce its
high-yield bond by approximately GBP40 million in 2017.

Travelex's financial risk profile continues to be constrained by
high debt, consisting of GBP347 million in senior secured notes, a
GBP90 million super senior RCF, and GBP681 million in payment-in-
kind (PIK) notes and non-cash-pay preferred shares, all at the
restricted group, as defined in the bond documentation.  There is
also a $490 million cash-pay loan at BRS Ventures & Holdings Ltd.
(BRSV), Travelex's holding company, which however does not rely on
dividends from Travelex for servicing.

As a result of the EBITDA contraction, S&P forecasts that its key
measure of reported EBITDA interest coverage at the restricted
group (including restructuring costs but excluding exceptional
items) will fall to about 1.4x in 2016, which is just short of
S&P's expectation that it stated for a stable outlook, of about
1.5x.  S&P excludes interest on the debt at BRSV from our
calculation, because S&P understands that the upstreaming of
dividends is currently restricted.

S&P's assessment of Travelex's business risk profile as weak
reflects the pressures on Travelex's profitability, its exposure
to the cyclicality and event risks of the travel industry, the
decreasing share of cash used by travelers, and the complex
regulated environment in which Travelex operates.  These business
risk weaknesses are partly offset by the company's position as the
largest nonbank provider of travel money worldwide, its product
and geographic diversification, and strong franchise, coupled with
favorable long-term trends for air travel volumes.

In S&P's base case, it assumes:

   -- Mid-single-digit revenue growth, including the opening of
      new stores and ATMs, and an increase in outsourcing
      contracts.

   -- A five-to-six percentage point decline in the core group
      EBITDA margin in 2016, excluding exceptional expenses, due
      to lower wholesale shipments to Nigeria, declining activity
      in Brazil, higher investment in digital, and lower retail
      volumes due to European terror attacks.  S&P anticipates
      modestly improving EBITDA margins from 2017.

   -- GBP8 million in exceptional expenses in 2016 related to the
      sale of Travelex to Dr. Shetty in 2015.

   -- Working capital requirement in 2016 of about GBP70 million,
      of which GBP50 million is a one-time outflow related to the
      change in terms of a key bank notes supplier, partly offset
      by new alternative supply

   -- Arrangements and new shareholder loans from the owners,
      which are accounted for as a financing inflow.  Disposal
      proceeds of GBP115 million in 2016 from the sale of
      Currency Select and the U.S. insurance business.

   -- Capex of about GBP30 million in 2016 and GBP43 million in
      2017.

   -- No dividend payments to shareholders.

Based on these assumptions, S&P arrives at these credit measures:

   -- Adjusted debt to EBITDA of about 9x in 2016 and 8x in 2017,
      including non-cash-pay shareholder loans and preferred
      shares of about GBP640 million, and the holding company's
      debt of $490 million.  Unadjusted EBITDA cash interest
      coverage at the restricted group of about 1.4x in 2016 and
      1.8x in 2017.  S&P uses reported coverage ratios because
      its lease adjustments result in artificially improved
      metrics due to the importance of short-term lease
      commitments.

   -- S&P's forecast of FOCF after exceptional items at about
      negative GBP70 million in 2016 and positive GBP10 million
      in 2017.

The negative outlook reflects S&P's expectation of material EBITDA
contraction in 2016, and consequent pressure on leverage, interest
coverage metrics, and EBITDA margins.  In S&P's revised base case,
it anticipates that S&P Global Ratings-adjusted debt to EBITDA
will be about 9x in 2016, and will improve to about 8x in 2017, as
shipments to Nigeria normalize and underlying growth in the retail
segment continues, with reduced impact from the effects of a
weaker sterling and terrorism.  S&P also forecasts that its key
measure of reported EBITDA interest coverage at the restricted
group (including restructuring costs but excluding exceptional
items) will fall to about 1.4x in 2016, and will rise to about
1.8x in 2017.

"We could lower the ratings if Travelex's earnings and FOCF
deteriorated beyond our current base case, for example due to the
loss of important wholesale contracts, a further deterioration of
the geopolitical environment, continued lower travel volumes by
U.K.-based consumers, or continued working capital outflows.  We
could lower the ratings if we believed that the capital structure
was no longer sustainable, for example, if adjusted debt-to-EBITDA
rose sustainably above 9x.  We could also lower the ratings if our
measure of reported EBITDA interest coverage at the restricted
group (including restructuring costs but excluding exceptional
items) fell below 1.5x for a sustained period, or if FOCF did not
show a path to becoming at least neutral in 2017,".

"For us to revise the outlook back to stable would require
Travelex to demonstrate a clear turnaround in its operating
performance, such that we believed that EBITDA in 2017 would at
least meet our base-case expectations, including adjusted debt-to-
EBITDA of about 8x, and reported EBITDA interest coverage at the
restricted group (including restructuring costs but excluding
exceptional items) of clearly and sustainably more than 1.5x.  A
stable outlook would also require us to believe that FOCF is
materially improving in 2017, for example as a result of working
capital efficiency measures," S&P said.



===============
X X X X X X X X
===============


* BOND PRICING: For the Week December 26 to December 30, 2016
-------------------------------------------------------------

Issuer                      Coupon     Maturity  Currency  Price
------                      ------     --------  --------  -----
Banca Monte dei Paschi di S   5.00    4/21/2020   EUR     45.17
Privatbank CJSC Via UK SPV   10.25    1/23/2018   USD     13.82
Banca Monte dei Paschi di S   2.29    5/15/2018   EUR     45.25
Bank of New York Mellon Lux   3.94   12/30/2099   EUR      2.96
Banca Monte dei Paschi di S   5.60     9/9/2020   EUR     46.25
Oi Brasil Holdings Cooperat   5.75    2/10/2022   USD     32.00
Banca Monte dei Paschi di S   0.69   11/30/2017   EUR     45.19
Privatbank CJSC Via UK SPV   11.00     2/9/2021   USD     10.13
Ensco PLC                     5.75    10/1/2044   USD     72.24
Bank of New York Mellon Lux   4.19   12/15/2050   EUR     45.25
Privatbank CJSC Via UK SPV   10.88    2/28/2018   USD     11.75
Portugal Telecom Internatio   4.63     5/8/2020   EUR     30.01
CGG SA                        5.88    5/15/2020   EUR     45.65
CSN Resources SA              6.50    7/21/2020   USD     73.44
Intelsat Luxembourg SA        7.75     6/1/2021   USD     32.75
Air Berlin PLC                6.75     5/9/2019   EUR     75.00
Offshore Drilling Holding S   8.38    9/20/2020   USD     43.00
Veneto Banca SpA              9.50    12/1/2025   EUR     38.83
Portugal Telecom Internatio   5.00    11/4/2019   EUR     29.51
Banca Popolare di Vicenza     2.84   12/20/2017   EUR     52.00
Aegon NV                      0.26                EUR     62.04
Portugal Telecom Internatio   4.38    3/24/2017   EUR     29.98
Petrobras Global Finance BV   5.63    5/20/2043   USD     74.47
PagesJaunes Finance & Co SC   8.88     6/1/2018   EUR     62.02
Grupo Isolux Corsan Finance   6.63    4/15/2021   EUR     21.50
Abengoa SA                    8.50    3/31/2016   EUR      3.78
CGG SA                        1.75     1/1/2020   EUR      2.28
Banque Federative du Credit   0.90                EUR     61.21
Air Berlin PLC                5.63     5/9/2019   CHF     64.87
Banca Popolare di Vicenza     9.50    9/29/2025   EUR     39.05
Casino Guichard Perrachon S   1.43                EUR     58.88
CHC Helicopter SA             9.25   10/15/2020   USD     45.00
Obrascon Huarte Lain SA       4.75    3/15/2022   EUR     72.00
Rickmers Holding AG           8.88    6/11/2018   EUR     18.13
Aegon NV                      1.68                USD     71.32
Frigoglass Finance BV         8.25    5/15/2018   EUR     63.52
Portugal Telecom Internatio   4.50    6/16/2025   EUR     30.43
Ajecorp BV                    6.50    5/14/2022   USD     51.46
Obrascon Huarte Lain SA       5.50    3/15/2023   EUR     71.66
Portugal Telecom Internatio   6.25    7/26/2016   EUR     29.73
Abengoa Finance SA            8.88     2/5/2018   EUR      4.02
Portugal Telecom Internatio   5.88    4/17/2018   EUR     29.50
AXA SA                        0.82                EUR     70.28
Fuerstenberg Capital II Gmb   5.63                EUR     65.34
AXA SA                        0.54                EUR     66.37
QGOG Constellation SA         6.25    11/9/2019   USD     65.93
AXA SA                        0.95                EUR     72.32
Abengoa Finance SA            6.00    3/31/2021   EUR      3.86
Fred Olsen Energy ASA         4.13    2/28/2019   NOK     57.88
Veneto Banca SpA              0.74    6/21/2017   EUR     44.06
CGG SA                        6.50     6/1/2021   USD     46.10
CGG SA                        1.25     1/1/2019   EUR     17.43
Far East Capital Ltd SA       8.00     5/2/2018   USD     56.00
Nordea Bank AB                0.44                EUR     67.39
Bluewater Holding BV         10.00   12/10/2019   USD     64.50
Avanti Communications Group  10.00    10/1/2019   USD     76.00
OAS Investments GmbH          8.25   10/19/2019   USD      5.00
Santander International Pre   2.00                USD     46.00
Banca Monte dei Paschi di S   7.00     3/4/2019   EUR     46.13
Brunswick Rail Finance Desi   6.50    11/1/2017   USD     58.50
BPCE SA                       2.81                USD     71.52
Intelsat Jackson Holdings S   5.50     8/1/2023   USD     67.66
Neopost SA                    3.38                EUR     50.76
CNP Assurances                0.88                EUR     59.08
Etablissements Maurel et Pr   1.63     7/1/2019   EUR     16.50
Abengoa Finance SA            7.00    4/15/2020   EUR      3.80
HSBC Bank PLC                 1.63                USD     70.87
Sapinda Invest SARL           5.00    6/30/2019   EUR     54.00
ING Groep NV                  0.84                EUR     67.38
AXA SA                        1.43                USD     74.15
Banca Monte dei Paschi di S   0.69    1/15/2018   EUR     46.95
Ageasfinlux SA                1.04                EUR     47.67
BNP Paribas Fortis SA         1.68                EUR     65.31
ING Groep NV                  0.44                EUR     62.35
Rothschilds Continuation Fi   0.81                EUR     54.93
Holdikks SAS                  6.75    7/15/2021   EUR     70.51
Capital Funding GmbH          2.09                EUR     71.27
Credit Agricole SA            0.68                EUR     62.62
Landes-Hypothekenbank Steie   0.07    3/20/2043   EUR     73.33
Intelsat Luxembourg SA        8.13     6/1/2023   USD     31.75
Immigon Portfolioabbau AG    10.00                EUR      6.63
HSH Nordbank AG/Luxembourg    2.10                EUR     13.85
AXA SA                        2.10                USD     74.81
Credit Mutuel Arkea SA        0.44                EUR     53.71
ADLER Real Estate AG          2.50    7/19/2021   EUR     14.99
Gol LuxCo SA                  8.88    1/24/2022   USD     67.50
Scholz Holding Gmbh           8.50     3/8/2017   EUR     37.38
Indo Energy Finance II BV     6.38    1/24/2023   USD     80.01
Banco Espirito Santo SA       4.00    1/21/2019   EUR     27.88
Banque Federative du Credit   0.65                EUR     59.70
Aldesa Financial Services S   7.25     4/1/2021   EUR     67.00
Brighthouse Group PLC         7.88    5/15/2018   GBP     68.88
Avanti Communications Group  10.00    10/1/2019   USD     60.25
Banca Monte dei Paschi di S   2.79   10/31/2018   EUR     46.00
Pacific Drilling SA           5.38     6/1/2020   USD     35.68
Algeco Scotsman Global Fina  10.75   10/15/2019   USD     71.25
Abengoa Greenfield SA         5.50    10/1/2019   EUR      3.88
IMMOFINANZ AG                 4.25     3/8/2018   EUR      4.32
Havila Shipping ASA           8.60    3/30/2017   NOK     50.88
Santander Finance Preferred   0.31                EUR     59.04
Caixa Terrassa Societat de    0.41                EUR     54.63
KTG Energie AG                7.25    9/28/2018   EUR      6.75
KTG Agrar SE                  7.13     6/6/2017   EUR      2.07
CGG SA                        6.88    1/15/2022   USD     46.26
Solarworld AG                 9.68    2/24/2019   EUR     57.10
Air France-KLM                2.03    2/15/2023   EUR     10.41
SOITEC                        6.75    9/18/2018   EUR      2.79
OGX Austria GmbH              8.50     6/1/2018   USD      0.00
Jyske Bank A/S                0.49                EUR     51.13
Yuksel Insaat AS              9.50   11/10/2015   USD     25.88
Abengoa Finance SA            8.88    11/1/2017   USD      3.42
Banco Espirito Santo SA       7.13   11/28/2023   EUR      0.35
VistaJet Malta Finance PLC    7.75     6/1/2020   USD     65.88
Bibby Offshore Services PLC   7.50    6/15/2021   GBP     60.50
Banca Carige SpA              2.78    6/19/2018   EUR     70.00
Mriya Agro Holding PLC        9.45    4/19/2018   USD      6.95
WPE International Cooperati  10.38    9/30/2020   USD     15.00
Alno AG                       8.50    5/14/2018   EUR     42.75
UkrLandFarming PLC           10.88    3/26/2018   USD     26.50
Pierre & Vacances SA          3.50    10/1/2019   EUR     40.47
Societe Alsacienne et Lorra   1.63     1/1/2022   EUR     57.62
Johnston Press Bond Plc       8.63     6/1/2019   GBP     62.75
Econocom Group SA/NV          1.50    1/15/2019   EUR     14.07
Takko Luxembourg 2 SCA        6.69    4/15/2019   EUR     73.00
ATF Capital BV                8.58                USD     62.13
CEVA Group PLC                9.00     9/1/2021   USD     65.00
European Directories BondCo   7.00    12/9/2018   EUR     66.25
HSBC Bank PLC                 1.50                USD     72.13
Ichor Coal NV                 8.00     6/7/2017   EUR     53.44
Banco Espirito Santo SA       2.63     5/8/2017   EUR     27.88
Banco Bilbao Vizcaya Argent   0.99                EUR     72.26
Banca Carige SpA              8.34                EUR     34.50
Afren PLC                     6.63    12/9/2020   USD      0.06
HSBC Bank PLC                 1.48                USD     70.67
Far East Capital Ltd SA       8.75     5/2/2020   USD     57.50
GEWA 5 to 1 GmbH & Co KG      6.50    3/24/2018   EUR     31.38
Banco Espirito Santo SA       4.75    1/15/2018   EUR     27.88
Bilt Paper BV                 9.64                USD     49.19
BPCE SA                       0.42                EUR     56.50
Novo Banco SA                 5.00     4/4/2019   EUR     67.92
Sequa Petroleum NV            5.00    4/29/2020   USD     69.00
Virgolino de Oliveira Finan  10.50    1/28/2018   USD      8.10
Nexity SA                     0.13     1/1/2023   EUR     63.95
CHC Helicopter SA             9.38     6/1/2021   USD     34.00
Lambay Capital Securities P   6.25                GBP      0.58
Cofinoga Funding Two LP       1.68                EUR     62.25
Aegon NV                      5.19                NLG     65.46
Rothschilds Continuation Fi   1.50                USD     48.75
Eramet                        4.00                EUR     57.22
Fuerstenberg Capital Erste    1.45                EUR     56.63
Paragon Offshore PLC          6.75    7/15/2022   USD     18.25
BIM SAS                       2.50   11/13/2020   EUR     27.07
Novo Banco SA                 3.50     1/2/2043   EUR     50.88
Rem Offshore ASA              5.00    12/8/2024   NOK     32.30
NIBC Bank NV                  0.66                EUR     51.00
Etablissements Maurel et Pr   2.75     7/1/2021   EUR     11.01
Bremer Landesbank Kreditans   8.50                EUR     61.84
Espirito Santo Financial Gr   6.88   10/21/2019   EUR      0.31
Sydbank A/S                   0.85                EUR     56.50
GNB - Cia de Seguros de Vid   3.18                EUR     50.00
Caisse Federale du Credit M   0.89                EUR     54.05
IGas Energy PLC              10.00    3/22/2018   USD     73.75
Banca Popolare di Vicenza     5.00     6/4/2024   EUR     67.44
Ekosem-Agrar GmbH             8.50    12/7/2022   EUR     66.75
UniCredit Bank Austria AG     0.18   10/31/2031   EUR     68.59
Norske Skog Holding AS        8.00    2/24/2021   EUR     48.88
Virgolino de Oliveira Finan  11.75     2/9/2022   USD      7.97
GNB - Cia de Seguros de Vid   1.88   12/19/2022   EUR     55.00
Norske Skogindustrier ASA     7.13   10/15/2033   USD     29.63
Waste Italia SpA             10.50   11/15/2019   EUR     24.88
Deutsche Bank AG/London       2.98    6/30/2034   USD     60.25
OSX 3 Leasing BV             13.00    3/20/2015   USD     25.00
Banco Santander SA            0.61                EUR     58.20
Societe Generale SA           1.38                USD     62.25
Mitchells & Butlers Finance   0.97   12/15/2033   GBP     72.67
BNP Paribas SA                1.15                EUR     56.00
Pescanova SA                  5.13    4/20/2017   EUR      2.05
German Pellets GmbH           7.25     7/9/2018   EUR      0.75
Beate Uhse AG                 7.75     7/9/2019   EUR     22.50
Rudolf Woehrl AG              6.50    2/12/2018   EUR     11.26
Danske Bank Oyj               0.63                EUR     56.55
Abengoa Finance SA            7.75     2/1/2020   USD      3.23
Norske Skogindustrier ASA     2.00   12/30/2115   EUR     15.00
Sanha GmbH & Co KG            7.75     6/4/2018   EUR     40.25
Oi Brasil Holdings Cooperat   5.75    2/10/2022   USD     33.50
Popular Capital SA            0.81                EUR     48.00
Solarworld AG                 9.68    2/24/2019   EUR     50.87
Nordea Bank Norge ASA         1.50                USD     63.03
Jyske Bank A/S                0.53                EUR     57.75
Banca Monte dei Paschi di S   4.40    3/14/2024   EUR     32.13
Tatfondbank PJSC             12.50   12/11/2024   RUB     29.32
Co-Operative Bank PLC/Unite   8.50     7/1/2025   GBP     69.68
NTRP Via Interpipe Ltd       10.25     8/2/2017   USD     26.67
Privatbank CJSC Via UK SPV   10.88    2/28/2018   USD     13.00
Santander Finance Capital S   2.00                USD     43.00
Allied Irish Banks PLC       12.50    6/25/2035   GBP     73.50
Novo Banco SA                 5.00    5/14/2019   EUR     68.08
Deutsche Bank AG/London       3.20   10/31/2034   USD     71.50
Tatfondbank PJSC             13.50    5/28/2025   RUB     29.85
Ekosem-Agrar GmbH             8.75    3/23/2021   EUR     72.25
Ideal Standard Internationa  11.75     5/1/2018   EUR     11.88
Matalan Finance PLC           8.88     6/1/2020   GBP     68.25
Banco Espirito Santo SA       2.35                EUR      0.15
Paragon Offshore PLC          7.25    8/15/2024   USD     17.75
Volksbank NV                  6.25   10/26/2020   EUR      3.23
KTG Agrar SE                  7.25   10/15/2019   EUR      2.09
Volksbank NV                 11.25                EUR      1.69
Standard Chartered PLC        1.65                USD     66.56
World Wide Supply AS          7.75    5/26/2017   USD     14.00
Greene King Finance PLC       2.45    3/15/2036   GBP     69.89
E Forland AS                  7.89     9/4/2018   NOK     67.00
Ausy                          3.25     1/1/2021   EUR     63.25
ESFIL-Espirito Santo Financ   5.25    6/12/2015   EUR      0.25
German Pellets GmbH           7.25   11/27/2019   EUR      0.75
Pacific Drilling SA           5.38     6/1/2020   USD     35.00
Pescanova SA                  8.75    2/17/2019   EUR      2.05
Barclays Bank PLC             1.62    1/27/2031   USD     69.97
Aegon NV                      1.51                NLG     57.27
Minicentrales Dos SA          6.45    4/14/2028   EUR     63.50
Scandinavian Airlines Syste   0.63                CHF     24.88
Offshore Drilling Holding S   8.38    9/20/2020   USD     41.00
Aralco Finance SA            10.13     5/7/2020   USD      2.00
Alpine Holding GmbH           6.00    5/22/2017   EUR      1.69
Bank Nadra via NDR Finance    8.25    7/31/2018   USD      0.38
Candyking Holding AB          5.00    1/29/2018   SEK     36.63
Manchester Building Society   6.75                GBP     13.88
Barclays Bank PLC             0.84    3/21/2033   USD     54.75
Farstad Shipping ASA          4.52    5/29/2018   NOK     28.50
Oceanteam ASA                12.13   10/24/2017   USD     20.00
Mobylife Holding A/S          7.25    5/23/2018   SEK     64.88
Olympic Ship AS               6.15    6/18/2019   NOK     19.75
Elematic Oy Ab               10.00    5/30/2018   EUR     53.00
Talvivaara Mining Co PLC      4.00   12/16/2015   EUR      0.38
Iona Energy Co UK PLC        12.50    9/27/2018   USD      3.27
Abengoa SA                    6.25    1/17/2019   EUR      2.64
Praktiker AG                  5.88    2/10/2016   EUR      0.13
City of Kiev Ukraine Via CS   8.00    11/6/2015   USD     70.38
3W Power SA                   5.50   11/11/2020   EUR     64.51
Elli Investments Ltd         12.25    6/15/2020   GBP     45.13
Barclays Bank PLC             1.48    7/28/2031   USD     67.56
Tonon Luxembourg SA           7.25    1/24/2020   USD     11.13
Avanti Communications Group  10.00    10/1/2019   USD     60.00
Afren PLC                    11.50     2/1/2016   USD      0.09
Tonon Luxembourg SA          10.50    5/14/2024   USD     40.63
Mriya Agro Holding PLC       10.95    3/30/2016   USD      5.67
Novo Banco SA                 5.00    5/21/2019   EUR     68.08
Barclays Bank PLC             1.88    11/1/2031   USD     65.10
Barclays Bank PLC             5.40    9/13/2028   USD     74.85
IGas Energy PLC              10.00   12/11/2018   USD     21.88
IKB Deutsche Industriebank    5.63    3/31/2017   EUR     27.00
Centrics Oil & Gas Finance    6.00     3/4/2017   EUR     70.00
Lloyds Bank PLC               3.25   11/27/2033   USD     66.50
Enterprise Holdings LTD       7.00    3/30/2020   EUR      2.33
Royal Bank of Scotland Grou   1.16                USD     70.75
Abengoa Finance SA            8.88    11/1/2017   USD      3.42
Barclays Bank PLC             2.62   12/23/2033   USD     68.53
Banca Popolare di Vicenza     4.97    4/20/2027   EUR     68.63
Deutsche Bank AG/London       1.09    3/15/2033   USD     54.25
Vneshprombank Ltd via VPB F   9.00   11/14/2016   USD      0.00
NIBC Bank NV                  1.84                USD     59.50
Neue ZWL Zahnradwerk Leipzi   7.50    2/17/2021   EUR     62.63
Banca Carige SpA              1.68   12/29/2018   EUR     47.88
BNP Paribas SA                1.31                USD     63.00
Barclays Bank PLC             2.72    3/28/2034   USD     61.22
Mitchells & Butlers Finance   2.50    6/15/2036   GBP     73.53
Novo Banco SA                 5.00    5/23/2019   EUR     67.74
Vseukrainsky Aktsinerny Ban  10.90    6/14/2019   USD      1.83
Barclays Bank PLC             3.55    7/31/2034   USD     68.48
Talvivaara Mining Co PLC      9.75     4/4/2017   EUR      0.56
OGX Austria GmbH              8.38     4/1/2022   USD      0.00
SeniVita Sozial gemeinnuetz   7.00                EUR     70.00
Farstad Shipping ASA          5.27    2/15/2017   NOK     28.50
Spirit Issuer PLC             0.92   12/28/2028   GBP     71.96
Touax SA                      6.00    7/10/2020   EUR     16.85
Cooperatieve Rabobank UA      0.50   11/26/2021   ZAR     64.41
Espirito Santo Financial Gr   3.13    12/2/2018   EUR      0.23
Steilmann SE                  7.00     3/9/2017   EUR      2.42
Tatfondbank PJSC             13.00     9/7/2021   RUB     26.83
Barclays Bank PLC             1.50                USD     69.35
Travel24.com AG               7.50    9/17/2017   EUR     60.00
Corporate Commercial Bank A   8.25     8/8/2014   USD      0.54
Havila Shipping ASA           9.67    8/30/2017   NOK     14.75
Cirio Holding Luxembourg SA   6.25    2/16/2004   EUR      0.75
National Westminster Bank P   1.50                USD     70.75
Minicentrales Dos SA          4.81   11/29/2034   EUR     56.50
Avanti Communications Group  10.00    10/1/2019   USD     62.38
TradeDoubler AB               6.75   12/20/2018   SEK     47.13
Phosphorus Holdco PLC        10.00     4/1/2019   GBP      3.29
Afren PLC                     6.63    12/9/2020   USD      0.06
OP Corporate Bank plc         0.61                EUR     56.03
Lehman Brothers UK Capital    5.75                EUR      0.02
Rena GmbH                     7.00   12/15/2015   EUR      8.63
Banca delle Marche SpA        0.64     6/1/2017   EUR      1.00
Novo Banco SA                 5.00    2/24/2022   EUR     68.25
LBI HF                        6.10    8/25/2011   USD     11.13
Barclays Bank PLC             0.69    2/25/2031   USD     67.81
Orient Express Bank PJSC vi  12.00    5/29/2019   USD     51.88
Lloyds Bank PLC               0.66    4/26/2033   USD     54.38
Avanti Communications Group  10.00    10/1/2019   USD     59.88
Capital Raising GmbH          7.50                EUR     18.50
Olympic Ship AS               7.29    9/21/2017   NOK     21.25
Lehman Brothers UK Capital    5.13                EUR      0.20
Credit Lyonnais SACA          0.80                EUR
Barclays Bank PLC             0.53    5/31/2033   USD     54.57
Gebr Sanders GmbH & Co KG     8.75   10/22/2018   EUR     24.75
Volstad Subsea AS             7.65     7/5/2017   NOK     69.88
Banco Espirito Santo SA       6.88    7/15/2016   EUR     26.88
Stroika Finance Ltd Via Eme   7.70    6/25/2019   RUB     12.00
Lloyds Bank PLC               1.56                USD     70.20
Barclays Bank PLC             0.96    9/30/2031   USD     67.82
Dexia Credit Local SA         1.42                EUR      3.60
Steilmann SE                  7.00    9/23/2018   EUR      2.42
Novo Banco SA                 3.00    6/21/2022   USD     65.01
National Westminster Bank P   1.38                USD     70.75
Sazka AS                      9.00    7/12/2021   EUR      2.73
Alcatel-Lucent SA             0.13    1/30/2020   EUR      4.11
Royal Bank of Scotland PLC/   2.65    8/26/2031   USD     62.92
International Industrial Ba  11.00    2/19/2013   USD      0.49
Abengoa Greenfield SA         6.50    10/1/2019   USD      3.88
Veneto Banca SpA              6.95    2/25/2025   EUR     43.50
National Westminster Bank P   1.19                USD     70.88
Abengoa SA                    4.50     2/3/2017   EUR      4.30
Virgolino de Oliveira Finan  10.88    1/13/2020   USD     25.75
Deutsche Bank AG/London       2.65    8/28/2034   USD     58.00
Electromagnetic Geoservices   7.18    6/27/2019   NOK     45.63
EDOB Abwicklungs AG           7.50     4/1/2012   EUR      0.25
Solor Bioenergi Holding AB    6.30    11/2/2017   NOK     57.50
Orco Property Group SA        7.00    11/7/2019   EUR     70.50
Abengoa Greenfield SA         6.50    10/1/2019   USD      3.88
syncreon Group BV / syncreo   8.63    11/1/2021   USD     73.50
Breeze Finance SA             6.71    4/19/2027   EUR     28.00
RENE LEZARD Mode GmbH         7.25   11/25/2017   EUR     15.00
Novo Banco SA                 5.00    3/15/2022   EUR     68.25
Enterprise Holdings LTD       7.00    9/26/2017   EUR      2.33
Neue ZWL Zahnradwerk Leipzi   7.50     3/4/2019   EUR     73.63
Novo Banco SA                 3.50    2/19/2043   EUR     51.70
Espirito Santo Financial Gr   9.75   12/19/2025   EUR      0.52
Brunswick Rail Finance Desi   6.50    11/1/2017   USD     58.38
Paragon Offshore PLC          7.25    8/15/2024   USD     17.75
Royal Bank of Scotland PLC/   2.54   11/16/2030   USD     64.45
Lloyds Bank PLC               1.33                USD     70.25
Lehman Brothers Treasury Co   6.00    11/2/2035   EUR      9.25
Societe Generale SA           0.81                EUR     52.14
Norske Skogindustrier ASA     7.13   10/15/2033   USD     34.69
PA Resources AB              13.50     3/3/2016   SEK      0.11
getgoods.de AG                7.75    10/2/2017   EUR      0.03
Barclays Bank PLC             0.66    3/28/2033   USD     54.66
Abanka Vipa DD Via Afinance   1.59                EUR      0.91
Lloyds Bank PLC               0.83    1/31/2033   USD     57.93
Sydbank A/S                   0.79                EUR     69.25
Steilmann SE                  6.75    6/27/2017   EUR      4.44
BOA Offshore AS               7.90   12/18/2018   NOK     23.50
JZ Capital Partners Ltd       6.00    7/30/2021   GBP     11.00
Barclays Bank PLC             1.56                USD     71.34
Island Drilling Co ASA        9.50     4/3/2018   USD      2.87
Dexia SA                      1.47                EUR      5.13
Commerzbank Holdings UK Ltd   1.69                USD     67.53
Deutsche Bank AG              0.50    6/28/2033   USD     56.13
SiC Processing GmbH           7.13     3/1/2016   EUR      1.26
Smart Solutions GmbH          8.00    12/3/2018   EUR     29.38
Portugal Telecom Internatio   5.24    11/6/2017   EUR     30.88
IKB Deutsche Industriebank    4.70    3/31/2017   EUR     27.00
Azubu Investments SA          5.00    8/25/2018   EUR     50.00
Cirio Finanziaria SpA         8.00   12/21/2005   EUR      0.25
Veneto Banca SpA              6.94    5/15/2025   EUR     29.88
Lehman Brothers Treasury Co   6.00    2/15/2035   EUR      9.25
Barclays Bank PLC             4.65   11/28/2029   USD     74.75
Alno AG                       8.00    3/21/2019   EUR     38.00
CNP Assurances                2.00                EUR     62.00
Teksid Aluminum Luxembourg   11.38    7/15/2011   EUR      0.19
Barclays Bank PLC             3.23    8/28/2029   USD     74.56
Barclays Bank PLC             1.46    6/17/2033   USD     58.92
Sairgroup Finance BV          4.38     6/8/2006   EUR     18.50
Societe Generale SA           8.88     6/1/2017   USD     29.75
Petrol AD                     8.38    1/26/2017   EUR     14.50
SeaBird Exploration Finance   6.00     3/3/2018   USD     10.00
Deutsche Bank AG/London       3.33    3/27/2035   USD     73.95
Wild Bunch AG                 8.00    3/23/2019   EUR     60.00
More & More AG                8.13    6/11/2018   EUR     31.75
UniCredit Bank Austria AG     0.16   12/27/2031   EUR     65.75
IT Holding Finance SA         9.88   11/15/2012   EUR      0.11
Action SA                     3.19     7/4/2017   PLN     37.49
Strenesse AG                  9.00    3/15/2017   EUR     16.50
Hybrid Raising GmbH           6.63                EUR     17.50
Novo Banco SA                 3.50    1/23/2043   EUR     50.88
CBo Territoria                6.00     1/1/2020   EUR      4.20
Norske Skog Holding AS        8.00    2/24/2023   USD     43.25
KPNQwest NV                  10.00    3/15/2012   EUR      0.06
Barclays Bank PLC             3.38    9/29/2034   USD     69.92
Bank Nederlandse Gemeenten    0.50     6/7/2022   ZAR     61.62
Espirito Santo Financial Po   5.13    5/30/2016   EUR      0.64
Kaupthing ehf                 7.63    2/28/2015   USD     17.63
Standard Chartered PLC        1.13                USD     66.19
Lloyds Bank PLC               0.75    2/22/2033   USD     54.75
Far Eastern Shipping Co PLC  13.00   11/28/2017   RUB     52.06
Lehman Brothers Treasury Co   7.25    10/5/2035   EUR      9.63
Abengoa Finance SA            7.75     2/1/2020   USD      3.23
Cooperatieve Rabobank UA      0.50   10/30/2043   MXN     10.24
Barclays Bank PLC             0.60     4/9/2028   USD     65.10
Karlie Group GmbH             5.00    6/25/2021   EUR      2.61
Norske Skog Holding AS        8.00    2/24/2023   USD     43.25
Cirio Finance Luxembourg SA   7.50    11/3/2002   EUR      4.49
Kaupthing ehf                 5.75    10/4/2011   USD     17.63
Deutsche Bank AG/London       3.62    9/30/2029   USD     70.50
Artea                         6.00     8/4/2019   EUR     15.66
Norske Skog Holding AS        8.00    2/24/2021   EUR     48.88
Finance and Credit Bank JSC   9.25    1/25/2019   USD      0.00
Cirio Del Monte NV            7.75    3/14/2005   EUR      0.78
Belfius Bank SA/NV            1.66                FRF     69.13
Sidetur Finance BV           10.00    4/20/2016   USD      5.25
DNB Bank ASA                  1.38                USD     60.35
Koninklijke Luchtvaart Maat   0.75                CHF     36.55
Barclays Bank PLC             1.25                USD     71.11
Svensk Exportkredit AB        0.50    6/20/2029   AUD     67.84
Banco Pinto & Sotto Mayor     0.68                EUR     18.90
de Volksbank NV               6.26                EUR      0.01
DNB Bank ASA                  1.19                USD     60.33
Laurel GmbH                   7.13   11/16/2017   EUR      8.75
German Pellets GmbH           7.25     4/1/2016   EUR      0.75
Eidesvik Offshore ASA         5.60    5/22/2018   NOK     68.50
OGX Austria GmbH              8.38     4/1/2022   USD      0.00
Eniro AB                      6.00    4/14/2020   SEK     14.34
Del Monte Finance Luxembour   6.63    5/24/2006   EUR      4.98
Assystem                      4.50                EUR     30.69
Barclays Bank PLC             2.57   12/27/2028   USD     72.85
Royal Bank of Scotland PLC/   2.62   12/30/2030   USD     67.59
Hellas Telecommunications L   8.50   10/15/2013   EUR      0.28
Manchester Building Society   8.00                GBP     24.25
Portigon AG                   7.46   12/31/2019   EUR     21.50
Golden Gate AG                6.50   10/11/2014   EUR     47.75
Dexia Kommunalbank Deutschl   4.88   12/31/2016   EUR     37.00
Tatfondbank PJSC             13.50    3/21/2025   RUB     25.65
Tonon Luxembourg SA          10.50    5/14/2024   USD     40.63
Grupo Isolux Corsan Finance   6.63    4/15/2021   EUR     21.88
Standard Chartered PLC        1.56                USD     66.25
Barclays Bank PLC             4.27    5/14/2029   USD     70.00
AKB Peresvet ZAO             13.50   10/16/2020   RUB     29.26
Danske Bank Oyj               1.28                EUR     43.38
CGG SA                        5.88    5/15/2020   EUR     45.88
Mox Telecom AG                7.25    11/2/2017   EUR      2.70
Kommunekredit                 0.50    7/30/2027   TRY     29.51
Region of Abruzzo Italy       0.17    11/7/2036   EUR     62.83
Phones4u Finance PLC          9.50     4/1/2018   GBP     66.00
Volstad Shipping AS           7.14    4/15/2019   NOK     25.00
Sairgroup Finance BV          6.63    10/6/2010   EUR     20.00
CRC Breeze Finance SA         6.11     5/8/2026   EUR     52.38
Windreich GmbH                6.50     3/1/2015   EUR     10.88
Barclays Bank PLC             2.62   12/30/2030   USD     67.41
Barclays Bank PLC             1.14    3/21/2031   USD     68.90
Tatfondbank PJSC             14.50     2/3/2026   RUB     27.16
Alpine Holding GmbH           5.25    6/10/2016   EUR      1.65
Pescanova SA                  6.75     3/5/2015   EUR      3.03
CEVA Group PLC                9.00     9/1/2021   USD     64.00
Rena GmbH                     8.25    7/11/2018   EUR      8.63
KPNQwest NV                   8.88     2/1/2008   EUR      0.06
Frey                          6.00   11/15/2022   EUR     22.80
Barclays Bank PLC             0.96    9/30/2031   USD     67.87
MS Deutschland Beteiligungs   6.88   12/18/2017   EUR      9.32
PA Resources AB               3.00   12/27/2017   NOK      0.11
Barclays Bank PLC             2.62   12/30/2030   USD     67.46
BNP Paribas SA                0.78    4/30/2033   USD     50.09
APP International Finance C  11.75    10/1/2005   USD      0.56
Dexia Kommunalbank Deutschl   5.63   12/31/2017   EUR     13.13
OGX Austria GmbH              8.50     6/1/2018   USD      0.00
Windreich GmbH                6.50    7/15/2016   EUR     10.88
Deutsche Bank AG/London       3.65   11/26/2034   USD     65.80
Svensk Exportkredit AB        0.50    3/28/2029   AUD     69.06
Cooperatieve Rabobank UA      0.50    7/30/2043   MXN     10.33
Paragon Offshore PLC          6.75    7/15/2022   USD     18.75
Lloyds Bank PLC               1.13                USD     70.37
Far Eastern Shipping Co PLC  15.00    2/27/2018   RUB     51.75
Barclays Bank PLC             0.07   12/28/2040   EUR     67.03
Lloyds Bank PLC               1.84    7/29/2033   USD     70.00
Arpeni Pratama Ocean Line I   2.00    6/30/2021   USD      0.01
Accentro Real Estate AG       6.25    3/27/2019   EUR      7.00
KPNQwest NV                   7.13     6/1/2009   EUR      0.06
Barclays Bank PLC             2.41   11/29/2030   USD     67.83
UniCredit Bank Austria AG     0.21    8/20/2033   EUR     66.78
AMATHEON AGRI                 8.50     4/4/2018   EUR     72.75
CSN Resources SA              6.50    7/21/2020   USD     73.36
Activa Resources AG           8.00   11/15/2017   EUR     25.00
CHC Helicopter SA             9.25   10/15/2020   USD     47.25
IKS 5 Finance OOO             9.45    9/11/2031   RUB     60.51
Gunther Zamek Produktions-U   7.75    5/15/2017   EUR      1.55
Barclays Bank PLC             1.45    4/25/2034   USD     62.11
Dannemora Mineral AB         11.75    3/22/2016   USD      0.90
Bulgaria Steel Finance BV    12.00     5/4/2013   EUR      2.46
Bashneft PJSC                 9.50   12/10/2026   RUB     60.00
SAG Solarstrom AG             6.25   12/14/2015   EUR     28.50
DEMIRE Real Estate AG         6.00   12/30/2018   EUR      3.50
Uppfinnaren 1 AB             10.00                SEK     66.13
Kamaz PJSC                   11.24    7/18/2030   RUB     60.01
EFG International AG          0.63                EUR     65.00
Abengoa Finance SA            8.88     2/5/2018   EUR      4.02
Nationwide Building Society   0.90                GBP     70.00
Hellenic Republic Governmen   2.09    7/25/2057   EUR     30.00
Northland Resources AB        4.00   10/15/2020   USD      0.07
Volksbank NV                  2.44                EUR      1.69
Barclays Bank PLC             2.75    2/28/2034   USD     67.16
IM Skaugen SE                10.14    4/11/2017   NOK     29.75
Santander Finance Capital S   2.00                EUR     24.38
Banco Pastor SAU              2.08                EUR     57.26
Santander Finance Capital S   2.00                EUR     24.13
Autonomous Community of Cat   2.97     9/8/2039   JPY     64.41
Region of Molise Italy        0.18   12/15/2033   EUR     65.88
QGOG Constellation SA         6.25    11/9/2019   USD     65.86
Cooperatieve Rabobank UA      0.50   10/29/2027   MXN     37.29
Novo Banco SA                 3.50    3/18/2043   EUR     50.95
Bashneft PJSC                 9.50   12/12/2024   RUB     60.00
DNB Bank ASA                  1.38                USD     60.33
Northland Resources AB       15.00    7/15/2019   USD      0.44
International Finance Facil   0.50    6/24/2024   ZAR     48.62
Afren PLC                    10.25     4/8/2019   USD      0.06
A-TEC Industries AG           5.75    11/2/2010   EUR      2.00
Banca Popolare di Vicenza     9.50    10/2/2025   EUR     37.25
Oi Brasil Holdings Cooperat   5.63    6/22/2021   EUR     32.00
Geotech Seismic Services PJ  13.00   10/16/2019   RUB     71.21
Alpine Holding GmbH           5.25     7/1/2015   EUR      1.65
Kommunekredit                 0.50    2/20/2020   BRL     73.44
CGG SA                        6.88    1/15/2022   USD     45.88
Svensk Exportkredit AB        0.50    4/24/2029   AUD     59.21
Lehman Brothers Treasury Co   5.10     5/8/2017   HKD      9.63
A-TEC Industries AG           8.75   10/27/2014   EUR      2.00
VistaJet Malta Finance PLC    7.75     6/1/2020   USD     65.50
Afren PLC                    11.50     2/1/2016   USD      0.09
SAG Solarstrom AG             7.50    7/10/2017   EUR     28.50
Lehman Brothers Treasury Co   2.88    3/14/2013   CHF      9.25
Western Bulk Chartering AS    7.86    4/19/2019   NOK     71.00
HSBC France SA                1.03                EUR     48.00
PNE Wind AG                   3.75   10/10/2019   EUR      3.05
AKB Peresvet ZAO             13.00    10/7/2017   RUB     35.00
Golden Energy Offshore Serv   5.00   12/31/2017   NOK     28.00
Bashneft PJSC                 9.50   12/14/2023   RUB     60.00
UniCredit Bank Austria AG     0.18   12/31/2031   EUR     68.49
BLT Finance BV               12.00    2/10/2015   USD     10.50
Espirito Santo Financial Po   5.63    7/28/2017   EUR      0.37
Waste Italia SpA             10.50   11/15/2019   EUR     24.88
Gol LuxCo SA                  8.88    1/24/2022   USD     67.43
Standard Chartered PLC        0.69                GBP     65.12
Ajecorp BV                    6.50    5/14/2022   USD     51.37
Governo Portugues Consolida   3.00                EUR     73.10
Bank of Scotland PLC          1.56                USD     70.28
Municipality Finance PLC      0.50    7/30/2029   AUD     66.57
Oceanic Champion AS           8.00    2/20/2020   USD     68.44
Indo Energy Finance II BV     6.38    1/24/2023   USD     76.74
A-TEC Industries AG           2.75    5/10/2014   EUR      2.00
ADLER Real Estate AG          6.00    6/30/2017   EUR     13.50
Municipality Finance PLC      0.50     5/8/2029   AUD     62.78
Volksbank NV                  6.63    5/14/2018   EUR      3.23
Banco Espirito Santo SA       6.90    6/28/2024   EUR     24.38
Bremer Landesbank Kreditans   9.50                EUR     67.55
Agroton Public Ltd            6.00    7/14/2019   USD     14.00
Svensk Exportkredit AB        0.50    6/28/2022   ZAR     59.87
Assystem                      4.00     1/1/2017   EUR     25.46
ADLER Real Estate AG          6.00   12/27/2018   EUR     14.00
Abengoa Greenfield SA         5.50    10/1/2019   EUR      3.88
Societe Generale SA           1.60     1/9/2020   GBP      1.08
Kaupthing ehf                 5.75    10/4/2011   USD     17.63
Lehman Brothers Treasury Co   7.00    5/17/2035   EUR      9.25
HPI AG                        3.50                EUR      5.00
Anglian Water Services Fina   0.94    1/26/2057   GBP     74.98
Immigon Portfolioabbau AG     6.00    3/30/2017   EUR     59.00
DOF ASA                       8.17    9/12/2019   NOK     40.00
Transcapitalbank JSC         13.00     6/6/2018   RUB     70.00
syncreon Group BV / syncreo   8.63    11/1/2021   USD     73.38
Banco Espirito Santo SA      10.00    12/6/2021   EUR      0.41
Municipality Finance PLC      0.50    4/26/2022   ZAR     60.62
Cooperatieve Rabobank UA      0.50    1/31/2033   MXN     22.32
Abengoa Finance SA            6.00    3/31/2021   EUR      3.86
Virgolino de Oliveira Finan  10.50    1/28/2018   USD      6.57
Deutsche Bank AG/London       0.58    1/31/2033   USD     54.00
Barclays Bank PLC             3.49    3/27/2029   USD     60.77
Gazprom PJSC                  6.40   10/21/2043   RUB     60.06
Mriya Agro Holding PLC        9.45    4/19/2018   USD      5.13
City of Alba Iulia Romania    1.50    4/15/2025   RON     72.10
Espirito Santo Financial Gr   5.05   11/15/2025   EUR      0.38
Russian Post FGUP             9.35    9/10/2026   RUB     70.00
Republic of Italy Governmen   0.19    7/31/2045   EUR     72.42
Sparebanken Din               2.39                NOK     67.46
German Pellets GmbH           8.00                EUR      0.10
Barclays Bank PLC             0.75    4/19/2033   USD     55.15
Nuova Banca Popolare dell'E   1.68    9/28/2017   EUR      0.81
Barclays Bank PLC             6.64    3/27/2029   USD     69.43
HSBC Bank PLC                 0.50    4/27/2027   NZD     60.54
AgroGeneration                8.00     4/1/2019   EUR     69.30
La Veggia Finance SPA         7.13   11/14/2004   EUR      0.15
LBI HF                        2.25    2/14/2011   CHF      6.63
Takko Luxembourg 2 SCA        6.69    4/15/2019   EUR     73.00
Virgolino de Oliveira Finan  11.75     2/9/2022   USD      6.57
Lehman Brothers Treasury Co   8.25    3/16/2035   EUR      9.25
Northland Resources AB        4.00   10/15/2020   NOK      0.07
Orient Express Bank PJSC     13.60     8/9/2018   RUB     63.75
Salvator Grundbesitz-AG       9.50   12/31/2021   EUR     10.20
Aralco Finance SA            10.13     5/7/2020   USD      1.26
Solon SE                      1.38    12/6/2012   EUR      0.33
Finmek International SA       7.00    12/3/2004   EUR      0.13
Algeco Scotsman Global Fina  10.75   10/15/2019   USD     70.38
Barclays Bank PLC             1.52    7/28/2034   USD     62.82
Kaupthing ehf                 6.13    10/4/2016   USD     17.63
Lehman Brothers Treasury Co   6.65    8/24/2011   AUD      9.63
Vnesheconombank              11.60    2/17/2025   RUB     60.01
Deutsche ETP GmbH & Co Immo   3.00   11/30/2028   EUR
Moscow United Electric Grid  11.00    9/12/2024   RUB     61.22
Kaupthing ehf                 6.13    10/4/2016   USD     17.63
Penell GmbH Elektrogroshand   7.75    6/10/2019   EUR      4.50
State Transport Leasing Co    9.00   11/24/2031   RUB     60.31
Bank Nederlandse Gemeenten    0.50    7/12/2022   ZAR     60.25
UmweltBank AG                 2.85                EUR     50.62
Far East Capital Ltd SA       8.75     5/2/2020   USD     56.25
Governo Portugues Consolida   2.75                EUR     65.50
Barclays Bank PLC             2.84   10/30/2034   USD     68.72
Lehman Brothers Treasury Co   5.00    9/22/2014   EUR      9.25
Lehman Brothers Treasury Co   5.00    2/16/2015   EUR      9.25
Pongs & Zahn AG               8.50                EUR      0.34
IVG Immobilien AG             5.54                EUR      0.48
Heliocentris Energy Solutio   4.00    1/16/2019   EUR     58.09
Depfa Funding IV LP           5.03                EUR     56.88
Lehman Brothers Treasury Co   6.00    3/18/2015   USD      9.25
Kaupthing ehf                 9.00                USD      0.13
KPNQwest NV                   8.13     6/1/2009   USD      0.06
Bank Nederlandse Gemeenten    0.50    9/20/2022   MXN     62.05
AKB Peresvet ZAO             13.25    6/22/2017   RUB     37.06
Frigoglass Finance BV         8.25    5/15/2018   EUR     63.75
Blaker Sparebank              4.83                NOK     41.54
NIBC Bank NV                  3.01                USD     72.93
Standard Chartered PLC        1.21                USD     66.33
AKB Peresvet ZAO             12.50     9/6/2017   RUB     33.04
Barclays Bank PLC             0.55    8/31/2031   USD     68.20
AKB Peresvet ZAO             13.25    4/25/2018   RUB     35.00
OAS Investments GmbH          8.25   10/19/2019   USD      4.10
Lehman Brothers Treasury Co   7.00     6/6/2017   EUR      1.21
SG Option Europe SA           7.00     5/5/2017   EUR     66.75
Lloyds Bank PLC               2.45   10/25/2033   USD     73.00
Russian Post FGUP             9.35   10/18/2019   RUB     62.00
Bashneft PJSC                 9.30   10/15/2026   RUB     60.00
Heta Asset Resolution AG      0.27   12/31/2023   EUR     39.25
Royal Bank of Scotland PLC/   2.65    2/25/2031   USD     66.00
Barclays Bank PLC             3.41    5/30/2034   USD     67.32
VEB-Leasing OAO              12.50    2/20/2025   RUB     61.16
Virgolino de Oliveira Finan  10.88    1/13/2020   USD     26.25
Santander Finance Capital S   2.00                USD     43.00
Matalan Finance PLC           8.88     6/1/2020   GBP     69.88
Veneto Banca SpA              1.69    5/15/2019   EUR     70.50
Depfa Funding II LP           6.50                EUR     56.00
Credit Suisse AG/London      10.00    6/28/2017   USD     54.50
AKB Peresvet ZAO             13.25    11/6/2020   RUB     22.02
SpareBank 1 Nordvest          3.94    3/11/2099   NOK     69.04
Mifa Mitteldeutsche Fahrrad   7.50    8/12/2018   EUR      2.67
Credit Suisse AG/London       8.00    5/21/2025   USD      9.09
Montepio Holding SGPS SA      5.00                EUR     50.10
DEIKON GmbH                   1.00     7/1/2016   EUR     29.57
SAir Group                    6.25   10/27/2002   CHF     12.53
Abengoa SA                    5.13     3/5/2017   USD      3.21
BLT Finance BV                7.50    5/15/2014   USD      2.20
WPE International Cooperati  10.38    9/30/2020   USD     14.88
Cooperatieve Rabobank UA      0.50   11/30/2027   MXN     37.36
Vnesheconombank               9.75    8/16/2029   RUB     60.00
EFG International Finance G   2.10    3/23/2018   EUR     10.16
Landes-Hypothekenbank Steie   0.02    9/26/2043   EUR     71.99
Bank Intesa AO                9.75   10/10/2019   RUB     60.00
Novo Banco SA                 3.00   12/16/2021   EUR     53.88
Lehman Brothers Treasury Co   5.55    3/12/2015   EUR      1.21
Bibby Offshore Services PLC   7.50    6/15/2021   GBP     60.50
Abengoa SA                    5.13     3/5/2017   USD      3.21
Immigon Portfolioabbau AG     7.00     3/6/2021   EUR     33.50
Hypo Tirol Bank AG            0.17    7/23/2026   EUR     66.87
Petromena ASA                10.85   11/19/2014   USD      0.55
Landesbank Hessen-Thueringe   0.12     5/3/2041   EUR     62.67
Hamburgische Landesbank-Gir   0.07    1/22/2041   EUR     61.83
World of Building Technolog   7.70    6/25/2019   RUB      1.45
Lehman Brothers Treasury Co   6.00    3/14/2011   EUR      9.25
Lehman Brothers Treasury Co   1.00     5/9/2012   EUR      1.21
Lehman Brothers Treasury Co   6.00   10/30/2012   EUR      1.21
CHC Helicopter SA             9.25   10/15/2020   USD     47.25
PagesJaunes Finance & Co SC   8.88     6/1/2018   EUR     62.00
Lehman Brothers Treasury Co   3.03    1/31/2015   EUR      1.21
Espirito Santo Financial Gr   5.05   11/15/2025   EUR      0.38
Heta Asset Resolution AG      0.45   12/31/2023   EUR     39.25
SAir Group                    6.25    4/12/2005   CHF     12.50
Phones4u Finance PLC          9.50     4/1/2018   GBP     66.00
Lehman Brothers Treasury Co   8.25    12/3/2015   EUR      9.25
Marine Subsea AS              9.00   12/16/2019   USD      0.50
UkrLandFarming PLC           10.88    3/26/2018   USD     29.88
SpareBank 1 SR-Bank ASA       4.00   12/21/2030   EUR     74.70
Republic of Italy Governmen   0.30    7/31/2035   EUR     74.57
Mechel PJSC                   8.00     2/9/2021   RUB     70.01
Marfin Investment Group Hol   7.00    7/29/2019   EUR      1.00
MT-Energie GmbH & Co KG       8.25     4/4/2017   EUR      8.41
State of Carinthia            0.77    7/20/2017   CHF      0.20
International Finance Facil   0.50    6/29/2027   ZAR     35.04
Lehman Brothers Treasury Co   7.00   11/26/2013   EUR      9.25
Lehman Brothers Treasury Co   1.46    2/19/2012   JPY      9.25
MegaFon PJSC                  9.90    5/29/2026   RUB     62.00
Oberoesterreichische Landes   0.30    4/25/2042   EUR     52.88
Lehman Brothers Treasury Co  11.00   12/20/2017   AUD      1.21
Lehman Brothers Treasury Co   4.50     5/2/2017   EUR      9.25
Lehman Brothers Treasury Co   4.00    12/2/2012   EUR      1.21
UBS AG/London                14.50    5/26/2017   CHF     67.50
Lehman Brothers Treasury Co   5.25    5/26/2026   EUR      1.21
Lehman Brothers Treasury Co   4.00   10/24/2012   EUR      1.21
AKB Peresvet ZAO              9.80     9/2/2020   RUB     25.35
Bank Nederlandse Gemeenten    0.50     8/9/2022   MXN     62.69
Barclays Bank PLC             0.50     2/6/2024   AUD     73.80
Solarwatt GmbH                7.00    11/1/2015   EUR     14.50
NIBC Bank NV                  3.01                USD     72.93
Societe Generale SA           0.53    6/28/2033   USD     72.10
State Transport Leasing Co    9.20     9/5/2031   RUB     60.10
Far East Capital Ltd SA       8.00     5/2/2018   USD     55.54
Lehman Brothers Treasury Co   5.00    2/27/2014   EUR      9.25
Abengoa SA                    6.25    1/17/2019   EUR      2.64
Landesbank Hessen-Thueringe   0.13    4/23/2041   EUR     65.56
Lehman Brothers Treasury Co   4.00    2/16/2017   EUR      9.25
AKB Peresvet ZAO             12.75    7/24/2018   RUB     33.10
Bulgaria Steel Finance BV    12.00     5/4/2013   EUR      2.46
Svensk Exportkredit AB        0.50    6/29/2029   AUD     58.94
Minaya Capital AG             7.00     8/1/2018   EUR     66.00
SG Issuer SA                  5.05    4/10/2025   EUR     55.56
Raiffeisen Centrobank AG      6.70    3/13/2017   EUR     59.86
Lehman Brothers Treasury Co  10.00     8/2/2037   JPY      1.21
Raiffeisen Versicherung AG    5.08                EUR     26.31
Aldesa Financial Services S   7.25     4/1/2021   EUR     67.75
Marfin Investment Group Hol   6.30    7/29/2020   EUR      0.85
Finans-Avia OOO               0.01    7/31/2027   RUB     18.90
Province of Milan Italy       0.07   12/22/2033   EUR     68.66
Kommunalbanken AS             0.50    5/27/2022   ZAR     61.99
LBI HF                        6.10    8/25/2011   USD     11.13
UniCredit Bank Austria AG     0.04    1/25/2031   EUR     68.52
UniCredit Bank AO             9.00     8/6/2019   RUB     60.00
Atari SA                      7.50    2/17/2020   EUR      0.33
Gazprombank JSC              10.90    2/19/2021   RUB     60.00
Lehman Brothers Treasury Co   7.60    5/21/2013   USD      1.21
Hamburgische Landesbank-Gir   0.07   10/30/2040   EUR     64.16
SAir Group                    0.13     7/7/2005   CHF     12.50
BNP Paribas SA                0.50    9/29/2029   AUD     54.78
Societe Generale SA           1.00   12/22/2017   GBP      1.00
Mechel PJSC                   8.00     2/9/2021   RUB     60.01
Muehl Product & Service AG    6.75    3/10/2005   DEM      2.41
Lehman Brothers Treasury Co   4.00    4/13/2011   CHF      1.21
Banca Nazionale del Lavoro    1.68    6/15/2037   EUR     74.76
wige MEDIA AG                 6.00    3/17/2019   EUR      2.33
Banco Comercial Portugues S   5.00                EUR     50.00
Salvator Grundbesitz-AG       9.50                EUR     21.00
HSBC Bank PLC                 0.50   10/30/2026   NZD     62.13
Finans-Avia OOO               8.25    7/31/2022   RUB     65.39
Lehman Brothers Treasury Co   5.00    5/12/2011   CHF      1.21
Svensk Exportkredit AB        0.50   12/17/2027   USD     74.22
Lloyds Bank PLC               3.00    7/26/2033   USD     69.65
Western High-Speed Diameter   9.15     2/6/2032   RUB     60.01
Metalloinvest Holding Co OA   0.01    3/10/2022   RUB     60.00
BNP Paribas SA                0.50     5/6/2021   MXN     70.90
Russian Post FGUP             2.75    12/6/2023   RUB     67.03
Landes-Hypothekenbank Steie   0.10     3/7/2043   EUR     72.99
Lehman Brothers Treasury Co  11.75     3/1/2010   EUR      1.21
SAir Group                    4.25     2/2/2007   CHF     12.50
Lehman Brothers Treasury Co   5.50     7/8/2013   EUR      1.21
Kaupthing ehf                 5.25    7/18/2017   BGN     17.63
Lehman Brothers Treasury Co   5.00     5/2/2022   EUR      1.21
Bayerische Landesbank         2.60    3/29/2018   EUR     70.28
SAir Group                    2.13    11/4/2004   CHF     12.50
Svensk Exportkredit AB        0.50    8/29/2029   AUD     58.39
Russian Railways JSC          6.40     6/8/2028   RUB     60.00
Nuova Banca Popolare dell'E   3.50    6/28/2018   EUR      0.78
Banco Espirito Santo SA       1.24    5/27/2018   EUR      0.49
Barclays Bank PLC             9.00    6/16/2017   USD
Miratorg-Finans OOO          11.00    8/24/2021   RUB     60.00
OOO SPV Structural Investme   0.01     9/1/2023   RUB     65.00
International Finance Facil   0.50    6/29/2020   ZAR     72.91
Atari SA                      0.10     4/1/2020   EUR      3.88
Johnston Press Bond Plc       8.63     6/1/2019   GBP     62.75
Lehman Brothers Treasury Co   8.00    3/19/2012   USD      1.21
Bank Nederlandse Gemeenten    0.50    6/22/2021   ZAR     66.63
Credit Agricole Corporate &   0.50     3/6/2023   RUB     62.13
Ekotechnika AG                9.75    5/10/2018   EUR      9.50
Western High-Speed Diameter   9.15     2/6/2032   RUB     60.01
Lehman Brothers Treasury Co   4.00    7/27/2011   EUR      1.21
UBS AG/London                 3.50    3/24/2017   EUR     74.23
Norddeutsche Landesbank Gir   3.00    7/16/2018   EUR     70.63
Ideal Standard Internationa  11.75     5/1/2018   EUR     11.88
Raiffeisenbank AO             0.01   10/29/2018   RUB     72.01
WGF Westfaelische Grundbesi   6.35     8/1/2017   EUR      3.63
Gazprom PJSC                  6.40   10/21/2043   RUB     60.06
Brighthouse Group PLC         7.88    5/15/2018   GBP     68.88
Lehman Brothers Treasury Co   6.00   10/24/2008   EUR      1.21
Barclays Bank PLC             2.24    8/15/2033   USD     62.08
Agrokompleks OOO              0.10    12/8/2022   RUB      1.00
Banca delle Marche SpA        6.00    6/12/2018   EUR      1.00
Abengoa Finance SA            7.00    4/15/2020   EUR      3.80
Western High-Speed Diameter   9.15     2/6/2032   RUB     57.02
Barclays Bank PLC             2.50     3/7/2017   EUR     49.71
Kamaz PJSC                   10.39    12/5/2030   RUB     60.01
Eiendomskreditt               4.48                NOK     58.60
Holdikks SAS                  6.75    7/15/2021   EUR     71.38
Mechel PJSC                  12.50    7/15/2021   RUB     72.00
Astana Finance BV             9.00   11/16/2011   USD     16.88
HSBC Bank PLC                 0.50   12/29/2026   AUD     62.09
Societe Generale SA          10.00    7/31/2018   USD     74.98
Argon Capital PLC for Royal   2.70                GBP     70.25
Immigon Portfolioabbau AG     3.51    4/12/2022   EUR     15.00
RGS Nedvizhimost OOO         12.50    6/21/2021   RUB     60.03
AKB Peresvet ZAO             13.50    6/23/2021   RUB     27.02
Lloyds Bank PLC               0.50    7/26/2021   BRL     62.22
HSBC Bank PLC                 0.50   12/22/2025   BRL     45.20
Steiermaerkische Bank und S   1.25                EUR     51.05
DekaBank Deutsche Girozentr   0.01    6/29/2046   EUR     55.17
Barclays Bank PLC             0.50    3/26/2021   MXN     67.84
Dolomite Capital Ltd         13.26   12/20/2019   ZAR     64.80
Vegarshei Sparebank           5.10                NOK     61.86
Oberoesterreichische Landes   0.32    11/6/2030   EUR     67.88
BNP Paribas SA                0.50    2/13/2024   NZD     72.04
Zapsibcombank PAO            14.85   12/12/2019   RUB     50.00
Lehman Brothers Treasury Co   7.50   10/24/2008   USD      1.21
Lehman Brothers Treasury Co   4.50     3/6/2013   CHF      1.21
Svensk Exportkredit AB        0.50    8/28/2020   TRY     65.29
Tonon Luxembourg SA           7.25    1/24/2020   USD     11.13
Lehman Brothers Treasury Co   6.00    9/20/2011   EUR      1.21
Russian Railways JSC          7.10   11/29/2028   RUB     60.00
Nuova Banca delle Marche Sp   7.75    6/30/2018   EUR      1.24
City of Kiev Ukraine Via CS   8.00    11/6/2015   USD     70.38
Lehman Brothers Treasury Co  11.00   12/19/2011   USD      1.21
Province of Brescia Italy     0.11   12/22/2036   EUR     63.31
Rosbank PJSC                  0.01    2/26/2024   RUB     70.00
Phosphorus Holdco PLC        10.00     4/1/2019   GBP      3.29
Russian Bank for Small and   14.00    3/17/2022   RUB     61.02
Russian Railways JSC         13.90    5/30/2040   RUB     65.00
Deutsche Bank AG/London       1.52     9/2/2036   JPY     68.15
Deutsche Bank AG/London       0.50    10/5/2021   IDR     60.00
Svensk Exportkredit AB        0.50    1/31/2022   ZAR     63.37
Afren PLC                    10.25     4/8/2019   USD      0.07
Metalloinvest Holding Co OA   0.01     3/7/2022   RUB     60.01
RGS Nedvizhimost OOO         13.50    1/19/2021   RUB     60.03
UniCredit Bank AO            12.00   11/20/2019   RUB     60.11
City of Siret Romania         2.24     3/1/2028   RON     51.00
Podkarpacki Bank Spoldzielc   5.81     7/2/2020   PLN     57.90
Nuova Banca Popolare dell'E   5.00   10/30/2023   EUR      0.78
Pierer Industrie AG           5.75                EUR     52.50
Cerruti Finance SA            6.50    7/26/2004   EUR      1.29
Evrofinansy-Nedvizhimost OO  11.00   10/23/2020   RUB     60.13
Bank Julius Baer & Co Ltd/G  23.00     8/4/2017   USD     74.20
Immigon Portfolioabbau AG     8.69    7/26/2025   EUR     15.00
Credit Europe Bank Ltd       11.00     4/6/2018   RUB     60.11
Bilt Paper BV                 9.64                USD     49.38
Orient Express Bank PJSC     11.70    7/17/2018   RUB     70.01
Alpha Bank AE                 2.50    6/20/2022   EUR     67.83
Alpha Bank AE                 2.50    6/20/2022   EUR     67.85
LBI HF                        7.43                USD      0.00
ECM Real Estate Investments   5.00    10/9/2011   EUR     10.38
Driver & Bengsch AG           8.50   12/31/2027   EUR      0.00
UBS AG                       11.75   12/22/2017   EUR     44.59
Delta-Finance OOO            10.00    1/19/2021   RUB
Lillestroem Sparebank         4.63                NOK     52.19
Societe Generale SA           0.50    5/30/2023   MXN     57.56
HSBC Bank PLC                 0.50    6/10/2021   BRL     66.99
Immigon Portfolioabbau AG     8.69    7/26/2020   EUR     15.00
Pravourmiyskoe OOO            9.00   12/26/2019   RUB     60.01
Barclays Bank PLC             0.50    3/13/2023   RUB     62.14
Lehman Brothers Treasury Co   7.00   10/22/2010   EUR      1.21
Lehman Brothers Treasury Co   8.00    3/21/2018   USD      1.21
Nutritek International Corp   8.75   12/11/2008   USD      2.00
Realwerte GmBh & Co KG        1.20                EUR     42.86
UniCredit Bank AO             9.00    5/17/2019   RUB     60.03
Mriya Agro Holding PLC       10.95    3/30/2016   USD      4.95
Dresdner Bank AG              0.38   11/19/2029   EUR     65.38
SG Issuer SA                  0.78    6/15/2020   SEK     70.92
Northland Resources AB       12.25    3/26/2016   USD      0.44
Russian Railways JSC          7.10    4/29/2043   RUB     60.00
Lehman Brothers Treasury Co  23.30    9/16/2008   USD      1.21
BAWAG PSK Versicherungs AG    1.06                EUR     46.49
Kaupthing ehf                 9.75    9/10/2015   USD     17.63
Lehman Brothers Treasury Co   8.00    2/16/2016   EUR      1.21
Rinol AG                      5.50   10/15/2006   DEM      0.00
Lehman Brothers Treasury Co   3.50   12/20/2027   USD      1.21
BLT Finance BV                7.50    5/15/2014   USD      2.20
Credit Suisse AG/London       9.50   11/15/2019   USD      5.23
Stroytemp CJSC                9.00   11/13/2019   RUB      0.01
Russian Railways JSC          7.40    9/20/2039   RUB     60.00
Mortgage Agent AHML 10-1      9.00   11/20/2042   RUB     60.01
Province of Rovigo Italy      0.06   12/28/2035   EUR     65.05
Province of Brescia Italy     0.14    6/30/2036   EUR     64.27
Indre Sogn Sparebank          5.98                NOK     62.02
ENEL RUSSIA PJSC             12.10    5/22/2025   RUB     60.00
SAir Group                    5.13     3/1/2003   CHF     13.00
Podkarpacki Bank Spoldzielc   4.99    10/6/2021   PLN     54.00
Elli Investments Ltd         12.25    6/15/2020   GBP     45.13
Bank Julius Baer & Co Ltd/G  14.40    11/2/2017   CHF     66.95
Union Technologies Informat   0.10     1/1/2020   EUR
Lehman Brothers Treasury Co   8.80   12/27/2009   EUR      1.21
Gold-Zack AG                  7.00   12/14/2005   EUR     12.56
UniCredit Bank AG             4.00    3/21/2017   EUR     65.17
Notenstein Finance Guernsey   1.00    9/17/2019   CHF     62.98
Promnefteservis OOO          10.50   11/21/2019   RUB      1.05
Bayerische Landesbank         2.40    7/20/2018   EUR     72.05
Lehman Brothers Treasury Co   5.00   10/24/2008   CHF      1.21
Lehman Brothers Treasury Co   1.75     2/7/2010   EUR      1.21
Russian Railways JSC          8.20    8/18/2033   RUB     60.00
KPNQwest NV                   7.13     6/1/2009   EUR      0.06
Lehman Brothers Treasury Co   6.00    2/19/2023   USD      1.21
Lehman Brothers Treasury Co   8.88    1/28/2011   HKD      9.63
UniCredit Bank Austria AG     0.20    1/22/2031   EUR     70.19
City of Hunedoara Romania     1.43    8/15/2026   RON     70.10
Lehman Brothers Treasury Co   9.75    6/22/2018   USD      1.21
Lehman Brothers Treasury Co   0.50     7/2/2020   EUR      1.21
UBS AG                        4.75   12/22/2017   EUR     57.75
Biomed-Lublin Wytwornia Sur   7.29    8/14/2018   PLN     75.00
Lehman Brothers Treasury Co   7.50    7/31/2013   GBP      1.21
Svensk Exportkredit AB        0.10   11/20/2019   TRY     70.54
City of Predeal Romania       1.50    5/15/2026   RON     60.00
Enemona AD-Kozloduy          10.00    4/28/2017   BGN      0.06
Lehman Brothers Treasury Co   5.00    2/28/2032   EUR      1.21
City of Moscow Russia         7.50    5/18/2021   RUB     60.00
Municipiul Timisoara          0.64    5/15/2026   RON     64.20
SAir Group                    5.50    7/23/2003   CHF     12.50
ECA                           2.50     1/1/2018   EUR     11.21
Agrokompleks OOO              0.10    7/29/2019   RUB      2.71
Drangedal Sparebank           2.36                NOK     65.99
Lehman Brothers Treasury Co  16.20    5/14/2009   USD      1.21
International Industrial Ba   9.00     7/6/2011   EUR      0.49
Cattles Ltd                   7.13     7/5/2017   GBP      1.05
SAir Group                    2.75    7/30/2004   CHF     12.50
Norddeutsche Landesbank Gir   3.00   10/30/2018   EUR     67.06
Credit Suisse AG/London       0.50     1/8/2026   BRL     40.23
Bayerische Landesbank         2.70    7/13/2018   EUR     71.64
Lehman Brothers Treasury Co   8.60    7/31/2013   GBP      1.21
Lehman Brothers Treasury Co   3.86    9/21/2011   SGD      9.63
Lehman Brothers Treasury Co   7.38    9/20/2008   EUR      1.21
Sidetur Finance BV           10.00    4/20/2016   USD      5.25
Credit Suisse AG              0.50   12/16/2025   BRL     41.39
Societe Generale SA           0.50    7/31/2020   MXN     74.66
Lehman Brothers Treasury Co   2.00    6/28/2011   EUR      1.21
Leonteq Securities AG        16.40     2/6/2017   CHF     36.56
Raiffeisen Centrobank AG      9.50    7/13/2017   EUR     66.11
UBS AG/London                 5.75     6/6/2017   CHF     74.70
Russian Railways JSC          6.80    5/20/2044   RUB     65.00
Lehman Brothers Treasury Co   7.32    7/31/2013   GBP      1.21
Lehman Brothers Treasury Co   1.28    11/6/2010   JPY      9.25
Hypocredit AD                 7.50   12/18/2017   EUR     40.00
Fonciere Volta SA             4.50    7/30/2020   EUR      2.61
Lehman Brothers Treasury Co   7.50     5/2/2017   EUR      1.21
Barclays Bank PLC             0.50    1/28/2033   MXN     20.50
HSBC Bank PLC                 0.50    5/29/2020   IDR     73.16
Reserve Trust Co CJSC        11.00     1/4/2027   RUB      0.01
Metalloinvest Holding Co OA   0.01     3/7/2022   RUB     65.00
Strommen Sparebank            2.36                NOK     37.91
Lehman Brothers Treasury Co   4.00     1/4/2011   USD      1.21
Astana Finance BV             7.88     6/8/2010   EUR     16.88
DekaBank Deutsche Girozentr   3.00     5/4/2018   EUR     66.43
Landesbank Baden-Wuerttembe   4.20    6/23/2017   EUR     59.84
SAir Group                    2.75    7/30/2004   CHF     12.50
RGS Nedvizhimost OOO         12.50    7/22/2021   RUB     60.03
Vontobel Financial Products   5.00    2/13/2017   EUR     62.19
Vnesheconombank               2.00    6/18/2021   RUB     72.35
Lehman Brothers Treasury Co   7.25    10/6/2008   EUR      1.21
Lehman Brothers Treasury Co   4.60     7/6/2016   EUR      1.21
Main Road OJSC                5.40   11/22/2028   RUB     63.23
Svensk Exportkredit AB        0.50    3/15/2022   ZAR     61.33
Windreich GmbH                6.25     3/1/2015   EUR     10.88
UBS AG/London                 8.00    7/10/2017   CHF     72.65
Vnesheconombank              11.50    8/20/2020   RUB     60.51
Municipality Finance PLC      0.50    6/19/2024   ZAR     50.16
Russian Railways JSC          6.40    2/28/2040   RUB     65.00
Bayerische Landesbank         2.70     7/6/2018   EUR     68.16
UBS AG/London                12.50     1/3/2017   CHF     36.15
Lehman Brothers Treasury Co   4.00    8/11/2010   USD      9.25
Municipiul Timisoara          0.64    5/12/2026   RON     75.00
Lehman Brothers Treasury Co   4.60   10/11/2017   ILS      9.25
Landesbank Hessen-Thueringe   5.00   10/17/2017   EUR     67.07
Credit Suisse AG/London       8.95     6/6/2017   USD     71.08
Bayerische Landesbank         2.70    7/20/2018   EUR     71.86
UBS AG/London                 7.00     7/3/2017   CHF     67.95
LZMO SA                       8.50    6/30/2017   PLN     25.00
Leonteq Securities AG/Guern  29.61   10/26/2017   EUR     22.00
Lehman Brothers Treasury Co   8.28    7/31/2013   GBP      1.21
HSH Nordbank AG               7.25                USD     23.02
Immigon Portfolioabbau AG     1.31    7/29/2018   EUR      2.00
Lehman Brothers Treasury Co   4.25    3/13/2021   EUR      1.21
Lehman Brothers Treasury Co   2.50   12/15/2011   GBP      1.21
OT-Optima Telekom DD          5.25    5/30/2022   HRK     65.00
Lehman Brothers Treasury Co  14.90    9/15/2008   EUR      1.21
Lehman Brothers Treasury Co   5.25   11/21/2009   USD      1.21
Zapsibcombank PAO             5.00     9/4/2017   RUB     60.00
Novo Banco SA                 5.00    4/23/2019   EUR     68.09
URALSIB Leasing Co OOO       10.50    4/17/2018   RUB      0.01
Windreich GmbH                6.75     3/1/2015   EUR     10.88
BANIF - Banco Internacional   4.50    1/30/2025   EUR     65.25
Bayerische Landesbank         2.70     7/6/2018   EUR     67.31
Credit Suisse AG/Nassau       4.25    4/24/2017   CHF     73.51
Emova Group                   4.30     5/2/2022   EUR      4.72
Lehman Brothers Treasury Co  10.44   11/22/2008   CHF      1.21
Lehman Brothers Treasury Co  13.50   11/28/2008   USD      1.21
COFIDUR SA                    0.10   12/31/2024   EUR     19.00
Bank Julius Baer & Co Ltd/G  10.90    7/26/2017   CHF     62.80
EFG International Finance G   6.48    5/29/2018   EUR     10.35
HSBC Bank PLC                 0.50    7/21/2021   BRL     66.11
Bank Julius Baer & Co Ltd/G   9.40     2/9/2017   CHF     29.05
DekaBank Deutsche Girozentr   0.12    6/23/2034   EUR     72.55
Bayerische Landesbank         3.20    7/27/2018   EUR     69.15
Bayerische Landesbank         2.70    7/27/2018   EUR     72.65
Bayerische Landesbank         2.90    6/22/2018   EUR     71.09
Bayerische Landesbank         2.70    6/22/2018   EUR     73.06
Societe Generale SA           0.50     7/6/2021   BRL     63.85
Lehman Brothers Treasury Co   6.50    5/16/2015   EUR      1.21
Lehman Brothers Treasury Co   2.00    6/21/2011   EUR      1.21
Lehman Brothers Treasury Co   6.00    5/12/2017   EUR      1.21
Nuova Banca delle Marche Sp   8.00    6/30/2018   EUR      1.24
Russian Railways JSC          6.40    9/19/2033   RUB     60.00
EDOB Abwicklungs AG           7.50     4/1/2012   EUR      0.25
Credit Suisse AG/London       7.80    7/16/2025   USD      9.22
Bayerische Landesbank         2.60    8/24/2018   EUR     69.86
Bayerische Landesbank         3.00    10/5/2018   EUR     75.00
Leonteq Securities AG/Guern   4.40    8/28/2017   CHF     60.92
Lehman Brothers Treasury Co  10.00    6/17/2009   USD      1.21
Lehman Brothers Treasury Co   8.00   10/17/2014   EUR      1.21
Lehman Brothers Treasury Co   6.30   12/21/2018   USD      1.21
Kaupthing ehf                 7.63    2/28/2015   USD     17.63
KPNQwest NV                   8.88     2/1/2008   EUR      0.06
Lehman Brothers Treasury Co  15.00     6/4/2009   CHF      1.21
Lehman Brothers Treasury Co   0.25   10/19/2012   CHF      1.21
BNP Paribas Emissions- und   27.00    3/23/2017   EUR     73.51
Immigon Portfolioabbau AG     5.05     8/5/2030   EUR     72.38
Kommunekredit                 0.50   12/14/2020   ZAR     71.17
Oravita City Council          1.97    6/15/2027   RON     75.00
Russian Railways JSC          7.40   10/11/2038   RUB     60.00
Societe Generale SA           0.50    6/12/2023   RUB     60.75
Municipiul Timisoara          0.64    5/15/2026   RON     60.87
BNP Paribas SA                0.50    7/20/2021   BRL     62.78
Societe Generale SA           0.50    5/22/2024   MXN     52.04
AKB Derzhava OJSC            11.50    7/10/2023   RUB     60.01
HSBC Bank PLC                 0.50    4/11/2023   MXN     58.35
Societe Generale SA           0.50     4/3/2023   RUB     61.89
UBS AG/London                11.00    2/24/2017   CHF     47.35
Exane Finance                 5.00   12/20/2019   SEK     64.40
Credit Suisse AG/Nassau       7.90    2/27/2017   CHF     70.82
Bank Julius Baer & Co Ltd/G   6.50     3/6/2017   CHF     72.95
Commerzbank AG                8.00    7/14/2021   USD
Lehman Brothers Treasury Co   5.00   11/22/2012   EUR      1.21
Lehman Brothers Treasury Co   6.25     9/5/2011   EUR      1.21
LBI HF                        7.43                USD      0.00
Lehman Brothers Treasury Co   4.00    3/10/2011   EUR      1.21
Lehman Brothers Treasury Co   7.15    3/21/2013   USD      1.21
LBI HF                        8.65     5/1/2011   ISK      6.63
Nuova Banca Popolare dell'E   2.19    5/21/2018   EUR      0.81
Lehman Brothers Treasury Co   4.87    10/8/2013   USD      1.21
Lehman Brothers Treasury Co   6.00     8/7/2013   EUR      1.21
Lehman Brothers Treasury Co   7.39     5/4/2017   USD      1.21
Lehman Brothers Treasury Co   4.10    6/10/2014   SGD      9.63
UBS AG                        5.25   12/22/2017   EUR     64.29
Credit Suisse AG/London       8.20   10/22/2025   USD      9.32
EFG International Finance G   7.00   11/27/2019   EUR     29.14
Bank Julius Baer & Co Ltd/G  12.15    11/8/2017   CHF     67.95
Lehman Brothers Treasury Co   3.40    3/19/2018   JPY      1.21
Bank Nederlandse Gemeenten    0.50    5/12/2021   ZAR     68.29
Raiffeisen-Landesbank Tirol   2.50     9/2/2024   EUR     72.55
Nuova Banca delle Marche Sp   7.20    6/30/2018   EUR      1.24
Kreditanstalt fuer Wiederau   0.25    10/6/2036   CAD     40.65
Lehman Brothers Treasury Co   8.25     2/3/2016   EUR      1.21
Kaupthing ehf                 7.50     2/1/2045   USD      0.00
Lehman Brothers Treasury Co   7.00    4/14/2009   EUR      1.21
HSBC Bank PLC                 0.50   11/25/2025   BRL     45.49
Kommunalbanken AS             0.50   12/16/2020   TRY     68.86
Barclays Bank PLC             0.79    5/10/2028   USD     65.32
Lehman Brothers Treasury Co   4.82   12/18/2036   EUR      1.21
Banca delle Marche SpA        6.00     5/8/2018   EUR      1.00
Northland Resources AB       15.00    7/15/2019   USD      0.44
Oi Brasil Holdings Cooperat   5.63    6/22/2021   EUR     31.52
UBS AG/London                15.50   11/30/2017   CHF     72.25
Leonteq Securities AG        11.00     1/9/2017   EUR     64.85
HSBC Bank PLC                 0.50    12/8/2026   AUD     67.01
Credit Suisse AG/London       7.80    7/31/2020   USD      9.33
BNP Paribas SA                0.50   11/16/2032   MXN     28.92
Russian Railways JSC         13.90    2/28/2040   RUB     65.00
Leonteq Securities AG         3.50    4/10/2018   EUR     57.85
Rosselkhozbank JSC           12.87   12/21/2021   RUB     65.00
Kaupthing ehf                 3.75    2/15/2024   ISK     17.63
UniCredit Bank Austria AG     0.08    1/24/2031   EUR     68.96
Lehman Brothers Treasury Co   5.00    8/16/2017   EUR     10.00
SG Issuer SA                  6.65   10/10/2021   EUR     63.80
Leonteq Securities AG        10.00     2/6/2017   CHF     63.16
UBS AG/London                11.00    1/27/2017   CHF     29.40
Landesbank Baden-Wuerttembe   3.90    9/22/2017   EUR     40.48
Zurcher Kantonalbank Financ  13.04    4/13/2017   CHF     52.60
Mortgage Agent First St Pet   8.50    7/15/2041   RUB     59.30
Municipality Finance PLC      0.50   11/25/2020   ZAR     69.59
Main Road OJSC                5.40   10/30/2028   RUB     56.01
Bank Julius Baer & Co Ltd/G  10.25    5/17/2017   CHF     54.90
Landeskreditbank Baden-Wuer   0.50    5/10/2027   CAD     74.98
Lehman Brothers Treasury Co   5.00    3/18/2015   EUR      9.25
Lehman Brothers Treasury Co   8.50     7/6/2009   CHF      1.21
Lehman Brothers Treasury Co   4.35     8/8/2016   SGD      9.63
Kaupthing ehf                 5.00     1/4/2027   SKK     17.63
Center-Invest Commercial Ba   8.70   11/13/2018   RUB     60.01
Bank Julius Baer & Co Ltd/G  11.30     6/7/2017   CHF     59.25
EFG International Finance G   6.00   11/30/2017   EUR      8.99
Cooperatieve Rabobank UA      0.50   12/29/2027   MXN     37.24
Zurcher Kantonalbank Financ  12.10     9/6/2017   CHF     66.93
Barclays Bank PLC             1.61    7/24/2028   USD     73.21
Cooperatieve Rabobank UA      0.50    8/21/2028   MXN     34.85
Vnesheconombank               8.35   11/24/2020   RUB     60.01
Barclays Bank PLC             0.50    4/24/2023   MXN     53.58
Barclays Bank PLC             0.50    3/19/2021   MXN     67.87
HSBC Bank PLC                 5.05    5/15/2025   MXN     74.18
Deutsche Bank AG/London       1.20    8/22/2031   JPY     73.04
HSBC Bank PLC                 0.50    1/29/2027   NZD     61.12
HSBC Bank PLC                 0.50    2/24/2027   NZD     61.16
Svensk Exportkredit AB        0.50    2/22/2022   ZAR     62.02
UBS AG/London                 9.50     9/4/2017   CHF     21.25
Goldman Sachs & Co Wertpapi  11.00   12/20/2017   EUR     71.34
Bank Julius Baer & Co Ltd/G  11.60     1/5/2017   CHF     23.50
ECM Real Estate Investments   5.00    10/9/2011   EUR     10.38
Lehman Brothers Treasury Co   6.75     4/5/2012   EUR      1.21
Landesbank Hessen-Thueringe   4.50   11/28/2017   EUR     67.26
UBS AG                       11.75   12/22/2017   EUR     48.16
BNP Paribas Emissions- und   28.00   12/21/2017   EUR     72.12
BNP Paribas Emissions- und   19.00   12/21/2017   EUR     74.24
BNP Paribas Emissions- und   27.00   12/21/2017   EUR     53.27
BNP Paribas Emissions- und   19.00    3/23/2017   EUR     72.91
BNP Paribas Emissions- und   22.00   12/21/2017   EUR     64.95
BNP Paribas Emissions- und   15.00   12/21/2017   EUR     67.59
BNP Paribas Emissions- und   25.00   12/21/2017   EUR     65.58
Societe Generale Effekten G   9.62    6/23/2017   EUR     55.95
UBS AG/London                 7.50    2/10/2017   EUR     73.34
HSBC Trinkaus & Burkhardt A   7.10    3/24/2017   EUR     64.12
Polski Bank Spoldzielczy w    4.81    6/18/2020   PLN     36.01
Center-Invest Commercial Ba  10.00    5/22/2019   RUB     60.11
Lehman Brothers Treasury Co   5.10    6/22/2046   EUR      1.21
Totens Sparebank              2.75                NOK     69.84
City of Alba Iulia Romania    1.50    4/15/2025   RON     68.30
City of Hunedoara Romania     1.43    8/15/2026   RON     70.30
UBS AG/London                 8.40    8/11/2017   EUR     75.00
HSBC Trinkaus & Burkhardt A   5.50    1/31/2017   EUR     69.57
Commerzbank AG                8.75    6/22/2017   EUR     73.09
Commerzbank AG               12.25    6/22/2017   EUR     68.26
Commerzbank AG               16.00    6/22/2017   EUR     64.32
Commerzbank AG               13.75    2/23/2017   EUR     74.03
UBS AG/London                 9.50   12/22/2017   EUR     62.87
UBS AG/London                 5.75   12/22/2017   EUR     72.17
UBS AG/London                 5.00   12/22/2017   EUR     62.68
UBS AG/London                 6.25   12/22/2017   EUR     70.55
UniCredit Bank AG             4.25    9/12/2017   EUR     59.14
Notenstein La Roche Private   5.00    8/29/2018   CHF     65.12
Notenstein La Roche Private   5.00     9/5/2018   CHF     67.62
DZ Bank AG Deutsche Zentral   5.60    3/30/2017   EUR     37.58
DekaBank Deutsche Girozentr   3.05    2/25/2019   EUR     73.82
Vontobel Financial Products   5.35     3/3/2017   EUR     59.66
Vontobel Financial Products   5.40     3/3/2017   EUR     69.72
EFG International Finance G   8.99     9/4/2017   EUR     15.85
Landesbank Hessen-Thueringe   4.00     4/8/2019   EUR     65.03
Leonteq Securities AG         5.25    3/19/2018   CHF     72.96
Notenstein La Roche Private   6.50    3/13/2017   EUR     51.92
UniCredit Bank AG             4.60     7/2/2018   EUR     62.29
Raiffeisen Centrobank AG      6.88    3/30/2017   EUR     61.61
Notenstein La Roche Private   5.00    3/20/2017   CHF     74.83
Leonteq Securities AG         7.00    9/20/2017   CHF     65.50
Commerzbank AG                7.20     3/9/2017   EUR     74.62
Credit Suisse AG/Nassau       5.00    3/27/2017   CHF     73.15
DekaBank Deutsche Girozentr   3.75    3/10/2017   EUR     48.42
UBS AG/London                 5.00    3/20/2017   CHF     74.90
DekaBank Deutsche Girozentr   3.15     2/3/2017   EUR     58.14
Bayerische Landesbank         2.60   10/19/2018   EUR     65.83
Notenstein La Roche Private   4.50    3/27/2018   EUR     58.59
Notenstein La Roche Private   5.50    3/27/2017   CHF     74.72
Notenstein La Roche Private   5.00    3/27/2019   CHF     73.35
Landesbank Hessen-Thueringe   5.00    4/24/2019   EUR     62.04
Landesbank Hessen-Thueringe   6.20    7/24/2020   EUR     73.41
DekaBank Deutsche Girozentr   2.70    3/16/2018   EUR     69.69
UBS AG/London                 5.50    3/27/2017   CHF     74.15
Landesbank Hessen-Thueringe   4.00    4/30/2019   EUR     71.38
Leonteq Securities AG         3.00    10/2/2017   CHF     74.23
Notenstein La Roche Private   4.80   10/24/2018   CHF     74.97
Notenstein La Roche Private   4.20    4/10/2018   EUR     61.36
Notenstein Finance Guernsey   9.00     4/1/2019   EUR     35.91
DekaBank Deutsche Girozentr   2.50    3/31/2017   EUR     68.69
Notenstein La Roche Private   5.70    4/20/2017   CHF     73.49
Notenstein La Roche Private   4.80    4/20/2017   CHF     72.12
Zurcher Kantonalbank Financ   6.50    4/10/2018   CHF     63.10
UBS AG/London                 6.25    4/18/2017   CHF     73.00
Leonteq Securities AG         5.60    4/24/2017   CHF     73.29
Leonteq Securities AG         7.20    4/24/2017   EUR     59.99
Notenstein La Roche Private   6.50     7/2/2018   USD     60.91
UBS AG                        9.00     7/3/2017   CHF     66.90
EFG International Finance G   5.00    8/15/2017   CHF     66.64
Leonteq Securities AG        20.00   10/25/2017   CHF     67.38
Leonteq Securities AG        17.00    8/17/2017   CHF     72.83
HSBC Trinkaus & Burkhardt A   4.00    6/16/2017   EUR     65.52
Vontobel Financial Products   4.00    11/9/2017   EUR     67.67
HSBC Trinkaus & Burkhardt A   9.20    6/23/2017   EUR     72.48
HSBC Trinkaus & Burkhardt A  10.40    1/27/2017   EUR     69.68
HSBC Trinkaus & Burkhardt A  17.00    1/27/2017   EUR     41.55
Goldman Sachs & Co Wertpapi  15.00    1/25/2017   EUR     71.63
Goldman Sachs & Co Wertpapi  19.00    1/25/2017   EUR     67.17
Goldman Sachs & Co Wertpapi  17.00    1/25/2017   EUR     74.72
Goldman Sachs & Co Wertpapi  15.00    1/25/2017   EUR     66.99
Goldman Sachs & Co Wertpapi  19.00    1/25/2017   EUR     61.74
Goldman Sachs & Co Wertpapi  10.00   12/20/2017   EUR     74.54
Goldman Sachs & Co Wertpapi  12.00   12/20/2017   EUR     71.75
Goldman Sachs & Co Wertpapi  19.00    1/25/2017   EUR     71.88
Goldman Sachs & Co Wertpapi  10.00    1/25/2017   EUR     72.48
Goldman Sachs & Co Wertpapi  14.00    1/25/2017   EUR     64.74
Goldman Sachs & Co Wertpapi  18.00    1/25/2017   EUR     60.59
Goldman Sachs & Co Wertpapi   8.00   12/20/2017   EUR     74.53
Goldman Sachs & Co Wertpapi  10.00   12/20/2017   EUR     72.33
Goldman Sachs & Co Wertpapi  11.00   12/20/2017   EUR     69.48
Leonteq Securities AG         8.80    6/21/2017   CHF     72.47
Natixis Structured Issuance  11.70    12/8/2023   EUR     70.00
Notenstein La Roche Private   9.68    6/15/2017   CHF     70.10
Credit Suisse AG/Nassau       7.13    6/26/2017   CHF     68.52
UBS AG/London                 9.75    3/24/2017   EUR     56.86
UBS AG/London                 7.00    3/24/2017   EUR     62.27
Goldman Sachs & Co Wertpapi  18.00    3/22/2017   EUR     69.89
Goldman Sachs & Co Wertpapi  19.00    1/25/2017   EUR     67.51
Goldman Sachs & Co Wertpapi  14.00    3/22/2017   EUR     74.67
Goldman Sachs & Co Wertpapi  17.00    3/22/2017   EUR     69.95
Goldman Sachs & Co Wertpapi  15.00    6/21/2017   EUR     72.97
Goldman Sachs & Co Wertpapi  13.00    9/20/2017   EUR     74.63
Goldman Sachs & Co Wertpapi  22.00    1/25/2017   EUR     73.88
Notenstein La Roche Private   6.00    7/11/2017   CHF     71.55
Credit Suisse AG/Nassau       7.25    7/13/2017   CHF     68.98
Vontobel Financial Products  12.50    3/24/2017   EUR     74.20
DZ Bank AG Deutsche Zentral   5.00    1/27/2017   EUR     71.62
DZ Bank AG Deutsche Zentral   9.50    1/27/2017   EUR     71.59
DZ Bank AG Deutsche Zentral   7.50    6/23/2017   EUR     73.98
UBS AG/London                11.70    4/18/2017   EUR     63.42
Bank Julius Baer & Co Ltd/G   9.00    1/19/2017   CHF     73.75
HSBC Trinkaus & Burkhardt A  20.50    3/24/2017   EUR     74.76
Goldman Sachs & Co Wertpapi  17.00    1/25/2017   EUR     73.64
Goldman Sachs & Co Wertpapi  22.00    1/25/2017   EUR     67.42
Goldman Sachs & Co Wertpapi  20.00    2/22/2017   EUR     68.85
Goldman Sachs & Co Wertpapi  17.00    6/21/2017   EUR     73.60
Goldman Sachs & Co Wertpapi  15.00    2/22/2017   EUR     73.85
Goldman Sachs & Co Wertpapi  19.00    2/22/2017   EUR     68.94
Goldman Sachs & Co Wertpapi  21.00    1/25/2017   EUR     69.72
Goldman Sachs & Co Wertpapi  16.00    6/21/2017   EUR     74.82
Goldman Sachs & Co Wertpapi  20.00    2/22/2017   EUR     71.21
Commerzbank AG                4.00    7/19/2017   EUR     59.13
UBS AG/London                 7.00   12/22/2017   EUR     73.65
UBS AG/London                 7.00   12/22/2017   EUR     67.40
UBS AG/London                 4.00   12/22/2017   EUR     66.12
UBS AG/London                 9.00   12/22/2017   EUR     62.29
UBS AG/London                 7.75   12/22/2017   EUR     41.99
Notenstein La Roche Private   5.04    8/28/2017   CHF     67.87
Leonteq Securities AG/Guern   4.68    8/29/2017   CHF     69.45
Leonteq Securities AG/Guern   5.99    9/11/2017   EUR     44.79
UniCredit Bank AG             4.00   10/14/2019   EUR     52.96
DekaBank Deutsche Girozentr   3.00    6/12/2018   EUR     68.05
Lehman Brothers Treasury Co  12.40    6/12/2009   USD      1.21
Lehman Brothers Treasury Co   0.50     6/2/2020   EUR      1.21
Lehman Brothers Treasury Co  11.00     7/4/2011   USD      1.21
Lehman Brothers Treasury Co  11.00     7/4/2011   CHF      1.21
Kaupthing ehf                 7.50    12/5/2014   ISK     17.63
Lehman Brothers Treasury Co  16.00   12/26/2008   USD      1.21
Lehman Brothers Treasury Co   2.50    8/15/2012   CHF      1.21
Lehman Brothers Treasury Co  13.15   10/30/2008   USD      1.21
Lehman Brothers Treasury Co   0.50     8/1/2020   EUR      1.21
Lehman Brothers Treasury Co  16.80    8/21/2009   USD      1.21
Lehman Brothers Treasury Co  14.10   11/12/2008   USD      1.21
Lehman Brothers Treasury Co   5.25     7/8/2014   EUR      1.21
Lehman Brothers Treasury Co   2.30     6/6/2013   USD      1.21
Lehman Brothers Treasury Co   7.50    5/30/2010   AUD      1.21
Lehman Brothers Treasury Co  11.00     5/9/2020   USD      1.21
Lehman Brothers Treasury Co   4.30     6/4/2012   USD      1.21
Lehman Brothers Treasury Co   4.00     6/5/2011   USD      1.21
Lehman Brothers Treasury Co  13.00    7/25/2012   EUR      1.21
Lehman Brothers Treasury Co   3.00    8/13/2011   EUR      1.21
Lehman Brothers Treasury Co  18.25    10/2/2008   USD      1.21
Lehman Brothers Treasury Co   3.40    9/21/2009   HKD      1.21
Lehman Brothers Treasury Co   1.50   10/12/2010   EUR      1.21
Lehman Brothers Treasury Co   2.50    8/23/2012   GBP      1.21
Lehman Brothers Treasury Co   8.00   10/23/2008   USD      1.21
KPNQwest NV                   7.13     6/1/2009   EUR      0.06
Lehman Brothers Treasury Co   4.60    11/9/2011   EUR      9.25
Lehman Brothers Treasury Co   6.72   12/29/2008   EUR      1.21
Lehman Brothers Treasury Co   7.06   12/29/2008   EUR      1.21
Lehman Brothers Treasury Co   7.63    7/22/2011   HKD      1.21
Lehman Brothers Treasury Co   6.25   11/30/2012   EUR      1.21
Lehman Brothers Treasury Co   1.00    2/26/2010   USD      1.21
Lehman Brothers Treasury Co   7.05     4/8/2015   USD      1.21
Lehman Brothers Treasury Co   7.80    3/31/2018   USD      1.21
Lehman Brothers Treasury Co   3.50    6/20/2011   EUR      1.21
LBI HF                        5.08     3/1/2013   ISK      6.63
Lehman Brothers Treasury Co   7.60    1/31/2013   AUD      1.21
Lehman Brothers Treasury Co   6.45    2/20/2010   AUD      1.21
Lehman Brothers Treasury Co   6.60    5/23/2012   AUD      1.21
Lehman Brothers Treasury Co   3.45    5/23/2013   USD      1.21
Lehman Brothers Treasury Co   5.50    4/23/2014   EUR      1.21
Lehman Brothers Treasury Co   5.00    2/15/2018   EUR      1.21
Lehman Brothers Treasury Co   9.00     5/6/2011   CHF      1.21
Lehman Brothers Treasury Co  10.60    4/22/2014   MXN      1.21
Lehman Brothers Treasury Co   2.50    11/9/2011   CHF      1.21
Lehman Brothers Treasury Co   6.00   10/30/2012   USD      1.21
Lehman Brothers Treasury Co  16.00    10/8/2008   CHF      1.21
Lehman Brothers Treasury Co   3.00    12/3/2012   EUR      1.21
Lehman Brothers Treasury Co  11.00   12/20/2017   AUD      1.21
Lehman Brothers Treasury Co   0.50   12/20/2017   AUD      1.21
Lehman Brothers Treasury Co   0.50   12/20/2017   AUD      1.21
Lehman Brothers Treasury Co   0.50   12/20/2017   AUD      1.21
Lehman Brothers Treasury Co   8.00   12/31/2010   USD      1.21
Lehman Brothers Treasury Co   8.05   12/20/2010   HKD      1.21
Lehman Brothers Treasury Co   0.50   12/20/2017   USD      1.21
Lehman Brothers Treasury Co   0.50   12/20/2017   USD      1.21
Lehman Brothers Treasury Co   0.50   12/20/2017   USD      1.21
Lehman Brothers Treasury Co   0.50   12/20/2017   USD      1.21
Lehman Brothers Treasury Co   5.38     2/4/2014   USD      1.21
Lehman Brothers Treasury Co  13.00    2/16/2009   CHF      1.21
Lehman Brothers Treasury Co   7.00    2/15/2010   CHF      1.21
Lehman Brothers Treasury Co   4.00    7/20/2012   EUR      1.21
Lehman Brothers Treasury Co   4.00   10/12/2010   USD      1.21
Lehman Brothers Treasury Co   6.60     2/9/2009   EUR      1.21
Lehman Brothers Treasury Co   9.50     4/1/2018   USD      1.21
Lehman Brothers Treasury Co   6.00     3/4/2015   USD      1.21
Immigon Portfolioabbau AG     7.00    7/24/2022   EUR     35.00
Kaupthing ehf                 7.00    7/24/2009   ISK     17.63
Lehman Brothers Treasury Co   4.05    9/16/2008   EUR      1.21
Lehman Brothers Treasury Co   7.50    2/14/2010   AUD      1.21
Lehman Brothers Treasury Co   5.50    6/22/2010   USD      9.25
Lehman Brothers Treasury Co  10.00   10/23/2008   USD      1.21
Lehman Brothers Treasury Co  10.00   10/22/2008   USD      1.21
Lehman Brothers Treasury Co  16.00   10/28/2008   USD      1.21
Lehman Brothers Treasury Co   5.00    3/13/2009   EUR      1.21
Lehman Brothers Treasury Co   4.80   11/16/2012   HKD      1.21
Lehman Brothers Treasury Co   5.50   11/30/2012   CZK      1.21
Lehman Brothers Treasury Co  14.90   11/16/2010   EUR      1.21
Lehman Brothers Treasury Co  11.00   12/20/2017   AUD      1.21
Lehman Brothers Treasury Co   0.50   12/20/2017   AUD      9.63
Lehman Brothers Treasury Co   0.50   12/20/2017   AUD      1.21
Lehman Brothers Treasury Co   9.30   12/21/2010   EUR      1.21
KPNQwest NV                   8.88     2/1/2008   EUR      0.06
Lehman Brothers Treasury Co  11.00    2/16/2009   CHF      1.21
Lehman Brothers Treasury Co  10.00    2/16/2009   CHF      1.21
Lehman Brothers Treasury Co  16.00    11/9/2008   USD      1.21
Lehman Brothers Treasury Co  10.00    5/22/2009   USD      1.21
Lehman Brothers Treasury Co   4.60     8/1/2013   EUR      1.21
Lehman Brothers Treasury Co   8.00    5/22/2009   USD      1.21
Lehman Brothers Treasury Co   7.60     3/4/2010   NZD      1.21
Lehman Brothers Treasury Co  17.00     6/2/2009   USD      1.21
Lehman Brothers Treasury Co  13.50     6/2/2009   USD      1.21
Lehman Brothers Treasury Co   3.00     6/3/2010   EUR      1.21
Lehman Brothers Treasury Co  12.00     7/4/2011   EUR      1.21
Kaupthing ehf                 6.50    10/8/2010   ISK     17.63
Lehman Brothers Treasury Co   2.30    6/27/2013   USD      1.21
Lehman Brothers Treasury Co   2.37    7/15/2013   USD      1.21
Lehman Brothers Treasury Co  13.43     1/8/2009   ILS      1.21
Lehman Brothers Treasury Co   7.75     1/3/2012   AUD      1.21
Lehman Brothers Treasury Co   3.10     6/4/2010   USD      1.21
Lehman Brothers Treasury Co   1.95    11/4/2013   EUR      1.21
Lehman Brothers Treasury Co  12.22   11/21/2017   USD      1.21
Lehman Brothers Treasury Co   0.80   12/30/2016   EUR      1.21
Lehman Brothers Treasury Co   9.00    5/15/2022   USD      1.21
Lehman Brothers Treasury Co  10.00     1/3/2012   BRL      1.21
Lehman Brothers Treasury Co   6.00    5/23/2018   CZK      1.21
Lehman Brothers Treasury Co   4.00    5/30/2010   USD      1.21
Lehman Brothers Treasury Co   4.00    5/17/2010   USD      1.21
Royal Bank of Scotland PLC/   6.20     9/7/2018   GBP      1.07
Lehman Brothers Treasury Co   7.50    6/15/2017   USD      1.21
Lehman Brothers Treasury Co   6.00   12/30/2017   EUR      1.21
Royal Bank of Scotland PLC/   1.33   10/26/2018   GBP      1.06
Lehman Brothers Treasury Co   2.48    5/12/2009   USD      1.21
Lehman Brothers Treasury Co   2.25    5/12/2009   USD      1.21
HSBC Trinkaus & Burkhardt A  15.20    6/23/2017   EUR     61.89
Lehman Brothers Treasury Co   1.68     3/5/2015   EUR      1.21
Lehman Brothers Treasury Co   5.00    4/24/2017   EUR      1.21
Lehman Brothers Treasury Co   4.25    5/15/2010   EUR      1.21
Lehman Brothers Treasury Co   3.35   10/13/2016   EUR      1.21
DZ Bank AG Deutsche Zentral   8.00    3/24/2017   EUR     66.91
UBS AG                        7.00   12/22/2017   EUR     66.55
UBS AG                        7.75   12/22/2017   EUR     67.92
UBS AG                       10.25   12/22/2017   EUR     47.83
UBS AG                        8.50   12/22/2017   EUR     51.37
UBS AG                        4.75   12/22/2017   EUR     74.65
UBS AG                        6.75   12/22/2017   EUR     57.96
UBS AG                        8.25   12/22/2017   EUR     53.15
UBS AG                        6.25   12/22/2017   EUR     57.26
DekaBank Deutsche Girozentr   3.40     3/5/2018   EUR     72.79
UniCredit Bank AG             4.30   12/22/2017   EUR     68.12
DekaBank Deutsche Girozentr   3.30    2/26/2018   EUR     56.30
UniCredit Bank AG             4.30   10/29/2018   EUR     67.02
Landesbank Baden-Wuerttembe   3.90    6/23/2017   EUR     72.82
UBS AG                       10.25   12/22/2017   EUR     58.50
UBS AG                       13.00   12/22/2017   EUR     74.19
UBS AG                        7.75   12/22/2017   EUR     46.56
UBS AG                        8.25   12/22/2017   EUR     41.42
UBS AG                       10.50   12/22/2017   EUR     49.60
UBS AG                        9.50   12/22/2017   EUR     50.99
UBS AG                        6.50   12/22/2017   EUR     57.46
Landesbank Baden-Wuerttembe   3.30    6/22/2018   EUR     68.04
DekaBank Deutsche Girozentr   3.10    2/26/2018   EUR     73.93
Landesbank Baden-Wuerttembe   3.00    5/25/2018   EUR     70.63
DekaBank Deutsche Girozentr   3.45     6/1/2018   EUR     60.53
UniCredit Bank AG             4.40    9/19/2018   EUR     70.66
UBS AG                        9.50   12/22/2017   EUR     55.53
UBS AG                        5.50   12/22/2017   EUR     74.83
UBS AG                        8.00   12/22/2017   EUR     60.07
UBS AG                        5.50   12/22/2017   EUR     70.10
UBS AG                        7.50   12/22/2017   EUR     54.74
UBS AG                        5.75   12/22/2017   EUR     61.44
UBS AG                        5.00   12/22/2017   EUR     69.48
UBS AG                        4.50   12/22/2017   EUR     68.22
UBS AG                        5.00   12/22/2017   EUR     64.04
UBS AG                        6.50   12/22/2017   EUR     65.78
Leonteq Securities AG/Guern   5.75    3/17/2017   CHF     61.10
UniCredit Bank AG             4.30   10/17/2018   EUR     69.92
Barclays Bank PLC             4.17     1/5/2017   EUR     16.92
Landesbank Baden-Wuerttembe   3.55    6/23/2017   EUR     68.48
Landesbank Baden-Wuerttembe   3.15    6/22/2018   EUR     66.58
UBS AG                        5.00   12/22/2017   EUR     74.03
Credit Suisse AG/Nassau       5.25    5/14/2018   CHF     62.87
Landesbank Baden-Wuerttembe   3.05    6/22/2018   EUR     72.10
UBS AG                        4.50   12/22/2017   EUR     60.11
UniCredit Bank AG             4.10    9/28/2018   EUR     63.90
DekaBank Deutsche Girozentr   3.10     5/5/2017   EUR     71.24
DekaBank Deutsche Girozentr   3.40     4/9/2018   EUR     60.25
Landesbank Baden-Wuerttembe   3.60    6/23/2017   EUR     73.29
DekaBank Deutsche Girozentr   3.15    5/18/2018   EUR     47.35
UBS AG                        5.00   12/22/2017   EUR     67.65
UBS AG                        4.75   12/22/2017   EUR     57.29
UBS AG/London                 5.00    8/14/2017   CHF     55.40
Landesbank Baden-Wuerttembe   3.00    2/23/2018   EUR     65.21
Leonteq Securities AG/Guern  10.58     2/3/2017   USD     22.68
UBS AG/London                14.50    7/20/2017   USD     58.00
Goldman Sachs & Co Wertpapi  24.00    4/26/2017   EUR     73.26
Goldman Sachs & Co Wertpapi  24.00    6/21/2017   EUR     72.64
Goldman Sachs & Co Wertpapi  22.00    7/26/2017   EUR     73.92
Goldman Sachs & Co Wertpapi  21.00    8/23/2017   EUR     74.98
Landesbank Baden-Wuerttembe   3.00    8/24/2018   EUR     62.70
Landesbank Baden-Wuerttembe   3.40    6/22/2018   EUR     55.10
Landesbank Baden-Wuerttembe   2.70    7/27/2018   EUR     70.91
Landesbank Baden-Wuerttembe   4.20    6/23/2017   EUR     67.67
Landesbank Baden-Wuerttembe   3.40    8/24/2018   EUR     67.10
Landesbank Baden-Wuerttembe   3.00   10/27/2017   EUR     71.44
Landesbank Baden-Wuerttembe   5.00   10/27/2017   EUR     67.59
Landesbank Baden-Wuerttembe   5.00   10/27/2017   EUR     63.99
Landesbank Baden-Wuerttembe   4.00   10/27/2017   EUR     67.75
Landesbank Baden-Wuerttembe   2.50    2/24/2017   EUR     56.64
Landesbank Baden-Wuerttembe   2.50    2/24/2017   EUR     74.15
Landesbank Baden-Wuerttembe   2.50    2/24/2017   EUR     67.91
Landesbank Baden-Wuerttembe   3.50    2/24/2017   EUR     54.01
Landesbank Baden-Wuerttembe   3.50    2/24/2017   EUR     69.20
Landesbank Baden-Wuerttembe   3.50    2/24/2017   EUR     62.87
Landesbank Baden-Wuerttembe   3.50    2/24/2017   EUR     74.44
Landesbank Baden-Wuerttembe   4.50    2/24/2017   EUR     74.81
Landesbank Baden-Wuerttembe   4.50    2/24/2017   EUR     65.43
Landesbank Baden-Wuerttembe   4.50    2/24/2017   EUR     71.92
Landesbank Baden-Wuerttembe   4.50    2/24/2017   EUR     58.82
Landesbank Baden-Wuerttembe   4.50    2/24/2017   EUR     70.28
Landesbank Baden-Wuerttembe   5.50    2/24/2017   EUR     70.78
Landesbank Baden-Wuerttembe   5.50    2/24/2017   EUR     62.08
Landesbank Baden-Wuerttembe   5.50    2/24/2017   EUR     55.31
Landesbank Baden-Wuerttembe   5.50    2/24/2017   EUR     66.94
Landesbank Baden-Wuerttembe   4.00    2/24/2017   EUR     73.59
Landesbank Baden-Wuerttembe   5.00    2/24/2017   EUR     74.18
Landesbank Baden-Wuerttembe   5.00    2/24/2017   EUR     70.27
Landesbank Baden-Wuerttembe   6.00    2/24/2017   EUR     70.17
Landesbank Baden-Wuerttembe   3.60    9/22/2017   EUR     71.56
Landesbank Baden-Wuerttembe   3.90    7/28/2017   EUR     48.39
Landesbank Baden-Wuerttembe   5.00    3/24/2017   EUR     74.07
Landesbank Baden-Wuerttembe   5.00    3/24/2017   EUR     72.65
Landesbank Baden-Wuerttembe   4.00    3/24/2017   EUR     70.16
Landesbank Baden-Wuerttembe   5.00    3/24/2017   EUR     66.10
Landesbank Baden-Wuerttembe   6.00    3/24/2017   EUR     62.61
Landesbank Baden-Wuerttembe   3.00    3/24/2017   EUR     64.69
Landesbank Baden-Wuerttembe   4.00    3/24/2017   EUR     60.88
Landesbank Baden-Wuerttembe   5.00    3/24/2017   EUR     57.73
Landesbank Baden-Wuerttembe   3.00    3/24/2017   EUR     68.78
Landesbank Baden-Wuerttembe   4.00    3/24/2017   EUR     64.62
Landesbank Baden-Wuerttembe   5.00    3/24/2017   EUR     61.93
Landesbank Baden-Wuerttembe   2.50    3/24/2017   EUR     55.77
Landesbank Baden-Wuerttembe   4.00    3/24/2017   EUR     52.17
Landesbank Baden-Wuerttembe   4.50    3/24/2017   EUR     71.21
Landesbank Baden-Wuerttembe   3.00    3/24/2017   EUR     67.10
Landesbank Baden-Wuerttembe   6.00    9/22/2017   EUR     74.01
Landesbank Baden-Wuerttembe   3.00    9/22/2017   EUR     62.91
Leonteq Securities AG         6.00   10/12/2017   CHF     65.99
UniCredit Bank AG             4.50    9/19/2017   EUR     62.67
UniCredit Bank AG             5.40    6/30/2017   EUR     59.66
UBS AG                        8.25   12/22/2017   EUR     60.08
UBS AG                        7.00   12/22/2017   EUR     62.72
UBS AG                        5.00   12/22/2017   EUR     67.81
UBS AG                        8.75   12/22/2017   EUR     57.61
UBS AG                        4.00   12/22/2017   EUR     73.13
UBS AG                       10.25   12/22/2017   EUR     53.72
UBS AG                       11.75   12/22/2017   EUR     50.93
UBS AG                        9.50   12/22/2017   EUR     54.88
UBS AG                       10.50   12/22/2017   EUR     50.94
BNP Paribas Emissions- und   23.00   12/21/2017   EUR     74.44
BNP Paribas Emissions- und   28.00   12/21/2017   EUR     69.23
BNP Paribas Emissions- und   25.00    6/22/2017   EUR     74.38
BNP Paribas Emissions- und   28.00    6/22/2017   EUR     68.38
BNP Paribas Emissions- und   26.00   12/21/2017   EUR     70.46
BNP Paribas Emissions- und   29.00   12/21/2017   EUR     73.88
BNP Paribas Emissions- und   28.00    3/23/2017   EUR     72.69
BNP Paribas Emissions- und   26.00    6/22/2017   EUR     66.80
BNP Paribas Emissions- und   23.00   12/21/2017   EUR     67.25
BNP Paribas Emissions- und   29.00    3/23/2017   EUR     70.18
BNP Paribas Emissions- und   24.00   12/21/2017   EUR     74.75
BNP Paribas Emissions- und   12.00    3/23/2017   EUR     74.62
BNP Paribas Emissions- und   18.00    3/23/2017   EUR     64.89
BNP Paribas Emissions- und   22.00    3/23/2017   EUR     61.40
BNP Paribas Emissions- und   15.00    3/23/2017   EUR     74.55
BNP Paribas Emissions- und   16.00    6/22/2017   EUR     72.26
BNP Paribas Emissions- und   28.00    6/22/2017   EUR     61.71
BNP Paribas Emissions- und   28.00   12/21/2017   EUR     74.13
BNP Paribas Emissions- und   27.00    3/23/2017   EUR     72.63
BNP Paribas Emissions- und   27.00   12/21/2017   EUR     72.43
BNP Paribas Emissions- und   18.00    6/22/2017   EUR     62.31
BNP Paribas Emissions- und   21.00    6/22/2017   EUR     58.60
BNP Paribas Emissions- und   25.00   12/21/2017   EUR     58.10
BNP Paribas Emissions- und   18.00    3/23/2017   EUR     62.55
BNP Paribas Emissions- und   15.00    3/23/2017   EUR     73.73
BNP Paribas Emissions- und   22.00    3/23/2017   EUR     65.85
BNP Paribas Emissions- und   27.00   12/21/2017   EUR     64.35
BNP Paribas Emissions- und   13.00    6/22/2017   EUR     66.51
BNP Paribas Emissions- und   25.00    6/22/2017   EUR     49.19
BNP Paribas Emissions- und   25.00   12/21/2017   EUR     54.04
Vontobel Financial Products   8.00    3/24/2017   EUR     73.75
BNP Paribas Emissions- und   28.00    3/23/2017   EUR     71.20
BNP Paribas Emissions- und   27.00   12/21/2017   EUR     71.63
BNP Paribas Emissions- und   29.00    6/22/2017   EUR     68.68
BNP Paribas Emissions- und   28.00   12/21/2017   EUR     71.74
BNP Paribas Emissions- und   25.00   12/21/2017   EUR     73.94
BNP Paribas Emissions- und   28.00   12/21/2017   EUR     71.32
BNP Paribas Emissions- und   25.00    3/23/2017   EUR     70.98
BNP Paribas Emissions- und   22.00    3/23/2017   EUR     65.98
BNP Paribas Emissions- und   29.00    3/23/2017   EUR     59.87
BNP Paribas Emissions- und   22.00   12/21/2017   EUR     71.37
BNP Paribas Emissions- und   26.00   12/21/2017   EUR     68.12
BNP Paribas Emissions- und   29.00    6/22/2017   EUR     73.06
BNP Paribas Emissions- und   29.00   12/21/2017   EUR     65.66
BNP Paribas Emissions- und   27.00   12/21/2017   EUR     71.63
BNP Paribas Emissions- und   28.00    3/23/2017   EUR     55.63
BNP Paribas Emissions- und   27.00   12/21/2017   EUR     61.87
BNP Paribas Emissions- und   28.00   12/21/2017   EUR     72.68
BNP Paribas Emissions- und   27.00   12/21/2017   EUR     71.82
BNP Paribas Emissions- und   15.00   12/21/2017   EUR     74.28
BNP Paribas Emissions- und   22.00   12/21/2017   EUR     68.68
BNP Paribas Emissions- und   29.00   12/21/2017   EUR     73.97
BNP Paribas Emissions- und   28.00   12/21/2017   EUR     73.80
BNP Paribas Emissions- und   28.00    3/23/2017   EUR     63.81
BNP Paribas Emissions- und   22.00    3/23/2017   EUR     69.17
BNP Paribas Emissions- und   28.00    3/23/2017   EUR     64.04
BNP Paribas Emissions- und   17.00   12/21/2017   EUR     74.36
BNP Paribas Emissions- und   25.00   12/21/2017   EUR     68.22
BNP Paribas Emissions- und   10.00   12/21/2017   EUR     74.52
BNP Paribas Emissions- und   13.00   12/21/2017   EUR     69.43
BNP Paribas Emissions- und   28.00    3/23/2017   EUR     53.30
BNP Paribas Emissions- und   13.00    3/23/2017   EUR     65.14
BNP Paribas Emissions- und   16.00    3/23/2017   EUR     58.89
BNP Paribas Emissions- und   19.00    3/23/2017   EUR     54.00
BNP Paribas Emissions- und   22.00    3/23/2017   EUR     50.12
BNP Paribas Emissions- und   25.00    3/23/2017   EUR     47.00
BNP Paribas Emissions- und   28.00    3/23/2017   EUR     44.46
BNP Paribas Emissions- und   15.00   12/21/2017   EUR     63.63
BNP Paribas Emissions- und   19.00   12/21/2017   EUR     58.03
BNP Paribas Emissions- und   22.00   12/21/2017   EUR     55.37
Goldman Sachs & Co Wertpapi  16.00    3/22/2017   EUR     74.19
Vontobel Financial Products  12.25    3/10/2017   EUR     68.21
Vontobel Financial Products  11.75     6/9/2017   EUR     70.69
Goldman Sachs & Co Wertpapi  16.00    3/22/2017   EUR     62.95
Leonteq Securities AG        11.20    1/26/2017   CHF     73.73
Leonteq Securities AG        10.20    1/26/2017   CHF     63.46
Deutsche Bank AG              5.20    3/21/2017   EUR     72.70
Deutsche Bank AG              5.20    3/21/2017   EUR     69.90
Deutsche Bank AG              7.20    3/21/2017   EUR     73.10
Deutsche Bank AG              7.20    3/21/2017   EUR     70.30
DekaBank Deutsche Girozentr   2.60   10/12/2018   EUR     74.98
Goldman Sachs & Co Wertpapi  16.00    6/21/2017   EUR     67.94
Societe Generale Effekten G   8.47    6/23/2017   EUR     73.14
Societe Generale Effekten G   8.81    6/23/2017   EUR     57.32
Societe Generale Effekten G  11.68    6/23/2017   EUR     53.14
UBS AG/London                 3.81   10/28/2017   USD     65.75
Notenstein La Roche Private   7.70     5/9/2017   CHF     62.39
Landesbank Baden-Wuerttembe   4.00    4/28/2017   EUR     73.18
Landesbank Baden-Wuerttembe   5.00    4/28/2017   EUR     70.24
Landesbank Baden-Wuerttembe   3.00    4/28/2017   EUR     72.44
Landesbank Baden-Wuerttembe   4.00    4/28/2017   EUR     69.87
Vontobel Financial Products   8.25    3/10/2017   EUR     73.73
Vontobel Financial Products   8.65    3/10/2017   EUR     62.85
UBS AG/London                10.20    2/10/2017   EUR     74.01
UBS AG/London                 4.70    2/10/2017   EUR     69.08
Goldman Sachs & Co Wertpapi  10.00    6/21/2017   EUR     65.21
UBS AG/London                20.36     6/6/2017   USD      6.88
Goldman Sachs & Co Wertpapi  10.00    6/21/2017   EUR     69.23
Goldman Sachs & Co Wertpapi  11.00    6/21/2017   EUR     69.70
Goldman Sachs & Co Wertpapi  11.00    6/21/2017   EUR     65.67
Notenstein La Roche Private   4.80   11/14/2018   CHF     72.01
Goldman Sachs International   1.00    12/5/2017   SEK     13.58
Notenstein La Roche Private   5.30   11/14/2018   CHF     74.73
Notenstein La Roche Private   3.00    9/22/2020   CHF     68.21
Credit Suisse AG/London       7.00   11/15/2019   USD      8.40
UniCredit Bank AG             3.50    1/29/2020   EUR     74.51
Credit Suisse AG/London       8.00   11/29/2019   USD      8.50
Notenstein La Roche Private   5.50   12/28/2018   CHF     71.79
Notenstein La Roche Private   5.00    1/14/2019   CHF     68.71
Notenstein La Roche Private   8.50    1/16/2017   EUR     52.97
Notenstein La Roche Private   5.50    1/14/2019   CHF     73.53
Leonteq Securities AG         8.20    1/16/2017   CHF     73.72
Notenstein La Roche Private   4.50   10/31/2018   CHF     66.67
Leonteq Securities AG         3.00    9/19/2019   CHF     57.48
DekaBank Deutsche Girozentr   7.15   10/27/2017   EUR     47.63
Notenstein La Roche Private   5.00   10/31/2018   CHF     69.32
Landesbank Baden-Wuerttembe   3.25   12/22/2017   EUR     69.65
UniCredit Bank AG             4.00    6/26/2018   EUR     64.79
UniCredit Bank AG             4.60    6/30/2017   EUR     56.84
Landesbank Baden-Wuerttembe   3.25    1/26/2018   EUR     65.36
Landesbank Hessen-Thueringe   4.00    1/16/2018   EUR     64.83
Barclays Bank PLC             4.17     1/5/2017   EUR     22.20
Landesbank Baden-Wuerttembe   3.25    6/23/2017   EUR     73.62
Leonteq Securities AG/Guern   5.00   12/27/2019   EUR     70.47
Leonteq Securities AG         6.00    2/20/2017   CHF     50.76
Bayerische Landesbank         3.00     3/9/2018   EUR     60.92
Leonteq Securities AG         7.20     3/6/2017   CHF     64.94
Leonteq Securities AG         7.80    2/27/2017   EUR     60.94
DekaBank Deutsche Girozentr   2.40    2/17/2017   EUR     63.04
UniCredit Bank AG             5.00    6/25/2019   EUR     64.02
Landesbank Hessen-Thueringe   5.00    3/27/2019   EUR     66.99
EFG International Finance G   7.20    2/25/2019   EUR     29.35
Leonteq Securities AG         5.20     3/6/2017   CHF     73.70
UniCredit Bank AG             3.75    10/2/2020   EUR     68.73
DekaBank Deutsche Girozentr   2.50    2/24/2017   EUR     73.87
DekaBank Deutsche Girozentr   3.00   12/17/2018   EUR     48.23
DZ Bank AG Deutsche Zentral   5.00     2/6/2018   EUR     70.65
DekaBank Deutsche Girozentr   3.20    1/14/2019   EUR     61.21
Leonteq Securities AG         6.00    1/30/2017   CHF     69.45
UniCredit Bank AG             3.75     9/7/2020   EUR     71.06
DekaBank Deutsche Girozentr   2.75    7/17/2019   EUR     73.58
Vontobel Financial Products   6.20     2/4/2019   EUR     72.27
Notenstein La Roche Private   8.00     2/6/2017   EUR     71.00
DekaBank Deutsche Girozentr   2.75     2/2/2018   EUR     72.58
Commerzbank AG                5.24    2/16/2017   EUR     63.67
Notenstein La Roche Private   5.00    2/27/2019   CHF     68.84
Notenstein La Roche Private   5.70    2/27/2019   CHF     67.55
BNP Paribas Emissions- und   27.00    6/22/2017   EUR     72.94
BNP Paribas Emissions- und   25.00    6/22/2017   EUR     62.66
BNP Paribas Emissions- und   19.00   12/21/2017   EUR     69.35
BNP Paribas Emissions- und   28.00   12/21/2017   EUR     63.54
BNP Paribas Emissions- und   19.00    3/23/2017   EUR     68.13
BNP Paribas Emissions- und   24.00    3/23/2017   EUR     63.40
BNP Paribas Emissions- und   28.00    3/23/2017   EUR     59.42
BNP Paribas Emissions- und   16.00    6/22/2017   EUR     71.14
BNP Paribas Emissions- und   13.00    6/22/2017   EUR     60.39
BNP Paribas Emissions- und   19.00    6/22/2017   EUR     54.23
BNP Paribas Emissions- und   28.00   12/21/2017   EUR     54.37
BNP Paribas Emissions- und   24.00    3/23/2017   EUR     59.77
BNP Paribas Emissions- und   12.00   12/21/2017   EUR     72.46
BNP Paribas Emissions- und   18.00    3/23/2017   EUR     66.19
BNP Paribas Emissions- und   22.00    3/23/2017   EUR     62.60
BNP Paribas Emissions- und   25.00    6/22/2017   EUR     60.18
BNP Paribas Emissions- und   27.00    6/22/2017   EUR     58.26
BNP Paribas Emissions- und   19.00   12/21/2017   EUR     66.88
BNP Paribas Emissions- und   22.00   12/21/2017   EUR     64.38
BNP Paribas Emissions- und   25.00   12/21/2017   EUR     62.99
BNP Paribas Emissions- und   27.00   12/21/2017   EUR     61.40
BNP Paribas Emissions- und   22.00    3/23/2017   EUR     72.32
BNP Paribas Emissions- und   26.00    3/23/2017   EUR     68.00
DZ Bank AG Deutsche Zentral  15.75    2/24/2017   EUR     67.38
Communaute Francaise de Bel   0.50    6/27/2046   EUR     68.32
DZ Bank AG Deutsche Zentral   9.25    7/28/2017   EUR     64.73
UBS AG/London                 4.40    6/25/2018   USD     49.75
UBS AG/London                 4.47    6/25/2018   USD     61.03
UBS AG/London                 4.98   12/26/2017   USD     41.97
HSBC Trinkaus & Burkhardt A   8.20    9/22/2017   EUR     64.82
Credit Suisse AG/London       8.55    1/30/2026   USD     10.03
Societe Generale Effekten G  14.99    3/24/2017   EUR     72.10
Societe Generale Effekten G  15.64    6/23/2017   EUR     74.74
HSBC Trinkaus & Burkhardt A  11.80    3/24/2017   EUR     74.66
Zurcher Kantonalbank Financ  14.30   10/11/2017   CHF     72.31
Bank Julius Baer & Co Ltd/G  11.60   10/11/2017   CHF     64.00
UBS AG/London                15.00    10/5/2017   CHF     67.70
Noyabrskaya Pge OOO           8.50   11/10/2020   RUB     60.00
Podkarpacki Bank Spoldzielc   5.80   10/24/2024   PLN     61.80
Transgazservice LLP          10.50    11/8/2019   RUB      1.10
Goldman Sachs & Co Wertpapi  10.00    3/22/2017   EUR     68.19
Goldman Sachs & Co Wertpapi  12.00    3/22/2017   EUR     64.50
Goldman Sachs & Co Wertpapi  11.00    6/21/2017   EUR     65.70
Goldman Sachs & Co Wertpapi  10.00    6/21/2017   EUR     69.25
HSBC Trinkaus & Burkhardt A   6.30    3/24/2017   EUR     74.24
HSBC Trinkaus & Burkhardt A   6.70    3/24/2017   EUR     60.35
HSBC Trinkaus & Burkhardt A   6.50    3/24/2017   EUR     68.44
HSBC Trinkaus & Burkhardt A   7.40    3/24/2017   EUR     62.08
HSBC Trinkaus & Burkhardt A   6.70    3/24/2017   EUR     67.83
Landesbank Baden-Wuerttembe   2.60    2/24/2017   EUR     67.25
UBS AG/London                 6.25    7/24/2017   CHF     70.70
Landesbank Baden-Wuerttembe   2.60    8/23/2019   EUR     68.70
Zurcher Kantonalbank Financ   5.00    7/27/2017   CHF     74.86
Vontobel Financial Products   6.80    1/27/2017   EUR     72.52
Credit Suisse AG/Nassau       7.00     8/7/2017   CHF     74.45
Zurcher Kantonalbank Financ   5.50    1/30/2017   CHF     65.80
Goldman Sachs & Co Wertpapi  13.00    3/22/2017   EUR     50.77
Goldman Sachs & Co Wertpapi   9.00    6/21/2017   EUR     58.18
Goldman Sachs & Co Wertpapi  12.00    6/21/2017   EUR     53.64
Landesbank Baden-Wuerttembe   4.50    8/25/2017   EUR     74.54
Landesbank Baden-Wuerttembe   3.50    8/25/2017   EUR     74.46
Landesbank Baden-Wuerttembe   4.50    8/25/2017   EUR     70.97
Landesbank Baden-Wuerttembe   2.50    8/25/2017   EUR     74.80
Landesbank Baden-Wuerttembe   3.50    8/25/2017   EUR     70.74
Landesbank Baden-Wuerttembe   4.50    8/25/2017   EUR     67.52
Landesbank Baden-Wuerttembe   3.00    8/25/2017   EUR     71.61
Landesbank Baden-Wuerttembe   4.00    8/25/2017   EUR     68.36
Landesbank Baden-Wuerttembe   5.00    8/25/2017   EUR     65.87
Landesbank Baden-Wuerttembe   3.00    8/25/2017   EUR     67.68
Landesbank Baden-Wuerttembe   4.00    8/25/2017   EUR     64.17
Landesbank Baden-Wuerttembe   5.00    8/25/2017   EUR     61.44
Landesbank Baden-Wuerttembe   3.00    8/25/2017   EUR     72.17
EFG International Finance G   7.20    7/29/2020   EUR     51.37
Notenstein La Roche Private   4.00    1/31/2017   EUR     71.71
Zurcher Kantonalbank Financ   4.00    8/24/2018   CHF     74.55
Credit Suisse AG/Nassau       5.50     8/3/2017   EUR     72.69
Bank Julius Baer & Co Ltd/G   4.75    2/13/2017   CHF     72.90
Bank Julius Baer & Co Ltd/G   9.05    2/13/2017   EUR     70.05
Zurcher Kantonalbank Financ   5.75     2/6/2017   EUR     74.60
DekaBank Deutsche Girozentr   2.60    6/23/2017   EUR     66.54
Notenstein La Roche Private   7.00    8/14/2017   CHF     71.55
Leonteq Securities AG         5.20    8/14/2018   CHF     67.39
Goldman Sachs & Co Wertpapi   9.00    6/21/2017   EUR     67.28
Goldman Sachs & Co Wertpapi  13.00    6/21/2017   EUR     60.19
Credit Suisse AG/London       7.70    8/20/2025   USD      8.64
Notenstein La Roche Private   6.30    2/14/2017   CHF     56.16
Landesbank Baden-Wuerttembe   3.00    6/23/2017   EUR     70.66
Landesbank Baden-Wuerttembe   4.00    6/23/2017   EUR     66.93
Landesbank Baden-Wuerttembe   5.00    6/23/2017   EUR     63.80
Landesbank Baden-Wuerttembe   6.00    6/23/2017   EUR     61.36
Credit Suisse AG/Nassau       6.38    6/12/2017   EUR     62.94
Vontobel Financial Products   5.00    1/10/2017   EUR     60.50
Landesbank Baden-Wuerttembe   2.75    7/26/2019   EUR     72.83
UniCredit Bank AG             3.80    7/23/2020   EUR     69.40
Leonteq Securities AG         3.00     7/8/2019   CHF     74.58
Notenstein La Roche Private   3.00     7/3/2019   CHF     73.86
UniCredit Bank AG             4.40    7/13/2018   EUR     67.79
Notenstein La Roche Private   6.50    6/26/2017   EUR     65.86
Raiffeisen Centrobank AG      6.24    3/22/2017   EUR     72.96
Raiffeisen Centrobank AG      9.07    3/22/2017   EUR     73.43
Raiffeisen Centrobank AG      7.37    3/22/2017   EUR     73.71
Landesbank Baden-Wuerttembe   3.00    7/26/2019   EUR     74.98
EFG International Finance G   5.30    6/24/2019   EUR     72.37
Goldman Sachs & Co Wertpapi   6.00    3/22/2017   EUR     73.69
Goldman Sachs & Co Wertpapi   8.00    3/22/2017   EUR     67.74
Goldman Sachs & Co Wertpapi  10.00    3/22/2017   EUR     62.74
Goldman Sachs & Co Wertpapi  14.00    3/22/2017   EUR     54.99
Goldman Sachs & Co Wertpapi   6.00    6/21/2017   EUR     74.38
Goldman Sachs & Co Wertpapi   8.00    6/21/2017   EUR     69.42
Goldman Sachs & Co Wertpapi  10.00    6/21/2017   EUR     65.15
Goldman Sachs & Co Wertpapi  13.00    6/21/2017   EUR     58.09
Goldman Sachs & Co Wertpapi   5.00    3/22/2017   EUR     72.73
Goldman Sachs & Co Wertpapi   6.00    3/22/2017   EUR     70.17
Goldman Sachs & Co Wertpapi   7.00    3/22/2017   EUR     67.79
Goldman Sachs & Co Wertpapi   8.00    3/22/2017   EUR     63.33
Goldman Sachs & Co Wertpapi  10.00    3/22/2017   EUR     59.68
Goldman Sachs & Co Wertpapi  14.00    3/22/2017   EUR     53.80
Goldman Sachs & Co Wertpapi   6.00    6/21/2017   EUR     71.19
Goldman Sachs & Co Wertpapi   6.00    6/21/2017   EUR     73.73
Goldman Sachs & Co Wertpapi   7.00    6/21/2017   EUR     69.24
Goldman Sachs & Co Wertpapi   8.00    6/21/2017   EUR     65.23
Goldman Sachs & Co Wertpapi  10.00    6/21/2017   EUR     62.19
Goldman Sachs & Co Wertpapi  13.00    6/21/2017   EUR     56.92
Goldman Sachs & Co Wertpapi   7.00    3/22/2017   EUR     67.27
Goldman Sachs & Co Wertpapi   8.00    3/22/2017   EUR     64.04
Goldman Sachs & Co Wertpapi   9.00    3/22/2017   EUR     61.15
Goldman Sachs & Co Wertpapi  13.00    3/22/2017   EUR     54.30
Goldman Sachs & Co Wertpapi   6.00    6/21/2017   EUR     71.40
Goldman Sachs & Co Wertpapi   7.00    6/21/2017   EUR     68.16
Goldman Sachs & Co Wertpapi   8.00    6/21/2017   EUR     65.27
Goldman Sachs & Co Wertpapi  10.00    6/21/2017   EUR     63.16
Goldman Sachs & Co Wertpapi  13.00    6/21/2017   EUR     56.98
Goldman Sachs & Co Wertpapi   7.00    3/22/2017   EUR     68.36
UBS AG/London                 9.25    6/26/2017   CHF     63.50
UBS AG/London                 7.00    6/26/2017   EUR     66.10
Landesbank Baden-Wuerttembe   3.70    7/27/2018   EUR     72.04
UBS AG/London                 9.40    6/30/2017   EUR     45.90
EFG International Finance G   7.20    6/26/2017   GBP     23.72
Vontobel Financial Products   3.10     1/2/2017   EUR     63.20
Zurcher Kantonalbank Financ   8.50    7/17/2017   CHF     63.43
Zurcher Kantonalbank Financ   9.00    7/17/2017   EUR     74.43
UBS AG/London                 7.50     7/3/2017   EUR     61.85
Banque Cantonale Vaudoise     7.25     7/3/2017   CHF     61.74
Landesbank Baden-Wuerttembe   3.00    3/24/2017   EUR     61.77
Landesbank Baden-Wuerttembe   4.00    3/24/2017   EUR     58.22
Landesbank Baden-Wuerttembe   5.00    3/24/2017   EUR     55.26
Landesbank Baden-Wuerttembe   6.00    3/24/2017   EUR     52.65
Landesbank Baden-Wuerttembe   3.00    3/24/2017   EUR     66.51
Landesbank Baden-Wuerttembe   4.00    3/24/2017   EUR     62.51
Landesbank Baden-Wuerttembe   5.50    3/24/2017   EUR     57.93
Landesbank Baden-Wuerttembe   4.80    6/23/2017   EUR     67.23
Landesbank Baden-Wuerttembe   3.25    7/28/2017   EUR     70.10
Landesbank Baden-Wuerttembe   3.00    6/23/2017   EUR     72.24
Landesbank Baden-Wuerttembe   4.40    8/25/2017   EUR     74.49
Landesbank Baden-Wuerttembe   3.70    8/25/2017   EUR     74.56
Landesbank Baden-Wuerttembe   4.50    8/25/2017   EUR     68.77
Landesbank Baden-Wuerttembe   3.55    8/25/2017   EUR     42.52
Landesbank Baden-Wuerttembe   3.70    9/22/2017   EUR     69.35
Landesbank Baden-Wuerttembe   3.75    9/22/2017   EUR     41.39
Landesbank Baden-Wuerttembe   3.20    9/22/2017   EUR     64.47
Landesbank Baden-Wuerttembe   3.00    6/22/2018   EUR     56.69
Landesbank Baden-Wuerttembe   3.50   11/24/2017   EUR     56.51
Landesbank Baden-Wuerttembe   3.40    6/23/2017   EUR     51.99
Landesbank Baden-Wuerttembe   3.85   10/27/2017   EUR     45.25
Landesbank Baden-Wuerttembe   3.00   11/24/2017   EUR     53.66
Landesbank Baden-Wuerttembe   3.40   11/24/2017   EUR     43.62
Landesbank Baden-Wuerttembe   3.50    1/26/2018   EUR     74.24
Landesbank Baden-Wuerttembe   3.45    3/22/2019   EUR     62.34
Landesbank Baden-Wuerttembe   4.50    3/23/2018   EUR     53.98
Landesbank Baden-Wuerttembe   3.00    6/28/2019   EUR     66.83
Landesbank Baden-Wuerttembe   2.50    6/28/2019   EUR     68.42
Landesbank Baden-Wuerttembe   3.00    6/28/2019   EUR     71.25
Landesbank Baden-Wuerttembe   3.50    6/22/2018   EUR     65.21
Landesbank Baden-Wuerttembe   4.00    8/25/2017   EUR     41.09
Landesbank Baden-Wuerttembe   3.00    9/28/2018   EUR     48.15
Landesbank Baden-Wuerttembe   3.75   10/27/2017   EUR     45.80
Landesbank Baden-Wuerttembe   3.00     1/4/2019   EUR     53.78
Notenstein La Roche Private   5.40    4/21/2017   CHF     74.04
UBS AG/London                 5.00    4/22/2017   CHF     72.95
Leonteq Securities AG         5.00     5/7/2019   CHF     69.42
Leonteq Securities AG         6.00     5/5/2017   CHF     74.62
Notenstein La Roche Private   5.60     5/4/2017   CHF     74.53
Landesbank Baden-Wuerttembe   3.25    8/25/2017   EUR     67.60
Landesbank Baden-Wuerttembe   3.00    6/28/2019   EUR     72.03
Commerzbank AG                7.24    4/27/2017   EUR     56.86
Commerzbank AG                6.24    4/27/2017   EUR     74.18
Leonteq Securities AG         8.00    4/24/2017   USD     59.26
DekaBank Deutsche Girozentr   3.25    4/20/2018   EUR     60.17
DekaBank Deutsche Girozentr   2.60    4/21/2017   EUR     57.43
Landesbank Hessen-Thueringe   4.00     6/5/2019   EUR     74.09
Leonteq Securities AG         6.00     5/4/2017   CHF     74.21
Bank Julius Baer & Co Ltd/G   6.00     5/2/2017   CHF     72.40
Notenstein La Roche Private   4.00     5/8/2018   CHF     61.88
DekaBank Deutsche Girozentr   2.75   10/29/2018   EUR     59.86
EFG International Finance G   7.19     5/6/2019   EUR     25.47
Notenstein Finance Guernsey   7.19     5/6/2019   EUR     74.82
Bank J Safra Sarasin AG/Gue   8.00     5/4/2017   CHF     65.07
DekaBank Deutsche Girozentr   3.00    4/30/2019   EUR     69.52
UniCredit Bank AG             5.00    7/30/2018   EUR     71.46
Landesbank Baden-Wuerttembe   4.00    6/22/2018   EUR     68.30
Landesbank Baden-Wuerttembe   3.60    6/22/2018   EUR     65.86
UBS AG                        7.40    5/17/2021   CHF     73.52
Societe Generale SA           9.50    5/21/2018   USD     48.32
Notenstein La Roche Private   4.20    5/22/2019   CHF     66.85
Notenstein La Roche Private   4.50    5/22/2018   CHF     67.39
Landesbank Baden-Wuerttembe   3.00    7/26/2019   EUR     72.45
Credit Suisse AG/London       4.00    5/22/2017   CHF     74.69
DekaBank Deutsche Girozentr   3.00    5/12/2017   EUR     61.52
DekaBank Deutsche Girozentr   2.80    5/13/2019   EUR     64.55
Notenstein La Roche Private   4.10     6/5/2019   CHF     74.16
Notenstein La Roche Private   4.00    5/29/2017   CHF     73.50
Zurcher Kantonalbank Financ   3.80    5/22/2017   EUR     63.09
UBS AG/London                 7.00    5/22/2017   CHF     61.45
UBS AG/London                 8.00    5/26/2017   EUR     60.55
Leonteq Securities AG         9.92    5/29/2017   EUR     63.27
Notenstein La Roche Private   4.30     6/5/2019   CHF     72.40
Notenstein La Roche Private   5.80     6/5/2018   CHF     72.63
Commerzbank AG                6.76    6/22/2017   EUR     61.59
BNP Paribas Emissions- und    3.25   11/24/2017   EUR     71.91
Landesbank Baden-Wuerttembe   3.50    7/27/2018   EUR     68.25
Landesbank Baden-Wuerttembe   3.50    7/27/2018   EUR     64.83
Landesbank Baden-Wuerttembe   3.40    7/27/2018   EUR     68.61
Landesbank Baden-Wuerttembe   4.00    6/23/2017   EUR     69.23
Landesbank Baden-Wuerttembe   5.50    6/23/2017   EUR     64.52
Landesbank Baden-Wuerttembe   4.00    6/23/2017   EUR     69.10
Landesbank Baden-Wuerttembe   5.50    6/23/2017   EUR     64.50
Landesbank Baden-Wuerttembe   2.50    6/23/2017   EUR     70.07
Landesbank Baden-Wuerttembe   3.50    6/23/2017   EUR     66.05
Landesbank Baden-Wuerttembe   4.50    6/23/2017   EUR     63.02
Landesbank Baden-Wuerttembe   2.50    6/23/2017   EUR     66.93
Landesbank Baden-Wuerttembe   4.00    6/23/2017   EUR     61.04
Landesbank Baden-Wuerttembe   5.50    6/23/2017   EUR     56.86
Credit Suisse AG/London       8.95   10/17/2019   USD      9.35
RGS Nedvizhimost OOO         12.50   12/11/2017   RUB     60.03
URALSIB Leasing Co OOO       11.50   12/21/2017   RUB      0.01
Vontobel Financial Products   3.00    6/13/2017   EUR     54.87
EFG International Finance G  12.86   10/30/2017   EUR      7.76
Landesbank Baden-Wuerttembe   3.85    8/25/2017   EUR     67.29
UBS AG/London                10.00    3/16/2017   CHF     22.85
Lehman Brothers Treasury Co   8.28    3/26/2009   USD      1.21
Lehman Brothers Treasury Co   6.85   12/22/2008   EUR      1.21
Lehman Brothers Treasury Co   7.60    3/26/2009   EUR      1.21
Lehman Brothers Treasury Co   7.55   12/29/2008   USD      1.21
Fargo Finance OOO             9.00     2/6/2019   RUB      0.01
HSBC Bank PLC                 0.50    12/8/2020   BRL     70.58
Societe Generale SA           0.50     4/4/2024   MXN     52.76
Barclays Bank PLC             1.99    12/1/2040   USD     69.68
Lehman Brothers Treasury Co   9.25    6/20/2012   USD      1.21
Lehman Brothers Treasury Co   3.00    9/13/2010   JPY      9.25
Societe Generale SA           0.50     8/4/2021   BRL     63.38
Polski Bank Spoldzielczy w    4.81    6/22/2021   PLN     55.00
Zurcher Kantonalbank Financ  11.25    4/26/2017   CHF     46.22
Vontobel Financial Products   3.00    5/26/2017   CHF     73.71
HSBC Trinkaus & Burkhardt A   4.00    6/16/2017   EUR     70.54
Kommunekredit                 0.50    5/11/2029   CAD     69.76
Lehman Brothers Treasury Co   4.50     3/7/2015   EUR      1.21
Lehman Brothers Treasury Co   0.01    9/20/2011   USD      1.21
Lehman Brothers Treasury Co   7.50     8/1/2035   EUR      1.21
Lehman Brothers Treasury Co   6.00    12/6/2016   USD      1.21
Lehman Brothers Treasury Co   3.00     8/8/2017   EUR      1.21
Hellas Telecommunications L   8.50   10/15/2013   EUR      0.28
Lehman Brothers Treasury Co   5.00     9/1/2011   EUR      1.21
Lehman Brothers Treasury Co   3.00    8/15/2017   EUR      1.21
Municipality Finance PLC      0.25    6/28/2040   CAD     30.43
Lehman Brothers Treasury Co   4.50   12/30/2010   USD      1.21
Lehman Brothers Treasury Co   7.00    7/11/2010   EUR      1.21
Lehman Brothers Treasury Co   5.00     8/1/2025   EUR      1.21
Lehman Brothers Treasury Co   6.00    7/28/2010   EUR      1.21
Lehman Brothers Treasury Co   6.00    7/28/2010   EUR      1.21
Lehman Brothers Treasury Co   4.90    7/28/2020   EUR      1.21
Lehman Brothers Treasury Co   4.15    8/25/2020   EUR      1.21
Lehman Brothers Treasury Co   3.50    9/29/2017   EUR      1.21
Lehman Brothers Treasury Co   3.50    9/19/2017   EUR      1.21
Lehman Brothers Treasury Co  10.00     1/4/2010   USD      1.21
Lehman Brothers Treasury Co  12.00    7/13/2037   JPY      1.21
Lehman Brothers Treasury Co  10.00    6/11/2038   JPY      1.21
Lehman Brothers Treasury Co   5.00    12/6/2011   EUR      1.21
Lehman Brothers Treasury Co   1.50     2/8/2012   CHF      1.21
Lehman Brothers Treasury Co   4.00    4/24/2009   USD      1.21
Lehman Brothers Treasury Co   9.00    6/13/2009   USD      1.21
Lehman Brothers Treasury Co   3.85    4/24/2009   USD      1.21
Lehman Brothers Treasury Co  10.50     8/9/2010   EUR      1.21
Lehman Brothers Treasury Co   5.75    6/15/2009   CHF      1.21
Lehman Brothers Treasury Co  10.00    3/27/2009   USD      1.21
Lehman Brothers Treasury Co   4.95   10/25/2036   EUR      1.21
Lehman Brothers Treasury Co  11.00    6/29/2009   EUR      1.21
Lehman Brothers Treasury Co   5.50    6/15/2009   CHF      1.21
Immigon Portfolioabbau AG     0.69    5/20/2025   EUR     59.88
Lehman Brothers Treasury Co   1.50   10/25/2011   EUR      1.21
Lehman Brothers Treasury Co   6.00    6/21/2011   EUR      1.21
Lehman Brothers Treasury Co   7.59   11/22/2009   MXN      9.25
Lehman Brothers Treasury Co   0.50    2/16/2009   EUR      1.21
Immigon Portfolioabbau AG     0.98     3/1/2022   EUR     73.63
Lehman Brothers Treasury Co   6.00    3/17/2011   EUR      1.21
Lehman Brothers Treasury Co   4.70    3/23/2016   EUR      1.21
Lehman Brothers Treasury Co   4.70    3/23/2016   EUR      1.21
Lehman Brothers Treasury Co   6.50    7/24/2026   EUR      1.21
Lehman Brothers Treasury Co   4.50     8/2/2009   USD      1.21
Lehman Brothers Treasury Co   9.00    3/17/2009   GBP      1.21
Lehman Brothers Treasury Co   7.00   11/28/2008   CHF      1.21
Lehman Brothers Treasury Co   8.00    5/22/2009   USD      1.21
Lehman Brothers Treasury Co   4.50    7/24/2014   EUR      1.21
Lehman Brothers Treasury Co   7.75    1/30/2009   EUR      1.21
Lehman Brothers Treasury Co   0.25    7/21/2014   EUR      1.21
Lehman Brothers Treasury Co   8.00     8/3/2009   USD      1.21
Lehman Brothers Treasury Co   4.00   11/24/2016   EUR      1.21
Immigon Portfolioabbau AG     4.78     6/7/2030   EUR     70.63
Lehman Brothers Treasury Co   8.00    4/20/2009   EUR      1.21
SpareBank 1 Noetteroey - To   8.25                NOK     53.12
Lehman Brothers Treasury Co   2.00   11/16/2009   EUR      1.21
Petromena ASA                 9.75    5/24/2016   NOK      0.57
Lehman Brothers Treasury Co   3.70     6/6/2009   EUR      1.21
Lehman Brothers Treasury Co   7.50    9/13/2009   CHF      1.21
Lehman Brothers Treasury Co   6.00    2/14/2012   EUR      1.21
Lehman Brothers Treasury Co   7.00    2/15/2012   EUR      1.21
Lehman Brothers Treasury Co  15.00    3/30/2011   EUR      1.21
Lehman Brothers Treasury Co   4.69    2/19/2017   EUR      1.21
Lehman Brothers Treasury Co   4.10    2/19/2010   EUR      1.21
Lehman Brothers Treasury Co   6.60    2/22/2012   EUR      1.21
Lehman Brothers Treasury Co   5.20    3/19/2018   EUR      1.21
Lehman Brothers Treasury Co   3.50   10/31/2011   USD      1.21
Lehman Brothers Treasury Co   3.50   10/24/2011   USD      1.21
HSBC Trinkaus & Burkhardt A  11.10    3/24/2017   EUR     68.26
HSBC Trinkaus & Burkhardt A   7.00    6/23/2017   EUR     73.41
HSBC Trinkaus & Burkhardt A   8.20    3/24/2017   EUR     56.58
Municipality Finance PLC      0.50   12/15/2020   BRL     69.59
First Collection Bureau OJS  15.00   10/15/2021   RUB     60.03
DZ Bank AG Deutsche Zentral   7.50    3/24/2017   EUR     72.09
DZ Bank AG Deutsche Zentral   4.00    3/24/2017   EUR     70.24
DZ Bank AG Deutsche Zentral   6.25    3/24/2017   EUR     73.53
UBS AG                       10.83    5/15/2017   USD     23.56
HSBC Trinkaus & Burkhardt A   7.90    6/23/2017   EUR     74.94
HSBC Trinkaus & Burkhardt A   8.60    1/27/2017   EUR     73.04
HSBC Trinkaus & Burkhardt A   7.90    1/27/2017   EUR     71.69
HSBC Trinkaus & Burkhardt A  16.10    3/24/2017   EUR     43.62
Credit Suisse AG/London       3.00   11/15/2025   ZAR     61.19
DZ Bank AG Deutsche Zentral   7.00    3/24/2017   EUR     52.75
DZ Bank AG Deutsche Zentral   6.00    3/24/2017   EUR     70.68
DekaBank Deutsche Girozentr   3.50   10/28/2019   EUR     66.97
Bank Julius Baer & Co Ltd/G   5.50    11/6/2017   CHF     61.80
Deutsche Bank AG              7.20    3/21/2017   EUR     70.50
Deutsche Bank AG              9.20    3/21/2017   EUR     71.00
Deutsche Bank AG              9.20    3/21/2017   EUR     68.30
Deutsche Bank AG              5.50    3/21/2017   EUR     74.20
Credit Suisse AG/London       7.00    5/16/2017   CHF     70.49
DZ Bank AG Deutsche Zentral   5.25    3/24/2017   EUR     71.73
Deutsche Bank AG              5.20    3/21/2017   EUR     70.10
UBS AG/London                10.50   11/13/2017   CHF     74.70
Deutsche Bank AG              7.20    6/20/2017   EUR     74.60
Deutsche Bank AG              7.20    6/20/2017   EUR     71.60
DZ Bank AG Deutsche Zentral   7.70    3/24/2017   EUR     74.04
UniCredit Bank AG             5.00    6/22/2017   EUR     72.37
UniCredit Bank AG             5.00    6/22/2017   EUR     73.70
Deutsche Bank AG              7.20    7/26/2017   EUR     73.50
Zurcher Kantonalbank Financ  12.00    11/1/2017   CHF     74.09
Deutsche Bank AG              5.20    6/20/2017   EUR     73.70
Deutsche Bank AG              5.20    6/20/2017   EUR     70.70
Deutsche Bank AG              7.20    6/20/2017   EUR     71.60
Deutsche Bank AG              7.20    6/20/2017   EUR     74.10
Deutsche Bank AG              5.20    6/20/2017   EUR     73.20
Deutsche Bank AG              5.20    6/20/2017   EUR     70.60
UniCredit Bank AG             4.80    6/22/2017   EUR     74.27
UniCredit Bank AG             5.00    6/22/2017   EUR     73.02
UniCredit Bank AG             4.80    6/22/2017   EUR     74.93
Deutsche Bank AG              5.20    7/26/2017   EUR     72.30
Deutsche Bank AG              9.20    7/26/2017   EUR     74.60
Leonteq Securities AG         7.40   11/20/2017   EUR     70.42
Credit Suisse AG/Nassau       7.25    6/14/2017   CHF     66.72
Deutsche Bank AG              6.50    6/20/2017   EUR     75.00
UBS AG/London                 4.22    7/30/2018   USD     14.26
UBS AG/London                 6.06    1/30/2018   USD     52.84
UBS AG/London                 9.30    3/10/2017   EUR     70.47
Lehman Brothers Treasury Co   6.70    4/21/2011   USD      1.21
Lehman Brothers Treasury Co   3.00    9/12/2036   JPY      9.25
Lehman Brothers Treasury Co   4.68   12/12/2045   EUR      1.21
Lehman Brothers Treasury Co   5.22     3/1/2024   EUR      1.21
DekaBank Deutsche Girozentr   2.60    6/15/2018   EUR     71.26
Synergy PJSC                 12.90    4/29/2020   RUB     63.00
BNP Paribas Emissions- und   15.00    3/23/2017   EUR     68.69
BNP Paribas Emissions- und   18.00    3/23/2017   EUR     63.12
BNP Paribas Emissions- und   25.00    3/23/2017   EUR     55.14
BNP Paribas Emissions- und   15.00   12/21/2017   EUR     69.97
BNP Paribas Emissions- und   16.00   12/21/2017   EUR     67.60
BNP Paribas Emissions- und   19.00   12/21/2017   EUR     65.63
Vontobel Financial Products   8.35    5/26/2017   USD     72.96
DZ Bank AG Deutsche Zentral  11.50    6/23/2017   EUR     62.74
BNP Paribas Emissions- und   16.00    3/23/2017   EUR     65.65
BNP Paribas Emissions- und   24.00    3/23/2017   EUR     56.99
BNP Paribas Emissions- und   18.00   12/21/2017   EUR     66.51
HSBC Trinkaus & Burkhardt A   5.00    4/28/2017   EUR     65.07
Zurcher Kantonalbank Financ  14.75    5/11/2017   CHF     71.13
IDGC of the North Caucasus   13.00    4/22/2021   RUB     60.00
Commerzbank AG               23.00    4/27/2017   EUR     74.74
Lehman Brothers Treasury Co  13.00   12/14/2012   USD      1.21
Lehman Brothers Treasury Co   5.25     4/1/2023   EUR      1.21
Lehman Brothers Treasury Co   3.00    6/23/2009   EUR      9.25
Lehman Brothers Treasury Co   2.30    4/28/2014   JPY      1.21
Lehman Brothers Treasury Co   4.00    2/28/2010   EUR      1.21
Melhus Sparebank              2.73    9/16/2024   NOK     72.08
Svensk Exportkredit AB        0.50    8/25/2021   ZAR     66.78
Commerzbank AG               20.00    5/28/2018   SEK     65.49
Societe Generale Effekten G   4.00    6/26/2017   EUR     49.64
HSBC Trinkaus & Burkhardt A   7.70    3/24/2017   EUR     73.60
HSBC Trinkaus & Burkhardt A   1.75    8/25/2017   EUR     61.17
Commerzbank AG                4.00     9/8/2017   EUR     66.96
HSBC Trinkaus & Burkhardt A   9.20    6/23/2017   EUR     64.13
HSBC Trinkaus & Burkhardt A   7.20    9/22/2017   EUR     66.72
HSBC Trinkaus & Burkhardt A   4.40    9/22/2017   EUR     70.41
Eiendomskreditt               5.43                NOK     69.75
Lloyds Bank PLC               0.50    7/26/2028   MXN     40.99
Podkarpacki Bank Spoldzielc   5.11    5/28/2023   PLN     51.85
Lehman Brothers Treasury Co   4.05    9/16/2008   EUR      1.21
Immigon Portfolioabbau AG     4.21    1/25/2033   EUR     61.88
Lehman Brothers Treasury Co   7.25    6/20/2010   USD      1.21
Lehman Brothers Treasury Co   7.00    9/20/2011   USD      1.21
Lehman Brothers Treasury Co   4.10    5/20/2009   USD      1.21
Lehman Brothers Treasury Co   2.00    5/17/2010   EUR      1.21
Lehman Brothers Treasury Co   3.82   10/20/2009   USD      1.21
Lehman Brothers Treasury Co   2.75   10/28/2009   EUR      1.21
IT Holding Finance SA         9.88   11/15/2012   EUR      0.11
Lehman Brothers Treasury Co   4.10    8/23/2010   USD      1.21
Lehman Brothers Treasury Co   5.12    4/30/2027   EUR      1.21
Lehman Brothers Treasury Co   7.75    2/21/2016   EUR      1.21
Lehman Brothers Treasury Co   3.63     3/2/2012   EUR      1.21
Lehman Brothers Treasury Co   8.00   12/27/2032   JPY      1.21
Lehman Brothers Treasury Co   0.75    3/29/2012   EUR      1.21
Nota-Bank OJSC               13.50     4/1/2016   RUB     31.50
URALSIB Leasing Co OOO       10.25    3/21/2019   RUB      0.01
Societe Generale SA           0.50    4/30/2023   RUB     61.33
HSBC Bank PLC                 0.50     6/9/2023   MXN     57.41
Credit Agricole Corporate &   2.00     7/9/2020   BRL     72.42
Immigon Portfolioabbau AG     4.20    2/22/2033   EUR     61.88
SG Issuer SA                  5.50    4/10/2021   EUR     67.20
Podkarpacki Bank Spoldzielc   5.79    3/31/2025   PLN     55.29
Landesbank Hessen-Thueringe   4.00    5/16/2018   EUR     69.68
Syntagma OOO                 16.50    5/10/2022   RUB      0.01
Goldman Sachs & Co Wertpapi  23.00    5/24/2017   EUR     73.81
URALSIB Leasing Co OOO       10.50    4/17/2018   RUB      0.01
Notenstein La Roche Private  15.00   12/27/2017   CHF     71.93
Exane Finance                 3.00    9/18/2018   USD     72.53
Vontobel Financial Products  18.40    9/11/2017   EUR     69.11
Bank Julius Baer & Co Ltd/G  12.80    9/20/2017   CHF     61.95
Bank Julius Baer & Co Ltd/G  13.85    9/20/2017   CHF     65.70
UBS AG                        8.29    9/21/2017   USD     30.40
Leonteq Securities AG         5.20    8/14/2017   CHF     74.76
UBS AG/London                11.00     8/7/2017   USD     72.45
Notenstein La Roche Private   7.20     2/7/2017   CHF     70.25
DekaBank Deutsche Girozentr   4.75    1/20/2017   EUR     66.20
Bank Julius Baer & Co Ltd/G   5.00    8/21/2017   CHF     74.60
Lehman Brothers Treasury Co   2.40    6/20/2011   JPY      1.21
Lehman Brothers Treasury Co   1.60    6/21/2010   JPY      1.21
JP Morgan Structured Produc   3.60    7/17/2017   USD     72.92
Landesbank Baden-Wuerttembe   2.90    7/27/2018   EUR     69.19
Landesbank Baden-Wuerttembe   2.70    7/26/2019   EUR     74.01
Goldman Sachs & Co Wertpapi   5.00    3/22/2017   EUR     73.47
Goldman Sachs & Co Wertpapi   7.00    3/22/2017   EUR     67.52
Goldman Sachs & Co Wertpapi   7.00    6/21/2017   EUR     68.95
Goldman Sachs & Co Wertpapi   5.00    6/21/2017   EUR     73.26
Notenstein La Roche Private   4.20    7/17/2019   CHF     70.98
Vontobel Financial Products   4.65    7/24/2017   EUR     68.00
BNP Paribas Emissions- und    4.00    7/27/2017   EUR     69.90
Bank Julius Baer & Co Ltd/G   6.00    7/24/2017   CHF     69.25
UBS AG/London                 7.00    7/17/2017   CHF     56.75
Notenstein La Roche Private   4.00    7/24/2019   CHF     70.36
Notenstein La Roche Private   6.70    7/24/2017   EUR     71.32
Notenstein La Roche Private   7.00    1/24/2017   CHF     67.48
Exane Finance                 6.25   12/20/2019   SEK     70.35
Credit Suisse AG/Nassau       6.00    7/31/2017   CHF     74.64
Notenstein La Roche Private   8.99    7/22/2019   EUR     43.98
DZ Bank AG Deutsche Zentral   6.00    3/24/2017   EUR     72.62
DZ Bank AG Deutsche Zentral   7.00    3/24/2017   EUR     72.12
Leonteq Securities AG         5.80    8/24/2017   CHF     74.66
Leonteq Securities AG         5.00     9/4/2018   CHF     58.84
UniCredit Bank AG             3.95    10/7/2019   EUR     68.04
Credit Suisse AG/Nassau       7.25     3/8/2017   CHF     60.76
Goldman Sachs & Co Wertpapi  15.00    3/22/2017   EUR     69.00
Goldman Sachs & Co Wertpapi  14.00    6/21/2017   EUR     71.43
Bank Julius Baer & Co Ltd/G  11.85    8/30/2017   CHF     56.70
Zurcher Kantonalbank Financ  10.00    8/18/2017   CHF     63.65
Goldman Sachs & Co Wertpapi  10.00    3/22/2017   EUR     61.79
Leonteq Securities AG         6.77    8/17/2017   CHF     56.82
Deutsche Bank AG              5.20    3/21/2017   EUR     73.40
Deutsche Bank AG              7.20    3/21/2017   EUR     67.80
Deutsche Bank AG              7.20    3/21/2017   EUR     63.10
Deutsche Bank AG              5.20    3/21/2017   EUR     60.50
Deutsche Bank AG              5.20    3/21/2017   EUR     70.50
Deutsche Bank AG              7.20    3/21/2017   EUR     71.00
Deutsche Bank AG              7.20    3/21/2017   EUR     67.20
Deutsche Bank AG              7.20    3/21/2017   EUR     63.70
Leonteq Securities AG         5.40    8/28/2017   CHF     59.04
UBS AG/London                 8.25     8/7/2017   EUR     73.40
Landesbank Baden-Wuerttembe   3.40    9/28/2018   EUR     72.04
Notenstein La Roche Private   7.00    8/11/2017   CHF     72.22
Notenstein La Roche Private   8.02    8/11/2017   EUR     73.12
Credit Suisse AG/London       7.00    2/20/2017   CHF     69.34
DZ Bank AG Deutsche Zentral   3.45    8/25/2017   EUR     72.00
DekaBank Deutsche Girozentr   2.80    7/22/2019   EUR     72.41
Goldman Sachs & Co Wertpapi   3.00    3/22/2017   EUR     70.94
Credit Suisse AG/London       1.64     6/1/2042   USD     48.21
Deutsche Bank AG              7.20    3/21/2017   EUR     73.80
Deutsche Bank AG              5.20    3/21/2017   EUR     67.00
Deutsche Bank AG              5.20    3/21/2017   EUR     67.40
Deutsche Bank AG              7.20    3/21/2017   EUR     65.30
Deutsche Bank AG              7.20    3/21/2017   EUR     61.00
Deutsche Bank AG              7.20    3/21/2017   EUR     59.00
Deutsche Bank AG              7.20    3/21/2017   EUR     67.50
Deutsche Bank AG              5.20    3/21/2017   EUR     64.90
Deutsche Bank AG              5.20    3/21/2017   EUR     62.60
Deutsche Bank AG              5.20    3/21/2017   EUR     58.50
Deutsche Bank AG              7.20    3/21/2017   EUR     74.60
Deutsche Bank AG              5.20    3/21/2017   EUR     68.10
Deutsche Bank AG              5.20    3/21/2017   EUR     66.70
Deutsche Bank AG              5.20    3/21/2017   EUR     63.30
Notenstein La Roche Private   5.02    2/20/2017   CHF     74.98
BNP Paribas Emissions- und   19.00    3/23/2017   EUR     73.59
HSBC Trinkaus & Burkhardt A  10.20    3/24/2017   EUR     71.13
HSBC Trinkaus & Burkhardt A   9.40    3/24/2017   EUR     67.69
HSBC Trinkaus & Burkhardt A   7.30    3/24/2017   EUR     72.58
HSBC Trinkaus & Burkhardt A  14.60    3/24/2017   EUR     46.18
Goldman Sachs & Co Wertpapi  16.00    3/22/2017   EUR     57.39
DekaBank Deutsche Girozentr   3.10     8/4/2017   EUR     55.80
Deutsche Bank AG              3.20   11/22/2017   EUR     72.20
Deutsche Bank AG              3.20   11/22/2017   EUR     71.60
Landesbank Baden-Wuerttembe   4.50    2/24/2017   EUR     72.38
HSBC Trinkaus & Burkhardt A   7.50    3/24/2017   EUR     69.83
Landesbank Baden-Wuerttembe   5.50    2/24/2017   EUR     69.55
Bank Nederlandse Gemeenten    0.50    8/15/2022   ZAR     60.11
DekaBank Deutsche Girozentr   2.75    6/28/2019   EUR     67.35
Goldman Sachs & Co Wertpapi  10.00    3/22/2017   EUR     74.55
Goldman Sachs & Co Wertpapi  14.00    9/20/2017   EUR     70.43
Goldman Sachs & Co Wertpapi   8.00    3/22/2017   EUR     73.38
Goldman Sachs & Co Wertpapi  10.00    3/22/2017   EUR     68.44
Goldman Sachs & Co Wertpapi  12.00    9/20/2017   EUR     67.75
Goldman Sachs & Co Wertpapi  14.00    9/20/2017   EUR     73.30
Lehman Brothers Treasury Co   4.20    12/3/2008   HKD      9.63
Bank Nederlandse Gemeenten    0.50    9/20/2022   ZAR     59.49
Goldman Sachs & Co Wertpapi   9.00    9/20/2017   EUR     71.47
Credit Suisse AG/Nassau       7.00    3/22/2017   CHF     58.98
Goldman Sachs & Co Wertpapi  13.00    3/22/2017   EUR     68.82
Goldman Sachs & Co Wertpapi  16.00    3/22/2017   EUR     64.03
Goldman Sachs & Co Wertpapi  15.00    6/21/2017   EUR     67.48
Goldman Sachs & Co Wertpapi  15.00    3/22/2017   EUR     60.76
Goldman Sachs & Co Wertpapi   8.00    6/21/2017   EUR     74.66
Goldman Sachs & Co Wertpapi  10.00    6/21/2017   EUR     70.64
Goldman Sachs & Co Wertpapi  14.00    6/21/2017   EUR     64.05
Goldman Sachs & Co Wertpapi  10.00    9/20/2017   EUR     70.33
Goldman Sachs & Co Wertpapi  12.00    9/20/2017   EUR     65.90
Goldman Sachs & Co Wertpapi  17.00    3/22/2017   EUR     68.28
BNP Paribas Emissions- und    3.00   10/12/2018   EUR     66.23
Barclays Bank PLC             1.64     6/3/2041   USD     72.23
Leonteq Securities AG         5.60    9/11/2017   CHF     59.65
HSBC Trinkaus & Burkhardt A   7.80    3/24/2017   EUR     73.89
HSBC Trinkaus & Burkhardt A  10.50    3/24/2017   EUR     65.55
HSBC Trinkaus & Burkhardt A   8.20    6/23/2017   EUR     71.22
HSBC Trinkaus & Burkhardt A   7.30    3/24/2017   EUR     61.82
DekaBank Deutsche Girozentr   2.75    6/24/2019   EUR     69.60
Polski Bank Spoldzielczy w    5.29    9/14/2027   PLN     42.50
Municipality Finance PLC      0.50    5/31/2022   ZAR     60.25
Rosbank PJSC                  0.01    2/26/2025   RUB     70.00
URALSIB Leasing Co OOO       11.50     2/6/2018   RUB      0.01
Uginvestgerion OOO           12.10     4/1/2020   RUB      0.01


                            *********

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.

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., Washington, D.C., USA.
Valerie U. Pascual, Marites O. Claro, Rousel Elaine T. Fernandez,
Joy A. Agravante, Julie Anne L. Toledo, Ivy B. Magdadaro, and
Peter A. Chapman, Editors.

Copyright 2017.  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 or Nina Novak at
202-362-8552.


                 * * * End of Transmission * * *