TCREUR_Public/170703.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Monday, July 3, 2017, Vol. 18, No. 130


                            Headlines


A U S T R I A

HETA ASSET: To Make EUR5.8-Bil. Payout to Bondholders This Month
HETA ASSET: July 24 EOI Deadline Set for Skiper, X-Y Turist


F R A N C E

WFS GLOBAL: S&P Affirms 'B-' CCR & Revises Outlook to Stable


I R E L A N D

BLUEMOUNTAIN FUJI: S&P Assigns 'B-' Rating to Class F Notes
DECOBAKE: Faces Liquidation Following Debt Default
WEATHERFORD INTERNATIONAL: Offering $250 Million of Senior Notes


I T A L Y

BANCA POPOLARE: Italy's Finance Minister Defends Wind-Down


N E T H E R L A N D S

NEPTUNO CLO I: S&P Raises Ratings on Two Note Classes to B+


S P A I N

BFA TENEDORA: S&P Affirms 'BB+/B' Counterparty Credit Ratings


U N I T E D   K I N G D O M

ANNINGTON HOMES: S&P Puts 'CCC+' CCR on CreditWatch Positive
CASTELL 2017-1: DBRS Puts BB Provisional Rating to Cl. E, F Debts
CO-OP BANK: Hedge Fund Rescue Raises Questions on Ethical Stance
EXPRO HOLDINGS: S&P Affirms 'CCC+' CCR, Outlook Negative
HEBRIDEAN SEA: Faces Liquidation Following Salt Probe


X X X X X X X X

* BOND PRICING: For the Week June 26 to June 30, 2017


                            *********


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A U S T R I A
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HETA ASSET: To Make EUR5.8-Bil. Payout to Bondholders This Month
----------------------------------------------------------------
Francois Murphy, Shadia Nasralla and Kirsti Knolle at Reuters
report that Austria's Heta Asset Resolution on June 30 said it
will make a larger-than-expected first payout to senior
bondholders of EUR5.8 billion (US$6.6 billion) this month.

Heta is the bad bank set up by the government to wind down
collapsed slender Hypo Alpe Adria, Reuters notes.

"Roughly EUR5.8 billion are expected to be paid in the second
half of July . . . to creditors holding qualifying bonds,"
Reuters quotes Heta as saying in a statement, referring to senior
bondholders.

Austria's Financial Market Authority (FMA), which is overseeing
the wind-down, had expected an initial payout of EUR4 billion,
according to Reuters.

The FMA expects Heta's assets to yield EUR8.6 billion by the time
the wind-down is completed in 2023, Reuters relays.

The collapse of Hypo Alpe Adria left the province of Carinthia
liable for EUR11 billion in guarantees it had made on the face
value of Hypo's bonds, Reuters recounts.

Heta Asset Resolution AG is a wind-down company owned by the
Republic of Austria.  Its statutory task is to dispose of the
non-performing portion of Hypo Alpe Adria, nationalized in 2009,
as effectively as possible while preserving value.


HETA ASSET: July 24 EOI Deadline Set for Skiper, X-Y Turist
-----------------------------------------------------------
HETA ASSET RESOLUTION AG ("HETA"), an Austrian stock company
fully owned by the Republic of Austria, holds 75% of shares in
Rezidencija Skiper d.o.o., a limited liability company
established under the laws of Croatia ("Skiper") and HETA's
direct subsidiary HETA BETEILIGUNGEN GMBH ("HBEG") holds 25% of
shares in Skiper.  HBEG is the sole shareholder of X-Turist
d.o.o. and Y-Turist d.o.o., both limited liability companies
established under the laws of Croatia (collectively "X-Y
Turist").

Skiper and X-Y Turist ("the Companies") own and operate
hospitality and tourism assets in Savudrija, Croatia comprising,
inter alia, a branded luxury hotel (including conference
facilities), unfurnished luxury villas & apartments and furnished
mid-market to upper-market level apartments as well as an 18-hole
golf course.

HETA and HBEG intend to:

(i) divest all shares in Skiper (including their respective
indirect interest in Skiper's subsidiaries Skiper Hoteli d.o.o.,
Skiper Operacije d.o.o. and Kemco d.o.o. -- limited liability
companies established under the laws of Croatia); and

(ii) transfer their respective loan receivables under certain
loans granted to Skiper and Skiper Hoteli d.o.o. (collectively,
"Transaction 1").

Furthermore, HBEG intends to divest all of its shares in X-Y
Turist ("Transaction 2").

By this request for EOI's, HETA and HBEG are commencing an open,
transparent and nondiscriminatory sales process regarding
Transaction 1 and Transaction 2 (the "Sales Process").
Transaction 1 and Transaction 2 will be treated as separate
transactions and interested parties will be required to submit
separate bids for Transaction 1 and Transaction 2.

Jones Lang LaSalle ("JLL") is acting as HETA's and HBEG's
exclusive financial advisor in this Sales Process.  Any party
interested in participating in the Sales Process (each an
"Interested Party") is asked to submit an EOI to JLL.  Contact
with JLL shall be made exclusively through e-mail to the address
stated below (uros.grujic@eu.jll.com) and by
July 24, 2017, 12:00 noon (CET) at the latest.

Upon contacting JLL, any Interested Party will receive a Non-
Disclosure Agreement to be signed by the respective Interested
Party.

Once the Non-Disclosure Agreement has been signed by the
Interested Party, any such Interested Party who is admitted to
the Sales Process will receive (i) further documents regarding
the Sales Process (in particular a process letter describing
terms and conditions of the Sales Process in more detail) as well
as (ii) access to a preliminary virtual data room
setting out certain basic information on the Transactions and the
respective target companies.  Any costs (legal, tax, real estate
advisory fees, environmental, technical, etc.) associated with
the due diligence conducted by potential Interested Party are to
be borne by such party and will in no case be indemnified by HETA
and HBEG.

Based on the information contained in the preliminary VDR, the
Interested Party /-ies will be invited to submit a non-binding
offer (the "NBO") by 31 July 2017, 12:00 noon (CET) at the
latest.

HETA reserves the right (at its sole discretion) to terminate,
modify or suspend the Sales Process in whole or in part at any
time and without explanation.  In doing so, HETA will at all
times comply with the principles of an open, transparent and non-
discriminatory Sales Process.  In such case, as in all other
circumstances, no Interested Party will have any claim for any
damages or compensation for loss, costs and other expenditures
incurred by it in connection with the Sales Process.  This is
neither a commitment nor an obligation to consider or conclude
any transaction with any Interested Party and each of HETA, HBEG,
Skiper, X-Y Turist and JLL, and each of their related parties
(affiliates, directors, officers, employees, advisers or agents),
expressly state that no  representation or warranty with respect
to the information provided and information being provided is
made by this invitation and expressly disclaim any and all
liability on any grounds whatsoever (in particular for
representations and warranties deemed to be made or statements
contained in this invitation to any prospective purchaser).

For further information regarding HETA, please refer to HETA's
website at www.heta-assetresolution.com.

Contact details:
Jones Lang LaSalle
Bulevar Mihajla Pupina 10L, 11070
Belgrade, Serbia
e-mail: uros.grujic@eu.jll.com

Heta Asset Resolution AG is a wind-down company owned by the
Republic of Austria.  Its statutory task is to dispose of the
non-performing portion of Hypo Alpe Adria, nationalized in 2009,
as effectively as possible while preserving value.


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F R A N C E
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WFS GLOBAL: S&P Affirms 'B-' CCR & Revises Outlook to Stable
------------------------------------------------------------
S&P Global Ratings said that it revised to stable from negative
its outlook on French airport cargo handler WFS Global Holding
SAS (WFS).  S&P also affirmed its 'B-' long-term corporate credit
rating on the company.

At the same time, S&P affirmed its 'B-' issue rating on the
company's EUR375 million senior secured notes (including the
recent tap issuance of EUR50 million) due 2022.  The recovery
rating is unchanged at '3', reflecting S&P's expectation that
recovery in the event of a payment default will be about 65%.
S&P also affirmed its 'CCC' issue rating on the EUR140 million
senior unsecured notes due 2022.  The recovery rating is
unchanged at '6', reflecting S&P's expectation of 0% recovery in
the event of a payment default.

On Feb. 21, 2017, S&P indicated that it had used its "Key Credit
Factors For The Transportation Cyclical Industry," published
Feb. 12, 2014, to assess WFS, given its high dependence on the
airline industry.  However, S&P should have applied "Key Credit
Factors For The Business And Consumer Services Industry,"
(Business Services KCF) published Nov. 19, 2013.  These criteria
are used for companies whose primary function is to provide
general support services for businesses that typically have the
option to insource the services.  In correcting this error, S&P
has revised its industry and profitability assessment.  However,
the lower industry risk is counterbalanced by higher volatility
of rofitability among business services peers; as a result, the
use of the Business Services KCF has had no impact on the
ratings.

S&P's rating action reflects WFS' improved liquidity position
after it tapped its existing senior secured notes by EUR50
million and enlarged its revolving credit facility (RCF) due in
2020 by EUR10 million to EUR95 million.  The net proceeds of its
tap will be used to materially reduce the cash drawings under its
rolling credit facility and for general corporate purposes.

S&P's rating analysis incorporates its view that the tap inflates
the company's already heavily indebted capital structure.  In
S&P's view, liquidity remains less than adequate, mainly because
headroom under the RCF is forecast to be tight in December 2017
and especially in December 2018.  That said, the company's
adjusted EBITDA performance has improved compared with the
previous year and S&P considers that this has helped reduce the
risk of a covenant breach, if tested.  The RCF covenant is tested
if more than 35% of the facility is used for cash drawings or
letter of credits.

The 'B-' rating is constrained by the high debt burden.  Although
WFS' continued focus on cost efficiencies is likely to improve
its EBITDA generation and profitability, S&P do not expect WFS'
credit metrics to improve sufficiently that S&P would revise its
view of financial risk up from highly leveraged over the next 12-
18 months.

S&P anticipates that restructuring costs will continue to
constrain WFS' financial position, although these costs will be
significantly lower than in 2016.  This leads S&P to forecast
that the company will generate negative free operating cash flow
over the next 12 months.

WFS is a global leading player in the cargo handling market and
appears to be well on track to gain significant cost synergies
from the integration of the North American CAS, which started in
2016.  S&P assess WFS' business risk profile as weak, reflecting
S&P's view of the company's focus on the cyclical airline
industry as a sole end-market, as well as its concentration on
cargo handling.  Cargo handling provides two-thirds of WFS'
revenue and S&P generally views it as more susceptible to the
general economic fluctuations than ramp and passenger handling
activities, which comprise one-third of WFS' sales.  S&P views
favorably WFS' international footprint in the global air cargo
handling market, its ownership of warehouses, and its road feeder
system -- which S&P believes enhances the company's competitive
position and operating efficiency.

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

   -- Revenue growth of about 2.5% in 2017-2019.  It reported
      revenue growth of around 44% in 2016, primarily stemming
      from the acquisition of CAS.

   -- Material decrease in restructuring items and realization of
      the remaining synergies from the CAS integration.

   -- Adjusted EBITDA margins increasing to about 11.5% in 2017
      and about 13% in 2018-2019.

   -- Capital expenditure (capex) of about EUR25 million per year
      in 2017-2019.

   -- A vendor loan of EUR40 million in WFS' capital structure,
      following private equity owner Platinum Equity's purchase
      of the company in October 2015, which accrues (noncash)
      interest of 12% per year.  S&P includes this in its
      adjusted debt figure.

   -- EUR50 million senior secured notes tap, maturing in 2022.

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

   -- Adjusted debt to EBITDA of about 7.0x at the end of 2017
      and about 6.0x at the end of 2018, compared with about 8.0x
      at the end of 2016; and

   -- Reported EBITDA interest coverage of 1.0x-1.5x in 2017 and
      2018, constrained by the high interest burden of about
      EUR60 million per year (including noncash interest).

S&P's operating lease adjustment constitutes a material increase
to the company's reported debt of about EUR240 million.
Furthermore, S&P treats the adjusted lease-related expense as a
combination of depreciation and interest expense.  Therefore,
S&P's standard operating lease adjustment also increases adjusted
EBITDA, and interest expense.

The stable outlook reflects S&P's expectation that WFS will be
able to maintain sufficient liquidity sources to cover the uses
within the next 12 months, boosted by the recent notes tap, RCF
increase, and improving operating performance.  S&P also
anticipates that the company will be able to have full access to
its RCF.

S&P could downgrade WFS if S&P considers it likely that its
liquidity sources-to-uses ratio will fall below 1.0x.  S&P would
also lower the rating if the financial covenant appeared likely
to be breached -- absent prospects to remedy the breach.

Furthermore, if S&P deemed WFS' financial commitments, including
very high interest costs, to be unsustainable in the long term,
S&P could consider a downgrade.

Given WFS' existing heavy indebtedness, S&P considers an upgrade
to be unlikely.  The expected negative FOCF within the next 12
months and high interest costs also reduce the likelihood of an
upgrade.


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I R E L A N D
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BLUEMOUNTAIN FUJI: S&P Assigns 'B-' Rating to Class F Notes
-----------------------------------------------------------
S&P Global Ratings assigned its credit ratings to BlueMountain
Fuji EUR CLO II DAC's class A, B, C, D, E, and F notes.  At
closing, the issuer also issued unrated subordinated notes.

The ratings assigned to BlueMountain Fuji EUR CLO II's class A,
B, C, D, E, and F notes reflect S&P's assessment of:

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

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

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

   -- The transaction's legal structure, which is bankruptcy
      remote.

S&P considers that the transaction's documented counterparty
replacement and remedy mechanisms adequately mitigate its
exposure to counterparty risk under S&P's current counterparty
criteria.

Following the application of S&P's structured finance ratings
above the sovereign criteria, it considers the transaction's
exposure to country risk to be limited at the assigned rating
levels, as the exposure to individual sovereigns does not exceed
the diversification thresholds outlined in S&P's criteria.

The transaction's legal structure is bankruptcy remote, in line
with S&P's legal criteria.

BlueMountain Fuji EUR CLO II can establish subsidiary special-
purpose entities (sub-SPEs) to hold equity securities, received
as part of a workout of an underlying defaulted or distressed
asset, and assets that are not permitted to be acquired under
U.S. investment guidelines (defined as ineligible obligations).
S&P understands that these sub-SPEs are intended to prevent
collateralized debt obligations (CDOs) from incurring entity
level taxation.  S&P expects that any sub-SPEs established will
meet its applicable criteria for sub-SPEs. These criteria, among
other things, look for the sub-SPE to be consistent with our
published criteria for rating bankruptcy remote SPEs, the sub-
SPE's expenses to be subject to the administrative expense cap in
the CDO's payment waterfall, and prohibit the sub-SPE from
obtaining title to real property.

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

BlueMountain Fuji EUR CLO II is a European cash flow corporate
loan collateralized loan obligation (CLO) securitization of a
revolving pool, comprising euro-denominated senior secured loans
and bonds issued mainly by European borrowers. BlueMountain Fuji
Management, LLC is the collateral manager.

RATINGS LIST

Ratings Assigned

BlueMountain Fuji EUR CLO II DAC
EUR358.70 Million Senior Secured And Deferrable Floating-Rate
Notes (Including EUR35.8 Million Unrated Notes)

Class          Rating             Amount
                                (mil. EUR)
A              AAA (sf)           207.80
B              AA (sf)             44.70
C              A (sf)              20.60
D              BBB (sf)            17.50
E              BB (sf)             22.50
F              B- (sf)              9.80
Sub.           NR                  35.80

NR--Not rated.
Sub.--Subordinated.


DECOBAKE: Faces Liquidation Following Debt Default
--------------------------------------------------
Tim Healy at Independent.ie reports that Decobake, which is
facing a winding up order over non-payment of EUR102,000 in
commercial rates, has offered to make payments over the debt.

According to Independent.ie, the court was told that as a
provisional liquidator had been appointed on June 29 to Decobake
of Bachelor's Walk, Dublin, the offer was not acceptable.

Dublin City Council brought the application to appoint a
liquidator saying the company is insolvent and unable to pay its
debts, Independent.ie relates.  The council, as cited by
Independent.ie, said it was done to ensure Decobake's assets are
not put out of reach of its creditors.

Mr. Justice Paul Gilligan, who appointed Declan de Lacy as
provisional liquidator on June 29, said on June 30 he was not
prepared to stay or set aside his order as he deemed it had been
properly made to the court, Independent.ie relays.  He said if
the company wished to vary the order, it could bring an appeal to
the Court of Appeal, Independent.ie notes.

He said it was also up to the parties themselves to see if they
could come to an arrangement over the debt, according to
Independent.ie.

Decobake makes and sells cake decorations and baking products,
with a registered address at Claddagh Cottage, Hortland Donadea,
Naas, Co Kildare.  It also operates from a warehouse in Clane, Co
Kildare.


WEATHERFORD INTERNATIONAL: Offering $250 Million of Senior Notes
----------------------------------------------------------------
Weatherford International plc announced the launch of a private
offering of an additional $250 million aggregate principal amount
of its 9.875% senior notes due 2024 to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended, and to certain non-U.S. persons in accordance with
Regulation S under the Securities Act.  The New Notes will be
senior, unsecured obligations of Weatherford International Ltd.,
a Bermuda exempted company and indirect, wholly owned subsidiary
of the Company.  The New Notes will be fully and unconditionally
guaranteed, on a senior, unsecured basis, by the Company and by
Weatherford International, LLC, a Delaware limited liability
company and indirect subsidiary of Weatherford Bermuda.

The New Notes will be issued as additional securities under an
indenture pursuant to which Weatherford Bermuda previously issued
$540 million aggregate principal amount of its 9.875% senior
notes due 2024.  The New Notes will have identical terms, other
than the issue date, as the Initial Notes, and the New Notes and
the Initial Notes will be treated as a single class of securities
under the indenture governing the Notes.

The purpose of the Offering is to repay amounts outstanding under
the Company's revolving credit facility, give the Company
additional liquidity throughout 2017, and provide assurance it
will comply with the financial covenants set forth in its senior
revolving and term loan credit facilities.

The New Notes will not be registered under the Securities Act or
any state securities laws and may not be offered or sold in the
United States absent registration or an applicable exemption from
such registration requirements.

                Errors Found in Quarterly Report

In June 2017, the Company identified an immaterial error, with no
cash flow impact, of approximately $28 million, net, related to
the recognition of revenue with a customer, Petroleos de
Venezuela, S.A. in its previously reported 2016 Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q for the periods
ended Sept. 30, 2016, and March 31, 2017.  The Company has
concluded that beginning in the third quarter of 2016, the
duration of time expected to collect revenue earned with PDVSA
significantly exceeds the contractual payment terms and
represents an implied financing arrangement.  This has required
the Company to recognize revenue at a discount reflecting the
time value of money and accrete the discount as interest income
over the expected collection period using the effective interest
method.

This immaterial error resulted in the overstatement of both
accounts receivable and revenue of approximately $22 million and
$23 million, respectively, as of and for the year ended Dec. 31,
2016, and $6 million and $8 million, respectively, as of and for
the three-month period ended March 31, 2017.

In connection with this development, the Company will correct
this immaterial error in its Quarterly Report on Form 10-Q for
the three and six month periods ended June 30, 2017.  The impact
of the correction will decrease revenue and increase interest
income by approximately $31 million and $3 million, respectively,
for the three and six month periods ended June 30, 2017, and
reduce accounts receivable by approximately $28 million as of
June 30, 2017.

The impact of this error, had it been recorded in the prior
periods, would have no impact on the Company's previously
reported compliance with financial covenants under its senior
revolving and term loan credit facilities.  There is also no
impact to cash flow from operating activities or any other cash
flow measures.

                       About Weatherford

Ireland-based Weatherford International plc (NYSE: WFT) --
http://www.weatherford.com/-- is a multinational oilfield
service company providing innovative solutions, technology and
services to the oil and gas industry.  The Company operates in
over 90 countries and has a network of approximately 880
locations, including manufacturing, service, research and
development, and training facilities and employs approximately
29,500 people.

Weatherford International reported a net loss attributable to the
Company of $3.39 billion on $5.74 billion of total revenues for
the year ended Dec. 31, 2016, compared to a net loss attributable
to the Company of $1.98 billion on $9.43 billion of total
revenues for the year ended Dec. 31, 2015.  As of March 31, 2017,
Weatherford had $12.16 billion in total assets, $10.47 billion in
total liabilities and $1.69 billion in total shareholders'
equity.

                         *     *     *

In November 2016, Fitch Ratings has downgraded the ratings for
Weatherford and its subsidiaries, including the companies'
Long-Term Issuer Default Ratings (IDRs) to 'CCC' from 'B+'.

In November 2016, S&P Global Ratings lowered its corporate credit
rating on Weatherford International to 'B+' from 'BB-'.  "The
downgrade reflects our revised free operating cash flow estimates
for Weatherford following weaker-than-anticipated cash inflows in
the third quarter," said S&P Global Ratings credit analyst Carin
Dehne-Kiley.


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I T A L Y
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BANCA POPOLARE: Italy's Finance Minister Defends Wind-Down
----------------------------------------------------------
Joseph Nasr at Reuters reports that Finance Minister Pier Carlo
Padoan on June 29 defended Italy's closure of two failed regional
banks using public funds, saying the costs pale in comparison
with the large sums that Germany and Britain pumped into their
banks after the financial crisis.

According to Reuters, writing in German weekly magazine
Wirtschaftswoche, Mr. Padoan said the decision to wind down the
two banks at a possible cost of up to EUR17 billion was a
necessary intervention to save the economy of the Veneto region.

German Finance Minister Wolfgang Schaeuble and Bundesbank
president Jens Weidmann have both bemoaned Italy's decision,
which was approved by the European Commission and involves the
state rather than investors bearing most of the cost, Reuters
relates.

This goes against the spirit of a framework known as the banking
union agreed by European Union member states after the 2008
financial crisis, Reuters notes.

"The banking union was adopted and devised after many countries
put enormous amounts of taxpayers' money into the stabilisation
of their banking sectors," Reuters quotes Mr. Padoan as saying in
a column.  "We are talking about hundreds of billions in Germany
and Britain."

Mr. Padoan, as cited by Reuters, said: "I think the rules are
there in order to deal with problems in a fair way that serves
the public interest."

The deal to wind down Banca Popolare di Vicenza and Veneto Banca
allows Italy to solve a banking crisis on its own terms, ensuring
the two Veneto lenders are not wound down under potentially
tougher European rules, Reuters discloses.

Banca Popolare di Vicenza (BPVi) is an Italian bank.  The bank
was the 13th largest retail and corporate bank of Italy by total
assets, according to Mediobanca.

                         *     *     *

As reported by the Troubled Company Reporter-Europe on June 29,
2017, Fitch Ratings downgraded Banca Popolare di Vicenza's Long-
and Short-Term Issuer Default Ratings (IDRs) to 'D' from 'CCC'
and 'C' respectively and removed them from Rating Watch Evolving
(RWE). Fitch also downgraded Vicenza's Viability Rating (VR) to
'f' from 'cc'. The Rating Watch on Vicenza's senior debt has been
revised to Positive (RWP) from RWE.

The rating action follows the announcement that Vicenza and
Veneto Banca were placed into liquidation after the Italian
government passed a law decree (n.99, 25 June 2017) on June 25,
2017. 23 June 23, the European Central Bank determined that the
banks were 'failing or likely to fail' as a result of lack of
capital and, on the same date, the Single Resolution Board
concluded that a resolution action was not necessary in the
public interest, so that normal Italian insolvency proceedings
would achieve the resolution objectives.


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N E T H E R L A N D S
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NEPTUNO CLO I: S&P Raises Ratings on Two Note Classes to B+
-----------------------------------------------------------
S&P Global Ratings raised its credit ratings on Neptuno CLO I
B.V.'s class B1, B2, C, D, E1, and E2 notes, and Y combo notes.
At the same time, S&P has withdrawn its ratings on the class A-R
and A-T notes following the full repayment of principal.

The rating actions follow S&P's analysis of the transaction's
performance and the application of its relevant criteria.

Since S&P's previous review in June 2016, the rated notes have
benefitted from an increase in the par coverage resulting from
the class A-T and A-R notes' full amortization and some principal
repayment on the class B1 and B2 notes on the most recent payment
date.

The class Y combo notes have continued to receive distributions
from their components.  The rated balance of the class Y combo
notes has reduced to 69% of the initial balance.

S&P subjected the capital structure to its cash flow analysis to
determine the break-even default rate (BDR) for each class of
notes at each rating level.

The BDRs represent S&P's estimate of the level of asset defaults
that the notes can withstand and still fully pay interest and
principal to the noteholders.

S&P has estimated future defaults in the portfolio in each rating
scenario by applying its updated corporate collateralized debt
obligation (CDO) criteria.

S&P's analysis shows that the available credit enhancement, due
to the significant deleveraging of the structure, for all classes
of notes is now commensurate with higher ratings than those
previously assigned.  Therefore, S&P has raised its ratings on
the class B1, B2, C, D, E1, and E2 notes, and Y combo notes.

Neptuno CLO I is a cash flow collateralized loan obligation (CLO)
transaction managed by BNP Paribas Asset Management.  A portfolio
of loans to mainly speculative-grade corporates backs the
transaction.  Neptuno CLO I closed in May 2007 and its
reinvestment period ended in November 2014.

RATINGS LIST

Class             Rating
            To              From

Neptuno CLO I B.V.
EUR512.081 Million Senior Secured Fixed- Floating-Rate Revolving
and Deferrable Notes

Ratings Raised

B1          AAA (sf)        AA+ (sf)
B2          AAA (sf)        AA+ (sf)
C           AAA (sf)        AA+ (sf)
D           AA+ (sf)        A- (sf)
E1          B+ (sf)         CCC- (sf)
E2          B+ (sf)         CCC- (sf)
Y Combo     AAAp (sf)       AA+p (sf)

Ratings Withdrawn

A-T         NR (sf)         AAA (sf)
A-R         NR (sf)         AAA (sf)

NR--Not rated.


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S P A I N
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BFA TENEDORA: S&P Affirms 'BB+/B' Counterparty Credit Ratings
-------------------------------------------------------------
S&P Global Ratings affirmed its 'BBB-/A-3' long- and short-term
counterparty credit ratings on Spain-based Bankia S.A.  The
outlook remains positive.

S&P has also affirmed the 'BB+/B' long- and short-term
counterparty credit ratings on Bankia's parent company BFA
Tenedora de Acciones S.A.U. (BFA).  The outlook remains positive.

The affirmation follows Bankia's announcement on June 27 that its
board has approved an integration agreement to merge by
absorption with Banco Mare Nostrum S.A. (BMN).  The merger values
BMN at EUR825 million, fully paid-in Bankia's shares.  The deal
will also need extraordinary general shareholders' meetings and
regulatory approvals.

S&P considers that this deal, if it goes ahead as planned, will
moderately reinforce the group's prospective business profile,
especially in terms of domestic presence and scale.  BMN will add
EUR22 billion of loans (20% of Bankia's current loan book at
December 2016) and EUR29 billion of deposits (28% of Bankia's
current deposits) to the group.  Moreover, although the
turnaround of BMN and the IT migration might represent a
challenge, S&P thinks Bankia's management has a successful track
record of integrating acquired banks.

S&P considers that the deal will have a negative impact on the
group's asset quality and capital, albeit manageable.
Specifically, the integration of BMN's will lower BFA's risk-
adjusted capital (RAC) by around 130 basis points.

However, S&P believes that the bank will be able to strengthen
its capital position in the next 12-24 months owing to hybrid
issuance and organic capital generation.  This will lead to a
combined RAC ratio of about 8.0%-8.5% by December 2018, compared
to the stand-alone ratio of 8.0% as of December 2016.  S&P's
forecast also assumes that BMN's net contribution and the deal's
synergies will be negligible this year and next.

Furthermore, while the BMN acquisition could drag on Bankia's
pace of asset quality improvement, the combined entity would
still report nonperforming assets (NPA) ratio broadly in line
with the peer average at 13.3%, compared to 12.6% for the group's
stand-alone ratio as of December 2016.  S&P also takes into
account that the announced balance sheet adjustments of about
EUR1 billion will align BMN's coverage ratios of NPAs with those
of Bankia at around 50%.

Overall, S&P thinks that BMN will add a contained degree of
complexity to the group.  BMN's balance sheet structure is
similar to Bankia's: two-thirds of loans are to households and
around one-third to companies.  Exposure to the real estate
sector is below sector average.

Lastly, BMN's funding position benefits for a relatively large
base of retail customer deposits, which represents around 80% of
its total funding--supporting a balanced funding profile for the
combined entity.  Similarly, BMN has a relatively comfortable
liquidity position, resulting in a pro forma combined ratio of
liquid assets to short-term wholesale funding of 2.2x as of end-
2016, compared to 2.0x for Bankia on a stand-alone basis.
Although the stock of ECB funding (TLTRO) will increase for the
combined entity, it will remain contained at around 8% of total
assets.

The positive outlook indicates the possibility of Spain's
economic and operating environment becoming more supportive,
ultimately strengthening banks' creditworthiness in the next 12-
24 months and therefore leading S&P to revise up its anchor for
banks operating primarily in Spain.

An upgrade would also depend on a successful integration of BMN
and continued improvement in the group's financial profile.
Post-merger, S&P expects the bank's solvency to reach a RAC ratio
in the range of 8.0%-8.5% as of December 2018 through organic
capital generation and issuance of hybrid instruments, while its
stock of problematic assets will reduce by one-fifth in the next
two years to reach about 10% of total exposures.

S&P could revise the outlook to stable if it do not see prospects
of the economic or operating risk environment in Spain easing
further for banks, or if other risks offset the potential
benefits of a more supportive environment.  This could happen if
BMN's integration and turnaround proves to be more complex and
lengthier than expected or if unexpected legacy risks arise.


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


ANNINGTON HOMES: S&P Puts 'CCC+' CCR on CreditWatch Positive
------------------------------------------------------------
S&P Global Ratings placed its 'CCC+' long-term corporate credit
and issue ratings on U.K.-based Annington Homes Ltd. on
CreditWatch with positive implications.

The CreditWatch placement follows the announcement by parent
company, Annington Ltd., on June 28, 2017, of its intention to
refinance its entire capital structure, which includes Annington
Home's existing securitization structure.

S&P's current assessment of Annington Homes' credit quality is
constrained by the restrictions under the securitization
structure, which lock-up any cash flow generated at the main
operating entity.

Annington Ltd. plans to refinance its entire capital structure by
raising approximately GBP3.4 billion of senior unsecured pari
passu debt across bank term loans and notes under its medium-term
notes program and implementing a rights issue for an amount of
$550 million.  The company will also put in place a GBP300
million revolver credit facility, but S&P understands it will
remain undrawn at closing and won't be used in the refinancing
transaction.

Once the refinancing is complete, Annington Homes' business risk
profile will be substantially enhanced through its access to the
40,609 income-producing residential units and cash flows
currently isolated within the restricted group.  Annington Homes
would enjoy a large portfolio, valued at about GBP7.5 billion, of
affordable well-located residential assets.  The assets are
located throughout England and Wales, especially in the South of
England (around 86% of the portfolio value is in this area and
75% is located within two hours of London), where house price
growth has been historically the strongest and most resilient
through the cycle.

As a result of the refinancing and the GBP550 million of equity
injected in the transaction, S&P also expects Annington Homes to
materially reduce its debt leverage and improve its capacity to
cover interest.  S&P forecasts for the next two years its debt to
debt and equity ratio decreasing around 45%, from 47.47% on
Dec. 31, 2016, and its EBITDA-to-interest ratio improving to
about 1.5x-1.8x, from 0.67x on Dec. 31, 2016.  S&P understands
management will remain committed to achieving a maximum loan-to-
value ratio of 50%, which would be compatible with an investment-
grade rating.

The CreditWatch placement reflects S&P's view that the
refinancing announced by Annington Ltd. would likely result in a
substantial improvement of Annington Homes' credit profile.  S&P
will resolve the CreditWatch placement when the transaction is
completed, expected in the coming weeks.

If the proposed refinancing is completed as planned, S&P would
consider upgrading Annington Homes by up to eight notches to
'BBB', in line with S&P's preliminary rating on Annington Ltd.,
the parent company.

S&P would consider affirming the 'CCC+' ratings on Annington
Homes and removing them from CreditWatch positive if the
refinancing does not take place and the securitization structure
is not fully repaid.


CASTELL 2017-1: DBRS Puts BB Provisional Rating to Cl. E, F Debts
-----------------------------------------------------------------
DBRS Ratings Limited assigned provisional ratings to the notes
issued by Castell 2017-1 PLC (Issuer) as follows:

-- Class A Notes rated AAA (sf)
-- Class B Notes rated AA (low) (sf)
-- Class C Notes rated A (low) (sf)
-- Class D Notes rated BBB (sf)
-- Class E Notes rated BB (high) (sf)
-- Class F Notes rated BB (low) (sf)

The Class X Notes and Class Z Notes are not rated.

Castell 2017- 1 Plc is a bankruptcy-remote special-purpose
vehicle incorporated in the United Kingdom. The issued notes will
be used to fund the purchase of UK second-lien mortgage loans
originated by Optimum Credit Limited (Optimum Credit or Seller).
Partial proceeds of the Class Z Notes will be used to fund the
General Reserve Fund. Optimum Credit is a new lender based in
Cardiff, Wales and launched as a specialised provider of second-
charge mortgages in the UK in November 2013. The majority of loan
originations are sourced through brokers all of whom, since March
2016, are regulated by the Financial Conduct Authority under the
Mortgage Code of Conduct and Business. The originator is owned by
Patron Capital Partners, a Western European private equity real
estate fund with its main investment advisor, Patron Capital
Advisers LLP, based in London.

The mortgage portfolio will be serviced by Optimum Credit with
Capita Mortgage Services Limited (Capita) in place as the back-up
servicer. Intertrust Management Limited has been appointed as a
back-up servicer facilitator.

As of 30 April 2017, the portfolio consisted of 5,823 mortgage
loans with a total portfolio balance of GBP 242.3 million. The
average loan per borrower is GBP 41,612. The weighted-average
(WA) seasoning of the portfolio is 10.6 months with a WA
remaining term of 15.94 years. The WA loan-to-value, inclusive of
any prior ranking balances of the portfolio, is 64.10%. Within
the portfolio, 40.94% of the loans are fixed-rate loans reverting
to floating, 13.32% are discount-rate loans, 21.48% are floating-
rate loans linked to Optimum Base Rate and 24.25% are floating-
rate loans linked to one-month Libor. 1.64% of the portfolio
comprises loans originated to borrowers with a prior County Court
Judgement and 0.74% of the borrowers are in arrears.

Credit enhancement for the Class A Notes is calculated as 25.50%
and is provided by the subordination of the Class B Notes to the
Class Z Notes (excluding the Class X notes). Credit enhancement
for the Class B Notes is calculated as 20.50% and is provided by
the subordination of the Class C Notes to the Class Z Notes
(excluding the Class X notes). Credit enhancement for the Class C
Notes is calculated as 14.50% and is provided by the
subordination of the Class D Notes to the Class Z Notes
(excluding the Class X notes). Credit enhancement for the Class D
Notes is calculated as 10.00% and is provided by the
subordination of the Class E Notes to the Class Z Notes
(excluding the Class X notes). Credit enhancement for the Class E
Notes is calculated as 6.26% and is provided by the subordination
of the Class F Notes to the Class Z Notes (excluding the Class X
notes). Credit enhancement for the Class F Notes is calculated as
2.96% and is provided by subordination of the Class Z Notes. The
Class Z notes provide subordination to the extent they are
collateralised.

The transaction benefits from an amortising cash reserve that is
available to support the Class A to Class F Notes. The cash
reserve is fully funded at close and is required to be funded at
the minimum of 2.0% of the initial balance of the Class A to the
Class Z Notes (excluding the Class X notes) and 4.0% of the
current balance of the Class A to the Class Z Notes (excluding
the Class X notes).

The Notes are provided liquidity support from an amortising
liquidity reserve which is able to support payment of senior fees
and interest on the Class A and Class B Notes. The liquidity
reserve is zero on the closing date and is funded from principal
receipts to 1.5% of the outstanding balance of the Class A and
Class B Notes. Additionally, principal receipts may be used to
also provide liquidty support to payments of senior fees and
interest on the Class A and Class B Notes subject to principal
deficiency ledger conditions.

The Issuer has entered into a fixed-floating swap with The Royal
Bank of Scotland PLC (trading as NatWest Markets), to mitigate
the fixed interest rate risk from the mortgage loans and the
three-month Libor payable on the Notes. The fixed-floating swap
documents reflect DBRS's "Derivative Criteria for European
Structured Finance Transactions" methodology.

The Account Bank, Cash Manager, Principal Paying Agent, Agent
Bank and Registrar is Cititbank N.A., London Branch. The DBRS
private rating of the Account Bank complies with the threshold
for the Account Bank outlined in DBRS "Legal Criteria for
European Structured Finance Transactions", given the rating
assigned to the Class A Notes.

The ratings on the Notes address the timely payment of interest
and ultimate payment of principal on or before the legal final
maturity date. DBRS based the ratings primarily on the following:

-- The transaction capital structure, form and sufficiency of
    available credit enhancement and liquidity provisions.
-- The credit quality of the mortgage loan portfolio and the
    ability of the servicer to perform collection activities.
    DBRS calculated portfolio default rates (PDRs), loss given
    default (LGD) and expected loss (EL) outputs on the mortgage
    loan portfolio.
-- The ability of the transaction to withstand stressed cash
    flow assumptions and repay the Rated Notes according to the
    terms of the transaction documents. The transaction cash
    flows were modelled using PDRs and LGD outputs provided by
    the European RMBS Insight Model. Transaction cash flows were
    modelled using INTEX DealMaker.
-- The structural mitigants in place to avoid potential payment
    disruptions caused by operational risk, such as downgrade and
    replacement language in the transaction documents.
-- The transaction's ability to withstand stressed cash flow
    assumptions and repay investors in accordance with the Terms
    and Conditions of the notes.
-- The legal structure and presence of legal opinions addressing
    the assignment of the assets to the Issuer and consistency
    with DBRS's "Legal Criteria for European Structured Finance
    Transactions" methodology.


CO-OP BANK: Hedge Fund Rescue Raises Questions on Ethical Stance
----------------------------------------------------------------
Emma Dunkley at The Financial Times reports that The Co-operative
Bank received a lifeline this week through a GBP700 million
rescue from its investors.

The latest support -- the second in four years -- means the
lender will not be wound down, the FT states.  But with the
Co-operative Group's stake falling to just 1%, and hedge funds
seizing almost full control of the bank, the deal raises
questions over whether ethical banking can be sustainable and
profitable, the FT notes.

According to the FT, Dennis Holt, chairman of the bank, says he
is "confident" the lender can preserve its ethical stance -- and
its name -- despite the mutual group's tiny holding, as it will
continue to abide by the same policies.

The Co-op Bank has suffered five years of consecutive annual
losses and was pulled from the brink of collapse in 2013 by hedge
funds that helped plug a GBP1.5 billion capital shortfall, the FT
relays.  It was forced to strike the latest deal after it
revealed in January that it would miss the regulator's capital
requirements over the next few years, the FT recounts.  A sale
was the bank's "preferred" solution -- but it failed to find a
suitable buyer, the FT states.

Many of the lender's problems stem from poor governance and its
ill-timed acquisition of Britannia Building Society in 2009, the
FT discloses.  That deal left the Co-op saddled with billions of
pounds of bad commercial property loans, the FT says.

But some analysts argue that its focus on ethical products,
services and workplace values has hampered the Co-op Bank's
performance, putting more pressure on it compared with lenders
that pursue pure profit growth, according to the FT.

                     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.  However, the bank had
originally hoped to strike a deal by mid-June, in order to
complete the debt-for-equity swap process before GBP400 million
of senior bonds mature in September, the FT states.

The Co-op Bank said it was still pursuing an attempt to sell the
entire lender at the same time as advancing talks with existing
investors to raise capital, the FT relays.


EXPRO HOLDINGS: S&P Affirms 'CCC+' CCR, Outlook Negative
--------------------------------------------------------
S&P Global Ratings affirmed its 'CCC+' long-term corporate credit
rating on U.K.-based oilfield services company Expro Holdings
U.K. 3 Ltd.  The outlook is negative.

At the same time, S&P lowered its issue ratings on Expro's
$175 million revolving credit facility (RCF) and $1.3 billion
term loan to 'CCC+' from 'B-'.  S&P revised the recovery rating
on these facilities to '3' from '2', indicating its expectation
of recovery in the 50%-70% range (rounded estimate: 50%).

The affirmation continues to reflect Expro's unsustainable
capital structure, with adjusted debt to EBITDA above 10x and
negative free operating cash flows (FOCF) in the coming 12
months.

S&P views Expro's fiscal 2017 (ending March 30, 2017) overall
performance as weaker than S&P had anticipated (including its
estimation of S&P Global Ratings-adjusted EBITDA of about $125
million in fiscal 2017).  S&P now projects that this will
continue for several quarters, resulting in a downward revision
of S&P's base case.

Under S&P's working assumption of no material rebound in deep-
water-focused oil and gas industry conditions, Expro will focus
on limiting its cash burn in the coming 12-24 months.  Later on,
with some recovery in the market, it might be able to address its
sizable debt.  S&P estimates that the company would generate
negative FOCF of $50 million or less in the coming 12 months.

As of March 31, 2017, the company had an adjusted debt of about
$1.5 billion, consisting of a $1.28 billion term loan B facility
due September 2021.  In late 2016, the company completed an
exchange of the $780 million mezzanine facility for equity,
reducing its interest costs by $40 million per year, and earlier
this year it completed an equity issue of $100 million.

Expro's weak business risk profile reflects the company's
relatively small size; its participation in the highly cyclical,
competitive, and fragmented oilfield services industry; and its
reliance on the exploration spending of oil and gas companies.
S&P factors in the capital-intensive nature of Expro's business
and its growth-oriented strategy.  These weaknesses are only
partly counterbalanced by Expro's leading market position,
healthy geographic diversification, low exposure to competition,
good track record in health and safety, and diversified, blue-
chip customer base.

The negative outlook reflects that S&P could downgrade Expro in
the coming 12 months, given S&P's view of the company's
unsustainable capital structure.

S&P could lower its rating on Expro if we witnessed a material
deterioration in the company's liquidity position, increasing the
chances of a default or a debt restructuring.  This could happen
if:

   -- EBITDA fell well below our projections, leading to a
      material negative FOCF; or

   -- Expro was unable to draw under the existing RCF.

Under a slightly less likely scenario, if the company reached an
agreement with its debtholders that met S&P's criteria of a
distressed exchange, S&P could lower the ratings to 'SD'.

S&P could revise the outlook to stable in the coming quarters if
Expro improved its liquidity position, building some buffer to
better absorb the volatility in the industry.

A future upgrade would likely follow improved market conditions
that enabled the company to generate consistently positive FOCF
to support deleveraging (for example adjusted debt to EBITDA
falling comfortably below 7x).


HEBRIDEAN SEA: Faces Liquidation Following Salt Probe
-----------------------------------------------------
Murdo Maclean at Daily Mail reports that The Hebridean Sea Salt
Company, which was accused of bulking its product with table
salt, is being wound up.

In 2011 Natalie Crayton opened the Hebridean Sea Salt Company on
the Isle of Lewis, telling customers she hand-harvested the
seasoning by evaporating it from the waters of Loch Erisort,
Daily Mail recounts.

Packs containing 150g (5oz) of the product fetched GBP2.10 each
and promised unrivalled flavor from "one of the most unspoilt
coastlines in the world'", Daily Mail states.

But Ms. Crayton's business -- which sealed a GBP180,000 deal with
Sainsbury's last year -- came crashing down earlier this year
after an investigation by Food Standards Scotland (FSS), Daily
Mail relates.

Following a tip-off from an exemployee, an investigation by the
watchdog found more than 80% of the product was "imported table
salt", Daily Mail discloses.

The company premises were raided in the wake of the findings,
with much of the product seized, Daily Mail relates.

According to Daily Mail, a legal winding up document submitted to
Stornoway Sheriff Court states the insolvent firm has a financial
"deficiency" of GBP244,106.

The firm is "unable to pay its debts as they fall due", Daily
Mail relays, citing the document.

Western Isles Council, as cited by Daily Mail, said its probe
into the firm is continuing.

The Hebridean Sea Salt Company is an artisan sea salt firm.



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


* BOND PRICING: For the Week June 26 to June 30, 2017
-----------------------------------------------------

Issuer                      Coupon     Maturity  Currency Price
------                      ------     --------  -------- -----
Air Berlin PLC             6.75    5/9/2019      EUR     57.71
Rickmers Holding AG        8.88    6/11/2018     EUR     3.33
New Look Senior Issuer PLC 8.00    7/1/2023      GBP     59.88
Air Berlin PLC             5.63    5/9/2019      CHF     55.68
Agrokor dd                 9.13    2/1/2020      EUR     14.74
Intelsat Luxembourg SA     7.75    6/1/2021      USD     54.65
Ensco PLC                  4.50    10/1/2024     USD     74.52
Holdikks SAS               6.75    7/15/2021     EUR     55.76
Agrokor dd                 8.88    2/1/2020      USD     17.00
CGG SA                     5.88    5/15/2020     EUR     41.49
New Look Secured Issuer PLC4.50    7/1/2022      EUR     71.48
Intelsat Luxembourg SA     8.13    6/1/2023      USD     51.39
Ensco PLC                  5.75    10/1/2044     USD     63.33
Oi Brasil Holdings Cooperat5.75    2/10/2022     USD     35.02
Banca Popolare di Vicenza  2.82    12/20/2017    EUR     1.13
Brighthouse Group PLC      7.88    5/15/2018     GBP     66.54
Norske Skog Holding AS     8.00    2/24/2021     EUR     15.01
Veneto Banca SpA           9.50    12/1/2025     EUR     1.25
Offshore Drilling Holding S8.38    9/20/2020     USD     34.50
Casino Guichard Perrachon S1.68                  EUR     72.07
Portugal Telecom Internatio4.63    5/8/2020      EUR     33.49
Banca Popolare di Vicenza  9.50    9/29/2025     EUR     3.99
Aegon NV                   0.53                  EUR     71.74
CGG SA                     6.50    6/1/2021      USD     40.33
Ageasfinlux SA             1.02                  EUR     59.15
Far East Capital Ltd SA    8.00    5/2/2018      USD     73.00
Frigoglass Finance BV      8.25    5/15/2018     EUR     55.00
CGG SA                     1.75    1/1/2020      EUR     1.43
Portugal Telecom Internatio4.38    3/24/2017     EUR     33.25
Bibby Offshore Services PLC7.50    6/15/2021     GBP     39.00
VistaJet Malta Finance PLC 7.75    6/1/2020      USD     73.23
Alitalia-Societa' Aerea Ita5.25    7/30/2020     EUR     15.07
QGOG Constellation SA      6.25    11/9/2019     USD     69.88
Banca Monte dei Paschi di S5.00    4/21/2020     EUR     30.88
Mitsubishi UFJ Investor Ser4.17    12/15/2050    EUR     54.63
TES Finance PLC            6.75    7/15/2020     GBP     72.22
Co-Operative Bank PLC      11.00   12/20/2023    GBP     36.38
Banca Carige SpA           7.32    12/20/2020    EUR     49.50
Avangardco Investments Publ10.00   10/29/2018    USD     22.00
OAS Investments GmbH       8.25    10/19/2019    USD     3.50
Portugal Telecom Internatio5.00    11/4/2019     EUR     33.54
Banco Espirito Santo SA    2.63    5/8/2017      EUR     28.50
Santander International Pre2.00                  USD     67.00
International Bank of Azerb6.17    5/10/2017     USD     99.78
Bremer Landesbank Kreditans8.50                  EUR     72.51
Air France-KLM             2.03    2/15/2023     EUR     12.74
CGG SA                     6.88    1/15/2022     USD     44.46
Oi Brasil Holdings Cooperat5.63    6/22/2021     EUR     35.03
UkrLandFarming PLC         10.88   3/26/2018     USD     23.63
Portugal Telecom Internatio4.50    6/16/2025     EUR     33.71
Immigon Portfolioabbau AG  10.00                 EUR     15.25
Neopost SA                 3.38                  EUR     60.34
Portugal Telecom Internatio5.88    4/17/2018     EUR     34.38
Banca Monte dei Paschi di S0.67    11/30/2017    EUR     32.08
Alno AG                    8.50    5/14/2018     EUR     46.00
Pierre & Vacances SA       3.50    10/1/2019     EUR     47.96
Banca Monte dei Paschi di S2.25    5/15/2018     EUR     27.39
Banca Monte dei Paschi di S5.60    9/9/2020      EUR     29.48
Banca Carige SpA           8.34                  EUR     24.25
ADLER Real Estate AG       2.50    7/19/2021     EUR     16.13
HSH Nordbank AG/Luxembourg 2.10                  EUR     18.33
Portugal Telecom Internatio6.25    7/26/2016     EUR     32.65
Algeco Scotsman Global Fina10.75   10/15/2019    USD     74.09
SOITEC                     6.75    9/18/2018     EUR     3.82
HSH Nordbank AG            7.25                  USD     26.26
Allied Irish Banks PLC     12.50   6/25/2035     GBP     69.75
Bremer Landesbank Kreditans9.50                  EUR     73.91
CGG SA                     1.25    1/1/2019      EUR     21.56
BIM SAS                    2.50    11/13/2020    EUR     28.50
Mitsubishi UFJ Investor Ser3.92    12/30/2099    EUR     3.76
Co-Operative Bank PLC      8.50    7/1/2025      GBP     31.50
KTG Agrar SE               7.13    6/6/2017      EUR     1.61
Sanha GmbH & Co KG         7.75    6/4/2018      EUR     65.75
Banco Espirito Santo SA    4.00    1/21/2019     EUR     28.75
Rothschilds Continuation Fi1.69                  USD     67.63
Pacific Drilling SA        5.38    6/1/2020      USD     43.00
WPE International Cooperati10.38   9/30/2020     USD     17.00
IMMOFINANZ AG              4.25    3/8/2018      EUR     4.47
Privatbank CJSC Via UK SPV 10.25   1/23/2018     USD     20.42
Novo Banco SA              3.50    1/2/2043      EUR     61.96
Bilt Paper BV              9.64                  USD     29.52
Mriya Agro Holding PLC     9.45    4/19/2018     USD     5.44
Scholz Holding Gmbh        8.50    12/31/2019    EUR     2.00
Aligera Holding AB publ    5.00    5/7/2019      SEK     51.25
Banco Pastor SAU           2.07                  EUR     1.85
Nexity SA                  0.13    1/1/2023      EUR     70.00
Paragon Offshore PLC       6.75    7/15/2022     USD     23.00
Johnston Press Bond Plc    8.63    6/1/2019      GBP     63.88
BNP Paribas SA             1.15                  EUR     72.01
Far East Capital Ltd SA    8.75    5/2/2020      USD     69.00
Banco Espirito Santo SA    7.13    11/28/2023    EUR     0.71
Agrokor dd Via Aquarius + I4.92    8/8/2017      EUR     18.75
Banco Espirito Santo SA    4.75    1/15/2018     EUR     28.63
Sydbank A/S                1.01                  EUR     73.83
Waste Italia SpA           10.50   11/15/2019    EUR     15.00
Norske Skogindustrier ASA  7.13    10/15/2033    USD     7.72
Lambay Capital Securities P6.25                  GBP     1.27
Norske Skog Holding AS     8.00    2/24/2023     USD     17.67
Virgolino de Oliveira Finan10.50   1/28/2018     USD     7.04
Popular Capital SA         4.00                  EUR     2.76
OGX Austria GmbH           8.50    6/1/2018      USD     0.03
Aralco Finance SA          10.13   5/7/2020      USD     2.90
Privatbank CJSC Via UK SPV 11.00   2/9/2021      USD     6.75
Tonon Luxembourg SA        10.50   5/14/2024     USD     42.70
Norske Skogindustrier ASA  2.00    12/30/2115    EUR     4.56
Banca Monte dei Paschi di S7.00    3/4/2019      EUR     30.88
Elli Investments Ltd       12.25   6/15/2020     GBP     70.00
IKB Deutsche Industriebank 5.63    8/1/2017      EUR     34.00
Yuksel Insaat AS           9.50    11/10/2015    USD     20.00
Banca Popolare di Vicenza  4.60    12/15/2017    EUR     14.35
Klarna AB                  5.25                  SEK     70.69
Pescanova SA               5.13    4/20/2017     EUR     3.27
ATF Capital BV             8.77                  USD     73.00
TES Finance PLC            5.29    7/15/2020     GBP     69.17
Beate Uhse AG              7.75    7/9/2019      EUR     24.00
Credit Lyonnais SACA       0.44                  EUR     68.35
Banca Carige SpA           2.77    6/19/2018     EUR     36.61
Greene King Finance PLC    2.37    3/15/2036     GBP     74.34
Eramet                     4.00                  EUR     48.71
Capital Raising GmbH       7.50                  EUR     27.38
New Look Secured Issuer PLC6.50    7/1/2022      GBP     74.95
Norske Skog Holding AS     8.00    2/24/2021     EUR     14.75
OSX 3 Leasing BV           13.00   3/20/2015     USD     35.00
Agrokor dd                 8.88    2/1/2020      USD     40.25
Pescanova SA               8.75    2/17/2019     EUR     3.04
Hybrid Raising GmbH        6.63                  EUR     23.25
Veneto Banca SpA           6.95    2/25/2025     EUR     4.86
Banco Pinto & Sotto Mayor  0.64                  EUR     40.00
Deutsche Bank AG/London    2.46    6/30/2034     USD     57.77
Lloyds Bank PLC            0.41    1/31/2033     USD     61.50
Paragon Offshore PLC       7.25    8/15/2024     USD     23.25
New Look Senior Issuer PLC 8.00    7/1/2023      GBP     60.78
Lloyds Bank PLC            0.43    2/22/2033     USD     57.66
New World Resources NV     8.00    4/7/2020      EUR     5.13
PNE Wind AG                3.75    10/10/2019    EUR     3.40
Alno AG                    8.00    3/21/2019     EUR     37.00
Belfius Bank SA/NV         4.61                  EUR     59.77
Banca Monte dei Paschi di S0.67    1/15/2018     EUR     31.35
Novo Banco SA              3.50    1/23/2043     EUR     62.16
Intelsat Luxembourg SA     12.50   11/15/2024    USD     68.47
Norske Skogindustrier ASA  7.13    10/15/2033    USD     14.57
Barclays Bank PLC          1.94    9/30/2031     USD     68.50
Tonon Luxembourg SA        9.25    1/24/2020     USD     11.13
3W Power SA                8.00    8/29/2019     EUR     40.00
Barclays Bank PLC          1.70    11/29/2030    USD     65.25
Novo Banco SA              3.50    2/19/2043     EUR     62.19
Lloyds Bank PLC            2.75    12/27/2028    USD     76.00
Novo Banco SA              5.00    2/24/2022     EUR     74.65
Smart Solutions GmbH       8.00    12/3/2018     EUR     38.63
Banco Espirito Santo SA    2.32                  EUR     0.26
Banca Monte dei Paschi di S2.79    10/31/2018    EUR     31.05
NIBC Bank NV               0.91                  EUR     70.13
Privatbank CJSC Via UK SPV 10.88   2/28/2018     USD     20.42
Dexia Credit Local SA      1.40                  EUR     7.81
Cooperatieve Rabobank UA   0.50    11/26/2021    ZAR     69.59
OP Corporate Bank plc      0.84                  EUR     73.18
Espirito Santo Financial Gr6.88    10/21/2019    EUR     0.08
Province of Milan Italy    0.03    12/22/2033    EUR     69.63
Ideal Standard Internationa11.75   5/1/2018      EUR     4.86
Dexia Kommunalbank Deutschl5.63    12/31/2017    EUR     63.54
Banca Popolare di Vicenza  8.50    12/28/2018    EUR
German Pellets GmbH        7.25    11/27/2019    EUR     0.81
City of Kiev Ukraine Via CS8.00    11/6/2015     USD     62.38
Afren PLC                  11.50   2/1/2016      USD     0.15
Barclays Bank PLC          0.66    3/21/2033     USD     59.50
Stichting Afwikkeling Onder6.25    10/26/2020    EUR     4.13
Scandinavian Airlines Syste0.63                  CHF     24.32
Lehman Brothers UK Capital 5.13                  EUR     0.28
GEWA 5 to 1 GmbH & Co KG   6.50    3/24/2018     EUR     31.38
World Wide Supply AS       7.75    5/26/2017     USD     15.75
Sidetur Finance BV         10.00   4/20/2016     USD     3.85
Orient Express Bank PJSC vi12.00   5/29/2019     USD     55.38
Banca Carige SpA           1.67    12/29/2018    EUR     40.60
VistaJet Malta Finance PLC 7.75    6/1/2020      USD     73.90
Alpine Holding GmbH        6.00    5/22/2017     EUR     0.40
Agrokor dd                 9.88    5/1/2019      EUR     15.26
NTRP Via Interpipe Ltd     10.25   8/2/2017      USD     25.17
Decipher Production Ltd    12.50   9/27/2018     USD     1.20
Novo Banco SA              3.50    3/18/2043     EUR     62.14
Barclays Bank PLC          2.94    8/28/2029     USD     78.00
Bank Nadra via NDR Finance 8.25    7/31/2018     USD     0.31
Brighthouse Group PLC      7.88    5/15/2018     GBP     66.38
New World Resources NV     4.00    10/7/2020     EUR     0.09
TradeDoubler AB            6.75    12/20/2018    SEK     70.00
Action SA                  3.21    7/4/2017      PLN     89.12
Air Berlin Finance BV      1.50    4/11/2027     EUR     50.00
Touax SA                   6.00    7/10/2020     EUR     16.91
KTG Energie AG             7.25    9/28/2018     EUR     1.41
Wild Bunch AG              8.00    3/23/2019     EUR     50.00
Tikehau Capital SCA        1.63    1/1/2022      EUR     64.70
Mriya Agro Holding PLC     10.95   3/30/2016     USD     6.31
Oceanteam ASA              12.40   10/24/2017    USD     40.00
SeaBird Exploration Finance6.00    3/3/2018      USD     22.63
Phones4u Finance PLC       9.50    4/1/2018      GBP     73.13
UniCredit Bank Austria AG  0.17    12/31/2031    EUR     66.98
Novo Banco SA              3.00    6/21/2022     USD     70.81
Dexia SA                   1.45                  EUR     7.88
Royal Bank of Scotland PLC/1.85    11/16/2030    USD     69.98
Oi Brasil Holdings Cooperat5.75    2/10/2022     USD     32.38
ESFIL-Espirito Santo Financ5.25    6/12/2015     EUR     0.31
Lloyds Bank PLC            0.24    4/26/2033     USD     56.30
More & More AG             8.13    6/11/2018     EUR     39.25
Sequa Petroleum NV         5.00    4/29/2020     USD     68.25
Manchester Building Society6.75                  GBP     17.50
Novo Banco SA              5.00    3/15/2022     EUR     74.57
Fred Olsen Energy ASA      3.89    2/28/2019     NOK     51.00
GNB - Cia de Seguros de Vid3.17                  EUR     42.88
GNB - Cia de Seguros de Vid1.87    12/19/2022    EUR     55.00
Norske Skog Holding AS     8.00    2/24/2023     USD     21.75
Espirito Santo Financial Gr3.13    12/2/2018     EUR     0.31
Deutsche Bank AG/London    0.34    3/15/2033     USD     59.25
Lloyds Bank PLC            2.45    11/27/2033    USD     70.38
Bank Nederlandse Gemeenten 0.50    6/7/2022      ZAR     65.78
Havila Shipping ASA        4.82    11/7/2020     NOK     47.38
Phosphorus Holdco PLC      10.00   4/1/2019      GBP     1.28
Praktiker AG               5.88    2/10/2016     EUR     0.20
Pescanova SA               6.75    3/5/2015      EUR     3.52
OGX Austria GmbH           8.38    4/1/2022      USD     0.00
Mobylife Holding A/S       7.25    5/23/2020     SEK     53.00
New Look Secured Issuer PLC4.50    7/1/2022      EUR     71.68
Barclays Bank PLC          2.72    7/28/2031     USD     67.74
Pacific Drilling SA        5.38    6/1/2020      USD     47.50
Virgolino de Oliveira Finan11.75   2/9/2022      USD     7.04
Hellas Telecommunications L8.50    10/15/2013    EUR     0.77
Enterprise Holdings LTD    7.00    3/30/2020     EUR     2.70
Steilmann SE               7.00    9/23/2018     EUR     2.35
UniCredit Bank Austria AG  0.19    8/20/2033     EUR     64.64
Orco Property Group SA     7.00    11/7/2019     EUR     66.75
Sairgroup Finance BV       4.38    6/8/2006      EUR     11.50
CGG SA                     6.50    6/1/2021      USD     48.31
Kaupthing ehf              7.63    2/28/2015     USD     17.63
Espirito Santo Financial Gr9.75    12/19/2025    EUR     1.22
Cirio Holding Luxembourg SA6.25    2/16/2004     EUR     1.44
Etablissements Maurel et Pr1.63    7/1/2019      EUR     16.55
Banco Espirito Santo SA    6.88    7/15/2016     EUR     28.88
CBo Territoria             6.00    1/1/2020      EUR     4.06
Offshore Drilling Holding S8.38    9/20/2020     USD     43.25
Koninklijke Luchtvaart Maat0.75                  CHF     38.10
Mox Telecom AG             7.25    11/2/2017     EUR     3.29
Frey                       6.00    11/15/2022    EUR     23.50
Barclays Bank PLC          1.94    9/30/2031     USD     68.60
Corporate Commercial Bank A8.25    8/8/2014      USD     0.94
Havila Shipping ASA        5.43    11/7/2020     NOK     69.50
Vseukrainsky Aktsinerny Ban10.90   6/14/2019     USD     0.73
LBI HF                     6.10    8/25/2011     USD     8.50
Royal Bank of Scotland PLC/1.94    12/30/2030    USD     71.75
KTG Agrar SE               7.25    10/15/2019    EUR     2.21
Assystem                   4.50                  EUR     34.26
German Pellets GmbH        7.25    7/9/2018      EUR     1.34
KPNQwest NV                10.00   3/15/2012     EUR     0.48
Vneshprombank Ltd via VPB F9.00    11/14/2016    USD     0.49
ADLER Real Estate AG       6.00    6/30/2017     EUR     9.00
BOA Offshore AS            7.64    12/18/2018    NOK     25.13
HSBC France SA             1.03                  EUR     69.00
Hellenic Republic Governmen2.09    7/25/2057     EUR     40.13
Afren PLC                  6.63    12/9/2020     USD     0.00
Barclays Bank PLC          2.59    2/28/2034     USD     70.10
Golden Energy Offshore Serv5.00    12/31/2017    NOK     40.25
3W Power SA                5.50    11/11/2020    EUR     30.00
Barclays Bank PLC          2.76    7/31/2034     USD     73.00
Agrokor dd                 9.13    2/1/2020      EUR     14.63
EDOB Abwicklungs AG        7.50    4/1/2012      EUR     0.56
Paragon Offshore PLC       7.25    8/15/2024     USD     20.75
Barclays Bank PLC          2.85    1/27/2031     USD     67.38
Lloyds Bank PLC            1.84    7/29/2033     USD     70.00
IT Holding Finance SA      9.88    11/15/2012    EUR     1.63
Petrol AD                  5.50    1/26/2022     EUR     28.63
BNP Paribas SA             0.38    4/30/2033     USD     56.85
Lehman Brothers UK Capital 6.90                  USD     0.97
Barclays Bank PLC          3.87    4/16/2029     USD     66.88
Sazka AS                   9.00    7/12/2021     EUR     0.26
JZ Capital Partners Ltd    6.00    7/30/2021     GBP     11.30
Belfius Bank SA/NV         1.62                  FRF     69.75
Barclays Bank PLC          1.33    6/17/2033     USD     67.65
Lehman Brothers Treasury Co6.00    2/15/2035     EUR     8.75
Barclays Bank PLC          1.81    7/28/2034     USD     65.65
Cirio Finanziaria SpA      8.00    12/21/2005    EUR     0.41
Portugal Telecom Internatio5.24    11/6/2017     EUR     33.88
Banca Popolare di Vicenza  9.50    10/2/2025     EUR     3.96
Cirio Finance Luxembourg SA7.50    11/3/2002     EUR     4.49
Stichting Afwikkeling Onder11.25                 EUR     0.54
Cirio Del Monte NV         7.75    3/14/2005     EUR     1.94
Teksid Aluminum Luxembourg 11.38   7/15/2011     EUR     0.40
Belfius Bank SA/NV         5.35                  EUR     64.89
Veneto Banca SpA           6.94    5/15/2025     EUR     1.25
CGG SA                     6.88    1/15/2022     USD     42.13
Far Eastern Shipping Co PLC12.25   11/28/2017    RUB     60.00
Barclays Bank PLC          2.96    9/29/2034     USD     73.90
International Industrial Ba11.00   2/19/2013     USD     0.33
Kommunalbanken AS          0.50    5/27/2022     ZAR     67.18
OGX Austria GmbH           8.50    6/1/2018      USD     0.03
getgoods.de AG             7.75    10/2/2017     EUR     0.05
Finmek International SA    7.00    12/3/2004     EUR     5.25
Santander Finance Capital S2.00                  EUR     60.11
UniCredit Bank Austria AG  0.15    12/27/2031    EUR     66.76
Waste Italia SpA           10.50   11/15/2019    EUR     15.00
Abanka Vipa DD Via Afinance1.57                  EUR     1.57
Tonon Luxembourg SA        10.50   5/14/2024     USD     40.00
AXA Bank Europe SA         4.60                  EUR     73.29
Windreich GmbH             6.50    3/1/2015      EUR     11.00
Windreich GmbH             6.50    7/15/2016     EUR     11.00
Breeze Finance SA          6.71    4/19/2027     EUR     29.05
Eniro AB                   6.00    4/14/2020     SEK     13.80
Etablissements Maurel et Pr2.75    7/1/2021      EUR     10.72
Barclays Bank PLC          2.31    12/23/2033    USD     71.75
CGG SA                     5.88    5/15/2020     EUR     40.25
Grupo Isolux Corsan SA     0.25    12/30/2018    EUR     4.29
SAG Solarstrom AG          6.25    12/14/2015    EUR     33.63
Rena GmbH                  8.25    7/11/2018     EUR     9.38
QGOG Constellation SA      6.25    11/9/2019     USD     70.11
Uppfinnaren 1 AB           10.00                 SEK     63.63
Laurel GmbH                7.13    11/16/2017    EUR     4.77
Lehman Brothers Treasury Co6.00    11/2/2035     EUR     8.75
Far East Capital Ltd SA    8.00    5/2/2018      USD     70.77
KPNQwest NV                7.13    6/1/2009      EUR     0.53
Rudolf Woehrl AG           6.50    2/12/2018     EUR     15.10
German Pellets GmbH        7.25    4/1/2016      EUR     1.03
Banco Espirito Santo SA    6.90    6/28/2024     EUR     27.75
Cooperatieve Rabobank UA   0.50    7/30/2043     MXN     12.62
Del Monte Finance Luxembour6.63    5/24/2006     EUR     5.25
A-TEC Industries AG        8.75    10/27/2014    EUR     2.00
EFG International AG       0.97                  EUR     68.00
OAS Investments GmbH       8.25    10/19/2019    USD     3.94
RENE LEZARD Mode GmbH      7.25    11/25/2017    EUR     8.25
Bulgaria Steel Finance BV  12.00   5/4/2013      EUR     2.46
Geotech Seismic Services PJ12.75   10/16/2019    RUB     69.30
Manchester Building Society8.00                  GBP     25.25
Steilmann SE               6.75    6/27/2017     EUR     4.72
International Finance Facil0.50    6/24/2024     ZAR     53.63
Gebr Sanders GmbH & Co KG  8.75    10/22/2018    EUR     27.88
Lehman Brothers Treasury Co7.25    10/5/2035     EUR     9.63
Barclays Bank PLC          2.42    2/25/2031     USD     67.75
Oceanic Champion AS        8.00    2/20/2020     USD     70.76
Veneto Banca SpA           1.67    5/15/2019     EUR     36.38
Region of Abruzzo Italy    0.13    11/7/2036     EUR     61.29
PA Resources AB            3.00    12/27/2017    NOK     0.10
Barclays Bank PLC          2.28    8/31/2031     USD     65.94
Deutsche Bank AG/London    3.19    10/31/2034    USD     67.50
DOF ASA                    7.85    9/12/2019     NOK     40.00
A-TEC Industries AG        2.75    5/10/2014     EUR     2.00
Barclays Bank PLC          2.62    12/30/2030    USD     64.00
Algeco Scotsman Global Fina10.75   10/15/2019    USD     74.64
Banca Popolare di Vicenza  5.20    3/28/2024     EUR     70.78
Banco Comercial Portugues S5.00                  EUR     60.00
Intelsat Luxembourg SA     12.50   11/15/2024    USD     68.47
CRC Breeze Finance SA      6.11    5/8/2026      EUR     55.13
Barclays Bank PLC          2.57    3/21/2031     USD     70.13
Barclays Bank PLC          0.40    5/31/2033     USD     54.50
Societe Generale SA        0.57    2/28/2033     USD     69.42
IKB Deutsche Industriebank 4.70    8/1/2017      EUR     32.00
Golden Gate AG             6.50    10/11/2014    EUR     46.10
Lehman Brothers Treasury Co5.10    5/8/2017      HKD     9.63
PA Resources AB            13.50   3/3/2016      SEK     0.10
Royal Bank of Scotland PLC/1.50    12/13/2028    USD     72.31
KPNQwest NV                8.13    6/1/2009      USD     0.50
Afren PLC                  10.25   4/8/2019      USD     0.01
Barclays Bank PLC          2.62    12/30/2030    USD     67.00
Lloyds Bank PLC            2.70    10/25/2033    USD     72.50
Electromagnetic Geoservices6.86    6/27/2019     NOK     70.33
Finance and Credit Bank JSC9.25    1/25/2019     USD     0.55
Municipality Finance PLC   0.50    5/8/2029      AUD     62.09
KPNQwest NV                8.88    2/1/2008      EUR     0.61
Tonon Luxembourg SA        9.25    1/24/2020     USD     11.13
Depfa Funding IV LP        1.54                  EUR     57.33
Virgolino de Oliveira Finan10.88   1/13/2020     USD     28.50
OGX Austria GmbH           8.38    4/1/2022      USD     0.03
Bibby Offshore Services PLC7.50    6/15/2021     GBP     39.00
Banca Meridiana            1.25    11/12/2017    EUR     21.00
SAir Group                 0.13    7/7/2005      CHF     13.13
Karlie Group GmbH          5.00    6/25/2021     EUR     3.20
Sairgroup Finance BV       6.63    10/6/2010     EUR     10.75
Barclays Bank PLC          1.70    4/25/2034     USD     71.49
Northland Resources AB     4.00    10/15/2020    USD     0.19
Nationwide Building Society0.82                  GBP     72.00
Russian Railways JSC       8.70    5/18/2032     RUB     61.21
Alpha Bank AE              2.50    6/20/2022     EUR     37.73
Governo Portugues Consolida3.00                  EUR     71.40
CNP Assurances             2.00                  EUR     74.49
Banca Carige SpA           5.70    9/17/2020     EUR     50.02
Holdikks SAS               6.75    7/15/2021     EUR     56.31
Lloyds Bank PLC            2.39    7/5/2033      USD     72.26
Alpine Holding GmbH        5.25    6/10/2016     EUR     0.31
Barclays Bank PLC          1.84    11/1/2031     USD     68.00
Cooperatieve Rabobank UA   0.50    10/30/2043    MXN     12.39
Afren PLC                  11.50   2/1/2016      USD     0.17
Espirito Santo Financial Po5.13    5/30/2016     EUR     0.90
Talvivaara Mining Co PLC   9.75    4/4/2017      EUR     0.97
Svensk Exportkredit AB     0.50    4/24/2029     AUD     62.65
Societe Generale SA        11.50   10/3/2017     USD     48.10
Lehman Brothers Treasury Co5.00    9/22/2014     EUR     8.75
A-TEC Industries AG        5.75    11/2/2010     EUR     2.00
Enterprise Holdings LTD    7.00    9/26/2017     EUR     2.46
Rosneft Oil Co PJSC        10.65   12/3/2020     RUB     74.21
Deutsche Bank AG/London    0.18    1/31/2033     USD     55.35
Stichting Afwikkeling Onder2.42                  EUR     0.54
Solon SE                   1.38    12/6/2012     EUR     0.33
Lehman Brothers Treasury Co8.25    3/16/2035     EUR     8.75
Autonomous Community of Cat1.06    9/8/2024      EUR     74.07
Espirito Santo Financial Gr5.05    11/15/2025    EUR     0.71
Kaupthing ehf              5.75    10/4/2011     USD     17.63
Dannemora Mineral AB       11.75   3/22/2016     USD     0.40
Santander Finance Capital S2.00                  EUR     62.93
Svensk Exportkredit AB     0.50    8/29/2029     AUD     63.73
Bank Nederlandse Gemeenten 0.50    7/12/2022     ZAR     65.38
Orient Express Bank PJSC Vi8.17    6/27/2017     USD     50.00
Mifa Mitteldeutsche Fahrrad7.50    8/12/2018     EUR     2.82
Banco Espirito Santo SA    10.00   12/6/2021     EUR     0.73
Heta Asset Resolution AG   0.43    12/31/2023    EUR     39.88
Russian Railways JSC       8.20    3/21/2028     RUB     63.87
Svensk Exportkredit AB     0.50    6/29/2029     AUD     62.24
Rosneft Oil Co PJSC        11.40   12/3/2020     RUB     63.87
Hypo Tirol Bank AG         0.12    7/23/2026     EUR     64.21
Anglian Water Services Fina0.87    1/26/2057     GBP     72.72
Rosbank PJSC               9.80    12/20/2026    RUB     62.63
Tatfondbank OAO via TFB Fin8.50    11/12/2019    USD     0.18
Rosneft Oil Co PJSC        10.90   11/28/2024    RUB     64.03
Cooperatieve Rabobank UA   0.50    12/29/2027    MXN     43.36
Northland Resources AB     4.00    10/15/2020    NOK     0.23
APP International Finance C11.75   10/1/2005     USD     0.56
Gazprombank JSC            9.87    2/19/2021     RUB     63.87
IVG Immobilien AG          5.50                  EUR     1.08
BLT Finance BV             12.00   2/10/2015     USD     10.50
UBS AG/London              16.00   1/19/2018     USD     58.50
Banca Popolare di Vicenza  4.97    4/20/2027     EUR     61.13
wige MEDIA AG              6.00    3/17/2019     EUR     3.10
Hamburgische Landesbank-Gir0.05    1/22/2041     EUR     62.37
Rem Offshore ASA           5.00    12/8/2024     NOK     34.36
SAG Solarstrom AG          7.50    7/10/2017     EUR     33.63
Novo Banco SA              3.00    12/16/2021    EUR     64.46
DEMIRE Real Estate AG      6.00    12/30/2018    EUR     3.70
SiC Processing GmbH        7.13    3/1/2016      EUR     2.84
WPE International Cooperati10.38   9/30/2020     USD     15.88
Municipality Finance PLC   0.50    4/26/2022     ZAR     66.44
Steilmann SE               7.00    3/9/2017      EUR     2.35
Autonomous Community of Cat2.97    9/8/2039      JPY     64.40
Sberbank of Russia PJSC    0.01    4/26/2019     RUB     93.50
Alpine Holding GmbH        5.25    7/1/2015      EUR     0.31
Societe Generale SA        0.30    6/28/2033     USD     67.64
Minaya Capital AG          7.00    8/1/2018      EUR     65.00
Governo Portugues Consolida2.75                  EUR     63.20
Svensk Exportkredit AB     0.50    6/28/2022     ZAR     65.69
Virgolino de Oliveira Finan10.50   1/28/2018     USD     7.25
Accentro Real Estate AG    6.25    3/27/2019     EUR     10.00
Svensk Exportkredit AB     0.50    1/31/2022     ZAR     68.76
Santander Finance Capital S2.00                  USD     56.39
Hamburgische Landesbank-Gir0.05    10/30/2040    EUR     64.42
Eirles Two DAC             1.69    9/30/2046     USD     11.88
Lehman Brothers Treasury Co5.00    2/16/2015     EUR     8.75
Barclays Bank PLC          3.18    3/27/2029     USD     69.50
Paragon Offshore PLC       6.75    7/15/2022     USD     23.00
Lehman Brothers Treasury Co2.88    3/14/2013     CHF     8.75
Talvivaara Mining Co PLC   4.00    12/16/2015    EUR     0.27
SAir Group                 5.50    7/23/2003     CHF     13.99
Minicentrales Dos SA       6.45    4/14/2028     EUR     67.25
SAir Group                 4.25    2/2/2007      CHF     14.00
TES Finance PLC            6.75    7/15/2020     GBP     72.41
La Veggia Finance SPA      7.13    11/14/2004    EUR     0.39
Gazprom PJSC               5.10    10/21/2043    RUB     60.06
International Finance Facil0.50    6/29/2027     ZAR     39.10
Aralco Finance SA          10.13   5/7/2020      USD     2.10
MS Deutschland Beteiligungs6.88    12/18/2017    EUR     5.81
Stroika Finance Ltd Via Eme9.90    6/25/2019     RUB     12.00
Barclays Bank PLC          3.84    1/31/2029     USD     67.15
Oi Brasil Holdings Cooperat5.63    6/22/2021     EUR     35.75
Landesbank Hessen-Thueringe0.08    5/3/2041      EUR     71.62
ML 33 Invest AS            7.50                  NOK     68.91
Veneto Banca SpA           2.40    4/7/2020      EUR     75.85
Municipality Finance PLC   0.50    6/19/2024     ZAR     54.91
Elli Investments Ltd       12.25   6/15/2020     GBP     70.00
New World Resources NV     8.00    4/7/2020      EUR     5.13
Heta Asset Resolution AG   0.24    12/31/2023    EUR     39.88
UniCredit Bank Austria AG  0.02    1/25/2031     EUR     69.58
Rusfinans Bank OOO         10.10   6/30/2020     RUB     60.17
HSBC Bank PLC              0.50    6/23/2027     MXN     44.27
Rosbank PJSC               7.50    10/7/2024     RUB     60.13
Lehman Brothers Treasury Co6.65    8/24/2011     AUD     9.63
Montepio Holding SGPS SA   5.00                  EUR     50.20
Marfin Investment Group Hol7.00    7/29/2019     EUR     1.01
AKB Peresvet ZAO           13.50   10/16/2020    RUB     13.00
Petromena ASA              10.85   11/19/2017    USD     0.53
Lehman Brothers Treasury Co4.00    2/16/2017     EUR     8.75
Lloyds Bank PLC            2.70    4/25/2034     USD     67.50
Agroton Public Ltd         6.00    7/14/2019     USD     14.00
Santander Finance Capital S2.00                  USD     56.39
Northland Resources AB     15.00   7/15/2019     USD     0.41
Vorarlberger Landes- und Hy5.87                  EUR     51.28
Kaupthing ehf              6.13    10/4/2016     USD     17.63
New World Resources NV     4.00    10/7/2020     EUR     0.09
Portigon AG                7.46    12/31/2019    EUR     25.00
UkrLandFarming PLC         10.88   3/26/2018     USD     23.75
Banco BPI SA               1.78                  EUR     58.03
Marfin Investment Group Hol6.30    7/29/2020     EUR     1.01
Barclays Bank PLC          4.33    9/27/2028     USD     66.00
Fonciere Volta SA          4.50    7/30/2020     EUR     2.59
Far East Capital Ltd SA    8.75    5/2/2020      USD     71.60
Barclays Bank PLC          1.88    8/15/2033     USD     63.20
Rusfinans Bank OOO         8.90    4/24/2018     RUB     65.07
Rosbank PJSC               9.35    9/29/2025     RUB     60.16
Cooperatieve Rabobank UA   0.50    1/31/2033     MXN     27.07
Espirito Santo Financial Gr5.05    11/15/2025    EUR     0.74
Artea                      6.00    8/4/2019      EUR     15.00
Privatbank CJSC Via UK SPV 10.88   2/28/2018     USD     20.63
UBS AG                     24.10   9/28/2017     EUR     66.50
Veneto Banca SpA           5.41    5/25/2023     EUR     69.26
Agentstvo po Ipotechnomu Zh10.90   11/1/2022     RUB     102.00
Oberbank Hybrid 1 GmbH     0.87                  EUR     47.49
Depfa Funding II LP        6.50                  EUR     57.25
Kaupthing ehf              5.75    10/4/2011     USD     17.63
Landesbank Hessen-Thueringe0.09    4/23/2041     EUR     71.19
ADLER Real Estate AG       6.00    12/27/2018    EUR     13.75
Deutsche Bank AG/London    1.85    8/28/2034     USD     59.17
Virgolino de Oliveira Finan11.75   2/9/2022      USD     7.25
Virgolino de Oliveira Finan10.88   1/13/2020     USD     25.63
Barclays Bank PLC          0.48    4/19/2033     USD     56.00
MegaFon PJSC               9.90    5/29/2026     RUB     62.06
UBS AG                     5.60    3/4/2019      EUR     59.78
Oberoesterreichische Landes0.32    11/6/2030     EUR     69.77
UBS AG/London              1.29    5/29/2020     USD     9.75
Mriya Agro Holding PLC     9.45    4/19/2018     USD     4.00
Lehman Brothers Treasury Co7.00    6/6/2017      EUR     2.85
Societe Generale SA        0.28    6/28/2033     USD     74.13
Stichting Afwikkeling Onder6.63    5/14/2018     EUR     2.95
City of Moscow Russia      7.50    5/18/2021     RUB     60.01
Moscow United Electric Grid11.00   9/12/2024     RUB     62.00
International Industrial Ba9.00    7/6/2011      EUR     0.59
Lehman Brothers Treasury Co7.00    5/17/2035     EUR     8.75
Alpha Bank AE              2.50    6/20/2022     EUR     37.74
Rosneft Oil Co PJSC        14.90   12/3/2020     RUB     65.01
Kaupthing ehf              6.13    10/4/2016     USD     17.63
TES Finance PLC            5.29    7/15/2020     GBP     68.92
Norske Skogindustrier ASA  2.00    12/30/2115    EUR     4.56
Kaupthing ehf              5.25    7/18/2017     BGN     17.63
UniCredit Bank Austria AG  0.06    1/24/2031     EUR     67.49
Afren PLC                  10.25   4/8/2019      USD     0.01
United Engine Corp JSC     10.75   6/10/2026     RUB     110.00
Lloyds Bank PLC            2.52    7/26/2033     USD     67.38
BLT Finance BV             7.50    5/15/2014     USD     2.31
Rosneft Oil Co PJSC        9.85    1/18/2021     RUB     63.90
Vnesheconombank            9.76    12/17/2021    RUB     73.86
Kaupthing ehf              9.00                  USD     0.12
SAir Group                 6.25    4/12/2005     CHF     14.00
Veneto Banca SpA           5.15    1/25/2023     EUR     69.46
ENEL RUSSIA PJSC           12.10   5/22/2025     RUB     62.34
Vimpel-Communications PJSC 11.90   10/3/2025     RUB     63.06
WGF Westfaelische Grundbesi6.35    8/1/2017      EUR     0.51
Afren PLC                  6.63    12/9/2020     USD     0.05
United Aircraft Corp PJSC  8.00    3/17/2020     RUB     60.06
Veneto Banca SpA           2.40    3/31/2020     EUR     75.99
ING Bank Eurasia JSC       10.45   3/30/2021     RUB     101.32
Activa Resources AG        8.00    11/15/2017    EUR     17.90
Leonteq Securities AG      15.60   12/19/2017    CHF     65.90
Orient Express Bank PJSC   13.60   8/9/2018      RUB     65.00
Johnston Press Bond Plc    8.63    6/1/2019      GBP     63.88
Kreditanstalt fuer Wiederau0.25    10/6/2036     CAD     40.87
Lehman Brothers Treasury Co5.55    3/12/2015     EUR     2.85
Veneto Banca SpA           2.40    4/2/2020      EUR     75.95
Marine Subsea AS           9.00    12/16/2019    USD     0.44
German Pellets GmbH        8.00                  EUR     0.13
Lehman Brothers Treasury Co4.20    12/3/2008     HKD     9.63
Rena GmbH                  7.00    12/15/2015    EUR     9.38
SUEK Finance               12.50   8/19/2025     RUB     100.00
Kommunekredit              0.50    7/30/2027     TRY     34.46
Cattles Ltd                7.13    7/5/2017      GBP     0.27
City of Kiev Ukraine Via CS8.00    11/6/2015     USD     62.38
Moscow United Electric Grid10.00   5/26/2026     RUB     62.00
Synergy PJSC               9.75    5/28/2020     RUB     61.01
Atomenergoprom JSC         11.10   12/12/2025    RUB     70.01
Pierer Industrie AG        5.75                  EUR     63.71
Lehman Brothers Treasury Co5.00    2/27/2014     EUR     8.75
Rosneft Oil Co PJSC        10.40   12/3/2020     RUB     63.87
Veneto Banca SpA           2.40    4/1/2020      EUR     75.97
Agentstvo po Ipotechnomu Zh10.30   7/15/2023     RUB     73.86
Phones4u Finance PLC       9.50    4/1/2018      GBP     73.13
Muehl Product & Service AG 6.75    3/10/2005     DEM     2.35
Lehman Brothers Treasury Co3.50    6/20/2011     EUR     2.85
Lehman Brothers Treasury Co3.40    9/21/2009     HKD     2.85
SAir Group                 5.13    3/1/2003      CHF     15.00
Polski Bank Spoldzielczy w 4.81    6/22/2021     PLN     54.00
Sibur Holding PAO          9.65    9/16/2026     RUB     60.06
Bank Nederlandse Gemeenten 0.50    8/15/2022     ZAR     64.52
Banco Espirito Santo SA    1.22    5/27/2018     EUR     0.73
BKS Hybrid alpha GmbH      7.35                  EUR     60.82
Lehman Brothers Treasury Co7.00    11/26/2013    EUR     8.75
Svensk Exportkredit AB     0.50    3/15/2022     ZAR     67.16
Rossiysky Capital OJSC     10.50   1/20/2020     RUB     98.00
Bank Intesa AO             8.25    6/10/2018     RUB     60.17
Bilt Paper BV              9.64                  USD     30.75
Salvator Grundbesitz-AG    9.50    12/31/2021    EUR     9.80
Lenenergo PJSC             9.80    7/9/2025      RUB     60.01
EFG International Finance G2.10    3/23/2018     EUR     26.59
Bulgaria Steel Finance BV  12.00   5/4/2013      EUR     2.46
Lehman Brothers Treasury Co6.00    9/20/2011     EUR     2.85
Northland Resources AB     12.25   3/26/2016     USD     0.41
UmweltBank AG              2.85                  EUR     61.76
SAir Group                 2.13    11/4/2004     CHF     14.00
Lehman Brothers Treasury Co1.46    2/19/2012     JPY     8.75
Minicentrales Dos SA       4.81    11/29/2034    EUR     60.25
Nutritek International Corp8.75    12/11/2008    USD     2.00
Vnesheconombank            8.35    11/24/2020    RUB     73.86
EFG International Finance G6.00    11/30/2017    EUR     12.21
Municipality Finance PLC   0.50    7/30/2029     AUD     70.86
Russian Post FGUP          5.07    11/17/2023    RUB     70.01
Northland Resources AB     15.00   7/15/2019     USD     0.41
Delta Credit Bank JSC      9.65    10/1/2024     RUB     102.90
Delta Credit Bank JSC      10.55   6/5/2024      RUB     60.07
Main Road OJSC             4.10    11/22/2028    RUB     73.06
Rossiysky Capital OJSC     13.00   11/22/2019    RUB     70.01
Metalloinvest Holding Co OA0.01    3/7/2022      RUB     50.02
UniCredit Bank Austria AG  0.16    10/31/2031    EUR     67.31
Evrofinansy-Nedvizhimost OO11.00   10/23/2020    RUB     100.00
EFG International Finance G8.99    9/4/2017      EUR     2.15
Lehman Brothers Treasury Co5.00    5/2/2022      EUR     2.85
Svensk Exportkredit AB     0.50    3/28/2029     AUD     71.21
AKB Peresvet ZAO           13.25   4/25/2018     RUB     23.49
LBI HF                     7.43                  USD     0.00
Heliocentris Energy Solutio4.00    1/16/2019     EUR     18.13
Credit Suisse AG/London    8.00    11/29/2019    USD     6.05
HSBC Bank PLC              0.50    12/29/2026    AUD     68.20
BNP Paribas SA             0.50    5/6/2021      MXN     73.42
Bank Nederlandse Gemeenten 0.50    5/12/2021     ZAR     73.22
Svensk Exportkredit AB     0.50    6/20/2029     AUD     70.65
Lehman Brothers Treasury Co4.00    4/13/2011     CHF     2.85
Lehman Brothers Treasury Co4.60    10/11/2017    ILS     8.75
Lehman Brothers Treasury Co1.28    11/6/2010     JPY     8.75
SpareBank 1 SR-Bank ASA    4.00    12/21/2030    EUR     75.36
Finans-Avia OOO            0.01    7/31/2027     RUB     21.30
Ideal Standard Internationa11.75   5/1/2018      EUR     4.86
Russian Post FGUP          2.75    12/6/2023     RUB     60.06
Lehman Brothers Treasury Co6.00    3/14/2011     EUR     8.75
EFG International Finance G7.20    2/25/2019     EUR     12.88
BLT Finance BV             7.50    5/15/2014     USD     2.31
Lehman Brothers Treasury Co1.68    3/5/2015      EUR     2.85
SAir Group                 6.25    10/27/2002    CHF     14.00
Banca del Monte di Lucca-Sp2.48    6/29/2020     EUR     42.02
Rusfinans Bank OOO         10.90   10/2/2018     RUB     60.56
Lehman Brothers Treasury Co9.25    6/20/2012     USD     2.85
Lehman Brothers Treasury Co3.86    9/21/2011     SGD     9.63
Region of Molise Italy     0.13    12/15/2033    EUR     66.57
HPI AG                     3.50                  EUR     6.00
Royal Bank of Scotland PLC/1.84    8/26/2031     USD     65.60
Societe Generale SA        0.50    5/30/2023     MXN     62.85
Podkarpacki Bank Spoldzielc5.81    7/2/2020      PLN     70.04
SAir Group                 2.75    7/30/2004     CHF     13.88
Delta Credit Bank JSC      12.40   10/20/2025    RUB     63.77
Loan Portfolio Securitizati8.50    12/14/2018    USD     11.97
BELLAGIO Holding GmbH      2.18                  EUR     47.58
Lehman Brothers Treasury Co7.00    9/20/2011     USD     2.85
Kommunekredit              0.50    5/11/2029     CAD     75.06
Lehman Brothers Treasury Co5.00    5/12/2011     CHF     2.85
Oberoesterreichische Landes0.30    4/25/2042     EUR     54.76
BNP Paribas SA             0.50    9/29/2029     AUD     62.36
Leonteq Securities AG/Guern29.61   10/26/2017    EUR     29.86
Bank Nederlandse Gemeenten 0.50    9/20/2022     ZAR     63.87
BNP Paribas SA             0.50    7/20/2021     BRL     65.96
Atari SA                   7.50    2/17/2020     EUR     0.41
Transneft PJSC             0.01    10/9/2024     RUB     60.06
Polski Bank Spoldzielczy w 4.81    6/18/2020     PLN     51.00
Transneft PJSC             8.00    7/3/2025      RUB     62.00
Lehman Brothers Treasury Co11.00   12/20/2017    AUD     2.85
Barclays Bank PLC          0.55    3/28/2033     USD     59.70
Bank Nederlandse Gemeenten 0.50    6/22/2021     ZAR     71.48
HSBC Bank PLC              0.50    1/29/2027     NZD     69.11
UVS-Finance OOO            14.50   9/10/2019     RUB     63.91
Bank Nederlandse Gemeenten 0.50    9/20/2022     MXN     68.47
Atari SA                   0.10    4/1/2020      EUR     5.01
VEB-Leasing OAO            12.50   9/1/2025      RUB     62.00
Bank Nederlandse Gemeenten 0.50    8/9/2022      MXN     69.09
KPNQwest NV                8.88    2/1/2008      EUR     0.61
Rosintrud OOO              10.50   2/5/2021      RUB     60.00
Agentstvo po Ipotechnomu Zh9.80    7/15/2024     RUB     60.00
Freight One JSC            12.00   10/15/2025    RUB     100.00
Deutsche Bank AG/London    0.50    10/5/2021     IDR     67.68
Lehman Brothers Treasury Co5.00    8/16/2017     EUR     8.75
Solarwatt GmbH             7.00    11/1/2015     EUR     14.50
ECM Real Estate Investments5.00    10/9/2011     EUR     10.38
Kaupthing ehf              7.50    2/1/2045      USD     0.33
Hellas Telecommunications L8.50    10/15/2013    EUR     0.77
Barclays Bank PLC          7.12    10/4/2017     USD     37.01
Barclays Bank PLC          0.61    4/9/2028      USD     67.10
Raiffeisen Versicherung AG 2.02                  EUR     31.84
Sidetur Finance BV         10.00   4/20/2016     USD     3.85
Credit Suisse AG           0.50    12/16/2025    BRL     49.18
Societe Generale SA        1.60    1/9/2020      GBP     1.11
Lehman Brothers Treasury Co7.00    2/15/2010     CHF     2.85
Vegarshei Sparebank        4.99                  NOK     61.50
Barclays Bank PLC          0.50    4/24/2023     MXN     60.71
Lehman Brothers Treasury Co10.00   5/22/2009     USD     2.85
Podkarpacki Bank Spoldzielc5.01    10/6/2021     PLN     69.00
Rosselkhozbank JSC         12.87   12/21/2021    RUB     60.06
Agentstvo po Ipotechnomu Zh11.50   9/25/2018     RUB     70.00
Bank ZENIT PJSC            8.50    6/14/2024     RUB     60.07
LBI HF                     2.25    2/14/2011     CHF     7.13
Lehman Brothers Treasury Co8.00    3/19/2012     USD     2.85
LBI HF                     6.10    8/25/2011     USD     8.50
Municipiul Timisoara       0.80    5/15/2026     RON     68.00
Rinol AG                   5.50    10/15/2006    DEM     0.00
HSBC Bank PLC              0.50    6/10/2021     BRL     68.32
Freight One JSC            11.80   10/23/2025    RUB     65.11
Astana Finance BV          9.00    11/16/2011    USD     16.88
Lehman Brothers Treasury Co5.00    3/18/2015     EUR     8.75
Credit Agricole Corporate &0.50    3/6/2023      RUB     65.12
National Capital JSC       9.50    7/25/2018     RUB     60.06
Lehman Brothers Treasury Co4.00    7/27/2011     EUR     2.85
Er-Telekom Holding ZAO     10.85   12/1/2021     RUB     60.06
Kaupthing ehf              7.63    2/28/2015     USD     17.63
Russkiy Mezhdunarodnyi Bank12.00   11/14/2021    RUB     65.00
Polski Bank Spoldzielczy w 5.31    9/14/2027     PLN     50.00
Rosneft Oil Co PJSC        9.10    1/18/2021     RUB     63.87
Rostelecom PJSC            8.40    5/20/2025     RUB     60.06
Rossiysky Capital OJSC     10.50   1/16/2020     RUB     70.01
Nuova Banca delle Marche Sp7.75    6/30/2018     EUR     1.24
AKB Peresvet ZAO           13.00   10/7/2017     RUB     22.50
Espirito Santo Financial Po5.63    7/28/2017     EUR     1.04
Rosneft Oil Co PJSC        9.85    1/18/2021     RUB     63.87
Barclays Bank PLC          4.13    10/10/2029    USD     74.57
VEB-Leasing OAO            12.50   8/18/2025     RUB     62.00
Lehman Brothers Treasury Co6.00    10/24/2008    EUR     2.85
Lehman Brothers Treasury Co8.25    12/3/2015     EUR     8.75
Lehman Brothers Treasury Co8.00    2/16/2016     EUR     2.85
Landes-Hypothekenbank Steie0.06    3/7/2043      EUR     52.81
Metalloinvest Holding Co OA0.01    3/10/2022     RUB     60.02
BNP Paribas SA             0.50    11/16/2032    MXN     32.43
Rosneft Oil Co PJSC        9.85    1/18/2021     RUB     63.87
Raiffeisen Schweiz Genossen8.99    7/22/2019     EUR     27.98
Noyabrskaya Pge OOO        8.50    11/10/2020    RUB     60.00
SpareBank 1 Nordvest       3.66    3/11/2099     NOK     61.70
Lehman Brothers Treasury Co7.60    1/31/2013     AUD     2.85
Lehman Brothers Treasury Co10.00   6/17/2009     USD     2.85
Lehman Brothers Treasury Co6.00    3/18/2015     USD     8.75
Agrokompleks OOO           0.10    7/29/2019     RUB     4.65
Municipality Finance PLC   0.50    5/31/2022     ZAR     65.73
IDGC of the North Caucasus 13.00   4/22/2021     RUB     60.00
UniCredit Bank AO          12.00   11/20/2019    RUB     90.00
SG Issuer SA               5.50    4/10/2021     EUR     66.90
Leonteq Securities AG      5.20    8/14/2018     CHF     72.94
Salvator Grundbesitz-AG    9.50                  EUR     19.15
Pongs & Zahn AG            8.50                  EUR     0.11
Penell GmbH Elektrogroshand7.75    6/10/2019     EUR     5.00
AKB Peresvet ZAO           13.50   6/23/2021     RUB     12.49
Eiendomskreditt AS         4.15                  NOK     54.65
Barclays Bank PLC          0.50    1/28/2033     MXN     26.49
Lehman Brothers Treasury Co11.00   6/29/2009     EUR     2.85
Agentstvo po Ipotechnomu Zh15.30   11/1/2029     RUB     115.00
OOO SPV Structural Investme0.01    9/1/2023      RUB     65.24
Barclays Bank PLC          1.00    5/10/2019     JPY     59.42
Fininvest OOO              13.00   11/9/2018     RUB     1.56
UBS AG/London              3.81    10/28/2017    USD     69.05
Podkarpacki Bank Spoldzielc5.81    2/23/2025     PLN     60.00
Vnesheconombank            9.75    8/16/2029     RUB     60.00
Russian Railways JSC       13.90   5/30/2040     RUB
EFG International Finance G7.19    5/6/2019      EUR     13.66
Lehman Brothers Treasury Co0.50    12/20/2017    AUD     2.85
Phosphorus Holdco PLC      10.00   4/1/2019      GBP     1.28
Lloyds Bank PLC            0.50    7/26/2021     BRL     68.19
Lehman Brothers Treasury Co7.59    11/22/2009    MXN     8.75
Mriya Agro Holding PLC     10.95   3/30/2016     USD     6.38
Lehman Brothers Treasury Co4.50    12/30/2010    USD     2.85
Ekotechnika AG             9.75    5/10/2018     EUR     9.50
Araratbank OJSC            7.00    12/2/2017     USD     25.40
AKB Peresvet ZAO           12.75   7/24/2018     RUB     19.74
Lehman Brothers Treasury Co0.50    12/20/2017    AUD     2.85
Banca delle Marche SpA     6.00    5/8/2018      EUR     2.00
Lehman Brothers Treasury Co5.00    10/24/2008    CHF     2.85
Lehman Brothers Treasury Co4.25    3/13/2021     EUR     2.85
Lehman Brothers Treasury Co8.00    5/22/2009     USD     2.85
Agentstvo po Ipotechnomu Zh9.25    10/15/2030    RUB     100.00
MIK OAO                    15.00   2/19/2020     RUB     3.33
Araratbank OJSC            7.25    6/27/2018     USD     26.10
Societe Generale SA        7.00    10/20/2020    USD
COFIDUR SA                 0.10    12/31/2024    EUR     24.25
SUEK Finance               12.50   8/19/2025     RUB     100.00
Rusfinans Bank OOO         10.05   6/10/2019     RUB     61.07
DekaBank Deutsche Girozentr0.01    6/29/2046     EUR     54.79
Lehman Brothers Treasury Co13.50   11/28/2008    USD     2.85
Lehman Brothers Treasury Co14.90   9/15/2008     EUR     2.85
EDOB Abwicklungs AG        7.50    4/1/2012      EUR     0.56
BAWAG PSK Versicherungs AG 1.06                  EUR     54.32
Lehman Brothers Treasury Co7.60    5/21/2013     USD     2.85
AKB Peresvet ZAO           12.50   9/6/2017      RUB     21.55
Svensk Exportkredit AB     0.50    2/22/2022     ZAR     67.48
Leonteq Securities AG      17.00   8/17/2017     CHF     75.50
Rosneft Oil Co PJSC        9.85    1/18/2021     RUB     63.91
Union Technologies Informat0.10    1/1/2020      EUR     4.95
Atomenergoprom JSC         9.33    11/2/2026     RUB     63.87
Podkarpacki Bank Spoldzielc5.11    5/28/2023     PLN     56.00
EFG International Finance G6.48    5/29/2018     EUR     5.94
Societe Generale SA        0.50    7/6/2021      BRL     68.50
HSBC Bank PLC              0.50    4/11/2023     MXN     63.60
Lehman Brothers Treasury Co4.05    9/16/2008     EUR     2.85
Svensk Exportkredit AB     0.50    8/28/2020     TRY     69.92
Lehman Brothers Treasury Co10.00   1/3/2012      BRL     2.85
UniCredit Bank AG          0.37    11/19/2029    EUR     62.57
Lehman Brothers Treasury Co6.00    12/6/2016     USD     2.85
Lehman Brothers Treasury Co5.00    12/6/2011     EUR     2.85
Rusfinans Bank OOO         9.95    8/22/2019     RUB     100.50
Agrokor dd                 9.88    5/1/2019      EUR     15.11
Windreich GmbH             6.25    3/1/2015      EUR     11.00
Communaute Francaise de Bel0.50    6/27/2046     EUR     68.14
HSBC Bank PLC              0.50    4/27/2027     NZD     68.54
HSBC Bank PLC              0.50    2/24/2027     NZD     69.13
City of Siret Romania      2.32    3/1/2028      RON     50.00
Municipiul Timisoara       0.80    5/15/2026     RON     75.00
TGC-1 PJSC                 5.60    2/14/2022     RUB     60.07
ECA                        2.50    1/1/2018      EUR
Exane Finance SA           5.00    12/20/2019    SEK
Credit Suisse AG/London    10.00   6/28/2017     USD     61.35
Landesbank Baden-Wuerttembe4.00    8/25/2017     EUR     64.69
Lehman Brothers Treasury Co1.75    2/7/2010      EUR     2.85
EFG International Finance G12.86   10/30/2017    EUR     2.32
Leonteq Securities AG/Guern5.00    12/27/2019    EUR     69.02
UBS AG                     5.75    12/22/2017    EUR     57.67
Societe Generale SA        8.00    2/14/2022     USD     9.00
Societe Generale SA        0.50    8/4/2021      BRL     68.06
Lehman Brothers Treasury Co7.50    6/15/2017     USD     2.85
Municipality Finance PLC   0.25    6/28/2040     CAD     31.59
Lehman Brothers Treasury Co4.35    8/8/2016      SGD     9.63
Atomenergoprom JSC         9.33    12/3/2026     RUB     63.87
Lehman Brothers Treasury Co4.87    10/8/2013     USD     2.85
Lehman Brothers Treasury Co3.60    3/19/2018     JPY     2.85
Kommunalbanken AS          0.50    12/16/2020    TRY     72.54
HSBC Bank PLC              0.50    12/8/2026     AUD     72.59
Credit Suisse AG/Nassau    7.13    6/26/2017     CHF     66.24
HSBC Trinkaus & Burkhardt A6.50    1/29/2018     EUR     53.41
Eurocent SA                8.50    9/15/2018     PLN     24.01
Center for Cargo Container 9.40    9/16/2021     RUB     74.27
Lehman Brothers Treasury Co11.00   12/19/2011    USD     2.85
Lehman Brothers Treasury Co6.00    2/19/2023     USD     2.85
Lehman Brothers Treasury Co0.50    12/20/2017    AUD     9.63
Lehman Brothers Treasury Co7.00    10/22/2010    EUR     2.85
Lehman Brothers Treasury Co7.06    12/29/2008    EUR     2.85
Credit Suisse AG/London    0.50    1/8/2026      BRL     48.21
ENEL RUSSIA PJSC           12.10   9/28/2018     RUB     70.01
SAir Group                 2.75    7/30/2004     CHF     14.00
Rusfinans Bank OOO         8.75    9/29/2020     RUB     60.16
Raiffeisen Switzerland BV  3.50    8/25/2017     CHF     65.91
Societe Generale SA        1.00    12/22/2017    GBP     0.98
Orient Express Bank PJSC   11.70   7/17/2018     RUB     60.00
Lehman Brothers Treasury Co4.10    6/10/2014     SGD     9.63
Lehman Brothers Treasury Co13.43   1/8/2009      ILS     2.85
Lehman Brothers Treasury Co4.60    11/9/2011     EUR     8.75
Lehman Brothers Treasury Co8.25    2/3/2016      EUR     2.85
Lehman Brothers Treasury Co11.75   3/1/2010      EUR     2.85
IT Holding Finance SA      9.88    11/15/2012    EUR     1.63
Lehman Brothers Treasury Co4.95    10/25/2036    EUR     2.85
Windreich GmbH             6.75    3/1/2015      EUR     11.00
Driver & Bengsch AG        8.50    12/31/2027    EUR     0.00
ENEL RUSSIA PJSC           12.10   5/22/2025     RUB     60.06
Bayerische Landesbank      2.70    6/22/2018     EUR     73.13
Araratbank OJSC            8.00    6/10/2018     USD     25.88
Rosselkhozbank JSC         10.60   7/14/2025     RUB     62.01
Erste Group Bank AG        9.25    6/29/2017     EUR     53.55
Bayerische Landesbank      2.70    7/6/2018      EUR     67.59
Landesbank Baden-Wuerttembe3.40    11/24/2017    EUR     68.34
Western High-Speed Diameter10.44   5/13/2031     RUB     73.87
Lehman Brothers Treasury Co0.25    10/19/2012    CHF     2.85
Lehman Brothers Treasury Co11.00   12/20/2017    AUD     2.85
Lehman Brothers Treasury Co4.05    9/16/2008     EUR     2.85
IKB Deutsche Industriebank 0.66    5/25/2031     EUR     63.19
Agentstvo po Ipotechnomu Zh10.83   2/1/2034      RUB     100.00
UBS AG/London              5.00    8/14/2017     CHF     52.00
VEB-Leasing OAO            8.65    1/16/2024     RUB     62.00
Societe Generale SA        0.50    4/3/2023      RUB     64.96
Cerruti Finance SA         6.50    7/26/2004     EUR     1.10
Lehman Brothers Treasury Co7.50    10/24/2008    USD     2.85
Lehman Brothers Treasury Co5.10    6/22/2046     EUR     2.85
Lehman Brothers Treasury Co7.75    1/3/2012      AUD     2.85
Barclays Bank PLC          1.99    12/1/2040     USD     74.21
Barclays Bank PLC          4.70    3/27/2029     USD     74.25
Russian Railways JSC       5.10    5/20/2044     RUB
TGC-1 PJSC                 5.60    12/14/2021    RUB     60.07
HSBC Bank PLC              0.50    11/25/2025    BRL     45.34
Kerdos Group SA            8.00    12/15/2017    PLN
Polski Bank Spoldzielczy w 4.81    11/26/2024    PLN     45.00
Leonteq Securities AG      15.20   10/11/2017    CHF     67.47
Landesbank Baden-Wuerttembe3.55    8/25/2017     EUR     66.96
Province of Brescia Italy  0.11    12/22/2036    EUR     63.41
Lehman Brothers Treasury Co2.50    11/9/2011     CHF     2.85
Kaupthing ehf              5.00    1/4/2027      SKK     17.63
UniCredit Bank AG          4.60    6/30/2017     EUR     51.50
Russian Railways JSC       9.85    4/26/2041     RUB     106.84
Expobank LLC               12.50   7/12/2019     RUB     60.05
Upravlenie Otkhodami ZAO   4.00    4/29/2027     RUB     67.58
UBS AG                     4.50    12/22/2017    EUR     56.89
AKB Peresvet ZAO           2.54    9/2/2020      RUB     11.34
Leonteq Securities AG      11.00   4/20/2018     USD     67.98
Lehman Brothers Treasury Co4.50    5/2/2017      EUR     8.75
UniCredit Bank Austria AG  0.15    1/22/2031     EUR     71.73
Kaupthing ehf              3.75    2/15/2024     ISK     17.63
Lehman Brothers Treasury Co0.50    6/2/2020      EUR     2.85
Lehman Brothers Treasury Co1.50    10/25/2011    EUR     2.85
Lehman Brothers Treasury Co4.00    10/24/2012    EUR     2.85
Lehman Brothers Treasury Co4.50    3/6/2013      CHF     2.85
Lehman Brothers Treasury Co5.25    5/26/2026     EUR     2.85
Lehman Brothers Treasury Co6.50    7/24/2026     EUR     2.85
Lehman Brothers Treasury Co4.60    7/6/2016      EUR     0.14
Lehman Brothers Treasury Co11.00   7/4/2011      CHF     2.85
Lehman Brothers Treasury Co0.50    7/2/2020      EUR     2.85
Lehman Brothers Treasury Co4.00    12/2/2012     EUR     2.85
Lehman Brothers Treasury Co10.44   11/22/2008    CHF     2.85
Kaupthing ehf              9.75    9/10/2015     USD     17.63
Lehman Brothers Treasury Co3.03    1/31/2015     EUR     2.85
Lehman Brothers Treasury Co0.50    8/1/2020      EUR     2.85
Lehman Brothers Treasury Co5.50    4/23/2014     EUR     2.85
Lehman Brothers Treasury Co2.00    6/28/2011     EUR     2.85
Lehman Brothers Treasury Co1.00    5/9/2012      EUR     2.85
HSBC Bank PLC              0.50    6/9/2023      MXN     62.73
Credit Suisse AG/London    3.00    11/15/2025    ZAR     67.49
Main Road OJSC             4.10    10/30/2029    RUB     73.87
Admiral Boats SA           8.50    9/18/2017     PLN     25.01
Commerzbank AG             30.00   6/30/2020     USD     3.64
Bayerische Landesbank      2.60    10/19/2018    EUR     65.24
Bayerische Landesbank      2.70    7/27/2018     EUR     72.73
Bayerische Landesbank      2.70    7/13/2018     EUR     71.55
Raiffeisen Switzerland BV  9.00    4/1/2019      EUR     19.39
Landesbank Baden-Wuerttembe3.75    9/22/2017     EUR     65.93
Landesbank Baden-Wuerttembe3.90    9/22/2017     EUR     63.81
LBI HF                     7.43                  USD     0.00
HSBC Bank PLC              0.50    10/30/2026    NZD     70.01
DekaBank Deutsche Girozentr2.75    2/2/2018      EUR     72.76
Credit Suisse AG/Nassau    5.25    5/14/2018     CHF     71.42
DekaBank Deutsche Girozentr3.40    4/9/2018      EUR     57.94
Barclays Bank PLC          0.50    3/13/2023     RUB     65.20
Kommunekredit              0.50    12/14/2020    ZAR     74.69
Lehman Brothers Treasury Co4.00    3/10/2011     EUR     2.85
Lehman Brothers Treasury Co10.60   4/22/2014     MXN     2.85
HSBC Bank PLC              0.50    12/22/2025    BRL     45.03
Cooperatieve Rabobank UA   0.50    11/30/2027    MXN     43.17
Cooperatieve Rabobank UA   0.50    10/29/2027    MXN     44.71
BNP Paribas Emissions- und 24.00   12/21/2017    EUR     66.01
Royal Bank of Scotland PLC/6.20    9/7/2018      GBP     1.07
Lehman Brothers Treasury Co6.30    12/21/2018    USD     2.85
Bashneft PJSC              12.00   5/19/2025     RUB     60.00
Agentstvo po Ipotechnomu Zh9.50    1/15/2029     RUB     100.00
Leonteq Securities AG      3.00    9/19/2019     CHF     52.19
Barclays Bank PLC          0.50    3/19/2021     MXN     73.04
Barclays Bank PLC          0.50    3/26/2021     MXN     72.37
Cooperatieve Rabobank UA   0.50    8/21/2028     MXN     40.86
Lehman Brothers Treasury Co4.00    7/20/2012     EUR     2.85
LBI HF                     8.65    5/1/2011      ISK     7.13
Lehman Brothers Treasury Co13.50   6/2/2009      USD     2.85
DZ Bank AG Deutsche Zentral8.20    3/23/2018     EUR     66.31
DZ Bank AG Deutsche Zentral7.40    12/22/2017    EUR     66.08
DZ Bank AG Deutsche Zentral7.40    3/23/2018     EUR     67.70
World of Building Technolog9.90    6/25/2019     RUB     0.44
HSBC Trinkaus & Burkhardt A13.80   12/22/2017    EUR     62.18
HSBC Trinkaus & Burkhardt A10.80   8/25/2017     EUR     63.92
HSBC Trinkaus & Burkhardt A10.10   11/24/2017    EUR     66.34
BNP Paribas Emissions- und 16.00   12/21/2017    EUR     59.06
BNP Paribas Emissions- und 8.00    6/21/2018     EUR     70.65
BNP Paribas Emissions- und 15.00   11/23/2017    EUR     60.09
BNP Paribas Emissions- und 8.00    12/21/2017    EUR     67.65
BNP Paribas Emissions- und 13.00   12/21/2017    EUR     63.20
BNP Paribas Emissions- und 15.00   12/21/2017    EUR     61.50
BNP Paribas Emissions- und 9.00    6/21/2018     EUR     68.21
BNP Paribas Emissions- und 12.00   6/21/2018     EUR     65.23
BNP Paribas Emissions- und 13.00   6/21/2018     EUR     63.64
BNP Paribas Emissions- und 13.00   11/23/2017    EUR     62.25
Leonteq Securities AG/Guern8.00    6/28/2018     CHF     0.40
Commerzbank AG             15.50   9/20/2017     EUR     56.06
Commerzbank AG             13.50   12/20/2017    EUR     58.96
Ashinskiy metallurgical wor5.60    6/17/2024     RUB     65.01
Commerzbank AG             14.00   1/24/2018     EUR     60.52
EFG International Finance G14.00   3/8/2018      CHF     66.08
UBS AG/London              12.50   9/22/2017     EUR     61.98
Vontobel Financial Products13.00   12/22/2017    EUR     60.47
Vontobel Financial Products13.50   9/22/2017     EUR     60.24
BNP Paribas Emissions- und 12.00   10/26/2017    EUR     64.30
BNP Paribas Emissions- und 19.00   9/21/2017     EUR     55.78
BNP Paribas Emissions- und 10.00   10/26/2017    EUR     67.37
BNP Paribas Emissions- und 13.00   10/26/2017    EUR     61.62
BNP Paribas Emissions- und 15.00   10/26/2017    EUR     58.97
BNP Paribas Emissions- und 19.00   10/26/2017    EUR     57.89
BNP Paribas Emissions- und 10.00   9/21/2017     EUR     66.82
BNP Paribas Emissions- und 12.00   9/21/2017     EUR     63.52
Vontobel Financial Products8.50    9/22/2017     EUR     66.19
Vontobel Financial Products7.50    12/22/2017    EUR     67.84
Vontobel Financial Products11.00   12/22/2017    EUR     62.41
Leonteq Securities AG/Guern9.00    6/29/2018     CHF     0.38
Kubanenergo PJSC           12.63   11/11/2025    RUB     60.01
Eiendomskreditt AS         5.10                  NOK     65.36
YamalStroiInvest           14.25   4/24/2021     RUB     65.70
Promcapital                7.00    7/30/2019     RUB     93.10
National Capital JSC       9.25    4/22/2019     RUB     60.06
Sankt-Peterburg Telecom OAO10.70   1/31/2022     RUB     62.63
Center-Invest Commercial Ba8.70    11/13/2018    RUB     59.00
HSBC Bank PLC              0.50    7/21/2021     BRL     68.80
Lehman Brothers Treasury Co1.60    6/21/2010     JPY     2.85
Lehman Brothers Treasury Co2.40    6/20/2011     JPY     2.85
Societe Generale SA        0.50    6/12/2023     RUB     63.84
National Capital JSC       9.25    4/22/2019     RUB     60.06
Lloyds Bank PLC            0.50    7/26/2028     MXN     46.22
Commerzbank AG             1.00    2/19/2020     USD     27.62
Raiffeisen Schweiz Genossen5.00    6/6/2018      CHF     73.15
Raiffeisen Schweiz Genossen6.50    7/2/2018      USD     52.44
BNP Paribas Emissions- und 15.00   12/21/2017    EUR     69.49
BNP Paribas Emissions- und 16.00   12/21/2017    EUR     65.88
BNP Paribas Emissions- und 18.00   12/21/2017    EUR     63.45
BNP Paribas Emissions- und 9.00    9/21/2017     EUR     56.48
BNP Paribas Emissions- und 10.00   9/21/2017     EUR     54.01
Bank VTB 24 JSC            9.00    9/15/2044     RUB
Vesta ZAO                  12.50   12/4/2026     RUB     99.40
Bank VTB 24 JSC            9.00    9/1/2044      RUB
Agrokompleks OOO           0.10    12/8/2022     RUB     4.60
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     51.89
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     75.14
BNP Paribas Emissions- und 26.00   12/21/2017    EUR     65.71
BNP Paribas Emissions- und 26.00   12/21/2017    EUR     64.82
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     53.38
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     66.88
BNP Paribas Emissions- und 15.00   12/21/2017    EUR     72.34
BNP Paribas Emissions- und 26.00   12/21/2017    EUR     61.91
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     70.75
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     65.68
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     70.82
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     65.49
BNP Paribas Emissions- und 26.00   12/21/2017    EUR     62.79
BNP Paribas Emissions- und 29.00   12/21/2017    EUR     58.13
BNP Paribas Emissions- und 23.00   12/21/2017    EUR     55.14
BNP Paribas Emissions- und 29.00   12/21/2017    EUR     72.21
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     65.11
BNP Paribas Emissions- und 22.00   12/21/2017    EUR     59.00
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     52.63
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     61.32
BNP Paribas Emissions- und 22.00   12/21/2017    EUR     67.22
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     71.60
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     64.79
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     59.65
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     71.34
BNP Paribas Emissions- und 29.00   12/21/2017    EUR     64.13
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     71.43
BNP Paribas Emissions- und 22.00   12/21/2017    EUR     71.73
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     62.25
BNP Paribas Emissions- und 26.00   12/21/2017    EUR     73.91
BNP Paribas Emissions- und 19.00   12/21/2017    EUR     73.91
BNP Paribas Emissions- und 26.00   12/21/2017    EUR     69.72
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     66.22
BNP Paribas Emissions- und 6.00    12/21/2017    EUR     45.77
BNP Paribas Emissions- und 10.00   12/21/2017    EUR     39.16
BNP Paribas Emissions- und 13.00   12/21/2017    EUR     35.71
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     29.26
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     63.79
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     62.39
BNP Paribas Emissions- und 13.00   12/21/2017    EUR     73.88
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     55.83
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     53.47
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     73.51
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     72.48
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     72.24
BNP Paribas Emissions- und 15.00   12/21/2017    EUR     61.78
BNP Paribas Emissions- und 19.00   12/21/2017    EUR     53.04
BNP Paribas Emissions- und 22.00   12/21/2017    EUR     48.26
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     45.03
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     42.82
BNP Paribas Emissions- und 13.00   12/21/2017    EUR     70.97
BNP Paribas Emissions- und 19.00   12/21/2017    EUR     60.78
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     50.39
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     45.16
BNP Paribas Emissions- und 19.00   12/21/2017    EUR     68.92
BNP Paribas Emissions- und 22.00   12/21/2017    EUR     63.73
BNP Paribas Emissions- und 25.00   12/21/2017    EUR     59.87
BNP Paribas Emissions- und 27.00   12/21/2017    EUR     56.49
BNP Paribas Emissions- und 28.00   12/21/2017    EUR     72.18
Credit Suisse AG/London    9.20    10/28/2019    USD     9.82
UBS AG                     11.41   4/26/2019     USD     9.86
UBS AG                     12.10   4/26/2019     USD     9.02
Commerzbank AG             15.50   8/23/2017     EUR     55.86
Vontobel Financial Products5.00    9/22/2017     EUR     69.63
Vontobel Financial Products9.05    9/22/2017     EUR     62.55
Vontobel Financial Products13.50   9/22/2017     EUR     57.24
Vontobel Financial Products16.05   9/22/2017     EUR     55.13
Vontobel Financial Products4.50    12/22/2017    EUR     70.54
Vontobel Financial Products7.00    12/22/2017    EUR     63.87
Vontobel Financial Products12.00   12/22/2017    EUR     57.27
Vontobel Financial Products16.00   12/22/2017    EUR     54.55
Vontobel Financial Products20.00   12/22/2017    EUR     50.89
HSBC Trinkaus & Burkhardt A8.70    9/22/2017     EUR     66.32
HSBC Trinkaus & Burkhardt A14.20   12/22/2017    EUR     60.92
HSBC Trinkaus & Burkhardt A11.20   8/25/2017     EUR     62.35
HSBC Trinkaus & Burkhardt A10.50   11/24/2017    EUR     64.68
UBS AG/London              7.10    9/29/2017     EUR     66.30
BNP Paribas Emissions- und 19.00   12/21/2017    EUR     61.76
BNP Paribas Emissions- und 12.00   12/21/2017    EUR     52.54
BNP Paribas Emissions- und 12.00   9/21/2017     EUR     49.80
BNP Paribas Emissions- und 16.00   9/21/2017     EUR     44.92
BNP Paribas Emissions- und 9.00    12/21/2017    EUR     58.36
BNP Paribas Emissions- und 10.00   12/21/2017    EUR     56.19
SG Issuer SA               0.80    11/30/2020    SEK     63.22
Raiffeisen Schweiz Genossen6.50    7/11/2017     CHF     67.86
Raiffeisen Schweiz Genossen6.00    7/11/2017     CHF     67.95
EFG International Finance G7.35    12/28/2017    CHF     69.79
Credit Suisse AG/Nassau    7.25    7/13/2017     CHF     65.37
PA Urals Optical & Mechanic14.25   12/25/2018    RUB     70.01
Vontobel Financial Products4.00    11/9/2017     EUR     67.57
Kubanenergo PJSC           10.44   11/21/2025    RUB     60.01
Goldman Sachs & Co Wertpapi13.00   12/20/2017    EUR     71.56
Goldman Sachs & Co Wertpapi10.00   12/20/2017    EUR     66.79
Goldman Sachs & Co Wertpapi11.00   12/20/2017    EUR     63.05
Goldman Sachs & Co Wertpapi11.00   12/20/2017    EUR     65.09
HSBC Trinkaus & Burkhardt A13.40   9/22/2017     EUR     55.92
HSBC Trinkaus & Burkhardt A12.10   3/23/2018     EUR     60.16
HSBC Trinkaus & Burkhardt A11.30   3/23/2018     EUR     60.88
HSBC Trinkaus & Burkhardt A8.30    3/23/2018     EUR     64.63
HSBC Trinkaus & Burkhardt A5.80    3/23/2018     EUR     70.14
HSBC Trinkaus & Burkhardt A11.00   8/25/2017     EUR     57.41
HSBC Trinkaus & Burkhardt A10.40   11/24/2017    EUR     59.75
Deutsche Bank AG           5.20    7/26/2017     EUR     72.00
Deutsche Bank AG           7.20    7/26/2017     EUR     72.20
Deutsche Bank AG           9.20    7/26/2017     EUR     72.30
Zurcher Kantonalbank Financ4.75    12/11/2017    CHF     69.76
Goldman Sachs & Co Wertpapi15.00   9/20/2017     EUR     73.09
Goldman Sachs & Co Wertpapi14.00   9/20/2017     EUR     71.18
DekaBank Deutsche Girozentr3.50    10/28/2019    EUR     67.84
Bank Julius Baer & Co Ltd/G5.50    11/6/2017     CHF     59.25
SG Issuer SA               0.82    8/2/2021      SEK     68.71
EFG International Finance G17.00   8/3/2018      USD     69.54
Leonteq Securities AG      7.00    11/6/2017     CHF     45.74
BNP Paribas Emissions- und 8.00    9/21/2017     EUR     66.36
Vontobel Financial Products7.00    12/22/2017    EUR     65.62
Vontobel Financial Products5.50    12/22/2017    EUR     68.82
Vontobel Financial Products13.00   12/22/2017    EUR     59.03
Vontobel Financial Products11.00   12/22/2017    EUR     60.89
Vontobel Financial Products10.00   12/22/2017    EUR     61.94
Vontobel Financial Products9.00    12/22/2017    EUR     63.08
Vontobel Financial Products6.50    12/22/2017    EUR     67.29
Vontobel Financial Products14.00   12/22/2017    EUR     58.20
Vontobel Financial Products12.00   12/22/2017    EUR     59.92
Vontobel Financial Products8.00    12/22/2017    EUR     64.30
UBS AG/London              6.50    1/25/2018     CHF     74.05
BNP Paribas Emissions- und 13.00   9/21/2017     EUR     60.40
BNP Paribas Emissions- und 10.00   6/21/2018     EUR     66.62
HSBC Trinkaus & Burkhardt A10.10   2/23/2018     EUR     65.21
HSBC Trinkaus & Burkhardt A11.60   3/23/2018     EUR     63.93
HSBC Trinkaus & Burkhardt A8.40    3/23/2018     EUR     68.18
Commerzbank AG             9.25    1/25/2018     EUR     70.67
Commerzbank AG             12.75   1/25/2018     EUR     65.56
Commerzbank AG             16.50   1/25/2018     EUR     61.98
Bank Julius Baer & Co Ltd/G6.00    7/24/2017     CHF     74.10
Commerzbank AG             8.50    12/21/2017    EUR     67.79
Commerzbank AG             12.25   12/21/2017    EUR     62.58
Commerzbank AG             16.25   12/21/2017    EUR     58.88
UBS AG/London              7.40    9/22/2017     EUR     59.12
UBS AG/London              9.40    6/22/2018     EUR     60.84
Corner Banca SA            20.00   7/10/2018     CHF     70.66
DZ Bank AG Deutsche Zentral7.10    9/22/2017     EUR     60.12
DZ Bank AG Deutsche Zentral7.10    12/22/2017    EUR     61.86
Polbrand sp zoo            9.00    10/2/2017     PLN     50.00
Commerzbank AG             11.50   7/26/2017     EUR     43.05
Barclays Bank PLC          10.00   9/15/2017     USD
UBS AG/London              6.40    12/8/2017     EUR     49.81
UBS AG/London              9.60    12/8/2017     EUR     45.72
BNP Paribas Emissions- und 16.00   9/21/2017     EUR     43.33
BNP Paribas Emissions- und 5.00    10/26/2017    EUR     56.01
BNP Paribas Emissions- und 6.00    10/26/2017    EUR     53.43
BNP Paribas Emissions- und 9.00    10/26/2017    EUR     49.96
BNP Paribas Emissions- und 13.00   10/26/2017    EUR     45.46
BNP Paribas Emissions- und 5.00    12/21/2017    EUR     56.42
BNP Paribas Emissions- und 6.00    12/21/2017    EUR     54.25
BNP Paribas Emissions- und 9.00    12/21/2017    EUR     51.09
BNP Paribas Emissions- und 13.00   12/21/2017    EUR     45.87
BNP Paribas Emissions- und 5.00    9/21/2017     EUR     55.34
BNP Paribas Emissions- und 6.00    9/21/2017     EUR     52.87
BNP Paribas Emissions- und 9.00    9/21/2017     EUR     48.90
BNP Paribas Emissions- und 13.00   9/21/2017     EUR     44.42
BNP Paribas Emissions- und 13.00   10/26/2017    EUR     71.87
BNP Paribas Emissions- und 13.00   12/21/2017    EUR     73.83
BNP Paribas Emissions- und 13.00   9/21/2017     EUR     70.34
BNP Paribas Emissions- und 13.00   10/26/2017    EUR     71.39
City of Predeal Romania    1.50    5/15/2026     RON     60.00
Landesbank Baden-Wuerttembe2.90    7/27/2018     EUR     69.47
Raiffeisen Centrobank AG   13.01   12/20/2017    EUR     57.24
Raiffeisen Centrobank AG   7.54    12/28/2018    EUR     57.93
HSBC Trinkaus & Burkhardt A7.50    9/22/2017     EUR     64.09
HSBC Trinkaus & Burkhardt A9.30    4/27/2018     EUR     66.21
Credit Suisse AG/London    8.50    3/13/2018     USD     72.79
HSBC Trinkaus & Burkhardt A8.40    9/22/2017     EUR     46.52
HSBC Trinkaus & Burkhardt A4.80    9/22/2017     EUR     52.56
HSBC Trinkaus & Burkhardt A3.00    9/22/2017     EUR     57.83
Credit Suisse AG/London    8.00    9/28/2021     USD     9.94
UBS AG/London              6.00    10/5/2017     CHF     53.05
Araratbank OJSC            7.00    6/18/2019     USD     25.98
UBS AG/London              6.90    6/22/2018     EUR     63.84
UBS AG/London              8.20    6/22/2018     EUR     62.27
UBS AG/London              9.90    9/22/2017     EUR     56.72
Commerzbank AG             4.00    7/19/2017     EUR     52.95
Bank Julius Baer & Co Ltd/G7.85    7/28/2017     USD     49.00
UBS AG/London              14.50   7/20/2017     USD     49.70
Leonteq Securities AG      20.00   10/25/2017    CHF     60.57
Commerzbank AG             7.25    10/26/2017    EUR     57.17
Commerzbank AG             10.50   10/26/2017    EUR     52.22
Commerzbank AG             14.25   10/26/2017    EUR     48.59
UBS AG/London              11.60   12/29/2017    EUR     47.41
UBS AG/London              5.30    12/29/2017    EUR     54.37
UBS AG/London              7.00    9/22/2017     EUR     53.29
UBS AG/London              13.00   9/27/2017     EUR     44.69
Royal Bank of Scotland PLC/1.33    10/26/2018    GBP     1.06
UniCredit Bank AG          4.60    7/2/2018      EUR     59.21
Commerzbank AG             5.80    10/8/2017     EUR     72.63
DZ Bank AG Deutsche Zentral5.60    9/8/2017      EUR     73.34
Raiffeisen Schweiz Genossen4.50    3/27/2018     EUR     57.66
DekaBank Deutsche Girozentr2.70    3/16/2018     EUR     70.82
Leonteq Securities AG      7.00    9/20/2017     CHF     73.00
Leonteq Securities AG      3.50    4/10/2018     EUR     57.37
Leonteq Securities AG      7.00    10/19/2017    CHF     72.75
Norddeutsche Landesbank Gir3.00    10/30/2018    EUR     62.20
Landesbank Baden-Wuerttembe3.25    8/25/2017     EUR     65.67
Bayerische Landesbank      3.20    7/27/2018     EUR     69.68
Landesbank Baden-Wuerttembe3.00    6/28/2019     EUR     72.38
Commerzbank AG             4.40    4/29/2019     EUR     72.72
DekaBank Deutsche Girozentr3.25    4/20/2018     EUR     58.27
Landesbank Hessen-Thueringe4.00    6/5/2019      EUR     70.86
Raiffeisen Schweiz Genossen4.00    5/8/2018      CHF     61.37
DekaBank Deutsche Girozentr2.75    10/29/2018    EUR     59.36
DekaBank Deutsche Girozentr3.00    4/30/2019     EUR     69.77
UniCredit Bank AG          5.00    7/30/2018     EUR     71.25
Landesbank Baden-Wuerttembe3.55    8/25/2017     EUR     73.40
Landesbank Baden-Wuerttembe4.00    6/22/2018     EUR     67.44
Landesbank Baden-Wuerttembe3.60    6/22/2018     EUR     64.01
UBS AG                     7.40    5/17/2021     CHF     46.79
Raiffeisen Schweiz Genossen4.20    5/22/2019     CHF     74.42
Landesbank Baden-Wuerttembe3.00    7/26/2019     EUR     73.46
DekaBank Deutsche Girozentr2.80    5/13/2019     EUR     64.40
Bayerische Landesbank      2.90    6/22/2018     EUR     72.45
Bank Julius Baer & Co Ltd/G23.00   8/4/2017      USD     69.50
Commerzbank AG             7.00    7/27/2017     EUR     50.53
Commerzbank AG             10.25   7/27/2017     EUR     45.25
Commerzbank AG             14.25   7/27/2017     EUR     41.14
Vontobel Financial Products4.65    7/24/2017     EUR     66.90
Raiffeisen Schweiz Genossen6.70    7/24/2017     EUR     69.17
DZ Bank AG Deutsche Zentral8.70    12/22/2017    EUR     59.58
Credit Suisse AG/London    11.70   4/20/2018     USD     10.21
Gold-Zack AG               7.00    12/14/2005    EUR     12.58
UBS AG/London              7.00    7/17/2017     CHF     53.80
HSBC Trinkaus & Burkhardt A4.30    9/22/2017     EUR     71.89
HSBC Trinkaus & Burkhardt A13.40   12/22/2017    EUR     59.15
HSBC Trinkaus & Burkhardt A7.80    12/22/2017    EUR     65.94
HSBC Trinkaus & Burkhardt A10.40   8/25/2017     EUR     60.49
HSBC Trinkaus & Burkhardt A9.70    11/24/2017    EUR     62.63
HSBC Trinkaus & Burkhardt A3.90    9/22/2017     EUR     67.24
HSBC Trinkaus & Burkhardt A10.70   8/25/2017     EUR     55.90
HSBC Trinkaus & Burkhardt A8.84    12/22/2017    EUR     68.38
HSBC Trinkaus & Burkhardt A13.80   12/22/2017    EUR     55.59
HSBC Trinkaus & Burkhardt A11.90   12/22/2017    EUR     57.10
HSBC Trinkaus & Burkhardt A10.20   11/24/2017    EUR     58.22
HSBC Trinkaus & Burkhardt A4.60    12/22/2017    EUR     68.35
Podkarpacki Bank Spoldzielc5.81    3/31/2025     PLN     68.10
DekaBank Deutsche Girozentr0.12    6/23/2034     EUR     71.88
Promnefteservis OOO        10.50   11/21/2019    RUB     1.15
Transgazservice LLP        10.50   11/8/2019     RUB     0.07
Podkarpacki Bank Spoldzielc5.81    10/24/2024    PLN     66.00
Landesbank Baden-Wuerttembe3.40    9/28/2018     EUR     73.23
UBS AG/London              9.25    6/26/2017     CHF     67.20
UBS AG/London              7.00    6/26/2017     EUR     63.00
Landesbank Baden-Wuerttembe3.70    7/27/2018     EUR     71.76
UBS AG/London              9.40    6/30/2017     EUR     48.15
EFG International Finance G7.20    6/26/2017     GBP     1.79
Zurcher Kantonalbank Financ8.50    7/17/2017     CHF     58.49
Zurcher Kantonalbank Financ9.00    7/17/2017     EUR     71.00
UBS AG/London              7.50    7/3/2017      EUR     60.75
Banque Cantonale Vaudoise  7.25    7/3/2017      CHF     55.65
Landesbank Baden-Wuerttembe2.60    8/23/2019     EUR     69.21
Landesbank Baden-Wuerttembe4.50    8/25/2017     EUR     73.65
Landesbank Baden-Wuerttembe5.00    8/25/2017     EUR     58.13
UBS AG/London              8.00    7/31/2017     CHF     70.70
Landesbank Baden-Wuerttembe3.00    8/25/2017     EUR     65.89
Landesbank Baden-Wuerttembe4.00    8/25/2017     EUR     61.53
Landesbank Baden-Wuerttembe4.00    8/25/2017     EUR     75.89
EFG International Finance G7.20    7/29/2020     EUR     27.67
Credit Suisse AG/Nassau    5.50    8/3/2017      EUR     71.65
BNP Paribas Emissions- und 3.25    11/24/2017    EUR     73.07
Landesbank Baden-Wuerttembe3.50    7/27/2018     EUR     67.97
Landesbank Baden-Wuerttembe3.40    7/27/2018     EUR     67.73
UniCredit Bank AG          3.80    7/23/2020     EUR     68.26
UniCredit Bank AG          4.40    7/13/2018     EUR     66.75
Bayerische Landesbank      2.40    7/20/2018     EUR     74.29
Raiffeisen Schweiz Genossen6.50    6/26/2017     EUR     65.59
Norddeutsche Landesbank Gir3.00    7/16/2018     EUR     71.94
Landesbank Hessen-Thueringe4.00    4/30/2019     EUR     69.38
DekaBank Deutsche Girozentr3.25    5/18/2018     EUR     74.06
Raiffeisen Schweiz Genossen4.20    4/10/2018     EUR     59.44
Bayerische Landesbank      2.70    7/6/2018      EUR     67.70
EFG International Finance G6.40    4/9/2020      EUR     73.22
Zurcher Kantonalbank Financ6.50    4/10/2018     CHF     60.85
Landesbank Baden-Wuerttembe3.00    10/27/2017    EUR     71.34
Landesbank Baden-Wuerttembe5.00    10/27/2017    EUR     65.17
Landesbank Baden-Wuerttembe5.00    10/27/2017    EUR     62.43
Landesbank Baden-Wuerttembe4.00    10/27/2017    EUR     66.85
Landesbank Baden-Wuerttembe3.60    9/22/2017     EUR     70.37
Landesbank Baden-Wuerttembe3.25    7/28/2017     EUR     73.56
Landesbank Baden-Wuerttembe3.00    7/28/2017     EUR     74.46
Landesbank Baden-Wuerttembe3.25    7/28/2017     EUR     69.62
Landesbank Baden-Wuerttembe3.70    8/25/2017     EUR     72.25
Landesbank Baden-Wuerttembe3.70    9/22/2017     EUR     65.42
Landesbank Baden-Wuerttembe3.20    9/22/2017     EUR     62.61
Landesbank Baden-Wuerttembe3.00    6/28/2019     EUR     66.79
Landesbank Baden-Wuerttembe2.50    6/28/2019     EUR     68.67
Landesbank Baden-Wuerttembe3.00    6/28/2019     EUR     71.48
Landesbank Baden-Wuerttembe3.50    6/22/2018     EUR     63.31
UBS AG/London              8.25    8/7/2017      EUR     70.75
Lehman Brothers Treasury Co3.50    10/31/2011    USD     2.85
Lehman Brothers Treasury Co5.00    2/28/2032     EUR     2.85
Lehman Brothers Treasury Co3.50    10/24/2011    USD     2.85
Lehman Brothers Treasury Co6.00    2/14/2012     EUR     2.85
Lehman Brothers Treasury Co15.00   3/30/2011     EUR     2.85
Lehman Brothers Treasury Co10.00   2/16/2009     CHF     2.85
Kaupthing ehf              7.50    12/5/2014     ISK     17.63
Lehman Brothers Treasury Co6.25    11/30/2012    EUR     2.85
Lehman Brothers Treasury Co1.00    2/26/2010     USD     2.85
Lehman Brothers Treasury Co2.37    7/15/2013     USD     2.85
Lehman Brothers Treasury Co2.30    6/27/2013     USD     2.85
Lehman Brothers Treasury Co5.38    2/4/2014      USD     2.85
Kaupthing ehf              6.50    10/8/2010     ISK     17.63
Lehman Brothers Treasury Co13.00   2/16/2009     CHF     2.85
Lehman Brothers Treasury Co11.00   2/16/2009     CHF     2.85
Lehman Brothers Treasury Co0.50    12/20/2017    USD     2.85
Lehman Brothers Treasury Co0.50    12/20/2017    USD     2.85
Lehman Brothers Treasury Co8.80    12/27/2009    EUR     2.85
Lehman Brothers Treasury Co11.00   12/20/2017    AUD     2.85
Lehman Brothers Treasury Co4.00    1/4/2011      USD     2.85
Lehman Brothers Treasury Co0.50    12/20/2017    USD     2.85
Lehman Brothers Treasury Co0.50    12/20/2017    AUD     2.85
Lehman Brothers Treasury Co9.30    12/21/2010    EUR     2.85
Lehman Brothers Treasury Co0.50    12/20/2017    AUD     2.85
Lehman Brothers Treasury Co14.90   11/16/2010    EUR     2.85
Lehman Brothers Treasury Co6.00    10/30/2012    USD     2.85
Lehman Brothers Treasury Co5.50    11/30/2012    CZK     2.85
Lehman Brothers Treasury Co6.00    10/30/2012    EUR     2.85
LBI HF                     5.08    3/1/2013      ISK     7.13
Lehman Brothers Treasury Co2.00    6/21/2011     EUR     2.85
Lehman Brothers Treasury Co5.00    3/13/2009     EUR     2.85
Lehman Brothers Treasury Co3.00    12/3/2012     EUR     2.85
KPNQwest NV                8.88    2/1/2008      EUR     0.61
Lehman Brothers Treasury Co3.00    8/13/2011     EUR     2.85
Lehman Brothers Treasury Co8.05    12/20/2010    HKD     2.85
Lehman Brothers Treasury Co8.00    10/23/2008    USD     2.85
Lehman Brothers Treasury Co12.22   11/21/2017    USD     2.85
Lehman Brothers Treasury Co4.80    11/16/2012    HKD     2.85
Lehman Brothers Treasury Co16.00   10/8/2008     CHF     2.85
Lehman Brothers Treasury Co6.72    12/29/2008    EUR     2.85
Lehman Brothers Treasury Co6.60    2/9/2009      EUR     2.85
Lehman Brothers Treasury Co18.25   10/2/2008     USD     2.85
Lehman Brothers Treasury Co5.12    4/30/2027     EUR     2.85
Lehman Brothers Treasury Co7.75    2/21/2016     EUR     2.85
Lehman Brothers Treasury Co8.00    12/27/2032    JPY     2.85
RGS Nedvizhimost OOO       12.50   7/22/2021     RUB     60.10
RGS Nedvizhimost OOO       12.50   1/19/2021     RUB     99.80
TransFin-M PAO             12.50   8/11/2025     RUB     100.00
UniCredit Bank AG          4.50    9/19/2017     EUR     54.25
Landesbank Hessen-Thueringe5.00    10/17/2017    EUR     64.04
Landesbank Hessen-Thueringe4.50    11/28/2017    EUR     66.60
UniCredit Bank AG          4.00    6/26/2018     EUR     63.54
Reso-Leasing OOO           13.25   10/30/2025    RUB     61.00
Societe Generale SA        0.50    5/22/2024     MXN     57.75
Svensk Exportkredit AB     0.50    8/25/2021     ZAR     70.06
Leonteq Securities AG      5.00    9/4/2018      CHF     58.65
Leonteq Securities AG      5.60    9/4/2017      CHF     67.00
Leonteq Securities AG      5.60    9/11/2017     CHF     56.40
DekaBank Deutsche Girozentr2.80    7/22/2019     EUR     73.89
Leonteq Securities AG      6.77    8/17/2017     CHF     56.43
Ekspatel OOO               18.00   8/22/2018     RUB     66.01
Leonteq Securities AG      5.40    8/28/2017     CHF     55.89
Raiffeisen Centrobank AG   9.85    12/20/2017    EUR     59.30
Raiffeisen Centrobank AG   6.23    12/28/2018    EUR     62.04
Commerzbank AG             8.50    2/22/2018     EUR     70.76
Commerzbank AG             12.00   2/22/2018     EUR     66.01
Commerzbank AG             15.75   2/22/2018     EUR     62.71
Raiffeisen Switzerland BV  22.20   9/1/2017      USD     63.31
DZ Bank AG Deutsche Zentral8.30    9/22/2017     EUR     46.05
HSBC Trinkaus & Burkhardt A1.75    8/25/2017     EUR     57.31
Deutsche Bank AG           6.20    9/19/2017     EUR     73.80
Leonteq Securities AG/Guern16.20   11/30/2017    USD     24.87
HSBC Trinkaus & Burkhardt A8.95    12/22/2017    EUR     61.03
HSBC Trinkaus & Burkhardt A11.90   8/25/2017     EUR     66.24
HSBC Trinkaus & Burkhardt A9.50    9/22/2017     EUR     70.78
HSBC Trinkaus & Burkhardt A13.70   12/22/2017    EUR     65.29
HSBC Trinkaus & Burkhardt A12.70   12/22/2017    EUR     66.52
DZ Bank AG Deutsche Zentral9.75    12/22/2017    EUR     66.22
HSBC Trinkaus & Burkhardt A14.10   9/22/2017     EUR     63.84
HSBC Trinkaus & Burkhardt A11.00   11/24/2017    EUR     68.64
Barclays Bank PLC          1.85    7/24/2028     USD     71.50
TransFin-M PAO             13.00   9/3/2025      RUB     63.87
National Capital JSC       10.50   9/15/2020     RUB     60.06
Commerzbank AG             20.00   5/28/2018     SEK     46.20
Landesbank Baden-Wuerttembe3.85    8/25/2017     EUR     64.61
Societe Generale Effekten G4.00    6/26/2017     EUR     51.01
Landesbank Baden-Wuerttembe3.25    12/22/2017    EUR     69.34
Landesbank Baden-Wuerttembe3.25    1/26/2018     EUR     64.36
Landesbank Hessen-Thueringe4.00    1/16/2018     EUR     59.26
Landesbank Baden-Wuerttembe3.00    2/23/2018     EUR     64.47
Credit Suisse AG/London    2.75    1/29/2019     SEK     73.17
Landesbank Baden-Wuerttembe3.15    6/22/2018     EUR     66.21
UniCredit Bank AG          4.40    9/19/2018     EUR     71.77
UBS AG                     9.50    12/22/2017    EUR     67.42
UBS AG                     5.25    12/22/2017    EUR     61.04
UBS AG                     8.25    12/22/2017    EUR     70.47
UBS AG                     11.75   12/22/2017    EUR     52.43
UBS AG                     7.75    12/22/2017    EUR     64.75
UBS AG                     10.25   12/22/2017    EUR     53.87
UBS AG                     10.25   12/22/2017    EUR     41.74
UBS AG                     5.00    12/22/2017    EUR     65.08
UBS AG                     8.50    12/22/2017    EUR     46.05
UBS AG                     11.75   12/22/2017    EUR     37.86
UBS AG                     8.75    12/22/2017    EUR     70.88
UBS AG                     4.00    12/22/2017    EUR     71.96
UBS AG                     10.25   12/22/2017    EUR     64.36
UBS AG                     11.75   12/22/2017    EUR     59.25
UBS AG                     7.50    12/22/2017    EUR     49.94
UBS AG                     13.00   12/22/2017    EUR     67.32
UBS AG                     6.75    12/22/2017    EUR     53.50
UBS AG                     9.50    12/22/2017    EUR     62.87
UBS AG                     7.75    12/22/2017    EUR     67.75
UBS AG                     8.25    12/22/2017    EUR     48.01
UBS AG                     10.50   12/22/2017    EUR     56.95
UBS AG                     6.25    12/22/2017    EUR     53.11
UBS AG                     11.25   12/22/2017    EUR     70.80
UBS AG                     8.25    12/22/2017    EUR     58.80
UBS AG                     4.50    12/22/2017    EUR     65.78
UBS AG                     10.50   12/22/2017    EUR     58.54
UBS AG                     9.50    12/22/2017    EUR     57.77
UBS AG                     6.50    12/22/2017    EUR     53.24
EFG International Finance G10.15   8/2/2017      CHF     69.46
Leonteq Securities AG      10.20   10/24/2018    EUR     68.03
HSBC Trinkaus & Burkhardt A2.50    9/22/2017     EUR     56.17
Vontobel Financial Products4.80    5/14/2018     EUR     73.05
Landesbank Hessen-Thueringe4.00    5/16/2018     EUR     66.51
HSBC Trinkaus & Burkhardt A10.90   10/27/2017    EUR     62.33
HSBC Trinkaus & Burkhardt A10.10   1/26/2018     EUR     64.46
Vontobel Financial Products16.00   12/22/2017    EUR     57.92
Vontobel Financial Products5.00    3/23/2018     EUR     71.70
Vontobel Financial Products6.00    3/23/2018     EUR     68.43
Vontobel Financial Products7.50    3/23/2018     EUR     65.97
Vontobel Financial Products9.00    3/23/2018     EUR     63.83
Vontobel Financial Products10.50   3/23/2018     EUR     62.00
Vontobel Financial Products12.50   3/23/2018     EUR     60.81
Vontobel Financial Products14.50   3/23/2018     EUR     59.86
DZ Bank AG Deutsche Zentral5.00    2/6/2018      EUR     69.61
UniCredit Bank AG          3.75    9/7/2020      EUR     70.15
UBS AG/London              9.30    9/29/2017     EUR     63.06
UBS AG/London              5.30    6/30/2017     EUR     73.04
UBS AG/London              5.20    9/29/2017     EUR     69.99
UBS AG/London              7.70    6/30/2017     EUR     68.55
UBS AG/London              14.00   6/30/2017     EUR     61.11
UBS AG/London              10.60   12/29/2017    EUR     62.72
UBS AG/London              10.60   6/30/2017     EUR     64.60
UBS AG/London              7.00    12/29/2017    EUR     67.82
UBS AG/London              8.80    12/29/2017    EUR     65.09
UBS AG/London              11.70   9/29/2017     EUR     60.48
UBS AG/London              12.60   12/29/2017    EUR     60.77
UBS AG/London              5.40    12/29/2017    EUR     71.29
UBS AG/London              17.90   6/30/2017     EUR     58.01
UBS AG/London              14.30   9/29/2017     EUR     58.10
Commerzbank AG             12.75   11/23/2017    EUR     66.25
Commerzbank AG             16.75   11/23/2017    EUR     61.81
HSBC Trinkaus & Burkhardt A2.80    9/22/2017     EUR     59.41
First Collection Bureau OJS15.00   10/15/2021    RUB     100.00
UniCredit Bank AG          5.00    6/25/2019     EUR     60.96
Landesbank Hessen-Thueringe5.00    3/27/2019     EUR     68.62
Bayerische Landesbank      2.60    3/29/2018     EUR     70.60
UniCredit Bank AG          3.75    10/2/2020     EUR     67.18
Landesbank Hessen-Thueringe4.00    4/8/2019      EUR     62.49
UBS AG/London              7.00    12/22/2017    EUR     63.24
UBS AG/London              12.50   12/22/2017    EUR     74.33
UBS AG/London              9.50    12/22/2017    EUR     73.51
UBS AG/London              7.75    12/22/2017    EUR     60.28
Leonteq Securities AG/Guern4.40    8/28/2017     CHF     62.61
Raiffeisen Schweiz Genossen5.04    8/28/2017     CHF     64.64
Leonteq Securities AG/Guern4.68    8/29/2017     CHF     66.63
UBS AG/London              9.00    12/22/2017    EUR     56.80
UBS AG/London              5.75    12/22/2017    EUR     69.58
UBS AG/London              6.25    12/22/2017    EUR     67.41
UBS AG/London              14.50   12/22/2017    EUR     70.81
Raiffeisen Schweiz Genossen5.00    8/29/2018     CHF     74.60
Raiffeisen Schweiz Genossen5.00    6/13/2018     CHF     72.61
UBS AG                     9.00    7/3/2017      CHF     67.65
Bank Julius Baer & Co Ltd/G5.20    9/25/2017     EUR     69.65
DekaBank Deutsche Girozentr7.15    10/27/2017    EUR     71.50
EFG International Finance G7.00    11/27/2019    EUR     17.64
Goldman Sachs International1.00    12/5/2017     SEK     22.22
UniCredit Bank AG          4.30    10/17/2018    EUR     70.83
Landesbank Baden-Wuerttembe3.30    6/22/2018     EUR     67.81
UniCredit Bank AG          4.30    12/22/2017    EUR     67.77
DekaBank Deutsche Girozentr3.30    2/26/2018     EUR     52.96
Landesbank Baden-Wuerttembe3.00    5/25/2018     EUR     71.50
UBS AG                     5.00    12/22/2017    EUR     64.90
Landesbank Baden-Wuerttembe3.05    6/22/2018     EUR     73.04
Raiffeisen Schweiz Genossen4.50    5/23/2018     CHF     73.21
Raiffeisen Schweiz Genossen3.00    9/22/2020     CHF     63.47
DZ Bank AG Deutsche Zentral3.45    8/25/2017     EUR     70.28
DekaBank Deutsche Girozentr2.75    6/24/2019     EUR     70.36
Vontobel Financial Products8.00    9/29/2017     EUR     68.98
Landesbank Baden-Wuerttembe6.00    9/22/2017     EUR     71.81
Landesbank Baden-Wuerttembe3.00    9/22/2017     EUR     71.08
Leonteq Securities AG      6.00    10/12/2017    CHF     62.79
Goldman Sachs & Co Wertpapi9.00    9/20/2017     EUR     66.27
BNP Paribas Emissions- und 3.00    10/12/2018    EUR     71.42
Goldman Sachs & Co Wertpapi12.00   9/20/2017     EUR     60.44
Goldman Sachs & Co Wertpapi12.00   9/20/2017     EUR     58.51
UBS AG/London              9.50    9/4/2017      CHF     26.45
Deutsche Bank AG           3.20    11/22/2017    EUR     70.80
Deutsche Bank AG           4.20    11/22/2017    EUR     74.20
Deutsche Bank AG           3.20    11/22/2017    EUR     72.60
DekaBank Deutsche Girozentr3.10    8/4/2017      EUR     52.33
HSBC Trinkaus & Burkhardt A3.00    6/22/2018     EUR     66.44
HSBC Trinkaus & Burkhardt A7.90    9/22/2017     EUR     50.85
HSBC Trinkaus & Burkhardt A5.40    9/22/2017     EUR     55.40
HSBC Trinkaus & Burkhardt A2.90    9/22/2017     EUR     62.99
DZ Bank AG Deutsche Zentral9.25    7/28/2017     EUR     63.26
UBS AG/London              9.50    9/22/2017     EUR     48.13
UBS AG/London              12.50   9/22/2017     EUR     44.33
DZ Bank AG Deutsche Zentral8.70    12/22/2017    EUR     49.36
DZ Bank AG Deutsche Zentral10.10   12/22/2017    EUR     46.96
HSBC Trinkaus & Burkhardt A12.70   9/22/2017     EUR     45.89
HSBC Trinkaus & Burkhardt A10.30   9/22/2017     EUR     49.20
HSBC Trinkaus & Burkhardt A7.50    9/22/2017     EUR     54.52
Credit Suisse AG/London    8.50    9/18/2017     USD     64.41
Deutsche Bank AG           6.20    9/19/2017     EUR     74.80
UBS AG/London              6.30    12/29/2017    EUR     52.35
Raiffeisen Schweiz Genossen15.00   12/27/2017    CHF     59.81
Leonteq Securities AG      10.00   4/20/2018     CHF     67.95
Leonteq Securities AG      17.60   12/19/2017    USD     66.25
Vontobel Financial Products18.40   9/11/2017     EUR     62.15
Nuova Banca delle Marche Sp7.20    6/30/2018     EUR     1.24
Nuova Banca delle Marche Sp8.00    6/30/2018     EUR     1.24
Societe Generale SA        0.50    4/30/2023     RUB     64.41
Lillestroem Sparebank      4.44                  NOK     56.32
Nota-Bank OJSC             13.50   4/1/2016      RUB     31.50
Univer Capital LLC         12.00   3/6/2019      RUB     97.07
Indre Sogn Sparebank       5.84                  NOK     55.77
Societe Generale SA        0.50    4/4/2024      MXN     58.43
Lehman Brothers Treasury Co8.28    3/26/2009     USD     2.85
Lehman Brothers Treasury Co7.55    12/29/2008    USD     2.85
Lehman Brothers Treasury Co6.85    12/22/2008    EUR     2.85
Lehman Brothers Treasury Co7.60    3/26/2009     EUR     2.85
Banca delle Marche SpA     6.00    6/12/2018     EUR     2.00
Lehman Brothers Treasury Co5.25    11/21/2009    USD     2.85
Lehman Brothers Treasury Co4.10    8/23/2010     USD     2.85
Lehman Brothers Treasury Co1.50    2/8/2012      CHF     2.85
Lehman Brothers Treasury Co0.01    9/20/2011     USD     2.85
Lehman Brothers Treasury Co4.69    2/19/2017     EUR     2.85
Lehman Brothers Treasury Co6.00    5/12/2017     EUR     2.85
Lehman Brothers Treasury Co7.00    2/15/2012     EUR     2.85
KPNQwest NV                7.13    6/1/2009      EUR     0.53
Lehman Brothers Treasury Co7.39    5/4/2017      USD     2.85
KPNQwest NV                7.13    6/1/2009      EUR     0.53
Lehman Brothers Treasury Co3.35    10/13/2016    EUR     2.85
Lehman Brothers Treasury Co0.80    12/30/2016    EUR     2.85
Lehman Brothers Treasury Co6.75    4/5/2012      EUR     2.85
Lehman Brothers Treasury Co4.25    5/15/2010     EUR     2.85
Lehman Brothers Treasury Co5.00    4/24/2017     EUR     2.85
Lehman Brothers Treasury Co13.00   7/25/2012     EUR     2.85
Lehman Brothers Treasury Co10.00   8/2/2037      JPY     2.85
Lehman Brothers Treasury Co2.25    5/12/2009     USD     2.85
Lehman Brothers Treasury Co4.00    5/30/2010     USD     2.85
Astana Finance BV          7.88    6/8/2010      EUR     16.88
Lehman Brothers Treasury Co6.00    5/23/2018     CZK     2.85
Lehman Brothers Treasury Co12.00   7/13/2037     JPY     2.85
Lehman Brothers Treasury Co10.00   6/11/2038     JPY     2.85
Lehman Brothers Treasury Co9.00    5/15/2022     USD     2.85
Lehman Brothers Treasury Co5.20    3/19/2018     EUR     2.85
Lehman Brothers Treasury Co7.50    5/2/2017      EUR     2.85
Lehman Brothers Treasury Co6.60    2/22/2012     EUR     2.85
Lehman Brothers Treasury Co4.10    2/19/2010     EUR     2.85
Lehman Brothers Treasury Co2.48    5/12/2009     USD     2.85
Lehman Brothers Treasury Co4.00    5/17/2010     USD     2.85
Lehman Brothers Treasury Co6.00    12/30/2017    EUR     2.85
Lehman Brothers Treasury Co7.63    7/22/2011     HKD     2.85
Lehman Brothers Treasury Co1.50    10/12/2010    EUR     2.85
ECM Real Estate Investments5.00    10/9/2011     EUR     10.38
Lehman Brothers Treasury Co2.50    12/15/2011    GBP     2.85
Lehman Brothers Treasury Co7.25    6/20/2010     USD     2.85
Lehman Brothers Treasury Co4.00    11/24/2016    EUR     2.85
Province of Brescia Italy  0.14    6/30/2036     EUR     64.07
Lehman Brothers Treasury Co4.82    12/18/2036    EUR     2.85
Lehman Brothers Treasury Co4.50    3/7/2015      EUR     2.85
Lehman Brothers Treasury Co0.75    3/29/2012     EUR     2.85
Municipality Finance PLC   0.50    11/25/2020    ZAR     74.97
Lehman Brothers Treasury Co6.00    7/28/2010     EUR     2.85
Lehman Brothers Treasury Co12.00   7/4/2011      EUR     2.85
Lehman Brothers Treasury Co3.50    12/20/2027    USD     2.85
Kaupthing ehf              7.00    7/24/2009     ISK     17.63
Lehman Brothers Treasury Co0.25    7/21/2014     EUR     2.85
Lehman Brothers Treasury Co5.50    6/15/2009     CHF     2.85
Lehman Brothers Treasury Co7.25    10/6/2008     EUR     2.85
Lehman Brothers Treasury Co10.50   8/9/2010      EUR     2.85
Lehman Brothers Treasury Co5.75    6/15/2009     CHF     2.85
Lehman Brothers Treasury Co4.50    7/24/2014     EUR     2.85
Lehman Brothers Treasury Co10.00   3/27/2009     USD     2.85
Lehman Brothers Treasury Co7.00    4/14/2009     EUR     2.85
Lehman Brothers Treasury Co7.75    1/30/2009     EUR     2.85
Lehman Brothers Treasury Co8.00    8/3/2009      USD     2.85
Lehman Brothers Treasury Co9.00    6/13/2009     USD     2.85
Lehman Brothers Treasury Co2.50    8/23/2012     GBP     2.85
Lehman Brothers Treasury Co7.50    9/13/2009     CHF     2.85
Lehman Brothers Treasury Co8.50    7/6/2009      CHF     2.85
Lehman Brothers Treasury Co5.25    4/1/2023      EUR     2.85
Lehman Brothers Treasury Co4.00    4/24/2009     USD     2.85
Lehman Brothers Treasury Co4.50    8/2/2009      USD     2.85
Lehman Brothers Treasury Co7.00    11/28/2008    CHF     2.85
Lehman Brothers Treasury Co8.00    5/22/2009     USD     2.85
Lehman Brothers Treasury Co3.00    9/13/2010     JPY     8.75
Lehman Brothers Treasury Co9.00    3/17/2009     GBP     2.85
Lehman Brothers Treasury Co3.85    4/24/2009     USD     2.85
Lehman Brothers Treasury Co7.38    9/20/2008     EUR     2.85
Lehman Brothers Treasury Co2.00    11/16/2009    EUR     2.85
Lehman Brothers Treasury Co3.70    6/6/2009      EUR     2.85
Lehman Brothers Treasury Co13.00   12/14/2012    USD     2.85
Petromena ASA              9.75    5/24/2016     NOK     0.53
Lehman Brothers Treasury Co4.68    12/12/2045    EUR     2.85
Lehman Brothers Treasury Co6.70    4/21/2011     USD     2.85
Lehman Brothers Treasury Co3.00    9/12/2036     JPY     8.75
Lehman Brothers Treasury Co6.00    6/21/2011     EUR     2.85
Lehman Brothers Treasury Co4.00    10/12/2010    USD     2.85
Lehman Brothers Treasury Co8.88    1/28/2011     HKD     9.63
Lehman Brothers Treasury Co7.00    7/11/2010     EUR     2.85
Lehman Brothers Treasury Co6.00    7/28/2010     EUR     2.85
HSBC Bank PLC              0.50    12/8/2020     BRL     72.96
Lehman Brothers Treasury Co11.00   7/4/2011      USD     2.85
Lehman Brothers Treasury Co7.50    8/1/2035      EUR     2.85
Lehman Brothers Treasury Co16.00   12/26/2008    USD     2.85
Lehman Brothers Treasury Co8.60    7/31/2013     GBP     2.85
Lehman Brothers Treasury Co4.15    8/25/2020     EUR     2.85
Lehman Brothers Treasury Co5.50    7/8/2013      EUR     2.85
Lehman Brothers Treasury Co7.50    7/31/2013     GBP     2.85
Lehman Brothers Treasury Co7.32    7/31/2013     GBP     2.85
Lehman Brothers Treasury Co8.28    7/31/2013     GBP     2.85
Lehman Brothers Treasury Co5.00    8/1/2025      EUR     2.85
Lehman Brothers Treasury Co4.90    7/28/2020     EUR     2.85
Lehman Brothers Treasury Co3.10    6/4/2010      USD     2.85
Lehman Brothers Treasury Co8.00    4/20/2009     EUR     2.85
Lehman Brothers Treasury Co4.70    3/23/2016     EUR     2.85
Lehman Brothers Treasury Co6.00    3/17/2011     EUR     2.85
Lehman Brothers Treasury Co4.70    3/23/2016     EUR     2.85
Lehman Brothers Treasury Co7.60    3/4/2010      NZD     2.85
Lehman Brothers Treasury Co15.00   6/4/2009      CHF     2.85
Lehman Brothers Treasury Co17.00   6/2/2009      USD     2.85
Lehman Brothers Treasury Co5.00    11/22/2012    EUR     2.85
Lehman Brothers Treasury Co4.00    8/11/2010     USD     8.75
Lehman Brothers Treasury Co4.30    6/4/2012      USD     2.85
Lehman Brothers Treasury Co0.50    2/16/2009     EUR     2.85
Oberbank AG                7.40                  EUR     67.39
Province of Rovigo Italy   0.06    12/28/2035    EUR     65.08
Lehman Brothers Treasury Co10.00   1/4/2010      USD     2.85
Lehman Brothers Treasury Co6.00    8/7/2013      EUR     2.85
Lehman Brothers Treasury Co6.50    5/16/2015     EUR     2.85
Lehman Brothers Treasury Co2.50    8/15/2012     CHF     2.85
Lehman Brothers Treasury Co3.50    9/29/2017     EUR     2.85
Lehman Brothers Treasury Co3.00    8/8/2017      EUR     2.85
Lehman Brothers Treasury Co5.00    9/1/2011      EUR     2.85
Lehman Brothers Treasury Co5.25    7/8/2014      EUR     2.85
Lehman Brothers Treasury Co2.30    6/6/2013      USD     2.85
Lehman Brothers Treasury Co11.00   5/9/2020      USD     2.85
Lehman Brothers Treasury Co4.00    6/5/2011      USD     2.85
Lehman Brothers Treasury Co6.25    9/5/2011      EUR     2.85
Lehman Brothers Treasury Co3.50    9/19/2017     EUR     2.85
Lehman Brothers Treasury Co16.80   8/21/2009     USD     2.85
Lehman Brothers Treasury Co3.00    8/15/2017     EUR     2.85
Lehman Brothers Treasury Co13.15   10/30/2008    USD     2.85
Lehman Brothers Treasury Co7.80    3/31/2018     USD     2.85
Lehman Brothers Treasury Co5.22    3/1/2024      EUR     2.85
Lehman Brothers Treasury Co9.50    4/1/2018      USD     2.85
Lehman Brothers Treasury Co8.00    10/17/2014    EUR     2.85
Lehman Brothers Treasury Co7.05    4/8/2015      USD     2.85
Lehman Brothers Treasury Co6.00    3/4/2015      USD     2.85
Lehman Brothers Treasury Co7.15    3/21/2013     USD     2.85
Lehman Brothers Treasury Co2.00    5/17/2010     EUR     2.85
Lehman Brothers Treasury Co2.30    4/28/2014     JPY     2.85
Lehman Brothers Treasury Co7.50    2/14/2010     AUD     2.85
Lehman Brothers Treasury Co4.00    2/28/2010     EUR     2.85
Lehman Brothers Treasury Co4.10    5/20/2009     USD     2.85
Lehman Brothers Treasury Co4.60    8/1/2013      EUR     2.85
Lehman Brothers Treasury Co9.75    6/22/2018     USD     2.85
Lehman Brothers Treasury Co8.00    3/21/2018     USD     2.85
Lehman Brothers Treasury Co10.00   10/22/2008    USD     2.85
Lehman Brothers Treasury Co6.45    2/20/2010     AUD     2.85
Lehman Brothers Treasury Co3.82    10/20/2009    USD     2.85
Lehman Brothers Treasury Co10.00   10/23/2008    USD     2.85
Lehman Brothers Treasury Co6.60    5/23/2012     AUD     2.85
Lehman Brothers Treasury Co3.45    5/23/2013     USD     2.85
Lehman Brothers Treasury Co16.00   10/28/2008    USD     2.85
Lehman Brothers Treasury Co5.00    2/15/2018     EUR     2.85
Lehman Brothers Treasury Co2.75    10/28/2009    EUR     2.85
Lehman Brothers Treasury Co9.00    5/6/2011      CHF     2.85
Lehman Brothers Treasury Co5.50    6/22/2010     USD     8.75
Lehman Brothers Treasury Co0.50    12/20/2017    USD     2.85
Lehman Brothers Treasury Co8.00    12/31/2010    USD     2.85
Lehman Brothers Treasury Co1.95    11/4/2013     EUR     2.85
Lehman Brothers Treasury Co3.63    3/2/2012      EUR     2.85
Lehman Brothers Treasury Co3.00    6/3/2010      EUR     2.85
Lehman Brothers Treasury Co12.40   6/12/2009     USD     2.85
Lehman Brothers Treasury Co16.00   11/9/2008     USD     2.85
Lehman Brothers Treasury Co16.20   5/14/2009     USD     2.85
Lehman Brothers Treasury Co23.30   9/16/2008     USD     2.85
Lehman Brothers Treasury Co14.10   11/12/2008    USD     2.85
Lehman Brothers Treasury Co7.50    5/30/2010     AUD     2.85
Lehman Brothers Treasury Co3.00    6/23/2009     EUR     8.75



                            *********

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 * * *