TCREUR_Public/170612.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, June 12, 2017, Vol. 18, No. 115


                            Headlines


A Z E R B A I J A N

KAPITAL BANK: S&P Affirms 'BB-/B' Counterparty Credit Ratings


G E R M A N Y

1860 MUNICH: Faces Insolvency and Demotion Over Unpaid License
AIR BERLIN: Asks NRW States to Consider Possible Loan Guarantees
LOCOMORE: Leo Express Mulls Buying Open Access Operator


I R E L A N D

RATHMOND IRELAND: Judge Grants Examinership Despite Tax Bill


L A T V I A

LIEPAJAS METALURGS: Latvia Authorities Draw Up Buyer Shortlist


N E T H E R L A N D S

GREEN STORM 2017: Fitch Assigns 'B+sf' Rating to Class D Notes


R U S S I A

CB INTERNATIONAL: Liabilities Exceed Assets, Assessment Shows
SIRIUS LLC: Liabilities Exceed Assest, Assessment Shows


S P A I N

BANCO POPULAR: Liquidity Problems Prompt Banco Santander Rescue


S W E D E N

VATTENFALL AB: S&P Affirms 'BB+' Jr. Subordinated Debt Ratings


U N I T E D   K I N G D O M

CO-OPERATIVE BANK: Suitors Tap Barclays to Draw Up Rescue Plan
PARAGON OFFSHORE: Says Consensual Plan Confirmed in U.S.
TOM WOODS: Enters Administration After CVA Payment Default
VULPINE PERFORMANCE: Mango Bikes Buy Brand and Assets


X X X X X X X X

* BOND PRICING: For the Week June 5 to June 9, 2017


                            *********



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A Z E R B A I J A N
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KAPITAL BANK: S&P Affirms 'BB-/B' Counterparty Credit Ratings
-------------------------------------------------------------
S&P Global Ratings revised its assessment of the Azerbaijani
government's likelihood to provide support toward the domestic
banking sector to uncertain from supportive.  Despite this
revision, the 'BB-/B' long- and short-term counterparty credit
ratings on Kapital Bank OJSC and PASHA Bank were affirmed.
The outlooks remain negative.

S&P notes that support to state-owned International Bank of
Azerbaijan (IBA) was not timely and sufficient for all groups of
IBA's senior creditors, and IBA has subsequently entered into a
debt restructuring process.  S&P now believes that future
government support for systemically important banks in the
country is likely to be more unpredictable than its previous
assumptions. Because they are banks of high systemic importance,
the long-term ratings on PASHA Bank and Kapital Bank had
benefited from one notch of uplift for potential government
support.  But because of its revised view of support to
systemically important banks, S&P no longer includes any notches
for potential government support in its assessment of the banks'
creditworthiness in Azerbaijan, and will assess only the banks'
stand-alone credit profiles (SACPs).

IBA missed a scheduled coupon payment on its subordinated note,
and on May 11, 2017, announced it would undertake a debt
restructuring to address its weak financial position and reported
negative equity at year-end 2016.  IBA is the largest bank in
Azerbaijan, accounting for an estimated 40% of system assets.
The affected debt totals US$3.3 billion and includes several
foreign trade financing facilities, loans, and Eurobonds.  It
also includes a US$1 billion deposit at the IBA by State Oil Fund
of the Republic of Azerbaijan (SOFAZ), the country's sovereign
wealth fund.  According to the proposals unveiled during an
investor presentation on May 23, the plan is to exchange most of
these instruments into sovereign bonds with longer tenors and a
financial haircut.  Creditors will also have an option to invest
in the new IBA seven-year bonds.  S&P understands that none of
the debt included in the exchange had an explicit sovereign
guarantee. The final terms of the exchange will depend on the
outcome of the creditors' vote, which the authorities and IBA
management expect will take place in July.  According to the
official announcements, the restructuring will not affect the
bank's retail or corporate deposits.

The ratings on Azerbaijan remain primarily supported by the
sovereign's strong fiscal position, underpinned by the large
foreign assets (about US$33 billion as of April 1, 2017)
accumulated in SOFAZ.

S&P views the trend of economic risk in Azerbaijan as negative,
which reflects S&P's concerns regarding the impact of
macroeconomic factors on the domestic banking sector.  S&P
estimates Azerbaijan's economy contracted by 0.5% in 2017 after
contracting by 3.1% in 2016.  S&P expects growth to recover to
about 3% starting in 2018.  S&P anticipates that the government
may reduce some of its capital expenditures in response to lower
oil prices.  This could put additional pressure on banks'
financial fundamentals if asset quality deteriorates because of
borrowers' reduced debt-servicing capacity.  Therefore, S&P
thinks that the Azerbaijan economy remains in a correction phase
with a high impact on its banking sector.  This can be seen in
elevated credit costs and nonperforming loans (NPLs) on the
banks' balance sheets.  S&P expects bank lending to demonstrate
quite anemic or even negative growth over 2017-2018; however,
NPLs, including restructured loans and credit costs, will likely
trend up to an estimated 23%-25% of the banks' loan portfolios,
with restructured loans accounting for about a half of that
amount.

"We view the trend for industry risk in the Azeri banking sector
as stable.  We expect the industry structure to remain broadly
the same.  Although the banking system has a relatively high
level of core customer deposits and no net reliance on external
funding, steep manat depreciation over the past two years has led
to protracted currency misbalances between banks' assets and
liabilities, owing to the rapid growth of the share of foreign
currency funding to more than 80% of banks' customer funds by the
end of 2016.  This was a result of massive conversion of deposits
into foreign currency following the manat's depreciation," S&P
said.

S&P's view of increased economic risk puts pressure on its anchor
of 'bb-', which is the starting point for S&P's ratings on banks
operating predominantly in Azerbaijan.

At the same time, S&P believes that Kapital Bank and PASHA
Bank -- the second- and third-largest banks in the country --
could benefit from IBA's financial rehabilitation and could
improve their business positions and customers' diversity in the
next 12-18 months.  S&P is therefore affirming its 'BB-/B'
ratings on PASHA Bank and Kapital Bank, and maintaining our
negative outlooks on the banks.

                           KAPITAL BANK

The affirmation of S&P's ratings on Kapital bank reflects S&P's
view that the bank will maintain, and likely increase, its
already material market share in Azerbaijan, while its operating
revenues continue increasing progressively and its profitability
remains high.  S&P believes that Kapital Bank is a sustained
outperformer in its peer group, thanks to the structural changes
and competitive trends that are strengthening its
creditworthiness, which is more consistent with a higher rating
than its SACP, which S&P assesses at 'b+'.  Therefore, the rating
on the bank benefits from a positive notch above its SACP for
flexibility.  The affirmation also reflects S&P's expectation
that the bank's capitalization will remain moderate in the next
12-18 months, while its asset quality and approach to risk
management will be in line with the system average.

S&P continues to assess Kapital Bank's business position as
adequate, balancing its sound client franchise and stable
operating revenues, focusing on Azerbaijan and being small in a
global context.  Nevertheless, S&P believes that the bank's
ability to sustain economic and industry risks in Azerbaijan is
strengthening.  The bank remains the third-largest in the country
in terms of loans with a market share of about 8.1%.  The bank's
deposits make up about 15.8% of systemwide deposits.  S&P also
notes that the bank demonstrates sustainably growing operating
revenues and a return on equity exceeding 20% over the last four
years.  S&P anticipates that Kapital Bank will demonstrate
continuing business growth, in the meantime expanding its
clientele from failed local banks.  S&P also expects that the
bank will continue to outperform its local peers in terms of
profitability.

"We view Kapital Bank's capitalization as moderate, given that we
expect its forecast risk-adjusted capital ratio will remain in
the range of 5.7%-6.2% in the next 12-18 months.  We think that
Kapital Bank's asset quality will remain largely in line with the
system average and NPLs will not exceed 8%-9% in the next 12-18
months, considering the successful restructuring of a large
problem loan this year.  We anticipate that the bank will keep a
sizable share of highly liquid assets, which at the moment
represent about 30% of the bank's balance sheet.  We continue to
assess the bank's funding as average, reflecting stability of its
customer deposits and good funding metrics," S&P said.

                               OUTLOOK

The negative outlook reflects S&P's view that Kapital Bank's
asset quality may deteriorate and exceed the system average, due
to the still difficult economic environment in Azerbaijan and
relatively high single-name concentration of the bank's loan
book.  The negative outlook also reflects risks that the bank's
asset quality and capitalization may come under increasing
pressure if the economic situation in Azerbaijan continues to
deteriorate.

S&P could lower the ratings in the next 12-18 months if it sees
that the bank's asset quality is sustainably worse than that of
its peers.  A negative rating action may also follow pronounced
weakening of the Azeri economy, or if the bank does not continue
to adequately benefit from its improved structural position in
the banking sector to warrant the notch of flexibility S&P
incorporated in its rating on the bank.

S&P would consider revising the outlook to stable if it sees that
Kapital Bank's asset quality is in line with S&P's expectations,
while economic risks stabilize.  An outlook revision to stable
would be possible only if the bank's capitalization does not
materially deteriorate and there is no further increase of its
portfolio concentrations.

                             PASHA BANK

The affirmation of the ratings on PASHA Bank reflects S&P's
forward-looking view that the bank will likely further strengthen
its already sound market position in Azerbaijan, which in turn
will translate into better customer diversity and funding
structure.  S&P thinks that the bank's business stability may
benefit from further development of its overseas business in
Turkey and Georgia.  That said, S&P believes that PASHA Bank is
now in a positive transition, which helps to strengthen its
creditworthiness.  S&P therefore applies a positive transitional
notch to the bank's SACP, which S&P still assess at 'b+'.  The
affirmation also supports S&P's view that the bank will be able
to maintain adequate asset quality with NPLs not exceeding the
system average.  S&P also expects that the bank will maintain
adequate capitalization, which supports PASHA Bank's good ability
to absorb credit losses.

In S&P's view, the high single-name concentration of PASHA Bank's
depositor base still weighs on its credit profile.  S&P notes,
however, that risks associated with weak customer diversity are
mitigated by the material share of highly-liquid assets on the
bank's balance sheet and the relative stickiness of its
depositors.  S&P also notes that the bank's low reliance on
wholesale funding and the highly liquid nature of the bank's
balance sheet support its liquidity and funding metrics, which
materially exceed those of peers.  That said, S&P expects that
PASHA Bank's customer diversity will benefit from its business
expansion in Azerbaijan and eventually prompt S&P to revise up
its assessment of its funding profile.

                           OUTLOOK

The negative outlook on PASHA Bank reflects S&P's expectation
that the bank's capital position and asset quality may
deteriorate further if already-pronounced economic risks in
Azerbaijan increase.

S&P could lower the ratings in the next 12-18 months if it sees
further weakening of economic prospects in Azerbaijan and a
faster-than-currently-expected deterioration in PASHA Bank's
asset quality.  A negative rating action may also follow if the
bank's depositor concentration remains high, while its liquidity
profile deteriorates, or if the bank does not continue to
adequately benefit from its improved structural position in the
banking sector, to continue to warrant the transitional notch S&P
incorporate in its rating on the bank.

A positive rating action is currently unlikely, in S&P's view.
S&P could revise the outlook to stable if it saw an improvement
of operating conditions and economic prospects in Azerbaijan,
leading to substantial improvements in PASHA Bank's asset quality
and credit losses.

BICRA SCORE SNAPSHOT*
Azerbaijan

BICRA Group                     9
Economic risk                  9
   Economic resilience          Very high
   Economic imbalances          High
   Credit risk in the economy   Extremely high
  Trend                         Negative

Industry risk                  9
   Institutional framework      Extremely high
   Competitive dynamics         High
   Systemwide funding           Very high
  Trend                         Stable

*Banking Industry Country Risk Assessment (BICRA) economic risk
and industry risk scores are on a scale from 1 (lowest risk) to
10 (highest risk).

Kapital Bank OJSC
RATINGS SCORE SNAPSHOT
Issuer Credit Rating    BB-/Negative/B

SACP                    b+
Anchor                 bb-
Business position      Adequate (0)
Capital and earnings   Moderate (0)
Risk position          Adequate (0)
Funding and            Average and
Liquidity              Adequate (0)

Support                 0
GRE support            0
Group support          0
Sovereign support      0

Additional Factors      +1

PASHA Bank
RATINGS SCORE SNAPSHOT
Issuer Credit Rating    BB-/Negative/B

SACP                    b+
Anchor                 bb-
Business position      Adequate (0)
Capital and earnings   Adequate (+1)
Risk position          Adequate (0)
Funding and            Below average and
Liquidity              Adequate (-1)

Support                 0
GRE support            0
Group support          0
Sovereign support      0

Additional factors      +1

Ratings List

Ratings Affirmed

Kapital Bank OJSC
Counterparty Credit Rating             BB-/Negative/B

PASHA Bank
Counterparty Credit Rating             BB-/Negative/B



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G E R M A N Y
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1860 MUNICH: Faces Insolvency and Demotion Over Unpaid License
--------------------------------------------------------------
The Associated Press reports that former Bundesliga team 1860
Munich said on June 1 its financial backer has made demands that
cannot be fulfilled, creating an impasse that threatens the
club's future.

1860, which was relegated from Germany's second division on
May 30, faces insolvency and demotion to the fourth or fifth tier
unless it can make a payment to the German soccer federation for
its third-division license by June 2.

"Before the relegation playoff games, Hasan Ismaik had already
made his financial commitment dependent, irrespective of which
division we are in, on a number of demands that the club cannot
fulfill for legal and organizational reasons," 1860 vice
presidents Heinz Schmidt and Hans Sitzberger said in a statement
addressed to club members, the AP relays. "Corresponding
statements from the league association support our assessment."

Messrs. Schmidt and Sitzberger are the highest remaining
officials at 1860 following the resignations of president Peter
Cassalette and chief executive Ian Ayre, according to the AP.

"Officials are currently checking all conceivable options in
regard to professional football and in close contact with the
club's internal bodies and associations. As soon as we can
provide details, we will inform our members directly and first,"
the report quotes Messrs. Schmidt and Sitzberger as saying.

According to the AP, Messrs. Schmidt and Sitzberger said 1860's
youth teams were not affected and that their plans for the coming
season were being made "independently of the development in
professional football. Thanks to the many loyal members of TSV
1860 Munich and reliable long-term sponsors, the coming year is
secured in the up-and-coming generation."

The Sueddeutsche Zeitung newspaper reported that Ismaik, a
Jordanian billionaire who saved 1860 from insolvency in 2011 when
he acquired 60 percent of the club, made his financial support
dependent on conditions that would have given him more power, the
AP discloses. Ismaik only has 49 percent voting rights in line
with the Bundesliga's 50-plus-1 regulation, which limits the
influence of external backers.

Mr. Ismaik, who didn't attend 1860's relegation playoff loss to
Jahn Regensburg, denied any responsibility for the club's plight
in a Facebook post where he blasted its management, the AP says.

"This club is currently characterized by unscrupulous power
struggles and internal quarrels, which now have to be cut out.
Only then does TSV 1860 have a future again," the AP quotes
Mr. Ismaik as saying.

"Mr. Ismaik is the key person at the moment," the report quotes
DFB vice president as saying Rainer Koch, who is also the
president of the Bavarian soccer federation. "If the conditions
are not met, there's no license."

1860, which won the Bundesliga in 1966, last played in Germany's
top league in 2004.


AIR BERLIN: Asks NRW States to Consider Possible Loan Guarantees
----------------------------------------------------------------
Peter Maushagen at Reuters reports that ailing German airline Air
Berlin said on June 8 it has asked the German states of North-
Rhine Westphalia (NRW) and Berlin to consider possible loan
guarantees amid signs of waning support from Etihad Airways, its
biggest shareholder.

Abu Dhabi-owned Etihad, which has thrown Air Berlin several life
lines over the years, earlier on June 8 said it had pulled out of
a prospective deal to combine Air Berlin's holiday flight
business Niki with tour operator TUI Group's own carrier TUIfly,
Reuters relates.

Bigger German rival Lufthansa, which last year agreed to lease 38
crewed planes from Air Berlin, has held talks recently with the
Abu Dhabi government about taking part in salvaging the remaining
Air Berlin business but said its debt was a sticking point,
Reuters notes.

Air Berlin, whose losses increased to a record EUR782 million
(US$877 million) in 2016, is now scrambling to protect its
roughly 8,000 jobs in Germany, mainly based in the two regional
states of Berlin and NRW, Reuters discloses.

German newspaper Die Welt was first to report the Air Berlin loan
guarantee request, saying the aim was to see whether the regional
states would be ready to step in, citing people close to the
negotiation, Reuters relays.

For now, Etihad continues to provide funding, Reuters notes.  Air
Berlin said Etihad has granted another loan facility of EUR350
million and a letter of support for at least 18 months, according
to Reuters.

According to Reuters, Air Berlin Chief Executive Thomas
Winkelmann told a German newspaper on June 7 he would have to
find a partner this year to help secure jobs and the company's
long-term future and a pact with Lufthansa was among the options.

Air Berlin Plc is a Germany-based airline that is registered in
the United Kingdom.


LOCOMORE: Leo Express Mulls Buying Open Access Operator
-------------------------------------------------------
Railwaygazette.com reports that Leo Express is looking to acquire
German open access operator Locomore, which recently filed for
insolvency.

Speaking to German newspaper Handelsblatt, Leo Express CEO Peter
Kohler confirmed that the Czech open access operator, not
currently present in the German market, has made an offer for
Locomore, Railwaygazette.com relates.

According to the report, Mr. Kohler said that LEO Express was
'looking closely' at merger and acquisition opportunities in the
European rail market and 'Locomore is among them'. He did not
provide further details at this stage.

Railwaygazette.com says Locomore had launched a partly crowd-
funded daily return service between Berlin and Stuttgart in
December 2016 using refurbished rolling stock, but revenue did
not grow fast enough to make the business sustainable. Following
its insolvency filing last month, Locomore said that it was
'intensively looking' for investors, which could save the
business, Railwaygazette.com relays.



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I R E L A N D
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RATHMOND IRELAND: Judge Grants Examinership Despite Tax Bill
------------------------------------------------------------
Gavin Daly at The Sunday Times reports that a High Court judge
has referred the actions of a Dublin restaurant director to the
Office of Director of Corporate Enforcement (ODCE) after his
company racked up a hefty tax bill and then sought examinership
protection.

Judge Caroline Costello granted examinership to Rathmond Ireland,
which runs Aussie BBQ restaurants, "with some considerable
hesitation" because of the "grave" wrongdoing in failing to pay
about GBP160,000 in tax payments, The Sunday Times relates.  The
examinership was opposed by the Revenue, The Sunday Times
discloses.

According to The Sunday Times Barry Sheehan, the founder and
managing director of Rathmond, said he regretted the actions and
believed the company could trade out of its difficulties.



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L A T V I A
===========


LIEPAJAS METALURGS: Latvia Authorities Draw Up Buyer Shortlist
--------------------------------------------------------------
Metal Bulletin reports that the Latvian authorities are planning
to sell the country's sole steelmaker, Liepajas Metalurgs, later
this year.

Latvia's court-determined deadline for the sale of Liepajas
Metalurgs is June 16, Metal Bulletin relates citing Latvian
newspapers LSM and Delfi.

Delfi said although no bids have been submitted yet, the
potential investors have started the due diligence procedure,
Metal Bulletin relays.

Six potential buyers have already visited the steel plant,
according to the Vladimirs Loginovs, chairman of the Latvian
government's privatisation agency.

"At the moment we have received several offers. Of course, the
negotiations still continue and will be carried out and organised
by [the] administrator," the report quotes Mr. Loginovs as
saying.

              About AS KVV Liepajas Metalurgs

AS KVV Liepajas Metalurgs manufactures, markets, and exports
steel products in Latvia and internationally. The Company was
founded in 1882 and is based in Liepaja, Latvia. As of October
31, 2014, AS KVV Liepajas Metalurgs operates as a subsidiary of
KVV Group.

As of September 16, 2016, AS KVV Liepajas Metalurgs is in
reorganization, with proceedings in the Liepaja Court.  Guntars
Koris serves as insolvency administrator for the Company.

The insolvency case against KVV Liepajas Metalurgs started as two
companies -- JSC G4S Latvia and TKB Lizings -- filed complaints
to the court over the company's debts.  Both cases have been
combined into a single civil process.



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


GREEN STORM 2017: Fitch Assigns 'B+sf' Rating to Class D Notes
--------------------------------------------------------------
Fitch Ratings has assigned Green Storm 2017 B.V.'s notes final
ratings as follows:

EUR550 million Class A: 'AAAsf'; Outlook Stable
EUR13.7 million Class B: 'AAsf'; Outlook Stable
EUR12.2 million Class C: 'BBB+sf'; Outlook Stable
EUR12.3 million Class D: 'B+ sf'; Outlook Stable
EUR6 million Class E: Not rated

This transaction is a securitisation of prime Dutch residential
mortgage loans originated and serviced by Obvion N.V. The
portfolio includes mortgage loans funding energy-efficient
(green) properties.

KEY RATING DRIVERS

Mortgages with Green Label
This is a 66-month seasoned portfolio consisting of mortgage
loans funding green properties that relate to the top 15% of the
Dutch residential mortgage market in terms of energy efficiency
or that have shown at least a 30% improvement in energy
efficiency. The portfolio has a weighted average (WA) original
loan-to-market-value (OLTMV) of 87.7% and a WA debt-to-income
ratio (DTI) of 27.5%.

Obvion does not differentiate the mortgage rates based on energy
efficiency and the portfolio's credit characteristics are
comparable to previous STORM transactions rated by Fitch. Hence,
the agency did not differentiate in its analysis between energy-
and non-energy-efficient borrowers.

Revolving Transaction
A five-year revolving period allows new assets to be added to the
portfolio. In Fitch's view, the additional purchase criteria
adequately mitigate any significant risk of potential migration
due to future loan additions. Fitch's analysis considered a
stressed portfolio composition, based on the additional purchase
criteria, rather than the actual portfolio characteristics, in
assigning its ratings.

Interest Rate Hedge
A swap agreement has been entered into with Obvion to hedge any
mismatches between the fixed and floating interest on the loans
and the floating interest on the notes. In addition, the swap
agreement guarantees a minimum level of excess spread for the
transaction, equal to 50bp per year of the outstanding class A
through D notes' balance, less principal deficiency ledgers
(PDLs). The remedial triggers are linked to the credit support
provider's (Rabobank) ratings (AA-/F1+).

Rabobank Main Counterparty
The transaction relies strongly on the creditworthiness of
Rabobank, which fulfils a number of roles. Fitch gave full credit
to the structural features in place, including those mitigating
construction deposit set-off and commingling risk embedded in the
transaction.

RATING SENSITIVITIES

Material increases in the frequency of defaults and loss severity
on defaulted receivables could produce losses larger than Fitch's
base case expectations, which in turn may result in negative
rating action on the notes. Fitch's analysis revealed that a 30%
increase in the WA foreclosure frequency, along with a 30%
decrease in the WA recovery rate, would imply a downgrade of the
class A notes to 'A-sf' from 'AAAsf'.



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


CB INTERNATIONAL: Liabilities Exceed Assets, Assessment Shows
-------------------------------------------------------------
The provisional administration to manage CB International Bank of
Development (JSC) appointed by Bank of Russia by virtue of Order
No. OD-4401, dated December 9, 2016, following the revocation of
its banking license, in the course of examination of the bank's
financial standing has revealed operations aimed at moving out
the bank's assets through making reverse repos and exchanging
securities totalling RUR1.4 billion, according to the press
service of the Central Bank of Russia.

Besides, the analysis of the credit portfolio has demonstrated
the need to revaluate the fair value of approximately 93% of
outstanding loans.

According to the estimate by the provisional administration, the
bank's assets do not exceed RUR95 million, whereas the bank's
liabilities to its creditors amount to RUR1.3 billion.

On March 14, 2017, the Arbitration Court of the City of Moscow
recognized the bank as insolvent (bankrupt).  The State
Corporation Deposit Insurance Agency was appointed as a receiver.

The Bank of Russia submitted the information on the financial
transactions bearing the evidence of the criminal offence
conducted by the former management and owners of the bank to the
Prosecutor General's Office of the Russian Federation, the
Ministry of Internal Affairs of the Russian Federation and the
Investigative Committee of the Russian Federation for
consideration and procedural decision making.


SIRIUS LLC: Liabilities Exceed Assest, Assessment Shows
-------------------------------------------------------
The provisional administration to manage the credit institution
Siberian Bank Sirius LLC appointed by Bank of Russia by virtue of
Order No. OD-109, dated January 23, 2017, following the
revocation of its banking license, in the course of examination
of the bank's financial standing has revealed operations aimed at
moving out the bank's assets by issuing loans to borrowers unable
to execute their obligations and by making agreements on
compensation totalling more than RUR890 million, according to
the press service of the Central Bank of Russia.

According to the estimate by the provisional administration, the
bank's assets equal RUR235 million, whereas its liabilities to
creditors amount to RUR325 billion.

On March 14, 2017, the Arbitration Court of the City of Omsk
recognized the bank as insolvent (bankrupt).  The state
corporation Deposit Insurance Agency was appointed as a receiver.

The Bank of Russia submitted the information on the financial
transactions bearing the evidence of the criminal offence
conducted by the former management and owners of the bank to the
Prosecutor General's Office of the Russian Federation, the
Ministry of Internal Affairs of the Russian Federation and the
Investigative Committee of the Russian Federation for
consideration and procedural decision making.



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


BANCO POPULAR: Liquidity Problems Prompt Banco Santander Rescue
---------------------------------------------------------------
Tobias Buck, Martin Arnold and Rachel Sanderson at The Financial
Times report that Banco Popular Espanol SA burnt through EUR3.6
billion of emergency central bank funding in the first two days
of last week as the Spanish lender suffered the eurozone's first
large-scale bank run, according to two people involved in the
situation.

The Spanish lender, weighed down by EUR37 billion in mostly toxic
property loans, was forced to tell authorities in Madrid on June
6 that it would be unable to open the next day without a rescue
deal to shore up its rapidly evaporating liquidity, the FT
relates.

By 3:00 p.m. Madrid time on June 6, it was clear to supervisors
in Madrid, Brussels and Frankfurt that Popular did not have
enough high-quality loans left to use as security for additional
central bank assistance, the FT discloses.

So European regulators took control of the struggling bank,
wiping out its shareholders and junior bondholders, before
selling it for a symbolic EUR1 to its bigger rival Banco
Santander SA, which was the only bidder in the overnight sale
process, the FT recounts.

"The reasons that triggered that decision were related to the
liquidity problems," the FT quotes Vitor Constancio, vice-
president of the ECB, as saying on June 8.  "There was a bank
run. It was not a matter of assessing the developments of
solvency as such, but the liquidity issue."

As reported by the Troubled Company Reporter-Europe on June 8,
2017, The Telegraph related that Spanish banking giant Banco
Santander SA has stepped in to the rescue ailing rival Banco
Popular Espanol SA by taking over the failing lender for EUR1 in
a watershed deal masterminded by EU regulators to avoid a
damaging collapse.  According to The Telegraph, Santander will
tap its shareholders for EUR7 billion in a rights issue to raise
the capital needed to shore-up Popular's finances in a dramatic
private sector rescue of Spain's sixth-largest lender.  It will
inflict losses of approximately EUR3.3 billion on bond investors
and shareholders but crucially will avoid a taxpayer bailout, The
Telegraph disclosed.

Banco Popular Espanol SA is a Spain-based commercial bank.  The
Bank divides its business into four segments: Commercial Banking,
Corporate and Markets; Insurance Activity, and Asset Management.
The Bank's services and products include saving and current
accounts, fixed-term deposits, investment funds, commercial and
consumer loans, mortgages, cash management, financial assessment
and other banking operations aimed at individuals and small and
medium enterprises (SMEs).  The Bank is a parent company of Grupo
Banco Popular, a group which comprises a number of controlled
entities, such as Targobank SA, GAT FTGENCAT 2005 FTA, Inverlur
Aguilas I SL, Platja Amplaries SL, and Targoinmuebles SA, among
others.  In January 2014, the Company sold its entire 4.6% stake
in Inmobiliaria Colonial SA during a restructuring of the
property firm's capital.



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


VATTENFALL AB: S&P Affirms 'BB+' Jr. Subordinated Debt Ratings
--------------------------------------------------------------
S&P Global Ratings said that it had revised its outlook on
Sweden-based power, heat, and distribution provider Vattenfall AB
to stable from negative.  At the same time, S&P affirmed the
'BBB+' long-term and 'A-2' short-term corporate credit ratings.

S&P has also affirmed its 'K-1' short-term Nordic regional scale
rating on Vattenfall.

At the same time, S&P affirmed its issue ratings on Vattenfall's
senior unsecured debt at 'BBB+', subordinated debt at 'BBB', and
junior subordinated debt at 'BB+'.

The outlook revision reflects several factors, which in S&P's
view have improved Vattenfall's business mix and reduced its
exposure to volatile merchant power activities.

These factors include:

   -- The sale of lignite assets completed in September 2016,
      reducing exposure to negative political intervention,
      merchant power prices, and carbon dioxide emissions, and
      transfer of a large amount of asset-retirement obligations.
      In Sweden, the Energy agreement confirmed the step-wise
      phasing out of the nuclear capacity tax over two years and
      the decrease in the property tax on hydro assets over a
      four-year period, which should improve the group's cost
      competitiveness and earnings.  S&P estimates this will
      likely increase EBITDA by about Swedish krona (SEK) 3
      billion (about EUR315 million) and SEK2 billion,
      respectively.  The Swedish payment into the nuclear waste
      fund was extended to 50 from 40 years and a proposal was
      put forward to broaden the investment mandate, which would
      reduce Vattenfall's nuclear liabilities and have a positive
      effect on the group's adjusted debt.

   -- In Germany, the parliament's approval in 2017 of the law
      stipulating a public fund solution for interim and final
      nuclear waste storage is reducing regulatory uncertainty
      and future expected increases in provisions.  As a result,
      Vattenfall will pay SEK17 billion in 2017 to the public
      fund.  But on the positive side, this involves a
      significant risk transfer, as the retained nuclear
      decommissioning provisions are more predictable.

   -- An increased commissioned capacity from the expansion in
      wind production under different supportive subsidy schemes,
      and greater contributions from stable district heating and
      electricity distribution, which S&P views as credit
      positive.

At year-end 2016, Vattenfall posted sales of about SEK140 billion
and EBITDA of about SEK37 billion on an adjusted basis.
Following the sale of the German lignite operations, Vattenfall's
business portfolio is split between liberalized power generation
and supply, mainly in Sweden, the Netherlands, and Germany (47%
of 2016 underlying EBITDA), electricity distribution networks in
Sweden and Germany (21%), heat business (20%), and largely
subsidized wind generation (12%).  At year-end 2016, Vattenfall's
adjusted debt decreased by about SEK12 billion to SEK123 billion,
notably supported by asset disposals and lower investments.
S&P's adjusted debt comprises about SEK60 billion of net
financial debt, pension deficit of SEK37 billion and asset-
retirement obligations (mainly nuclear liabilities) of SEK44
billion.

The considerable amount of stable cash flows stemming from
district heating and electricity distribution networks uphold
Vattenfall's strong business risk profile, accounting for 41% of
underlying adjusted EBITDA in 2016, a level S&P expects to stay
steady over the forecast horizon through 2019.  The total length
of the electricity distribution network was 168,000 kilometers in
2016.  S&P regards these operations as natural monopolies in a
supportive regulatory environment.  For the Swedish distribution
network, although the weighted average cost of capital level is
still being disputed for the new four-year regulatory period
started in 2016, S&P expects earnings growth related to recovery
of regulatory deficits from the previous regulatory period, as
well as from a growing asset base.  In addition, although
district heating has both volume and fuel cost volatility, S&P
expects these cash flows will continue to provide predictability
and stability.

On renewables, Vattenfall's operational capacity comprises of
about 2.7 gigawatts of wind farms, but the company has an
ambitious pipeline of offshore wind projects, including the
Kriegers Flak project (600 megawatts [MW]), the largest wind farm
in the Nordics, which was awarded in November 2016.  S&P expects
investments in renewables to represent the vast majority of
Vattenfall's growth investments over the next five years.
Although the overall power industry is experiencing heightened
merchant risk in the wind production segment, up to 80% of
Vattenfall's wind projects over the next 10 years (both decided
on and already in operation) are under robust and predictable
subsidy schemes with locked in revenues adding to the stability
in earnings.  S&P will, however, monitor how Vattenfall manages
the construction risk related to these large and complex
projects, as well as the terms and conditions for new wind
projects the company may take on, as we see intensified
competition for these projects.

On liberalized generation activities, S&P sees Vattenfall's hydro
assets as being highly competitive and well placed on the merit
order and S&P expects this competitive advantage will further
improve with the planned decrease in the property tax on hydro
assets.  The total Swedish running water hydro power capacity
(excluding German pump storage) was 8,824 MW in 2016.  The
Swedish nuclear assets have, on the other hand, experienced
decreasing profitability over the last few years because of
falling power prices and high production costs.  Even with the
gradual phasing out of the nuclear capacity tax, profitability
will continue to be under pressure due to challenging market
conditions.  S&P therefore expects Vattenfall to continue its
efforts to reduce its nuclear production costs.  In 2016,
installed nuclear power capacity totaled 7,254 MW.

S&P views the German parliament's approval of the law stipulating
a shift of the liability for interim and final storage of nuclear
waste through a payment into a public fund as supportive as it
increases clarity and reduces future expected provisions.  S&P
expects the EU to approve the law in the second quarter of this
year and the payment to be made no earlier than July 1.  Of the
total payment of about SEK17 billion, SEK4.7 billion relates to
the risk premium required for the externalization of the
liabilities.  The risk premium amount increased provisions in the
last quarter of 2016.  However, the payment will be neutral for
adjusted debt in 2017.

In S&P's base case, it assumes that Vattenfall's credit metrics
will support a significant financial risk profile, including
funds from operations (FFO) to debt of above 20%.  The ratio was
22.5% in 2016 and we expect it will marginally decrease in 2017.
This is because of lower EBITDA resulting from weak power prices
contracted last year to hedge production.  S&P expects that
significant capital expenditures on wind farms and network
operations should support earnings growth, and that EBITDA and
FFO will benefit from lower hydro and nuclear taxes.
Furthermore, Vattenfall's high hedge ratios at above-market
levels, together with the hosting of lignite hedging contracts,
will help mitigate continued low power prices and contribute
positively to EBITDA.

The ratings on Vattenfall benefit from one notch of uplift owing
to S&P's view of a moderate likelihood of timely and sufficient
extraordinary government support for Vattenfall in the case of
financial distress.  This reflects S&P's assessment of
Vattenfall's:

   -- Strong link with the Swedish government, which owns 100% of
      Vattenfall through the Ministry of Enterprise and
      Innovation, and the government's influence on the group's
      high-level strategic decision-making; and

   -- Limited role for the state, given the group's strong, but
      not dominant, market position in Sweden, significant
      exposure to non-Nordic markets, and its operations in a
      fully liberalized electricity market, which implies that it
      could conceivably be replaced by a private-sector entity.

The stable outlook reflects S&P's assumption that Vattenfall's
significant investments in resilient electricity distribution and
heating networks and growing wind farms will translate into solid
earnings growth and enable the group to maintain a financial risk
profile in line with S&P's expectations for the rating.  S&P also
takes into account the flexibility in dividend pay-outs, which
should mitigate potential operating underperformance.  Given the
group's significant share of stable cash flows from electricity
distribution and district heating, S&P believes that a ratio of
FFO to debt of above 20% is appropriate for the rating.

S&P could lower the rating if it believed that Vattenfall's
position in the power generation business was weakening together
with a deterioration in the market environment.  This could occur
if the profitability of Swedish nuclear operations remains
subdued, despite tax relief, or if the planned expansion in wind
is delayed or unsuccessful.  These factors could have negative
financial consequences for Vattenfall, and, unless
countermeasures are implemented, lead to weakening credit
measures, such as FFO to debt below 20%.  S&P could also
downgrade Vattenfall if it sees signs of weakening government
support, such as a privatization of a significant part of the
government's ownership in Vattenfall. However, S&P currently
considers this to be unlikely over the near to medium term.

S&P currently sees upside for the rating as remote, as it
believes that this would primarily be related to a significant
strengthening of the financial risk profile, with FFO to debt
increasing toward 25% on a sustainable basis, or an upward
assessment of the likelihood of government support, which S&P
also views as unlikely in the near term.



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


CO-OPERATIVE BANK: Suitors Tap Barclays to Draw Up Rescue Plan
--------------------------------------------------------------
Ben Martin at The Telegraph reports that the Qatari conglomerate
and Swiss investment firm considering a bid for struggling
Co-operative Bank have hired Barclays to help them put together a
potential rescue of the troubled lender.

It is understood that bankers from Barclays are advising Al
Faisal Holding and Interritus on their possible joint takeover of
Co-op Bank, which is facing a race against time to shore up its
financial position to avoid being wound down by the regulators,
The Telegraph discloses.

The lender put itself up for sale in February and it is
understood that Al Faisal and Interritus are the only suitors
that are still considering an offer, The Telegraph recounts.
Virgin Money and Clydesdale-owner CYBG have both pulled out of
the running to buy the loss-making lender, The Telegraph relays.
The pair are left-field suitors for Co-op Bank, The Telegraph
notes.

According to The Telegraph, industry sources believe that despite
the interest of Al Faisal and Interritus, a sale still remains
unlikely and it is more probable that stricken Co-op Bank will
agree a rescue deal with a group of hedge funds that own most of
its shares and bonds.

At the same time as looking for a buyer, the lender has proposed
raising GBP750 million from a debt-for-equity swap and an
injection of fresh equity from its existing investors, The
Telegraph states.

It is in talks with Blue Mountain Capital Management, Cyrus
Capital Partners, GoldenTree Asset Management and Silver Point
about the capital raise and it is understood they are drawing up
their own proposal to prop up the bank, The Telegraph relates.

                   About Co-operative Bank

The Co-operative Bank plc is a retail and commercial bank in the
United Kingdom, with its headquarters in Balloon Street,
Manchester.

In 2013-2014, the Bank was the subject of a rescue plan to
address a capital shortfall of about GBP1.9 billion.  The Bank
mostly raised equity to cover the shortfall from hedge funds.

In February 2017, the Bank's board announced that they were
commencing a sale process for the Bank and were "inviting
offers."

The Troubled Company Reporter-Europe reported on February 17,
2017 that Moody's Investors Service downgraded Co-operative Bank
plc's standalone baseline credit assessment (BCA) to ca from
caa2. The downgrade of the bank's BCA to ca reflects Moody's view
that the bank's standalone creditworthiness is increasingly
challenged and that the bank will not be able to restore its
declining capital position without external assistance.

TCR-Europe also reported on February 23, 2017 that Fitch Ratings
has downgraded The Co-operative Bank p.l.c.'s (Co-op Bank) Long-
Term Issuer Default Rating (IDR) to 'B-' from 'B' and placed it
on Rating Watch Evolving (RWE). The Viability Rating (VR) was
downgraded to 'cc' from 'b'. The downgrade of the VR reflects
Fitch's view that a failure of the bank appears probable as it
likely needs to obtain new equity capital to restore viability.
Fitch believes there is a very high risk that this will include a
restructuring of its subordinated debt that Fitch is likely to
consider a distressed debt exchange, which would result in a
failure according to Fitch definitions.


PARAGON OFFSHORE: Says Consensual Plan Confirmed in U.S.
--------------------------------------------------------
Paragon Offshore plc (OTC:PGNPQ) said on June 7, 2017, that the
United States Bankruptcy Court has approved the company's
consensual plan of reorganization under chapter 11 of the United
States Bankruptcy Code that the company announced on May 2, 2017.

Under the Consensual Plan, Paragon's existing equity will be
deemed worthless and the company's secured creditors and
unsecured bondholders will receive equity in a new reorganized
parent company.  In confirming the plan, the Bankruptcy Court
overruled all objections raised at confirmation, including those
raised by an unofficial committee of equity holders.

Paragon is planning for its emergence from chapter 11 in early
July; however, this timing is subject to the completion of
certain conditions precedent to emergence including, among other
things, Paragon's legal entity restructuring.

Following the ruling, Mr. Dean E. Taylor, President and Chief
Executive Officer of Paragon, said, "We are extremely gratified
to have received this ruling.  Thanks are due to our employees,
our board of directors, our creditors, and the professionals
retained by Paragon and its creditors.  Without their hard work
and dedication, we could not have achieved this result, which
allows us to emerge from the shadow of bankruptcy and return to
our core business of delivering Safe, Reliable, and Efficient
services to our customers."

                  About Paragon Offshore

Houston, Texas-based Paragon Offshore plc (OTC: PGNPQ) --
http://www.paragonoffshore.com/-- is a global provider of
offshore drilling rigs.  Paragon is a public limited company
registered in England and Wales.

Paragon Offshore Plc, et al., filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-10410) on
Feb. 14, 2016, after reaching a deal with lenders on a
reorganization plan that would eliminate $1.1 billion in debt.
The petitions were signed by Randall D. Stilley as authorized
representative.

Judge Christopher S. Sontchi is assigned to the cases.

The Debtors reported total assets of $2.47 billion and total debt
of $2.96 billion as of Sept. 30, 2015.

The Debtors engaged Weil, Gotshal & Manges LLP as general
counsel; Richards, Layton & Finger, P.A. as local counsel; Lazard
Freres & Co. LLC as financial advisor; Alixpartners, LLP, as
restructuring advisor; PricewaterhouseCoopers LLP as auditor and
tax advisor; and Kurtzman Carson Consultants as claims and
noticing agent.

No request has been made for the appointment of a trustee or an
examiner in the cases.

On Jan. 27, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors. Paul, Weiss, Rifkind,
Wharton & Garrison LLP serves as main counsel to the Committee
and Young Conaway Stargatt & Taylor, LLP acts as co-counsel.  The
committee retained Ducera Partners LLC as financial advisor.

Counsel to JPMorgan Chase Bank, N.A. (a) as administrative agent
under the Senior Secured Revolving Credit Agreement, dated as of
June 17, 2014, and (b) as collateral agent under the Guaranty and
Collateral Agreement, dated as of July 18, 2014, are Sandeep
Qusba, Esq., and Kathrine A. McLendon, Esq., at Simpson Thacher &
Bartlett LLP. PJT Partners serves as its financial advisor.

Delaware counsel to JPMorgan Chase Bank, N.A. are Landis Rath &
Cobb LLP's Adam G. Landis, Esq.; Kerri K. Mumford, Esq.; and
Kimberly A. Brown, Esq.

Counsel to Cortland Capital Market Services L.L.C. as
administrative agent under the Senior Secured Term Loan
Agreement, dated as of July 18, 2014, are Arnold & Porter Kaye
Scholer LLP's Scott D. Talmadge, Esq.; Benjamin Mintz, Esq.; and
Madlyn G. Primoff, Esq.

Delaware counsel to Cortland Capital Market Services L.L.C. are
Potter Anderson & Corroon LLP's Jeremy W. Ryan, Esq.; Ryan M.
Murphy, Esq.; and D. Ryan Slaugh, Esq.

Counsel to Deutsche Bank Trust Company Americas as trustee under
the Senior Notes Indenture, dated as of July 18, 2014, for the
6.75% Senior Notes due 2022 and the 7.25% Senior Notes due 2024,
are Morgan, Lewis, & Bockius LLP's James O. Moore, Esq.; Glenn E.
Siegel, Esq.; and Joshua Dorchak, Esq.

Freshfields Bruckhaus Deringer LLP serves as legal counsel to the
Term Loan Agent and FTI Consulting, Inc. serves as its financial
advisor.

                          *     *     *

Under the Consensual Plan of Reorganization announced May 2,
2017, approximately $2.4 billion of previously existing debt will
be eliminated in exchange for a combination of cash and to-be-
issued new equity.  If confirmed, the Secured Lenders will
receive their pro rata share of $410 million in cash and 50% of
the new, to-be-issued common equity, subject to dilution.  The
Bondholders will receive $105 million in cash and an estimated
50% of the new, to-be-issued common equity, subject to dilution.
The Secured Lenders and Bondholders will each appoint three
members of a new board of directors to be constituted upon
emergence of the Company from bankruptcy and will agree on a
candidate for Chief Executive Officer who will serve as the
seventh member of the board of directors of the Company.

As a necessary component of the Consensual Plan, Paragon Offshore
filed before the High Court of Justice, Chancery Division,
Companies Court of England and Wales an application for
administration in the United Kingdom and sought an order
appointing two partners of Deloitte LLP as administrators of the
company.  The application was granted on May 23, 2017.

Neville Barry Kahn and David Philip Soden were appointed Joint
Administrators of Paragon Offshore Plc on May 23, 2017.  The
affairs, business and property of the Company are managed by the
Joint Administrators. The Joint Administrators act as agents of
the Company and contract without personal liability.


TOM WOODS: Enters Administration After CVA Payment Default
----------------------------------------------------------
Steve Fisher at Linconlshire Today reports that Tom Woods, one of
Lincolnshire's independent breweries, has entered administration
after failing to keep up with payments to creditors under a
Company Voluntary Arrangement.

Tom Wood Beers' accounts are overdue for filing and the company
has been operating under a Company Voluntary Arrangement since
December 2014 whereby it was scheduled to make four consecutive
monthly payments to creditors of more than GBP2,000, followed by
35 payments of GBP4,000 or more, Linconlshire Today relays,
citing Companies House.

In February this year, it emerged that the company was GBP7,000
in arrears with these payments, but had paid back some GBP76,000
owed to creditors, Linconlshire Today recounts.

Tom Woods Beers, which brews around 170,000 pints a week from its
base in Melton Ross near Barnetby, has called in CRG Insolvency &
Financial Recovery to look after the day-to-day running of the
firm, Linconlshire Today discloses.


VULPINE PERFORMANCE: Mango Bikes Buy Brand and Assets
-----------------------------------------------------
Oliver Bridgewood and Paul Norman at Cycling Weekly report that
Mango Bikes has bought British cycle clothing brand Vulpine three
weeks after it went into administration.

At the start of May, Vulpine Performance Ltd announced that it
was going into administration, Cycling Weekly relates.  According
to the report, the administrator RSM has now chosen Mango Bikes
as the winning bid to take over Vulpine's brand and its assets.
Contracts for the rescue by Mango Bikes were exchanged on May 26.

Vulpine founder Nick Hussey attributed the insolvency to the late
arrival of the Spring/Summer 2017 range and a lack of campaign
momentum, Cycling Weekly relates.

"We were gutted to hear that Vulpine were having problems. We
knew that it would be such a terrible waste to the British
cycling industry if they disappeared. We are all admirers of what
they have created and their ethos as it chimed so closely to what
we do," the report quotes Barry Dunn, Mango Bikes CEO and now
head of Vulpine, as saying.  "Then we started thinking, what if
we stepped in and saved them? It made perfect sense to go for it!
I am proud to say that it's a great feeling being able to help
and to become part of the story of such a brilliant company. We
want Vulpine to continue doing what it does so well."

Cycling Weekly recalls that Vulpine had previously sold 16.76%
worth of equity in the business to cycling fans and investors for
over a million pounds in November 2015 and in April 2017 was
attempting to raise another GBP750,000 via crowdfunding
investment website Crowdcube.

As part of the rescue, Mango said that it will honour all orders,
refunds and exchanges. It's already taken on extra staff to help
clear the three week backlog that has developed, the report says.

Cycling Weekly relates that Mango Bikes was chosen for their
return to Vulpine stakeholders and says that key members of
Vulpine's design team will continue to work for the brand.

Formed in 2012, Vulpine has developed a substantial following and
forged a collaboration with Olympian Chris Hoy, producing the
signature 'Hoy Vulpine' label as well as a wide range of urban
cycling clothes.  Vulpine's range includes urban cycle clothing
as well as the performance Hoy-Vulpine range.



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


* BOND PRICING: For the Week June 5 to June 9, 2017
---------------------------------------------------

Issuer                      Coupon     Maturity  Currency Price
------                      ------     --------  -------- -----
Agrokor dd                    9.88     5/1/2019    EUR    34.31
Banco Popular Espanol SA      8.25                 EUR    61.18
Eldorado Intl. Finance Gmb    8.63    6/16/2021    USD    78.12
Rickmers Holding AG           8.88    6/11/2018    EUR     6.50
CGG SA                        5.88    5/15/2020    EUR    41.00
CSN Resources SA              6.50    7/21/2020    USD    73.57
Agrokor dd                    9.13     2/1/2020    EUR    33.32
Intelsat Luxembourg SA        7.75     6/1/2021    USD    59.00
Aegon NV                      0.53                 EUR    70.49
Alitalia-Societa' Aerea It    5.25    7/30/2020    EUR    19.00
Frigoglass Finance BV         8.25    5/15/2018    EUR    57.00
Agrokor dd                    8.88     2/1/2020    USD    35.25
Banca Popolare di Vicenza     2.75    3/20/2020    EUR    75.47
Holdikks SAS                  6.75    7/15/2021    EUR    59.33
International Bank of Azer    6.17    5/10/2017    USD    99.78
TES Finance PLC               6.75    7/15/2020    GBP    65.83
VistaJet Malta Finance PLC    7.75     6/1/2020    USD    74.53
Offshore Drilling Holding     8.38    9/20/2020    USD    37.67
Casino Guichard Perrachon     1.68                 EUR    69.19
CGG SA                        1.75     1/1/2020    EUR     1.53
Veneto Banca SpA              0.72    6/21/2017    EUR    43.75
Intelsat Luxembourg SA        8.13     6/1/2023    USD    56.28
Mitsubishi UFJ Investor Se    4.17   12/15/2050    EUR    55.72
QGOG Constellation SA         6.25    11/9/2019    USD    71.77
Ensco PLC                     5.75    10/1/2044    USD    71.76
Portugal Telecom Internati    4.63     5/8/2020    EUR    28.98
CGG SA                        6.50     6/1/2021    USD    42.28
Oi Brasil Holdings Coopera    5.75    2/10/2022    USD    30.50
Air Berlin PLC                5.63     5/9/2019    CHF    72.50
Banco Espirito Santo SA       2.63     5/8/2017    EUR    28.52
Co-Operative Bank PLC        11.00   12/20/2023    GBP    34.75
Ageasfinlux SA                1.02                 EUR    57.15
Avangardco Investments Pub   10.00   10/29/2018    USD    22.75
Air France-KLM                2.03    2/15/2023    EUR    12.29
Neopost SA                    3.38                 EUR    60.23
Credit Mutuel Arkea SA        0.79                 EUR    75.00
Portugal Telecom Internati    5.00    11/4/2019    EUR    30.54
CGG SA                        6.88    1/15/2022    USD    42.18
Portugal Telecom Internati    5.88    4/17/2018    EUR    30.50
Far East Capital Ltd SA       8.00     5/2/2018    USD    69.67
Immigon Portfolioabbau AG    10.00                 EUR    15.15
UkrLandFarming PLC           10.88    3/26/2018    USD    20.00
Portugal Telecom Internati    4.38    3/24/2017    EUR    29.90
Norske Skog Holding AS        8.00    2/24/2021    EUR    27.63
Banca Carige SpA              7.32   12/20/2020    EUR    68.11
Banca Carige SpA              8.34                 EUR    25.00
Banca Popolare di Vicenza     9.50    9/29/2025    EUR    13.50
Portugal Telecom Internati    4.50    6/16/2025    EUR    30.13
Santander International Pr    2.00                 USD    65.90
New Look Senior Issuer PLC    8.00     7/1/2023    GBP    74.70
OAS Investments GmbH          8.25   10/19/2019    USD     3.00
Privatbank CJSC Via UK SPV   10.25    1/23/2018    USD    24.04
Alno AG                       8.50    5/14/2018    EUR    55.75
Banca Popolare di Vicenza     2.82   12/20/2017    EUR    12.33
Aegon NV                      1.51                 NLG    73.40
Veneto Banca SpA              9.50    12/1/2025    EUR    14.13
BNP Paribas SA                1.15                 EUR    69.21
Bourbon Corp                  4.70                 EUR
Mitsubishi UFJ Investor Se    3.92   12/30/2099    EUR     3.98
Oi Brasil Holdings Coopera    5.63    6/22/2021    EUR    30.49
Sanha GmbH & Co KG            7.75     6/4/2018    EUR    74.63
ADLER Real Estate AG          2.50    7/19/2021    EUR    15.72
HSH Nordbank AG/Luxembourg    2.10                 EUR    19.32
SOITEC                        6.75    9/18/2018    EUR     3.23
Pierre & Vacances SA          3.50    10/1/2019    EUR    47.42
Co-Operative Bank PLC         8.50     7/1/2025    GBP    30.63
CGG SA                        1.25     1/1/2019    EUR    24.08
HSH Nordbank AG               7.25                 USD    26.98
WPE International Cooperat   10.38    9/30/2020    USD    17.00
Paragon Offshore PLC          6.75    7/15/2022    USD    22.38
Agrokor dd Via Aquarius +     4.92     8/8/2017    EUR    29.13
IMMOFINANZ AG                 4.25     3/8/2018    EUR     4.39
Jyske Bank A/S                0.84                 EUR    74.33
Jyske Bank A/S                1.05                 EUR    74.50
Privatbank CJSC Via UK SPV   11.00     2/9/2021    USD     5.01
Portugal Telecom Internati    6.25    7/26/2016    EUR    30.08
Banca Monte dei Paschi di     0.67   11/30/2017    EUR    38.75
Rothschilds Continuation F    1.69                 USD    67.59
Banco Espirito Santo SA       4.00    1/21/2019    EUR    28.06
Bilt Paper BV                 9.64                 USD    29.52
Banca Monte dei Paschi di     5.00    4/21/2020    EUR    37.52
Novo Banco SA                 3.50     1/2/2043    EUR    62.25
Elli Investments Ltd         12.25    6/15/2020    GBP    68.00
Pacific Drilling SA           5.38     6/1/2020    USD    46.00
Eramet                        4.00                 EUR    48.45
Scholz Holding Gmbh           8.50   12/31/2019    EUR     2.08
Banca Monte dei Paschi di     2.25    5/15/2018    EUR    35.67
Far East Capital Ltd SA       8.75     5/2/2020    USD    69.67
Nexity SA                     0.13     1/1/2023    EUR    68.97
Banca Monte dei Paschi di     5.60     9/9/2020    EUR    37.44
Fuerstenberg Capital Erste    1.45                 EUR    73.00
Johnston Press Bond Plc       8.63     6/1/2019    GBP    61.00
Sydbank A/S                   1.01                 EUR    73.67
VistaJet Malta Finance PLC    7.75     6/1/2020    USD    75.88
TES Finance PLC               5.34    7/15/2020    GBP    68.17
Waste Italia SpA             10.50   11/15/2019    EUR    16.13
Lambay Capital Securities     6.25                 GBP     1.36
Banco Espirito Santo SA       4.75    1/15/2018    EUR    27.88
NIBC Bank NV                  0.91                 EUR    70.06
ATF Capital BV                8.77                 USD    73.00
Sapinda Invest SARL           5.00    6/30/2019    EUR    50.00
Banco Espirito Santo SA       7.13   11/28/2023    EUR     0.71
Decipher Production Ltd      12.50    9/27/2018    USD     1.16
Alno AG                       8.00    3/21/2019    EUR    42.00
Privatbank CJSC Via UK SPV   10.88    2/28/2018    USD    20.33
BIM SAS                       2.50   11/13/2020    EUR    28.23
Mriya Agro Holding PLC        9.45    4/19/2018    USD     4.00
Aligera Holding AB publ       5.00     5/7/2019    SEK    66.03
KTG Agrar SE                  7.13     6/6/2017    EUR     2.36
Banca Carige SpA              2.77    6/19/2018    EUR    64.33
Yuksel Insaat AS              9.50   11/10/2015    USD    20.63
Allied Irish Banks PLC       12.50    6/25/2035    GBP    70.00
OGX Austria GmbH              8.50     6/1/2018    USD     0.03
Manchester Building Societ    6.75                 GBP    17.50
Bibby Offshore Services PL    7.50    6/15/2021    GBP    55.50
Popular Capital SA            0.93                 EUR    50.00
Norske Skogindustrier ASA     7.13   10/15/2033    USD    23.86
Norske Skogindustrier ASA     2.00   12/30/2115    EUR     8.25
Ichor Coal NV                 8.00     6/7/2017    EUR    42.50
Eldorado Intl. Finance Gmb    8.63    6/16/2021    USD    78.28
Phones4u Finance PLC          9.50     4/1/2018    GBP    72.88
OSX 3 Leasing BV             13.00    3/20/2015    USD    35.00
Paragon Offshore PLC          7.25    8/15/2024    USD    22.50
Scandinavian Airlines Syst    0.63                 CHF    24.38
Virgolino de Oliveira Fina   10.50    1/28/2018    USD     7.04
Belfius Bank SA/NV            5.35                 EUR    65.36
Pastor Participaciones Pre    1.84                 EUR    75.49
Novo Banco SA                 3.00    6/21/2022    USD    72.39
Hybrid Raising GmbH           6.63                 EUR    24.25
3W Power SA                   8.00    8/29/2019    EUR    40.63
Intesa Sanpaolo SpA           5.63    3/18/2024    GBP    68.60
Dexia Credit Local SA         1.40                 EUR     6.28
Espirito Santo Financial G    6.88   10/21/2019    EUR     0.08
Lloyds Bank PLC               0.43    2/22/2033    USD    56.50
Credit Lyonnais SACA          0.44                 EUR    68.00
Oceanteam ASA                12.40   10/24/2017    USD    45.00
New World Resources NV        8.00     4/7/2020    EUR     4.86
Agrokor dd                    8.88     2/1/2020    USD    34.64
Klarna AB                     5.25                 SEK    70.72
Alpine Holding GmbH           6.00    5/22/2017    EUR     0.40
Dexia SA                      1.45                 EUR     5.25
Dexia Kommunalbank Deutsch    4.88     6/1/2017    EUR    46.10
Havila Shipping ASA           5.43    11/7/2020    NOK    70.00
OP Corporate Bank plc         0.84                 EUR    71.97
IKB Deutsche Industriebank    5.63     8/1/2017    EUR    33.13
EFG International AG          0.97                 EUR    68.00
Novo Banco SA                 3.50    2/19/2043    EUR    62.25
Deutsche Bank AG/London       1.90   12/23/2035    USD    62.13
Tonon Luxembourg SA          10.50    5/14/2024    USD    42.70
Lehman Brothers UK Capital    5.13                 EUR     0.26
Banca delle Marche SpA        0.62     6/1/2017    EUR     0.99
Capital Raising GmbH          7.50                 EUR    23.74
ESFIL-Espirito Santo Finan    5.25    6/12/2015    EUR     0.29
Afren PLC                    11.50     2/1/2016    USD     0.15
Beate Uhse AG                 7.75     7/9/2019    EUR    27.63
Petrol AD                     5.50    1/26/2022    EUR    25.63
Eirles Two DAC                1.69    9/30/2046    USD    11.88
Vseukrainsky Aktsinerny Ba   10.90    6/14/2019    USD     1.24
Banca Popolare di Vicenza     4.60   12/15/2017    EUR    42.41
Smart Solutions GmbH          8.00    12/3/2018    EUR    47.88
Fred Olsen Energy ASA         3.89    2/28/2019    NOK    54.50
Lloyds Bank PLC               2.45   11/27/2033    USD    68.00
Pescanova SA                  5.13    4/20/2017    EUR     3.39
Innogy SE                     3.80     4/5/2033    USD    73.94
Barclays Bank PLC             0.66    3/21/2033    USD    56.15
More & More AG                8.13    6/11/2018    EUR    33.13
Sequa Petroleum NV            5.00    4/29/2020    USD    69.13
Ideal Standard Internation   11.75     5/1/2018    EUR     4.78
City of Kiev Ukraine Via C    8.00    11/6/2015    USD    64.88
Cooperatieve Rabobank UA      0.50   11/26/2021    ZAR    68.87
NTRP Via Interpipe Ltd       10.25     8/2/2017    USD    25.25
GEWA 5 to 1 GmbH & Co KG      6.50    3/24/2018    EUR    31.38
Intelsat Luxembourg SA       12.50   11/15/2024    USD    68.47
Novo Banco SA                 3.50    1/23/2043    EUR    62.33
Novo Banco SA                 3.50    3/18/2043    EUR    62.25
Royal Bank of Scotland PLC    1.94   12/30/2030    USD    70.88
Orco Property Group SA        7.00    11/7/2019    EUR    65.00
Touax SA                      6.00    7/10/2020    EUR    16.46
Agrokor dd                    9.88     5/1/2019    EUR    34.75
Greene King Finance PLC       2.42    3/15/2036    GBP    74.33
Aralco Finance SA            10.13     5/7/2020    USD     1.77
Wild Bunch AG                 8.00    3/23/2019    EUR    50.00
Frey                          6.00   11/15/2022    EUR    22.55
Norske Skogindustrier ASA     7.13   10/15/2033    USD    24.86
CSN Resources SA              6.50    7/21/2020    USD    74.44
Tonon Luxembourg SA           9.25    1/24/2020    USD    10.75
CGG SA                        5.88    5/15/2020    EUR    41.50
Norske Skog Holding AS        8.00    2/24/2023    USD    26.00
Espirito Santo Financial G    3.13    12/2/2018    EUR     0.31
Deutsche Bank AG/London       3.19   10/31/2034    USD    70.25
New World Resources NV        4.00    10/7/2020    EUR     0.24
Orient Express Bank PJSC v   12.00    5/29/2019    USD    53.38
CBo Territoria                6.00     1/1/2020    EUR     4.07
Belfius Bank SA/NV            1.62                 FRF    70.13
Santander Finance Capital     2.00                 EUR    56.27
Action SA                     3.21     7/4/2017    PLN    71.48
GNB - Cia de Seguros de Vi    3.17                 EUR    49.00
Societe Generale SA           0.81                 EUR    69.12
Phosphorus Holdco PLC        10.00     4/1/2019    GBP     2.10
Bank Nadra via NDR Finance    8.25    7/31/2018    USD     0.32
Praktiker AG                  5.88    2/10/2016    EUR     0.25
APP International Finance    11.75    10/1/2005    USD     0.56
Banca Carige SpA              1.67   12/29/2018    EUR    49.88
Banco Espirito Santo SA       2.32                 EUR     0.27
Stichting Afwikkeling Onde    6.25   10/26/2020    EUR     4.01
German Pellets GmbH           7.25   11/27/2019    EUR     0.83
Banca Monte dei Paschi di     7.00     3/4/2019    EUR    37.77
Lehman Brothers UK Capital    6.90                 USD     0.77
Lloyds Bank PLC               0.41    1/31/2033    USD    58.00
Belfius Bank SA/NV            4.61                 EUR    60.13
Lehman Brothers Treasury C    6.00    2/15/2035    EUR     9.13
Banco Pastor SAU              2.07                 EUR    54.62
Banca Monte dei Paschi di     0.67    1/15/2018    EUR    39.33
Pescanova SA                  8.75    2/17/2019    EUR     3.11
Koninklijke Luchtvaart Maa    0.75                 CHF    36.50
Offshore Drilling Holding     8.38    9/20/2020    USD    43.25
Havila Shipping ASA           4.82    11/7/2020    NOK    42.63
Lloyds Bank PLC               2.78   12/27/2028    USD    76.00
QGOG Constellation SA         6.25    11/9/2019    USD    71.52
CGG SA                        6.50     6/1/2021    USD    48.31
LBI HF                        6.10    8/25/2011    USD     8.75
Banca Popolare di Vicenza     8.50   12/28/2018    EUR    31.15
Cirio Holding Luxembourg S    6.25    2/16/2004    EUR     0.91
Corporate Commercial Bank     8.25     8/8/2014    USD     0.99
Barclays Bank PLC             2.12    3/28/2034    USD    70.05
Agrokor dd                    9.13     2/1/2020    EUR    34.18
Rudolf Woehrl AG              6.50    2/12/2018    EUR    16.00
Lloyds Bank PLC               0.24    4/26/2033    USD    56.00
Deutsche Bank AG/London       1.44    3/27/2035    USD    66.88
CNP Assurances                2.00                 EUR    73.50
Cooperatieve Rabobank UA      0.50   11/30/2027    MXN    43.21
Kaupthing ehf                 7.63    2/28/2015    USD    17.63
Virgolino de Oliveira Fina   11.75     2/9/2022    USD     7.04
Hellenic Republic Governme    2.09    7/25/2057    EUR    40.13
Electromagnetic Geoservice    6.96    6/27/2019    NOK    70.00
Tikehau Capital SCA           1.63     1/1/2022    EUR    61.70
Dexia Kommunalbank Deutsch    5.63   12/31/2017    EUR    13.13
Volstad Shipping AS           6.89    4/15/2019    NOK    25.00
Barclays Bank PLC             2.85    1/27/2031    USD    66.13
PNE Wind AG                   3.75   10/10/2019    EUR     3.32
Teksid Aluminum Luxembourg   11.38    7/15/2011    EUR     0.39
Barclays Bank PLC             2.76    7/31/2034    USD    73.00
Mox Telecom AG                7.25    11/2/2017    EUR     3.30
Paragon Offshore PLC          7.25    8/15/2024    USD    20.75
Eniro AB                      6.00    4/14/2020    SEK    13.69
3W Power SA                   5.50   11/11/2020    EUR    40.00
Mriya Agro Holding PLC       10.95    3/30/2016    USD     5.75
Sazka AS                      9.00    7/12/2021    EUR     0.29
KTG Energie AG                7.25    9/28/2018    EUR     2.36
Vneshprombank Ltd via VPB     9.00   11/14/2016    USD     0.53
Barclays Bank PLC             1.81    7/28/2034    USD    66.35
German Pellets GmbH           7.25     7/9/2018    EUR     1.34
Oi Brasil Holdings Coopera    5.75    2/10/2022    USD    32.38
Cirio Finance Luxembourg S    7.50    11/3/2002    EUR     4.62
Air Berlin Finance BV         1.50    4/11/2027    EUR    50.00
Manchester Building Societ    8.00                 GBP    25.25
Cooperatieve Rabobank UA      0.50   10/29/2027    MXN    42.91
OGX Austria GmbH              8.38     4/1/2022    USD     0.00
Royal Bank of Scotland PLC    1.85   11/16/2030    USD    67.50
GNB - Cia de Seguros de Vi    1.87   12/19/2022    EUR    60.00
Cirio Finanziaria SpA         8.00   12/21/2005    EUR     0.40
CRC Breeze Finance SA         6.11     5/8/2026    EUR    55.63
Espirito Santo Financial G    9.75   12/19/2025    EUR     1.41
KTG Agrar SE                  7.25   10/15/2019    EUR     2.40
Etablissements Maurel et P    1.63     7/1/2019    EUR    16.21
Banca Monte dei Paschi di     2.79   10/31/2018    EUR    39.00
Bank Nederlandse Gemeenten    0.50     6/7/2022    ZAR    65.12
Windreich GmbH                6.50    7/15/2016    EUR    10.50
IKB Deutsche Industriebank    4.70     8/1/2017    EUR    32.00
Barclays Bank PLC             2.72    7/28/2031    USD    59.04
Barclays Bank PLC             2.59    2/28/2034    USD    70.10
Banco Espirito Santo SA       6.88    7/15/2016    EUR    27.88
Golden Gate AG                6.50   10/11/2014    EUR    45.40
Abanka Vipa DD Via Afinanc    1.57                 EUR     1.50
CGG SA                        6.88    1/15/2022    USD    42.13
Far Eastern Shipping Co PL   13.00   11/28/2017    RUB    50.02
Sairgroup Finance BV          4.38     6/8/2006    EUR    11.38
Laurel GmbH                   7.13   11/16/2017    EUR     8.00
Barclays Bank PLC             1.23    6/17/2033    USD    61.00
Mobylife Holding A/S          7.25    5/23/2020    SEK    53.00
Tatfondbank OAO via TFB Fi    8.50   11/12/2019    USD     0.17
Lloyds Bank PLC               2.52    7/26/2033    USD    67.13
Waste Italia SpA             10.50   11/15/2019    EUR    16.13
Finmek International SA       7.00    12/3/2004    EUR     6.50
Stichting Afwikkeling Onde   11.25                 EUR     1.05
Portugal Telecom Internati    5.24    11/6/2017    EUR    30.25
Breeze Finance SA             6.71    4/19/2027    EUR    29.05
Rena GmbH                     8.25    7/11/2018    EUR     9.38
JZ Capital Partners Ltd       6.00    7/30/2021    GBP    11.30
Afren PLC                     6.63    12/9/2020    USD     0.00
Barclays Bank PLC             0.40    5/31/2033    USD    53.00
Alpine Holding GmbH           5.25    6/10/2016    EUR     0.31
PA Resources AB              13.50     3/3/2016    SEK     0.23
Etablissements Maurel et P    2.75     7/1/2021    EUR    10.70
Geotech Seismic Services P   12.75   10/16/2019    RUB    70.01
International Industrial B   11.00    2/19/2013    USD     0.34
World Wide Supply AS          7.75    5/26/2017    USD    16.13
Paragon Offshore PLC          6.75    7/15/2022    USD    21.25
Deutsche Bank AG/London       0.36    3/15/2033    USD    59.25
Tonon Luxembourg SA          10.50    5/14/2024    USD    42.63
Barclays Bank PLC             2.62   12/30/2030    USD    67.01
Steilmann SE                  7.00    9/23/2018    EUR     2.74
Norske Skog Holding AS        8.00    2/24/2021    EUR    27.63
Pacific Drilling SA           5.38     6/1/2020    USD    47.50
German Pellets GmbH           7.25     4/1/2016    EUR     1.03
Norske Skog Holding AS        8.00    2/24/2023    USD    21.75
RENE LEZARD Mode GmbH         7.25   11/25/2017    EUR    10.50
Lehman Brothers Treasury C    5.10     5/8/2017    HKD     9.63
Windreich GmbH                6.50     3/1/2015    EUR    10.50
Hamburgische Landesbank-Gi    0.05   10/30/2040    EUR    64.42
Landes-Hypothekenbank Stei    0.06     3/7/2043    EUR    72.28
Veneto Banca SpA              6.94    5/15/2025    EUR    12.88
Barclays Bank PLC             3.22    3/27/2029    USD    68.00
UniCredit Bank Austria AG     0.15   12/27/2031    EUR    74.38
getgoods.de AG                7.75    10/2/2017    EUR     0.05
OGX Austria GmbH              8.50     6/1/2018    USD     0.03
Orient Express Bank PJSC V    8.17    6/27/2017    USD    50.00
HSBC France SA                1.03                 EUR    70.00
TES Finance PLC               6.75    7/15/2020    GBP    65.96
Lloyds Bank PLC               2.39     7/5/2033    USD    68.25
Hellas Telecommunications     8.50   10/15/2013    EUR     0.37
Banco Comercial Portugues     5.00                 EUR    60.00
Barclays Bank PLC             2.62   12/30/2030    USD    66.25
Santander Finance Capital     2.00                 EUR    56.19
Sidetur Finance BV           10.00    4/20/2016    USD     3.54
Assystem                      4.50                 EUR    38.03
Deutsche Bank AG/London       1.85    8/28/2034    USD    61.88
TradeDoubler AB               6.75   12/20/2018    SEK    58.67
Farstad Shipping ASA          5.09    7/30/2017    NOK    27.25
Deutsche Bank AG/London       2.46    6/30/2034    USD    51.50
Grupo Isolux Corsan SA        0.25   12/30/2018    EUR     4.29
OGX Austria GmbH              8.38     4/1/2022    USD     0.01
BNP Paribas SA                0.38    4/30/2033    USD    57.25
Rena GmbH                     7.00   12/15/2015    EUR     9.38
EDOB Abwicklungs AG           7.50     4/1/2012    EUR     0.60
Banco Pinto & Sotto Mayor     0.68                 EUR    34.00
Finance and Credit Bank JS    9.25    1/25/2019    USD     0.58
Holdikks SAS                  6.75    7/15/2021    EUR    59.65
Bank Nederlandse Gemeenten    0.50    7/12/2022    ZAR    64.71
Banca Carige SpA              5.70    9/17/2020    EUR    62.02
Pescanova SA                  6.75     3/5/2015    EUR     3.61
Barclays Bank PLC             1.70   11/29/2030    USD    65.25
Enterprise Holdings LTD       7.00    9/26/2017    EUR     2.69
Barclays Bank PLC             3.84    1/31/2029    USD    67.15
Lehman Brothers Treasury C    7.00    5/17/2035    EUR     9.13
KPNQwest NV                  10.00    3/15/2012    EUR     0.48
Virgolino de Oliveira Fina   10.88    1/13/2020    USD    28.50
PA Resources AB               3.00   12/27/2017    NOK     0.11
BOA Offshore AS               7.69   12/18/2018    NOK    25.00
Societe Generale SA           0.12    5/31/2033    USD    65.00
Steilmann SE                  7.00     3/9/2017    EUR     2.74
Del Monte Finance Luxembou    6.63    5/24/2006    EUR     5.44
Talvivaara Mining Co PLC      4.00   12/16/2015    EUR     0.27
Enterprise Holdings LTD       7.00    3/30/2020    EUR     2.69
SAG Solarstrom AG             6.25   12/14/2015    EUR    33.63
SiC Processing GmbH           7.13     3/1/2016    EUR     3.23
Royal Bank of Scotland PLC    1.84    8/26/2031    USD    66.13
KPNQwest NV                   8.88     2/1/2008    EUR     0.65
Lehman Brothers Treasury C    6.00    11/2/2035    EUR     9.13
Veneto Banca SpA              6.95    2/25/2025    EUR    11.63
IT Holding Finance SA         9.88   11/15/2012    EUR     1.63
Cooperatieve Rabobank UA      0.50    7/30/2043    MXN    12.26
Governo Portugues Consolid    3.00                 EUR    75.00
IVG Immobilien AG             5.50                 EUR     0.65
Barclays Bank PLC             1.94    9/30/2031    USD    69.10
Barclays Bank PLC             2.42    2/25/2031    USD    65.01
Banca Carige SpA              5.70    6/30/2017    EUR    72.94
Espirito Santo Financial P    5.13    5/30/2016    EUR     0.93
Steilmann SE                  6.75    6/27/2017    EUR     4.94
Banca Nuova SpA               6.06    5/23/2028    EUR    65.68
Banco Espirito Santo SA       6.90    6/28/2024    EUR    25.50
Deutsche Bank AG/London       0.18    1/31/2033    USD    55.35
Lehman Brothers Treasury C    4.00    2/16/2017    EUR     9.13
New World Resources NV        4.00    10/7/2020    EUR     0.24
Gebr Sanders GmbH & Co KG     8.75   10/22/2018    EUR    29.63
SeaBird Exploration Financ    6.00     3/3/2018    USD    16.00
Banca Popolare di Vicenza     5.00    6/30/2021    EUR    64.47
Landesbank Hessen-Thuering    0.08     5/3/2041    EUR    71.46
Kommunalbanken AS             0.50    5/27/2022    ZAR    66.50
Barclays Bank PLC             0.06   12/28/2040    EUR    74.57
Lloyds Bank PLC               1.84    7/29/2033    USD    66.80
Privatbank CJSC Via UK SPV   10.88    2/28/2018    USD    21.00
Depfa Funding II LP           6.50                 EUR    57.25
Mobile TeleSystems PJSC       8.85    3/25/2021    RUB   101.25
Barclays Bank PLC             4.13   10/10/2029    USD    74.57
Farstad Shipping ASA          4.29    5/29/2018    NOK    26.00
Frigoglass Finance BV         8.25    5/15/2018    EUR    56.88
Stichting Afwikkeling Onde    2.42                 EUR     1.05
Afren PLC                    10.25     4/8/2019    USD     0.01
Portigon AG                   7.46   12/31/2019    EUR    25.50
Region of Abruzzo Italy       0.13    11/7/2036    EUR    61.20
Russian Post FGUP             8.55    5/11/2027    RUB    99.00
ADLER Real Estate AG          6.00    6/30/2017    EUR    14.50
New World Resources NV        8.00     4/7/2020    EUR     4.86
Tonon Luxembourg SA           9.25    1/24/2020    USD    10.75
TES Finance PLC               5.34    7/15/2020    GBP    67.51
MS Deutschland Beteiligung    6.88   12/18/2017    EUR     5.88
A-TEC Industries AG           2.75    5/10/2014    EUR     2.00
Montepio Holding SGPS SA      5.00                 EUR    50.10
Golden Energy Offshore Ser    5.00   12/31/2017    NOK    40.00
Barclays Bank PLC             0.55    3/28/2033    USD    59.70
Barclays Bank PLC             1.84    11/1/2031    USD    64.50
Alpine Holding GmbH           5.25     7/1/2015    EUR     0.31
Bulgaria Steel Finance BV    12.00     5/4/2013    EUR     2.46
Acron PJSC                    9.55    9/24/2026    RUB   101.01
Hypo Tirol Bank AG            0.12    7/23/2026    EUR    64.72
Lehman Brothers Treasury C    7.25    10/5/2035    EUR     9.63
A-TEC Industries AG           8.75   10/27/2014    EUR     2.00
Nationwide Building Societ    0.82                 GBP    72.00
Banca Popolare di Vicenza     9.50    10/2/2025    EUR    15.50
Solon SE                      1.38    12/6/2012    EUR     0.33
Gazprombank JSC               9.95    12/2/2019    RUB    70.05
Marfin Investment Group Ho    7.00    7/29/2019    EUR     0.40
Kaupthing ehf                 5.75    10/4/2011    USD    17.63
Moscow United Electric Gri    8.55     5/6/2027    RUB    60.10
Virgolino de Oliveira Fina   10.50    1/28/2018    USD     7.13
Agroton Public Ltd            6.00    7/14/2019    USD    14.13
Lehman Brothers Treasury C    5.00    2/16/2015    EUR     9.13
Santander Finance Capital     2.00                 USD    56.16
SAG Solarstrom AG             7.50    7/10/2017    EUR    33.63
KPNQwest NV                   8.88     2/1/2008    EUR     0.65
Rosneft Oil Co PJSC          10.65    12/3/2020    RUB    62.00
Hamburgische Landesbank-Gi    0.05    1/22/2041    EUR    62.29
AKB Peresvet ZAO             13.50   10/16/2020    RUB    13.00
Afren PLC                    11.50     2/1/2016    USD     0.17
Barclays Bank PLC             2.36   12/23/2033    USD    66.20
Barclays Bank PLC             0.61     4/9/2028    USD    67.10
Intelsat Luxembourg SA       12.50   11/15/2024    USD    68.47
New Look Senior Issuer PLC    8.00     7/1/2023    GBP    74.87
La Veggia Finance SPA         7.13   11/14/2004    EUR     1.92
Depfa Funding IV LP           1.54                 EUR    57.13
Autonomous Community of Ca    2.97     9/8/2039    JPY    64.30
Lehman Brothers Treasury C    5.00    9/22/2014    EUR     9.13
Far East Capital Ltd SA       8.00     5/2/2018    USD    70.01
Veneto Banca SpA              1.67    5/15/2019    EUR    43.75
Rosbank PJSC                 10.40    5/27/2026    RUB    61.77
Lloyds Bank PLC               2.70   10/25/2033    USD    73.13
ADLER Real Estate AG          6.00   12/27/2018    EUR    14.50
Cirio Del Monte NV            7.75    3/14/2005    EUR     1.88
Rem Offshore ASA              5.00    12/8/2024    NOK    32.51
BLT Finance BV               12.00    2/10/2015    USD    10.50
Barclays Bank PLC             3.87    4/16/2029    USD    67.25
Deutsche Bank AG/London       2.94    9/30/2029    USD    67.00
Banco Espirito Santo SA      10.00    12/6/2021    EUR     0.74
OAS Investments GmbH          8.25   10/19/2019    USD     3.75
Oceanic Champion AS           8.00    2/20/2020    USD    71.33
Svensk Exportkredit AB        0.50    6/28/2022    ZAR    64.66
Admiral Boats SA              8.50    9/18/2017    PLN    20.00
Northland Resources AB       15.00    7/15/2019    USD     0.41
Vorarlberger Landes- und H    5.87                 EUR    51.98
Talvivaara Mining Co PLC      9.75     4/4/2017    EUR     1.03
UniCredit Bank AG             5.00   12/21/2029    EUR    73.52
Mriya Agro Holding PLC        9.45    4/19/2018    USD     4.00
Svensk Exportkredit AB        0.50    4/24/2029    AUD    62.79
Cooperatieve Rabobank UA      0.50    1/31/2033    MXN    24.87
DEMIRE Real Estate AG         6.00   12/30/2018    EUR     3.69
Northland Resources AB        4.00   10/15/2020    USD     0.21
Bank Julius Baer & Co Ltd/    6.70     6/2/2017    USD    55.05
Barclays Bank PLC             1.88    8/15/2033    USD    61.00
Karlie Group GmbH             5.00    6/25/2021    EUR     3.70
Autonomous Community of Ca    1.06     9/8/2024    EUR    73.01
Landesbank Hessen-Thuering    0.09    4/23/2041    EUR    70.93
Accentro Real Estate AG       6.25    3/27/2019    EUR    10.50
Minicentrales Dos SA          6.45    4/14/2028    EUR    67.13
Stroika Finance Ltd Via Em    9.90    6/25/2019    RUB    12.00
MegaFon PJSC                  9.90    5/29/2026    RUB   102.36
Novo Banco SA                 3.00   12/16/2021    EUR    69.86
Dannemora Mineral AB         11.75    3/22/2016    USD     0.42
Artea                         6.00     8/4/2019    EUR    14.43
Lehman Brothers Treasury C    2.88    3/14/2013    CHF     9.13
Municipality Finance PLC      0.50    4/26/2022    ZAR    65.75
Stichting Afwikkeling Onde    6.63    5/14/2018    EUR     3.02
A-TEC Industries AG           5.75    11/2/2010    EUR     2.00
Barclays Bank PLC             0.48    4/19/2033    USD    56.00
Rosbank PJSC                  9.80   12/20/2026    RUB    61.66
Lehman Brothers Treasury C    8.25    3/16/2035    EUR     9.13
Kaupthing ehf                 9.00                 USD     0.13
BNP Paribas SA                0.50    9/29/2029    AUD    61.85
Rosbank PJSC                  7.50    10/7/2024    RUB    98.00
wige MEDIA AG                 6.00    3/17/2019    EUR     2.90
Activa Resources AG           8.00   11/15/2017    EUR    17.80
Bibby Offshore Services PL    7.50    6/15/2021    GBP    55.50
Svensk Exportkredit AB        0.50    8/29/2029    AUD    62.78
Banca Popolare di Vicenza     5.00    3/31/2021    EUR    66.24
Vnesheconombank               9.76   12/17/2021    RUB    60.06
Svensk Exportkredit AB        0.50    6/29/2029    AUD    63.12
AKB Peresvet ZAO             13.25    4/25/2018    RUB    23.49
Mifa Mitteldeutsche Fahrra    7.50    8/12/2018    EUR     2.95
KPNQwest NV                   7.13     6/1/2009    EUR     0.51
Uppfinnaren 1 AB             10.00                 SEK    63.55
Gazprombank JSC               9.87    2/19/2021    RUB    60.00
Orient Express Bank PJSC     13.60     8/9/2018    RUB    62.00
Banca Popolare di Vicenza     5.00    5/30/2021    EUR    65.16
UniCredit Bank Austria AG     0.02    1/25/2031    EUR    69.39
Lehman Brothers Treasury C    6.65    8/24/2011    AUD     9.63
Phones4u Finance PLC          9.50     4/1/2018    GBP    72.88
Ideal Standard Internation   11.75     5/1/2018    EUR     4.78
Kamaz PJSC                   11.24    7/18/2030    RUB    62.00
Minaya Capital AG             7.00     8/1/2018    EUR    69.55
Russian Railways JSC         10.30    3/25/2026    RUB    63.00
Podkarpacki Bank Spoldziel    5.81     7/2/2020    PLN    67.10
Deutsche Bank AG              0.35    6/28/2033    USD    57.50
Virgolino de Oliveira Fina   11.75     2/9/2022    USD     7.38
Cooperatieve Rabobank UA      0.50   10/30/2043    MXN    12.49
DOF ASA                       7.89    9/12/2019    NOK    40.00
Rosneft Oil Co PJSC           9.85    1/18/2021    RUB    60.00
Barclays Bank PLC             2.96    9/29/2034    USD    71.85
Oi Brasil Holdings Coopera    5.63    6/22/2021    EUR    31.00
Alpha Bank AE                 2.50    6/20/2022    EUR    74.06
O1 Properties Finance ZAO    13.00    10/2/2020    RUB   107.00
Banco BPI SA                  1.78                 EUR    58.02
KPNQwest NV                   8.13     6/1/2009    USD     0.49
Banca Popolare di Vicenza     5.00   11/22/2020    EUR    68.17
Banca Popolare di Vicenza     5.00    3/25/2021    EUR    66.32
Rinol AG                      5.50   10/15/2006    DEM     0.00
Johnston Press Bond Plc       8.63     6/1/2019    GBP    61.00
WPE International Cooperat   10.38    9/30/2020    USD    16.50
Governo Portugues Consolid    2.75                 EUR    68.75
Vnesheconombank              11.60    2/17/2025    RUB   100.00
Heta Asset Resolution AG      0.43   12/31/2023    EUR    39.75
Solarwatt GmbH                7.00    11/1/2015    EUR    14.50
Royal Bank of Scotland PLC    2.42   12/13/2028    USD    72.31
SAir Group                    0.13     7/7/2005    CHF    13.63
BNP Paribas SA                0.50    7/20/2021    BRL    64.60
Barclays Bank PLC             5.29    3/27/2029    USD    74.25
Lehman Brothers Treasury C    7.00   11/26/2013    EUR     9.13
Sairgroup Finance BV          6.63    10/6/2010    EUR     9.88
Barclays Bank PLC             1.70    4/25/2034    USD    68.50
Sberbank of Russia PJSC      10.00    6/20/2019    RUB    81.00
Rosneft Oil Co PJSC          11.40    12/3/2020    RUB    62.00
Sankt-Peterburg Telecom OA   10.70    1/31/2022    RUB    62.63
Banca Meridiana               1.25   11/12/2017    EUR    21.00
ING Bank Eurasia JSC          9.70    5/27/2020    RUB    61.30
Heta Asset Resolution AG      0.24   12/31/2023    EUR    39.75
Raiffeisen Versicherung AG    2.02                 EUR    31.28
Kaupthing ehf                 5.75    10/4/2011    USD    17.63
Veneto Banca SpA              5.41    5/25/2023    EUR    61.28
Royal Bank of Scotland PLC    1.72    2/25/2031    USD    63.60
Mechel PJSC                   8.00     2/9/2021    RUB    71.28
Atari SA                      7.50    2/17/2020    EUR     0.37
UkrLandFarming PLC           10.88    3/26/2018    USD    21.63
Lehman Brothers Treasury C    7.00     6/6/2017    EUR     0.26
EFG International Finance    10.15     8/2/2017    CHF    70.06
Atomenergoprom JSC           11.10   12/12/2025    RUB    63.66
Espirito Santo Financial G    5.05   11/15/2025    EUR     0.86
Republic of Italy Governme    0.19    7/31/2045    EUR    74.10
Norske Skogindustrier ASA     2.00   12/30/2115    EUR     8.25
Afren PLC                    10.25     4/8/2019    USD     0.01
WGF Westfaelische Grundbes    6.35     8/1/2017    EUR     3.50
Minicentrales Dos SA          4.81   11/29/2034    EUR    60.13
Bilt Paper BV                 9.64                 USD    29.88
Atari SA                      0.10     4/1/2020    EUR     4.26
Far East Capital Ltd SA       8.75     5/2/2020    USD    70.67
United Engine Corp JSC       10.75    6/10/2026    RUB    66.11
Cattles Ltd                   7.13     7/5/2017    GBP     0.28
Afren PLC                     6.63    12/9/2020    USD     0.06
Cie de Financement Foncier    0.98    8/11/2046    EUR    73.00
Gazprom PJSC                  5.10   10/21/2043    RUB    60.01
ML 33 Invest AS               7.50                 NOK    68.86
Lehman Brothers Treasury C    5.55    3/12/2015    EUR     0.26
Lehman Brothers Treasury C    6.00    3/14/2011    EUR     9.13
Cerruti Finance SA            6.50    7/26/2004    EUR     1.30
Lehman Brothers Treasury C    5.00    2/27/2014    EUR     9.13
Lloyds Bank PLC               2.70    4/25/2034    USD    67.50
International Industrial B    9.00     7/6/2011    EUR     0.70
Virgolino de Oliveira Fina   10.88    1/13/2020    USD    28.38
Elli Investments Ltd         12.25    6/15/2020    GBP    68.00
Municipiul Timisoara          0.80    5/15/2026    RON    70.00
AKB Peresvet ZAO             13.25    6/22/2017    RUB    22.63
Banca Popolare di Vicenza     4.97    4/20/2027    EUR    41.28
Pierer Industrie AG           5.75                 EUR    62.69
Municipality Finance PLC      0.50   11/17/2020    BRL    74.10
BLT Finance BV                7.50    5/15/2014    USD     2.18
Anglian Water Services Fin    0.87    1/26/2057    GBP    74.50
City of Moscow Russia         7.50    5/18/2021    RUB    60.01
Kaupthing ehf                 5.25    7/18/2017    BGN    17.63
Banca Monte dei Paschi di     4.36    3/14/2024    EUR    13.78
State Transport Leasing Co   14.30   12/10/2024    RUB    60.00
Pongs & Zahn AG               8.50                 EUR     0.15
Astana Finance BV             9.00   11/16/2011    USD    16.88
UniCredit Bank AG             0.37   11/19/2029    EUR    62.43
Muehl Product & Service AG    6.75    3/10/2005    DEM     2.33
Marfin Investment Group Ho    6.30    7/29/2020    EUR     0.40
Marine Subsea AS              9.00   12/16/2019    USD     0.44
Deutsche Bank AG/London       2.84   11/26/2034    USD    67.25
UniCredit Bank Austria AG     0.16   10/31/2031    EUR    67.28
City of Predeal Romania       1.50    5/15/2026    RON    60.00
Societe Generale SA           1.60     1/9/2020    GBP     1.12
JP Morgan Structured Produ    4.00     6/2/2017    USD    54.96
SUEK Finance                 12.50    8/19/2025    RUB    60.07
Svensk Exportkredit AB        0.50    1/31/2022    ZAR    67.84
Municipality Finance PLC      0.50    6/19/2024    ZAR    54.26
Astana Finance BV             7.88     6/8/2010    EUR    16.88
Lehman Brothers Treasury C    6.00    3/18/2015    USD     9.13
Lehman Brothers Treasury C    8.25    12/3/2015    EUR     9.13
Province of Milan Italy       0.03   12/22/2033    EUR    69.21
Region of Molise Italy        0.18   12/15/2033    EUR    66.37
Municipality Finance PLC      0.50   11/25/2020    ZAR    74.21
Metalloinvest Holding Co O    0.01    3/10/2022    RUB    60.00
Credit Suisse AG/London       0.50     1/8/2026    BRL    44.00
HSH Nordbank AG               2.30     2/1/2036    EUR    74.37
Rosneft Oil Co PJSC          14.90    12/3/2020    RUB    62.00
Rosneft Oil Co PJSC           9.85    1/18/2021    RUB    60.00
Windreich GmbH                6.25     3/1/2015    EUR    10.50
KTM Industries AG             5.00                 EUR    74.57
Fonciere Volta SA             4.50    7/30/2020    EUR     2.59
Societe Generale SA           8.88     6/1/2017    USD    34.01
Russian Post FGUP             9.35    9/10/2026    RUB    60.55
Zapsibcombank PAO             5.00     9/4/2017    RUB    61.00
Kaupthing ehf                 6.13    10/4/2016    USD    17.63
EFG International Finance     6.00   11/30/2017    EUR     8.96
Alpha Bank AE                 2.50    6/20/2022    EUR    74.08
Rossiysky Capital OJSC       13.00   11/22/2019    RUB    80.01
EFG International Finance     2.10    3/23/2018    EUR    20.37
City of Kiev Ukraine Via C    8.00    11/6/2015    USD    64.88
HPI AG                        3.50                 EUR     6.00
Commerzbank AG               30.00    6/30/2020    USD     6.07
Lehman Brothers Treasury C    4.00    7/20/2012    EUR     0.26
Nuova Banca delle Marche S    7.20    6/30/2018    EUR     1.24
Rosintrud OOO                10.50     2/5/2021    RUB    60.00
Northland Resources AB        4.00   10/15/2020    NOK     0.25
Lehman Brothers Treasury C    5.00    3/18/2015    EUR     9.13
Oberbank Hybrid 1 GmbH        0.87                 EUR    47.96
Petromena ASA                10.85   11/19/2017    USD     0.52
ENEL RUSSIA PJSC             12.10    5/22/2025    RUB   102.73
OT-Optima Telekom DD          5.25    5/30/2022    HRK
VEB-Leasing OAO              12.50     9/1/2025    RUB
Barclays Bank PLC             2.28    8/31/2031    USD    67.50
Agentstvo po Ipotechnomu Z    9.50   11/15/2024    RUB    61.00
SAir Group                    6.25    4/12/2005    CHF    13.63
SG Issuer SA                  5.50    4/10/2021    EUR    65.97
Salvator Grundbesitz-AG       9.50                 EUR    19.15
ROSSETI PJSC                 11.25   11/14/2025    RUB    80.00
Kommunekredit                 0.50    7/30/2027    TRY    33.67
Societe Generale SA           0.53    6/28/2033    USD    73.75
Lehman Brothers Treasury C    5.00     5/2/2022    EUR     0.26
Lehman Brothers Treasury C    1.46    2/19/2012    JPY     9.13
Municipiul Timisoara          0.80    5/15/2026    RON    68.00
Aralco Finance SA            10.13     5/7/2020    USD     1.77
Metalloinvest Holding Co O    0.01     3/7/2022    RUB    50.01
Credit Agricole Corporate     0.50     3/6/2023    RUB    64.64
Er-Telekom Holding ZAO       10.85    12/1/2021    RUB    60.06
Barclays Bank PLC             2.57    3/21/2031    USD    70.13
United Aircraft Corp PJSC     8.00    3/17/2020    RUB    60.00
Podkarpacki Bank Spoldziel    5.81    3/31/2025    PLN    50.00
Lloyds Bank PLC               0.50    7/26/2021    BRL    67.35
Banco Espirito Santo SA       1.22    5/27/2018    EUR     0.74
AKB Peresvet ZAO             13.00    10/7/2017    RUB    22.50
Santander Finance Capital     2.00                 USD    56.16
Moscow United Electric Gri   11.00    9/12/2024    RUB    62.00
Finans-Avia OOO               0.01    7/31/2027    RUB    20.65
Credit Suisse AG/London       9.20   10/28/2019    USD     9.82
Synergy PJSC                 14.50    5/28/2020    RUB    61.07
Banca Popolare di Vicenza     1.60    2/20/2020    EUR    67.35
Municipality Finance PLC      0.50    7/30/2029    AUD    70.31
Bank Nederlandse Gemeenten    0.50    6/22/2021    ZAR    70.80
UBS AG                        5.60     3/4/2019    EUR    72.17
Lehman Brothers Treasury C    5.25   11/21/2009    USD     0.26
Ekotechnika AG                9.75    5/10/2018    EUR     9.50
Province of Brescia Italy     0.14    6/30/2036    EUR    63.40
Lehman Brothers Treasury C    4.50     5/2/2017    EUR     9.13
Penell GmbH Elektrogroshan    7.75    6/10/2019    EUR     5.07
ROSSETI PJSC                 11.90     6/9/2025    RUB    60.07
Lillestroem Sparebank         4.44                 NOK    62.30
BNP Paribas SA                0.50     5/6/2021    MXN    71.35
Kaupthing ehf                 7.50     2/1/2045    USD     0.27
Lehman Brothers Treasury C    8.00    2/16/2016    EUR     0.26
Bank Nederlandse Gemeenten    0.50    8/15/2022    ZAR    63.83
Lehman Brothers Treasury C    1.28    11/6/2010    JPY     9.13
Rossiysky Capital OJSC       10.50    1/16/2020    RUB    70.01
DekaBank Deutsche Girozent    0.01    6/29/2046    EUR    53.58
Dummy Set-up for ticker DU    9.55   12/28/2046    RUB     4.40
ECA                           2.50     1/1/2018    EUR
Bank Nederlandse Gemeenten    0.50    5/12/2021    ZAR    71.55
EDOB Abwicklungs AG           7.50     4/1/2012    EUR     0.60
ECM Real Estate Investment    5.00    10/9/2011    EUR    10.38
Societe Generale SA           1.00   12/22/2017    GBP     0.98
Rosneft Oil Co PJSC           9.35    1/18/2021    RUB    60.00
RGS Nedvizhimost OOO         12.50     6/2/2017    RUB    74.03
Agentstvo po Ipotechnomu Z    8.05   11/15/2018    RUB    70.00
Reso-Leasing OOO             10.50    9/21/2023    RUB   100.25
BAWAG PSK Versicherungs AG    1.06                 EUR    53.75
Sibur Holding PAO             9.65    9/16/2026    RUB    60.06
Cooperatieve Rabobank UA      0.50   12/29/2027    MXN    41.91
Phosphorus Holdco PLC        10.00     4/1/2019    GBP     2.10
LBI HF                        7.43                 USD     0.00
Credit Suisse AG/London      11.70    4/20/2018    USD    10.21
Rosselkhozbank JSC           12.87   12/21/2021    RUB    60.06
Bayerische Landesbank         2.70     7/6/2018    EUR    69.88
Rosneft Oil Co PJSC          10.65    12/3/2020    RUB    62.00
SG Issuer SA                  0.82     8/2/2021    SEK    69.30
Societe Generale SA           0.57    2/28/2033    USD    63.40
Svensk Exportkredit AB        0.50    2/22/2022    ZAR    66.52
Lehman Brothers Treasury C    7.00    4/14/2009    EUR     0.26
Transcapitalbank JSC         15.00    2/14/2022    RUB   102.01
Banca Popolare di Vicenza     2.50   11/22/2019    EUR    71.07
Banca Popolare di Vicenza     2.50    7/11/2019    EUR    74.69
SG Issuer SA                  6.65   10/10/2021    EUR    73.84
Vnesheconombank               9.75    8/16/2029    RUB    60.00
Podkarpacki Bank Spoldziel    5.11    5/28/2023    PLN    60.20
German Pellets GmbH           8.00                 EUR     0.12
Gazprom PJSC                  5.10   10/21/2043    RUB    60.00
COFIDUR SA                    0.10   12/31/2024    EUR    22.45
Voss Veksel OG Landmands B    8.15                 NOK    73.71
HSBC Bank PLC                 0.50   10/30/2026    NZD    70.14
Lehman Brothers Treasury C    1.75     2/7/2010    EUR     0.26
Lehman Brothers Treasury C    8.25     2/3/2016    EUR     0.26
Lehman Brothers Treasury C   11.00   12/20/2017    AUD     0.26
AKB Peresvet ZAO             12.50     9/6/2017    RUB    21.55
Windreich GmbH                6.75     3/1/2015    EUR    10.50
Rusfinans Bank OOO            9.90    7/18/2018    RUB    60.78
Russian Railways JSC         13.90    5/30/2040    RUB
Promnefteservis OOO          10.50   11/21/2019    RUB     3.40
Dummy Set-up for ticker DU    8.50    7/15/2041    RUB
LBI HF                        2.25    2/14/2011    CHF     7.13
Banca Popolare di Vicenza     2.00    11/7/2019    EUR    70.53
Agentstvo po Ipotechnomu Z   10.90    11/1/2022    RUB    60.72
UmweltBank AG                 2.85                 EUR    70.10
Vimpel-Communications PJSC   11.90    10/3/2025    RUB    62.00
Rosneft Oil Co PJSC           9.85    1/18/2021    RUB    60.00
Lehman Brothers Treasury C   23.30    9/16/2008    USD     0.26
Lehman Brothers Treasury C    0.01    9/20/2011    USD     0.26
Rostelecom PJSC              11.70    5/20/2025    RUB    60.07
Svensk Exportkredit AB        0.50    3/28/2029    AUD    70.60
Orient Express Bank PJSC     11.70    7/17/2018    RUB    59.40
Agentstvo po Ipotechnomu Z   11.50    9/25/2018    RUB    70.00
Veneto Banca SpA              2.40    3/31/2020    EUR    71.46
Banca delle Marche SpA        6.00     5/8/2018    EUR     1.22
Lehman Brothers Treasury C    7.50    6/15/2017    USD     0.26
Lehman Brothers Treasury C    5.00    8/16/2017    EUR     9.13
EFG International Finance     7.20    2/25/2019    EUR    12.41
DekaBank Deutsche Girozent    0.12    6/23/2034    EUR    70.81
Lehman Brothers Treasury C    6.70    4/21/2011    USD     0.26
Lehman Brothers Treasury C    4.87    10/8/2013    USD     0.26
UniCredit Bank AO            12.35    9/16/2020    RUB    63.00
Salvator Grundbesitz-AG       9.50   12/31/2021    EUR    10.20
Soyuz AKB OAO                13.00   11/22/2019    RUB    95.00
Bank Nederlandse Gemeenten    0.50     8/9/2022    MXN    66.41
Lehman Brothers Treasury C    7.39     5/4/2017    USD     0.26
Lehman Brothers Treasury C    3.00    12/3/2012    EUR     0.26
Credit Suisse AG/Nassau       7.13    6/26/2017    CHF    66.88
Gold-Zack AG                  7.00   12/14/2005    EUR    12.58
Lehman Brothers Treasury C    3.03    1/31/2015    EUR     0.26
Rosselkhozbank JSC           14.50                 RUB    64.52
Rosselkhozbank JSC           14.50                 RUB    64.89
Rusfinans Bank OOO            8.90    4/24/2018    RUB    60.07
Deutsche Bank AG/London       0.50    10/5/2021    IDR    66.29
Barclays Bank PLC             7.12    10/4/2017    USD    37.01
Lehman Brothers Treasury C    4.70    3/23/2016    EUR     0.26
Lehman Brothers Treasury C    5.00    5/12/2011    CHF     0.26
State of Saxony-Anhalt        0.30     7/3/2028    EUR    24.00
Municipality Finance PLC      0.50    5/31/2022    ZAR    65.04
Rusfinans Bank OOO           10.00    7/31/2026    RUB    61.17
Rusfinans Bank OOO            9.65    2/26/2021    RUB    60.23
Agentstvo po Ipotechnomu Z   10.30    7/15/2023    RUB    61.00
Municipality Finance PLC      0.50     5/8/2029    AUD    60.81
Barclays Bank PLC             0.50    3/26/2021    MXN    70.47
SAir Group                    5.50    7/23/2003    CHF    13.57
Societe Generale SA           8.00    2/14/2022    USD     9.00
Lehman Brothers Treasury C    4.60   10/11/2017    ILS     9.13
AKB Peresvet ZAO              2.45     9/2/2020    RUB    11.34
Bank Julius Baer & Co Ltd/   15.40    6/16/2017    USD    56.20
Lehman Brothers Treasury C    7.60    5/21/2013    USD     0.26
Lehman Brothers Treasury C    5.00   11/22/2012    EUR     0.26
Lehman Brothers Treasury C    2.00    6/28/2011    EUR     0.26
City of Siret Romania         2.32     3/1/2028    RON    50.00
HSBC Bank PLC                 0.50   12/29/2026    AUD    67.53
Freight One JSC              12.00   10/15/2025    RUB    63.06
Cooperatieve Rabobank UA      0.50    8/21/2028    MXN    39.51
Svensk Exportkredit AB        0.50    6/20/2029    AUD    70.02
Vnesheconombank               8.35   11/24/2020    RUB    60.06
BELLAGIO Holding GmbH         2.18                 EUR    48.20
Lehman Brothers Treasury C    2.00   11/16/2009    EUR     0.26
LBI HF                        6.10    8/25/2011    USD     8.75
Lehman Brothers Treasury C    4.00    4/13/2011    CHF     0.26
Mriya Agro Holding PLC       10.95    3/30/2016    USD     6.75
Lehman Brothers Treasury C    4.60     7/6/2016    EUR     0.26
Lehman Brothers Treasury C    0.50   12/20/2017    AUD     9.63
Lehman Brothers Treasury C    4.60    11/9/2011    EUR     9.13
Lehman Brothers Treasury C    4.00    7/27/2011    EUR     0.26
Corner Banca SA              20.00    7/10/2018    CHF    71.51
EFG International Finance    14.00     3/8/2018    CHF    62.69
ROSSETI PJSC                 10.29   10/31/2045    RUB    60.07
Lehman Brothers Treasury C    5.12    4/30/2027    EUR     0.26
Lehman Brothers Treasury C    5.50    6/22/2010    USD     9.13
UVS-Finance OOO              14.50    9/10/2019    RUB    99.97
Podkarpacki Bank Spoldziel    5.01    10/6/2021    PLN    70.60
Bank Nederlandse Gemeenten    0.50    9/20/2022    ZAR    63.18
Sidetur Finance BV           10.00    4/20/2016    USD     3.54
ENEL RUSSIA PJSC             12.10    5/22/2025    RUB    60.06
Banca delle Marche SpA        6.00    6/12/2018    EUR     1.52
AKB Peresvet ZAO             12.75    7/24/2018    RUB    19.74
Lehman Brothers Treasury C   11.00    6/29/2009    EUR     0.26
Kommunekredit                 0.50    5/11/2029    CAD    74.42
Banca Popolare di Vicenza     5.20    3/28/2024    EUR    51.57
Lehman Brothers Treasury C    6.00    9/20/2011    EUR     0.26
Credit Suisse AG/London       8.00   11/29/2019    USD     7.50
KPNQwest NV                   7.13     6/1/2009    EUR     0.51
Lehman Brothers Treasury C    8.00    3/19/2012    USD     0.26
Rosneft Oil Co PJSC           9.85    1/18/2021    RUB    60.00
Kamaz PJSC                   10.39    12/5/2030    RUB    62.00
Lehman Brothers Treasury C    7.60    1/31/2013    AUD     0.26
Societe Generale SA           7.00   10/20/2020    USD
Russian Bank for Small and    9.25    3/17/2022    RUB    60.31
RusHydro PJSC                11.85     7/4/2018    RUB    86.00
Svensk Exportkredit AB        0.10   11/20/2019    TRY    73.85
Agrokompleks OOO              0.10    7/29/2019    RUB     5.00
Espirito Santo Financial G    5.05   11/15/2025    EUR     0.71
National Capital JSC          9.25    4/22/2019    RUB    99.98
Kaupthing ehf                 7.63    2/28/2015    USD    17.63
Lehman Brothers Treasury C   14.90   11/16/2010    EUR     0.26
Kubanenergo PJSC             10.44   11/21/2025    RUB    60.00
PA Urals Optical & Mechani   14.25   12/25/2018    RUB    95.75
Lehman Brothers Treasury C    8.00    5/22/2009    USD     0.26
Lehman Brothers Treasury C   10.00    6/11/2038    JPY     0.26
Lehman Brothers Treasury C   12.00    7/13/2037    JPY     0.26
Lehman Brothers Treasury C    4.68   12/12/2045    EUR     0.26
Kamaz PJSC                    9.63    12/2/2031    RUB    62.00
Rusfinans Bank OOO           10.10    6/30/2020    RUB    60.14
BLT Finance BV                7.50    5/15/2014    USD     2.18
Transneft PJSC                8.00     7/3/2025    RUB    62.00
Lehman Brothers Treasury C    7.50     5/2/2017    EUR     0.26
Lehman Brothers Treasury C   11.00   12/19/2011    USD     0.26
Leonteq Securities AG/Guer   29.61   10/26/2017    EUR    37.89
Kommunekredit                 0.50   12/14/2020    ZAR    74.02
Ladya-Finans LLC             12.00   10/29/2021    RUB    61.00
ROSSETI PJSC                  9.15    8/18/2026    RUB    60.06
Barclays Bank PLC             0.50    1/28/2033    MXN    23.90
Barclays Bank PLC             1.00    5/10/2019    JPY    56.59
HSBC Bank PLC                 0.50    6/10/2021    BRL    67.25
SAir Group                    6.25   10/27/2002    CHF    13.58
Ashinskiy metallurgical wo    5.60    6/17/2024    RUB    62.00
Lehman Brothers Treasury C    0.50   12/20/2017    AUD     0.26
Bayerische Landesbank         2.60   10/19/2018    EUR    67.42
SAir Group                    4.25     2/2/2007    CHF    13.63
Union Technologies Informa    0.10     1/1/2020    EUR     5.40
TGC-1 PJSC                    5.60    2/14/2022    RUB    60.01
Commerzbank AG                8.00    7/14/2021    USD
National Capital JSC          9.50    7/25/2018    RUB   100.00
Bank Julius Baer & Co Ltd/    6.00    7/24/2017    CHF    74.80
Lehman Brothers Treasury C    4.50     3/6/2013    CHF     0.26
Northland Resources AB       15.00    7/15/2019    USD     0.41
ROSSETI PJSC                  9.15    8/18/2026    RUB    60.06
Veneto Banca SpA              5.15    1/25/2023    EUR    61.81
Oberoesterreichische Lande    0.30    4/25/2042    EUR    26.76
EFG International Finance     7.00   11/27/2019    EUR    17.22
EFG International Finance     8.99     9/4/2017    EUR     2.94
AKB Peresvet ZAO             13.50    6/23/2021    RUB    12.49
Polbrand sp zoo               9.00    10/2/2017    PLN    50.00
Lehman Brothers Treasury C    0.50     7/2/2020    EUR     0.26
Lehman Brothers Treasury C    7.00    9/20/2011    USD     0.26
Russian Railways JSC          6.80    5/20/2044    RUB
Communaute Francaise de Be    0.50    6/27/2046    EUR    68.19
Locko-Bank AO                12.55    7/11/2023    RUB    60.31
Espirito Santo Financial P    5.63    7/28/2017    EUR     1.04
Lehman Brothers Treasury C   13.50   11/28/2008    USD     0.26
EFG International Finance    12.86   10/30/2017    EUR     1.96
Societe Generale SA           0.50     8/4/2021    BRL    67.40
Polski Bank Spoldzielczy w    4.81    6/18/2020    PLN    50.00
Lehman Brothers Treasury C    0.50   12/20/2017    AUD     0.26
Lehman Brothers Treasury C    0.50   12/20/2017    AUD     0.26
Rosselkhozbank JSC           10.85    7/14/2025    RUB    60.27
Lehman Brothers Treasury C    5.00    12/6/2011    EUR     0.26
Kamaz PJSC                    9.92   11/24/2031    RUB    62.00
Podkarpacki Bank Spoldziel    5.81   10/24/2024    PLN    55.20
Bank VTB 24 JSC               9.00     9/1/2044    RUB
Escher Marwick PLC            3.50   10/14/2031    USD    74.57
Dummy Set-up for ticker DU    3.00   12/28/2046    RUB    33.41
Europlan Leasing Co          12.50    9/25/2019    RUB    94.13
Agrokompleks OOO              0.10    12/8/2022    RUB     3.91
Lehman Brothers Treasury C    7.59   11/22/2009    MXN     9.13
VEB-Leasing OAO               8.65    1/16/2024    RUB    62.00
Svensk Exportkredit AB        0.50    3/15/2022    ZAR    66.47
Barclays Bank PLC             0.50    4/24/2023    MXN    57.90
T Plus PJSC                   9.50    8/24/2017    RUB    97.51
Lenenergo PJSC                9.80     7/9/2025    RUB    60.00
Rusfinans Bank OOO            8.75    9/29/2020    RUB    60.16
Heliocentris Energy Soluti    4.00    1/16/2019    EUR    21.93
VEB-Leasing OAO              12.50    8/18/2025    RUB    62.00
Bayerische Landesbank         2.70    7/13/2018    EUR    73.83
Nuova Banca delle Marche S    7.75    6/30/2018    EUR     1.24
Lehman Brothers Treasury C    4.30     6/4/2012    USD     0.26
Lehman Brothers Treasury C   15.00     6/4/2009    CHF     0.26
Lehman Brothers Treasury C   10.00    6/17/2009    USD     0.26
HSBC Bank PLC                 0.50    7/21/2021    BRL    66.39
BKS Hybrid alpha GmbH         7.35                 EUR    60.45
Delta Credit Bank JSC         9.65    10/1/2024    RUB    61.60
IDGC of the North Caucasus   13.00    4/22/2021    RUB    61.00
Societe Generale SA           0.50    5/22/2024    MXN    55.67
SUEK Finance                 12.50    8/19/2025    RUB    60.07
Lehman Brothers Treasury C    4.35     8/8/2016    SGD     9.63
Lehman Brothers Treasury C    7.25    10/6/2008    EUR     0.26
Lehman Brothers Treasury C    6.00   10/24/2008    EUR     0.26
Lehman Brothers Treasury C    6.85   12/22/2008    EUR     0.26
Bulgaria Steel Finance BV    12.00     5/4/2013    EUR     2.46
Main Road OJSC                4.10   10/30/2028    RUB    60.00
UBS AG/London                 5.00    8/14/2017    CHF    53.80
ECM Real Estate Investment    5.00    10/9/2011    EUR    10.38
Lehman Brothers Treasury C    0.50   12/20/2017    AUD     0.26
LBI HF                        7.43                 USD     0.00
LZMO SA                       8.50    6/30/2017    PLN    63.64
BNP Paribas Emissions- und    9.00    6/22/2017    EUR    47.16
IDGC of the South PJSC       13.50     6/8/2020    RUB    60.00
Kerdos Group SA               8.00   12/15/2017    PLN
Russian Post FGUP             2.75    12/6/2023    RUB    71.82
MIK OAO                      15.00    2/19/2020    RUB     5.55
GlobexBank AO                11.00   12/25/2021    RUB    96.25
Freight One JSC              11.80   10/23/2025    RUB    65.11
Lehman Brothers Treasury C    5.10    6/22/2046    EUR     0.26
Societe Generale Effekten     4.00    6/26/2017    EUR    50.93
BNP Paribas SA                0.50   11/16/2032    MXN    29.10
Hellas Telecommunications     8.50   10/15/2013    EUR     0.37
Societe Generale SA           0.50    5/30/2023    MXN    60.75
Bank Nederlandse Gemeenten    0.50    9/20/2022    MXN    65.77
Barclays Bank PLC             0.50    3/13/2023    RUB    64.56
Leonteq Securities AG         3.00    2/21/2018    CHF
EFG International Finance     6.48    5/29/2018    EUR     5.92
Lehman Brothers Treasury C    6.00   10/30/2012    USD     0.26
Lehman Brothers Treasury C   11.00   12/20/2017    AUD     0.26
Bayerische Landesbank         2.70     7/6/2018    EUR    73.31
Lehman Brothers Treasury C    0.50     8/1/2020    EUR     0.26
Lehman Brothers Treasury C   16.20    5/14/2009    USD     0.26
Landesbank Baden-Wuerttemb    6.00    6/23/2017    EUR    61.41
LBI HF                        8.65     5/1/2011    ISK     7.13
Barclays Bank PLC             1.85    7/24/2028    USD    71.50
World of Building Technolo    9.90    6/25/2019    RUB     0.45
Bank Julius Baer & Co Ltd/   23.00     8/4/2017    USD    59.25
Indre Sogn Sparebank          5.84                 NOK    54.82
Fininvest OOO                13.00    11/9/2018    RUB     5.05
Banca Popolare di Vicenza     1.60    3/20/2020    EUR    66.56
Municipality Finance PLC      0.25    6/28/2040    CAD    31.37
Atomenergoprom JSC            9.33    12/3/2026    RUB    60.00
Driver & Bengsch AG           8.50   12/31/2027    EUR     0.00
Lehman Brothers Treasury C    4.25    5/15/2010    EUR     0.26
Lehman Brothers Treasury C   11.75     3/1/2010    EUR     0.26
DekaBank Deutsche Girozent    3.40     4/9/2018    EUR    65.58
Lehman Brothers Treasury C   11.00   12/20/2017    AUD     0.26
Lehman Brothers Treasury C   16.00   10/28/2008    USD     0.26
Lehman Brothers Treasury C    5.50    4/23/2014    EUR     0.26
Lehman Brothers Treasury C    5.50     7/8/2013    EUR     0.26
Lehman Brothers Treasury C    7.63    7/22/2011    HKD     0.26
LBI HF                        5.08     3/1/2013    ISK     7.13
Lehman Brothers Treasury C    7.50     8/1/2035    EUR     0.26
Banca Popolare di Vicenza     2.25    8/22/2019    EUR    73.08
Svensk Exportkredit AB        0.50    8/28/2020    TRY    68.62
National Capital JSC         10.50    9/15/2020    RUB   100.00
Province of Brescia Italy     0.11   12/22/2036    EUR    62.69
Petromena ASA                 9.75    5/24/2016    NOK     0.52
Societe Generale SA          11/28/2029    USD    70.77
Lehman Brothers Treasury C   14.90    9/15/2008    EUR     0.26
Kaupthing ehf                 6.13    10/4/2016    USD    17.63
Lehman Brothers Treasury C    5.00   10/24/2008    CHF     0.26
SAir Group                    2.75    7/30/2004    CHF    13.63
UniCredit Bank AG             4.50    9/19/2017    EUR    69.91
Lehman Brothers Treasury C   10.00     1/3/2012    BRL     0.26
Lehman Brothers Treasury C    6.00    5/23/2018    CZK     0.26
Nutritek International Cor    8.75   12/11/2008    USD     2.00
Raiffeisen Schweiz Genosse    6.50     7/2/2018    USD    56.41
Lehman Brothers Treasury C    4.80   11/16/2012    HKD     0.26
Lehman Brothers Treasury C    2.50    8/23/2012    GBP     0.26
HSBC Trinkaus & Burkhardt     9.60    6/23/2017    EUR    52.78
KPNQwest NV                   7.13     6/1/2009    EUR     0.51
Lehman Brothers Treasury C   14.10   11/12/2008    USD     0.26
Lehman Brothers Treasury C    7.60     3/4/2010    NZD     0.26
SAir Group                    5.13     3/1/2003    CHF    14.00
Lehman Brothers Treasury C    9.50     4/1/2018    USD     0.26
Lehman Brothers Treasury C    3.00    6/23/2009    EUR     9.13
Lehman Brothers Treasury C    2.30    4/28/2014    JPY     0.26
Agentstvo po Ipotechnomu Z    9.80    7/15/2024    RUB    60.00
IFK Soyuz OAO                14.00    7/18/2028    RUB    60.00
IFK Soyuz OAO                12.00    12/9/2027    RUB    59.70
Nota-Bank OJSC               13.50     4/1/2016    RUB    31.50
UBS AG                        7.40    5/17/2021    CHF    59.55
Leonteq Securities AG         7.20    5/29/2018    USD
Municipality Finance PLC      0.50   12/15/2020    BRL    73.58
HSBC Bank PLC                 0.50   11/25/2025    BRL    42.94
Credit Suisse AG/London       3.00   11/15/2025    ZAR    64.90
Kubanenergo PJSC             12.63   11/11/2025    RUB    60.00
Upravlenie Otkhodami ZAO      4.00    4/29/2027    RUB    69.17
Moscow United Electric Gri   10.00    5/26/2026    RUB    62.00
Banca Popolare di Vicenza     1.60    5/29/2020    EUR    65.02
Societe Generale SA           0.50     4/3/2023    RUB    64.32
Noyabrskaya Pge OOO           8.50   11/10/2020    RUB    60.00
Kaupthing ehf                 5.00     1/4/2027    SKK    17.63
Lehman Brothers Treasury C    1.50   10/25/2011    EUR     0.26
Province of Rovigo Italy      0.06   12/28/2035    EUR    64.42
Barclays Bank PLC             0.50    3/19/2021    MXN    71.16
IT Holding Finance SA         9.88   11/15/2012    EUR     1.63
Kreditanstalt fuer Wiedera    0.25    10/6/2036    CAD    40.88
KPNQwest NV                   8.88     2/1/2008    EUR     0.65
Lehman Brothers Treasury C    3.60    3/19/2018    JPY     0.26
Lehman Brothers Treasury C    8.00    3/21/2018    USD     0.26
Lehman Brothers Treasury C    4.00    3/10/2011    EUR     0.26
Leonteq Securities AG         5.00   11/21/2018    CHF
Leonteq Securities AG         3.50    4/10/2018    EUR    58.83
EFG International Finance     7.19     5/6/2019    EUR    14.19
UBS AG/London                 9.40    6/30/2017    EUR    51.25
Nuova Banca delle Marche S    8.00    6/30/2018    EUR     1.24
Lehman Brothers Treasury C    6.45    2/20/2010    AUD     0.26
Lehman Brothers Treasury C   17.00     6/2/2009    USD     0.26
Lehman Brothers Treasury C   16.00    11/9/2008    USD     0.26
Lehman Brothers Treasury C   12.00     7/4/2011    EUR     0.26
Uginvestgerion OOO           12.10     4/1/2020    RUB     0.04
Kaupthing ehf                 3.75    2/15/2024    ISK    17.63
Lehman Brothers Treasury C    3.82   10/20/2009    USD     0.26
Lehman Brothers Treasury C    3.00    8/15/2017    EUR     0.26
Podkarpacki Bank Spoldziel    5.81    2/23/2025    PLN    60.10
Northland Resources AB       12.25    3/26/2016    USD     0.41
HSBC Bank PLC                 0.50    4/11/2023    MXN    61.36
Oberbank AG                   7.40                 EUR    68.04
Jyske Bank A/S                0.74    2/13/2023    EUR    68.10
HSBC Bank PLC                 0.50    1/29/2027    NZD    69.32
Societe Generale SA           0.50    6/12/2023    RUB    63.14
Rusfinans Bank OOO           11.00    10/2/2019    RUB    61.12
Svensk Exportkredit AB        0.50    8/25/2021    ZAR    69.37
Raiffeisen Schweiz Genosse    8.99    7/22/2019    EUR    29.36
Transgazservice LLP          10.50    11/8/2019    RUB     0.25
Delta-Finance OOO            10.00   12/17/2020    RUB     0.04
Lehman Brothers Treasury C    3.86    9/21/2011    SGD     9.63
RGS Nedvizhimost OOO         12.50    7/22/2021    RUB    60.10
Lehman Brothers Treasury C    6.75     4/5/2012    EUR     0.26
Lehman Brothers Treasury C    3.40    9/21/2009    HKD     0.26
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    63.70
Commerzbank AG               10.50   10/26/2017    EUR    66.12
OBRAZOVANIE AKIB AO          11.00    5/31/2018    RUB    30.00
UBS AG                        8.75   12/22/2017    EUR    62.58
Lehman Brothers Treasury C    6.72   12/29/2008    EUR     0.26
Lehman Brothers Treasury C    6.00    7/28/2010    EUR     0.26
HSBC Trinkaus & Burkhardt    18.60    6/23/2017    EUR    67.82
HSBC Bank PLC                 0.50    12/8/2020    BRL    71.15
Bank VTB 24 JSC               9.00    9/15/2044    RUB
DekaBank Deutsche Girozent    2.60    6/23/2017    EUR    65.12
Goldman Sachs & Co Wertpap    9.00    6/21/2017    EUR    72.79
Goldman Sachs & Co Wertpap   13.00    6/21/2017    EUR    62.70
UBS AG/London                 8.25     8/7/2017    EUR    73.25
Leonteq Securities AG         3.80    2/21/2018    EUR
Leonteq Securities AG         4.40    2/21/2018    USD
Leonteq Securities AG         6.00    8/21/2017    CHF     0.08
Leonteq Securities AG         6.00    8/21/2017    EUR     0.01
Leonteq Securities AG         6.77    8/17/2017    CHF    57.68
Leonteq Securities AG         5.40    8/28/2017    CHF    57.26
Commerzbank AG               13.50   12/20/2017    EUR    73.93
Lehman Brothers Treasury C    9.25    6/20/2012    USD     0.26
Lehman Brothers Treasury C    3.00    9/13/2010    JPY     9.13
Leonteq Securities AG         5.00     9/4/2018    CHF    60.81
Leonteq Securities AG         5.60     9/4/2017    CHF    71.79
Leonteq Securities AG         5.60    9/11/2017    CHF    59.19
DekaBank Deutsche Girozent    2.75    6/24/2019    EUR    71.95
SAir Group                    2.75    7/30/2004    CHF    13.63
Lehman Brothers Treasury C    3.35   10/13/2016    EUR     0.26
Lehman Brothers Treasury C    4.00    5/30/2010    USD     0.26
Lehman Brothers Treasury C    2.48    5/12/2009    USD     0.26
Lehman Brothers Treasury C    2.25    5/12/2009    USD     0.26
Lehman Brothers Treasury C    4.10    6/10/2014    SGD     9.63
UniCredit Bank AG             4.00    6/26/2018    EUR    72.47
UniCredit Bank AG             4.60    6/30/2017    EUR    56.74
Landesbank Baden-Wuerttemb    3.25    1/26/2018    EUR    71.13
Landesbank Hessen-Thuering    4.00    1/16/2018    EUR    71.23
Leonteq Securities AG/Guer    5.00   12/27/2019    EUR    69.04
Landesbank Baden-Wuerttemb    3.00    2/23/2018    EUR    71.15
Landesbank Baden-Wuerttemb    3.15    6/22/2018    EUR    72.66
UBS AG                        9.50   12/22/2017    EUR    59.66
UBS AG                        5.25   12/22/2017    EUR    67.58
UBS AG                        8.25   12/22/2017    EUR    71.73
UBS AG                       11.75   12/22/2017    EUR    53.83
UBS AG                        7.75   12/22/2017    EUR    67.22
UBS AG                        7.00   12/22/2017    EUR    69.67
UBS AG                       10.25   12/22/2017    EUR    56.17
UBS AG                       10.25   12/22/2017    EUR    46.42
UBS AG                        5.00   12/22/2017    EUR    71.95
UBS AG                        8.50   12/22/2017    EUR    51.14
UBS AG                       11.75   12/22/2017    EUR    42.17
UBS AG                        8.00   12/22/2017    EUR    65.94
UBS AG                       11.75   12/22/2017    EUR    52.90
UBS AG                        7.50   12/22/2017    EUR    55.41
UBS AG                        9.50   12/22/2017    EUR    64.21
UBS AG                        5.75   12/22/2017    EUR    63.90
UBS AG                        8.25   12/22/2017    EUR    53.30
UBS AG                        8.25   12/22/2017    EUR    54.82
UBS AG                        4.50   12/22/2017    EUR    72.67
UBS AG                        9.50   12/22/2017    EUR    59.05
UBS AG                        6.50   12/22/2017    EUR    59.04
Lehman Brothers Treasury C    5.00    4/24/2017    EUR     0.26
Lehman Brothers Treasury C    0.80   12/30/2016    EUR     0.26
Lehman Brothers Treasury C    4.00    5/17/2010    USD     0.26
Lehman Brothers Treasury C    6.00   12/30/2017    EUR     0.26
Lehman Brothers Treasury C    6.00    2/19/2023    USD     0.26
Lehman Brothers Treasury C    1.00    2/26/2010    USD     0.26
Deutsche Bank AG              3.20   11/22/2017    EUR    73.50
Vontobel Financial Product    8.00    9/29/2017    EUR    73.32
Landesbank Baden-Wuerttemb    3.00    9/22/2017    EUR    72.10
Leonteq Securities AG         6.00   10/12/2017    CHF    64.21
UniCredit Bank AG             5.40    6/30/2017    EUR    68.97
Lehman Brothers Treasury C    6.25   11/30/2012    EUR     0.26
DekaBank Deutsche Girozent    3.10     8/4/2017    EUR    57.89
Lehman Brothers Treasury C    8.00   10/17/2014    EUR     0.26
Lehman Brothers Treasury C    0.50   12/20/2017    USD     0.26
Lehman Brothers Treasury C    0.50   12/20/2017    USD     0.26
Lehman Brothers Treasury C    0.50   12/20/2017    USD     0.26
Lehman Brothers Treasury C    0.50   12/20/2017    USD     0.26
Commerzbank AG                1.00    2/19/2020    USD    27.60
Leonteq Securities AG        10.00    4/20/2018    CHF    70.30
Leonteq Securities AG        11.00    4/20/2018    USD    69.65
Lehman Brothers Treasury C    8.60    7/31/2013    GBP     0.26
Lehman Brothers Treasury C    8.28    7/31/2013    GBP     0.26
Lehman Brothers Treasury C    7.50    7/31/2013    GBP     0.26
Lehman Brothers Treasury C    7.32    7/31/2013    GBP     0.26
Lehman Brothers Treasury C    4.00    12/2/2012    EUR     0.26
Lehman Brothers Treasury C    6.00    6/21/2011    EUR     0.26
Lehman Brothers Treasury C    2.00    6/21/2011    EUR     0.26
DekaBank Deutsche Girozent    3.15    5/18/2018    EUR    71.46
UBS AG                        9.00     7/3/2017    CHF    70.55
UBS AG                        4.50   12/22/2017    EUR    63.01
UBS AG                        5.00   12/22/2017    EUR    71.75
Credit Suisse AG/Nassau       5.25    5/14/2018    CHF    73.59
UniCredit Bank AG             4.10    9/28/2018    EUR    72.99
UBS AG/London                 9.00   12/22/2017    EUR    63.03
UBS AG/London                 7.75   12/22/2017    EUR    56.12
UniCredit Bank AG             4.25    9/12/2017    EUR    69.83
Leonteq Securities AG/Guer    4.68    8/29/2017    CHF    70.84
UBS AG/London                 7.00   12/22/2017    EUR    70.04
UBS AG/London                12.50   12/22/2017    EUR    74.54
UBS AG/London                 5.00   12/22/2017    EUR    70.85
UBS AG/London                14.50   12/22/2017    EUR    70.28
Leonteq Securities AG/Guer    4.40    8/28/2017    CHF    65.01
Raiffeisen Schweiz Genosse    5.04    8/28/2017    CHF    69.38
DekaBank Deutsche Girozent    3.30    2/26/2018    EUR    59.95
DekaBank Deutsche Girozent    3.45     6/1/2018    EUR    71.58
UniCredit Bank AG             4.00   10/14/2019    EUR    72.14
Leonteq Securities AG/Guer   16.20   11/30/2017    USD    41.71
Goldman Sachs & Co Wertpap   10.00    6/21/2017    EUR    71.69
Lehman Brothers Treasury C    7.00   10/22/2010    EUR     0.26
Lehman Brothers Treasury C   16.00    10/8/2008    CHF     0.26
Lehman Brothers Treasury C    4.00     1/4/2011    USD     0.26
Lehman Brothers Treasury C   10.00    2/16/2009    CHF     0.26
Lehman Brothers Treasury C    1.50   10/12/2010    EUR     0.26
Lehman Brothers Treasury C    2.50    11/9/2011    CHF     0.26
Lehman Brothers Treasury C    8.80   12/27/2009    EUR     0.26
Lehman Brothers Treasury C   18.25    10/2/2008    USD     0.26
UBS AG/London                 9.50     9/4/2017    CHF    24.15
Lehman Brothers Treasury C    3.00    8/13/2011    EUR     0.26
Lehman Brothers Treasury C    5.50   11/30/2012    CZK     0.26
Lehman Brothers Treasury C    9.30   12/21/2010    EUR     0.26
Lehman Brothers Treasury C    8.00   12/31/2010    USD     0.26
Lehman Brothers Treasury C    6.30   12/21/2018    USD     0.26
Lehman Brothers Treasury C   13.00    7/25/2012    EUR     0.26
Goldman Sachs & Co Wertpap   12.00    9/20/2017    EUR    67.53
Lehman Brothers Treasury C    8.00   10/23/2008    USD     0.26
Lehman Brothers Treasury C   12.22   11/21/2017    USD     0.26
Lehman Brothers Treasury C    3.50   12/20/2027    USD     0.26
Lehman Brothers Treasury C    6.00   10/30/2012    EUR     0.26
Lehman Brothers Treasury C   10.00     8/2/2037    JPY     0.26
Lehman Brothers Treasury C    4.00   10/12/2010    USD     0.26
Goldman Sachs & Co Wertpap   12.00    9/20/2017    EUR    65.40
Raiffeisen Centrobank AG      6.23   12/28/2018    EUR    74.64
Raiffeisen Centrobank AG      9.85   12/20/2017    EUR    72.93
Raiffeisen Centrobank AG     13.01   12/20/2017    EUR    69.71
Raiffeisen Centrobank AG      7.54   12/28/2018    EUR    69.43
UBS AG/London                17.90    6/30/2017    EUR    70.19
UBS AG/London                14.00    6/30/2017    EUR    73.55
UBS AG/London                14.30    9/29/2017    EUR    73.45
Raiffeisen Schweiz Genosse    3.00    9/22/2020    CHF    68.51
DekaBank Deutsche Girozent    3.00   12/17/2018    EUR    71.18
DZ Bank AG Deutsche Zentra    5.00     2/6/2018    EUR    71.94
Goldman Sachs Internationa    1.00    12/5/2017    SEK    20.68
HSBC Trinkaus & Burkhardt    11.00    8/25/2017    EUR    72.95
HSBC Trinkaus & Burkhardt    13.40    9/22/2017    EUR    70.88
HSBC Trinkaus & Burkhardt    12.10    3/23/2018    EUR    74.50
Leonteq Securities AG         3.00    9/19/2019    CHF    55.01
UniCredit Bank AG             5.00    6/25/2019    EUR    67.65
UniCredit Bank AG             3.75    10/2/2020    EUR    73.35
Landesbank Hessen-Thuering    4.00     4/8/2019    EUR    64.73
UniCredit Bank AG             4.60     7/2/2018    EUR    67.23
Leonteq Securities AG         7.00    9/20/2017    CHF    71.43
Landesbank Hessen-Thuering    5.00    3/27/2019    EUR    72.03
DekaBank Deutsche Girozent    7.15   10/27/2017    EUR    66.26
Vontobel Financial Product   14.00   12/22/2017    EUR    72.94
Vontobel Financial Product   13.00   12/22/2017    EUR    74.01
Commerzbank AG               15.50    8/23/2017    EUR    71.40
Vontobel Financial Product   13.50    9/22/2017    EUR    72.67
Vontobel Financial Product   16.05    9/22/2017    EUR    70.13
Vontobel Financial Product   12.00   12/22/2017    EUR    71.89
Vontobel Financial Product   16.00   12/22/2017    EUR    68.30
Vontobel Financial Product   20.00   12/22/2017    EUR    63.53
HSBC Trinkaus & Burkhardt    15.40    6/23/2017    EUR    73.48
UBS AG/London                 9.50    9/22/2017    EUR    60.96
UBS AG/London                12.50    9/22/2017    EUR    56.17
HSBC Trinkaus & Burkhardt    17.10    6/23/2017    EUR    51.32
HSBC Trinkaus & Burkhardt    12.70    9/22/2017    EUR    58.18
HSBC Trinkaus & Burkhardt    10.30    9/22/2017    EUR    62.34
HSBC Trinkaus & Burkhardt     7.50    9/22/2017    EUR    69.02
Goldman Sachs & Co Wertpap   14.00    9/20/2017    EUR    72.29
Societe Generale Effekten     9.62    6/23/2017    EUR    65.00
Societe Generale Effekten    11.68    6/23/2017    EUR    60.97
Goldman Sachs & Co Wertpap   11.00   12/20/2017    EUR    70.01
Goldman Sachs & Co Wertpap   11.00   12/20/2017    EUR    72.24
Goldman Sachs & Co Wertpap   16.00    6/21/2017    EUR    73.87
HSBC Trinkaus & Burkhardt     4.00    6/16/2017    EUR    66.28
Vontobel Financial Product    4.00    11/9/2017    EUR    68.66
Goldman Sachs & Co Wertpap   13.00   12/20/2017    EUR    72.62
Leonteq Securities AG         8.80    6/21/2017    CHF    71.67
Notenstein La Roche Privat    9.68    6/15/2017    CHF    71.08
SG Issuer SA                  0.80   11/30/2020    SEK    63.74
EFG International Finance     7.35   12/28/2017    CHF    73.73
Credit Suisse AG/Nassau       7.25    7/13/2017    CHF    67.52
DekaBank Deutsche Girozent    3.50   10/28/2019    EUR    73.83
Bank Julius Baer & Co Ltd/    5.50    11/6/2017    CHF    60.40
Commerzbank AG                5.80    10/8/2017    EUR    73.19
Raiffeisen Schweiz Genosse    4.50    3/27/2018    EUR    59.04
DekaBank Deutsche Girozent    3.25    5/18/2018    EUR    73.87
EFG International Finance     6.40     4/9/2020    EUR    74.43
Zurcher Kantonalbank Finan    6.50    4/10/2018    CHF    62.41
Landesbank Baden-Wuerttemb    4.20    6/23/2017    EUR    62.87
Landesbank Baden-Wuerttemb    3.00   10/27/2017    EUR    73.65
Landesbank Baden-Wuerttemb    5.00   10/27/2017    EUR    71.87
Landesbank Baden-Wuerttemb    5.00   10/27/2017    EUR    64.63
Landesbank Baden-Wuerttemb    4.00   10/27/2017    EUR    69.12
Landesbank Baden-Wuerttemb    4.60    6/23/2017    EUR    71.35
Landesbank Baden-Wuerttemb    3.25    7/28/2017    EUR    74.03
Landesbank Baden-Wuerttemb    3.90    7/28/2017    EUR    70.48
Landesbank Baden-Wuerttemb    3.25    7/28/2017    EUR    72.03
Landesbank Baden-Wuerttemb    3.55    8/25/2017    EUR    61.74
Landesbank Baden-Wuerttemb    3.75    9/22/2017    EUR    60.45
Landesbank Baden-Wuerttemb    3.90    9/22/2017    EUR    58.73
Landesbank Baden-Wuerttemb    3.20    9/22/2017    EUR    69.10
Landesbank Baden-Wuerttemb    3.85   10/27/2017    EUR    67.46
Landesbank Baden-Wuerttemb    3.40   11/24/2017    EUR    63.06
Landesbank Baden-Wuerttemb    3.00    6/28/2019    EUR    72.59
Landesbank Baden-Wuerttemb    2.50    6/28/2019    EUR    70.03
Landesbank Baden-Wuerttemb    3.00    6/28/2019    EUR    72.85
Landesbank Baden-Wuerttemb    3.50    6/22/2018    EUR    66.24
Landesbank Baden-Wuerttemb    4.00    8/25/2017    EUR    59.42
Landesbank Baden-Wuerttemb    3.00    9/28/2018    EUR    67.83
Landesbank Baden-Wuerttemb    3.75   10/27/2017    EUR    69.64
Landesbank Baden-Wuerttemb    3.25    8/25/2017    EUR    72.53
Landesbank Baden-Wuerttemb    3.00    6/28/2019    EUR    73.70
DekaBank Deutsche Girozent    3.25    4/20/2018    EUR    65.21
Raiffeisen Schweiz Genosse    4.00     5/8/2018    CHF    62.76
DekaBank Deutsche Girozent    2.75   10/29/2018    EUR    65.77
DekaBank Deutsche Girozent    3.00    4/30/2019    EUR    71.31
Landesbank Baden-Wuerttemb    3.55    8/25/2017    EUR    73.89
Landesbank Baden-Wuerttemb    3.60    6/22/2018    EUR    66.95
Raiffeisen Schweiz Genosse   15.00   12/27/2017    CHF    67.06
Credit Suisse AG/London       8.50    9/18/2017    USD    56.39
HSBC Trinkaus & Burkhardt     2.50    9/22/2017    EUR    71.02
Leonteq Securities AG        10.20   10/24/2018    EUR    64.85
Landesbank Baden-Wuerttemb    4.00    6/23/2017    EUR    68.13
Credit Suisse AG/Nassau       6.38    6/12/2017    EUR    62.91
Raiffeisen Schweiz Genosse    6.50    6/26/2017    EUR    68.42
Landesbank Baden-Wuerttemb    3.00    8/25/2017    EUR    72.75
Landesbank Baden-Wuerttemb    5.00    8/25/2017    EUR    64.37
EFG International Finance     7.20    7/29/2020    EUR    28.91
Goldman Sachs & Co Wertpap   12.00    6/21/2017    EUR    52.08
Landesbank Baden-Wuerttemb    4.00    8/25/2017    EUR    68.02
Credit Suisse AG/Nassau       5.50     8/3/2017    EUR    74.13
Commerzbank AG               11.50    7/26/2017    EUR    55.24
Goldman Sachs & Co Wertpap   12.00    6/21/2017    EUR    72.99
UBS AG/London                 7.00    6/26/2017    EUR    65.30
Landesbank Baden-Wuerttemb    3.70    7/27/2018    EUR    74.29
Zurcher Kantonalbank Finan    9.00    7/17/2017    EUR    73.02
UBS AG/London                 7.50     7/3/2017    EUR    62.15
Goldman Sachs & Co Wertpap   14.00    6/21/2017    EUR    73.50
Goldman Sachs & Co Wertpap   13.00    6/21/2017    EUR    70.52
Goldman Sachs & Co Wertpap    7.00    6/21/2017    EUR    71.51
Goldman Sachs & Co Wertpap   10.00    6/21/2017    EUR    62.22
Goldman Sachs & Co Wertpap   13.00    6/21/2017    EUR    58.46
Goldman Sachs & Co Wertpap   13.00    6/21/2017    EUR    71.53
UBS AG/London                 9.25    6/26/2017    CHF    65.05
EFG International Finance     7.20    6/26/2017    GBP     2.90
Zurcher Kantonalbank Finan    8.50    7/17/2017    CHF    59.93
Banque Cantonale Vaudoise     7.25     7/3/2017    CHF    56.78
SAir Group                    2.13    11/4/2004    CHF    13.63
Goldman Sachs & Co Wertpap   11.00    6/21/2017    EUR    73.69
UBS AG/London                 6.40    12/8/2017    EUR    62.59
UBS AG/London                 9.60    12/8/2017    EUR    57.29
Credit Suisse AG/Nassau       7.25    6/14/2017    CHF    64.91
HSBC Trinkaus & Burkhardt     6.50    1/29/2018    EUR    66.95
HSBC Trinkaus & Burkhardt     8.40    9/22/2017    EUR    59.18
HSBC Trinkaus & Burkhardt     4.80    9/22/2017    EUR    66.51
HSBC Trinkaus & Burkhardt     3.00    9/22/2017    EUR    73.11
UBS AG                       24.10    9/28/2017    EUR    68.70
UBS AG/London                 6.00    10/5/2017    CHF    50.65
EFG International Finance    17.00     8/3/2018    USD    72.06
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    54.18
BNP Paribas Emissions- und   26.00   12/21/2017    EUR    67.25
BNP Paribas Emissions- und   24.00    6/22/2017    EUR    71.64
BNP Paribas Emissions- und   26.00   12/21/2017    EUR    67.22
BNP Paribas Emissions- und   29.00    6/22/2017    EUR    68.41
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    56.88
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    68.03
BNP Paribas Emissions- und   19.00    6/22/2017    EUR    68.90
BNP Paribas Emissions- und   28.00    6/22/2017    EUR    55.88
BNP Paribas Emissions- und   26.00   12/21/2017    EUR    64.43
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    71.95
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    67.20
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    71.88
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    66.88
BNP Paribas Emissions- und   24.00   12/21/2017    EUR    67.89
BNP Paribas Emissions- und   26.00   12/21/2017    EUR    64.82
BNP Paribas Emissions- und   29.00   12/21/2017    EUR    60.39
BNP Paribas Emissions- und   23.00   12/21/2017    EUR    61.55
BNP Paribas Emissions- und   29.00    6/22/2017    EUR    72.47
BNP Paribas Emissions- und   29.00   12/21/2017    EUR    69.48
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    69.38
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    68.89
BNP Paribas Emissions- und   22.00   12/21/2017    EUR    61.37
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    55.26
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    66.01
BNP Paribas Emissions- und   16.00    6/22/2017    EUR    74.60
BNP Paribas Emissions- und   28.00    6/22/2017    EUR    56.91
BNP Paribas Emissions- und   22.00   12/21/2017    EUR    66.17
BNP Paribas Emissions- und   25.00    6/22/2017    EUR    72.32
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    72.22
BNP Paribas Emissions- und   28.00    6/22/2017    EUR    63.35
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    66.85
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    61.93
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    70.45
BNP Paribas Emissions- und   29.00   12/21/2017    EUR    63.98
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    72.80
BNP Paribas Emissions- und   24.00    6/22/2017    EUR    73.78
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    66.16
BNP Paribas Emissions- und   26.00   12/21/2017    EUR    73.58
BNP Paribas Emissions- und   27.00    6/22/2017    EUR    74.12
BNP Paribas Emissions- und   26.00   12/21/2017    EUR    72.38
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    70.26
BNP Paribas Emissions- und    6.00    6/22/2017    EUR    54.74
BNP Paribas Emissions- und   18.00    6/22/2017    EUR    35.44
BNP Paribas Emissions- und   21.00    6/22/2017    EUR    32.35
BNP Paribas Emissions- und    6.00   12/21/2017    EUR    57.46
BNP Paribas Emissions- und   10.00   12/21/2017    EUR    48.90
BNP Paribas Emissions- und   13.00   12/21/2017    EUR    44.40
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    35.66
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    67.59
BNP Paribas Emissions- und   28.00    6/22/2017    EUR    70.73
BNP Paribas Emissions- und   24.00    6/22/2017    EUR    69.24
BNP Paribas Emissions- und   27.00    6/22/2017    EUR    64.40
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    65.16
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    58.71
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    56.42
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    74.54
BNP Paribas Emissions- und   13.00    6/22/2017    EUR    61.48
BNP Paribas Emissions- und   25.00    6/22/2017    EUR    39.06
BNP Paribas Emissions- und   15.00   12/21/2017    EUR    58.40
BNP Paribas Emissions- und   19.00   12/21/2017    EUR    50.85
BNP Paribas Emissions- und   22.00   12/21/2017    EUR    46.82
BNP Paribas Emissions- und   25.00   12/21/2017    EUR    44.21
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    42.41
BNP Paribas Emissions- und   25.00    6/22/2017    EUR    73.04
BNP Paribas Emissions- und   27.00    6/22/2017    EUR    69.41
BNP Paribas Emissions- und   25.00    6/22/2017    EUR    55.06
BNP Paribas Emissions- und   13.00   12/21/2017    EUR    74.44
BNP Paribas Emissions- und   19.00   12/21/2017    EUR    64.24
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    53.96
BNP Paribas Emissions- und   16.00    6/22/2017    EUR    67.91
BNP Paribas Emissions- und   13.00    6/22/2017    EUR    67.11
BNP Paribas Emissions- und   19.00    6/22/2017    EUR    56.42
BNP Paribas Emissions- und   28.00   12/21/2017    EUR    48.86
BNP Paribas Emissions- und   25.00    6/22/2017    EUR    63.58
BNP Paribas Emissions- und   27.00    6/22/2017    EUR    60.05
BNP Paribas Emissions- und   19.00   12/21/2017    EUR    72.76
BNP Paribas Emissions- und   22.00   12/21/2017    EUR    67.54
BNP Paribas Emissions- und   27.00   12/21/2017    EUR    60.30
Lloyds Bank PLC               0.50    7/26/2028    MXN    43.41
HSBC Bank PLC                 0.50     6/9/2023    MXN    60.49
Polski Bank Spoldzielczy w    4.81   11/26/2024    PLN    45.00
DZ Bank AG Deutsche Zentra   11.50    6/23/2017    EUR    55.16
Commerzbank AG                3.51    5/31/2019    EUR     3.50
HSBC Trinkaus & Burkhardt    11.70    6/23/2017    EUR    60.08
HSBC Trinkaus & Burkhardt     8.70    6/23/2017    EUR    67.47
Polski Bank Spoldzielczy w    4.81    6/22/2021    PLN    55.00
Lehman Brothers Treasury C    7.05     4/8/2015    USD     0.26
Lehman Brothers Treasury C    7.80    3/31/2018    USD     0.26
Lehman Brothers Treasury C   10.00   10/23/2008    USD     0.26
Lehman Brothers Treasury C   10.00   10/22/2008    USD     0.26
Lehman Brothers Treasury C    3.45    5/23/2013    USD     0.26
Lehman Brothers Treasury C   13.15   10/30/2008    USD     0.26
Lehman Brothers Treasury C    7.50    5/30/2010    AUD     0.26
Lehman Brothers Treasury C   11.00     5/9/2020    USD     0.26
Lehman Brothers Treasury C    4.00     6/5/2011    USD     0.26
Lehman Brothers Treasury C    5.00    2/15/2018    EUR     0.26
Lehman Brothers Treasury C    9.00     5/6/2011    CHF     0.26
Lehman Brothers Treasury C   10.60    4/22/2014    MXN     0.26
Lehman Brothers Treasury C    9.75    6/22/2018    USD     0.26
Lehman Brothers Treasury C    4.60     8/1/2013    EUR     0.26
Lehman Brothers Treasury C   10.44   11/22/2008    CHF     0.26
Lehman Brothers Treasury C    3.00     6/3/2010    EUR     0.26
Lehman Brothers Treasury C   12.40    6/12/2009    USD     0.26
Lehman Brothers Treasury C   13.43     1/8/2009    ILS     0.26
Lehman Brothers Treasury C    7.75     1/3/2012    AUD     0.26
Lehman Brothers Treasury C    3.10     6/4/2010    USD     0.26
Lehman Brothers Treasury C    2.50    8/15/2012    CHF     0.26
Lehman Brothers Treasury C    6.00     8/7/2013    EUR     0.26
Lehman Brothers Treasury C    6.25     9/5/2011    EUR     0.26
Lehman Brothers Treasury C   16.80    8/21/2009    USD     0.26
Lehman Brothers Treasury C    5.25     7/8/2014    EUR     0.26
Lehman Brothers Treasury C    4.00    8/11/2010    USD     9.13
Lehman Brothers Treasury C    2.30     6/6/2013    USD     0.26
Lehman Brothers Treasury C    1.00     5/9/2012    EUR     0.26
Lehman Brothers Treasury C   10.00    5/22/2009    USD     0.26
Lehman Brothers Treasury C   13.50     6/2/2009    USD     0.26
Lehman Brothers Treasury C    0.50     6/2/2020    EUR     0.26
Lehman Brothers Treasury C   11.00     7/4/2011    USD     0.26
Lehman Brothers Treasury C   11.00     7/4/2011    CHF     0.26
Lehman Brothers Treasury C   16.00   12/26/2008    USD     0.26
Raiffeisen Switzerland BV     3.50    8/25/2017    CHF    67.62
Commerzbank AG                7.25   10/26/2017    EUR    72.31
Commerzbank AG               14.25   10/26/2017    EUR    61.47
Vontobel Financial Product    3.00    6/13/2017    EUR    57.88
Lehman Brothers Treasury C    1.50     2/8/2012    CHF     0.26
HSBC Trinkaus & Burkhardt     4.30    6/23/2017    EUR    68.94
HSBC Trinkaus & Burkhardt     9.60    6/23/2017    EUR    54.81
Kaupthing ehf                 9.75    9/10/2015    USD    17.63
Lehman Brothers Treasury C    4.10    8/23/2010    USD     0.26
Lehman Brothers Treasury C    7.75    2/21/2016    EUR     0.26
Lehman Brothers Treasury C    8.00   12/27/2032    JPY     0.26
Goldman Sachs & Co Wertpap   10.00    6/21/2017    EUR    73.53
Goldman Sachs & Co Wertpap   11.00    6/21/2017    EUR    73.68
Lehman Brothers Treasury C    7.25    6/20/2010    USD     0.26
Erste Group Bank AG           9.25    6/29/2017    EUR    51.20
Credit Suisse AG/London       8.95     6/6/2017    USD    53.97
Lehman Brothers Treasury C    6.00     3/4/2015    USD     0.26
Lehman Brothers Treasury C    7.15    3/21/2013    USD     0.26
Lehman Brothers Treasury C    7.50    2/14/2010    AUD     0.26
Lehman Brothers Treasury C    6.60    5/23/2012    AUD     0.26
Lehman Brothers Treasury C    3.00    9/12/2036    JPY     9.13
Lehman Brothers Treasury C    4.82   12/18/2036    EUR     0.26
Lehman Brothers Treasury C    5.25     4/1/2023    EUR     0.26
Lehman Brothers Treasury C   13.00   12/14/2012    USD     0.26
UBS AG/London                 6.30   12/29/2017    EUR    65.69
UBS AG                       10.25   12/22/2017    EUR    57.11
UBS AG                       13.00   12/22/2017    EUR    67.66
UBS AG                        6.75   12/22/2017    EUR    59.33
UBS AG                        7.75   12/22/2017    EUR    62.97
UBS AG                       10.50   12/22/2017    EUR    58.30
UBS AG                        6.25   12/22/2017    EUR    58.89
Vontobel Financial Product   18.40    9/11/2017    EUR    66.00
Deutsche Bank AG              6.20    6/20/2017    EUR    75.10
Deutsche Bank AG              6.20    6/20/2017    EUR    74.00
Raiffeisen Schweiz Genosse    4.20    4/10/2018    EUR    60.70
Raiffeisen Switzerland BV     9.00     4/1/2019    EUR    21.43
DZ Bank AG Deutsche Zentra    9.00    6/23/2017    EUR    58.08
DZ Bank AG Deutsche Zentra    8.70   12/22/2017    EUR    62.37
DZ Bank AG Deutsche Zentra   10.10   12/22/2017    EUR    59.28
DZ Bank AG Deutsche Zentra    9.25    7/28/2017    EUR    58.33
UBS AG/London                10.00    6/23/2017    EUR    58.68
UBS AG/London                13.50    6/23/2017    EUR    53.16
Landesbank Baden-Wuerttemb    3.40    7/27/2018    EUR    70.47
Landesbank Baden-Wuerttemb    5.50    6/23/2017    EUR    67.37
Landesbank Baden-Wuerttemb    4.50    6/23/2017    EUR    71.63
Landesbank Baden-Wuerttemb    3.00    6/23/2017    EUR    72.53
Landesbank Baden-Wuerttemb    5.00    6/23/2017    EUR    64.39
Norddeutsche Landesbank Gi    3.00    7/16/2018    EUR    74.24
Lehman Brothers Treasury C   11.00    2/16/2009    CHF     0.26
Lehman Brothers Treasury C   13.00    2/16/2009    CHF     0.26
Lehman Brothers Treasury C    7.00    2/15/2010    CHF     0.26
UBS AG                       11.25   12/22/2017    EUR    71.79
UBS AG                       10.50   12/22/2017    EUR    52.09
Lehman Brothers Treasury C    7.06   12/29/2008    EUR     0.26
Lehman Brothers Treasury C    6.60     2/9/2009    EUR     0.26
Lehman Brothers Treasury C    8.88    1/28/2011    HKD     9.63
Kaupthing ehf                 7.00    7/24/2009    ISK    17.63
Lehman Brothers Treasury C    4.05    9/16/2008    EUR     0.26
Lehman Brothers Treasury C    5.00    3/13/2009    EUR     0.26
Lehman Brothers Treasury C    4.25    3/13/2021    EUR     0.26
AKB Derzhava OJSC            11.25    7/10/2023    RUB    90.06
HSBC Trinkaus & Burkhardt     5.40    9/22/2017    EUR    70.10
Lehman Brothers Treasury C    8.05   12/20/2010    HKD     0.26
Royal Bank of Scotland PLC    6.20     9/7/2018    GBP     1.07
Royal Bank of Scotland PLC    1.33   10/26/2018    GBP     1.06
Kaupthing ehf                 6.50    10/8/2010    ISK    17.63
Kaupthing ehf                 7.50    12/5/2014    ISK    17.63
Lehman Brothers Treasury C    2.30    6/27/2013    USD     0.26
Lehman Brothers Treasury C    2.37    7/15/2013    USD     0.26
Lehman Brothers Treasury C    1.95    11/4/2013    EUR     0.26
Lehman Brothers Treasury C    5.22     3/1/2024    EUR     0.26
Lehman Brothers Treasury C    4.00    2/28/2010    EUR     0.26
Lehman Brothers Treasury C    4.10    5/20/2009    USD     0.26
Lehman Brothers Treasury C    2.00    5/17/2010    EUR     0.26
Lehman Brothers Treasury C    2.75   10/28/2009    EUR     0.26
Lehman Brothers Treasury C    4.50   12/30/2010    USD     0.26
Lehman Brothers Treasury C    7.00    7/11/2010    EUR     0.26
Lehman Brothers Treasury C    5.00     8/1/2025    EUR     0.26
Lehman Brothers Treasury C    4.90    7/28/2020    EUR     0.26
Lehman Brothers Treasury C    4.15    8/25/2020    EUR     0.26
Lehman Brothers Treasury C    6.00    12/6/2016    USD     0.26
Lehman Brothers Treasury C    6.50    5/16/2015    EUR     0.26
Lehman Brothers Treasury C    3.00     8/8/2017    EUR     0.26
Lehman Brothers Treasury C    5.00     9/1/2011    EUR     0.26
Lehman Brothers Treasury C    3.50    9/19/2017    EUR     0.26
Lehman Brothers Treasury C    6.00    7/28/2010    EUR     0.26
Lehman Brothers Treasury C    3.50    9/29/2017    EUR     0.26
Lehman Brothers Treasury C    2.40    6/20/2011    JPY     0.26
Lehman Brothers Treasury C    1.60    6/21/2010    JPY     0.26
OOO SPV Structural Investm    0.01     9/1/2023    RUB    64.96
HSBC Trinkaus & Burkhardt    18.40    6/23/2017    EUR    63.34
HSBC Trinkaus & Burkhardt    13.80   12/22/2017    EUR    69.55
HSBC Trinkaus & Burkhardt    11.90   12/22/2017    EUR    71.54
HSBC Trinkaus & Burkhardt    10.70    8/25/2017    EUR    71.04
HSBC Trinkaus & Burkhardt    10.20   11/24/2017    EUR    73.22
DZ Bank AG Deutsche Zentra    9.20    6/23/2017    EUR    71.09
HSBC Trinkaus & Burkhardt    19.00    6/23/2017    EUR    71.76
BNP Paribas Emissions- und   16.00   12/21/2017    EUR    73.76
BNP Paribas Emissions- und   16.00    6/22/2017    EUR    73.62
BNP Paribas Emissions- und   15.00   10/26/2017    EUR    74.21
BNP Paribas Emissions- und   19.00   10/26/2017    EUR    72.84
BNP Paribas Emissions- und   21.00    6/22/2017    EUR    69.80
BNP Paribas Emissions- und   25.00    6/22/2017    EUR    66.60
BNP Paribas Emissions- und   19.00    9/21/2017    EUR    70.73
BNP Paribas Emissions- und   16.00   12/21/2017    EUR    62.31
BNP Paribas Emissions- und   18.00   12/21/2017    EUR    60.30
BNP Paribas Emissions- und    9.00    6/22/2017    EUR    69.20
BNP Paribas Emissions- und    9.00    9/21/2017    EUR    71.38
BNP Paribas Emissions- und   10.00    9/21/2017    EUR    68.31
BNP Paribas Emissions- und   12.00    9/21/2017    EUR    63.07
BNP Paribas Emissions- und   10.00   12/21/2017    EUR    70.42
Commerzbank AG               16.25   12/21/2017    EUR    73.79
UBS AG/London                 9.90    9/22/2017    EUR    71.71
HSBC Trinkaus & Burkhardt    13.40   12/22/2017    EUR    74.03
BNP Paribas Emissions- und   15.00   12/21/2017    EUR    65.55
BNP Paribas Emissions- und   19.00   12/21/2017    EUR    58.86
BNP Paribas Emissions- und   16.00    6/22/2017    EUR    55.52
BNP Paribas Emissions- und   12.00   12/21/2017    EUR    65.71
BNP Paribas Emissions- und   16.00    9/21/2017    EUR    57.02
BNP Paribas Emissions- und    9.00   12/21/2017    EUR    73.18
Commerzbank AG               15.50    9/20/2017    EUR    71.28
Raiffeisen Schweiz Genosse    6.50    7/11/2017    CHF    71.22
Raiffeisen Schweiz Genosse    6.00    7/11/2017    CHF    69.42
Bank Julius Baer & Co Ltd/    7.85    7/28/2017    USD    46.30
UBS AG/London                14.50    7/20/2017    USD    55.50
HSBC Trinkaus & Burkhardt     9.50    6/23/2017    EUR    57.36
HSBC Trinkaus & Burkhardt     5.50    6/23/2017    EUR    65.59
Commerzbank AG                4.00    7/19/2017    EUR    59.37
Leonteq Securities AG        20.00   10/25/2017    CHF    65.18
Vontobel Financial Product   11.75     6/9/2017    EUR    71.40
Commerzbank AG                7.00    7/27/2017    EUR    64.49
Commerzbank AG               10.25    7/27/2017    EUR    57.97
Commerzbank AG               14.25    7/27/2017    EUR    52.97
Vontobel Financial Product   16.00   12/22/2017    EUR    72.51
Vontobel Financial Product   14.50    3/23/2018    EUR    73.97
Deutsche Bank AG              5.20    7/26/2017    EUR    73.10
Deutsche Bank AG              7.20    7/26/2017    EUR    73.40
Deutsche Bank AG              9.20    7/26/2017    EUR    73.80
Zurcher Kantonalbank Finan    4.75   12/11/2017    CHF    72.85
Commerzbank AG               15.50    6/22/2017    EUR    53.23
Commerzbank AG                8.25    6/22/2017    EUR    65.84
Commerzbank AG               11.50    6/22/2017    EUR    58.77
Norddeutsche Landesbank Gi    3.00   10/30/2018    EUR    70.13
UBS AG/London                 3.81   10/28/2017    USD    67.75
Leonteq Securities AG         7.00    11/6/2017    CHF    42.97
Goldman Sachs & Co Wertpap   16.00    6/21/2017    EUR    68.76
Leonteq Securities AG         5.20    8/14/2018    CHF    73.98
Leonteq Securities AG         6.00    5/22/2018    EUR
DekaBank Deutsche Girozent    2.80    5/13/2019    EUR    66.39
Leonteq Securities AG         6.00   11/21/2017    CHF
Leonteq Securities AG         9.92    5/29/2017    EUR    64.28
HSBC Bank PLC                 0.50    2/24/2027    NZD    69.37
Credit Suisse AG              0.50   12/16/2025    BRL    45.11
Kommunalbanken AS             0.50   12/16/2020    TRY    69.67
Eiendomskreditt               4.26                 NOK    54.82
HSBC Bank PLC                 0.50   12/22/2025    BRL    42.63
Barclays Bank PLC             1.99    12/1/2040    USD    72.95
HSBC Bank PLC                 0.50    12/8/2026    AUD    71.74
T-Generation CJSC            12.00    6/14/2019    RUB    99.20
Univer Capital LLC           12.00     3/6/2019    RUB    59.00
Banca Popolare di Vicenza     1.60    1/16/2020    EUR    68.26
National Capital JSC          9.25    4/22/2019    RUB   100.00
Vegarshei Sparebank           4.99                 NOK    71.81
Banca Popolare di Vicenza     1.60     1/9/2020    EUR    68.07
Vontobel Financial Product    4.65    7/24/2017    EUR    69.20
UBS AG/London                 7.00    7/17/2017    CHF    55.70
Raiffeisen Schweiz Genosse    6.70    7/24/2017    EUR    71.16
Exane Finance SA              5.00   12/20/2019    SEK
Main Road OJSC                4.10   10/30/2029    RUB    84.84
Polski Bank Spoldzielczy w    5.31    9/14/2027    PLN    55.01
Lehman Brothers Treasury C    3.63     3/2/2012    EUR     0.26
Lehman Brothers Treasury C    0.75    3/29/2012    EUR     0.26
Lehman Brothers Treasury C    6.00    3/17/2011    EUR     0.26
Lehman Brothers Treasury C    4.70    3/23/2016    EUR     0.26
Lehman Brothers Treasury C    8.00    4/20/2009    EUR     0.26
Lehman Brothers Treasury C    5.25    5/26/2026    EUR     0.26
Lehman Brothers Treasury C    3.70     6/6/2009    EUR     0.26
Lehman Brothers Treasury C    4.50     8/2/2009    USD     0.26
Lehman Brothers Treasury C    6.00    2/14/2012    EUR     0.26
Lehman Brothers Treasury C    7.00    2/15/2012    EUR     0.26
Lehman Brothers Treasury C   15.00    3/30/2011    EUR     0.26
Lehman Brothers Treasury C    4.69    2/19/2017    EUR     0.26
Lehman Brothers Treasury C    4.10    2/19/2010    EUR     0.26
Lehman Brothers Treasury C    5.20    3/19/2018    EUR     0.26
Lehman Brothers Treasury C    3.50   10/31/2011    USD     0.26
Lehman Brothers Treasury C    3.50   10/24/2011    USD     0.26
Lehman Brothers Treasury C    0.25   10/19/2012    CHF     0.26
Lehman Brothers Treasury C    1.68     3/5/2015    EUR     0.26
Lehman Brothers Treasury C    9.00    5/15/2022    USD     0.26
Lehman Brothers Treasury C    6.00    5/12/2017    EUR     0.26
Lehman Brothers Treasury C    6.60    2/22/2012    EUR     0.26
Lehman Brothers Treasury C    5.00    2/28/2032    EUR     0.26
Lehman Brothers Treasury C    3.85    4/24/2009    USD     0.26
Lehman Brothers Treasury C   10.50     8/9/2010    EUR     0.26
Lehman Brothers Treasury C    0.25    7/21/2014    EUR     0.26
Lehman Brothers Treasury C    4.95   10/25/2036    EUR     0.26
Lehman Brothers Treasury C    4.00   11/24/2016    EUR     0.26
Lehman Brothers Treasury C    4.00    4/24/2009    USD     0.26
Lehman Brothers Treasury C    9.00    6/13/2009    USD     0.26
Lehman Brothers Treasury C    9.00    3/17/2009    GBP     0.26
Lehman Brothers Treasury C    7.00   11/28/2008    CHF     0.26
Lehman Brothers Treasury C    7.38    9/20/2008    EUR     0.26
Lehman Brothers Treasury C    8.00    5/22/2009    USD     0.26
Lehman Brothers Treasury C    4.50    7/24/2014    EUR     0.26
Lehman Brothers Treasury C    5.75    6/15/2009    CHF     0.26
Lehman Brothers Treasury C    7.50   10/24/2008    USD     0.26
Lehman Brothers Treasury C   10.00    3/27/2009    USD     0.26
Lehman Brothers Treasury C    7.75    1/30/2009    EUR     0.26
Lehman Brothers Treasury C    8.00     8/3/2009    USD     0.26
Lehman Brothers Treasury C    5.50    6/15/2009    CHF     0.26
Lehman Brothers Treasury C    4.00   10/24/2012    EUR     0.26
Lehman Brothers Treasury C    2.50   12/15/2011    GBP     0.26
Lehman Brothers Treasury C    8.50     7/6/2009    CHF     0.26
Lehman Brothers Treasury C    7.50    9/13/2009    CHF     0.26
Lehman Brothers Treasury C    6.50    7/24/2026    EUR     0.26
Lehman Brothers Treasury C    4.05    9/16/2008    EUR     0.26
Lehman Brothers Treasury C    8.28    3/26/2009    USD     0.26
DZ Bank AG Deutsche Zentra    8.30    9/22/2017    EUR    58.80
HSBC Trinkaus & Burkhardt     1.75    8/25/2017    EUR    68.05
HSBC Trinkaus & Burkhardt     7.90    9/22/2017    EUR    64.40
Raiffeisen Switzerland BV    22.20     9/1/2017    USD    69.25
Landesbank Baden-Wuerttemb    3.85    8/25/2017    EUR    71.69
Commerzbank AG               20.00    5/28/2018    SEK    52.71
BNP Paribas Emissions- und    6.00   10/26/2017    EUR    67.34
BNP Paribas Emissions- und   13.00   10/26/2017    EUR    57.29
BNP Paribas Emissions- und    6.00   12/21/2017    EUR    68.18
BNP Paribas Emissions- und   13.00   12/21/2017    EUR    57.22
BNP Paribas Emissions- und    8.00    6/22/2017    EUR    65.61
BNP Paribas Emissions- und   16.00    6/22/2017    EUR    53.35
BNP Paribas Emissions- und   13.00   10/26/2017    EUR    74.72
BNP Paribas Emissions- und   16.00    6/22/2017    EUR    68.45
BNP Paribas Emissions- und   13.00    9/21/2017    EUR    71.50
BNP Paribas Emissions- und   13.00   10/26/2017    EUR    72.53
BNP Paribas Emissions- und   16.00    9/21/2017    EUR    55.02
BNP Paribas Emissions- und    5.00   10/26/2017    EUR    70.55
BNP Paribas Emissions- und    5.00   12/21/2017    EUR    70.95
BNP Paribas Emissions- und   19.00    6/22/2017    EUR    51.22
BNP Paribas Emissions- und    6.00    9/21/2017    EUR    66.83
BNP Paribas Emissions- und   12.00    6/22/2017    EUR    72.10
BNP Paribas Emissions- und    9.00   10/26/2017    EUR    62.94
BNP Paribas Emissions- und    9.00   12/21/2017    EUR    64.03
BNP Paribas Emissions- und    5.00    9/21/2017    EUR    69.87
BNP Paribas Emissions- und    9.00    9/21/2017    EUR    61.91
BNP Paribas Emissions- und   13.00    9/21/2017    EUR    56.30
BNP Paribas Emissions- und   22.00    6/22/2017    EUR    70.86
Lehman Brothers Treasury C   10.00     1/4/2010    USD     0.26
Lehman Brothers Treasury C    0.50    2/16/2009    EUR     0.26
Lehman Brothers Treasury C    7.60    3/26/2009    EUR     0.26
Lehman Brothers Treasury C    7.55   12/29/2008    USD     0.26
UBS AG/London                 7.00    9/22/2017    EUR    67.34
UBS AG/London                11.60   12/29/2017    EUR    59.06
UBS AG/London                13.00    9/27/2017    EUR    56.51
UBS AG/London                 5.30   12/29/2017    EUR    68.13
Lehman Brothers Treasury C    5.38     2/4/2014    USD     0.26
Lehman Brothers Treasury C    3.50    6/20/2011    EUR     0.26
Lehman Brothers Treasury C    4.20    12/3/2008    HKD     9.63
Societe Generale SA           0.50     4/4/2024    MXN    56.34
YamalStroiInvest             14.25    4/24/2021    RUB    65.70
Societe Generale SA           0.50    4/30/2023    RUB    63.74
Veneto Banca SpA              2.40     4/7/2020    EUR    71.30
Veneto Banca SpA              2.40     4/1/2020    EUR    71.44
Veneto Banca SpA              2.40     4/2/2020    EUR    71.42
Barclays Bank PLC             1.64     6/3/2041    USD    74.01
Societe Generale SA           0.50     7/6/2021    BRL    67.89
HSBC Bank PLC                 0.50    4/27/2027    NZD    68.85
Banca Nazionale del Lavoro    1.68    6/15/2037    EUR    75.15
Eiendomskreditt               5.21                 NOK    65.50
Lehman Brothers Treasury C    4.50     3/7/2015    EUR     0.26



                            *********

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 Joseph Cardillo at
856-381-8268.


                 * * * End of Transmission * * *