/raid1/www/Hosts/bankrupt/TCREUR_Public/231030.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, October 30, 2023, Vol. 24, No. 217
Headlines
A Z E R B A I J A N
MUGANBANK OJSC: S&P Downgrades ICR to 'D/D' Then Withdraws Ratings
C Z E C H R E P U B L I C
ENERGO-PRO AS: Fitch Assigns BB-(EXP) Rating on Sr. Unsecured Notes
F R A N C E
CASINO GUICHARD: Cuts Annual Earning Outlook, Finalizes Rescue Deal
LABORATORIES EIMER: Fitch Alters Outlook on 'B' LongTerm IDR to Neg
G E R M A N Y
ADAPA GMBH: S&P Withdraws 'CCC+' LongTerm Issuer Credit Rating
I R E L A N D
ACCUNIA EUROPEAN II: S&P Affirms 'B-(sf)' Rating on Class F Notes
CVC CORDATUS XXIX: S&P Assigns Prelim. B-(sf) Rating on F-2 Notes
EURO-GALAXY VII: Fitch Affirms 'B-sf' Rating on Class F-R Notes
TRINITAS EURO V: Fitch Assigns 'B-sf' Final Rating on Class F Notes
TRINITAS EURO V: S&P Assigns B-(sf) Rating on Class F Notes
I T A L Y
AUTO ABS ITALIAN 2023-1: Fitch Gives Final BB+ Rating on E Notes
L U X E M B O U R G
ELEVING GROUP: Fitch Rates EUR50MM Secured Bonds Due 2028 'B-'
N E T H E R L A N D S
IPD 3 BV: Fitch Affirms 'B' LongTerm IDR, Outlook Stable
R U S S I A
UZKIMYOSANOAT JSC: Fitch Assigns BB- First-Time IDR, Outlook Stable
T U R K E Y
RONESANS GAYRIMENKUL: Fitch Affirms & Withdraws 'B' LongTerm IDR
U N I T E D K I N G D O M
BENCHMARK LEISURE: Goes Into Administration, Owes GBP7.8 Million
IRWELL WORKS: Goes Into Liquidation, Ceases Operations
LUXTRIPPER LTD: Enters Administration, Assets Put Up for Sale
REAL BREWING: Enters Administration, Two Sites Put Up for Sale
WIGGLECRC: Mike Ashley's Frasers Group Among Potential Buyers
X X X X X X X X
[*] BOND PRICING: For the Week October 23 to October 27, 2023
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A Z E R B A I J A N
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MUGANBANK OJSC: S&P Downgrades ICR to 'D/D' Then Withdraws Ratings
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S&P Global Ratings lowered its long- and short-term foreign and
local currency issuer credit ratings on Azerbaijan-based Muganbank
to 'D/D' (default) from 'B-/Stable/B'.
S&P then withdrew the ratings.
S&P lowered the ratings to 'D/D' and withdrew them after the CBRA
revoked Muganbank's banking license on Oct. 19, 2023. In its view,
the regulator's latest action means that Muganbank is currently
unable to fulfil its obligations to its counterparties according to
the terms of the respective agreements.
The CBRA revoked Muganbank's license because the bank's aggregate
capital amount was below the regulatory minimum, its capital
adequacy ratio was below 3%, and the bank failed to operate in a
reliable and prudent manner. Following the license withdrawal, the
CBRA will start the process of settling the bank's obligations to
creditors in accordance with bankruptcy law. Therefore, S&P
believes that the bank's outstanding obligations cannot be settled
on a timely basis.
S&P has insufficient reliable information to analyze the bank's
creditworthiness.
S&P withdrew the ratings because it understands the bank is
undergoing liquidation and is no longer a licensed entity.
===========================
C Z E C H R E P U B L I C
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ENERGO-PRO AS: Fitch Assigns BB-(EXP) Rating on Sr. Unsecured Notes
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Fitch Ratings has assigned ENERGO-PRO a.s.'s (EPas; BB-/Stable)
proposed notes an expected senior unsecured 'BB-(EXP)' rating, in
line with EPas's Long-Term Issuer Default Rating (IDR).
The final rating is contingent on the receipt of final
documentation conforming materially to information already received
and details regarding the amount, coupon rate and maturity.
The proceeds will be used for the repayment of EPas's EUR300
million bridge facility, which was attracted to finance the
acquisition of a 100% stake in Xallas Electricidad y Aleaciones,
S.A.U. and Feroe Ventures & Investments, S.L.U., and pay
transaction-related expenses.
The Stable Outlook on EPas's Long-Term IDR reflects its expectation
that the rating has sufficient headroom to absorb the acquisition,
which includes 10 hydro-power plants (HPPs) and two ferroalloy
plants in Spain. Fitch forecasts the company's post-acquisition
funds from operations (FFO) net leverage (adjusted for connection
fees and guarantees) to remain below the negative sensitivity of
5.5x over 2023-2026, although with limited headroom from 2025.
The 'BB-' Long-Term IDR is constrained by significantly higher cash
flow volatility relative to other rated European utilities',
foreign-exchange (FX) mismatch between revenue and debt, operating
environment risk, and key-person risk from ultimate ownership by
one individual. Rating strengths are the high, although decreasing,
share of regulated activities, supportive regulatory regimes for
networks in Georgia and Bulgaria, and some geographic and business
diversification.
KEY RATING DRIVERS
Expected Terms of Notes: The notes will constitute direct,
unconditional, unsubordinated and unsecured obligations of EPas and
rank pari passu among themselves and equally with all its other
unsecured obligations. The notes will be fully, unconditionally and
irrevocably guaranteed by seven operating companies within the EPas
group, which covered around 80% of consolidated EBITDA in 2022.
Spanish Acquisition Broadly Neutral: The acquisition will
negatively affect EPas's share of regulated and quasi-regulated
EBITDA, which had already gradually declined to 58% in 1H23 from
89% in 2017. Positively, EPas's profile will benefit from better
geographical diversification to a developed electricity market in
Spain and a region with good hydrology. The acquisition will
increase the share of euro-denominated cash flows, reducing the
group's exposure to foreign-currency risk. The company will also
benefit from larger scale, with an around 20% increase in installed
capacity to reach 1GW, consisting mostly of clean energy.
Forecast Revised Upwards: Fitch has revised its forecast of EBITDA
in 2023 up to around EUR290 million (EUR306 million in 2022)
reflecting strong 1H23 results. Fitch has also raised its
pre-acquisition EBITDA forecast for 2024-2026 by 7% compared with
its previous expectations, mainly to reflect the stronger Georgian
lari and a healthy price environment.
Re-leveraging Expected: Fitch believes most factors contributing to
strong performance in 2022-2023 are temporary and forecast FFO net
leverage (adjusted for connection fees and guarantees) increasing
to levels that are consistent with the rating from 2024. Together
with the debt-funded acquisition, this would be on the back of
stabilising electricity market prices, normalising supply margins
in Bulgaria, lower distribution tariffs from 2024 in Georgia as
compensation for previous periods of under-performance ends, and
the continued weakening of the Turkish lira.
Weaker Coverage Expected: Despite leverage likely remaining
commensurate with the rating after the acquisition, Fitch forecasts
EPas's interest coverage to weaken below the negative sensitivity
of 3x from 2024 as the cost of debt rises. Fitch had already
projected FFO interest coverage to be weak for the rating before
the acquisition announcement, although to a lesser extent. Fitch
sees the overall positioning of the key credit ratios as consistent
with the current rating.
Increased Shareholder Distributions: EPas is planning to distribute
EUR100 million in 2023 compared with an average of around EUR40
million annually in 2019-2022. Distributions are constrained by a
4.5x net debt/EBITDA incurrence covenant and remain flexible and
subject to business needs. EPas increased distributions versus its
original plan in 2022 and expects to do so in 2023. Its flexible
distributions policy supports its view that current low leverage is
likely to be unsustainable.
Higher Capex: Fitch has raised its capex expectations to an average
of around EUR100 million annually over 2023-2026, which is slightly
below management's expectations. The increase is related to higher
network investments in Georgia, which should be reflected in
tariffs in the next regulatory period; in storage batteries at EP
Varna; and construction of a new hydro plant in Colombia.
Volatile Cash Flows: EPas's Fitch-calculated EBITDA ranged between
EUR96 million and EUR306 million in 2016-2022, due to volatile
electricity market prices, variable hydro generation and a less
than consistent application of the regulatory frameworks in Georgia
and Bulgaria leading to tariff changes and working-capital swings.
These factors limit cash flow predictability, contributing to
volatile credit metrics. This is only partially balanced by a
flexible capex and dividend policy.
DERIVATION SUMMARY
EPas benefits from a higher share of regulated activities in EBITDA
than Bulgarian Energy Holding EAD (BEH, BB+/Stable, Standalone
Credit Profile (SCP): bb), higher geographical diversification and
a better carbon footprint, which is close to zero. This is
partially balanced by BEH's larger scale of operations, higher
integration across the electricity value chain, lower leverage and
lower exposure to FX. Overall, EPas has a moderately higher debt
capacity than BEH.
Central European utilities like PGE Polska Grupa Energetyczna S.A.
(BBB+/Stable), TAURON Polska Energia S.A. (BBB-/Stable), ENEA S.A.
(BBB/Stable) and MVM Zrt (BBB/Negative) are larger in size and have
stronger market positions than EPas.
EPas has a stronger business profile than Turkish power producers
Zorlu Yenilenebilir Enerji Anonim Sirketi (B-/Stable) and Aydem
Yenilenebilir Enerji Anonim Sirketi (B/Stable), due to a better
operating environment, integration into networks and geographical
diversification.
EPas has greater geographic diversification, more stable
regulation, and deeper integration into networks than
Uzbekhydroenergo JSC (BB-/Stable, SCP: b+), a hydro producer with a
monopoly in Uzbekistan rated at the same level as the Republic of
Uzbekistan (BB-/Stable), reflecting its strong links with the
state.
KEY ASSUMPTIONS
Fitch's key assumptions within its rating case for the issuer
include:
- Electricity generation at about 2.8 TWh annually in 2023-2026
- Electricity distribution at about 11.5 TWh annually in 2023-2026
- Average market prices for electricity over 2023-2026 at EUR96/MWh
in Bulgaria and EUR74/MWh in Turkiye
- Capex on average at around EUR110 million annually over
2023-2026, which is below management forecast
- Spanish acquisition to contribute around 20% of group EBITDA on
average over 2023-2026
- Distributions to shareholder on average at EUR46 million annually
over in 2023-2026
- Euro to the US dollar at 1.05, euro to Turkish lira at 23-36 and
euro to Georgian lari at 2.9-3.2 over 2023-2026
- Around EUR47 million guarantees included as off-balance-sheet
obligations in 2023-2026
RATING SENSITIVITIES
Factors that could, individually or collectively, lead to positive
rating action/upgrade:
- Improved FFO net leverage (excluding connection fees and
including group guarantees) below 4.5x and FFO interest coverage
(excluding connection fees) above 4x on a sustained basis
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
- Higher distributions to shareholders and lower profitability and
cash generation leading to FFO net leverage (excluding connection
fees and including group guarantees) above 5.5x and FFO interest
coverage (excluding connection fees) below 3x on a sustained basis
- Significant weakening of the business profile with lower
predictability of cash flows may lead to a tighter leverage
sensitivity or a downgrade
LIQUIDITY AND DEBT STRUCTURE
Adequate Liquidity: At end-2Q23 EPas had cash and equivalents of
EUR82 million and unused committed bank overdrafts of EUR152
million. Following the early refinancing of the 2024 notes, EPas
does not have significant debt repayments until 2027. The company
plans to use the proceeds from the upcoming notes issuance for the
repayment of EUR300 million bridge facility, which was attracted to
finance the Spanish acquisition.
FX Mismatch in Revenue/Debt: EPas remains subject to FX
fluctuations, as its debt at end-2022 was euro- and
dollar-denominated. This is in contrast to its local-currency
denominated revenue in Georgian lari, Bulgarian leva and Turkish
lira, although the Bulgarian leva is pegged to the euro. The
Spanish acquisition will increase the share of euro-denominated
cash flows. EPas does not use hedging instruments, other than
holding some cash in foreign currencies.
ISSUER PROFILE
EPas is a utility company headquartered in the Czech Republic with
operating companies in Bulgaria, Georgia, Turkiye and Spain. Its
core activities are power distribution to over two million
customers and electricity generation at HPPs and a gas-fired plant
with a total installed capacity of around 1GW.
SUMMARY OF FINANCIAL ADJUSTMENTS
- Change in inventory, provisions, other income are excluded from
EBITDA
- Guarantees of EUR48 million at end-2022 issued by EPas under loan
agreements of its sister companies are treated as off-balance sheet
obligations and included in debt ratios
- Net loans granted to shareholders are reclassified as dividends
- For the purpose of FFO net leverage (excluding connection fees)
and FFO interest coverage (excluding connection fees) calculations
Fitch reduced FFO by the amount of customer connection fees
received as they are set off against capex
ESG CONSIDERATIONS
ENERGO-PRO a.s. has an ESG Relevance Score of '4' for Group
Structure due to a negative impact of guarantees in favour of its
sister companies within the DK Holding Group on EPas's credit
metrics. Guarantees add around 0.3x to FFO net leverage (excluding
connection fees) over 2023-2026, which has a negative impact on the
credit profile, and is relevant to the ratings in conjunction with
other factors.
ENERGO-PRO a.s. has an ESG Relevance Score of '4' for Governance
Structure due to the company being part of the larger DK Holding
Group, which is ultimately owned by one individual. This has a
negative impact on the credit profile, and is relevant to the
ratings in conjunction with other factors.
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
Entity/Debt Rating Recovery
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ENERGO-PRO a.s.
senior
unsecured LT BB-(EXP) Expected Rating RR4
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F R A N C E
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CASINO GUICHARD: Cuts Annual Earning Outlook, Finalizes Rescue Deal
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Adrienne Klasa at The Financial Times reports that French food
retailer Casino Guichard-Perrachon SA cut its annual earnings
outlook as a poor performance from its large format hyper and
supermarket stores dragged on the indebted group.
According to the FT, the troubled company slashed its forecast for
earnings before interest, tax, depreciation and amortisation to
EUR100 million, down from the EUR214 million it had predicted over
the summer.
A combination of falling sales and the price cuts needed to keep
customers in a competitive market were to blame, Casino said on
Oct. 26, the FT notes.
Casino has finalised an agreement for a capital injection led by
Czech billionaire Daniel Kretinsky and a debt restructuring as the
heavily indebted French food retailer rushes to avert default, the
FT relates.
It entered an accelerated safeguard procedure late on Oct. 25 to
finalise the plan and force creditors who have not signed on to
comply, the FT discloses. By the end of the third quarter,
Casino's debt had climbed by EUR200 million to EUR5.6 billion, the
FT states.
LABORATORIES EIMER: Fitch Alters Outlook on 'B' LongTerm IDR to Neg
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Fitch Ratings has revised the Outlook on Laboratoire Eimer Selas's
(Lab Eimer) Long-Term Issuer Default Rating (IDR) to Negative from
Stable and affirmed the IDR at 'B'. Fitch has also affirmed the
'B+'/'RR3' rating on the senior secured instruments issued by CAB
societe d exercice liberal par actions simplifiee and the
'CCC+'/'RR6' rating on the senior unsecured instrument issued by
Lab Eimer.
The Negative Outlook reflects its expectation that EBITDAR gross
leverage will increase to over 8.0x in 2023, above its 7.0x
negative sensitivity, due to a temporary decline in margins, which
has been caused by a sharp decline in Covid-19 test sales, cost
inflation and more stringent reimbursement policies in France.
Lab Eimer owns the France-based lab-testing company Biogroup. The
'B' IDR balances its high leverage with a defensive social
infrastructure-like healthcare business model, strong operating
margins and solid free cash flow (FCF).
Fitch forecasts that Lab Eimer will reduce its EBITDAR gross
leverage towards 7.0x in 2025 by restoring its underlying margins
to pre-pandemic levels, while maintaining a conservative financial
policy, supported by cost-saving efforts and the visibility
provided by the new 2024-2026 tri-annual plan for routine medical
diagnostic tests reimbursements by the French authorities. However,
Fitch considers that risks such as further inflationary cost
pressures or higher than anticipated complexity in reducing costs
may slow down management's expected recovery in margins. These
risks and their potential adverse impact on the de-leveraging
trajectory are reflected in the Negative Outlook.
KEY RATING DRIVERS
Covid-19 Testing Sales Abate: Fitch expects Covid-19 test sales to
reduce drastically in 2023, causing group revenues to decrease by
more than 20%. Covid-19 test revenues had already halved in 2022
compared with 2021.
Temporary Margin Decline in 2023: Fitch expects the EBITDA margin
to contract to below pre-pandemic level in 2023, affected by the
loss of Covid-19 test revenue, the delay in adapting the company's
overall workforce cost structure to a lower volume of activity, a
cost-inflationary environment affecting labour in particular but
also energy and consumables, as well as the major tariff cut
imposed by the French authorities in 2023.
New Triennial Act Improves Visibility: The French authorities
agreed on a new triennial act in July 2023 covering 2024-2026. This
will increase the regulated envelope (the funding made available by
the government for routine diagnostic tests) by 0.4% annually. This
means that volume growth ahead of expectations would be offset by a
decrease in reimbursement per test. Fitch considers that the new
act provides enough visibility for Lab Eimer to work towards
adjusting its cost base and gradually improve its profit margins
towards pre-pandemic levels by 2025.
High Leverage, Deleveraging Expected: Fitch expects EBITDAR gross
leverage to increase to over 8x in 2023 as a result of the
temporary weakness in margins. This is above its 7.0x negative
sensitivity for the rating. Nonetheless, Fitch expects that the
group will be able to gradually improve its leverage towards 7.0x
by 2025, by restoring its margins to pre-pandemic levels while
maintaining a conservative financial policy. Fitch assumes that the
group will pause its acquisition strategy in 2023, 2024 and
possibly 2025.
Risks Could Hinder Margin Improvement: Lab Eimer is facing risks
that could hinder the expected recovery in margins, including of
higher-than-expected cost inflation. Fitch believes the company has
the capacity to mitigate inflation by generating cost savings in
its personnel and non-reagent purchases, despite execution risks.
Fitch also notes the risk of reimbursement pressure in Belgium and
the risk from 2027 of reimbursement and regulatory pressure in
France.
While the latter may also include closer scrutiny of the sector's
profitability and of any growing market power of the top six
lab-testing groups, leading to more stringent reimbursement terms,
Fitch does not currently reflect this risk in the rating.
Financial Policy to Drive IDR: The IDR is driven by its view of Lab
Eimer's consistent financial policy, including the funding mix that
has supported its highly acquisitive growth strategy. Fitch assumes
that over 2023-2025 management will prioritise reducing leverage
before re-engaging in M&A (aside from modest outlays to purchase
minority stakes from biologists in 2023-2024). Thereafter, Fitch
assumes that FCF will be fully reinvested in bolt-on M&A, with
mid-scale acquisitions funded with a mix of own cash and fresh
debt, and larger M&A in excess of EUR500 million to also include
equity co-funding.
Tightening Financial Flexibility: Fitch expects that higher cash
debt service requirements due to rising floating interest rates
will maintain the coverage metric of EBITDAR fixed charge ratio at
around 2.0x until 2025, which Fitch views as tight for the rating.
Together with high leverage and weakening FCF, this could put the
ratings under pressure.
Healthy Cash Flow Generation: FCF margins will be affected by
higher interest rates, but Fitch forecasts that they will remain at
mid-to-high single digits as a percentage of sales over the rating
horizon. FCF benefits from the company's healthy operating margins,
contained trade working capital and low capex intensity. Strong
cash-flow profitability remains a key credit strength, mitigating
excessive leverage.
Defensive Business Model: Lab Eimer's business model is defensive
with stable, non-cyclical revenues and high and resilient operating
margins. The company benefits from scale-driven operating
efficiencies and proven M&A execution and integration processes, in
addition to high barriers to entry as it operates in a
highly-regulated market. Acquisitions in other geographies reduce
the impact of adverse regulatory changes in any single country.
DERIVATION SUMMARY
Lab Eimer's 'B' rating is in line with that of Inovie Group
(B/Negative) and below that of Synlab AG (BB/Rating Watch Negative;
RWN), both of which are direct routine medical lab-testing peers.
The industry benefits from a defensive, non-cyclical business model
with stable demand, given the infrastructure-like nature of
lab-testing services.
The profitability, cash generation and leverage of Lab Eimer and
its direct peers benefited significantly from Covid-19-related
activity in 2020 to end-2022, which has normalised at a much lower
level in 2023, resulting in margins reversing back to or below
pre-pandemic levels.
Lab Eimer's high and stable operating and cash flow margins are
some of the highest among peers, which Fitch largely attributes to
the particularities of the French and Belgian regulatory regimes
and the company's exposure to the private lab-testing market. Lab
Eimer's expected profitability is higher than Synlab's and similar
to slightly higher than of French peers. However, its FCF
generation is partly impacted by dividends paid to minority
shareholders, which are related to minority stakes owned by
biologists in the underlying Opcos.
The lab-testing market in Europe has attracted significant private
equity investment, leading to highly leveraged financial profiles.
The three-notch rating difference between Lab Eimer and Inovie
Group against Synlab is related to the latter's more conservative
financial risk profile after an IPO, leading to much lower
leverage. However, Fitch placed Synlab's rating on RWN following
the announcement that the previous private equity owner will take
over the company and make it private again.
Compared with investment-grade global medical diagnostic peers such
as Eurofins Scientific S.E. (BBB-/Stable) and Quest Diagnostics
Inc. (BBB/Positive), Lab Eimer is a lot smaller and geographically
concentrated, more exposed to the routine lab-testing market and
has much higher leverage.
KEY ASSUMPTIONS
Fitch's Key Assumptions Within Its Rating Case for the Issuer:
- Routine sales increasing in organic terms by about 2.5% in 2023,
with volume growth offsetting declines in price
- Covid-19 test sales drastically decreasing in 2023 and remaining
stable slightly below that level thereafter
- EBITDA margin softness in 2023, gradually returning to
pre-pandemic levels by 2025
- Small net working capital outflows
- Capex at 3.5% of sales in 2023, 3% in 2024 and 2.5% thereafter
- Fitch-estimated M&A, including the purchase of minority stakes of
biologists, at around EUR100million-EUR150 million a year over
2023-2027
- Dividends to non-controlling interests estimated at 9-10% of
consolidated EBITDA
- No common dividend payments
RECOVERY ANALYSIS
Recovery Assumptions:
- Fitch follows a going-concern (GC) approach over balance-sheet
liquidation given the quality of Lab Eimer's network and strong
national market position
- Expected GC EBITDA at around 25% discount to projected EBITDA for
2023, reflecting a post-restructuring stressed EBITDA, which may
occur if margins contract as a result of reduced government support
or a significant change in the regulatory environment.
- Distressed enterprise value (EV)/EBITDA multiple of 6.0x, which
reflects Lab Eimer's strong market position, as well as product and
geographic diversification
- Structurally higher-ranking debt of around EUR108 million at
operating companies to rank, on enforcement, ahead of the revolving
credit facility (RCF), term loan B (TLB) and senior secured notes
(SSN)
- The senior secured TLB and SSN together at around EUR2.9 billion
and RCF of EUR271 million, which Fitch assumes to be fully drawn
upon distress, rank pari passu among themselves after
higher-ranking debt. The senior unsecured bond ranks third in
priority
- After deducting 10% for administrative claims from the estimated
post-restructuring EV, its waterfall analysis generates a ranked
recovery for the senior secured debt in the Recovery Rating 'RR3'
band, leading to a senior secured rating of 'B+' with a waterfall
generated recovery computation (WGRC) of 53%. For the senior
unsecured notes, Fitch estimates their recovery in the 'RR6' band
with a WGRC of 0%, corresponding to a 'CCC+' senior unsecured
rating.
RATING SENSITIVITIES
Factors that could, individually or collectively, lead to positive
rating action/upgrade:
A larger scale, increased product/geographical diversification,
full realisation of contractual savings and synergies associated
with acquisitions or voluntary prepayment of debt from excess cash
flow
- EBITDAR gross leverage below 5.0x on a sustained basis
- Achieving high-single-digit FCF margins on a sustained basis
- EBITDAR fixed charge trending above 2.5x on a sustained basis
Factors that could, individually or collectively, lead to the
Outlook being revised to Stable
- Visibility that EBITDAR gross leverage is trending down towards
7.0x by 2025
- Stable operating performance leading to FCF margin at least in
the mid-single digits
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
- Weak operating performance with flat to negative like-for-like
sales growth and declining EBITDA margins due to a delay in M&A
integration, competitive pressures or adverse regulatory changes
- EBITDAR gross leverage above 7.0x on a sustained basis
- FCF margin reducing towards below 5% on a sustained basis
- EBITDAR fixed charge below 2.0x on a sustained basis
LIQUIDITY AND DEBT STRUCTURE
Comfortable Liquidity: Fitch views Lab Eimer's liquidity as
comfortable. This is based on a high cash balance of EUR643 million
(excluding EUR50 million that Fitch treats as not readily available
for debt service) as of June 2023. In addition, the company has a
committed RCF of EUR271 million maturing in August 2027. The
company has no material debt maturities until February 2028.
Fitch forecasts adequate liquidity for 2023-2026 based on strong
FCF generation and its forecasts of annual M&A activity (including
purchases of minority stakes from biologists) averaging EUR100
million-EUR150 million a year, which could be funded mostly by FCF
generation and the balance with the RCF.
ISSUER PROFILE
Lab Eimer is one of Europe's largest providers of routine
diagnostic tests in the private lab-testing market, with leadership
positions in France and Belgium.
ESG CONSIDERATIONS
Lab Eimer has an ESG Relevance Score of '4' for Exposure to Social
Impacts due to a high risk of tightening healthcare regulation
constraining its ability to maintain operating profitability and
cash flows. This has a negative impact on its credit profile and is
relevant to the rating in conjunction with other factors.
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
Entity/Debt Rating Recovery Prior
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Laboratoire
Eimer Selas LT IDR B Affirmed B
senior
unsecured LT CCC+ Affirmed RR6 CCC+
CAB societe d
exercice liberal
par actions
simplifiee
senior secured LT B+ Affirmed RR3 B+
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G E R M A N Y
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ADAPA GMBH: S&P Withdraws 'CCC+' LongTerm Issuer Credit Rating
--------------------------------------------------------------
S&P Global Ratings has withdrawn its 'CCC+' long- term issuer
credit rating on adapa GmbH (previously Schur Flexibles GmbH) at
the company's request. The outlook was stable at the time of the
withdrawal.
S&P also withdrew its 'CCC+' issue rating on the super senior
secured debt instrument and its 'CCC-' issue rating on the senior
secured debt.
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I R E L A N D
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ACCUNIA EUROPEAN II: S&P Affirms 'B-(sf)' Rating on Class F Notes
-----------------------------------------------------------------
S&P Global Ratings raised its credit ratings on Accunia European
CLO II DAC's class B-1 and B-2 notes to 'AAA (sf)' from 'AA+ (sf)',
class C notes to 'AA (sf)' from 'A+ (sf)', class D notes to 'A
(sf)' from 'BBB+ (sf)', and class E notes to 'BB+ (sf)' from 'BB
(sf)'. S&P affirmed its 'AAA (sf)' rating on the class A notes and
its 'B- (sf)' rating on the class F notes.
The rating actions follow the application of S&P's global corporate
CLO criteria and its credit and cash flow analysis of the
transaction based on the August 2023 trustee report.
S&P's ratings on the class A, B-1, and B-2 notes address the
payment of timely interest and ultimate principal, and the payment
of ultimate interest and principal on the class C to F notes.
Since S&P's previous review in September 2022:
-- The weighted-average rating of the portfolio remains unchanged
at 'B'.
-- The portfolio has become less diversified since the CLO began
its amortization phase (number of performing obligors has decreased
to 79 from 100).
-- The portfolio's weighted-average life decreased to 2.94 years
from 3.44 years.
-- The percentage of 'CCC' rated assets increased to 12.96% from
8.11%.
The scenario default rate increased for all rating scenarios,
primarily due to a more concentrated portfolio and a slight
deterioration in credit quality.
Portfolio benchmarks
CURRENT PREVIOUS REVIEW
SPWARF 3,162.75 2,923.32
Default rate dispersion 767.68 691.31
Weighted-average life (years) 2.94 3.44
Obligor diversity measure 63.87 79.78
Industry diversity measure 22.62 19.33
Regional diversity measure 1.23 1.22
SPWARF—S&P Global Ratings weighted-average rating factor.
On the cash flow side:
-- The reinvestment period for the transaction ended in October
2021. The class A notes have since deleveraged by EUR116.02
million.
-- Credit enhancement has increased due to deleveraging. No class
of notes is currently deferring interest.
-- All coverage tests are passing except for the class F
overcollateralization test which was failing by 31 basis points as
of the August 2023 trustee report.
-- The weighted-average recovery rate has improved at all rating
levels.
Transaction key metrics
CURRENT PREVIOUS REVIEW
Total collateral amount (mil. EUR)* 243.73 318.19
Defaulted assets (mil. EUR) 1.33 0.00
Number of performing obligors 79 100
Portfolio weighted-average rating B B
'CCC' assets (%) 12.96 8.11
'AAA' SDR (%) 60.55 59.66
'AAA' WARR (%) 38.42 37.42
*Performing assets plus cash and expected recoveries on defaulted
assets.
SDR--scenario default rate.
WARR--Weighted-average recovery rate.
S&P said, "In our view, the portfolio is diversified across
obligors, industries, and asset characteristics. Nevertheless, due
to the CLO entering in its amortization phase, it has become more
concentrated (in comparison with our previous review). There are 79
obligors; aggregate exposure to the top 10 obligors is now 25%. At
the same time, almost 30% of the assets pay semiannually. The CLO
has a smoothing account that helps to mitigate any frequency timing
mismatch risks. Hence, we have performed additional scenario
analysis by applying a spread and recovery compression analysis.
"Considering the higher portfolio weighted-average recovery and the
continued deleveraging of the senior notes which has increased
available credit enhancement, we raised our ratings on the class
B-1, B-2, C, D, and E notes. Their available credit enhancement is
now commensurate with higher levels of stresses. At the same time,
we affirmed our rating on the class A notes.
"The cash flow analysis indicated higher ratings than those
currently assigned for the class C and D notes (without the
abovementioned additional sensitivity analysis). However, the
rating actions address concentration risk and the effect this may
have on the weighted-average spread and recovery generated on the
portfolio. For these classes, we considered that the manager may
still reinvest unscheduled redemption proceeds and sale proceeds
from credit-impaired and credit-improved assets. Such
reinvestments, as opposed to repayment of the liabilities, may
therefore prolong the note repayment profile for the most senior
class. We also considered the portion of senior notes outstanding,
the current macroeconomic environment, and these classes'
seniority. Considering all of these factors, we raised our ratings
on the class C and D notes by two notches.
"Following this analysis, we consider that the class F notes'
available credit enhancement is commensurate with a 'B- (sf)'
rating. We therefore affirmed our rating.
"Counterparty, operational, and legal risks are adequately
mitigated in line with our criteria.
"Following the application of our structured finance sovereign risk
criteria, we consider the transaction's exposure to country risk to
be limited at the assigned ratings, as the exposure to individual
sovereigns does not exceed the diversification thresholds outlined
in our criteria."
CVC CORDATUS XXIX: S&P Assigns Prelim. B-(sf) Rating on F-2 Notes
-----------------------------------------------------------------
S&P Global Ratings assigned preliminary credit ratings to CVC
Cordatus Loan Fund XXIX DAC's class A-1, A-2, B, C, D, E, F-1, and
F-2 notes. At closing, the issuer will also issue unrated
subordinated notes.
The preliminary ratings reflect S&P's assessment of:
-- The diversified collateral pool, which primarily comprises
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 S&P expects to be
bankruptcy remote.
-- The transaction's counterparty risks, which S&P expects to be
in line with its counterparty rating framework.
Portfolio benchmarks
CURRENT
S&P weighted-average rating factor 2,920.90
Default rate dispersion 472.31
Weighted-average life (years) 4.66
Obligor diversity measure 113.53
Industry diversity measure 20.88
Regional diversity measure 1.19
Transaction key metrics
CURRENT
Portfolio weighted-average rating
derived from S&P's CDO evaluator B
'CCC' category rated assets (%) 0.53
Covenanted 'AAA' weighted-average recovery (%) 37.61
Covenanted weighted-average spread (%) 4.59
Covenanted weighted-average coupon (%) 5.08
Asset priming obligations and uptier priming debt
Under the transaction documents, the issuer can purchase asset
priming obligations and/or uptier priming debt, with excess
interest or collateral enhancement proceeds, to address the risk,
where a distressed obligor could either move collateral outside the
existing creditors' covenant group or incur new money debt senior
to the existing creditors.
Rating rationale
Under the transaction documents, the rated notes will pay quarterly
interest unless a frequency switch event occurs. Following this,
the notes will switch to semiannual payments. The portfolio's
reinvestment period will end approximately four and half years
after closing.
The portfolio is well-diversified, primarily comprising broadly
syndicated speculative-grade senior-secured term loans and
senior-secured bonds. Therefore, S&P has conducted its credit and
cash flow analysis by applying its criteria for corporate cash flow
CDOs.
S&P said, "In our cash flow analysis, we used the EUR375 million
target par amount, and the portfolio's covenanted weighted-average
spread (4.59%), covenanted weighted-average coupon (5.08%), and
covenanted weighted-average recovery rates at each rating level. We
applied various cash flow stress scenarios, using four different
default patterns, in conjunction with different interest rate
stress scenarios for each liability rating category.
"Under our structured finance sovereign risk criteria, we consider
that the transaction's exposure to country risk is sufficiently
mitigated at the assigned preliminary ratings.
"Until the end of the reinvestment period on May 15, 2028, the
collateral manager may substitute assets in the portfolio for so
long as our CDO Monitor test is maintained or improved in relation
to the initial ratings on the notes. This test looks at the total
amount of losses that the transaction can sustain as established by
the initial cash flows for each rating, and it compares that with
the current portfolio's default potential plus par losses to date.
As a result, until the end of the reinvestment period, the
collateral manager may through trading deteriorate the
transaction's current risk profile, as long as the initial ratings
are maintained.
"We expect the transaction's documented counterparty replacement
and remedy mechanisms to adequately mitigate its exposure to
counterparty risk under our current counterparty criteria.
"At closing, we expect that the transaction's legal structure and
framework will be bankruptcy remote, in line with our legal
criteria.
"Following our analysis of the credit, cash flow, counterparty,
operational, and legal risks, we believe our preliminary ratings
are commensurate with the available credit enhancement for all
classes of notes. Our credit and cash flow analysis indicates that
the available credit enhancement for the class B, C, D, and E notes
could withstand stresses commensurate with higher ratings than
those assigned. However, as the CLO will be in its reinvestment
phase starting from closing, during which the transaction's credit
risk profile could deteriorate, we have capped the assigned
preliminary ratings.
"Taking the above factors into account and following our analysis
of the credit, cash flow, counterparty, operational, and legal
risks, we believe that our preliminary ratings are commensurate
with the available credit enhancement for all the rated classes of
notes.
"In addition to our standard analysis, to provide an indication of
how rising pressures among speculative-grade corporates could
affect our ratings on European CLO transactions, we have also
included the sensitivity of the preliminary ratings on the class
A-1 to F-1 notes based on four hypothetical scenarios.
"As our ratings analysis makes additional considerations before
assigning ratings in the 'CCC' category, and we would assign a 'B-'
rating if the criteria for assigning a 'CCC' category rating are
not met, we have not included the above scenario analysis results
for the class F-2 notes."
The transaction securitizes a portfolio of primarily senior-secured
leveraged loans and bonds, and it is managed by CVC Credit Partners
Investment Management.
Environmental, social, and governance (ESG) factors
S&P said, "We regard the exposure to ESG credit factors in the
transaction as being broadly in line with our benchmark for the
sector. Primarily due to the diversity of the assets within CLOs,
the exposure to environmental credit factors is viewed as below
average, social credit factors are below average, and governance
credit factors are average. For this transaction, the documents
prohibit assets from being related to certain activities,
including, but not limited to the following: production,
distribution, marketing, or sale of controversial weapons; tobacco
production; any borrower which derives more than 10 per cent of its
revenue from the mining of thermal coal; any borrower which is an
oil and gas producer which derives less than 40 per cent of its
revenue from natural gas or renewables. Accordingly, since the
exclusion of assets from these industries does not result in
material differences between the transaction and our ESG benchmark
for the sector, we have not made any specific adjustments in our
rating analysis to account for any ESG-related risks or
opportunities."
Ratings list
CLASS PRELIMINARY AMOUNT INTEREST RATE§ CREDIT
RATING* (MIL. EUR) ENHANCEMENT (%)
A-1 AAA (sf) 221.25 3mE + 1.68% 41.00
A-2 AAA (sf) 10.00 3mE + 2.00% 38.33
B AA (sf) 46.25 3mE + 2.30% 26.00
C A (sf) 21.25 3mE + 3.10% 20.33
D BBB- (sf) 23.75 3mE + 5.40% 14.00
E BB- (sf) 17.20 3mE + 7.61% 9.41
F-1 B+ (sf) 5.80 3mE + 7.92% 7.87
F-2 B- (sf) 5.20 3mE + 8.72% 6.48
Sub notes NR 26.80 N/A N/A
*The preliminary ratings assigned to the class A-1, A-2, and B
notes address timely interest and ultimate principal payments. The
preliminary ratings assigned to the class C, D, E, F-1, and F-2
notes address ultimate interest and principal payments.
§The payment frequency switches to semiannual and the index
switches to 6mE when a frequency switch event occurs.
NR--Not rated.
N/A--Not applicable.
3mE--Three-month Euro Interbank Offered Rate.
EURO-GALAXY VII: Fitch Affirms 'B-sf' Rating on Class F-R Notes
---------------------------------------------------------------
Fitch Ratings has upgraded Euro-Galaxy VII CLO DAC's class D-R
Notes and revised the Outlooks on the class B-1-R, B-2-R, C-R and
E-R notes to Positive from Stable. The rest of the notes have been
affirmed.
Entity/Debt Rating Prior
----------- ------ -----
Euro-Galaxy
VII CLO DAC
A-R XS2337236140 LT AAAsf Affirmed AAAsf
B-1-R XS2337236223 LT AAsf Affirmed AAsf
B-2-R XS2337236496 LT AAsf Affirmed AAsf
C-R XS2337236579 LT Asf Affirmed Asf
D-R XS2337236652 LT BBBsf Upgrade BBB-sf
E-R XS2337236736 LT BBsf Affirmed BBsf
F-R XS2337236819 LT B-sf Affirmed B-sf
TRANSACTION SUMMARY
Euro-Galaxy VII CLO DAC is a cash flow CLO comprising mostly senior
secured obligations. The transaction is actively managed by
PineBridge Investments Europe Limited and will exit its
reinvestment period in January 2026.
KEY RATING DRIVERS
Stable Performance; Low Refinancing Risk: Since Fitch's last rating
action in February 2022, the portfolio's performance has remained
stable. As per the last trustee report dated 12 September 2023, the
transaction is passing all of its tests with reported defaults less
than 1% of the target par. The par value tests have slightly
decreased since last year's review.
In addition, the notes are not vulnerable to near- and medium-term
refinancing risk, with only 0.22% of the assets in the portfolio
maturing before 2024, and 6.81% in 2025. The transaction's stable
performance, combined with a shortened weighted average life (WAL)
covenant, has resulted in larger break-even default-rate cushions
versus the last review in December 2022. This has resulted in the
upgrade of the class D-R notes and affirmation of the class A-R,
B-1-R, B-2-R, C-R, E-R and F-R notes.
Large Cushion for All Notes: All notes have large default-rate
buffers to support their current ratings and should be capable of
absorbing further defaults in the portfolio. This supports the
Stable Outlooks on the class A-R, D-R and F-R notes. The Positive
Outlooks on the rest of the notes reflect the possibility of
upgrades should portfolio performance remain stable and the
decreasing WAL of the portfolio contribute to a higher default-rate
cushion.
'B'/'B-' Portfolio: Fitch assesses the average credit quality of
the underlying obligors at 'B'/'B-'. The Fitch-calculated weighted
average rating factor of the current portfolio is 33.17 as reported
by the trustee based on the old criteria and 25.25 as calculated by
Fitch under its latest criteria.
High Recovery Expectations: Senior secured obligations comprise
97.91% of the portfolio. Fitch views the recovery prospects for
these assets as more favourable than for second-lien, unsecured and
mezzanine assets. The Fitch-calculated weighted average recovery
rate of the current portfolio as reported by the trustee was
64.9%.
Diversified Portfolio: The top 10 obligor concentration as
calculated by the trustee is 12.10%, which is below the limit of
20%, and no obligor represents more than 1.5% of the portfolio
balance.
Deviation from MIR: The class B-1-R, B-2-R, C-R and E-R notes'
model-implied ratings (MIRs) are one notch above their current
ratings. The deviations reflect the remaining reinvestment period
until January 2026, during which the portfolio can change due to
reinvestment or negative portfolio migration.
Transaction in Reinvestment Period: Given the manager's ability to
reinvest, Fitch's analysis is based on a stressed portfolio and
tested the notes' achievable ratings across all Fitch test
matrices, since the portfolio can still migrate to different
collateral quality tests and the level of fixed-rate assets could
change. Fitch has modelled the target par balance as the
transaction allows up to 1% of the target par amount to be
transferred from the principal account as trading gains.
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade
An increase of the default rate (RDR) at all rating levels in the
current portfolio by 25% of the mean RDR and a decrease of the
recovery rate (RRR) by 25% at all rating levels will have no impact
on any of the rated notes. Downgrades may occur if build-up of the
notes' credit enhancement following amortisation does not
compensate for a larger loss expectation than initially assumed due
to unexpectedly high levels of defaults and portfolio
deterioration.
Due to the better metrics and shorter life of the current portfolio
than the Fitch-stressed portfolio as well as the MIR deviation, the
class B-1-R, B-2-R notes display a rating cushion of two notches,
the class C-R notes one notch, the class D-R and E-R notes three
notches, and the class F-R notes five notches There is no rating
cushion for the class A-R notes.
Should the cushion between the current portfolio and the
Fitch-stressed portfolio be eroded either due to manager trading or
negative portfolio credit migration, a 25% increase of the mean RDR
and a 25% decrease of the RRR across all ratings of the stressed
portfolio would lead to downgrades of no more than one notch for
the class A-R notes, two notches for the class B-1-R, B-2-R, C-R
and D-R notes, four notches for the class E-R notes and to below
'B-sf' for the class F-R notes.
Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade
A reduction of the RDR at all rating levels in the stressed
portfolio by 25% of the mean RDR and an increase in the RRR by 25%
at all rating levels would result in no impact on the class A-R
notes, upgrades of no more than two notches for the class B-1-R and
B-2-R notes, one notch for the class C-R notes, four notches for
the class D-R and E-R notes and up to five notches for the class
F-R notes. Further upgrades, except for the 'AAAsf' notes, which
are at the highest level on Fitch's scale and cannot be upgraded,
may occur if the portfolio's quality remains stable and the notes
start to amortise, leading to higher credit enhancement across the
structure.
DATA ADEQUACY
Euro-Galaxy VII CLO DAC
Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset pool
and the transaction. Fitch has not reviewed the results of any
third party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.
The majority of the underlying assets or risk presenting entities
have ratings or credit opinions from Fitch and/or other Nationally
Recognized Statistical Rating Organizations and/or European
Securities and Markets Authority registered rating agencies. Fitch
has relied on the practices of the relevant groups within Fitch
and/or other rating agencies to assess the asset portfolio
information or information on the risk presenting entities.
Overall, and together with any assumptions referred to above,
Fitch's assessment of the information relied upon for the agency's
rating analysis according to its applicable rating methodologies
indicates that it is adequately reliable.
TRINITAS EURO V: Fitch Assigns 'B-sf' Final Rating on Class F Notes
-------------------------------------------------------------------
Fitch Ratings has assigned Trinitas Euro CLO V DAC's notes final
ratings.
Entity/Debt Rating
----------- ------
Trinitas Euro
CLO V DAC
A XS2678881165 LT AAAsf New Rating
B-1 XS2678881322 LT AAsf New Rating
B-2 XS2678881678 LT AAsf New Rating
C XS2678881835 LT Asf New Rating
D XS2678882056 LT BBB-sf New Rating
E XS2678882213 LT BB-sf New Rating
F XS2678882486 LT B-sf New Rating
Subordinated Notes
XS2678882643 LT NRsf New Rating
TRANSACTION SUMMARY
Trinitas Euro CLO V DAC is a securitisation of mainly senior
secured loans and secured senior bonds (at least 90%) with a
component of senior unsecured, mezzanine and second-lien loans.
Note proceeds have been used to fund a portfolio with a target par
of EUR350 million. The portfolio is actively managed by Trinitas
Capital Management, LLC. The CLO has an approximately 4.5-year
reinvestment period and an approximately seven-year weighted
average life (WAL).
KEY RATING DRIVERS
Average Portfolio Credit Quality (Neutral): Fitch assesses the
average credit quality of obligors to be in the 'B' category. The
Fitch weighted average rating factor of the identified portfolio is
23.9.
High Recovery Expectations (Positive): At least 90% of the
portfolio comprises senior secured obligations. Fitch views the
recovery prospects for these assets as more favourable than for
second-lien, unsecured and mezzanine assets. The Fitch weighted
average recovery rate of the identified portfolio is 63.8.
Diversified Portfolio (Positive): The transaction has two Fitch
matrices effective at closing, corresponding to a top 10 obligor
concentration limit at 26.5%, fixed-rate asset limits at 5% and
10%, and a seven-year WAL test. The transaction also includes
various concentration limits in the portfolio, including the top
one industry limit of 17.5% and the maximum exposure to the three
largest (Fitch-defined) industries at 43%. These covenants ensure
the asset portfolio will not be exposed to excessive
concentration.
Portfolio Management (Neutral): The transaction has a 4.5-year
reinvestment period and includes reinvestment criteria similar to
those of other European transactions. Fitch's analysis is based on
a stressed-case portfolio with the aim of testing the robustness of
the transaction structure against its covenants and portfolio
guidelines.
Cash Flow Modelling (Positive): The WAL modelled is 12 months less
than the WAL covenant. This reduction to the risk horizon accounts
for the strict reinvestment conditions envisaged by the transaction
after its reinvestment period. These include, among others, passing
both the coverage tests and the Fitch 'CCC' maximum limit, as well
as a WAL covenant that progressively steps down over time, both
before and after the end of the reinvestment period. Fitch believes
these conditions would reduce the effective risk horizon of the
portfolio during the stress period.
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade
A 25% increase of the mean default rate (RDR) across all ratings
and a 25% decrease of the recovery rate (RRR) across all ratings of
the identified portfolio would lead to a downgrade of two notches
for the class B notes, one notch for the class C, D, and E notes,
and to below 'B-sf' for the class F notes.
Based on the identified portfolio, downgrades may occur if the loss
expectation is larger than initially assumed, due to unexpectedly
high levels of default and portfolio deterioration. Due to the
better metrics and shorter life of the identified portfolio than
the Fitch-stressed portfolio, the class C and F notes display a
rating cushion of one notch and the class B, D and E notes of two
notches.
Should the cushion between the identified portfolio and the
Fitch-stressed portfolio be eroded either due to manager trading or
negative portfolio credit migration, a 25% increase of the mean RDR
across all ratings and a 25% decrease of the RRR across all ratings
of the stressed portfolio would lead to downgrades of up to two
notches for the class A through D notes, and to ratings below
'B-sf' for the class E and F notes.
Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade
A 25% reduction of the mean RDR across all ratings and a 25%
increase in the RRR across all ratings of Fitch-stressed portfolio
would lead to upgrades of up to three notches for the rated notes,
except for the 'AAAsf' rated notes, which are at the highest level
on Fitch's scale and cannot be upgraded.
During the reinvestment period, based on the Fitch-stressed
portfolio, upgrades may occur on better-than-expected portfolio
credit quality and a shorter remaining WAL test, allowing the notes
to withstand larger than expected losses for the remaining life of
the transaction. After the end of the reinvestment period, upgrades
may occur on stable portfolio credit quality and deleveraging,
leading to higher credit enhancement and excess spread available to
cover for losses on the remaining portfolio.
DATA ADEQUACY
Trinitas Euro CLO V DAC
The majority of the underlying assets or risk presenting entities
have ratings or credit opinions from Fitch and/or other Nationally
Recognized Statistical Rating Organizations and/or European
Securities and Markets Authority registered rating agencies. Fitch
has relied on the practices of the relevant groups within Fitch
and/or other rating agencies to assess the asset portfolio
information or information on the risk presenting entities.
Overall, and together with any assumptions referred to above,
Fitch's assessment of the information relied upon for the agency's
rating analysis according to its applicable rating methodologies
indicates that it is adequately reliable.
TRINITAS EURO V: S&P Assigns B-(sf) Rating on Class F Notes
-----------------------------------------------------------
S&P Global Ratings assigned its credit ratings to Trinitas Euro CLO
V DAC's class A to F European cash flow CLO notes. At closing, the
issuer also issued unrated subordinated notes.
The ratings reflect S&P's assessment of:
-- The diversified collateral pool, which primarily comprises
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.
The transaction's counterparty risks, which are in line with
S&P's counterparty rating framework.
Portfolio benchmarks
CURRENT
S&P weighted-average rating factor 2,683.02
Default rate dispersion 539.69
Weighted-average life (years) 4.65
Obligor diversity measure 139.82
Industry diversity measure 21.50
Regional diversity measure 1.30
Transaction key metrics
CURRENT
Portfolio weighted-average rating
derived from S&P's CDO evaluator B
'CCC' category rated assets (%) 0
Covenanted 'AAA' weighted-average recovery (%) 35.80
Covenanted weighted-average spread (%) 4.10
Covenanted weighted-average coupon (%) 4.50
Under the transaction documents, the rated notes pay quarterly
interest unless a frequency switch event occurs. Following this,
the notes will switch to semiannual payments.
Asset Priming Obligations And Uptier Priming Debt
Under the transaction documents, the issuer can purchase asset
priming (drop down) obligations and/or uptier priming debt to
address the risk, where a distressed obligor could either move
collateral outside the existing creditors' covenant group or incur
new money debt senior to the existing creditors.
Rationale
The portfolio is well-diversified, primarily comprising broadly
syndicated speculative-grade senior-secured term loans and
senior-secured bonds. Therefore, S&P has conducted its credit and
cash flow analysis by applying its criteria for corporate cash flow
CDOs.
S&P said, "In our cash flow analysis, we used the EUR350 million
target par amount, the covenanted weighted-average spread (4.10%),
the reference weighted-average coupon (4.50%), and the covenanted
weighted-average recovery rates for all classes of notes. We
applied various cash flow stress scenarios, using four different
default patterns, in conjunction with different interest rate
stress scenarios for each liability rating category.
"Until the end of the reinvestment period on Apr. 25, 2028, the
collateral manager may substitute assets in the portfolio for so
long as our CDO Monitor test is maintained or improved in relation
to the initial ratings on the notes. This test looks at the total
amount of losses that the transaction can sustain as established by
the initial cash flows for each rating, and it compares that with
the current portfolio's default potential plus par losses to date.
As a result, until the end of the reinvestment period, the
collateral manager may through trading deteriorate the
transaction's current risk profile, as long as the initial ratings
are maintained.
"Under our structured finance sovereign risk criteria, we consider
that the transaction's exposure to country risk is sufficiently
mitigated at the assigned ratings.
"The transaction's documented counterparty replacement and remedy
mechanisms adequately mitigate its exposure to counterparty risk
under our current counterparty criteria.
"The transaction's legal structure and framework is bankruptcy
remote, in line with our legal criteria.
"The CLO is managed by Trinitas Capital Management LLC. Under our
"Global Framework For Assessing Operational Risk In Structured
Finance Transactions," published on Oct. 9, 2014, the maximum
potential rating on the liabilities is 'AAA'.
"Following our analysis of the credit, cash flow, counterparty,
operational, and legal risks, we believe our ratings are
commensurate with the available credit enhancement for the class A
and F notes. Our credit and cash flow analysis indicates that the
available credit enhancement for the class B-1 to E notes could
withstand stresses commensurate with the same or higher ratings
than those we have assigned. However, as the CLO will be in its
reinvestment phase starting from closing, during which the
transaction's credit risk profile could deteriorate, we have capped
our ratings assigned to the notes.
"Taking the above factors into account and following our analysis
of the credit, cash flow, counterparty, operational, and legal
risks, we believe that our ratings are commensurate with the
available credit enhancement for all the rated classes of notes.
"In addition to our standard analysis, to provide an indication of
how rising pressures among speculative-grade corporates could
affect our ratings on European CLO transactions, we have also
included the sensitivity of the ratings on the class A to E notes
based on four hypothetical scenarios.
"As our ratings analysis makes additional considerations before
assigning ratings in the 'CCC' category, and we would assign a 'B-'
rating if the criteria for assigning a 'CCC' category rating are
not met, we have not included the above scenario analysis results
for the class F notes."
Ratings list
CLASS RATING* AMOUNT INTEREST RATE§ CREDIT
(MIL. EUR) ENHANCEMENT (%)
A AAA (sf) 217.00 3mE +1.75% 38.00
B-1 AA (sf) 28.50 3mE +2.50% 27.00
B-2 AA (sf) 10.00 6.50% 27.00
C A (sf) 20.10 3mE +3.50% 21.26
D BBB- (sf) 22.80 3mE +5.15% 14.74
E BB- (sf) 15.70 3mE +7.47% 10.26
F B- (sf) 11.40 3mE +9.34% 7.00
Subordinated NR 25.80 N/A N/A
*The ratings assigned to the class A, B-1, and B-2 notes address
timely interest and ultimate principal payments. The ratings
assigned to the class C, D, E, and F notes address ultimate
interest and principal payments.
§The payment frequency switches to semiannual and the index
switches to six-month Euro Interbank Offered Rate when a frequency
switch event occurs.
NR--Not rated.
N/A--Not applicable.
3mE--Three-month Euro Interbank Offered Rate.
=========
I T A L Y
=========
AUTO ABS ITALIAN 2023-1: Fitch Gives Final BB+ Rating on E Notes
----------------------------------------------------------------
Fitch Ratings has assigned Auto ABS Italian Stella Loans 2023-1
S.r.l.'s notes final ratings.
Entity/Debt Rating Prior
----------- ------ -----
Auto ABS Italian
Stella Loans
2023-1 S.r.l.
Class A notes
IT0005565798 LT AAsf New Rating AA(EXP)sf
Class B notes
IT0005565806 LT A+sf New Rating A(EXP)sf
Class C notes
IT0005565814 LT BBB+sf New Rating BBB(EXP)sf
Class D notes
IT0005565822 LT BBB-sf New Rating BBB-(EXP)sf
Class E notes
IT0005565830 LT BB+sf New Rating BB+(EXP)sf
Class Z notes
IT0005565855 LT NRsf New Rating NR(EXP)sf
TRANSACTION SUMMARY
The transaction is a 14-month revolving securitisation of Italian
auto loans originated by Stellantis Financial Services Italia
S.p.A. (not rated), the financial captive company of Stellantis
N.V. (BBB+/Stable).
The proceeds of the euro-denominated notes have been used to fund
the purchase of a portfolio comprising auto loans with balloon or
standard amortisation granted to private or commercial borrowers to
finance new and used cars. Part of the proceeds has been used to
fund a cash reserve.
The class B and C notes' final ratings are one notch higher than
the expected ratings due to revised note margins and a lower swap
rate.
KEY RATING DRIVERS
Low Expected Defaults: Fitch has observed lower historical default
rates than for other captive auto loan lenders operating in Italy.
Asset assumptions were separately derived for different products
(balloon versus amortising, new versus used cars, commercial versus
private borrowers), reflecting different performance expectations
and product features. Fitch has assumed a weighted average (WA)
base-case lifetime default and recovery rate of 1.9% and 43.3%,
respectively, for the stressed portfolio.
Significant Balloon Risk: Balloon loans make up about 59.3% of the
initial portfolio's pool balance, while the remainder comprises
amortising auto loans. Balloon loan borrowers may face a payment
shock at maturity if they cannot refinance the balloon amount,
return the car to the dealer or sell it. Fitch has considered this
additional default risk by applying a higher default multiple for
balloon loans. The WA default multiple for the stressed portfolio
is 5.7x at 'AAsf' for the stressed portfolio.
Sensitivity to Pro Rata Amortisation: The class A to D notes can
repay pro rata until a sequential redemption event occurs. In its
base case scenario, Fitch views the switch to sequential
amortisation as unlikely, given the portfolio loss expectations
compared with performance triggers. The mandatory switch to
sequential pay-down when the outstanding collateral balance falls
below a certain threshold successfully mitigates tail risk.
Replacement Servicer Fee Reserve: The transaction features an
amortising replacement servicer fee reserve (RSFR), funded by
Santander Consumer Finance, S.A. (SCF, A-/Stable/F2), subject to
certain triggers. The SPV will rely on the reserve to cover the
fees charged by a replacement servicer. In Fitch's view, the RSFR
provides coverage of 'AAsf' 0.9% servicing fees for the lifetime of
the transaction, independent of the point in time the reserve needs
to be filled by SCF. Therefore, Fitch did not model servicing fees
in its cash flow analysis.
'AAsf' Sovereign Cap: Italian structured finance transactions are
capped at six notches above Italy's Issuer Default Rating (IDR;
BBB/Stable/F2), which is the case for the class A notes. The Stable
Outlook on the notes reflects that on the sovereign.
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade
The class A notes' rating is sensitive to changes in Italy's
Long-Term IDR. A downgrade of Italy's IDR and revision of the
related rating cap for Italian structured finance transactions,
currently 'AAsf', could trigger a downgrade of the class A notes.
An unexpected increase in the frequency of defaults or decrease of
the recovery rates could produce larger losses than the base case.
For example, a simultaneous increase of the default base case by
25% and a decrease of the recovery base case by 25% would lead to
downgrades of up to two notches for the class B to E notes.
Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade
The class A notes' rating is sensitive to changes in Italy's
Long-Term IDR. An upgrade of Italy's IDR and revision of the
related rating cap for Italian structured finance transactions,
currently 'AAsf', could trigger an upgrade of the class A notes,
provided credit enhancement is sufficient to withstand stresses
associated with higher rating scenarios.
An unexpected decrease of the frequency of defaults or increase of
the recovery rates could produce smaller losses lower than the base
case. For example, a simultaneous decrease of the default base case
by 25% and an increase of the recovery base case by 25% would lead
to upgrades of up to three notches for the class B to D notes.
DATA ADEQUACY
Fitch reviewed the results of a third party assessment conducted on
the asset portfolio information, and concluded that there were no
findings that affected the rating analysis.
Fitch conducted a review of a small targeted sample of the
originator's origination files and found the information contained
in the reviewed files to be adequately consistent with the
originator's policies and practices and the other information
provided to the agency about the asset portfolio.
Overall, and together with any assumptions referred to above,
Fitch's assessment of the information relied upon for the agency's
rating analysis according to its applicable rating methodologies
indicates that it is adequately reliable.
ESG CONSIDERATIONS
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
===================
L U X E M B O U R G
===================
ELEVING GROUP: Fitch Rates EUR50MM Secured Bonds Due 2028 'B-'
--------------------------------------------------------------
Fitch Ratings has assigned Eleving Group's (B-/Stable) EUR50
million senior secured bonds due in October 2028 (ISIN:
DE000A3LL7M4) a final rating of 'B-' with a Recovery Rating of
'RR4'.
The assignment of a final rating follows a review of the final
terms and conditions conforming to information already received
when Fitch assigned the expected rating (see "Fitch Rates Eleving's
Proposed Senior Secured Bonds 'B-(EXP)'/'RR4'" dated 26 September
2023).
KEY RATING DRIVERS
The bonds' rating is equalised with Eleving's 'B-' Long-Term Issuer
Default Rating (IDR), due to Fitch's expectation of average
recoveries, as reflected in its 'RR4' Recovery Rating. This is
because in Fitch's view the bonds' structural subordination to
outstanding debt at operating entities offsets their secured
nature. The bonds are guaranteed and secured by pledges on the
equity and loan portfolios of its material subsidiaries outside
sub-Saharan Africa and Uzbekistan (about 70% of Eleving's total
assets at end-1H23).
The bonds are rated at the same level as Eleving's EUR150 million
bonds due in October 2026 because they rank equally and have
similar guarantors and security package.
The net proceeds are being used to repay the EUR30 million bonds
issued by Eleving's Latvian subsidiary due in March 2024 (ISIN:
LV0000802452) as well as other funding, such as that raised on
Mintos, a Latvian-licensed platform for retail investing in loans.
The key rating drivers and the rating sensitivities for Eleving's
Long-Term IDR are outlined in its rating action commentary
published on 28 June 2023 (see "Fitch Affirms Eleving Group at
'B-'; Outlook Stable").
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade
A downgrade of Eleving's Long-Term IDR would likely be mirrored on
its senior secured bonds' rating.
Lower recovery assumptions due to, for instance, operating-entity
debt increasing in importance relative to rated debt or
worse-than-expected asset-quality trends (which could lead to
larger asset haircuts), could lead to below-average recoveries and
Fitch to notch down the rated debt from Eleving's Long-Term IDR.
Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade
An upgrade of Eleving's Long-Term IDR would likely be mirrored on
the senior secured bonds' rating.
Higher recovery assumptions due to, for instance, operating-entity
debt falling in importance compared with rated debt instruments,
could lead to above-average recoveries and Fitch to notch up the
rated debt from Eleving's Long-Term IDR.
ESG CONSIDERATIONS
The ESG Relevance Scores for Eleving are outlined in its rating
action commentary published on 28 June 2023.
Fitch's ESG Relevance Scores are not inputs in the rating process;
they are an observation on the relevance and materiality of ESG
factors in the rating decision.
Entity/Debt Rating Recovery Prior
----------- ------ -------- -----
Eleving Group
senior secured LT B- New Rating RR4 B-(EXP)
=====================
N E T H E R L A N D S
=====================
IPD 3 BV: Fitch Affirms 'B' LongTerm IDR, Outlook Stable
--------------------------------------------------------
Fitch Ratings has affirmed IPD 3 B.V.'s (trading as Infopro
Digital) Long-Term Issuer Default Rating (IDR) at 'B' with a Stable
Outlook. Fitch has also affirmed EUR975 million of senior secured
notes at 'B+'/'RR3',
IPD's rating reflects its high leverage, stemming from past
acquisitions and most recently from increased debt linked to the
partial repayment of certain shareholder loans. Fitch forecasts
EBITDA gross leverage will increase but remain within its current
sensitivities to around 5.8x at end-2023 compared with 5.0x at
end-2022. It also reflects the company's leading position in its
product niches, with a high share of subscription revenues
underpinned by strong renewal rates, established and reputable
brands, and moderate barriers to entry.
The Stable Outlook reflects Fitch's expectations of IPD's continued
ability to protect margins in an inflationary environment while
delivering organic revenue growth despite macro-economic
headwinds.
KEY RATING DRIVERS
Moderate Increase in Leverage: The refinancing of EUR815 million
bonds with EUR975 million notes in June 2023 is expected to
increase EBITDA gross leverage to 5.8x in 2023 from 5.0x in 2022.
IPD used incremental borrowings and cash for a EUR193 million
partial repayment of shareholder notes. However, Fitch does not
forecast additional shareholder loans repayment or dividend
distributions in 2024-2026. IPD has a record of deleveraging and
Fitch expects that organic growth across business lines as well as
the contribution of bolt-on acquisitions will drive EBITDA leverage
down to 4.9x in 2026.
Organic Growth, Resilient Margins: IPD reported strong organic
revenue growth of 10% in 2022 and around 9% in 1H23. The increase
was driven by a recovery in face-to-face business, expansion of
subscription-based technology solutions and price increases.
Margins remain resilient, indicating the successful pass through of
cost inflation, particularly wage costs, as approximately 55%-60%
of IPD's operating expenditure is related to payroll.
IPD remains focused on cost control and higher margin business
lines. Fitch expects that sluggish economic growth in Europe will
reduce opportunities for topline margin expansion and will slow
organic growth to mid-single digits.
Interest Cover Reduced: Higher coupon and absolute debt compared
with previous note issuances puts pressure on Fitch-adjusted EBITDA
interest cover as Fitch expects the ratio to remain below its
sensitivity of 2.8x until 2026. The EUR475 million tranche of notes
is exposed to a variable interest rate, although IPD has hedged the
exposure on EUR300 million through a two-year swap. Fitch expects
that gradual growth in EBITDA will improve the coverage ratio
closer to the sensitivity level, and in its view, weaker interest
cover is offset by its assumption that IPD will maintain adequate
liquidity.
Bolt-on Acquisitions: IPD's strategy assumes both organic growth
and through M&A. Fitch estimates bolt-on acquisitions of EUR25
million per year as growth in leverage after the refinancing
transaction reduced headroom for more meaningful debt-funded
expansion. IPD has sufficient liquidity, including an undrawn
EUR130 million revolving credit facility (RCF), to pursue larger
transactions, although a further increase in debt could negatively
impact leverage and interest coverage metrics. Takeover of a larger
target could also expose IPD to integration risks and short-term
margin pressure from restructuring costs.
Exposure to Cyclical End-Markets: In 2022, around 70% of IPD's
revenue came from more cyclical end-markets such as construction
(around 30-35% excluding public sector), auto aftermarket (21%),
and diversified industrials (20%). IPD's customer base comprises
predominately small and medium-sized enterprises, which may be more
vulnerable to a recession than larger companies. The customer base
remained resilient during the pandemic, partially due to government
and EU support. The current economic slowdown and high interest
rate environment has not yet had a material effect on IPD's
clients.
High Proportion of Subscription Revenue: Contracted sales remain
the backbone of IPD's business. The data and information segment,
which is mainly subscription revenue, makes up around two-thirds of
group revenue. Customer contracts with typical durations of one to
three years provide some profit and cash-flow generation
visibility. IPD benefits from strong customer retention rates, even
for services that are non-subscription based. In addition, IPD's
services are often an essential part of its customers' business and
account for a low proportion of operating costs, making them less
likely to be scaled back.
Established Position in Niches: IPD offers a wide range of
platforms and services but two-thirds of its revenue is generated
from 15 key brands, which are strongly positioned within their
respective niche markets. Broad data sets and experience in
tailoring information towards customers' needs, combined with
reliable services, also increases the loyalty of IPD customers and
creates barrier of entry for potential competitors
DERIVATION SUMMARY
IPD is a leading European business services provider focused on six
core sub-segments including automotive aftermarket, construction
and industrials. High leverage and smaller scale are the key
differentiating factors compared with larger peers such as RELX PLC
(BBB+/Stable), Thomson Reuters Corporation (BBB+/Stable) and Daily
Mail and General Trust Plc (BB+/Negative).
IPD benefits from a strong share of subscription revenues and has a
well-established position in its core segments, but is more exposed
to cyclical end-markets and less diversified globally. Its modest
scale also makes it more vulnerable in an economic recession, and
its face-to-face business is exposed to event risks as demonstrated
by the Covid-19 restrictions.
KEY ASSUMPTIONS
Fitch's Key Assumptions Within Its Rating Case for the Issuer:
- Revenue growth by around 6.6% in 2023, 6.1% in 2024, 5.2% in
2025, and 5.4% in 2026
- Fitch-defined EBITDA margin of 28.9% in 2023, recovering above
29% from 2024
- Capex of 9.0% of revenue in 2023-2026
- Bolt-on acquisitions of EUR25 million a year in 2023-2026
- EUR192.7 million shareholder loan repayment in 2023; no
shareholder payments
RECOVERY ANALYSIS
Key Recovery Rating Assumptions
- IPD would be considered a going concern in bankruptcy and that
the company would be reorganised rather than liquidated.
- A 10% administrative claim.
- Fitch estimates post-restructuring going concern EBITDA of EUR134
million and use an enterprise value multiple of 5.5x to estimate a
post-reorganisation value.
- After deduction of 10% administrative claims, Fitch calculates
the recovery prospects for the senior secured instruments at 55%,
assuming the super senior secured RCF of EUR130 million is fully
drawn, which implies a one-notch uplift of the ratings relative to
the company's IDR to arrive at 'B+' with a Recovery Rating of 'RR3'
for the company's EUR975 million of senior secured debt.
RATING SENSITIVITIES
Factors That Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade:
- Fitch-defined EBITDA leverage below 4.5x on a sustained basis
- Fitch defined EBITDA interest coverage above 3.3x on a sustained
basis
- Free cash flow (FCF) margin above 8% on a sustained basis
- Improved visibility on EBITDA and cash-flow generation, with
reduced exposure to the face-to-face business
- Stronger-than-expected rebound in the trade shows and information
and insights segments
Factors That Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade:
- Fitch-defined EBITDA leverage above 6.0x on a sustained basis
- Fitch defined EBITDA interest coverage failing to improve to
around 2.8x
- EBITDA margin deterioration towards 20%
- FCF margin below 3% on a sustained basis
- Sizeable, fully debt-funded acquisitions
- Material loss of subscription contracts and decline in the trade
shows and information and insights businesses
LIQUIDITY AND DEBT STRUCTURE
Adequate Liquidity: As of end-June 2023, IPD had adequate liquidity
comprising an undrawn EUR130 million RCF due 2028 and a cash
balance of EUR58 million. IPD has modest working-capital swings and
no material debt maturities until 2028 when both RCF and EUR975
million notes mature.
ISSUER PROFILE
IPD is a leading European business information services provider
located in France.
ESG CONSIDERATIONS
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
Entity/Debt Rating Recovery Prior
----------- ------ -------- -----
IPD 3 B.V. LT IDR B Affirmed B
senior secured LT B+ Affirmed RR3 B+
===========
R U S S I A
===========
UZKIMYOSANOAT JSC: Fitch Assigns BB- First-Time IDR, Outlook Stable
-------------------------------------------------------------------
Fitch Ratings has assigned JSC Uzkimyosanoat (UKS) a first time
'BB-' Long-Term Issuer Default Rating (IDR) with Stable Outlook.
The rating is equalised with that of its parent Uzbekistan
(BB-/Stable). UKS is a fully state-owned fertiliser and other
chemicals producer with strong links with the government.
Fitch assesses its Standalone Credit Profile (SCP) at 'b', which
reflects its domestic market-leading position, small scale,
unfavourable location for exports, high execution risks linked to
an ambitious capex programme, high but improving leverage and the
general weak operating environment in Uzbekistan.
KEY RATING DRIVERS
GRE Considerations: UKS's rating is equalised with Uzbekistan's in
line with Fitch's Exposure Draft: Government-Related Entities (GRE)
Rating Criteria. Fitch believes support from the government is
extremely likely.
Very Strong Oversight and Support: Fitch assesses decision making
and oversight factor as 'Very Strong' as UKS is fully state-owned.
High-level strategy and investments are set by the government in
the form of presidential decrees. The board of directors comprises
Uzbek government ministers.
Fitch views precedents of support as 'Very Strong' as the
government guaranteed around 95% of UKS's debt as of end-2022.
Under its rating case, Fitch forecasts guarantees from the
government to decline but remain relatively high, as Fitch assumes
new borrowing to fund expansionary capex is not state-guaranteed.
In a downturn, Fitch expects government support in line with the
historical precedent.
Other forms of support totalled around USD360 million through
debt-to-equity conversion and reduction or waivers on accrued
payments between 2019-2021 due to the pandemic. Over 95% of UKS's
debt is provided through state banks.
Strong Support Incentives: Fitch views the preservation of
government policy role factor as 'Strong' as UKS produces mainly
fertilisers for the agriculture industry, which is key for the
Uzbek economy. Additionally, UKS has an ambitious investment
programme seeking to reduce imports of non-fertiliser chemical
products and diversifying the production base to higher-value added
products.
Contagion Risk 'Strong': Fitch deems UKS's debt as a proxy for the
government's, despite having minimal external debt. Its debt size
is comparable with other GREs and therefore a potential default
would likely impair access or cost of financing for the government
and other GREs and may discredit the government's strategy to
attract foreign investment, which underlines its 'Strong'
assessment of contagion risk factor.
Ambitious Investments Plans; Execution Risks: UKS plans to invest
USD709 million over 2023-2028 to build three chemical clusters,
with additional funds from foreign direct investments. The clusters
will localise production of various chemical products and diversify
the asset base. UKS expects to fund these projects from planned
asset sales proceeds, cash-flow generation and foreign loans. Fitch
sees execution risks given the large scale of the projects and its
limited access to capital without government guarantees.
Asset Sales Slowly Progressing: Fitch expects proceeds of around
USD150 million from the sale of UKS's shares in Birinchi
rezinotexnika zavodi and JSC Fargonaazot in 2023 to be used to
support the increased projected capex. UKS also plans to divest its
potash and phosphorite business by 2024, subject to market
conditions. UKS's major operating subsidiary JSC Navoiyazot is also
under strategic review. Its forecast assumes successful divestment
of the potash and phosphorite business in 2024. Navoiyazot's
disposal would be treated as an event risk.
Deleveraging Capacity: The comprehensive plant modernisation and
upgrade completed in 2021 has significantly improved UKS's
efficiency and EBITDA margins. Under Fitch's fertilisers price
assumptions, Fitch forecasts EBITDA to decline to USD220 million in
2024 from USD440 million in 2022 due to lower prices and divestment
of two subsidiaries. As expansion projects are gradually completed,
Fitch expects EBITDA to rise to above USD290 million in 2026.
This translates into deleveraging from EBITDA gross leverage of
6.4x in 2021 to an average of 4x in 2023-2026. It also takes into
account a debt to equity conversion of around UZS2,600 billion in
2023.
Medium-Sized Diversified Producer: Fitch views UKS as a
medium-sized fertiliser company that benefits from good
diversification as it is the only producer in Central Asia that
produces all three main nutrients. After disposal of its two
subsidiaries, UKS will mainly produce nitrogen fertilisers. It also
produces highly profitable products such as methanol, PVC, soda ash
and other low-tonnage chemicals for the oil & gas and mining
industries. After the recent asset disposals its domestic market
share will decline to around 30% from 60% previously. Exports make
up around 30% of revenues and can earn a premium compared with
domestic prices due to limited competition in the Central Asia
region.
Medium Cost Position: Latest CRU cost-curves for ammonium nitrate
place UKS at the 3rd quartile of the global cost curve.
Historically, natural gas has been relatively cheap at below
USD3-4/mcf due to state subsidies. The government has announced
increases in natural gas and electricity prices for industrial
off-takers, in line with its agenda for market reform.
UKS's heavy dependence on natural gas as feedstock and for
electricity generation exposes its operations to operational
interruptions as heating and electricity generation are prioritised
during recurring energy shortages.
Uzbek Economy Supportive; Risks Remain: Fitch expects Uzbek GDP
growth of 5.9% for 2023 and an average of 5.7% in 2024-2025. This
underpins demand for UKS's products, which tends to be driven by
GDP.
In the medium term, growth is supported by favourable demographics
and increasing competition as the government remains committed to
structural reforms. This is balanced by Uzbekistan's exposure to
geopolitical risks due to its close economic ties to Russia, high
inflation, energy shortages and weak governance levels.
Improving Corporate Governance: Similar to other state-controlled
companies in Uzbekistan UKS's corporate governance is evolving. UKS
started publishing annual IFRS financials while interim results are
not available.
DERIVATION SUMMARY
On a standalone basis, UKS's business profile is weaker than most
EMEA Fitch-rated fertiliser peers such as OCP S.A. (BB+/Stable),
OCI N.V. (BBB-/Stable) and ICL Group Ltd. (BBB-/Stable). All three
operate multiple large-scale assets, are market leaders in their
respective markets (nitrogen fertilisers for OCI, phosphates for
OCP and bromine for ICL) and are geographically diversified. In
contrast, UKS is only a regional leader with a few small- to
medium-scale assets and some degree of end-market diversification.
Fertiglobe Plc (BBB-/Stable) benefits from advantaged feedstock and
strategically-positioned assets that enable serving most imports
markets at competitive costs. Additionally, these peers maintain
much lower leverage than UKS.
UKS's 'b' SCP is one notch higher than Nitrogenmuvek Zrt's
(B-/Stable), as UKS has higher mid-cycle EBITDA, better end-market
diversification and better cost position.
KEY ASSUMPTIONS
- Fertiliser prices in line with Fitch's price deck
- EBITDA margin moderate to around 37% in the medium term
- Disposal of Fargonaazot to be completed in 2023, disposal of
potash and phosphorite business to be completed in 2024
- Navoiyazot will remain in the group in 2023-2026
- Debt to equity conversion of UZS2,600 billion in 2023
- Dividend payout of 3% in 2023-2026 after one-off payment in 2022
- Investment capex per management's guidance funded with US dollar
loans
- JV debt guaranteed at 50% of projected capex
RATING SENSITIVITIES
Factors that could, individually or collectively, lead to positive
rating action/upgrade:
- Positive rating action on the sovereign would be reflected in
UKS's rating
- EBITDA gross leverage below 3.5x on a sustained basis and
improved geographical diversification, with materially lower
reliance on the domestic market would be positive for the SCP but
not necessarily the IDR
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
- Negative sovereign rating action
- Material weakening of links and support from the state
- Unsuccessful implementation, material delays and/or cost overruns
in cluster projects resulting in EBITDA gross leverage above 5x on
a sustained basis would be negative for the SCP but not necessarily
the IDR
Uzbekistan (rating action commentary dated 25 August 2023)
Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade
External Finances: A substantial worsening of external finances,
for example, via a large drop in remittances, or a widening in the
trade deficit, leading to a significant decline in FX reserves
Public Finances: A marked rise in the government debt-to-GDP ratio
or an erosion of sovereign fiscal buffers, for example, due to an
extended period of low growth or crystallisation of contingent
liabilities
Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade
Macro: Consistent implementation of structural reforms that boost
GDP growth prospects and macroeconomic stability
Public Finances: Fiscal consolidation that enhances medium-term
public debt sustainability
Structural: A marked and sustained improvement in governance
standards and an easing in geopolitical risk
LIQUIDITY AND DEBT STRUCTURE
Limited Liquidity Buffer: UKS's liquidity consists of primarily
cash on its balance sheet as the group does not have any revolving
facilities. As of end-June 2023, UKS had a cash balance of around
UZS435 billion (USD37 million). This does not include the final
payment from the disposal of Birinchi of UZS465 billion (USD40
million) that will be received by end-2023, and UZS799 billion
(USD70 million) from disposal of Fargonaazot that is expected to
close in November 2023. Together this is still less than the
average annual maturity of around UZS2,500 billion.
UKS's liquidity strongly relies on cash-flow generation and
divestment proceeds. While Fitch forecasts positive free cash flow
in most years in the medium term, divestment of the other two
subsidiaries will be critical to support higher capex and improve
liquidity. If the divestments are delayed, Fitch expects the group
to refinance its near-term maturities with state-owned lending.
FX Risk: UKS is subject to foreign-currency risk as around 80% of
its debt is US dollar- or Japanese yen-denominated while around 70%
of revenue is in Uzbek som. It does not use any hedging
instruments.
ISSUER PROFILE
UKS is a state-owned Uzbek producer of mineral fertilisers and
other chemical products.
PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS
UKS's rating is equalised with the sovereign's rating
ESG CONSIDERATIONS
JSC Uzkimyosanoat has an ESG Relevance Score of '4' for Governance
Structure due to limitations of board independence and
effectiveness, which has a negative impact on the credit profile,
and is relevant to the rating in conjunction with other factors.
JSC Uzkimyosanoat has an ESG Relevance Score of '4' for Financial
Transparency due to delays in the publication of IFRS accounts
compared with international best practice and the absence of
interim IFRS reporting, which has a negative impact on the credit
profile, and is relevant to the rating in conjunction with other
factors.
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
Entity/Debt Rating
----------- ------
JSC Uzkimyosanoat LT IDR BB- New Rating
===========
T U R K E Y
===========
RONESANS GAYRIMENKUL: Fitch Affirms & Withdraws 'B' LongTerm IDR
----------------------------------------------------------------
Fitch Ratings has affirmed Turkish property company Ronesans
Gayrimenkul Yatirim A.S.'s (RGY) Long-Term Issuer Default Rating
(IDR) at 'B' with a Stable Outlook and senior unsecured rating at
'B'. The Recovery Rating is 'RR4'. Fitch has subsequently withdrawn
the ratings.
The rating reflects the ongoing economic volatility in Turkiye,
where all of the company's assets are located, as well as high
foreign-currency (FX) risk. RGY's debt is mostly US dollar- or
euro-denominated , while revenue is in Turkish lira, which has
significantly depreciated. RGY improved its capital structure in
2023 by repaying its USD300 million Eurobond and refinancing a
EUR155 million secured loan. This extended the weighted-average
debt maturity to around four years.
RGY owns and operates 12 retail malls and one mixed-use asset in
seven of Turkiye's largest cities. Despite the economic volatility,
operations continue to perform well. With base rents indexed to
inflation and turnover rents tied to tenant's monthly revenue,
rental income is outpacing high inflation. Occupancy is around 97%
and footfall is exceeding pre-pandemic 2019 levels.
The rating has been withdrawn as it was taken private.
KEY RATING DRIVERS
Improved Capital Structure: In April 2023, RGY repaid its USD300
million Eurobond by cancelling previously bought EUR110 million of
the bonds and repaying most of the remaining balance through
available cash and a loan from related parties. RGY also refinanced
a EUR155 million secured loan in 2023. This extended the
weighted-average debt maturity to a still short four years. FX risk
remains high.
Around 90% of RGY's debt is US dollar- or euro-denominated, but
revenue is generated solely in lira, which has depreciated more
than 60% over the past two years. Around 16% of the
foreign-denominated debt is hedged using FX forwards. Fitch expects
RGY to reduce FX exposure by increasing the percentage of lira
debt, as well as holding cash in euro or US dollars, but this
material FX mismatch will remain.
Challenging Operating Environment Continues: Fitch expects high
inflation in Turkiye to continue. Inflation is forecast to be 65%
in 2023 (2022: 64%), but expected to slow to 40% in 2024. Inflation
is being partly driven by the sharp lira depreciation, which is
also forecast to continue. Nevertheless, the economy continues to
grow. GDP growth is forecast to exceed 4% in 2023 (2022: 5.5%) and
3% in 2024. Household consumption remains positive due to wage
increases and retail credit availability.
Rental Growth Outpacing Inflation: The base rent of all tenant
leases is indexed to inflation, although with a lag as the
measurement is over the previous 12 months. Leases also include
turnover rent provisions, which are directly tied to tenants'
monthly revenue. Tenant sales are exceeding inflation as wages are
growing and shoppers in the inflationary environment often buy
goods immediately rather than waiting for prices to escalate. As a
result, turnover rent has increased sharply and now comprises 40%
of total rent compared with 10% pre-pandemic. Total rents through
the first eight months of 2023 grew more than 80% year-on-year,
well ahead of inflation.
Small, Quality Portfolio: RGY's 13 assets were valued at around
EUR2.2 billion at share at end-2022. Although spread across seven
cities, there is a focus on Istanbul, the country's largest city.
Due to the relatively small number of malls, asset concentration is
high, with the 10 largest assets generating more than 90% of rents.
Occupancy grew to 97% at end-2022, compared with 94% at
pre-pandemic end-2019, while footfall is well ahead of pre-pandemic
levels. The occupancy cost ratio (OCR) was a low 9% at end-2022
(2019: 13.4%), providing good upside potential for rental income as
RGY estimates the maintainable level to be 13%. Collection rates
for 2022 were 97% with a bad debt ratio of 0.5%.
Minimal Earthquake and Flood Impact: RGY has two assets in the
southeast regions of Turkiye that were affected by the February
2023 earthquake. The malls did not suffer structural damage, but
Kahramanmaraş Piazza was closed for around five months. Optimum
Adana was closed for one day. In March 2023, Sanliurfa Piazza was
affected by severe flooding in the region. No structural damage
occurred, but the mall closed for around three months. The effects
were temporary and relatively small on the overall portfolio.
Maintenance and repairs for the three assets were fully covered by
insurance.
Cash-flow Leverage Improving: Cash-flow leverage has improved over
several years through the refinancing of some debt at lower
amounts, as well as higher EBITDA driven by rapidly increasing
rents. Proportionally consolidated net debt to EBITDA at end-2022
was 8.2x compared with over 17x at end-2021 when the lira was
sharply depreciating, but inflation was comparatively low. Fitch
forecasts cash-flow leverage to further fall to 7x by end-2023 as
rents continue to drive EBITDA growth. The company is spending
limited capex and is not issuing dividends. Fitch expects
proportionally consolidated EBITDA net interest coverage to be
slightly above 1x over the forecast period , owing to increasing
interest rates.
Shareholder Agreement Limits Parent Influence: Group holding
company Ronesans Emlak Gelistirme Holding and Singapore's GIC have
entered into a shareholder agreement that adequately ring-fences
RGY from its parent companies to allow Fitch to assess RGY on a
standalone basis. Both key shareholders must provide consent for
all major decisions, including dividends. RGY retains separate
financing with no cross-defaults or guarantees to the wider holding
group.
DERIVATION SUMMARY
RGY operates in a more volatile operating environment than other
EMEA real estate companies. While inflation has increased across
most EMEA countries over the past year, it has exceeded 50% in
Turkiye. In addition, the lira has depreciated sharply compared
with other EMEA currencies. This exposes RGY to much higher FX risk
than EMEA peers as most company debt is denominated in euros or US
dollars. However, revenue is only in lira due to a 2018 government
decree that prohibits linking leases to foreign currencies.
This mismatch of debt and rental currencies continues to pressure
RGY's rating. Central and Eastern European real estate companies,
such as NEPI Rockcastle N.V.'s (BBB+/Stable) and Globalworth Real
Estate Investments Limited (BBB-/Negative), link their leases to
the euro, passing foreign-currency risk to tenants.
RGY's operational performance remains positive. RGY's OCR was 9% at
end-2022, which is low compared with most peers. Occupancy rates
exceed 97%, which is similar or better than many peers that operate
in more stable economic environments. While most rated EMEA peers
have turnover provisions in their leases, turnover rents usually
comprise less than 10% of total rental revenue. Because of the high
inflation, as well as continued consumer spending, RGY's turnover
rents have grown significantly and now comprise around 40% of total
rental revenue.
KEY ASSUMPTIONS
Fitch's Key Assumptions Within Its Rating Case for the Issuer:
- Rental income increasing by around 70% in 2023, mainly driven by
inflation and higher turnover rents, but slowing to under 20% after
2023.
- Inflation rates based on Fitch's Global Economic Outlook
published in September 2023.
- Capex limited to maintenance in 2023 and 2024, but increasing
afterwards.
- Land disposals of around TRY1.4 billion in 2024.
- No dividends paid
RECOVERY ANALYSIS
Recovery Analysis Assumptions
Its recovery analysis is based on a liquidation value approach,
which yields a higher value than a going-concern approach. It
assumes RGY will be liquidated in a bankruptcy rather than
reorganised.
The liquidation estimate reflects Fitch's view of the value of
balance-sheet assets that can be realised in a sale or liquidation
conducted during bankruptcy or insolvency proceedings and
distributed to creditors.
Fitch has applied a 100% discount to cash held.
Fitch has applied a 25% discount to account receivables based on an
analysis of RGY's receivables and a peer analysis.
Fitch has applied a 40% discount to RGY's unsecured investment
properties based on the assets' quality and a peer analysis.
Fitch has excluded the group's secured debt and related pledged
assets from this senior unsecured debt recovery to reflect the
ability secured creditors would have to capture the assets'
cashflows and to potentially control the monetisation process.
Fitch has assumed secured creditors will recover their debt from
the sales of the secured assets.
After a deduction of 10% for administrative claims, and taking into
account Fitch's Country-Specific Treatment of Recovery Ratings
Criteria, its waterfall analysis generated a waterfall-generated
recovery computation (WGRC) in the 'RR4' band, indicating a 'B'
instrument rating. The WGRC output percentage on current metrics
and assumptions was 50%.
RATING SENSITIVITIES
Not applicable, as the ratings have been withdrawn.
LIQUIDITY AND DEBT STRUCTURE
Tight Liquidity: RGY repaid its USD300 million Eurobond in April
2023. The company had cancelled previously bought USD110 million of
the bonds, repaying the remaining USD190 million through cash and a
loan from related parties. This repayment, along with the
refinancing of a EUR155 million secured loan, extended the debt
maturity schedule to around four years. As the availability of
long-term debt is limited in Turkiye and is currently prohibitively
expensive in the international markets, the company will need to
frequently refinance its debt, which means the weighted-maturity
schedule will remain relatively short.
Liquidity remains tight. At end-2022, RGY held cash and cash
equivalents in both lira and euro equating to around TRY1 billion.
Total debt maturing in 2023 was nearly TRY10 billion, but most of
this was already refinanced or repaid by May 2023, resulting in a
liquidity ratio of slightly under 1.0x at 1H23.
The company does not have a revolving liquidity facility in line
with market practice in Turkiye. Euro-to-lira conversion for
liquidity used a TRY/EUR exchange rate of 26.
ISSUER PROFILE
RGY is a real estate company that owns and operates a portfolio of
shopping centres, as well as one mixed-use asset, in Turkiye's
largest cities.
ESG CONSIDERATIONS
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
Entity/Debt Rating Recovery Prior
----------- ------ -------- -----
Ronesans
Gayrimenkul
Yatirim A.S. LT IDR B Affirmed B
LT IDR WD Withdrawn B
senior
unsecured LT WD Withdrawn B
senior
unsecured LT B Affirmed RR4 B
===========================
U N I T E D K I N G D O M
===========================
BENCHMARK LEISURE: Goes Into Administration, Owes GBP7.8 Million
----------------------------------------------------------------
Anttoni James Numminen, Chloe Laversuch and Stuart Minting at BBC
News reports that the owner of a water park visitor attraction in
North Yorkshire has gone into administration.
Benchmark Leisure Ltd, which runs Alpamare in Scarborough,
announced earlier this month that the site had been temporarily
closed, BBC recounts.
Staff were also warned about the possibility of job losses due to
the rising cost of running the site, BBC notes.
In 2022, the firm still owed GBP7.8 million of public money after
receiving a loan of GBP9 million from Scarborough Council in 2013,
BBC discloses.
Sir Robert Goodwill, Conservative MP for Scarborough and Whitby,
has called for "a full forensic investigation" into the company's
finances, BBC relates.
Administrators for Benchmark said the situation was "complex" and
several options, including the sale of the site in Scarborough's
North Bay, were being considered, according to the Local Democracy
Reporting Service, BBC notes.
However, they stressed that it was still "early days" in the
process, BBC relays.
The GBP14 million park opened in 2016 and features indoor and
outdoor pools, waterslides and a spa.
Sir Robert said North Yorkshire Council should make it a "priority"
to try to get the venue reopened by Easter, BBC recounts.
According to BBC, a spokesperson for the council said the authority
would liaise with the administrators and that it was "considering
all options available to us at this time with a view to minimising
the impact on us and the Scarborough area".
IRWELL WORKS: Goes Into Liquidation, Ceases Operations
------------------------------------------------------
Alice Gerrard at Lancashire Telegraph reports that a brewery in
Ramsbottom is going into liquidation due to increasing costs -- but
the pub will remain trading.
According to Lancashire Telegraph, Irwell Works Brewery on Irwell
Street in Ramsbottom is in the process of appointing a liquidator.
The business will be holding a virtual meeting of creditors on Oct.
31 to make the appointment, Lancashire Telegraph discloses.
The nominated liquidator, Michael Royce, of M.R. Insolvency, based
in Leeds is currently dealing with matters, Lancashire Telegraph
relates.
Mr. Royce, as cited by Lancashire Telegraph, said: "Unfortunately,
due to the ever-increasing costs of overheads and staffing costs
that have impacted the business the director has taken the decision
to cease trading and place the company into liquidation.
"Whilst this company will be trading, the former operators are
going to restart their company and continue the running of the
pub.
"I'm sure this will be great news for its loyal customers."
LUXTRIPPER LTD: Enters Administration, Assets Put Up for Sale
-------------------------------------------------------------
Business Sale reports that Luxtripper Ltd, a luxury travel
organiser, has shut down operations with administrators from
ReSolve putting a "for sale" sign over the business assets.
This follows the failure of an expedited merger and acquisition
process, the primary goal of which was to swiftly secure rescue
funds or identify a potential buyer for the company as a going
concern, Business Sale notes.
ReSolve partners Chris Farrington and Simon Jagger have taken on
the roles of joint administrators for the business, Business Sale
discloses. Given Luxtripper's challenging financial situation and
the limited time available for rescue, the most feasible solution
was to proceed with an asset sale, which is set to finalise in the
upcoming days, Business Sale relates.
Unfortunately, this development means that Luxtripper will cease
its operations, Business Sale states. As a result, 60 of its
UK-based employees have been laid off, Business Sale recounts.
ReSolve has prioritised offering assistance to these employees,
including guidance on claiming redundancy payments, Business Sale
notes. Meanwhile, the Civil Aviation Authority (CAA) will extend
its support to the existing clientele of Luxtripper, Business Sale
says.
According to Business Sale, Chris Farrington, a partner at ReSolve
and one of the joint administrators, commented, "Despite some of
the highest interest we've seen from potential bidders,
unfortunately the current investment climate meant that a rapid
rescue of the business that secured the jobs of Luxtripper's
employees was not achievable. ReSolve will now be focused on
achieving the best possible results for creditors, including
finalising the asset sale, and supporting employees through the
redundancy process."
REAL BREWING: Enters Administration, Two Sites Put Up for Sale
--------------------------------------------------------------
Joseph Ash at DerbyshireLive reports that a number of popular Derby
and Derbyshire pubs and bars are set to close or be sold after the
company that operates them announced it has entered
administration.
Real Brewing Pub Company operates The Greyhound and The Clubhouse
in Friar Gate and Derby Brewing Tap House, Derwent Street, as well
as several pubs across the county.
According to DerbyshireLive, a spokesperson for the company --
which is the pub company arm of Derby Brewing Company -- announced
on Friday, Oct. 27, that Real Brewing Pub Company had entered
administration. As a result of this, the Clubhouse will close with
immediate effect, alongside The Pig in Lichfield and The Pointing
Dogs in Matlock, DerbyshireLive states.
The company's two freehold sites -- The Greyhound and Derby Brewing
Tap House -- will be sold, DerbyshireLive discloses. Both will
remain open and are now being marketed by the administrator,
DerbyshireLive notes.
The brewery side of the business will not be affected and will
continue to operate going forward. Two of the sites, the Hole in
the Wall, Mickleover and NOTSA, Aston on Trent, will continue to be
operated by Derby Brewing under a new pub company, according to
DerbyshireLive.
"It has been an extremely challenging trading environment over the
last couple of years, including the pandemic, increased loan
burdens on the back of this, ongoing recruitment challenges,
soaring interest rates, supplier cost increases, cost of living
crisis resulting in reduced trade and huge increases in the cost
base with uncapped energy contracts," DerbyshireLive quotes a
spokesperson for Derby Brewing as saying.
"In spite of these challenges we had a plan in place to continue to
steer through this however the business has HMRC arrears
predominantly from the pandemic, like many in the industry, the
HMRC had been working with us however this recently changed and the
debt was demanded to be paid back within a short period, which
meant the we could no longer continue to trade."
WIGGLECRC: Mike Ashley's Frasers Group Among Potential Buyers
-------------------------------------------------------------
Mark Kleinman at Sky News reports that the high street empire
founded by Mike Ashley is weighing an offer for Wiggle, the online
bikes retailer which collapsed into administration recently.
Sky News has learnt that London-listed Frasers Group, which is best
known for its Sports Direct chain, is among the suitors circling
WiggleCRC.
The collapsed company, which includes Wiggle, Chain Reaction Cycles
and the Vitus and Nukeproof cycling brands, became insolvent after
losing the financial support of parent company Signa Sports United,
Sky News recounts.
It comes just days after Frasers struck a deal to buy Germany's
SportScheck chain, also from Signa, Sky News notes.
Acquiring Wiggle would add it to a portfolio of retail brands which
also includes Evans Cycles, Sky News states.
WiggleCRC employs about 450 people, and is continuing to trade
during the administration process, Sky News discloses.
FRP Advisory has been appointed to handle the insolvency, Sky News
relates.
According to Sky News, Tony Wright, partner at FRP and joint
administrator, said: "WiggleCRC is one of Europe's best-known
sports retailers and has built a committed customer following in
the cycling community.
"The administration provides a crucial period of protection for
WiggleCRC as we prepare to market the business for sale.
"The group has a quality stable of brands and a leading market
position, so we expect there to be interest and encourage potential
buyers to come forward."
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week October 23 to October 27, 2023
-------------------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- ------- -----
Republic of Austria Gov 0.850 6/30/2120 EUR 38.067
MC Brazil Downstream Tr 7.250 6/30/2031 USD 63.557
Vedanta Resources Ltd 6.125 8/9/2024 USD 64.872
Altice France Holding S 8.000 5/15/2027 EUR 47.042
Tele Columbus AG 3.875 5/2/2025 EUR 64.643
Altice Finco SA 4.750 1/15/2028 EUR 63.377
Atento Luxco 1 SA 8.000 2/10/2026 USD 0.459
Altice France Holding S 10.500 5/15/2027 USD 51.544
United Kingdom Gilt 0.625 7/31/2035 GBP 64.443
Unigel Luxembourg SA 8.750 10/1/2026 USD 38.757
EnfraGen Energia Sur SA 5.375 12/30/2030 USD 72.565
Tullow Oil PLC 7.000 3/1/2025 USD 69.751
Vedanta Resources Finan 8.950 3/11/2025 USD 66.583
Samhallsbyggnadsbolaget 2.875 EUR 9.777
Heimstaden AB 4.375 3/6/2027 EUR 52.018
Pro-Gest SpA 3.250 12/15/2024 EUR 70.518
DIC Asset AG 2.250 9/22/2026 EUR 52.863
Samhallsbyggnadsbolaget 2.250 8/12/2027 EUR 59.156
Ukraine Government Inte 7.750 8/1/2041 USD 46.653
Trinseo Materials Opera 5.125 4/1/2029 USD 54.031
Casino Guichard Perrach 4.498 3/7/2024 EUR 1.445
Samhallsbyggnadsbolaget 1.750 1/14/2025 EUR 74.086
SBB Treasury Oyj 1.125 11/26/2029 EUR 54.139
Samhallsbyggnadsbolaget 2.624 EUR 10.145
DEMIRE Deutsche Mittels 1.875 10/15/2024 EUR 62.531
Barclays PLC 4.375 USD 68.125
Samhallsbyggnadsbolaget 1.125 9/4/2026 EUR 64.399
Gol Finance SA 7.000 1/31/2025 USD 59.004
Braskem Netherlands Fin 5.875 1/31/2050 USD 74.362
Standard Chartered PLC 4.300 USD 75.955
SBB Treasury Oyj 0.750 12/14/2028 EUR 54.801
United Kingdom Inflatio 0.125 3/22/2051 GBP 74.535
Casino Guichard Perrach 3.992 EUR 0.337
Altice France SA/France 3.375 1/15/2028 EUR 69.731
ams-OSRAM AG 2.125 11/3/2027 EUR 69.889
Samhallsbyggnadsbolaget 2.625 EUR 10.247
Atos SE 1.000 11/12/2029 EUR 59.940
Kenbourne Invest SA 4.700 1/22/2028 USD 59.895
French Republic Governm 0.750 5/25/2053 EUR 50.249
Altice France Holding S 4.000 2/15/2028 EUR 38.708
BNP Paribas SA 4.500 USD 72.391
Heimstaden AB 6.750 EUR 39.575
United Kingdom Gilt 1.125 1/31/2039 GBP 61.605
Vedanta Resources Finan 9.250 4/23/2026 USD 60.231
Canary Wharf Group Inve 3.375 4/23/2028 GBP 64.230
Thames Water Kemble Fin 4.625 5/19/2026 GBP 67.475
Casino Guichard Perrach 4.022 EUR 0.265
Mitsubishi UFJ Investor 8.326 12/15/2050 EUR 46.744
Altice France SA/France 5.125 7/15/2029 USD 69.787
Casino Guichard Perrach 4.048 8/5/2026 EUR 1.500
Altice France SA/France 4.250 10/15/2029 EUR 69.057
Liquid Telecommunicatio 5.500 9/4/2026 USD 62.855
Heimstaden AB 7.896 10/15/2025 SEK 62.011
Intrum AB 3.500 7/15/2026 EUR 74.955
Heimstaden AB 4.250 3/9/2026 EUR 51.354
Vivion Investments Sarl 3.500 11/1/2025 EUR 73.517
La Financiere Atalian S 4.000 5/15/2024 EUR 72.485
Altice France Holding S 6.000 2/15/2028 USD 41.416
Maxeda DIY Holding BV 5.875 10/1/2026 EUR 73.647
Heimstaden Bostad AB 3.248 EUR 56.070
Casino Guichard Perrach 5.250 4/15/2027 EUR 1.500
Herens Midco Sarl 5.250 5/15/2029 EUR 53.750
Global Fashion Group SA 1.250 3/15/2028 EUR 72.180
AI Candelaria Spain SA 5.750 6/15/2033 USD 72.532
Castellum AB 3.125 EUR 72.264
Citycon Oyj 4.496 EUR 65.840
Casino Guichard Perrach 6.625 1/15/2026 EUR 1.512
Ukraine Government Inte 7.750 9/1/2024 USD 33.724
Ukraine Government Inte 6.750 6/20/2028 EUR 26.690
BNP Paribas SA 4.625 USD 72.589
AT Securities BV 7.747 USD 44.500
Ukraine Government Inte 7.750 9/1/2026 USD 29.840
Metalcorp Group SA 8.500 6/28/2026 EUR 1.975
Intrum AB 3.000 9/15/2027 EUR 66.636
United Kingdom Gilt 0.875 1/31/2046 GBP 47.777
Ukraine Government Inte 4.375 1/27/2032 EUR 24.363
Codere Finance 2 Luxemb 12.750 11/30/2027 EUR 25.000
State of North Rhine-We 0.950 1/10/2121 EUR 37.072
Fastighets AB Balder 2.873 6/2/2081 EUR 66.847
Allianz SE 3.875 USD 68.069
Heimstaden Bostad AB 2.625 EUR 42.916
Standard Chartered PLC 4.750 USD 74.500
gategroup Finance Luxem 3.000 2/28/2027 CHF 66.231
Unibail-Rodamco-Westfie 2.125 EUR 74.067
GTC Aurora Luxembourg S 2.250 6/23/2026 EUR 71.802
United Kingdom Gilt 1.750 9/7/2037 GBP 70.701
Dignity Finance PLC 4.696 12/31/2049 GBP 60.801
United Kingdom Gilt 1.250 10/22/2041 GBP 58.751
Banco Santander SA 3.625 EUR 64.961
Aegon NV 3.939 USD 75.808
Clariane SE 2.250 10/15/2028 EUR 64.534
Ideal Standard Internat 6.375 7/30/2026 EUR 62.614
Fastighets AB Balder 1.250 1/28/2028 EUR 72.825
Prosus NV 4.987 1/19/2052 USD 66.521
Grand City Properties S 2.500 EUR 49.843
VTR Finance NV 6.375 7/15/2028 USD 43.350
Turkey Government Bond 10.500 8/11/2027 TRY 72.150
Altice France SA/France 5.500 1/15/2028 USD 73.991
Coruripe Netherlands BV 10.000 2/10/2027 USD 73.071
Heimstaden AB 9.753 SEK 40.693
ING Groep NV 3.875 USD 74.001
United Kingdom Gilt 1.625 10/22/2071 GBP 46.266
Romanian Government Int 2.875 4/13/2042 EUR 60.941
Kernel Holding SA 6.500 10/17/2024 USD 69.167
Casino Guichard Perrach 3.580 2/7/2025 EUR 1.500
Canary Wharf Group Inve 1.750 4/7/2026 EUR 69.268
Heimstaden Bostad Treas 1.625 10/13/2031 EUR 61.784
Romanian Government Int 2.000 1/28/2032 EUR 73.167
Grand City Properties S 1.500 EUR 42.759
MorphoSys AG 0.625 10/16/2025 EUR 72.600
Altice France SA/France 5.500 10/15/2029 USD 70.569
United Kingdom Inflatio 0.125 11/22/2065 GBP 71.732
Eolo SpA 4.875 10/21/2028 EUR 72.010
Deutsche Bank AG 4.625 EUR 71.845
Teva Pharmaceutical Fin 4.100 10/1/2046 USD 63.837
Romanian Government Int 2.750 4/14/2041 EUR 60.923
Deutsche Bank AG 4.500 EUR 73.393
Kernel Holding SA 6.750 10/27/2027 USD 59.158
Carnival PLC 1.000 10/28/2029 EUR 66.381
Heimstaden AB 8.638 4/14/2025 SEK 67.573
Altice France SA/France 4.125 1/15/2029 EUR 69.570
Heimstaden Bostad AB 3.625 EUR 44.883
Aroundtown SA 2.125 EUR 34.481
Gol Finance SA 8.000 6/30/2026 USD 55.133
Nordea Bank Abp 3.750 USD 75.193
UBS Group AG 0.625 1/18/2033 EUR 69.664
UBS Group AG 4.375 USD 73.000
Ukraine Government Inte 7.750 9/1/2025 USD 32.945
ATF Netherlands BV 7.078 EUR 44.033
Unicaja Banco SA 4.875 EUR 71.510
Hellenic Republic Gover 1.875 1/24/2052 EUR 60.743
Ukraine Railways Via Ra 8.250 7/9/2026 USD 43.414
Heimstaden Bostad AB 3.375 EUR 46.171
Aragvi Finance Internat 8.450 4/29/2026 USD 66.775
Aroundtown SA 0.375 4/15/2027 EUR 74.233
NAK Naftogaz Ukraine vi 7.625 11/8/2026 USD 39.647
Mallinckrodt Internatio 10.000 6/15/2029 USD 16.375
Euroboden GmbH 5.500 10/1/2024 EUR 1.307
Ukraine Government Inte 9.750 11/1/2030 USD 29.844
Russian Foreign Bond - 5.100 3/28/2035 USD 35.466
Abengoa Abenewco 2 SA 1.500 10/26/2024 EUR 2.391
JSM Global Sarl 4.750 10/20/2030 USD 13.750
United Kingdom Inflatio 0.125 3/22/2058 GBP 72.402
VEON Holdings BV 3.375 11/25/2027 USD 68.834
Heimstaden Bostad Treas 1.000 4/13/2028 EUR 71.517
Aroundtown SA 3.375 EUR 42.026
Prosus NV 3.832 2/8/2051 USD 56.085
Delivery Hero SE 2.125 3/10/2029 EUR 69.573
NatWest Group PLC 4.600 USD 67.750
Aegon NV 0.496 NLG 64.787
Grupo Antolin-Irausa SA 3.500 4/30/2028 EUR 73.627
B2W Digital Lux Sarl 4.375 12/20/2030 USD 13.750
Italy Buoni Poliennali 1.500 4/30/2045 EUR 59.498
InterCement Financial O 5.750 7/17/2024 USD 67.307
Russian Foreign Bond - 4.375 3/21/2029 USD 48.313
NIBC Bank NV 2.850 2/21/2040 EUR 56.389
NAK Naftogaz Ukraine vi 7.125 7/19/2026 EUR 35.733
Dtek Renewables Finance 8.500 11/12/2024 EUR 51.858
AnaCap Financial Europe 8.725 8/1/2024 EUR 48.520
ING Groep NV 4.250 USD 67.592
Berkeley Group PLC/The 2.500 8/11/2031 GBP 66.670
Ukraine Government Inte 8.994 2/1/2026 USD 30.680
Hungary Government Inte 1.750 6/5/2035 EUR 69.227
Altice France SA/France 4.000 7/15/2029 EUR 68.844
Ukraine Government Inte 7.750 9/1/2029 USD 29.736
Aroundtown SA 1.625 EUR 31.817
Zenith Finco PLC 6.500 6/30/2027 GBP 74.397
MHP SE 7.750 5/10/2024 USD 68.199
Mithra Pharmaceuticals 4.250 12/17/2025 EUR 46.946
Compact Bidco BV 5.750 5/1/2026 EUR 64.059
VGP NV 1.500 4/8/2029 EUR 73.785
Air France-KLM 0.125 3/25/2026 EUR 17.404
Vodafone Group PLC 5.125 6/4/2081 USD 70.118
La Financiere Atalian S 5.125 5/15/2025 EUR 68.499
HSE Finance Sarl 5.625 10/15/2026 EUR 53.850
Gross & Partner Grundst 5.000 2/21/2025 EUR 64.983
United Kingdom Inflatio 0.125 11/22/2056 GBP 72.865
Deutsche Pfandbriefbank 8.474 EUR 68.747
Agps Bondco PLC 6.000 8/5/2025 EUR 38.318
French Republic Governm 1.750 5/25/2066 EUR 63.800
Clariane SE 1.875 EUR 29.290
Orpea SA 2.625 3/10/2025 EUR 26.486
Samhallsbyggnadsbolaget 7.500 6/26/2025 NOK 72.277
Samhallsbyggnadsbolaget 3.120 11/28/2024 NOK 73.000
Ziggo Bond Co BV 3.375 2/28/2030 EUR 74.437
BCP V Modular Services 6.750 11/30/2029 EUR 73.983
Codere Finance 2 Luxemb 11.000 9/30/2026 EUR 74.578
Agps Bondco PLC 4.250 7/31/2025 EUR 71.347
Samhallsbyggnadsbolaget 6.696 1/30/2027 SEK 60.185
Abengoa Abenewco 2 SA 1.500 10/26/2024 EUR 2.391
Mallinckrodt Internatio 10.000 4/15/2025 USD 11.000
Republic of Italy Gover 4.000 10/17/2049 USD 70.994
BAT International Finan 2.250 9/9/2052 GBP 39.988
Russian Railways Via RZ 0.898 10/3/2025 CHF 62.877
Russian Foreign Bond - 2.875 12/4/2025 EUR 62.542
EP Infrastructure AS 1.816 3/2/2031 EUR 68.147
Commerzbank AG 4.250 EUR 74.192
Ocado Group PLC 0.750 1/18/2027 GBP 72.782
Balder Finland Oyj 1.000 1/20/2029 EUR 65.939
Castellum Helsinki Fina 0.875 9/17/2029 EUR 71.124
EIG Pearl Holdings Sarl 4.387 11/30/2046 USD 74.942
HOCHDORF Holding AG 2.500 CHF 28.242
Romanian Government Int 4.000 2/14/2051 USD 67.251
Gazprom PJSC via Gaz Fi 3.897 EUR 60.008
Atento Luxco 1 SA 8.000 2/10/2026 USD 0.513
Spain Government Bond 1.000 10/31/2050 EUR 50.770
NGD Holdings BV 6.750 12/31/2026 USD 70.757
Atos SE 2.500 11/7/2028 EUR 69.403
Russian Railways Via RZ 3.125 CHF 39.953
Republic of Austria Gov 1.500 11/2/2086 EUR 55.505
TotalEnergies SE 3.250 EUR 74.030
Aroundtown SA 2.875 EUR 35.070
Intesa Sanpaolo SpA 4.125 EUR 73.969
Metro Bank PLC 9.139 6/26/2028 GBP 61.825
CPI Property Group SA 4.875 EUR 34.712
CPI Property Group SA 1.500 1/27/2031 EUR 55.779
Turkey Government Bond 10.400 10/13/2032 TRY 64.350
Allianz SE 2.600 EUR 66.937
CaixaBank SA 3.625 EUR 69.028
Gazprom PJSC via Gaz Fi 1.540 6/30/2027 CHF 61.291
Nykredit Realkredit AS 1.000 10/1/2050 DKK 71.448
Idorsia Ltd 2.125 8/4/2028 CHF 45.583
CPI Property Group SA 3.750 EUR 28.080
Intesa Sanpaolo SpA 4.198 6/1/2032 USD 74.807
CNP Assurances SACA 4.875 USD 74.526
Audax Renovables SA 4.200 12/18/2027 EUR 65.119
Balder Finland Oyj 2.000 1/18/2031 EUR 63.301
Diebold Nixdorf Dutch H 9.000 7/15/2025 EUR 17.698
Heimstaden Bostad Treas 1.375 7/24/2028 EUR 70.601
Accor SA 0.700 12/7/2027 EUR 45.867
LEG Immobilien SE 0.750 6/30/2031 EUR 72.796
Signa Development Finan 5.500 7/23/2026 EUR 70.375
Samhallsbyggnadsbolaget 7.422 SEK 10.033
Hungary Government Bond 3.000 10/27/2038 HUF 60.745
CPI Property Group SA 4.875 EUR 37.752
Mutuelle Assurance Des 3.500 EUR 71.737
Electricite de France S 4.500 12/4/2069 USD 66.868
United Kingdom Gilt 1.750 7/22/2057 GBP 52.534
Swedbank AB 4.000 USD 72.319
Vonovia SE 1.625 9/1/2051 EUR 47.092
Rallye SA 4.371 2/28/2032 EUR 0.159
Heimstaden Bostad AB 3.000 EUR 44.839
Gazprom PJSC via Gaz Fi 1.500 2/17/2027 EUR 63.966
Nexity SA 0.250 3/2/2025 EUR 58.481
Raiffeisen Bank Interna 4.500 EUR 61.395
Euroboden GmbH 5.500 11/18/2025 EUR 1.851
EQT AB 0.875 5/14/2031 EUR 73.352
Heimstaden Bostad Treas 0.750 9/6/2029 EUR 63.440
Citycon Oyj 3.625 EUR 51.951
Delivery Hero SE 1.500 1/15/2028 EUR 71.823
Intesa Sanpaolo SpA 4.950 6/1/2042 USD 63.959
Cie de Phalsbourg Sarl 5.000 3/27/2024 EUR 64.658
Wirecard AG 0.500 9/11/2024 EUR 14.354
Kleopatra Holdings 2 SC 6.500 9/1/2026 EUR 63.174
Kingdom of Belgium Gove 0.400 6/22/2040 EUR 60.955
Codere Finance 2 Luxemb 13.625 11/30/2027 USD 9.125
Koninklijke Luchtvaart 0.750 CHF 24.250
Allianz SE 2.625 EUR 70.269
Russian Foreign Bond - 4.750 5/27/2026 USD 55.840
Prosus NV 4.027 8/3/2050 USD 58.501
Nostrum Oil & Gas Finan 5.000 6/30/2026 USD 64.576
Hungary Government Bond 2.250 4/20/2033 HUF 67.058
Bank Gospodarstwa Krajo 0.500 7/8/2031 EUR 72.821
YIT Oyj 5.750 EUR 74.238
Stellantis NV 1.250 6/20/2033 EUR 73.506
Clariane SE 0.875 3/6/2027 EUR 42.473
Republic of Italy Gover 3.875 5/6/2051 USD 68.555
BPCE SFH SA 0.010 1/29/2036 EUR 64.866
Agps Bondco PLC 5.000 1/14/2029 EUR 28.476
Logicor Financing Sarl 0.875 1/14/2031 EUR 66.943
Gazprom PJSC via Gaz Fi 3.250 2/25/2030 USD 62.217
Aroundtown SA 1.450 7/9/2028 EUR 70.259
Aroundtown SA 1.625 1/31/2028 EUR 73.346
United Kingdom Gilt 1.750 1/22/2049 GBP 57.208
Serbia International Bo 1.650 3/3/2033 EUR 67.266
Kojamo Oyj 0.875 5/28/2029 EUR 71.613
Just Eat Takeaway.com N 0.625 2/9/2028 EUR 67.075
Hungary Government Inte 3.125 9/21/2051 USD 59.297
Ukraine Government Bond 9.790 5/26/2027 UAH 53.822
La Banque Postale SA 3.000 EUR 65.992
UBM Development AG 5.500 EUR 73.521
Romanian Government Int 2.625 12/2/2040 EUR 60.800
TotalEnergies SE 2.125 EUR 72.770
Atrium Finance PLC 2.625 9/5/2027 EUR 73.298
Aroundtown SA 4.750 GBP 36.925
Orpea SA 0.375 5/17/2027 EUR 42.913
Metinvest BV 8.500 4/23/2026 USD 66.000
Altice France SA/France 5.125 1/15/2029 USD 69.919
Offshore Drilling Holdi 8.375 9/20/2020 USD 1.375
Polyus Finance PLC 3.250 10/14/2028 USD 61.664
Solocal Group 10.526 3/15/2025 EUR 39.693
Prosus NV 2.778 1/19/2034 EUR 72.167
Garfunkelux Holdco 3 SA 7.750 11/1/2025 GBP 74.779
Julius Baer Group Ltd 3.625 USD 68.936
Yorkshire Water Finance 2.750 4/18/2041 GBP 62.623
CTP NV 1.500 9/27/2031 EUR 71.721
Endo Luxembourg Finance 6.125 4/1/2029 USD 72.000
Flamingo Lux II SCA 5.000 3/31/2029 EUR 64.417
Italy Buoni Poliennali 1.800 3/1/2041 EUR 67.867
BPCE SA 2.125 10/13/2046 EUR 73.398
Direct Line Insurance G 4.750 GBP 66.911
NAK Naftogaz Ukraine vi 7.375 7/19/2022 USD 58.550
Rallye SA 4.000 2/28/2032 EUR 0.139
Russian Railways Via RZ 0.840 3/12/2026 CHF 53.424
Brit Insurance Holdings 3.676 12/9/2030 GBP 71.591
Digital Dutch Finco BV 1.000 1/15/2032 EUR 71.658
Union Fenosa Preferente 5.248 EUR 70.923
Ageas SA/NV 3.875 EUR 72.999
Interpipe Holdings PLC 8.375 5/13/2026 USD 66.004
Metinvest BV 5.625 6/17/2025 EUR 69.449
Ilija Batljan Invest AB 6.975 12/15/2024 SEK 24.799
Haya Holdco 2 PLC 12.462 11/30/2025 EUR 38.536
Tinkoff Bank JSC Via TC 6.000 USD 48.864
Gazprom PJSC via Gaz Fi 3.500 7/14/2031 USD 60.228
Gazprom PJSC via Gaz Fi 3.000 6/29/2027 USD 71.000
E.ON SE 0.875 10/18/2034 EUR 73.845
Boparan Finance PLC 7.625 11/30/2025 GBP 66.986
Studentbostader i Norde 9.521 5/14/2024 SEK 52.100
Rothschild & Co Continu 3.470 EUR 66.358
MHP Lux SA 6.950 4/3/2026 USD 57.419
Rothesay Life PLC 4.875 USD 74.757
United Kingdom Gilt 1.625 10/22/2054 GBP 51.426
Gazprom PJSC via Gaz Fi 2.950 1/27/2029 USD 63.000
CPI Property Group SA 1.750 1/14/2030 EUR 63.433
Ukraine Railways Via Ra 7.875 7/15/2028 USD 38.684
Tullow Oil PLC 7.000 3/1/2025 USD 70.255
JT International Financ 3.300 9/14/2051 USD 60.572
ADLER Real Estate AG 3.000 4/27/2026 EUR 72.770
Republic of Austria Gov 0.750 3/20/2051 EUR 55.121
Deutsche Bank AG 1.375 2/17/2032 EUR 74.309
Shell International Fin 3.000 11/26/2051 USD 65.362
Hungary Government Inte 0.500 11/18/2030 EUR 73.282
Triodos Bank NV 2.250 2/5/2032 EUR 73.855
EnfraGen Energia Sur SA 5.375 12/30/2030 USD 72.429
Royalty Pharma PLC 3.300 9/2/2040 USD 67.287
Russian Foreign Bond - 5.625 4/4/2042 USD 67.663
Serbia International Bo 2.050 9/23/2036 EUR 62.012
Samhallsbyggnadsbolaget 6.703 4/11/2025 SEK 71.651
BAT International Finan 4.000 11/23/2055 GBP 55.959
Russian Foreign Bond - 4.250 6/23/2027 USD 52.120
Codere Finance 2 Luxemb 13.625 11/30/2027 USD 9.009
Desenio Group AB 9.221 12/16/2024 SEK 67.808
Sberbank of Russia Via 5.125 10/29/2022 USD 32.618
AerCap Ireland Capital 3.850 10/29/2041 USD 72.776
Gazprom PJSC via Gaz Fi 4.599 USD 59.500
Gazprom PJSC Via Gaz Ca 2.500 3/21/2026 EUR 72.420
BAE Systems PLC 3.000 9/15/2050 USD 64.856
La Financiere Atalian S 6.625 5/15/2025 GBP 67.753
Russian Foreign Bond - 7.500 3/31/2030 USD 66.029
Belfius Bank SA 3.625 EUR 74.938
Orsted AS 2.500 2/18/3021 GBP 66.322
Agps Bondco PLC 4.625 1/14/2026 EUR 33.449
MC Brazil Downstream Tr 7.250 6/30/2031 USD 63.279
Shell International Fin 3.250 4/6/2050 USD 69.555
Vonovia SE 0.750 9/1/2032 EUR 68.131
IOG Plc 13.072 9/20/2024 EUR 50.333
Pershing Square Holding 3.250 10/1/2031 USD 73.671
NPC Ukrenergo 6.875 11/9/2028 USD 26.766
Arrival SA 3.500 12/1/2026 USD 13.172
Sagax Euro Mtn NL BV 1.000 5/17/2029 EUR 74.027
Lloyds Banking Group PL 2.707 12/3/2035 GBP 73.126
MHP Lux SA 6.250 9/19/2029 USD 54.099
Grand City Properties S 6.332 EUR 59.515
VTB Bank OJSC Via VTB C 6.950 10/17/2022 USD 6.718
BUPA Finance PLC 4.000 GBP 59.500
Gazprom PJSC Via Gaz Ca 4.950 3/23/2027 USD 74.504
Bulgaria Government Int 1.375 9/23/2050 EUR 54.241
Logicor Financing Sarl 2.000 1/17/2034 EUR 64.771
Saga PLC 5.500 7/15/2026 GBP 74.825
PB International BV 7.625 12/31/2025 USD 41.100
Siemens Financieringsma 2.875 3/11/2041 USD 72.133
Gazprom PJSC Via Gaz Ca 4.950 2/6/2028 USD 74.924
EnBW Energie Baden-Wuer 2.125 8/31/2081 EUR 71.343
Housing & Care 21 3.288 11/8/2049 GBP 66.600
Russian Foreign Bond - 1.850 11/20/2032 EUR 36.688
Cardea Europe AG 7.250 12/8/2023 EUR 33.250
JAB Holdings BV 4.500 4/8/2052 USD 73.622
Moby SpA 7.750 2/15/2023 EUR 60.090
Orsted AS 1.500 2/18/3021 EUR 74.347
Quant AB 9.781 11/15/2025 EUR 67.451
Royalty Pharma PLC 3.350 9/2/2051 USD 60.717
Social Chain AG /The 5.750 4/7/2024 EUR 1.250
Croatia Government Inte 1.750 3/4/2041 EUR 69.711
State of North Rhine-We 2.150 3/21/2119 EUR 65.460
Republic of Belarus Int 5.875 2/24/2026 USD 48.225
VF Ukraine PAT via VFU 6.200 2/11/2025 USD 74.138
Czech Republic Governme 1.500 4/24/2040 CZK 64.453
Vienna Insurance Group 1.000 3/26/2036 EUR 71.698
Rickmers Holding AG 8.875 6/11/2018 EUR 2.193
SPP-Distribucia AS 1.000 6/9/2031 EUR 68.136
Cellnex Finance Co SA 3.875 7/7/2041 USD 71.379
Agps Bondco PLC 5.500 11/13/2026 EUR 32.206
Rothesay Life PLC 5.000 GBP 63.911
Electricite de France S 1.000 11/29/2033 EUR 73.404
British Telecommunicati 4.250 11/8/2049 USD 71.384
Slovenia Government Bon 1.175 2/13/2062 EUR 52.348
BNP Paribas SA 4.625 USD 75.750
Romanian Government Int 3.375 2/8/2038 EUR 72.599
Borets Finance DAC 6.000 9/17/2026 USD 48.771
Republic of Austria Gov 1.500 2/20/2047 EUR 70.828
DDM Debt AB 9.000 4/19/2026 EUR 68.902
Italy Buoni Poliennali 1.450 3/1/2036 EUR 72.428
LEG Immobilien SE 1.000 11/19/2032 EUR 70.222
Tinkoff Bank JSC Via TC 11.002 USD 55.000
Saxa Gres Spa 7.000 8/4/2027 EUR 4.193
Nexity SA 0.875 4/19/2028 EUR 38.015
Digital Intrepid Holdin 1.375 7/18/2032 EUR 73.013
Altice France Holding S 6.000 2/15/2028 USD 42.268
BNG Bank NV 0.125 4/19/2033 EUR 74.390
Just Group PLC 5.000 GBP 63.672
Phosagro OAO Via Phosag 2.600 9/16/2028 USD 64.421
UBS Group AG 3.179 2/11/2043 USD 67.680
Electricite de France S 2.000 12/9/2049 EUR 58.422
Altice France Holding S 10.500 5/15/2027 USD 51.264
State Agency of Roads o 6.250 6/24/2030 USD 27.532
BAWAG Group AG 5.125 EUR 73.522
Lendlease Europe Financ 3.500 12/2/2033 GBP 65.629
Metinvest BV 7.750 10/17/2029 USD 58.500
Severstal OAO Via Steel 3.150 9/16/2024 USD 5.485
Diebold Nixdorf Dutch H 9.000 7/15/2025 EUR 17.698
Logicor Financing Sarl 1.625 1/17/2030 EUR 73.573
Glencore Capital Financ 1.250 3/1/2033 EUR 72.361
Societe Generale SA 4.027 1/21/2043 USD 65.004
CK Hutchison Group Tele 2.625 10/17/2034 GBP 66.918
Ireland Government Bond 0.550 4/22/2041 EUR 62.964
Ireland Government Bond 0.400 5/15/2035 EUR 73.679
BMW Finance NV 0.200 1/11/2033 EUR 73.266
WM Morrison Supermarket 4.750 7/4/2029 GBP 58.822
HSE Finance Sarl 9.531 10/15/2026 EUR 57.519
OSB Group PLC 6.000 GBP 74.085
Deutsche Bank AG/New Yo 3.742 1/7/2033 USD 73.599
Samhallsbyggnadsbolaget 7.284 2/19/2024 SEK 74.566
Russian Railways Via RZ 2.200 5/23/2027 EUR 68.227
Aedifica SA 0.750 9/9/2031 EUR 72.174
Russian Foreign Bond - 2.650 5/27/2036 EUR 34.630
Aegon NV 1.425 NLG 72.011
Bank Gospodarstwa Krajo 2.250 7/21/2033 PLN 69.334
Alfa Bank AO Via Alfa B 5.950 4/15/2030 USD 1.359
Vnesheconombank Via VEB 6.800 11/22/2025 USD 6.507
Enel SpA 1.875 EUR 74.027
Siemens Financieringsma 2.875 3/11/2041 USD 71.889
Voltalia SA 1.000 1/13/2025 EUR 29.056
Fresnillo PLC 4.250 10/2/2050 USD 72.574
UBS Group AG 0.625 2/24/2033 EUR 70.859
Republic of Austria Gov 0.250 10/20/2036 EUR 67.989
Deutsche Bahn Finance G 0.625 12/8/2050 EUR 48.148
Ukraine Government Bond 12.700 10/30/2024 UAH 65.938
Saderea DAC 12.500 11/30/2026 USD 46.500
Maisons du Monde SA 0.125 12/6/2023 EUR 47.541
Marston's Issuer PLC 7.819 7/16/2035 GBP 70.635
Financiere Immobiliere 6.000 1/30/2025 EUR 9.587
Czech Gas Networks Inve 0.875 3/31/2031 EUR 73.202
Tresu Investment Holdin 8.554 1/2/2025 EUR 44.017
Agps Bondco PLC 5.000 4/27/2027 EUR 30.825
Kingdom of Belgium Gove 2.250 6/22/2057 EUR 74.797
AstraZeneca PLC 3.000 5/28/2051 USD 69.287
Southern Housing 2.375 10/8/2036 GBP 67.770
Thomas Cook Group PLC 6.250 6/15/2022 EUR 0.499
Rallye SA 4.000 2/28/2032 CHF 1.702
Realkredit Danmark A/S 1.000 10/1/2050 DKK 71.484
Credit Bank of Moscow V 3.100 1/21/2026 EUR 27.901
Republic of Belarus Int 7.625 6/29/2027 USD 48.792
Development Bank of the 6.750 5/2/2024 USD 41.325
Samhallsbyggnadsbolaget 6.380 8/27/2025 NOK 68.460
Prosus NV 1.985 7/13/2033 EUR 67.700
University of Oxford 2.544 12/8/2117 GBP 49.789
Scandinavian Airlines S 0.625 CHF 9.440
BICO Group AB 2.875 3/19/2026 SEK 69.003
Slovenia Government Bon 0.488 10/20/2050 EUR 45.636
NET4GAS sro 8.040 1/28/2028 CZK 66.000
Altice France SA/France 5.500 1/15/2028 USD 74.530
FIGEAC-AERO 1.750 10/18/2028 EUR 23.104
Altice France SA/France 5.125 7/15/2029 USD 69.404
Samhallsbyggnadsbolaget 7.038 1/14/2025 SEK 70.990
Credit Bank of Moscow V 3.875 9/21/2026 USD 34.566
Sweden Government Bond 1.375 6/23/2071 SEK 54.576
Vonovia SE 1.000 6/16/2033 EUR 67.443
Abengoa Abenewco 2 SA 1.500 10/26/2024 USD 0.009
Gazprom PJSC via Gaz Fi 2.950 4/15/2025 EUR 74.134
Mutuelle Assurance Des 2.125 6/21/2052 EUR 69.590
Slovenia Government Bon 0.688 3/3/2081 EUR 38.005
Fnac Darty SA 0.250 3/23/2027 EUR 67.160
Orpea SA 2.000 4/1/2028 EUR 27.343
Raiffeisen Bank Interna 1.375 6/17/2033 EUR 71.590
Selina Hospitality PLC 6.000 11/1/2026 USD 25.512
European Financial Stab 1.450 9/5/2040 EUR 74.970
Nykredit Realkredit AS 1.000 10/1/2053 DKK 70.598
Chancellor Masters & Sc 0.250 6/27/2068 GBP 54.874
UBS Group AG 0.875 11/3/2031 EUR 74.797
Sweden Government Bond 0.500 11/24/2045 SEK 60.632
Paragon Treasury Plc 3.625 1/21/2047 GBP 70.383
Immigon Portfolioabbau 10.138 EUR 17.145
Blackstone Property Par 1.625 4/20/2030 EUR 73.605
Pandion AG 5.500 2/5/2026 EUR 67.414
Russian Railways Via RZ 1.195 4/3/2028 CHF 56.705
BNP Paribas SA 4.500 USD 73.750
Slovakia Government Bon 0.375 4/21/2036 EUR 63.847
CPI Property Group SA 5.800 SGD 43.838
Rallye SA 3.250 2/28/2032 CHF 0.145
TenneT Holding BV 0.500 11/30/2040 EUR 63.080
alstria office REIT-AG 1.500 11/15/2027 EUR 71.382
Electricite de France S 1.875 10/13/2036 EUR 73.542
VTB Bank PJSC Via VTB E 9.500 USD 17.644
State of North Rhine-We 1.750 7/11/2068 EUR 61.177
Ukraine Government Bond 9.990 5/22/2024 UAH 68.277
RWE AG 1.000 11/26/2033 EUR 73.302
Idavang A/S 11.009 11/11/2025 EUR 73.476
SAS AB 8.295 SEK 10.471
Oscar Properties Holdin 11.070 7/5/2024 SEK 48.576
Suek Securities DAC 3.375 9/15/2026 USD 69.099
Georgia Capital JSC 8.500 8/3/2028 USD 73.965
Abengoa Abenewco 2 SA 1.500 10/26/2024 USD 1.423
Russian Foreign Bond - 1.125 11/20/2027 EUR 38.898
Russian Railways Via RZ 7.487 3/25/2031 GBP 67.753
Vodafone Group PLC 3.000 8/12/2056 GBP 55.112
Cofinimmo SA 0.875 12/2/2030 EUR 74.917
National Grid Electrici 0.872 11/26/2040 EUR 59.352
BNP Paribas SA 0.625 12/3/2032 EUR 71.376
Czech Republic Governme 1.950 7/30/2037 CZK 74.492
ALROSA Finance SA 4.650 4/9/2024 USD 10.162
Aberdeen City Council 0.100 2/28/2054 GBP 69.520
Affordable Housing Fina 2.893 8/11/2043 GBP 72.985
Veganz Group AG 7.500 2/24/2025 EUR 60.828
Audax Renovables SA 2.750 11/30/2025 EUR 74.698
PREOS Global Office Rea 7.500 12/9/2024 EUR 4.260
Mallinckrodt Internatio 10.000 6/15/2029 USD 13.550
Derwent London PLC 1.875 11/17/2031 GBP 70.131
Thames Water Utilities 1.250 1/31/2032 EUR 74.877
Altice Finco SA 4.750 1/15/2028 EUR 63.444
NET4GAS sro 3.500 7/28/2026 EUR 66.017
UNIQA Insurance Group A 2.375 12/9/2041 EUR 73.956
Akelius Residential Pro 0.750 2/22/2030 EUR 72.313
Orpea SA 2.200 12/15/2024 EUR 27.928
CPI Property Group SA 2.750 1/22/2028 GBP 69.300
Alfa Bank AO Via Alfa B 5.900 USD 7.634
Sovcombank Via SovCom C 7.600 USD 4.035
BNP Paribas SA 2.824 1/26/2041 USD 63.754
TotalEnergies Capital I 3.127 5/29/2050 USD 67.891
Credit Bank of Moscow V 8.875 USD 13.056
Free and Hanseatic City 1.095 6/13/2046 EUR 62.123
Neoen SA 2.000 6/2/2025 EUR 44.198
Chelyabinsk Pipe Plant 4.500 9/19/2024 USD 58.616
BNP Paribas SA 1.250 7/13/2031 GBP 69.561
Unigel Luxembourg SA 8.750 10/1/2026 USD 38.678
Manchester Airport Grou 2.875 9/30/2044 GBP 62.554
Gazprom PJSC via Gaz Fi 1.850 11/17/2028 EUR 60.133
Royalty Pharma PLC 3.550 9/2/2050 USD 63.879
Thermo Fisher Scientifi 2.000 10/18/2051 EUR 63.002
Intu Debenture PLC 5.562 12/31/2027 GBP 40.083
Agri Resources Group SA 8.000 3/17/2026 EUR 9.645
Bank Millennium SA 8.940 1/30/2029 PLN 73.299
Bank Gospodarstwa Krajo 2.375 11/27/2040 PLN 61.712
Lukoil Securities BV 3.875 5/6/2030 USD 74.222
Lloyds Banking Group PL 4.344 1/9/2048 USD 73.155
Banque Federative du Cr 1.125 11/19/2031 EUR 73.782
Lukoil Capital DAC 3.600 10/26/2031 USD 72.284
Wuestenrot & Wuerttembe 2.125 9/10/2041 EUR 71.163
Syngenta Finance NV 4.375 3/28/2042 USD 70.637
DXC Capital Funding DAC 0.950 9/15/2031 EUR 71.503
Muenchener Rueckversich 1.000 5/26/2042 EUR 72.493
Metalloinvest Finance D 3.375 10/22/2028 USD 54.088
Nykredit Realkredit AS 1.500 10/1/2053 DKK 74.761
Sberbank of Russia Via 5.250 5/23/2023 USD 32.618
nextbike GmbH 6.000 3/31/2025 EUR 65.000
Berlin Hyp AG 0.375 4/21/2031 EUR 74.216
Slovenia Government Bon 1.750 11/3/2040 EUR 73.741
Russian Agricultural Ba 8.500 10/16/2023 USD 26.135
Ilija Batljan Invest AB 10.475 SEK 4.643
Smurfit Kappa Treasury 1.000 9/22/2033 EUR 73.249
ABN AMRO Bank NV 1.125 4/23/2039 EUR 71.667
Chesnara PLC 4.750 8/4/2032 GBP 72.797
John Lewis PLC 4.250 12/18/2034 GBP 61.537
Altarea SCA 1.750 1/16/2030 EUR 70.949
Societe Du Grand Paris 0.700 10/15/2060 EUR 37.038
Credit Bank of Moscow V 4.700 1/29/2025 USD 26.156
Slovakia Government Bon 1.000 10/13/2051 EUR 49.898
Vnesheconombank Via VEB 5.942 11/21/2023 USD 9.666
GTLK Europe Capital DAC 5.950 4/17/2025 USD 29.218
TenneT Holding BV 0.125 11/30/2032 EUR 74.826
Optivo Finance PLC 2.857 10/7/2035 GBP 73.820
Pershing Square Holding 3.250 10/1/2031 USD 73.118
Places For People Treas 2.500 1/26/2036 GBP 68.279
Kreditanstalt fuer Wied 0.875 7/4/2039 EUR 70.170
Ukreximbank Via Biz Fin 9.950 11/14/2029 USD 68.125
Prosus NV 2.031 8/3/2032 EUR 70.653
publity AG 5.500 6/19/2025 EUR 57.470
JAB Holdings BV 2.250 12/19/2039 EUR 69.782
Vonovia SE 1.500 6/14/2041 EUR 54.601
Schlote Holding GmbH 6.750 11/21/2024 EUR 27.649
UK Municipal Bonds Agen 1.625 8/26/2060 GBP 39.540
Adecco International Fi 0.500 9/21/2031 EUR 74.838
Metinvest BV 7.650 10/1/2027 USD 61.609
Vonovia SE 0.625 3/24/2031 EUR 71.787
EnBW International Fina 0.500 3/1/2033 EUR 72.150
Deutsche Telekom AG 3.625 1/21/2050 USD 70.908
Balder Finland Oyj 1.375 5/24/2030 EUR 62.813
K2A Knaust & Andersson 9.860 SEK 65.000
BAT International Finan 2.000 3/13/2045 EUR 57.151
Nykredit Realkredit AS 1.000 10/1/2053 DKK 65.782
Vonovia Finance BV 1.625 10/7/2039 EUR 59.568
Medtronic Global Holdin 1.375 10/15/2040 EUR 65.979
Nats En Route PLC 1.750 9/30/2033 GBP 70.686
Bigben Interactive 1.125 2/19/2026 EUR 64.610
Fresenius Finance Irela 0.875 10/1/2031 EUR 74.794
Soc Nationale SNCF SACA 1.000 1/19/2061 EUR 39.857
FF Group Finance Luxemb 3.250 11/2/2021 CHF 4.137
Credit Bank of Moscow V 5.150 2/20/2024 EUR 30.727
Vedanta Resources Finan 8.950 3/11/2025 USD 67.080
Pozavarovalnica Sava dd 3.750 11/7/2039 EUR 67.271
Wellcome Trust Ltd/The 1.500 7/14/2071 GBP 37.626
Hacienda Investments Lt 5.350 2/8/2028 USD 58.116
Slovakia Government Bon 2.000 10/17/2047 EUR 68.649
Hellenic Republic Gover 2.085 7/25/2057 EUR 30.248
AstraZeneca PLC 2.125 8/6/2050 USD 58.110
Aroundtown SA 3.000 10/16/2029 GBP 64.736
Jyske Realkredit A/S 1.000 10/1/2050 DKK 71.524
Herens Holdco Sarl 4.750 5/15/2028 USD 74.916
Republic of Belarus Int 6.200 2/28/2030 USD 37.978
UNEDIC ASSEO 0.500 5/25/2036 EUR 69.515
Shell International Fin 1.750 9/10/2052 GBP 45.094
Ageas SA/NV 1.875 11/24/2051 EUR 73.335
Karlou BV 7.750 6/18/2024 USD 11.400
JT International Financ 2.750 9/28/2033 GBP 74.247
SABIC Capital I BV 3.000 9/14/2050 USD 68.851
Groupe des Assurances d 1.850 4/21/2042 EUR 73.786
Mime Petroleum AS 13.500 3/21/2083 USD 20.000
SCF Capital Designated 3.850 4/26/2028 USD 65.808
Verbund AG 0.900 4/1/2041 EUR 66.373
Merlin Properties Socim 1.875 12/4/2034 EUR 70.403
Nordea Kredit Realkredi 1.000 10/1/2050 DKK 71.678
Ekosem-Agrar AG 2.500 12/7/2027 EUR 15.358
Turkey Government Bond 9.100 2/16/2028 TRY #N/A N/A
Shell International Fin 2.875 11/26/2041 USD 70.181
HSBC Holdings PLC 4.000 9/8/2036 USD 73.677
Plusplus Capital Financ 11.000 7/29/2026 EUR 73.477
Ekosem-Agrar AG 2.500 7/31/2029 EUR 18.195
Lar Espana Real Estate 1.843 11/3/2028 EUR 73.751
Barclays PLC 3.330 11/24/2042 USD 67.240
Nestle Finance Internat 0.875 6/14/2041 EUR 65.539
BP Capital Markets BV 1.467 9/21/2041 EUR 63.498
Orange SA 0.625 12/16/2033 EUR 73.683
Electricite de France S 4.750 10/6/2045 USD 74.237
Slovakia Government Bon 2.250 6/12/2068 EUR 65.212
Societe Generale SA 3.625 3/1/2041 USD 62.544
Thermo Fisher Scientifi 1.625 10/18/2041 EUR 67.521
Parnassia Groep BV 1.200 12/1/2051 EUR 69.121
BNP Paribas SA 2.000 9/13/2036 GBP 62.995
Anheuser-Busch InBev SA 2.850 5/25/2037 GBP 74.846
Segro Capital Sarl 0.500 9/22/2031 EUR 73.359
Hexagon Housing Associa 3.625 4/22/2048 GBP 66.667
Basque Government 1.375 10/31/2070 EUR 41.006
LEG Immobilien SE 0.875 3/30/2033 EUR 67.568
Nykredit Realkredit AS 1.500 10/1/2053 DKK 70.348
Home Credit & Finance B 8.800 USD 5.364
Holcim Finance Luxembou 0.625 1/19/2033 EUR 71.630
BNP Paribas SA 2.824 1/26/2041 USD 63.974
Kenbourne Invest SA 4.700 1/22/2028 USD 59.996
Finland Government Bond 0.125 4/15/2036 EUR 67.566
Travelex Financing PLC 8.000 5/15/2022 EUR 0.303
VTB Bank OJSC Via VTB C 4.073 10/24/2024 CHF 16.000
Credit Bank of Moscow V 7.625 USD 26.434
Direct Line Insurance G 4.000 6/5/2032 GBP 71.929
Fastator AB 10.318 12/23/2025 SEK 70.906
UBS Group AG 4.375 USD 73.740
Trinseo Materials Opera 5.125 4/1/2029 USD 53.516
Sirius Real Estate Ltd 1.750 11/24/2028 EUR 74.858
CM.com NV 2.000 9/9/2026 EUR 64.474
Deutsche Telekom AG 1.750 12/9/2049 EUR 69.203
esure Group PLC 6.000 GBP 69.177
Senvion Holding GmbH 3.875 10/25/2022 EUR 0.145
Prosus NV 3.832 2/8/2051 USD 56.242
Air Berlin PLC 6.750 5/9/2019 EUR 0.363
ALROSA Finance SA 3.100 6/25/2027 USD 6.629
British Telecommunicati 4.250 11/8/2049 USD 70.570
Digital Intrepid Holdin 0.625 7/15/2031 EUR 71.533
Finland Government Bond 0.250 9/15/2040 EUR 60.350
Heineken NV 1.750 5/7/2040 EUR 72.958
Bayer AG 1.000 1/12/2036 EUR 68.508
Portugal Obrigacoes do 0.900 10/12/2035 EUR 74.044
Samhallsbyggnadsbolaget 4.500 3/10/2025 EUR 70.338
Pershing Square Holding 4.950 7/15/2039 USD 72.089
Enel Finance Internatio 1.125 10/17/2034 EUR 71.609
GTLK Europe Capital DAC 4.800 2/26/2028 USD 22.382
Barclays PLC 3.811 3/10/2042 USD 68.746
Imperial Brands Finance 1.750 3/18/2033 EUR 73.052
Cyprus Government Inter 2.250 4/16/2050 EUR 66.536
Cie de Financement Fonc 0.600 10/25/2041 EUR 60.980
SNCF Reseau 0.750 5/25/2036 EUR 70.588
Morhomes PLC 3.400 2/19/2038 GBP 74.717
United Utilities Water 1.875 6/3/2042 GBP 54.635
OMV AG 1.000 7/3/2034 EUR 74.315
Muenchener Hypothekenba 0.010 11/2/2040 EUR 55.770
Assura Financing PLC 1.625 6/30/2033 GBP 66.295
Wales & West Utilities 3.000 8/3/2038 GBP 71.038
Jyske Realkredit A/S 1.500 10/1/2053 DKK 74.881
UniCredit Bank AG 0.010 1/21/2036 EUR 65.937
Kreditanstalt fuer Wied 0.050 9/29/2034 EUR 71.095
Utmost Group PLC 4.000 12/15/2031 GBP 72.296
Enel Finance Internatio 0.875 6/17/2036 EUR 65.733
Hungary Government Bond 2.250 6/22/2034 HUF 64.013
Proximus SADP 0.750 11/17/2036 EUR 66.072
Agence Francaise de Dev 0.375 5/25/2036 EUR 66.802
Bromford Housing Group 3.125 5/3/2048 GBP 67.040
Repsol Europe Finance S 0.875 7/6/2033 EUR 74.711
Vnesheconombank Via VEB 6.025 7/5/2022 USD 7.295
Hacienda Investments Lt 5.075 2/15/2023 USD 25.175
Latvia Government Inter 1.375 5/16/2036 EUR 73.092
Aroundtown SA 3.625 4/10/2031 GBP 62.704
Banque Federative du Cr 3.103 EUR 74.833
EYEMAXX Real Estate AG 5.500 4/26/2023 EUR 1.726
UBS Group AG 3.179 2/11/2043 USD 67.627
Latvia Government Inter 1.875 2/19/2049 EUR 67.598
Landwirtschaftliche Ren 0.010 11/26/2040 EUR 56.571
State of North Rhine-We 1.950 9/26/2078 EUR 63.665
GTLK Europe Capital DAC 4.650 3/10/2027 USD 22.689
State of North Rhine-We 1.000 10/16/2046 EUR 61.482
Thames Water Utilities 2.375 4/22/2040 GBP 56.813
Russian Foreign Bond - 5.875 9/16/2043 USD 66.416
Abengoa Abenewco 2 Bis 1.500 4/26/2024 EUR 0.498
Credit Bank of Moscow V 7.500 10/5/2027 USD 21.609
TotalEnergies Capital I 3.386 6/29/2060 USD 67.822
Channel Link Enterprise 3.848 6/30/2050 GBP 65.169
BASF SE 1.625 11/15/2037 EUR 73.180
Societe Generale SA 4.027 1/21/2043 USD 65.097
Anglo American Capital 3.950 9/10/2050 USD 71.065
LSEGA Financing PLC 3.200 4/6/2041 USD 71.956
Southern Gas Networks P 1.250 12/2/2031 GBP 69.864
GlaxoSmithKline Capital 1.625 5/12/2035 GBP 67.371
Nederlandse Waterschaps 0.375 9/28/2046 EUR 51.679
LEG Immobilien SE 1.500 1/17/2034 EUR 70.683
Cie Generale des Etabli 0.625 11/2/2040 EUR 64.233
DH Europe Finance II Sa 1.350 9/18/2039 EUR 68.553
Sydbank AS 3.259 EUR 72.726
Metropolitan Housing Tr 1.875 7/28/2036 GBP 64.024
Land Securities Capital 2.750 9/22/2059 GBP 55.139
NET4GAS sro 2.745 1/28/2031 CZK 46.939
Kommunekredit 0.375 2/3/2045 DKK 53.171
Cooperatieve Rabobank U 0.750 6/21/2039 EUR 66.757
Samhallsbyggnadsbolaget 4.940 12/18/2025 SEK 64.459
Tritax Big Box REIT PLC 1.500 11/27/2033 GBP 64.272
Barclays Bank PLC 12.000 9/24/2025 TRY 69.380
Latvia Government Inter 2.250 2/15/2047 EUR 73.546
Eurogrid GmbH 0.741 4/21/2033 EUR 74.804
Sovcombank Via SovCom C 3.400 1/26/2025 USD 2.610
Finland Government Bond 0.500 4/15/2043 EUR 59.818
Pension Insurance Corp 3.625 10/21/2032 GBP 73.322
Richemont International 1.625 5/26/2040 EUR 73.012
Lloyds Banking Group PL 3.369 12/14/2046 USD 64.199
Vedanta Resources Ltd 6.125 8/9/2024 USD 65.387
Braskem Netherlands Fin 5.875 1/31/2050 USD 74.456
Eni SpA 1.000 10/11/2034 EUR 72.448
UNEDIC ASSEO 0.250 7/16/2035 EUR 69.654
Region of Pays de la Lo 1.704 10/23/2040 EUR 70.937
Cadent Finance PLC 2.625 9/22/2038 GBP 64.370
Simon International Fin 1.125 3/19/2033 EUR 71.382
European Financial Stab 0.700 1/17/2053 EUR 49.829
Blend Funding PLC 3.459 9/21/2047 GBP 71.426
BNG Bank NV 0.125 7/9/2035 EUR 68.983
Enexis Holding NV 0.375 4/14/2033 EUR 74.509
Wellcome Trust Ltd/The 2.517 2/7/2118 GBP 49.869
ABN AMRO Bank NV 1.250 1/20/2034 EUR 74.848
Finland Government Bond 1.375 4/15/2047 EUR 69.837
Siemens Financieringsma 0.500 9/5/2034 EUR 72.493
MMK International Capit 4.375 6/13/2024 USD 27.930
Cadent Finance PLC 2.750 9/22/2046 GBP 57.682
Landesbank Hessen-Thuer 0.500 1/19/2037 EUR 69.196
Market Parent Finco PLC 6.750 10/1/2029 GBP 63.270
Shell International Fin 0.875 11/8/2039 EUR 62.379
Mitsubishi UFJ Investor 7.913 12/30/2099 EUR 2.922
Bulgaria Government Bon 1.500 6/21/2039 BGN 54.406
Soc Nationale SNCF SACA 0.875 2/28/2051 EUR 46.580
Evraz PLC 5.375 3/20/2023 USD 71.057
Altice France SA/France 5.500 10/15/2029 USD 70.652
GTLK Europe Capital DAC 4.949 2/18/2026 USD 19.180
Gol Finance SA 8.000 6/30/2026 USD 54.957
SRV Group Oyj 4.875 EUR 40.000
Standard Chartered PLC 4.300 USD 74.855
Russian Federal Bond - 6.100 7/18/2035 RUB 67.841
Nederlandse Gasunie NV 0.750 10/13/2036 EUR 67.800
BUPA Finance PLC 4.125 6/14/2035 GBP 74.308
Medtronic Global Holdin 1.750 7/2/2049 EUR 61.828
Nykredit Realkredit AS 2.000 10/1/2053 DKK 72.509
Storebrand Livsforsikri 1.875 9/30/2051 EUR 72.964
Grand City Properties S 2.000 10/25/2032 EUR 61.346
Lithuania Government In 0.750 7/15/2051 EUR 47.367
NIBC Bank NV 3.089 EUR 69.641
Petrobras Global Financ 4.750 4/2/2038 EUR 50.826
Altice France Holding S 8.000 5/15/2027 EUR 47.083
Luzerner Kantonalbank A 0.160 12/23/2043 CHF 70.595
Medtronic Global Holdin 1.625 10/15/2050 EUR 58.724
Sovcombank Via SovCom C 7.750 USD 1.358
National Grid PLC 0.750 9/1/2033 EUR 70.683
Air Berlin PLC 8.250 4/19/2018 EUR 0.446
Deutsche Telekom AG 3.625 1/21/2050 USD 70.681
East Slope Residencies 0.100 2/28/2062 GBP 59.547
Offentliga Hus I Norden 10.662 SEK 48.027
Clarion Funding PLC 1.875 9/7/2051 GBP 45.908
Ukraine Government Inte 6.876 5/21/2031 USD 27.323
Landesbank Baden-Wuertt 0.375 2/21/2031 EUR 74.735
JAB Holdings BV 3.750 5/28/2051 USD 64.032
Mondelez International 1.250 9/9/2041 EUR 64.036
Credit Agricole SA 2.811 1/11/2041 USD 63.894
Amprion GmbH 0.625 9/23/2033 EUR 72.382
Novo Banco SA/Luxembour 3.500 1/23/2043 EUR 73.278
GTLK Europe DAC 5.125 5/31/2024 USD 36.146
Enel Finance Internatio 0.875 9/28/2034 EUR 70.325
BP Capital Markets BV 0.933 12/4/2040 EUR 59.024
SKF AB 0.250 2/15/2031 EUR 74.835
Shell International Fin 1.000 12/10/2030 GBP 73.768
PIK Securities DAC 5.625 11/19/2026 USD 44.320
Intesa Sanpaolo SpA 4.700 9/23/2049 USD 69.241
Home Group Ltd 3.125 3/27/2043 GBP 66.539
Solocal Group 10.526 3/15/2025 EUR 31.572
Vodafone Group PLC 3.375 8/8/2049 GBP 63.261
ABN AMRO Bank NV 0.625 1/24/2037 EUR 69.960
TMK OAO Via TMK Capital 4.300 2/12/2027 USD 65.144
Alfa Bank AO Via Alfa B 6.950 USD 5.641
Island Offshore Shiphol 9.630 6/30/2024 NOK 45.352
TotalEnergies Capital I 1.618 5/18/2040 EUR 71.598
Ukraine Government Bond 15.500 10/2/2024 UAH 68.839
Magnolia Bostad AB 11.784 5/19/2026 SEK 70.033
Libra Longhurst Group T 3.250 5/15/2043 GBP 68.411
Aroundtown SA 2.912 9/20/2030 EUR 63.931
Motability Operations G 1.500 1/20/2041 GBP 56.340
Free State of Bavaria 0.010 1/18/2035 EUR 69.626
Orange SA 0.750 6/29/2034 EUR 73.339
Free State of Saxony 0.010 12/17/2035 EUR 67.026
Aegon Bank NV 0.375 6/9/2036 EUR 68.272
Rallye SA 3.400 2/28/2032 EUR 0.131
Ukraine Government Inte 15.840 2/26/2025 UAH 71.966
GTLK Europe Capital DAC 4.349 2/27/2029 USD 20.824
Platform HG Financing P 1.625 8/10/2055 GBP 43.250
NRW Bank 1.250 3/21/2044 EUR 68.893
Lithuania Government Bo 0.300 2/12/2032 EUR 71.770
South Eastern Power Net 1.750 9/30/2034 GBP 67.731
Russian Federal Bond - 5.900 3/12/2031 RUB 74.826
Vonovia Finance BV 1.125 9/14/2034 EUR 64.570
JSM Global Sarl 4.750 10/20/2030 USD 17.250
BNG Bank NV 0.805 6/28/2049 EUR 53.627
Ukraine Government Bond 19.750 7/22/2026 UAH 72.201
National Grid Electrici 2.000 4/17/2040 GBP 58.645
Sibur Securities DAC 2.950 7/8/2025 USD 65.418
Novolipetsk Steel Via S 1.450 6/2/2026 EUR 69.463
EYEMAXX Real Estate AG 5.500 7/22/2025 EUR 18.958
Dexia Credit Local SA 5.528 EUR 2.351
Russian Foreign Bond - 4.250 6/23/2027 USD 52.120
United Utilities Water 0.875 10/28/2029 GBP 74.219
VTR Finance NV 6.375 7/15/2028 USD 43.156
Allied Irish Banks PLC 12.500 6/25/2035 GBP 58.058
Tele Columbus AG 3.875 5/2/2025 EUR 65.000
Nordea Kredit Realkredi 1.000 10/1/2053 DKK 65.873
EWE AG 0.375 10/22/2032 EUR 72.385
Nykredit Realkredit AS 0.500 10/1/2053 DKK 65.349
BNG Bank NV 0.250 11/22/2036 EUR 66.507
Nationwide Building Soc 0.500 5/5/2041 EUR 60.299
State of North Rhine-We 1.750 10/26/2057 EUR 66.366
R-Logitech Finance SA 10.250 9/26/2027 EUR 30.253
Zurich Finance Ireland 1.625 6/17/2039 EUR 72.689
Diageo Finance PLC 2.750 6/8/2038 GBP 72.365
Cellnex Finance Co SA 3.875 7/7/2041 USD 69.629
WPP Finance 2013 2.875 9/14/2046 GBP 57.050
Nationale-Nederlanden B 0.050 11/12/2040 EUR 55.890
Orange SA 1.375 9/4/2049 EUR 64.027
Talanx AG 1.750 12/1/2042 EUR 74.800
HOWOGE Wohnungsbaugesel 1.125 11/1/2033 EUR 71.978
Becton Dickinson Euro F 1.336 8/13/2041 EUR 62.071
Ghelamco Invest 4.250 1/21/2027 EUR 71.957
Magnolia Bostad AB 10.670 3/18/2025 SEK 74.244
Societe Generale SA 3.625 3/1/2041 USD 63.054
Prosus NV 4.987 1/19/2052 USD 66.483
Privatbank CJSC Via UK 10.250 1/23/2018 USD 3.392
Ukraine Government Inte 7.750 8/1/2041 USD 46.586
Scottish Hydro Electric 2.125 3/24/2036 GBP 67.165
Russian Foreign Bond - 4.375 3/21/2029 USD 48.313
Deutsche Bahn Finance G 0.625 4/15/2036 EUR 69.385
Russian Federal Bond - 7.000 7/30/2036 RUB 72.515
Unibail-Rodamco-Westfie 0.875 3/29/2032 EUR 72.433
Investor AB 0.375 10/29/2035 EUR 66.396
Snam SpA 1.000 9/12/2034 EUR 71.855
Clarion Funding PLC 3.125 4/19/2048 GBP 64.327
Samhallsbyggnadsbolaget 3.000 4/3/2040 EUR 46.464
Severn Trent Utilities 2.000 6/2/2040 GBP 57.729
Nordea Kredit Realkredi 1.000 10/1/2050 DKK 67.256
Land Thueringen 0.125 1/13/2051 EUR 41.666
Realkredit Danmark A/S 1.000 10/1/2053 DKK 65.783
Andorra International B 1.700 10/13/2041 EUR 64.019
La Poste SA 0.625 1/18/2036 EUR 67.502
Novo Banco SA/Luxembour 3.500 2/19/2043 EUR 73.383
Sovcombank Via SovCom C 8.000 4/7/2030 USD 6.581
Operateur de Reseaux d' 2.850 2/3/2045 EUR 73.860
CNP Assurances SACA 1.875 10/12/2053 EUR 71.587
3i Group PLC 3.750 6/5/2040 GBP 71.037
Air Berlin PLC 5.625 5/9/2019 CHF 0.408
Nostrum Oil & Gas Finan 7.000 2/16/2025 USD 25.375
Ukraine Government Inte 7.253 3/15/2035 USD 27.625
Region Wallonne Belgium 1.050 6/22/2040 EUR 64.909
Genfit SA 3.500 10/16/2025 EUR 25.209
BAWAG PSK Bank fuer Arb 0.010 11/19/2035 EUR 64.593
Realkredit Danmark A/S 1.000 10/1/2050 DKK 67.095
Intesa Sanpaolo SpA 2.625 3/11/2036 GBP 64.776
Royal Schiphol Group NV 0.750 4/22/2033 EUR 74.856
NPC Ukrenergo 6.875 11/9/2028 USD 28.053
Terragon AG 6.500 5/24/2024 EUR 1.239
Deutsche Bahn Finance G 1.125 5/29/2051 EUR 56.170
Vonovia Finance BV 1.000 1/28/2041 EUR 50.832
SES SA 5.300 4/4/2043 USD 68.678
State of North Rhine-We 1.450 2/16/2043 EUR 71.395
Republic of Belarus Int 6.875 2/28/2023 USD 38.194
Prologis International 0.750 3/23/2033 EUR 68.688
Landwirtschaftliche Ren 0.625 10/31/2036 EUR 71.788
TotalEnergies Capital I 2.986 6/29/2041 USD 71.793
OGX Austria GmbH 8.500 6/1/2018 USD 0.019
Gecina SA 0.875 6/30/2036 EUR 66.462
Petrobras Global Financ 4.500 2/4/2033 EUR 64.894
Nationale-Nederlanden B 0.050 9/24/2035 EUR 66.455
RL Finance Bonds NO 4 P 4.875 10/7/2049 GBP 73.363
British Telecommunicati 3.625 11/21/2047 GBP 67.913
Lehman Brothers UK Capi 5.750 EUR 7.000
Herens Midco Sarl 5.250 5/15/2029 EUR 53.250
Republic of Croatia FX 1.000 11/27/2034 EUR 72.446
Canary Wharf Group Inve 3.375 4/23/2028 GBP 63.125
Argenta Spaarbank NV 0.500 10/8/2041 EUR 59.234
Allianz Finance II BV 0.500 11/22/2033 EUR 73.764
Realkredit Danmark A/S 1.000 10/1/2053 DKK 59.624
BNG Bank NV 1.980 4/19/2040 SEK 73.740
Espirito Santo Financia 6.875 10/21/2019 EUR 0.104
Enel Finance Internatio 1.250 1/17/2035 EUR 73.017
DSV Finance BV 0.875 9/17/2036 EUR 68.084
Motability Operations G 2.125 1/18/2042 GBP 61.201
Coventry Building Socie 2.000 12/20/2030 GBP 74.294
BPCE SA 2.285 12/3/2035 AUD 60.167
Ramfort GmbH 6.750 3/15/2026 EUR 62.834
Bilt Paper BV 10.360 USD 1.313
Engie SA 1.000 10/26/2036 EUR 68.488
Altice France SA/France 5.125 1/15/2029 USD 69.808
Nykredit Realkredit AS 1.500 10/1/2053 DKK 65.041
Saltaire Finance PLC 1.527 11/23/2051 GBP 47.242
Societe Du Grand Paris 1.625 4/8/2042 EUR 70.456
European Financial Stab 0.700 1/20/2050 EUR 53.093
Kommunekredit 0.010 5/4/2034 EUR 70.557
A2A SpA 1.000 11/2/2033 EUR 71.583
Nordea Kredit Realkredi 1.000 10/1/2053 DKK 70.916
Global Ports Finance PL 6.500 9/22/2023 USD 44.602
Linde PLC 1.000 9/30/2051 EUR 52.570
Ukraine Government Bond 19.500 1/15/2025 UAH 70.781
Lehman Brothers UK Capi 6.900 USD 3.986
Ukraine Government Inte 7.750 9/1/2026 USD 29.587
Hannover Rueck SE 1.375 6/30/2042 EUR 73.644
Credit Mutuel Arkea SA 0.875 3/11/2033 EUR 73.586
Annington Funding PLC 2.308 10/6/2032 GBP 70.808
Nordea Kredit Realkredi 1.500 10/1/2053 DKK 74.915
Equinor ASA 3.250 11/18/2049 USD 69.831
Eurovita SpA 6.000 12/22/2025 EUR 54.639
Altice Financing SA 5.750 8/15/2029 USD 74.519
Eversholt Funding PLC 3.529 8/7/2042 GBP 71.133
Debenhams PLC 5.250 7/15/2021 GBP 0.529
UkrLandFarming PLC 10.875 3/26/2018 USD 2.430
Altice France Holding S 4.000 2/15/2028 EUR 38.708
Nostrum Oil & Gas Finan 8.000 7/25/2022 USD 25.546
Rallye SA 5.250 2/28/2032 EUR 0.096
Cooperatieve Rabobank U 0.010 11/27/2040 EUR 55.160
TenneT Holding BV 1.500 6/3/2039 EUR 73.386
Novo Banco SA/Luxembour 3.500 1/2/2043 EUR 73.384
BP Capital Markets PLC 1.104 11/15/2034 EUR 72.143
Chancellor Masters & Sc 2.350 6/27/2078 GBP 55.202
Cadent Finance PLC 2.250 10/10/2035 GBP 66.943
CCEP Finance Ireland DA 1.500 5/6/2041 EUR 68.246
National Grid Electrici 1.750 9/9/2031 GBP 73.877
European Financial Stab 2.000 2/28/2056 EUR 71.993
Clariane SE 3.350 6/29/2028 EUR 70.279
Traton Finance Luxembou 1.250 3/24/2033 EUR 74.232
National Gas Transmissi 1.125 1/14/2033 GBP 64.397
Southern Gas Networks P 3.100 9/15/2036 GBP 71.832
Societe Du Grand Paris 1.000 2/18/2070 EUR 38.352
Catalyst Housing Ltd 3.125 10/31/2047 GBP 64.507
Unilever PLC 1.500 6/11/2039 EUR 73.320
DZ Bank AG Deutsche Zen 4.884 7/30/2029 EUR 61.874
Nykredit Realkredit AS 1.000 10/1/2056 DKK 60.700
Jyske Realkredit A/S 1.000 10/1/2050 DKK 67.123
European Financial Stab 1.375 5/31/2047 EUR 67.300
NRW Bank 0.500 6/17/2041 EUR 61.672
Ukraine Government Bond 19.700 8/6/2025 UAH 74.772
Ukraine Government Bond 12.520 5/13/2026 UAH 58.821
Ukraine Government Inte 7.750 9/1/2028 USD 29.627
LEG Immobilien SE 1.625 11/28/2034 EUR 68.802
Gazprom PJSC via Gaz Fi 4.599 USD 62.000
Severn Trent Utilities 0.010 12/16/2055 GBP 41.156
AI Candelaria Spain SA 5.750 6/15/2033 USD 72.271
TotalEnergies Capital I 3.461 7/12/2049 USD 73.167
Tinkoff Bank JSC Via TC 6.000 USD 48.864
Transcapitalbank JSC Vi 10.000 USD 15.998
Sanctuary Capital PLC 2.375 4/14/2050 GBP 55.655
ICADE 0.625 1/18/2031 EUR 73.262
Unibail-Rodamco-Westfie 2.250 5/14/2038 EUR 73.978
Hellas Telecommunicatio 6.054 1/15/2015 USD 0.012
Anchor Hanover Group 2.000 7/21/2051 GBP 50.643
Close Brothers Finance 1.625 12/3/2030 GBP 69.333
Credit Bank of Moscow V 7.121 6/25/2024 USD 23.882
Region de Bruxelles-Cap 1.121 5/11/2071 EUR 41.266
Linde PLC 0.375 9/30/2033 EUR 72.270
Nederlandse Waterschaps 0.500 4/26/2051 EUR 47.728
Annington Funding PLC 3.935 7/12/2047 GBP 69.308
Deutsche Bahn Finance G 0.750 7/16/2035 EUR 72.344
Realkredit Danmark A/S 1.500 10/1/2053 DKK 70.347
City of Lausanne Switze 0.540 11/6/2062 CHF 64.646
RTE Reseau de Transport 1.125 9/9/2049 EUR 58.153
Air Liquide Finance SA 0.375 9/20/2033 EUR 72.906
Vonovia Finance BV 2.750 3/22/2038 EUR 72.423
Wendel SE 1.375 1/18/2034 EUR 72.681
Thames Water Utilities 2.625 1/24/2032 GBP 74.703
European Financial Stab 0.050 1/18/2052 EUR 39.336
State of North Rhine-We 0.600 6/4/2041 EUR 62.116
Thomas Cook Finance 2 P 3.875 7/15/2023 EUR 0.659
Jigsaw Funding PLC 3.375 5/5/2052 GBP 69.924
Utmost Group PLC 6.125 GBP 72.708
Clarion Funding PLC 1.875 1/22/2035 GBP 67.043
Cooperatieve Rabobank U 0.625 2/25/2033 EUR 74.285
Yorkshire Water Finance 1.750 10/27/2032 GBP 69.461
Nykredit Realkredit AS 1.500 10/1/2050 DKK 72.773
TotalEnergies Capital I 1.405 9/3/2031 GBP 74.148
University of Leeds 3.125 12/19/2050 GBP 69.657
Soc Nationale SNCF SACA 1.000 5/25/2040 EUR 64.078
Havila Shipping ASA 8.870 1/2/2025 NOK 42.802
Accent Capital PLC 2.625 7/18/2049 GBP 60.340
London & Quadrant Housi 2.000 3/31/2032 GBP 74.135
European Financial Stab 1.750 7/17/2053 EUR 68.352
Medtronic Global Holdin 1.500 7/2/2039 EUR 69.067
Nestle Finance Internat 0.375 12/3/2040 EUR 60.480
European Financial Stab 1.800 7/10/2048 EUR 72.382
Vnesheconombank Via VEB 6.800 11/22/2025 USD 6.507
SES SA 5.300 4/4/2043 USD 68.678
Kommunekredit 0.500 6/19/2039 DKK 63.065
Standard Chartered PLC 4.750 USD 74.130
Abengoa Abenewco 2 SA 1.500 10/26/2024 USD 1.423
Diageo Finance PLC 1.250 3/28/2033 GBP 70.375
STERIS Irish FinCo UnLt 3.750 3/15/2051 USD 71.667
Credit Agricole SA 2.811 1/11/2041 USD 64.404
Eastern Power Networks 2.125 11/25/2033 GBP 72.098
Gecci Investment KG 5.750 8/1/2025 EUR 7.436
Ukraine Government Inte 6.750 6/20/2028 EUR 26.897
Agence Francaise de Dev 1.125 3/2/2037 EUR 72.957
UNEDIC ASSEO 0.100 5/25/2034 EUR 71.182
Becton Dickinson Euro F 1.213 2/12/2036 EUR 70.753
United Utilities Water 0.010 7/27/2040 GBP 62.763
Bourbon Corp 11.652 EUR 0.936
Avanti Communications G 9.000 10/1/2022 USD 14.250
Alfa Bank AO Via Alfa B 5.500 10/26/2031 USD 0.617
Bulgaria Government Bon 0.100 8/17/2031 BGN 70.781
Unibail-Rodamco-Westfie 1.375 5/25/2033 EUR 74.280
Flagship Finance PLC 1.875 7/14/2061 GBP 46.012
Optivo Finance PLC 3.283 3/22/2048 GBP 65.756
Kreditanstalt fuer Wied 0.375 5/20/2036 EUR 70.325
TenneT Holding BV 1.125 6/9/2041 EUR 69.434
Russian Foreign Bond - 5.100 3/28/2035 USD 35.466
Bank Gospodarstwa Krajo 2.000 11/3/2036 EUR 70.960
Annington Funding PLC 2.924 10/6/2051 GBP 54.040
Realkredit Danmark A/S 1.500 10/1/2053 DKK 74.846
Kairos Global Solutions 1.900 7/3/2035 USD 74.107
Engie SA 1.250 10/24/2041 EUR 62.214
Saleza AS 9.000 7/12/2021 EUR 0.203
Realkredit Danmark A/S 1.000 10/1/2053 DKK 70.651
Logicor Financing Sarl 2.750 1/15/2030 GBP 74.567
Clarion Funding PLC 1.250 11/13/2032 GBP 68.148
City of Lausanne Switze 0.050 9/28/2054 CHF 58.514
Region de Bruxelles-Cap 1.500 6/22/2070 EUR 48.849
National Grid Electrici 2.750 2/6/2035 GBP 73.221
Cyprus Government Inter 1.250 1/21/2040 EUR 64.972
B2W Digital Lux Sarl 4.375 12/20/2030 USD 17.250
Hera SpA 1.000 4/25/2034 EUR 72.057
Diebold Nixdorf Dutch H 9.000 7/15/2025 EUR 7.618
University of Southampt 2.250 4/11/2057 GBP 52.993
EYEMAXX Real Estate AG 5.500 9/24/2024 EUR 1.656
NRW Bank 1.200 3/28/2039 EUR 73.096
Sage Group PLC/The 1.625 2/25/2031 GBP 74.608
University College Lond 1.625 6/4/2061 GBP 45.670
CRC Breeze Finance SA 6.110 5/8/2026 EUR 74.417
DWR Cymru Financing UK 2.500 3/31/2036 GBP 71.553
UniCredit Bank Austria 0.050 9/21/2035 EUR 66.234
Yandex NV 0.750 9/13/2022 USD 69.375
Beyond Housing Ltd 2.125 5/17/2051 GBP 52.848
DZ Bank AG Deutsche Zen 4.800 6/26/2029 EUR 65.355
ING-DiBa AG 1.000 5/23/2039 EUR 69.871
British Telecommunicati 1.774 6/25/2042 GBP 71.892
Bausparkasse Schwaebisc 0.200 4/27/2033 EUR 74.157
Ukraine Government Inte 7.750 9/1/2025 USD 33.114
Banco Espirito Santo SA 7.125 11/28/2023 EUR 0.397
Nykredit Realkredit AS 0.500 10/1/2050 DKK 64.200
Land Baden-Wuerttemberg 0.125 11/19/2040 EUR 57.516
Yuksel Insaat AS 9.500 11/10/2015 USD 0.500
City of Lausanne Switze 0.230 11/1/2060 CHF 57.897
SCF Capital Designated 5.375 6/16/2023 USD 73.043
Autonomous Community of 0.700 7/30/2033 EUR 74.205
VEON Holdings BV 3.375 11/25/2027 USD 69.401
State of Schleswig-Hols 0.200 8/15/2039 EUR 60.988
Nykredit Realkredit AS 0.500 10/1/2050 DKK 67.423
Canton of Zurich 0.100 6/23/2045 CHF 73.633
Siemens Financieringsma 3.300 9/15/2046 USD 72.993
Russian Foreign Bond - 2.875 12/4/2025 EUR 62.542
Barclays Bank PLC 3.967 12/28/2040 EUR 73.623
Master & Fellows of Uni 3.068 4/28/2065 GBP 56.250
SCOR SE 1.375 9/17/2051 EUR 73.005
Southern Housing 3.500 10/19/2047 GBP 67.604
Guinness Partnership Lt 2.000 4/22/2055 GBP 47.281
Ukraine Government Inte 7.375 9/25/2034 USD 27.752
Societe Du Grand Paris 0.875 5/10/2046 EUR 55.262
City of Bern Switzerlan 0.040 10/2/2070 CHF 52.503
Havila Shipping ASA 8.120 1/2/2025 NOK 39.054
BAWAG PSK Bank fuer Arb 0.375 3/25/2041 EUR 58.252
Cooperatieve Rabobank U 0.500 7/30/2043 MXN 14.793
Hyde Housing Associatio 1.750 8/18/2055 GBP 44.249
Kuntarahoitus Oyj 0.050 9/10/2035 EUR 68.166
Gecci Investment KG 6.000 10/1/2027 EUR 3.962
Nykredit Realkredit AS 0.500 10/1/2043 DKK 74.923
Telenor ASA 0.875 2/14/2035 EUR 71.927
BPCE SA 3.582 10/19/2042 USD 63.807
Heimstaden Bostad AB 2.800 5/4/2035 EUR 55.274
Aeroports de Paris 1.125 6/18/2034 EUR 74.867
Deutsche Bahn Finance G 0.875 6/23/2039 EUR 67.147
Iren SpA 0.250 1/17/2031 EUR 74.177
Jyske Realkredit A/S 1.500 10/1/2050 DKK 72.754
Salerno Pompei Napoli S 2.800 1/19/2045 EUR 66.320
WD Invest Sarl 1.900 10/2/2024 EUR 11.952
Orpea SA 2.130 7/3/2024 EUR 27.776
AOC I Die Stadtentwickl 7.500 4/8/2027 EUR 49.015
Avangardco Investments 10.000 10/29/2018 USD 0.103
Ukraine Government Inte 7.750 9/1/2027 USD 29.184
Ministeries Van de Vlaa 0.875 3/21/2046 EUR 56.200
State of Rhineland-Pala 0.375 4/1/2041 EUR 60.014
EDOB Abwicklungs AG 7.500 4/1/2012 EUR 1.537
Agence Francaise de Dev 0.500 5/31/2035 EUR 71.023
Cooperatieve Rabobank U 1.000 1/19/2034 EUR 74.802
Rhaetische Bahn AG RHB 0.050 8/3/2050 CHF 67.218
Orpea SA 2.750 6/3/2033 EUR 28.238
DH Europe Finance II Sa 1.800 9/18/2049 EUR 64.411
Commune de Marseille 0.509 12/17/2041 EUR 56.878
Telefonica Emisiones SA 1.864 7/13/2040 EUR 71.286
Intesa Sanpaolo SpA 2.100 11/13/2030 USD 71.707
Paragon Treasury Plc 2.000 5/7/2036 GBP 64.473
de Volksbank NV 0.125 11/19/2040 EUR 56.148
Cardiff University 3.000 12/7/2055 GBP 65.412
New World Resources NV 4.000 10/7/2020 EUR 0.369
OGX Austria GmbH 8.375 4/1/2022 USD 0.067
Ministeries Van de Vlaa 1.500 4/11/2044 EUR 67.548
New World Resources NV 8.000 4/7/2020 EUR 0.105
DSV Finance BV 0.750 7/5/2033 EUR 74.817
Volkswagen Internationa 1.500 1/21/2041 EUR 62.800
Cooperatieve Rabobank U 0.500 10/29/2027 MXN 65.117
Aroundtown SA 4.750 3/27/2032 USD 64.355
Credit Bank of Moscow V 5.550 2/14/2023 USD 22.712
InterCement Financial O 5.750 7/17/2024 USD 66.997
Ukraine Government Bond 19.750 11/5/2025 UAH 74.417
Lithuania Government In 1.625 6/19/2049 EUR 61.927
Stichting Afwikkeling O 6.250 10/26/2020 EUR 43.625
European Primary Placem 1.732 11/9/2055 GBP 45.929
National Gas Transmissi 1.625 1/14/2043 GBP 48.999
Societe Du Grand Paris 1.000 11/26/2051 EUR 50.286
Alno AG 8.500 5/14/2018 EUR 17.305
Canton of Geneva Switze 0.500 10/31/2056 CHF 72.259
Peabody Capital No 2 Pl 3.250 9/14/2048 GBP 65.397
Ukraine Government Inte 7.750 9/1/2024 USD 33.818
Raiffeisen-Landesbank S 0.500 5/27/2041 EUR 59.127
United Utilities Water 2.000 7/3/2033 GBP 71.650
Nordea Kredit Realkredi 1.500 10/1/2053 DKK 65.041
TotalEnergies Capital I 1.535 5/31/2039 EUR 73.308
Omnicom Capital Holding 2.250 11/22/2033 GBP 72.331
Alitalia-Societa Aerea 5.250 7/30/2020 EUR 0.221
Virgolino de Oliveira F 10.500 1/28/2018 USD 0.010
Virgolino de Oliveira F 11.750 2/9/2022 USD 0.628
Caisse Francaise de Fin 0.500 10/1/2046 EUR 52.818
Croatia Government Bond 1.250 3/3/2040 EUR 64.961
BPCE SA 2.315 11/19/2035 AUD 60.502
Land Berlin 0.050 8/6/2040 EUR 56.802
Prosus NV 4.027 8/3/2050 USD 58.743
Anglo American Capital 3.950 9/10/2050 USD 71.055
Yorkshire Water Service 1.462 8/1/2051 GBP 70.236
Sidetur Finance BV 10.000 4/20/2016 USD 0.751
Celtic Resources Holdin 4.125 10/9/2024 USD 14.527
Solarworld AG 9.691 2/24/2019 EUR 14.875
National Gas Transmissi 1.375 2/7/2031 GBP 71.883
O1 Properties Finance P 0.500 9/27/2028 USD 5.823
Intesa Sanpaolo SpA 4.375 1/12/2048 USD 67.810
Investor AB 1.500 6/20/2039 EUR 69.895
OGX Austria GmbH 8.375 4/1/2022 USD 0.067
Deutsche Bahn Finance G 3.350 1/20/2042 AUD 71.429
Swan Housing Capital pl 3.625 3/5/2048 GBP 70.795
Bunzl Finance PLC 1.500 10/30/2030 GBP 74.289
Zurich Finance Ireland 1.600 12/17/2052 EUR 71.759
London & Quadrant Housi 2.000 10/20/2038 GBP 61.086
States of Guernsey Bond 3.375 12/12/2046 GBP 73.333
Northern Powergrid Nort 1.875 6/16/2062 GBP 44.853
Unibail-Rodamco-Westfie 1.750 7/1/2049 EUR 57.401
Shell International Fin 3.125 11/7/2049 USD 67.967
Jyske Realkredit A/S 1.000 10/1/2053 DKK 65.824
Caisse des Depots et Co 1.552 8/16/2038 EUR 72.558
Saltaire Finance PLC 2.711 5/9/2052 GBP 63.999
Electricite de France S 4.990 10/21/2056 USD 74.514
Northern Powergrid York 2.250 10/9/2059 GBP 49.896
Ukraine Government Inte 9.750 11/1/2030 USD 29.833
Autonomous Community of 1.255 10/31/2048 EUR 52.915
National Grid Electrici 1.625 10/7/2035 GBP 63.440
Kommunekredit 0.125 9/26/2040 EUR 57.630
Heimstaden Bostad AB 2.800 5/4/2035 EUR 54.047
Land Securities Capital 2.625 9/22/2037 GBP 69.823
Bayerische Landesbank 1.550 2/13/2040 EUR 48.631
Grand City Properties S 3.432 8/8/2034 EUR 73.061
Deutsche Wohnen SE 0.500 4/7/2031 EUR 74.458
Raiffeisenlandesbank Ob 0.500 1/22/2035 EUR 71.276
Gazprom PJSC Via Gaz Ca 4.950 2/6/2028 USD 74.924
Deutsche Bank AG/London 13.750 6/20/2026 TRY 14.872
Nederlandse Waterschaps 0.877 6/24/2054 EUR 49.749
Prologis International 3.000 2/22/2042 GBP 66.294
Cooperatieve Rabobank U 0.500 10/30/2043 MXN 12.023
Vedanta Resources Finan 9.250 4/23/2026 USD 60.939
Northern Powergrid Nort 3.250 4/1/2052 GBP 66.794
Altice France SA/France 4.250 10/15/2029 EUR 69.244
Community Finance Co 1 0.339 12/1/2040 GBP 74.124
Communaute Francaise de 2.300 4/25/2089 EUR 67.068
Covivio SA/France 0.875 1/20/2033 EUR 70.886
Mallinckrodt Internatio 10.000 4/15/2025 USD 11.942
Martlet Homes Ltd 3.000 5/9/2052 GBP 63.423
Privatbank CJSC Via UK 10.875 2/28/2018 USD 7.542
Credit Agricole Corpora 1.550 9/8/2031 AUD 72.579
National Grid Electrici 0.010 3/26/2036 GBP 71.950
Land Berlin 0.125 11/24/2045 EUR 49.064
Citizen Treasury PLC 3.250 10/20/2048 GBP 68.378
Alpine Holding GmbH 5.250 7/1/2015 EUR 0.372
Liquid Telecommunicatio 5.500 9/4/2026 USD 62.936
ABN AMRO Bank NV 1.115 3/3/2042 EUR 66.840
Nykredit Realkredit AS 1.000 10/1/2053 DKK 59.544
FF Group Finance Luxemb 1.750 7/3/2019 EUR 4.909
Credit Bank of Moscow V 7.500 10/5/2027 USD 21.609
BNG Bank NV 0.010 10/5/2032 EUR 74.727
Region de Bruxelles-Cap 0.562 12/23/2065 EUR 28.080
Orpea SA 3.000 11/25/2041 EUR 27.445
DH Europe Finance II Sa 3.400 11/15/2049 USD 73.496
Manchester Airport Grou 2.875 3/31/2039 GBP 68.006
Elli Finance UK PLC 8.750 6/15/2019 GBP 42.613
Aster Treasury Plc 1.405 1/27/2036 GBP 63.726
Blend Funding PLC 2.922 4/5/2054 GBP 59.992
Deutsche Wohnen SE 1.300 4/7/2041 EUR 58.858
LSF9 Balta Issuer SARL 3.000 12/31/2030 EUR 63.817
Nordea Kredit Realkredi 1.500 10/1/2053 DKK 70.389
Assura Financing PLC 1.500 9/15/2030 GBP 73.520
Banca Popolare di Vicen 2.821 12/20/2017 EUR 0.396
National Grid Electrici 1.657 7/28/2056 GBP 74.262
BPCE SA 2.614 3/4/2036 AUD 62.481
Russian Foreign Bond - 4.750 5/27/2026 USD 55.840
Senivita Social Estate 6.500 5/12/2025 EUR 2.410
ESFIL-Espirito Santo Fi 5.250 6/12/2015 EUR 0.172
Ukraine Government Bond 19.600 4/2/2025 UAH 71.372
Nordea Kredit Realkredi 2.000 10/1/2053 DKK 72.516
Societe Generale SA 10.000 6/28/2034 USD 66.230
Banco Espirito Santo SA 6.438 EUR 1.335
Aktia Bank Oyj 0.800 2/26/2036 EUR 64.404
Deutsche Bahn Finance G 1.375 4/16/2040 EUR 70.996
City of Lugano Switzerl 0.150 11/28/2070 CHF 50.801
BPCE SA 3.582 10/19/2042 USD 63.862
Societe Du Grand Paris 0.300 9/2/2036 EUR 65.330
Eastern Power Networks 1.875 6/1/2035 GBP 67.301
Ministeries Van de Vlaa 0.125 10/15/2035 EUR 66.130
Ile-de-France Mobilites 1.275 2/14/2042 EUR 66.553
Caisse Francaise de Fin 0.125 2/15/2036 EUR 65.779
Pershing Square Holding 4.950 7/15/2039 USD 72.089
Assistance Publique Hop 1.750 11/27/2041 EUR 72.793
Bromford Housing Group 2.554 3/17/2054 GBP 54.620
Swissgrid AG 0.050 6/30/2050 CHF 56.974
MMK International Capit 4.375 6/13/2024 USD 27.930
Nestle Hungaria Kft 1.750 5/31/2028 HUF 74.500
Nordea Kredit Realkredi 1.500 10/1/2050 DKK 72.812
Pentracor GmbH 8.500 5/29/2025 EUR 2.601
Canary Wharf Group Inve 1.750 4/7/2026 EUR 69.533
Espirito Santo Financia 3.125 12/2/2018 EUR 0.760
Church Commissioners fo 3.625 7/14/2052 GBP 73.155
Segro PLC 2.875 10/11/2037 GBP 70.155
Tennor Finance BV 5.750 6/17/2024 EUR 65.000
Credit Agricole Italia 0.125 3/15/2033 EUR 70.335
European Financial Stab 1.200 2/17/2045 EUR 66.790
Nykredit Realkredit AS 0.500 10/1/2053 DKK 62.032
BNG Bank NV 0.875 10/24/2036 EUR 73.749
NRW Bank 0.100 7/9/2035 EUR 68.519
Barclays Bank PLC 0.500 1/28/2033 MXN 40.466
Societe Du Grand Paris 1.700 5/25/2050 EUR 64.160
La Poste SA 1.000 9/17/2034 EUR 74.193
A2A SpA 0.625 10/28/2032 EUR 72.026
Italgas SpA 0.500 2/16/2033 EUR 71.069
Jyske Realkredit A/S 2.000 10/1/2053 DKK 72.295
Pro-Gest SpA 3.250 12/15/2024 EUR 70.938
Telefonica Emisiones SA 1.957 7/1/2039 EUR 73.939
ABN AMRO Bank NV 0.400 9/17/2041 EUR 58.530
Hacienda Investments Lt 5.350 2/8/2028 USD 58.116
Metalloinvest Finance D 3.375 10/22/2028 USD 54.088
Deutsche Lichtmiete AG 5.750 12/1/2023 EUR 1.703
Transports Publics Du C 0.450 12/29/2056 CHF 64.725
Ukraine Government Inte 4.375 1/27/2032 EUR 24.774
Caisse Francaise de Fin 0.375 2/13/2040 EUR 60.315
Gol Finance SA 7.000 1/31/2025 USD 59.903
Altice France SA/France 3.375 1/15/2028 EUR 69.964
Beno Holding AG 5.300 11/29/2027 EUR 69.577
Region de Bruxelles-Cap 0.444 3/19/2057 EUR 33.026
Novo Banco SA/Luxembour 3.500 3/18/2043 EUR 73.117
Credit Suisse AG/London 9.000 4/22/2024 USD 30.000
Wrekin Housing Group Lt 2.500 10/22/2048 GBP 57.159
Thames Water Utilities 2.442 5/12/2050 GBP 45.039
Communaute Francaise de 0.625 6/11/2035 EUR 70.545
Volkswagen Internationa 3.500 4/2/2043 EUR 74.603
Espirito Santo Financia 9.750 12/19/2025 EUR 0.759
Muenchener Hypothekenba 1.000 4/18/2039 EUR 70.792
Virgolino de Oliveira F 10.500 1/28/2018 USD 0.641
Banca Popolare di Vicen 9.500 9/29/2025 EUR 0.380
State of North Rhine-We 0.500 1/15/2052 EUR 47.602
University of Liverpool 3.375 6/25/2055 GBP 71.433
Coruripe Netherlands BV 10.000 2/10/2027 USD 73.217
Borets Finance DAC 6.000 9/17/2026 USD 48.771
Free and Hanseatic City 0.200 9/3/2049 EUR 45.126
Wales & West Utilities 1.875 5/28/2041 GBP 56.815
MHP SE 7.750 5/10/2024 USD 67.960
Offshore Drilling Holdi 8.375 9/20/2020 USD 1.040
Scottish Hydro Electric 2.250 9/27/2035 GBP 69.607
Platform HG Financing P 1.926 9/15/2041 GBP 60.125
Region Provence-Alpes-C 1.460 10/3/2036 EUR 74.793
Thames Water Utilities 1.760 8/28/2062 GBP 63.181
Sovereign Housing Capit 2.375 11/4/2048 GBP 56.792
Caisse des Depots et Co 1.930 3/6/2048 EUR 68.161
Realkredit Danmark A/S 2.000 10/1/2053 DKK 72.278
Cooperatieve Rabobank U 0.500 1/31/2033 MXN 37.847
Societa di Progetto Bre 3.375 12/31/2038 EUR 71.908
RTE Reseau de Transport 1.125 7/8/2040 EUR 66.788
Ukraine Government Inte 8.994 2/1/2026 USD 30.346
Gazprom PJSC via Gaz Fi 1.850 11/17/2028 EUR 60.133
WM Morrison Supermarket 2.500 10/1/2031 GBP 36.713
Gazprom PJSC via Gaz Fi 3.897 EUR 60.317
Nationale-Nederlanden B 0.375 3/4/2041 EUR 59.041
Muenchener Hypothekenba 0.010 10/19/2039 EUR 57.609
Haya Holdco 2 PLC 12.462 11/30/2025 EUR 38.536
Jyske Realkredit A/S 1.500 10/1/2053 DKK 70.353
Autonomous Community of 2.300 5/24/2049 EUR 67.922
National Grid Electrici 2.000 9/16/2038 GBP 60.669
Republic of Ireland Int 1.425 9/18/2119 EUR 48.306
Autoroute de Liaison Se 2.485 7/31/2046 EUR 74.941
NAK Naftogaz Ukraine vi 7.625 11/8/2026 USD 40.086
Malta Government Bond 1.000 8/23/2035 EUR 72.250
Deutsche Lichtmiete AG 5.250 2/1/2027 EUR 0.850
Berner Kantonalbank AG 0.100 9/30/2039 CHF 72.997
Realkredit Danmark A/S 1.500 10/1/2053 DKK 65.010
Fresnillo PLC 4.250 10/2/2050 USD 72.770
Serbia International Bo 2.050 9/23/2036 EUR 62.127
Prs Finance PLC 1.500 8/24/2034 GBP 70.264
State of Hesse 0.750 8/4/2036 EUR 73.041
Deutsche Lichtmiete AG 5.250 9/1/2025 EUR 0.626
Romanian Government Int 2.000 4/14/2033 EUR 70.257
City of Lausanne Switze 0.680 3/11/2058 CHF 71.636
Transport for London 3.625 5/15/2045 GBP 74.616
Blend Funding PLC 3.508 5/4/2057 GBP 66.639
LiveWest Treasury PLC 1.875 2/18/2056 GBP 46.250
Holcim US Finance Luxem 2.240 10/15/2031 USD 74.551
SNCF Reseau 2.250 12/20/2047 EUR 73.827
Bayerische Landesbank 2.020 10/14/2030 EUR 74.988
Nordea Kredit Realkredi 0.500 10/1/2050 DKK 67.490
DWR Cymru Financing UK 1.375 3/31/2033 GBP 68.847
Region Wallonne Belgium 0.650 1/16/2051 EUR 45.273
Muenchener Hypothekenba 0.250 3/29/2041 CHF 74.902
Intesa Sanpaolo SpA 1.400 2/8/2031 GBP 67.318
Sovcombank Via SovCom C 7.750 USD 1.358
Penarian Housing Financ 3.212 6/7/2052 GBP 66.522
London & Quadrant Housi 2.750 7/20/2057 GBP 55.100
Yorkshire Water Service 1.758 2/1/2054 GBP 72.752
Severn Trent Utilities 1.602 9/29/2056 GBP 74.228
Karbon Homes Ltd 3.375 11/15/2047 GBP 71.699
Action Logement Service 0.750 7/19/2041 EUR 60.103
SNCF Reseau 2.000 2/5/2048 EUR 68.982
Commune de Marseille 0.498 12/17/2040 EUR 58.511
de Volksbank NV 0.375 9/16/2041 EUR 57.594
Ministeries Van de Vlaa 1.500 7/12/2038 EUR 74.666
Irish Bank Resolution C 0.566 6/21/2016 EUR 0.679
Caisse Francaise de Fin 0.625 1/20/2042 EUR 60.527
adidas AG 0.625 9/10/2035 EUR 70.630
Region de Bruxelles-Cap 1.100 6/22/2066 EUR 43.297
Abengoa Abenewco 2 SA 1.500 10/26/2024 USD 0.009
Nederlandse Waterschaps 0.125 9/3/2035 EUR 68.180
Credit Suisse AG/London 2.300 9/24/2031 USD 74.384
Ile-de-France Mobilites 0.950 5/28/2041 EUR 63.611
National Grid Electrici 1.541 12/1/2053 GBP 70.705
Lloyds Bank PLC 2.560 9/4/2038 SEK 70.529
Northern Electric Finan 2.750 5/24/2049 GBP 61.823
TechnipFMC PLC 3.750 10/7/2033 EUR 69.893
Norske Skogindustrier A 7.000 12/30/2026 EUR 0.010
Privatbank CJSC Via UK 11.000 2/9/2021 USD 1.000
Jyske Realkredit A/S 1.000 10/1/2053 DKK 70.852
ABN AMRO Bank NV 0.375 1/14/2035 EUR 71.590
Communaute Francaise de 0.626 8/24/2040 EUR 59.696
Waterside Campus Develo 3.302 11/30/2054 GBP 74.010
Ukraine Government Inte 7.750 9/1/2029 USD 29.543
DZ Bank AG Deutsche Zen 1.055 3/11/2031 EUR 70.989
LIB-Landesimmobilien Bu 0.620 7/15/2041 EUR 61.544
Russian Foreign Bond - 5.250 6/23/2047 USD 36.976
Kernel Holding SA 6.750 10/27/2027 USD 59.093
Deutsche Wohnen SE 2.000 3/28/2034 EUR 69.106
City of Lausanne Switze 0.600 11/30/2056 CHF 69.994
Free and Hanseatic City 0.250 2/18/2041 EUR 58.635
Societe Generale SA 2.360 5/25/2031 USD 74.797
Onward Homes Ltd 2.125 3/25/2053 GBP 49.312
Single Platform Investm 3.070 8/15/2041 NOK 70.533
RHP Finance PLC 3.250 2/5/2048 GBP 69.887
Russian Federal Bond - 6.900 2/6/2036 RUB 74.980
Herefordshire Capital P 4.193 11/28/2049 GBP 71.450
Republic of Belarus Int 7.625 6/29/2027 USD 48.924
Atari SA 6.500 7/31/2026 EUR #N/A N/A
City of Lausanne Switze 0.600 7/6/2050 CHF 74.251
Metinvest BV 7.750 10/17/2029 USD 59.000
Kommunekredit 0.500 7/30/2027 TRY 30.559
Motability Operations G 2.375 7/3/2039 GBP 67.336
Lehman Brothers UK Capi 5.125 EUR 16.125
Lukoil Capital DAC 3.600 10/26/2031 USD 72.284
Banco Santander SA 0.100 2/27/2032 EUR 74.595
Paradigm Homes Charitab 2.250 5/20/2051 GBP 54.201
Orpea SA 2.000 8/9/2029 EUR 28.240
Luzerner Kantonalbank A 0.150 10/7/2044 CHF 69.315
Electricite de France S 4.650 10/21/2046 USD 74.978
Nordea Kredit Realkredi 1.000 10/1/2053 DKK 59.632
Diebold Nixdorf Dutch H 9.000 7/15/2025 EUR 7.618
Landesbank Saar 0.650 11/19/2035 EUR 64.602
Kreditanstalt fuer Wied 1.000 10/19/2050 EUR 58.321
London & Quadrant Housi 3.750 10/27/2049 GBP 70.510
DWR Cymru Financing UK 2.375 3/31/2034 GBP 68.194
Endo Luxembourg Finance 6.125 4/1/2029 USD 72.250
MHP Lux SA 6.950 4/3/2026 USD 56.904
Region Hauts-de-France 0.402 2/18/2043 EUR 53.117
BAWAG PSK Bank fuer Arb 0.625 6/19/2034 EUR 73.800
British Telecommunicati 3.883 6/25/2039 GBP 71.986
Sovcombank Via SovCom C 7.600 USD 4.035
Sberbank of Russia Via 5.125 10/29/2022 USD 32.618
Stonewater Funding PLC 1.625 9/10/2036 GBP 63.275
Nykredit Realkredit AS 1.000 10/1/2050 DKK 67.090
Intrum AB 3.500 7/15/2026 EUR 74.823
Aroundtown SA 2.970 9/26/2033 EUR 54.275
MS Deutschland Beteilig 6.875 12/18/2017 EUR 0.100
Orbit Capital PLC 3.375 6/14/2048 GBP 67.239
Nostrum Oil & Gas Finan 5.000 6/30/2026 USD 64.576
Lehman Brothers UK Capi 3.875 EUR 18.750
Muenchener Hypothekenba 0.125 9/5/2035 EUR 68.115
Polyus Finance PLC 3.250 10/14/2028 USD 61.664
Incommunities Treasury 3.250 3/21/2049 GBP 69.685
MHP Lux SA 6.250 9/19/2029 USD 53.481
State of North Rhine-We 0.500 11/25/2039 EUR 63.763
Holcim Finance Luxembou 1.375 10/8/2036 EUR 62.433
Kommunekredit 1.375 5/18/2046 SEK 62.890
Ukraine Government Inte 15.840 2/26/2025 UAH 71.966
Ville de Paris 0.450 10/20/2045 EUR 51.086
State of Bremen 0.450 2/24/2051 EUR 47.141
Raiffeisenlandesbank Ob 3.093 6/9/2036 EUR 65.600
Altice France SA/France 4.125 1/15/2029 EUR 69.812
PJSC Koks via IMH Capit 5.900 9/23/2025 USD 8.623
Mondelez International 1.250 9/9/2041 EUR 63.721
LSEGA Financing PLC 3.200 4/6/2041 USD 72.187
Credit Agricole Italia 0.750 1/20/2042 EUR 58.067
State of North Rhine-We 0.375 9/2/2050 EUR 46.412
Aroundtown SA 2.700 10/31/2028 EUR 70.634
Aragvi Finance Internat 8.450 4/29/2026 USD 66.731
Cadent Finance PLC 3.125 3/21/2040 GBP 68.116
Prosus NV 1.985 7/13/2033 EUR 67.889
Intesa Sanpaolo SpA 2.500 10/14/2031 USD 72.233
State of Brandenburg 0.600 10/13/2051 EUR 49.523
PIK Securities DAC 5.625 11/19/2026 USD 44.320
VF Ukraine PAT via VFU 6.200 2/11/2025 USD 74.009
Romanian Government Int 3.375 1/28/2050 EUR 62.228
State of North Rhine-We 0.800 7/30/2049 EUR 55.026
Landeskreditbank Baden- 0.610 11/17/2050 EUR 52.758
Hellas Telecommunicatio 8.500 10/15/2013 EUR 0.140
State of Bremen 0.500 5/6/2041 EUR 60.890
UBS AG/London 11.000 1/8/2024 CHF 20.920
Russian Federal Bond - 0.250 7/20/2044 RUB 15.000
Windreich GmbH 6.500 7/15/2016 EUR 2.780
LiveWest Treasury PLC 2.250 10/10/2043 GBP 60.609
Republic of Ireland Int 0.740 11/27/2120 EUR 27.334
Bank Nadra Via NDR Fina 8.250 7/31/2018 USD 0.208
BAE Systems PLC 3.000 9/15/2050 USD 64.377
Altice France SA/France 4.000 7/15/2029 EUR 69.078
Compact Bidco BV 5.750 5/1/2026 EUR 64.963
Nordea Kredit Realkredi 0.500 10/1/2053 DKK 65.505
Italy Buoni Poliennali 2.800 3/1/2067 EUR 67.845
Kommunekredit 0.875 11/3/2036 EUR 73.409
Bayerische Landesbank 1.820 5/12/2031 EUR 71.700
ING Bank NV 1.000 2/17/2037 EUR 73.692
Notting Hill Genesis 3.250 10/12/2048 GBP 65.012
Metinvest BV 7.650 10/1/2027 USD 61.100
Affinity Water Finance 0.230 11/22/2042 GBP 61.139
DZ Bank AG Deutsche Zen 1.550 6/27/2041 EUR 71.580
Veneto Banca SpA 9.878 12/1/2025 EUR 0.708
BPCE SFH SA 0.375 3/18/2041 EUR 58.651
DZ HYP AG 0.375 11/10/2034 EUR 72.112
MVM Energetika Zrt 3.250 9/3/2031 HUF 70.000
Orbit Capital PLC 2.000 11/24/2038 GBP 60.805
Free State of Bavaria 0.010 3/28/2036 EUR 66.026
London & Quadrant Housi 3.125 2/28/2053 GBP 61.944
GN Store Nord AS 1.970 3/3/2036 EUR 56.916
Action Logement Service 0.500 10/30/2034 EUR 71.605
State of North Rhine-We 0.750 8/16/2041 EUR 63.586
Holcim Sterling Finance 2.250 4/4/2034 GBP 69.338
Metinvest BV 8.500 4/23/2026 USD 66.757
AXA Bank Europe SCF 0.250 6/9/2040 EUR 58.525
Banco Espirito Santo SA 6.618 EUR 0.415
Single Platform Investm 1.448 7/25/2053 EUR 58.989
Espirito Santo Financia 5.050 11/15/2025 EUR 0.759
Russian Foreign Bond - 5.875 9/16/2043 USD 66.416
FNG Benelux Holding NV 5.000 8/28/2023 EUR 1.013
State of Saxony-Anhalt 0.500 3/24/2051 EUR 48.477
AXA Home Loan SFH SA 0.125 6/25/2035 EUR 67.636
Dtek Renewables Finance 8.500 11/12/2024 EUR 51.858
Blend Funding PLC 2.467 6/16/2061 GBP 48.734
State of North Rhine-We 1.550 6/16/2048 EUR 68.984
Deutsche Bank AG 1.580 10/23/2031 EUR 73.872
Gazprom PJSC via Gaz Fi 3.250 2/25/2030 USD 62.217
Engie SA 1.375 6/21/2039 EUR 66.805
Rena GmbH 7.000 12/15/2015 EUR 0.054
Aktia Bank Oyj 0.500 3/30/2031 EUR 74.152
Signa Development Finan 5.500 7/23/2026 EUR 70.458
CBo Territoria 3.750 7/1/2024 EUR 4.700
Bazalgette Finance Plc 2.750 3/10/2034 GBP 74.931
Autobahnen- und Schnell 0.100 7/16/2035 EUR 69.084
AnaCap Financial Europe 8.725 8/1/2024 EUR 49.324
ESB Finance DAC 1.875 7/21/2035 GBP 67.627
Norske Skogindustrier A 2.000 12/30/2115 EUR 0.367
State of Lower Austria 1.000 9/15/2121 EUR 30.447
Ahtium PLC 4.000 12/16/2015 EUR 0.586
Region Provence-Alpes-C 0.753 1/5/2037 EUR 66.530
Erste Group Bank AG 0.500 1/12/2037 EUR 67.237
Region of Pays de la Lo 0.877 10/28/2041 EUR 61.169
Orbit Capital PLC 3.500 3/24/2045 GBP 70.063
Severstal OAO Via Steel 3.150 9/16/2024 USD 5.485
Hemso Fastighets AB 3.020 9/14/2048 SEK 61.788
Thames Water Utilities 1.771 8/28/2057 GBP 63.512
Housing & Care 21 3.288 11/8/2049 GBP 67.339
NRW Bank 1.150 9/16/2051 EUR 60.678
Kommunekredit 1.700 6/26/2045 EUR 73.470
Allergan Funding SCS 4.750 3/15/2045 USD 74.344
State of Bremen 0.400 8/20/2049 EUR 48.001
Caisse Francaise de Fin 0.510 11/19/2040 EUR 59.596
A-TEC Industries AG 8.750 10/27/2014 EUR 0.100
Republic of Belarus Int 6.378 2/24/2031 USD 40.225
DekaBank Deutsche Giroz 1.100 11/25/2030 EUR 72.024
Notting Hill Genesis 2.000 6/3/2036 GBP 65.117
Nederlandse Waterschaps 1.625 1/29/2048 EUR 70.582
Phosphorus Holdco PLC 10.000 4/1/2019 GBP 0.947
Pershing Square Holding 3.000 7/15/2032 USD 69.689
Thames Water Utilities 1.819 8/28/2049 GBP 68.487
niiio finance group AG 4.000 5/31/2026 EUR 35.000
Boparan Finance PLC 7.625 11/30/2025 GBP 66.304
Swissgrid AG 0.200 6/29/2040 CHF 71.782
British Telecommunicati 3.924 6/25/2042 GBP 68.803
Hylea Group SA 7.250 12/1/2022 EUR 0.200
Jyske Realkredit A/S 1.500 10/1/2053 DKK 65.037
Intesa Sanpaolo SpA 2.700 3/29/2031 USD 73.878
Pfandbriefbank schweize 0.375 6/15/2046 CHF 74.582
Kreditanstalt fuer Wied 1.100 9/16/2051 EUR 59.542
Malta Government Bond 1.200 5/13/2037 EUR 71.028
Gemeente Bergen OP Zoom 0.440 9/20/2044 EUR 55.162
Stelius Befektetoe Zart 3.100 9/17/2030 HUF 66.500
VST Building Technologi 7.000 6/28/2024 EUR 0.031
Single Platform Investm 2.965 2/15/2042 NOK 71.634
Celtic Resources Holdin 4.125 10/9/2024 USD 14.527
Lukoil Securities BV 3.875 5/6/2030 USD 74.222
Ukraine Government Bond 12.940 2/14/2024 UAH 74.564
Unibail-Rodamco-Westfie 2.000 5/29/2037 EUR 73.720
Land Thueringen 1.127 4/2/2049 EUR 60.136
Republic of Belarus Int 5.875 2/24/2026 USD 49.105
Intrum AB 3.000 9/15/2027 EUR 66.650
Credit Suisse Internati 9.500 3/24/2026 UAH 58.510
Banco Espirito Santo SA 6.875 7/15/2016 EUR 21.162
Deutsche Konsum REIT-AG 3.100 4/28/2031 EUR 74.774
Cie de Financement Fonc 0.010 10/29/2035 EUR 65.820
Ministeries Van de Vlaa 1.000 10/13/2036 EUR 72.813
Caisse Francaise de Fin 0.010 10/19/2035 EUR 65.411
Hungary Government Inte 3.125 9/21/2051 USD 59.167
Single Platform Investm 1.548 10/31/2050 EUR 60.004
City of Hanover Germany 1.560 5/3/2048 EUR 69.527
Kingdom of Belgium Gove 1.400 6/22/2053 EUR 60.816
Gazprom PJSC via Gaz Fi 2.950 1/27/2029 USD 63.000
Region Wallonne Belgium 1.000 9/16/2059 EUR 42.959
Single Platform Investm 4.020 7/1/2052 EUR 53.898
Russian Foreign Bond - 5.625 4/4/2042 USD 67.663
Natixis SA 3.630 6/14/2039 AUD 66.938
Kleopatra Holdings 2 SC 6.500 9/1/2026 EUR 64.417
Raiffeisenlandesbank Ob 1.650 8/23/2046 EUR 68.638
Agrokor dd 9.875 5/1/2019 EUR 15.000
Flamingo Lux II SCA 5.000 3/31/2029 EUR 64.642
Soc Nationale SNCF SACA 2.457 12/23/2050 USD 60.845
SCC Power PLC 6.000 12/31/2028 USD 50.878
Republic of Ireland Int 1.560 2/16/2122 EUR 52.550
Kuntarahoitus Oyj 1.449 3/1/2061 EUR 66.224
Garfunkelux Holdco 3 SA 7.750 11/1/2025 GBP 74.558
Assa Abloy AB 0.650 8/28/2034 EUR 70.519
Yorkshire Water Service 1.462 8/1/2051 GBP 71.451
Muenchener Hypothekenba 0.568 6/15/2032 EUR 73.502
Realkredit Danmark A/S 0.500 10/1/2043 DKK 74.924
Region Wallonne Belgium 0.500 6/22/2037 EUR 64.956
KTG Agrar SE 7.125 6/6/2017 EUR 2.001
Achmea Bank NV 0.250 9/29/2036 EUR 66.519
ING Bank NV 0.182 4/21/2033 EUR 74.035
Commune de Marseille 1.712 12/6/2039 EUR 74.878
Thames Water Utilities 2.620 3/22/2033 GBP 69.342
Land Thueringen 0.100 7/9/2035 EUR 68.742
Kommunekredit 0.625 11/21/2039 EUR 65.853
Region Hauts-de-France 0.691 7/9/2042 EUR 58.038
DLR Kredit A/S 1.000 10/1/2050 DKK 68.634
Region Centre 0.711 11/2/2036 EUR 67.237
Interpipe Holdings PLC 8.375 5/13/2026 USD 63.888
Kernel Holding SA 6.500 10/17/2024 USD 69.644
Development Bank of the 6.750 5/2/2024 USD 41.325
Landesbank Baden-Wuertt 13.100 11/24/2023 EUR 67.340
Dexia SA 5.495 EUR 2.805
Ministeries Van de Vlaa 1.000 1/23/2051 EUR 53.271
Affinity Water Finance 3.278 8/22/2042 GBP 66.298
Bayerische Landesbodenk 0.250 3/21/2036 EUR 68.638
Abengoa Abenewco 1 SA 6.000 6/10/2022 EUR 0.454
Ile-de-France Mobilites 0.675 11/24/2036 EUR 68.911
Futureal Development Ho 4.000 3/23/2031 HUF 69.000
Jyske Realkredit A/S 1.000 10/1/2053 DKK 59.627
Realkredit Danmark A/S 0.500 10/1/2053 DKK 62.043
Metropolitano de Teneri 1.229 7/30/2036 EUR 69.876
Euronext NV 1.500 5/17/2041 EUR 67.854
Romanian Government Int 2.750 4/14/2041 EUR 60.834
Soc Nationale SNCF SACA 1.280 3/27/2120 EUR 33.321
Free and Hanseatic City 0.400 11/23/2051 EUR 45.691
National Grid Electrici 1.676 9/24/2052 GBP 74.045
National Grid Electrici 1.151 2/20/2040 EUR 61.413
Junta de Castilla y Leo 1.275 4/7/2049 EUR 53.717
Slovenska Sporitelna AS 4.820 EUR 64.590
Romanian Government Int 2.875 4/13/2042 EUR 61.008
Vasakronan AB 1.870 6/3/2039 EUR 45.693
Iberdrola Finanzas SA 1.000 2/2/2037 EUR 69.243
International Finance F 0.500 6/29/2027 ZAR 70.374
La Banque Postale Home 0.250 2/12/2035 EUR 69.606
Abengoa Abenewco 2 Bis 1.500 4/26/2024 USD 1.046
United Utilities Water 1.435 11/21/2056 GBP 70.893
Russian Foreign Bond - 7.500 3/31/2030 USD 66.029
State of Brandenburg 0.125 1/26/2046 EUR 48.621
Credit Agricole Italia 1.000 1/17/2045 EUR 57.180
Jyske Realkredit A/S 0.500 10/1/2050 DKK 64.229
Cirio Holding Luxembour 6.250 2/16/2004 EUR 2.231
Nationwide Building Soc 0.485 7/11/2044 CHF 73.135
Chelyabinsk Pipe Plant 4.500 9/19/2024 USD 58.616
Romanian Government Int 2.625 12/2/2040 EUR 60.858
Realkredit Danmark A/S 1.500 10/1/2050 DKK 72.784
Royal Schiphol Group NV 2.890 10/25/2034 AUD 69.921
Canton of Neuchatel 0.350 7/14/2050 CHF 69.999
British Telecommunicati 1.739 6/25/2039 GBP 68.031
Land Berlin 0.625 8/25/2036 EUR 71.502
Gazprom PJSC via Gaz Fi 1.500 2/17/2027 EUR 64.051
Hampshire Trust Bank PL 7.250 5/10/2028 GBP 70.378
Romanian Government Int 4.000 2/14/2051 USD 67.305
Kingdom of Belgium Gove 0.459 7/23/2079 EUR 28.167
NRW Bank 1.250 5/13/2049 EUR 64.665
Realkredit Danmark A/S 0.500 10/1/2050 DKK 64.228
Stadt Graz 1.878 10/31/2046 EUR 71.552
Kelag-Kaerntner Elektri 1.150 4/16/2041 EUR 62.943
Gazprom PJSC via Gaz Fi 3.500 7/14/2031 USD 60.228
Single Platform Investm 2.085 1/24/2044 NOK 57.256
Banco Santander SA 5.886 EUR 1.562
DLR Kredit A/S 0.500 10/1/2053 DKK 66.945
FLUVIUS System Operator 3.000 10/27/2044 EUR 72.101
CBo Territoria 7.000 6/30/2028 EUR 4.260
Deutsche Lichtmiete Fin 5.750 1/1/2023 EUR 4.250
United Kingdom Gilt 1.125 10/22/2073 GBP 36.149
Ideal Standard Internat 6.375 7/30/2026 EUR 63.191
Credit Suisse AG/London 11.500 9/25/2023 CHF 17.940
Credit Agricole SA 3.750 6/9/2040 AUD 65.226
BPCE SA 0.500 10/21/2034 EUR 67.478
UniCredit Bank AG 6.600 7/20/2028 EUR 1.700
Single Platform Investm 0.700 9/20/2041 EUR 56.261
Malta Government Bond 1.500 10/22/2045 EUR 62.051
Aareal Bank AG 1.576 2/23/2032 EUR 70.213
Fastighets AB Balder 1.293 3/3/2031 EUR 58.671
NRW Bank 1.182 8/7/2050 EUR 58.779
Ziggo Bond Co BV 3.375 2/28/2030 EUR 74.513
Cooperatieve Rabobank U 0.500 11/30/2027 MXN 64.555
Caisse de Refinancement 0.250 2/7/2035 EUR 69.883
La Financiere Atalian S 5.125 5/15/2025 EUR 68.350
National Grid Electrici 1.690 9/16/2041 GBP 52.365
UBS Group AG 1.269 10/27/2033 JPY 74.897
Department of Loiret Fr 0.478 10/30/2040 EUR 58.423
Region Wallonne Belgium 1.250 6/22/2071 EUR 46.746
State of Lower Saxony 0.050 3/9/2035 EUR 69.292
Erotik-Abwicklungsgesel 7.750 7/9/2019 EUR 0.779
Land Baden-Wuerttemberg 0.375 7/20/2048 EUR 47.717
Maxeda DIY Holding BV 5.875 10/1/2026 EUR 73.699
Alfa Bank AO Via Alfa B 5.950 4/15/2030 USD 1.359
La Financiere Atalian S 4.000 5/15/2024 EUR 72.135
Municipality of Utrecht 0.950 3/2/2037 EUR 73.704
SCF Capital Designated 3.850 4/26/2028 USD 65.808
Muenchener Hypothekenba 0.250 5/2/2036 EUR 67.765
City of Amsterdam Nethe 1.515 2/26/2044 EUR 71.517
Raiffeisenlandesbank Ni 0.375 1/15/2035 EUR 70.129
Cooperatieve Rabobank U 0.500 8/21/2028 MXN 60.102
State of Bremen 0.150 9/14/2040 EUR 57.672
Banque Cantonale de Fri 0.100 11/1/2044 CHF 67.786
Pfandbriefzentrale der 0.050 10/6/2043 CHF 71.279
Logicor Financing Sarl 2.875 12/6/2029 GBP 74.566
Anglian Water Services 1.760 11/13/2035 GBP 63.245
Kuntarahoitus Oyj 0.940 6/9/2064 EUR 58.167
Assistance Publique Hop 1.125 4/16/2047 EUR 57.508
Charm Finance PLC 3.509 4/12/2048 GBP 68.728
Serbia International Bo 1.650 3/3/2033 EUR 67.413
Spain Government Bond 1.450 10/31/2071 EUR 45.453
Societe Du Grand Paris 2.062 3/19/2070 EUR 59.606
DZ Bank AG Deutsche Zen 0.510 1/25/2036 EUR 61.730
Canton of Neuchatel 0.100 10/29/2049 CHF 65.400
Gazprom PJSC Via Gaz Ca 4.950 3/23/2027 USD 74.504
Land Berlin 0.625 7/15/2039 EUR 66.060
Global Ports Finance PL 6.500 9/22/2023 USD 44.602
MBH Mortgage Bank Co PL 2.600 10/22/2028 HUF 72.700
Deutsche Bahn Finance G 1.850 11/23/2043 EUR 65.691
Jyske Realkredit A/S 0.500 10/1/2053 DKK 65.377
Investitionsbank Berlin 0.050 3/2/2035 EUR 69.053
Republic of Ireland Int 0.835 7/8/2080 EUR 39.631
Hamon & CIE SA 3.300 1/31/2035 EUR 46.307
Severn Trent Utilities 1.501 8/1/2058 GBP 71.908
State of Mecklenburg-We 0.239 11/17/2070 EUR 23.782
BNP Paribas SA 0.990 5/6/2024 USD 15.180
Ukraine Government Bond 19.750 2/18/2026 UAH 73.450
Ukraine Government Bond 14.000 6/26/2024 UAH 72.276
Jyske Realkredit A/S 0.500 10/1/2050 DKK 67.499
DXC Capital Funding DAC 0.950 9/15/2031 EUR 71.761
United Utilities Water 1.587 8/16/2056 GBP 73.618
Free State of Saxony 0.400 5/12/2036 EUR 69.975
Kreditanstalt fuer Wied 0.788 11/4/2039 EUR 68.198
Ukraine Government Inte 9.790 5/26/2027 UAH 53.822
Midland Heart Capital P 1.831 8/12/2050 GBP 48.422
HSBC Continental Europe 1.140 8/26/2049 EUR 51.636
Sairgroup Finance BV 4.375 6/8/2006 EUR 0.250
T-Centrum CZ AS 11.710 10/30/2024 CZK 46.300
Basque Government 1.750 4/22/2050 EUR 60.000
Futures Treasury PLC 3.375 2/8/2044 GBP 72.160
United Utilities Water 1.750 2/10/2038 GBP 60.028
Codere Finance 2 Luxemb 12.750 11/30/2027 EUR 25.000
Vier Gas Transport GmbH 0.500 9/10/2034 EUR 67.914
Region Wallonne Belgium 1.600 3/29/2039 EUR 71.736
SpareBank 1 SR-Bank ASA 2.800 9/19/2044 EUR 72.267
Cie de Financement Fonc 0.975 8/11/2046 EUR 61.840
Region de Bruxelles-Cap 1.220 6/23/2053 EUR 53.646
Commune de Marseille 1.079 11/19/2046 EUR 57.157
BNP Paribas SA 1.590 2/23/2051 EUR 61.220
Deutsche Bank Luxembour 1.560 10/6/2028 EUR 69.553
Autonomous Community of 2.738 10/31/2049 EUR 74.632
Yarlington Treasury Ser 3.410 9/18/2057 GBP 63.679
VIA A11 NV 4.490 9/30/2045 EUR 71.975
United Utilities Water 0.379 12/9/2036 GBP 73.421
Abengoa Abenewco 2 Bis 1.500 4/26/2024 USD 1.046
St Galler Kantonalbank 0.100 10/10/2041 CHF 72.215
La Banque Postale Home 0.640 1/27/2042 EUR 61.554
DLR Kredit A/S 1.000 10/1/2050 DKK 73.123
Sibur Securities DAC 2.950 7/8/2025 USD 65.418
Prosus NV 2.778 1/19/2034 EUR 72.335
Region Bourgogne-Franch 0.270 12/7/2035 EUR 64.336
Eolo SpA 4.875 10/21/2028 EUR 72.278
Barclays Bank PLC 5.000 11/1/2029 BRL 72.039
Cirio Finance Luxembour 7.500 11/3/2002 EUR 3.056
Telia Co AB 3.000 9/25/2064 EUR 67.211
United Utilities Water 0.387 10/5/2057 GBP 46.058
Romanian Government Int 2.000 1/28/2032 EUR 73.178
State of Brandenburg 0.500 11/21/2039 EUR 63.961
Pershing Square Holding 3.000 7/15/2032 USD 69.689
Evan Group PLC 6.000 7/31/2022 EUR 4.510
Bank of Valletta PLC 3.750 6/15/2031 EUR 71.812
Norwegian Air Shuttle A 7.830 NOK 74.000
Uliving@essex3 LLP 2.720 8/31/2066 GBP 47.551
Heta Asset Resolution A 3.786 12/31/2023 EUR 1.168
Agatos SpA 4.750 12/31/2026 EUR 68.000
EVN AG 0.850 10/15/2035 EUR 68.770
Aroundtown SA 3.250 11/12/2032 EUR 57.231
Niedersachsen Invest Gm 0.250 7/16/2035 EUR 70.507
Caisse des Depots et Co 2.766 8/9/2049 USD 65.021
Communaute Francaise de 1.397 7/18/2059 EUR 50.872
Cirio Del Monte NV 7.750 3/14/2005 EUR 2.261
Norwegian Air Shuttle A 7.500 11/10/2023 USD 73.375
OGX Austria GmbH 8.500 6/1/2018 USD 0.019
Land Berlin 0.625 1/26/2052 EUR 49.880
Phosagro OAO Via Phosag 2.600 9/16/2028 USD 64.421
Soc Nationale SNCF SACA 3.190 4/19/2041 AUD 71.895
Land Thueringen 0.375 12/1/2051 EUR 45.248
Malta Government Bond 2.400 8/13/2052 EUR 68.907
Single Platform Investm 1.850 11/5/2040 EUR 71.762
Single Platform Investm 0.915 2/15/2043 EUR 57.809
DZ Bank AG Deutsche Zen 1.840 12/21/2048 EUR 68.860
Quintet Private Bank Eu 3.650 11/13/2023 EUR 3.080
State of Brandenburg 0.375 1/29/2035 EUR 72.583
State of Bremen 0.550 2/4/2050 EUR 49.802
Comunidad Foral de Nava 2.100 4/30/2044 EUR 68.988
Deutsche Pfandbriefbank 3.100 9/7/2046 USD 64.664
ASH8 Debt Co UK 1 PLC 3.651 12/31/2055 GBP 70.558
Spain Government Bond 1.900 10/31/2052 EUR 63.080
Regiao Autonoma Madeira 1.141 12/4/2034 EUR 71.955
State of Brandenburg 0.300 10/4/2049 EUR 46.623
Single Platform Investm 1.610 2/15/2043 EUR 66.884
State of Saarland 0.050 11/5/2040 EUR 56.828
HYPO NOE Landesbank fue 1.605 8/23/2046 EUR 71.624
Aareal Bank AG 0.870 6/28/2029 EUR 74.545
Wessex Water Services F 1.250 1/12/2036 GBP 57.106
Citigroup Global Market 12.379 11/13/2023 SEK 72.340
Ukraine Government Inte 12.520 5/13/2026 UAH 58.821
Republic of Poland Gove 1.750 4/25/2032 PLN 73.717
BCP V Modular Services 6.750 11/30/2029 EUR 73.826
Ukraine Government Bond 19.250 8/7/2024 UAH 72.762
Yorkshire Water Service 1.758 2/1/2054 GBP 74.444
Bazalgette Finance Plc 0.010 8/5/2036 GBP 70.691
Jain International Trad 7.125 2/1/2022 USD 22.000
Del Monte Finance Luxem 6.625 5/24/2006 EUR 1.000
Ukraine Government Inte 9.990 5/22/2024 UAH 68.277
Norske Skog Holding AS 8.000 2/24/2021 EUR 0.006
HSBC Bank PLC 0.500 6/23/2027 MXN 66.635
ABN AMRO Bank NV 0.450 12/12/2036 EUR 68.205
Severn Trent Utilities 1.457 8/1/2058 GBP 71.083
Cirio Finanziaria SpA 8.000 12/21/2005 EUR 0.478
Finmek International SA 7.000 12/3/2004 EUR 2.193
Communaute Francaise de 1.120 7/19/2038 EUR 66.390
NRW Bank 0.650 7/20/2037 EUR 68.775
State of Saarland 0.500 3/15/2051 EUR 48.390
Autonomous Region of th 1.095 9/27/2036 EUR 67.785
Metinvest BV 5.625 6/17/2025 EUR 69.563
JAB Holdings BV 4.500 4/8/2052 USD 74.133
Bayerische Landesbank 0.770 2/27/2032 EUR 74.368
Cie de Saint-Gobain SA 1.875 5/3/2035 EUR 74.440
United Utilities Water 0.010 9/30/2036 GBP 71.805
Nordea Kredit Realkredi 0.500 10/1/2050 DKK 64.447
Yorkshire Water Service 1.709 2/1/2058 GBP 74.643
Eurogrid GmbH 0.875 11/20/2040 EUR 60.965
Alpine Holding GmbH 5.250 6/10/2016 EUR 0.372
State of Lower Saxony 0.250 4/15/2036 EUR 68.561
Autonomous Community of 1.850 5/13/2061 EUR 52.835
Single Platform Investm 1.425 5/25/2052 EUR 57.821
Caisse des Depots et Co 0.398 12/15/2050 EUR 41.687
Region de Bruxelles-Cap 0.765 7/15/2052 EUR 44.555
Republic of Austria Gov 2.100 9/20/2117 EUR 68.672
State of Hesse 0.227 8/20/2049 EUR 48.169
Russian Agricultural Ba 8.500 10/16/2023 USD 26.135
Thames Water Utilities 1.846 8/28/2047 GBP 69.853
National Grid Electrici 1.608 8/24/2040 GBP 49.757
Morhomes PLC 2.508 2/19/2051 GBP 52.096
La Financiere Atalian S 6.625 5/15/2025 GBP 67.843
DLR Kredit A/S 1.000 10/1/2053 DKK 67.753
DAH Holding GmbH 7.250 9/28/2018 EUR 0.718
UBS AG/London 1.600 4/18/2049 EUR 61.156
United Utilities Water 1.556 10/25/2056 GBP 72.598
Region de Bruxelles-Cap 1.400 3/11/2054 EUR 51.782
Boparan Finance PLC 7.625 11/30/2025 GBP 67.066
Deutsche Telekom AG 3.500 4/15/2041 AUD 70.633
GN Store Nord AS 3.200 11/26/2036 GBP 70.416
Region de Bruxelles-Cap 1.813 1/22/2048 EUR 67.172
Single Platform Investm 1.340 5/10/2044 EUR 56.798
Malta Government Bond 1.400 8/20/2046 EUR 59.593
State Agency of Roads o 6.250 6/24/2030 USD 27.313
Kingdom of Belgium Gove 1.170 5/12/2121 EUR 38.443
Realkredit Danmark A/S 0.500 10/1/2053 DKK 65.334
Aareal Bank AG 2.658 5/13/2033 EUR 73.987
ABN AMRO Bank NV 0.500 12/12/2039 EUR 63.077
Severn Trent Utilities 1.589 2/1/2067 GBP 74.809
State of Lower Austria 0.550 11/13/2080 EUR 28.523
State Savings Bank of U 12.700 1/19/2024 USD 34.250
Ahtium PLC 9.750 4/4/2017 EUR 0.726
Peine GmbH 2.000 7/5/2023 EUR 44.500
Berlin Hyp AG 0.030 7/22/2030 EUR 74.298
Single Platform Investm 1.370 7/25/2053 EUR 57.048
Credit Agricole SA 6.750 9/29/2042 AUD 74.074
Region Auvergne-Rhone-A 0.892 10/21/2041 EUR 60.379
Land Thueringen 0.250 3/5/2040 EUR 60.018
DNB Bank ASA 1.185 1/14/2038 EUR 67.879
Republic of Austria Gov 0.100 7/10/2040 EUR 58.776
Banque Federative du Cr 0.376 10/15/2031 EUR 70.904
Goldman Sachs Internati 16.288 3/17/2027 USD 51.630
Citigroup Global Market 8.200 3/21/2024 SEK 60.320
Region of Ile de France 0.610 7/2/2040 EUR 60.891
Deutsche Bahn Finance G 3.100 5/20/2041 AUD 69.145
Banque Federative du Cr 1.590 2/5/2031 USD 72.983
Single Platform Investm 1.460 5/25/2052 EUR 58.692
Richter Gedeon Nyrt 1.750 6/4/2031 HUF 72.500
Department of L'Eure Fr 0.643 8/31/2041 EUR 56.321
State of Brandenburg 0.050 8/10/2040 EUR 56.822
Orpea SA 3.144 12/22/2025 EUR 28.234
National Grid Electrici 1.584 7/28/2056 GBP 70.631
State of Rhineland-Pala 1.500 4/25/2052 EUR 65.558
Joh Friedrich Behrens A 7.750 11/11/2020 EUR 8.112
Republic of Belarus Int 6.378 2/24/2031 USD 40.632
BNG Bank NV 0.630 7/11/2067 EUR 37.510
DNB Boligkreditt AS 0.980 6/20/2044 EUR 63.465
Alliander NV 1.125 4/8/2035 EUR 70.293
Barclays Bank PLC 0.779 11/15/2024 USD 10.000
Agence Francaise de Dev 2.302 10/25/2044 USD 62.910
Nederlandse Waterschaps 0.436 10/22/2040 EUR 60.691
HSE Finance Sarl 5.625 10/15/2026 EUR 53.909
Single Platform Investm 1.270 5/15/2035 EUR 68.880
Kreditanstalt fuer Wied 0.980 2/9/2042 EUR 67.753
Saechsische Aufbaubank- 0.300 2/18/2042 EUR 54.378
Autonomous Community of 1.655 10/31/2050 EUR 57.771
Ukraine Government Bond 4.000 1/25/2024 USD 72.671
State of North Rhine-We 1.467 6/12/2045 EUR 69.948
Ukraine Government Inte 9.790 5/26/2027 UAH 53.822
Agrokor dd 9.125 2/1/2020 EUR 15.000
Aareal Bank AG 0.570 8/7/2029 EUR 72.760
Severn Trent Utilities 1.566 2/1/2058 GBP 71.714
Veneto Banca SpA 6.411 EUR 0.345
COFIDUR SA 0.100 12/31/2024 EUR 30.700
Aareal Bank AG 2.020 11/20/2034 EUR 65.723
Anglian Water Services 0.850 12/23/2040 JPY 72.600
Land Berlin 0.350 9/9/2050 EUR 46.313
Land Thueringen 0.375 11/14/2034 EUR 72.632
Ile-de-France Mobilites 1.586 2/23/2052 EUR 61.736
Hemso Fastighets AB 3.050 1/18/2038 SEK 73.724
Grand Delta Habitat 1.820 3/18/2050 EUR 60.802
NRW Bank 1.400 3/19/2070 EUR 55.217
Ukraine Government Inte 14.000 6/26/2024 UAH 72.276
DZ Bank AG Deutsche Zen 14.100 6/28/2024 EUR 71.050
Landesbank Baden-Wuertt 0.280 9/1/2031 EUR 72.050
Bulgaria Steel Finance 12.000 5/4/2013 EUR 0.216
CNH Industrial Finance 2.200 7/15/2039 EUR 71.277
Siemens Financieringsma 3.300 9/15/2046 USD 72.758
State of Bremen 0.936 9/28/2046 EUR 62.358
Depfa Funding II LP 6.500 EUR 60.136
Credit Bank of Moscow V 7.625 USD 26.434
Raiffeisen Landesbank V 0.250 3/4/2036 EUR 66.846
CPI Hungary Investments 2.250 8/7/2030 HUF 59.000
VTB Bank PJSC Via VTB E 9.500 USD 17.644
Deutsche Wohnen SE 1.700 12/5/2036 EUR 62.070
Yorkshire Water Service 1.460 8/1/2056 GBP 69.968
A-TEC Industries AG 2.750 5/10/2014 EUR 0.100
Basque Government 1.000 10/31/2050 EUR 47.823
Norwegian Air Shuttle A 7.500 11/10/2023 USD 73.375
International Bank of A 8.250 10/9/2024 USD 60.375
Wirtschafts- und Infras 0.500 8/28/2046 EUR 50.973
Bpifrance 1.046 5/25/2050 EUR 50.097
Cooperatieve Rabobank U 1.460 6/1/2040 EUR 73.420
Single Platform Investm 0.950 7/25/2047 EUR 47.043
Republic of Ireland Int 0.995 2/24/2121 EUR 35.389
Region de Bruxelles-Cap 0.592 12/10/2061 EUR 32.700
Stonewater Funding PLC 3.375 11/2/2045 GBP 71.720
Single Platform Investm 1.600 2/15/2041 EUR 68.902
Novolipetsk Steel Via S 1.450 6/2/2026 EUR 69.463
Single Platform Investm 1.250 8/15/2051 EUR 56.535
Norske Skog Holding AS 8.000 2/24/2021 EUR 0.006
Nederlandse Waterschaps 1.900 1/31/2035 AUD 69.879
Free and Hanseatic City 0.010 11/5/2035 EUR 67.305
Ministeries Van de Vlaa 1.875 6/2/2042 EUR 74.777
Bibby Offshore Services 7.500 6/15/2021 GBP 11.625
Region de Bruxelles-Cap 0.808 1/31/2050 EUR 46.146
getgoods.de AG 7.750 10/2/2017 EUR 0.527
Region de Bruxelles-Cap 0.944 6/22/2057 EUR 40.069
Cooperatieve Rabobank U 0.500 12/29/2027 MXN 63.834
TBI Bank EAD 5.250 7/30/2031 EUR 50.901
Cooperatieve Rabobank U 1.850 3/29/2049 EUR 58.993
Department of L'Eure Fr 1.110 6/18/2039 EUR 68.688
Kreditanstalt fuer Wied 1.000 10/20/2050 EUR 59.236
Credit Bank of Moscow V 8.875 USD 13.056
Kuntarahoitus Oyj 0.448 3/19/2040 EUR 61.158
Concessio Estacions Aer 3.520 12/31/2037 EUR 68.932
Grupo Antolin-Irausa SA 3.500 4/30/2028 EUR 74.000
Ukraine Government Inte 14.000 6/26/2024 UAH 72.276
GB Social Housing PLC 3.814 4/9/2047 GBP 66.269
Region de Bruxelles-Cap 0.283 10/24/2033 EUR 69.122
DLR Kredit A/S 1.000 10/1/2053 DKK 72.604
BPCE SFH SA 0.500 1/23/2035 EUR 71.792
Single Platform Investm 1.800 7/25/2053 EUR 64.827
Deutsche Bank AG 1.725 1/16/2045 EUR 41.013
Kuntarahoitus Oyj 1.150 4/1/2051 EUR 64.748
GTC Magyarorszag Zrt 2.600 3/17/2031 HUF 73.420
Rena GmbH 8.250 7/11/2018 EUR 0.054
Hemso Fastighets AB 2.975 10/25/2038 SEK 72.175
Landesbank Baden-Wuertt 0.900 5/28/2035 EUR 68.077
Department of Gironde F 0.765 4/29/2036 EUR 67.287
Region Wallonne Belgium 1.805 1/24/2040 EUR 71.871
VTB Bank OJSC Via VTB C 6.250 6/30/2035 USD 23.633
DekaBank Deutsche Giroz 0.400 1/29/2035 EUR 72.448
Region Wallonne Belgium 1.305 9/29/2041 EUR 63.469
NatWest Markets PLC 1.250 12/4/2034 EUR 69.215
ALROSA Finance SA 4.650 4/9/2024 USD 10.162
Kommuninvest I Sverige 2.000 10/21/2040 SEK 73.739
Kardan NV 6.325 2/21/2021 ILS 10.000
Ministeries Van de Vlaa 0.634 11/19/2060 EUR 35.751
Barclays Bank PLC 0.745 10/31/2024 USD 9.857
Comunidad Foral de Nava 0.550 10/22/2035 EUR 67.698
Steilmann SE 6.750 6/27/2017 EUR 2.184
Basler Kantonalbank 16.000 6/14/2024 CHF 66.010
Danske Bank A/S 0.910 10/17/2039 JPY 70.899
Credit Agricole SA 4.400 2/24/2042 AUD 60.256
Mercedes-Benz Manufactu 1.500 3/16/2027 HUF 75.000
Societe Generale SA 3.310 11/29/2033 AUD 70.278
Deutsche Bank AG 2.330 2/11/2043 EUR 69.488
Autonomous Community of 1.515 6/21/2051 EUR 54.033
OP Corporate Bank plc 1.400 3/16/2035 EUR 71.125
Batigere Grand Est SAHL 1.600 11/14/2044 EUR 61.157
MFB Magyar Fejlesztesi 2.900 10/22/2031 HUF 70.428
Thomas Cook Finance 2 P 3.875 7/15/2023 EUR 0.659
National Grid Electrici 1.541 12/1/2056 GBP 70.815
Air Berlin Finance BV 8.500 3/6/2019 EUR 0.278
Spain Government Bond 1.200 10/31/2040 EUR 66.007
Malta Government Bond 2.000 7/10/2051 EUR 63.197
United Kingdom Gilt 1.250 7/31/2051 GBP 47.638
UBS AG/London 17.500 3/15/2024 CHF 45.400
Vasakronan AB 2.130 5/27/2041 SEK 64.049
Deutsche Pfandbriefbank 1.000 12/2/2030 EUR 73.374
Kingdom of Belgium Gove 0.675 7/7/2080 EUR 33.283
Landesbank Hessen-Thuer 4.375 3/30/2042 USD 63.453
Societe Generale SA 8.510 6/6/2024 USD 72.500
Assistance Publique Hop 0.634 8/27/2045 EUR 52.381
BNG Bank NV 10.010 6/17/2025 TRY 66.784
JAB Holdings BV 2.000 12/19/2039 EUR 70.167
Commerzbank AG 0.850 8/15/2029 EUR 74.972
Cie Generale de Navigat 0.350 12/29/2056 CHF 66.607
German Pellets GmbH 7.250 11/27/2019 EUR 0.815
Department of Val d'Ois 0.735 7/3/2040 EUR 62.230
DZ Bank AG Deutsche Zen 1.010 12/30/2030 EUR 74.470
Deutsche Telekom AG 4.125 7/23/2049 USD 72.113
A-TEC Industries AG 5.750 11/2/2010 EUR 0.100
Wirtschafts- und Infras 0.101 9/8/2033 EUR 72.979
Cooperatieve Rabobank U 2.090 12/27/2047 EUR 63.803
Caisse des Depots et Co 1.787 1/30/2048 EUR 66.329
Ville de Paris 0.831 2/23/2056 EUR 42.048
Kingdom of Belgium Gove 0.650 6/22/2071 EUR 38.520
United Utilities Water 0.359 10/5/2048 GBP 52.397
Caisse des Depots et Co 1.015 7/22/2050 EUR 51.991
Societe Generale SA 1.113 7/17/2031 EUR 74.736
Prosus NV 2.031 8/3/2032 EUR 70.776
Single Platform Investm 0.745 2/15/2047 EUR 44.033
Meta Wolf AG 6.750 3/10/2005 DEM 0.110
Credit Bank of Moscow V 4.700 1/29/2025 USD 26.156
Corporate Commercial Ba 8.250 8/8/2014 USD 0.308
Nordea Kredit Realkredi 0.500 10/1/2053 DKK 62.064
Praktiker AG 5.875 2/10/2016 EUR 0.001
Republic of Ireland Int 0.740 9/22/2078 EUR 37.868
Finance and Credit Bank 9.250 1/25/2019 USD 0.001
Malta Government Bond 1.800 8/28/2051 EUR 60.136
Banco Santander SA 1.840 7/20/2033 EUR 72.771
Credit Bank of Moscow V 3.875 9/21/2026 USD 34.566
Free and Hanseatic City 0.300 9/16/2050 EUR 45.328
Lloyds Bank PLC 2.580 3/28/2039 SEK 70.031
Region Wallonne Belgium 1.150 9/2/2120 EUR 32.779
Societe Du Grand Paris 2.100 2/14/2069 EUR 59.287
Credit Agricole SA 3.000 1/28/2041 AUD 49.289
Single Platform Investm 1.442 7/25/2053 EUR 58.669
Norwegian Air Shuttle A 6.860 NOK 74.000
Banque Internationale a 0.510 2/10/2031 EUR 71.931
Jyske Realkredit A/S 1.000 10/1/2056 DKK 66.740
Societe Generale SA 18.800 8/31/2023 USD 18.500
MBH Mortgage Bank Co PL 3.000 1/28/2036 HUF 54.650
NRW Bank 0.210 8/31/2033 EUR 74.230
Norske Skogindustrier A 7.125 10/15/2033 USD 0.010
Turkey Government Inter 5.750 5/11/2047 USD 70.585
Region Wallonne Belgium 0.050 10/26/2032 EUR 70.953
Single Platform Investm 0.559 2/15/2047 EUR 49.072
Batigere Grand Est SAHL 1.485 10/25/2039 EUR 66.290
DLR Kredit A/S 0.500 10/1/2050 DKK 68.962
Landesbank Hessen-Thuer 0.650 10/18/2034 EUR 66.542
Single Platform Investm 1.870 11/21/2044 EUR 58.872
Nordea Bank Abp 7.500 7/20/2027 SEK 74.875
Solon SE 1.375 12/6/2012 EUR 0.745
Societe Generale SA 1.137 1/26/2037 EUR 68.616
KTG Agrar SE 7.250 10/15/2019 EUR 2.001
Grand City Properties S 2.500 6/27/2039 EUR 57.852
LFA Foerderbank Bayern 0.125 9/30/2038 EUR 61.363
Banco Santander SA 1.000 10/1/2033 EUR 73.695
Agence France Locale 2.550 3/20/2036 AUD 72.481
Ville de Paris 0.750 11/30/2041 EUR 60.595
SCC Power PLC 6.000 12/31/2028 USD 50.878
City of Zurich Switzerl 0.250 11/24/2051 CHF 69.632
UniCredit SpA 0.725 11/27/2030 EUR 68.785
Autonomous Community of 1.744 7/1/2061 EUR 50.061
DZ Bank AG Deutsche Zen 1.980 12/29/2031 EUR 73.000
National Grid Electrici 3.350 6/10/2036 AUD 74.259
Credito Padano Banca di 3.100 EUR 36.366
VTB Bank OJSC Via VTB C 6.250 6/30/2035 USD 23.633
Ministeries Van de Vlaa 1.095 6/3/2055 EUR 47.520
Municipality of Eindhov 1.826 5/30/2047 EUR 73.726
Bayerische Landesbodenk 0.030 10/22/2035 EUR 67.214
Golfino AG 8.000 11/18/2023 EUR 0.200
Municipality of Arnhem 0.460 9/20/2049 EUR 49.030
Caisse Francaise de Fin 1.640 7/10/2048 EUR 68.144
Severn Trent Utilities 1.399 2/9/2057 GBP 69.260
Region Auvergne-Rhone-A 1.090 4/8/2037 EUR 70.957
SNCF Reseau 1.425 8/14/2119 EUR 36.852
Severn Trent Utilities 1.399 2/9/2057 GBP 68.598
Ile-de-France Mobilites 0.200 11/16/2035 EUR 66.803
Hamburg Commercial Bank 2.597 2/1/2036 EUR 60.080
Portugal Telecom Intern 6.250 7/26/2016 EUR 0.285
Assistance Publique Hop 1.099 4/6/2071 EUR 38.640
Italy Buoni Poliennali 0.950 3/1/2037 EUR 65.735
BOA Offshore AS 0.409 7/17/2047 NOK 4.213
Wingholding Zrt 3.000 9/22/2031 HUF 64.000
Single Platform Investm 1.240 5/25/2052 EUR 57.571
Single Platform Investm 1.640 2/15/2047 EUR 64.088
Region de Bruxelles-Cap 1.040 5/3/2061 EUR 39.844
Bayerische Landesbank 3.180 2/16/2038 EUR 64.083
Republic of Belarus Int 6.200 2/28/2030 USD 40.556
SG Issuer SA 8.410 1/20/2027 SEK 62.850
GTC Magyarorszag Zrt 2.250 12/7/2030 HUF 72.210
Department of Val d'Ois 0.390 11/18/2041 EUR 55.254
Societe Generale SA 2.200 12/17/2040 USD 62.955
Kreditanstalt fuer Wied 0.699 10/20/2036 EUR 72.982
Jyske Realkredit A/S 0.500 10/1/2043 DKK 74.937
Deutsche Bank Luxembour 2.386 4/27/2029 EUR 69.726
Department of Val d'Ois 0.929 5/19/2041 EUR 63.061
NRW Bank 0.185 8/17/2033 EUR 74.295
Barclays Bank PLC 2.300 8/31/2036 USD 63.578
J&T Banka AS 7.000 EUR 70.693
Kommunekredit 0.342 9/1/2042 EUR 57.083
Natixis SA 3.600 11/16/2041 AUD 64.367
Sequa Petroleum NV 5.000 4/29/2020 USD 30.250
Proximus SADP 1.500 5/14/2040 EUR 67.796
Elia Transmission Belgi 1.560 1/30/2044 EUR 72.445
Land Berlin 0.125 6/4/2035 EUR 69.368
Deutsche Pfandbriefbank 0.765 9/12/2036 EUR 54.765
Erdoel-Lagergesellschaf 1.281 9/30/2036 EUR 72.456
Deutsche Bank AG 1.750 10/30/2028 USD 74.700
Communaute Francaise de 1.725 4/23/2049 EUR 66.983
Intesa Sanpaolo SpA 4.700 9/23/2049 USD 66.107
Ukraine Government Bond 19.590 12/4/2024 UAH 70.929
Erste Group Bank AG 1.540 3/18/2034 EUR 71.062
Kommuninvest I Sverige 2.000 10/21/2039 SEK 74.206
Centre Hospitalier de M 1.580 2/11/2061 EUR 69.622
Single Platform Investm 1.450 9/14/2040 EUR 67.771
Societe Generale SA 0.690 4/21/2033 EUR 71.374
Parnassia Groep BV 1.470 12/3/2046 EUR 60.749
Parnassia Groep BV 1.260 12/3/2046 EUR 73.511
Region Occitanie 0.728 11/16/2037 EUR 65.515
DZ Bank AG Deutsche Zen 0.950 12/30/2030 EUR 74.450
Vontobel Financial Prod 9.200 6/28/2024 EUR 72.360
Kreditanstalt fuer Wied 0.980 6/28/2051 EUR 58.574
UBS AG/London 7.100 11/22/2023 USD 9.900
Ville de Paris 0.850 8/4/2051 EUR 48.161
Region de Bruxelles-Cap 0.910 1/31/2053 EUR 45.729
Minicentrales Dos SA 0.010 6/6/2047 EUR 58.439
Muenchener Hypothekenba 0.250 10/31/2044 CHF 70.185
Hemso Fastighets AB 1.130 10/31/2039 EUR 59.875
Single Platform Investm 1.150 5/25/2066 EUR 44.531
Landesbank Baden-Wuertt 0.380 11/18/2030 EUR 74.769
Vilogia SA d'HLM 1.500 8/7/2034 EUR 73.993
BNG Bank NV 2.020 8/7/2058 EUR 74.477
Barclays Bank PLC 7.350 4/11/2024 USD 9.897
Assistance Publique Hop 0.490 9/30/2040 EUR 58.734
ESB Finance DAC 2.000 4/17/2044 EUR 68.480
Deutsche Bank AG/London 0.500 8/23/2038 MXN 21.687
SAir Group 2.125 11/4/2004 CHF 10.125
Scottish Hydro Electric 1.429 10/20/2056 GBP 68.106
Hungary Government Inte 1.500 11/17/2050 EUR 51.353
Havenbedrijf Rotterdam 1.100 3/23/2051 EUR 57.378
Sovcombank Via SovCom C 8.000 4/7/2030 USD 6.581
State of Bremen 1.000 5/27/2039 EUR 70.491
Soc Nationale SNCF SACA 2.820 4/28/2036 AUD 74.949
Romanian Government Int 2.000 4/14/2033 EUR 70.261
MOL Hungarian Oil & Gas 1.900 4/12/2031 HUF 62.300
Romanian Government Int 3.375 2/8/2038 EUR 72.460
HSBC Continental Europe 2.220 1/24/2048 EUR 67.756
DNB Boligkreditt AS 1.452 1/19/2038 EUR 74.577
Hemso Fastighets AB 2.615 11/30/2043 EUR 63.508
Banque et Caisse d'Epar 1.230 4/26/2046 EUR 66.946
Banco Santander SA 0.010 10/1/2032 EUR 68.381
Kingdom of Belgium Gove 2.750 6/10/2071 USD 61.814
Ukraine Government Inte 7.375 9/25/2034 USD 27.417
Muenchener Hypothekenba 1.666 8/7/2042 EUR 74.704
Deutsche Bank AG 0.250 8/23/2028 EUR 68.310
Depfa Funding III LP 3.062 EUR 51.243
Caisse des Depots et Co 1.630 12/28/2046 EUR 64.548
Hungary Government Bond 3.000 4/25/2041 HUF 57.722
SNCF Reseau 2.622 9/24/2049 USD 64.566
United Utilities Water 0.010 12/9/2036 GBP 70.670
Barclays Bank PLC 2.500 12/29/2032 USD 74.611
State of Brandenburg 0.750 8/8/2036 EUR 72.915
Belfius Bank SA 0.125 6/19/2034 EUR 70.664
Single Platform Investm 2.230 3/17/2039 NOK 65.266
Credit Agricole Corpora 3.200 3/11/2036 AUD 73.402
Sanctuary Capital PLC 2.481 11/12/2037 GBP 66.938
Junta de Castilla y Leo 1.270 10/31/2044 EUR 58.624
Landesbank Baden-Wuertt 0.560 9/22/2033 EUR 68.949
Communaute Francaise de 1.010 7/19/2051 EUR 50.129
City of Amsterdam Nethe 1.359 2/26/2044 EUR 69.264
SpareBank 1 SR-Bank ASA 1.650 2/24/2042 EUR 61.143
Grand Delta Habitat 1.425 2/26/2048 EUR 55.980
Land Berlin 0.150 2/22/2036 EUR 67.825
Cooperatieve Rabobank U 2.481 2/26/2036 AUD 70.400
Single Platform Investm 1.130 5/1/2030 EUR 63.725
Credit Agricole Corpora 15.000 6/18/2026 TRY 71.801
Single Platform Investm 1.510 2/13/2043 EUR 65.263
UBS AG/London 16.500 7/22/2024 CHF 70.400
DZ Bank AG Deutsche Zen 1.850 2/19/2049 EUR 69.526
CDC Habitat SEM 1.700 3/21/2039 EUR 71.182
MBH Mortgage Bank Co PL 3.000 8/21/2030 HUF 68.650
NORD/LB Luxembourg SA C 0.542 9/30/2037 EUR 64.995
Land Berlin 0.500 6/19/2047 EUR 51.435
DZ Bank AG Deutsche Zen 1.000 2/18/2032 EUR 65.532
Erdoel-Lagergesellschaf 1.200 6/4/2043 EUR 61.989
Banco Espirito Santo SA 6.900 6/28/2024 EUR 19.241
Swedbank Hypotek AB 1.500 7/13/2048 EUR 68.939
CaixaBank SA 0.150 11/22/2027 EUR 74.187
Kingdom of Belgium Gove 0.558 9/24/2077 EUR 31.521
City of St Gallen 0.140 9/16/2044 CHF 72.220
Itas Istituto Trentino 5.000 12/17/2031 EUR 60.814
Autostrade per l'Italia 3.625 6/9/2038 EUR 73.906
Kommunekredit 0.100 9/30/2033 DKK 71.031
Natixis SA 2.420 9/29/2035 AUD 63.641
Department of Loiret Fr 0.500 10/30/2042 EUR 54.967
Credit Agricole Corpora 0.100 10/21/2030 EUR 73.476
Alpine Holding GmbH 6.000 5/22/2017 EUR 0.372
German Pellets GmbH 7.250 4/1/2016 EUR 0.815
Grupo Isolux Corsan SA 6.000 12/30/2021 EUR 0.673
Nederlandse Waterschaps 0.964 6/11/2059 EUR 51.408
Region Wallonne Belgium 1.135 10/10/2069 EUR 43.475
Landwirtschaftliche Ren 0.210 9/30/2033 EUR 74.536
Assistance Publique Hop 1.073 4/16/2045 EUR 59.249
Single Platform Investm 2.600 1/19/2038 NOK 69.918
Belfius Bank SA 1.561 4/27/2043 EUR 71.770
Deutsche Bahn Finance G 0.232 3/17/2032 EUR 73.909
Kuntarahoitus Oyj 1.400 3/5/2061 EUR 64.872
Landesbank Hessen-Thuer 0.550 4/1/2031 EUR 73.922
Landesbank Hessen-Thuer 1.250 4/7/2037 EUR 70.100
Societe Generale SA 0.831 11/25/2031 EUR 69.151
Grand Delta Habitat 1.630 3/6/2045 EUR 61.244
Grenke Finance PLC 0.819 2/15/2030 EUR 68.461
Credit Suisse AG/London 16.500 9/7/2023 CHF 32.840
Agence Francaise de Dev 1.833 2/26/2052 EUR 66.766
Credito Padano Banca di 3.100 EUR 36.103
Sovcombank Via SovCom C 3.400 1/26/2025 USD 2.610
SNCF Reseau 1.475 3/30/2065 EUR 48.897
Pongs & Zahn AG 8.500 11/1/2014 EUR 0.002
Purple Protected Asset 1.580 5/25/2060 EUR 39.581
NRW Bank 0.106 8/17/2050 EUR 41.966
DZ Bank AG Deutsche Zen 1.000 2/13/2042 EUR 64.881
Agrokor dd 8.875 2/1/2020 USD 15.000
Nederlandse Waterschaps 0.750 10/4/2041 EUR 63.226
Landesbank Baden-Wuertt 0.690 10/8/2035 EUR 65.410
SG Issuer SA 0.350 11/15/2023 EUR 31.260
Mifa Mitteldeutsche Fah 7.500 8/12/2018 EUR 1.800
Affinity Water Finance 2.699 11/22/2033 GBP 69.638
NRW Bank 1.000 2/26/2050 EUR 59.385
Thames Water Utilities 1.819 8/28/2049 GBP 71.829
SAir Group 6.250 4/12/2005 CHF 10.172
KPNQwest NV 8.875 2/1/2008 EUR 0.507
La Veggia Finance SA 7.125 11/14/2004 EUR 0.301
Nationwide Building Soc 1.573 5/7/2041 EUR 73.216
Banco Espirito Santo SA 10.000 12/6/2021 EUR 0.397
Swedbank Hypotek AB 1.490 8/15/2038 EUR 74.642
Societe Generale SFH SA 0.570 3/15/2036 EUR 70.362
Assistance Publique Hop 0.666 3/19/2040 EUR 61.957
Societe Generale SA 10.000 6/28/2034 USD 72.500
Raiffeisen Landesbank V 0.375 11/13/2034 EUR 71.269
Credit Agricole Corpora 3.100 4/28/2041 AUD 64.014
DekaBank Deutsche Giroz 0.230 4/22/2031 EUR 72.977
HSE Finance Sarl 9.531 10/15/2026 EUR 57.519
Ministeries Van de Vlaa 1.874 3/28/2058 EUR 58.264
Region de Bruxelles-Cap 1.620 2/8/2044 EUR 66.275
ING Groep NV 0.975 2/14/2034 EUR 66.820
State of North Rhine-We 1.850 3/18/2089 EUR 55.058
Societe Du Grand Paris 0.576 10/29/2052 EUR 40.052
Soc Nationale SNCF SACA 1.400 5/18/2120 EUR 32.825
Vasakronan AB 1.770 10/26/2033 NOK 67.665
Region Auvergne-Rhone-A 0.250 10/23/2034 EUR 68.548
Caisse Francaise de Fin 0.726 10/29/2039 EUR 63.645
Oberoesterreichische La 1.014 9/16/2049 EUR 39.968
Landesbank Hessen-Thuer 0.600 1/17/2035 EUR 73.500
Credit Bank of Moscow V 7.121 6/25/2024 USD 23.882
Landesbank Saar 0.540 11/18/2033 EUR 68.302
Rio Forte Investments S 4.000 7/22/2014 EUR 2.114
FLUVIUS System Operator 0.810 4/8/2033 EUR 69.828
Bilt Paper BV 10.360 USD 1.313
Single Platform Investm 2.000 2/1/2039 EUR 74.232
Kreditanstalt fuer Wied 1.208 3/10/2051 EUR 62.979
Nykredit Realkredit AS 1.182 1/17/2034 EUR 71.814
Regie Autonome des Tran 0.875 8/18/2080 EUR 34.914
BNG Bank NV 1.897 10/30/2048 EUR 71.484
Muenchener Hypothekenba 1.000 5/7/2035 EUR 69.842
Landeskreditbank Baden- 2.500 5/21/2036 AUD 69.677
Single Platform Investm 0.656 9/20/2050 EUR 50.472
NRW Bank 1.000 6/24/2051 EUR 58.114
Vajda-Papir Gyarto Kere 3.500 5/17/2031 HUF 70.900
Anselma Issuer SA 1.574 12/31/2038 EUR 35.230
Single Platform Investm 0.830 8/6/2041 EUR 57.800
DZ Bank AG Deutsche Zen 0.190 1/14/2031 EUR 72.100
Soc Nationale SNCF SACA 2.503 1/14/2041 AUD 64.526
Assistance Publique Hop 0.630 7/30/2042 EUR 57.133
Nederlandse Waterschaps 0.190 11/2/2050 EUR 43.624
Uliving@Essex2 Issuerco 0.100 8/31/2063 GBP 60.155
Single Platform Investm 1.083 2/15/2041 EUR 62.009
Municipality of Arnhem 0.605 2/24/2040 EUR 64.523
Assistance Publique Hop 1.502 5/9/2044 EUR 67.550
Raiffeisen Bank zrt 11.597 EUR 67.884
Vasakronan AB 2.256 4/12/2044 EUR 71.912
Ukraine Government Bond 8.750 4/20/2033 UAH 25.894
National Grid Electrici 1.541 12/1/2056 GBP 70.043
Kommunalkredit Austria 0.570 9/15/2037 EUR 65.314
Suek Securities DAC 3.375 9/15/2026 USD 69.099
Severn Trent Utilities 1.523 8/1/2058 GBP 72.443
Barclays Bank PLC 1.637 4/12/2039 EUR 74.850
Societe Publique d'Admi 2.003 9/27/2044 EUR 72.302
Deutsche Wohnen SE 2.500 7/21/2034 EUR 72.959
National Grid Electrici 1.541 12/1/2053 GBP 71.011
Region de Bruxelles-Cap 1.286 12/17/2046 EUR 56.024
Aktia Bank Oyj 0.635 10/16/2035 EUR 63.158
SAir Group 4.250 2/2/2007 CHF 10.172
Sairgroup Finance BV 6.625 10/6/2010 EUR 0.250
Communaute Francaise de 0.500 6/27/2046 EUR 48.038
AKB Peresvet ZAO 0.510 8/4/2034 RUB 31.190
ALROSA Finance SA 3.100 6/25/2027 USD 6.629
Aareal Bank AG 1.125 6/28/2030 EUR 72.020
Lloyds Bank PLC 2.170 8/28/2038 EUR 67.909
Cie de Financement Fonc 0.900 7/18/2058 EUR 48.496
Vasakronan AB 2.400 6/20/2044 SEK 65.520
United Kingdom Gilt 0.250 7/31/2031 GBP 72.561
State of North Rhine-We 1.267 9/16/2051 EUR 61.880
Credit Agricole Corpora 2.850 9/15/2051 AUD 53.387
Cooperatieve Rabobank U 2.940 3/11/2036 AUD 74.468
State of Lower Austria 0.815 9/22/2056 EUR 46.413
Nordea Bank Abp 9.370 7/20/2029 SEK 72.330
BNG Bank NV 2.000 9/5/2058 EUR 67.391
Santander Consumer Bank 9.430 NOK 60.954
Norddeutsche Landesbank 0.650 8/26/2031 EUR 73.386
Kreditanstalt fuer Wied 1.171 7/19/2051 EUR 61.395
Banco Santander SA 0.790 9/30/2031 EUR 72.326
Alfa Bank AO Via Alfa B 5.500 10/26/2031 USD 0.617
UniCredit Bank Austria 0.150 4/29/2033 EUR 71.807
Die Schweizerische Post 0.180 12/14/2061 CHF 52.822
EnBW International Fina 2.080 1/21/2041 EUR 64.675
State of North Rhine-We 1.960 1/24/2079 EUR 66.414
Sparebanken Sor 7.970 NOK 73.977
Kreditanstalt fuer Wied 1.175 4/14/2051 EUR 62.386
Quintet Private Bank Eu 6.050 5/26/2026 USD 56.110
ACCIONA Financiacion Fi 1.900 6/28/2034 EUR 70.485
Region de Bruxelles-Cap 1.144 1/14/2056 EUR 46.174
Ukraine Government Bond 12.300 7/3/2024 UAH 71.046
MBH Mortgage Bank Co PL 3.000 10/22/2031 HUF 65.500
Santander Consumer Bank 2.620 6/18/2031 NOK 74.887
City of Amsterdam Nethe 0.490 12/16/2036 EUR 69.087
Credit Agricole Corpora 11.190 3/12/2027 TRY 60.047
Commune de Marseille 1.688 12/6/2038 EUR 74.861
Single Platform Investm 1.120 7/25/2045 JPY 66.556
Premium Green PLC 1.610 9/30/2030 AUD 74.025
Barclays Bank PLC 2.320 1/11/2041 USD 56.647
SG Issuer SA 1.600 6/26/2034 EUR 13.150
State of Lower Austria 0.585 10/11/2049 EUR 48.466
State of Bremen 0.500 6/14/2034 EUR 74.457
Alno AG 8.000 3/21/2019 EUR 17.500
Lloyds Bank PLC 0.500 7/26/2028 MXN 60.067
Agrokor dd 9.125 2/1/2020 EUR 15.000
Erste Group Bank AG 1.230 5/29/2033 EUR 71.166
Citigroup Global Market 1.230 8/20/2039 EUR 62.076
Communaute Francaise de 0.788 8/30/2049 EUR 48.226
United Kingdom Inflatio 0.125 3/22/2068 GBP 71.522
SAir Group 5.500 7/23/2003 CHF 10.172
Ministeries Van de Vlaa 1.392 11/12/2041 EUR 64.743
Erste Group Bank AG 1.400 5/7/2034 EUR 69.369
Erste Group Bank AG 1.380 6/8/2032 EUR 73.964
Ukraine Government Bond 8.630 5/10/2033 UAH 25.527
Magyar Export-Import Ba 2.500 5/23/2029 HUF 70.449
Landesbeteiligungen Bad 1.450 6/15/2046 EUR 57.915
Landesbank Hessen-Thuer 1.000 3/9/2037 EUR 66.700
Department of Bouches d 0.500 10/5/2043 EUR 53.380
Elli Investments Ltd 12.250 6/15/2020 GBP 52.250
Serbia Treasury Bonds 1.500 3/26/2033 EUR 71.255
Credit Agricole Corpora 2.750 12/12/2034 AUD 71.848
Nykredit Realkredit AS 1.000 10/1/2050 DKK 70.386
Purple Protected Asset 1.598 2/5/2061 EUR 63.222
de Volksbank NV 1.552 4/12/2040 EUR 74.836
BPCE SA 2.730 10/5/2036 AUD 62.091
Department of Gironde F 0.846 4/29/2039 EUR 65.860
Cie de Financement Fonc 1.760 11/15/2048 EUR 68.386
Single Platform Investm 1.920 11/5/2040 EUR 65.953
Single Platform Investm 1.233 6/25/2044 EUR 63.940
Italy Buoni Poliennali 0.150 5/15/2051 EUR 61.969
Single Platform Investm 0.815 4/1/2042 EUR 55.514
Single Platform Investm 2.290 7/19/2038 NOK 66.073
Ville de Paris 1.165 6/9/2053 EUR 50.506
Banco Santander SA 2.280 2/28/2039 EUR 71.351
Nationale-Nederlanden B 1.400 3/18/2039 EUR 73.143
HSBC Bank PLC 2.230 9/6/2047 EUR 63.550
Soc Nationale SNCF SACA 2.910 1/27/2051 AUD 61.434
Landesbank Hessen-Thuer 0.350 1/20/2031 EUR 72.780
Assistance Publique Hop 0.791 8/27/2051 EUR 47.131
Societe Generale SA 2.480 7/17/2040 USD 49.979
SALVATOR Vermoegensverw 9.500 EUR 7.900
Vasakronan AB 0.914 5/27/2030 EUR 67.063
Berlin Hyp AG 0.440 10/29/2035 EUR 58.467
Deutsche Bank AG 2.784 4/3/2034 EUR 70.638
BASF SE 1.025 8/13/2048 JPY 66.729
Tonon Luxembourg SA 9.250 1/24/2020 USD 0.795
United Kingdom Gilt 1.500 7/22/2047 GBP 54.793
Department of Bouches d 0.810 12/16/2041 EUR 60.550
Hemso Fastighets AB 2.127 4/18/2039 EUR 62.273
Societe Generale SA 10.000 4/28/2034 USD 67.750
Republic of Ireland Int 1.320 11/28/2119 EUR 38.726
Turkiye Ihracat Kredi B 12.540 9/14/2028 TRY 53.700
DZ HYP AG 1.430 10/26/2046 EUR 61.786
Single Platform Investm 0.932 2/15/2041 EUR 59.437
BNG Bank NV 1.627 4/25/2046 EUR 71.218
Lloyds Bank PLC 2.520 9/4/2038 SEK 69.700
ECM Real Estate Investm 5.000 10/9/2011 EUR 15.375
DZ Bank AG Deutsche Zen 0.760 9/15/2033 EUR 69.916
United Utilities Water 1.591 9/25/2056 GBP 74.981
Autonomous Community of 1.089 10/31/2049 EUR 50.365
Pescanova SA 6.750 3/5/2015 EUR 0.840
Magyar Export-Import Ba 2.000 10/27/2027 HUF 70.063
Societe Wallonne de Fin 0.883 11/21/2044 EUR 52.989
City of Hanover Germany 1.580 11/17/2042 EUR 74.126
BPCE SA 1.980 10/6/2030 AUD 74.115
BPCE SFH SA 1.295 6/8/2037 EUR 74.199
Belfius Bank SA 0.780 7/22/2036 EUR 71.132
New World Resources NV 4.000 10/7/2020 EUR 0.369
Credit Agricole Corpora 10.320 7/22/2026 TRY 62.123
Pescanova SA 5.125 4/20/2017 EUR 1.045
Societe Generale SA 2.700 3/17/2031 AUD 73.287
Ville de Paris 2.017 5/25/2052 EUR 66.926
Single Platform Investm 1.440 7/18/2042 EUR 64.423
Credit Suisse AG/London 20.000 11/29/2024 USD 13.880
Caisse des Depots et Co 1.106 9/30/2049 EUR 53.039
Communaute Francaise de 1.040 7/19/2101 EUR 42.265
Penarian Housing Financ 3.212 6/7/2052 GBP 66.932
Region Occitanie 0.766 10/7/2041 EUR 60.310
Comunidad Foral de Nava 1.450 5/8/2040 EUR 65.891
Citigroup Global Market 1.290 4/29/2025 EUR 74.100
Credit Agricole SA 3.610 4/20/2036 AUD 65.213
Nederlandse Waterschaps 1.650 5/27/2061 EUR 61.955
Single Platform Investm 1.250 10/18/2035 EUR 61.490
Societe Generale SA 3.920 12/9/2036 AUD 69.870
Region de Bruxelles-Cap 1.990 11/30/2050 EUR 62.683
Raiffeisen Switzerland 9.000 2/2/2024 EUR 74.770
Premium Green PLC 1.610 9/30/2030 AUD 74.025
VTB Bank PJSC 10.000 RUB 59.010
Citigroup Global Market 2.000 3/25/2039 EUR 71.004
MKB-Leasing OOO 10.500 10/12/2026 RUB 70.020
DZ Bank AG Deutsche Zen 1.070 10/6/2042 EUR 65.483
Raiffeisenlandesbank Ob 0.998 11/4/2033 EUR 70.405
French Republic Governm 0.500 5/25/2072 EUR 35.738
City of Gothenburg Swed 1.990 2/20/2045 SEK 70.071
Kreditanstalt fuer Wied 0.250 10/6/2036 CAD 51.354
Ministeries Van de Vlaa 1.053 6/3/2050 EUR 51.874
Romanian Government Int 3.375 1/28/2050 EUR 62.184
Grand Delta Habitat 1.500 9/1/2047 EUR 52.026
HPI AG 3.500 EUR 3.010
Landesbank Hessen-Thuer 0.800 2/26/2035 EUR 66.951
Societe Wallonne de Fin 0.948 10/23/2051 EUR 48.872
Deutsche Apotheker-und 1.770 12/21/2046 EUR 72.771
DZ HYP AG 1.033 12/6/2049 EUR 54.278
Norske Skogindustrier A 7.125 10/15/2033 USD 0.010
Landesbank Saar 0.835 2/19/2035 EUR 67.818
VTB Bank PJSC 7.600 4/2/2031 RUB 65.010
Region Wallonne Belgium 0.808 6/24/2038 EUR 64.437
Cooperatieve Rabobank U 3.000 3/25/2036 AUD 74.930
Landesbank Hessen-Thuer 1.000 4/28/2036 EUR 66.056
Royal Schiphol Group NV 3.090 7/1/2034 AUD 72.976
LR Realkredit AS 0.500 10/1/2040 DKK 74.833
Landesbank Saar 0.710 12/6/2035 EUR 65.053
SiC Processing GmbH 7.125 3/1/2016 EUR 0.643
Single Platform Investm 2.040 2/15/2044 EUR 73.198
Assistance Publique Hop 0.683 3/19/2041 EUR 60.249
Caisse des Depots et Co 1.114 9/20/2049 EUR 54.364
Specialfastigheter Sver 1.280 9/20/2049 SEK 51.199
Purple Protected Asset 1.600 9/8/2056 EUR 47.833
BNG Bank NV 2.280 10/17/2048 SEK 72.939
Region Wallonne Belgium 1.246 5/12/2070 EUR 44.241
ING Bank NV 0.335 4/21/2036 EUR 67.556
Norddeutsche Landesbank 0.825 5/18/2033 EUR 69.312
UniCredit Bank AG 1.550 7/18/2031 EUR 70.970
Norddeutsche Landesbank 1.420 4/28/2039 EUR 61.422
Rikshem AB 2.137 1/29/2036 EUR 72.992
Region de Bruxelles-Cap 1.819 1/22/2048 EUR 66.546
Akademiska Hus AB 1.694 12/18/2045 EUR 74.552
NRW Bank 0.600 1/28/2051 EUR 50.828
UBS Group AG 2.300 12/3/2035 AUD 65.633
Orpea SA 2.564 11/30/2027 EUR 27.672
Single Platform Investm 0.946 5/25/2036 EUR 67.758
Landeskreditbank Baden- 0.547 2/18/2041 EUR 62.004
Assistance Publique Hop 1.850 12/21/2046 EUR 68.853
Premium Green PLC 1.630 12/30/2030 AUD 73.229
Landesbank Hessen-Thuer 1.000 8/27/2035 EUR 67.525
Region de Bruxelles-Cap 1.506 2/21/2039 EUR 71.990
HSBC Continental Europe 2.200 2/19/2049 EUR 67.677
Vasakronan AB 0.950 3/22/2039 JPY 71.914
Hypo Tirol Bank AG 1.090 1/21/2041 EUR 55.826
Landesbank Hessen-Thuer 0.850 9/2/2036 EUR 63.899
Landesbank Hessen-Thuer 0.650 9/16/2036 EUR 61.949
Vasakronan AB 1.130 5/27/2042 JPY 67.825
Landesbank Hessen-Thuer 1.450 7/10/2035 EUR 68.300
Republic of Ireland Int 0.810 7/10/2079 EUR 39.370
Lithuania Government In 0.500 7/28/2050 EUR 44.034
Lehman Brothers Treasur 5.666 10/5/2035 EUR 0.100
TransFin-M PAO 10.500 6/28/2027 RUB 60.000
CDC Habitat SEM 1.060 5/22/2036 EUR 69.011
BPCE SA 2.550 6/9/2035 AUD 63.673
Jyske Realkredit A/S 0.500 10/1/2053 DKK 62.094
Grand Delta Habitat 1.500 9/1/2049 EUR 56.180
Single Platform Investm 0.695 6/25/2039 EUR 59.858
Landesbank Hessen-Thuer 1.000 9/24/2035 EUR 67.357
Muenchener Hypothekenba 0.300 9/6/2032 EUR 70.488
Land Thueringen 0.200 9/12/2039 EUR 60.654
Air Berlin Finance BV 6.000 3/6/2019 EUR 0.278
Single Platform Investm 0.924 2/18/2049 EUR 50.055
Bayerische Landesbank 0.710 12/1/2031 EUR 74.157
Russian Post FGUP 2.750 12/6/2023 RUB 60.070
Stichting Afwikkeling O 8.450 8/20/2018 USD 43.625
Espirito Santo Financia 5.050 11/15/2025 EUR 0.759
Intesa Sanpaolo Bank Ir 3.102 11/19/2035 AUD 65.342
Single Platform Investm 1.220 11/28/2033 EUR 74.802
Kommunekredit 1.336 10/1/2032 AUD 71.852
Steilmann SE 7.000 9/23/2018 EUR 1.429
Deutsche Bahn Finance G 1.520 7/3/2035 SEK 72.174
Ville de Paris 1.720 8/23/2047 EUR 67.207
O1 Properties Finance P 0.500 9/27/2028 USD 5.823
Landesbank Hessen-Thuer 0.600 2/18/2036 EUR 62.742
Kuntarahoitus Oyj 1.150 9/24/2051 EUR 64.755
Office Public De L'Habi 1.700 12/22/2060 EUR 68.205
DZ Bank AG Deutsche Zen 0.560 10/15/2032 EUR 70.355
Landesbank Hessen-Thuer 0.850 10/17/2034 EUR 68.230
NIBC Bank NV 2.105 10/10/2033 EUR 71.378
Gemeente Enschede Nethe 1.517 10/12/2043 EUR 71.894
Sparekassen Bredebro 3.750 4/15/2031 DKK 71.529
Muenchener Hypothekenba 1.420 4/20/2038 EUR 74.819
Lloyds Bank PLC 2.280 1/29/2044 EUR 63.917
Alfa Bank AO Via Alfa B 5.900 USD 7.634
Single Platform Investm 0.880 1/15/2040 EUR 61.245
Single Platform Investm 1.850 2/15/2041 NOK 59.465
Credit Agricole Corpora 1.000 1/31/2033 AUD 66.607
CDC Habitat SEM 0.814 2/15/2040 EUR 59.916
Landshypotek Bank AB 0.750 2/16/2033 SEK 72.779
Autonomous Community of 1.442 10/26/2049 EUR 55.500
Region de Bruxelles-Cap 1.000 4/21/2051 EUR 50.437
DZ Bank AG Deutsche Zen 0.550 3/23/2033 EUR 68.932
Deutsche Pfandbriefbank 0.480 5/19/2031 EUR 68.676
Premium Green PLC 1.630 12/30/2030 AUD 73.229
Single Platform Investm 1.080 7/18/2036 EUR 68.389
German Real Estate Capi 3.000 EUR 72.500
Instabank ASA i 11.570 NOK 71.522
CDC Habitat SEM 1.150 4/30/2037 EUR 68.616
BNP Paribas SA 3.580 7/23/2040 AUD 70.795
National Grid Electrici 2.500 7/24/2035 AUD 68.683
Barclays Bank PLC 10.200 2/14/2025 TRY 74.788
Aareal Bank AG 2.783 5/18/2037 EUR 67.315
Hypo Tirol Bank AG 0.740 5/29/2040 EUR 62.649
Ville de Paris 0.963 6/8/2050 EUR 51.309
Commerzbank AG 1.430 1/23/2040 EUR 63.679
Region Wallonne Belgium 1.865 5/10/2051 EUR 64.075
Commerzbank AG 1.046 12/18/2034 EUR 69.042
Mox Telecom AG 7.250 11/2/2017 EUR 2.270
Centrosolar Group AG 7.000 2/15/2016 EUR 2.505
Raiffeisen-Landesbank T 1.100 11/13/2036 EUR 57.641
Region de Bruxelles-Cap 0.845 9/30/2059 EUR 39.090
Netherlands Government 0.500 1/15/2040 EUR 68.173
Heta Asset Resolution A 4.458 12/31/2023 EUR 1.168
Lehman Brothers Treasur 13.500 11/28/2008 USD 0.100
Region de Bruxelles-Cap 0.256 2/26/2035 EUR 66.988
Premium Green PLC 1.650 3/28/2031 AUD 72.165
Hemso Fastighets AB 0.473 2/18/2030 EUR 72.734
Kommuninvest I Sverige 2.000 10/21/2041 SEK 71.800
Brussels Municipalities 0.832 3/29/2041 EUR 61.084
AKB Peresvet ZAO 0.510 2/14/2032 RUB 6.800
Uliving@Essex Issuerco 0.100 8/31/2058 GBP 63.385
SAir Group 0.125 7/7/2005 CHF 10.125
Deutsche Bank AG 2.348 8/15/2034 EUR 66.689
Deutsche Bank AG 2.267 8/25/2034 EUR 66.033
Windreich GmbH 6.750 3/1/2015 EUR 2.780
Single Platform Investm 1.013 12/20/2050 EUR 51.590
BNG Bank NV 0.632 7/12/2066 EUR 38.219
Landesbank Baden-Wuertt 0.300 3/17/2033 EUR 68.450
Assistance Publique Hop 1.913 4/22/2042 EUR 74.432
Ministeries Van de Vlaa 0.400 11/20/2043 EUR 52.357
Kreditanstalt fuer Wied 1.267 3/22/2051 EUR 63.960
SkyGreen Buildings Kft 3.000 12/29/2030 HUF 65.500
Landesbank Baden-Wuertt 0.140 10/20/2031 EUR 71.527
State of Rhineland-Pala 0.375 3/10/2051 EUR 46.128
Municipality of Almelo 0.210 9/14/2035 EUR 69.189
Hypo Tirol Bank AG 1.320 7/16/2041 EUR 62.785
Region Auvergne-Rhone-A 0.530 9/29/2036 EUR 66.421
CDC Habitat SEM 1.170 5/4/2037 EUR 68.833
Erste Group Bank AG 0.950 5/5/2035 EUR 62.100
Communaute Francaise de 2.350 8/18/2062 EUR 69.532
Assistance Publique Hop 1.795 3/30/2048 EUR 66.821
BNG Bank NV 1.603 3/19/2048 EUR 67.967
Agence Francaise de Dev 1.890 11/20/2048 EUR 70.071
SG Issuer SA 5.000 4/2/2024 EUR 53.210
Communaute Francaise de 1.760 1/26/2043 EUR 69.025
Single Platform Investm 1.000 7/15/2036 EUR 57.322
Oberbank AG 2.250 2/1/2039 EUR 63.567
Single Platform Investm 1.301 6/25/2044 EUR 60.455
Single Platform Investm 0.950 2/15/2044 EUR 56.852
Norddeutsche Landesbank 1.150 7/23/2036 EUR 64.128
NRW Bank 1.276 2/15/2042 EUR 70.851
Single Platform Investm 1.860 2/15/2041 NOK 59.598
Natixis SA 3.550 11/12/2041 AUD 63.735
Santander International 1.192 12/7/2045 EUR 54.700
Department of Bouches d 0.467 12/8/2044 EUR 51.052
Department of Bouches d 0.490 12/8/2045 EUR 49.847
Metropole de Lyon 0.462 12/7/2045 EUR 49.440
Department of Bouches d 0.432 2/1/2046 EUR 48.763
Metropole de Lyon 0.466 12/7/2046 EUR 47.995
ACCIONA Financiacion Fi 3.000 12/2/2039 EUR 72.713
Department of Bouches d 0.445 12/8/2043 EUR 52.336
Region Bourgogne-Franch 0.397 12/3/2045 EUR 48.501
Department of L'Eure Fr 0.442 10/25/2045 EUR 49.328
Caisse des Depots et Co 3.000 11/8/2051 AUD 62.987
Bank Vontobel AG 8.250 11/27/2023 EUR 54.000
Flextronics Internation 3.600 12/6/2031 HUF 70.000
CDC Habitat SEM 0.853 2/15/2041 EUR 59.034
Single Platform Investm 2.125 1/15/2038 NOK 67.238
Norddeutsche Landesbank 1.350 10/20/2038 EUR 61.842
Bayerische Landesbank 0.280 10/9/2030 EUR 74.327
Region Auvergne-Rhone-A 0.645 4/9/2040 EUR 59.844
Single Platform Investm 0.885 7/24/2036 EUR 66.365
Republic of Ireland Int 1.230 6/23/2121 EUR 42.068
Berlin Hyp AG 0.460 10/7/2031 EUR 72.926
Kreditanstalt fuer Wied 1.115 5/17/2041 EUR 68.071
Department of Bouches d 0.981 5/14/2047 EUR 55.218
Department of Bouches d 1.068 5/21/2048 EUR 55.320
Single Platform Investm 1.060 4/1/2042 EUR 60.515
BNG Bank NV 0.562 6/7/2051 EUR 55.017
Grand City Properties S 2.600 2/25/2034 EUR 67.582
Credit Suisse AG/London 13.700 9/25/2023 USD 20.240
Muenchener Hypothekenba 0.030 1/14/2031 EUR 73.920
Muenchener Hypothekenba 0.300 1/27/2031 EUR 74.515
Landesbank Baden-Wuertt 0.290 8/6/2031 EUR 72.289
Ukraine Government Inte 12.520 5/13/2026 UAH 58.821
Cordia International In 3.000 7/27/2030 HUF 67.000
Landesbank Hessen-Thuer 1.200 8/28/2035 EUR 68.000
Batigere Grand Est SAHL 1.610 10/23/2040 EUR 66.218
Municipality of Eindhov 1.785 5/30/2047 EUR 73.070
Region Auvergne-Rhone-A 0.650 5/18/2038 EUR 63.165
DekaBank Deutsche Giroz 1.320 1/24/2045 EUR 58.884
Societe Generale SA 1.230 1/30/2035 EUR 71.828
Deutsche Bank AG/London 3.984 10/10/2042 USD 69.727
Lloyds Bank PLC 2.637 1/16/2040 AUD 65.713
Grand Delta Habitat 1.500 6/2/2045 EUR 59.086
Societe Wallonne de Fin 0.904 10/23/2047 EUR 50.983
Societe Wallonne de Fin 0.894 10/23/2045 EUR 52.477
Societe Generale SA 1.510 12/20/2044 EUR 61.985
Region Auvergne-Rhone-A 0.493 10/23/2037 EUR 63.602
SAir Group 6.250 10/27/2002 CHF 10.125
Norddeutsche Landesbank 1.200 9/18/2035 EUR 66.364
Kuntarahoitus Oyj 0.766 10/28/2048 EUR 60.331
Autonomous Community of 1.900 5/24/2039 EUR 73.716
BNG Bank NV 0.043 9/17/2033 EUR 69.619
Department of Bouches d 1.368 5/6/2044 EUR 64.628
Single Platform Investm 1.260 1/22/2049 EUR 56.830
Caisse des Depots et Co 1.548 8/9/2038 EUR 73.289
SR-Boligkreditt AS 1.252 12/2/2041 EUR 67.765
Communaute Francaise de 1.380 11/7/2046 EUR 60.423
DekaBank Deutsche Giroz 1.350 11/15/2044 EUR 59.450
Santander International 1.700 12/12/2049 EUR 45.804
Purple Protected Asset 2.085 10/27/2060 EUR 45.089
Societe Wallonne de Fin 1.066 9/18/2046 EUR 54.234
Ukraine Government Bond 9.700 12/8/2027 UAH 44.210
Ukraine Government Bond 9.000 7/17/2030 UAH 31.304
HH Finance PLC 5.000 5/19/2028 EUR 60.050
Ukraine Government Bond 8.120 11/10/2035 UAH 22.597
Ukraine Government Bond 8.880 5/10/2032 UAH 27.341
Single Platform Investm 1.220 8/24/2047 EUR 51.727
Bank Vontobel AG 20.000 11/27/2023 CHF 28.900
Kingdom of Belgium Gove 1.600 6/22/2047 EUR 69.224
Caisse Francaise de Fin 1.720 11/6/2047 EUR 68.770
Single Platform Investm 2.160 2/15/2044 EUR 73.776
Region Auvergne-Rhone-A 1.150 4/8/2039 EUR 68.506
BNG Bank NV 1.040 11/28/2047 EUR 59.241
Nordea Eiendomskreditt 2.200 6/17/2043 NOK 70.879
Specialfastigheter Sver 1.120 2/19/2044 SEK 56.016
Nederlandse Waterschaps 1.675 4/26/2046 EUR 71.962
Department of L'Eure Fr 0.959 11/25/2037 EUR 70.117
Municipality of Eindhov 1.246 10/18/2046 EUR 65.022
NRW Bank 0.550 7/23/2035 EUR 72.126
Region Auvergne-Rhone-A 0.697 8/2/2036 EUR 68.368
Agence France Locale 0.586 6/20/2034 EUR 71.585
Argentum Capital SA 1.377 5/25/2034 EUR 69.625
Lehman Brothers Treasur 10.000 3/27/2009 USD 0.100
Severn Trent Utilities 1.500 10/20/2056 GBP 72.730
Autonomous Community of 0.810 10/31/2040 EUR 58.758
Orpea SA 2.300 3/6/2025 EUR 27.548
Espirito Santo Financia 4.809 10/27/2024 EUR 0.001
Single Platform Investm 1.105 1/18/2040 EUR 62.914
Collectivite Europeenne 0.487 10/9/2045 EUR 50.055
Department of Bouches d 0.482 10/20/2045 EUR 49.935
Single Platform Investm 0.835 10/14/2061 EUR 42.702
Heta Asset Resolution A 4.007 12/31/2023 EUR 1.168
Moby SpA 7.750 2/15/2023 EUR 60.090
Commerzbank AG 1.400 7/21/2031 EUR 73.351
Region Provence-Alpes-C 0.785 6/18/2040 EUR 60.771
Region Wallonne Belgium 1.220 6/12/2050 EUR 54.312
Banque Internationale a 0.670 6/29/2030 EUR 74.814
Elli Finance UK PLC 8.750 6/15/2019 GBP 42.613
Region Auvergne-Rhone-A 0.805 7/26/2039 EUR 64.043
Vasakronan AB 1.700 6/28/2044 EUR 41.745
Single Platform Investm 0.870 6/20/2043 EUR 56.329
Single Platform Investm 0.950 5/17/2038 EUR 64.292
Societe Generale SA 1.700 1/19/2031 USD 71.896
Orpea SA 2.770 12/18/2028 EUR 27.679
Metropole de Lyon 0.500 12/28/2048 EUR 45.602
Purple Protected Asset 1.518 1/25/2061 EUR 62.234
Purple Protected Asset 1.565 12/23/2060 EUR 59.826
Department of Loiret Fr 0.550 12/18/2045 EUR 50.689
Metropole de Lyon 0.500 12/28/2049 EUR 44.274
UBS AG/London 16.300 1/8/2024 EUR 26.040
Metropole de Lyon 0.376 12/22/2044 EUR 49.690
Senvion Holding GmbH 3.875 10/25/2022 EUR 0.145
BKS Bank AG 1.390 1/19/2032 EUR 74.337
Caisse des Depots et Co 2.205 9/28/2041 AUD 60.889
Centre Hospitalier Regi 0.800 6/28/2041 EUR 61.230
Credit Agricole SA 3.270 10/5/2041 AUD 58.233
Single Platform Investm 2.600 7/30/2036 NOK 71.713
AutoWallis Nyrt 3.000 7/27/2031 HUF 66.800
Hungary Government Bond 4.000 4/28/2051 HUF 60.559
Bausparkasse Wuestenrot 1.830 4/3/2043 EUR 73.817
Nostrum Oil & Gas Finan 7.000 2/16/2025 USD 27.496
Credit Suisse AG/London 5.200 11/27/2023 USD 9.780
Parnassia Groep BV 1.430 12/1/2043 EUR 63.612
DNB Boligkreditt AS 1.530 1/25/2039 EUR 74.301
Vasakronan AB 2.533 1/28/2044 EUR 46.881
Single Platform Investm 2.150 8/5/2036 NOK 66.766
Assistance Publique Hop 0.750 12/3/2041 EUR 61.176
Landesbank Baden-Wuertt 0.660 11/9/2034 EUR 67.379
Single Platform Investm 1.830 11/5/2040 EUR 64.622
Single Platform Investm 1.390 6/25/2044 EUR 62.522
Societe Generale SA 2.000 2/26/2033 USD 72.107
MFB Magyar Fejlesztesi 4.200 4/20/2033 HUF 74.349
Raiffeisen Schweiz Geno 7.700 11/8/2023 CHF 34.030
Brussels Municipalities 0.336 12/15/2035 EUR 66.990
Credit Industriel Et Co 0.900 2/4/2041 EUR 58.889
Landesbank Baden-Wuertt 0.100 3/5/2031 EUR 73.144
Grand Delta Habitat 1.750 10/28/2061 EUR 67.719
BPCE SA 2.250 3/13/2040 AUD 51.191
Banque Internationale a 0.600 8/6/2030 EUR 74.270
Regie Autonome des Tran 0.953 5/24/2052 EUR 51.969
Saastopankkien Keskuspa 0.860 1/18/2036 EUR 64.212
Landesbank Baden-Wuertt 0.150 9/20/2030 EUR 73.907
Credit Suisse AG/London 0.900 12/20/2031 EUR 73.185
Landesbank Hessen-Thuer 0.750 11/17/2036 EUR 66.700
Bazalgette Finance Plc 0.174 5/16/2049 GBP 57.985
Agence France Locale 0.570 9/20/2040 EUR 60.817
Norske Skog Holding AS 8.000 2/24/2023 USD 0.006
Nordea Hypotek AB 0.793 10/22/2032 SEK 74.257
Lehman Brothers Treasur 5.666 3/16/2035 EUR 0.100
Rosbank PJSC 0.010 4/30/2024 RUB 63.000
Rosbank PJSC 0.020 4/30/2024 RUB 63.000
Officine Maccaferri-SpA 5.750 6/1/2021 EUR 16.625
United Utilities Water 1.474 8/24/2031 USD 71.057
Luminis SA 1.800 9/2/2059 EUR 42.832
LR Realkredit AS 0.500 10/1/2050 DKK 63.380
Deutsche Pfandbriefbank 0.857 9/18/2037 EUR 53.580
Deutsche Telekom AG 3.500 9/6/2039 AUD 72.144
Nomura Bank Internation 1.138 12/19/2039 EUR 55.967
SG Issuer SA 2.250 10/28/2029 EUR 72.120
Erste Group Bank AG 0.770 11/13/2033 EUR 66.113
Commerzbank AG 1.219 12/12/2039 EUR 63.056
Oberbank AG 2.280 6/22/2038 EUR 64.749
IBP Markets Ltd 5.000 GBP 50.514
Zurcher Kantonalbank Fi 4.800 12/8/2023 CHF 61.420
Landesbank Hessen-Thuer 0.500 2/2/2032 EUR 71.719
Bayerische Landesbank 1.620 4/8/2036 EUR 72.552
Caisse des Depots et Co 1.767 9/28/2048 EUR 65.559
Commerzbank AG 1.155 3/16/2038 EUR 73.405
Avanti Communications G 9.000 10/1/2022 USD 14.250
Landesbank Hessen-Thuer 0.900 5/12/2036 EUR 65.069
Windreich GmbH 6.500 3/1/2015 EUR 2.780
Single Platform Investm 1.715 2/6/2037 EUR 74.715
SpareBank 1 SR-Bank ASA 0.970 10/9/2040 EUR 53.844
New World Resources NV 8.000 4/7/2020 EUR 0.105
Societe Generale SA 4.039 11/26/2034 USD 63.268
Nederlandse Waterschaps 1.950 8/29/2058 EUR 68.396
Grupo Isolux Corsan SA 1.000 12/30/2021 EUR 0.157
Single Platform Investm 0.960 7/22/2038 EUR 63.294
Leonteq Securities AG/G 20.200 11/14/2023 CHF 28.840
Single Platform Investm 1.413 3/20/2051 EUR 58.133
STAVMAT Epitoanyag Kere 3.000 7/20/2031 HUF 72.400
Spain Government Bond 0.850 7/30/2037 EUR 68.243
NRW Bank 1.245 11/4/2051 EUR 61.850
ABN AMRO Bank NV 1.575 1/25/2040 EUR 73.660
Agence Francaise de Dev 1.790 2/8/2049 EUR 68.372
Societe Du Grand Paris 2.145 11/26/2068 EUR 60.554
Erste Group Bank AG 1.850 1/30/2034 EUR 73.013
NIBC Bank NV 0.660 7/14/2031 EUR 68.370
Republic of Ireland Int 1.250 10/8/2121 EUR 43.114
Unibail-Rodamco-Westfie 2.000 12/5/2033 EUR 73.569
Regie Autonome des Tran 0.938 5/25/2050 EUR 51.712
Republic of Ireland Int 1.200 4/15/2120 EUR 40.596
Berlin Hyp AG 0.750 3/4/2050 EUR 53.939
SG Issuer SA 2.270 2/4/2032 EUR 62.770
Muenchener Hypothekenba 1.003 3/9/2060 EUR 49.709
Caisse Francaise de Fin 1.428 2/19/2049 EUR 63.311
Belfius Bank SA 0.190 1/28/2031 EUR 73.600
Berlin Hyp AG 0.110 1/20/2031 EUR 73.167
NRW Bank 1.235 12/16/2061 EUR 55.130
Credit Agricole Corpora 2.400 5/17/2048 EUR 50.822
BNP Paribas SA 3.590 7/20/2040 AUD 66.209
Ukraine Government Inte 7.253 3/15/2035 USD 27.636
Cooperatieve Rabobank U 0.540 8/3/2040 EUR 60.011
Veneto Banca SpA 6.944 5/15/2025 EUR 0.708
United Kingdom Gilt 0.500 10/22/2061 GBP 29.359
Barclays Bank PLC 2.820 6/2/2035 USD 71.539
Vnesheconombank Via VEB 6.025 7/5/2022 USD 7.295
BNP Paribas SA 0.500 11/16/2032 MXN 37.821
Orient Express Bank PJS 2.000 USD 13.372
Pannonia Bio Ltd 2.400 9/18/2029 HUF 72.850
State of Hesse 0.450 9/23/2044 EUR 53.601
DZ HYP AG 1.965 7/19/2058 EUR 64.965
State of Rhineland-Pala 0.375 7/20/2048 EUR 47.237
JP Morgan Structured Pr 5.000 7/14/2027 USD #N/A N/A
Ukraine Government Bond 8.520 11/10/2033 UAH 24.795
Ukraine Government Bond 9.760 7/23/2031 UAH 30.892
Ukraine Government Bond 19.750 5/21/2025 UAH 72.353
Lehman Brothers Treasur 0.250 10/19/2012 CHF 0.100
Zurcher Kantonalbank Fi 5.450 12/8/2023 USD 60.970
Deutsche Pfandbriefbank 0.710 9/10/2031 EUR 69.261
Nederlandse Waterschaps 1.610 12/4/2052 EUR 66.929
Bayerische Landesbank 3.550 10/14/2036 EUR 71.440
Lehman Brothers Treasur 3.700 6/6/2009 EUR 0.100
Lehman Brothers Treasur 4.500 8/2/2009 USD 0.100
Lehman Brothers Treasur 7.375 9/20/2008 EUR 0.100
Lehman Brothers Treasur 10.500 8/9/2010 EUR 0.100
Lehman Brothers Treasur 5.750 6/15/2009 CHF 0.100
Lehman Brothers Treasur 11.000 6/29/2009 EUR 0.100
Lehman Brothers Treasur 8.000 8/3/2009 USD 0.100
Trans-Sped Logisztikai 2.500 3/16/2030 HUF 72.620
SpareBank 1 SMN 0.190 11/6/2030 EUR 73.456
Kommunekredit 0.869 11/12/2043 SEK 58.082
Agence France Locale 0.210 12/20/2035 EUR 66.642
Kreditanstalt fuer Wied 1.110 7/13/2046 EUR 65.317
DZ HYP AG 1.300 7/18/2041 EUR 68.007
Barclays Bank PLC 3.130 4/9/2051 USD 59.005
EFG International Finan 6.120 7/11/2024 EUR 1.690
BNP Paribas SA 1.050 3/29/2036 EUR 67.036
Norddeutsche Landesbank 0.850 12/7/2035 EUR 62.825
Landesbank Baden-Wuertt 0.430 12/9/2030 EUR 74.918
Golden Gate GmbH 6.500 10/11/2014 EUR 36.200
Leonteq Securities AG/G 28.880 11/17/2023 CHF 64.700
Societe Generale SA 15.000 9/29/2025 USD 12.100
Renovables Atlasol SA 2.200 12/31/2038 EUR 68.691
Region Wallonne Belgium 1.130 3/28/2036 EUR 73.745
Santander Consumer Bank 9.430 NOK 60.954
Baromfi-Coop Termelo Es 3.000 7/19/2031 HUF 71.900
Penarian Housing Financ 3.212 6/7/2052 GBP 66.754
State of Saxony-Anhalt 0.475 9/30/2050 EUR 49.376
Kommunalkredit Austria 1.055 10/6/2031 EUR 71.844
ING Bank NV 0.465 4/21/2041 EUR 61.351
Single Platform Investm 0.800 12/20/2040 EUR 61.540
Landesbank Baden-Wuertt 0.510 4/15/2031 EUR 74.507
State of Lower Austria 1.800 3/9/2043 EUR 73.595
State of Lower Austria 1.886 3/2/2048 EUR 71.235
Parnassia Groep BV 1.470 12/1/2045 EUR 61.983
Ile-de-France Mobilites 1.000 12/2/2043 EUR 60.618
Batigere Grand Est SAHL 1.500 12/15/2051 EUR 55.326
Commerzbank AG 2.350 2/24/2042 EUR 74.187
Single Platform Investm 0.767 2/15/2041 EUR 58.585
Muenchener Hypothekenba 0.145 2/26/2031 EUR 74.414
Hell Energy Magyarorsza 3.000 7/28/2031 HUF 73.600
Serbia Treasury Bonds 2.250 2/26/2041 EUR 62.961
Caisse des Depots et Co 2.940 3/2/2051 AUD 62.434
Muenchener Hypothekenba 0.550 2/18/2046 CHF 66.613
State of North Rhine-We 0.200 7/17/2034 EUR 72.412
SpareBank 1 Boligkredit 1.490 12/14/2038 EUR 73.819
SpareBank 1 SR-Bank ASA 1.020 10/8/2036 EUR 61.973
Premium Green PLC 1.650 3/28/2031 AUD 72.466
Communication Technolog 5.250 1/27/2032 HUF 65.000
LP Portfolio Vagyonkeze 3.400 9/23/2031 HUF 62.250
Grand City Properties S 2.800 2/25/2039 EUR 60.763
HSBC Continental Europe 2.200 2/27/2049 EUR 67.561
Raiffeisenlandesbank Ob 1.900 8/21/2037 EUR 63.968
UBS AG/London 5.000 9/8/2023 CHF 56.600
UBS AG/London 11.500 10/6/2023 CHF 74.000
DZ Bank AG Deutsche Zen 0.800 1/21/2041 EUR 62.285
Landesbank Baden-Wuertt 0.080 2/12/2031 EUR 73.204
Erste Group Bank AG 4.500 8/31/2025 EUR 72.400
DZ Bank AG Deutsche Zen 0.400 9/1/2033 EUR 72.755
Region Wallonne Belgium 2.100 6/26/2048 EUR 69.559
Akademiska Hus AB 2.305 5/16/2040 SEK 74.140
Bazalgette Finance Plc 0.074 5/16/2049 GBP 60.755
Societe Wallonne de Fin 0.913 7/31/2040 EUR 60.808
Norske Skog Holding AS 8.000 2/24/2023 USD 0.006
Batigere Grand Est SAHL 1.600 11/14/2039 EUR 67.859
Republic of Ireland Int 2.000 6/29/2063 EUR 67.645
Tonon Luxembourg SA 12.500 5/14/2024 USD 0.001
State of North Rhine-We 1.650 5/16/2047 EUR 71.236
Bothwell Spain SA 2.637 6/30/2038 EUR 71.281
DNB Boligkreditt AS 1.533 1/27/2042 EUR 71.501
Agence Francaise de Dev 2.360 1/30/2045 AUD 58.521
Ministeries Van de Vlaa 1.564 11/12/2046 EUR 64.021
Lloyds Bank PLC 2.480 7/5/2038 SEK 69.980
Thomas Cook Group PLC 6.250 6/15/2022 EUR 0.499
Deutsche Apotheker-und 1.090 12/16/2039 EUR 59.134
Heta Asset Resolution A 5.270 12/31/2023 EUR 1.168
Societe Du Grand Paris 1.955 4/16/2069 EUR 58.668
HSBC Continental Europe 2.136 5/25/2038 EUR 73.755
Ukraine Government Bond 8.420 5/10/2034 UAH 24.168
Societe Generale SA 9.640 9/12/2024 USD 49.900
Landesbank Hessen-Thuer 0.500 10/14/2031 EUR 73.441
Spain Government Bond 1.000 7/30/2042 EUR 60.870
Kreditanstalt fuer Wied 1.201 9/13/2051 EUR 61.650
EFG International Finan 10.000 9/20/2023 USD 57.680
Municipality of Eindhov 1.134 10/18/2066 EUR 64.786
Communaute Francaise de 2.000 4/14/2076 EUR 63.463
Raiffeisen Landesbank V 2.000 8/28/2048 EUR 72.287
Irish Bank Resolution C 6.750 11/30/2013 BGN 33.250
Landesbank Hessen-Thuer 1.500 1/20/2037 EUR 63.150
Credit Mutuel Arkea SA 2.060 9/21/2038 EUR 70.671
Norddeutsche Landesbank 1.600 8/1/2039 EUR 63.387
Nederlandse Waterschaps 1.551 11/24/2061 EUR 62.157
Centre Hospitalier Univ 1.160 9/6/2039 EUR 63.936
Irish Bank Resolution C 4.000 4/23/2018 EUR 33.250
DLR Kredit A/S 0.500 10/1/2053 DKK 63.393
Berlin Hyp AG 0.130 9/29/2032 EUR 74.195
Saastopankkien Keskuspa 0.840 10/22/2035 EUR 64.417
Norske Skogindustrier A 2.000 12/30/2115 EUR 0.367
HYPO NOE Landesbank fue 2.950 6/7/2046 EUR 74.145
Transports publics frib 0.500 6/27/2041 CHF 74.245
State of North Rhine-We 0.880 7/12/2040 EUR 67.825
BNP Paribas SA 0.500 9/29/2029 AUD 70.156
Batigere Grand Est SAHL 2.030 5/29/2070 EUR 67.411
Danske Bank A/S 0.805 8/12/2036 EUR 70.349
Caisse Francaise de Fin 1.555 2/12/2042 EUR 71.329
Sparkasse Oberoesterrei 0.200 3/22/2033 EUR 73.507
Assistance Publique Hop 0.800 3/23/2046 EUR 54.004
NRW Bank 1.070 3/10/2051 EUR 59.466
Landesbank Baden-Wuertt 0.060 1/20/2031 EUR 73.284
Hypo Vorarlberg Bank AG 0.400 12/22/2031 EUR 68.623
Single Platform Investm 2.000 2/1/2039 EUR 73.991
Vnesheconombank Via VEB 5.942 11/21/2023 USD 9.666
Credit Agricole Corpora 0.900 10/1/2034 EUR 67.521
State of Lower Austria 0.460 10/8/2049 EUR 45.836
Region Wallonne Belgium 1.225 9/2/2120 EUR 34.350
Stadt Graz 1.824 10/31/2047 EUR 69.532
Landesbank Baden-Wuertt 0.150 8/11/2031 EUR 72.078
Nordea Hypotek AB 2.250 10/15/2048 SEK 70.598
Nomura Bank Internation 1.150 10/6/2036 EUR 64.127
Ile-de-France Mobilites 1.200 4/8/2050 EUR 55.027
Region Wallonne Belgium 1.550 4/28/2120 EUR 40.363
Landeskreditbank Baden- 0.730 10/4/2050 EUR 53.747
Landesbank Baden-Wuertt 0.200 5/7/2031 EUR 73.230
Corner Banca SA 22.000 3/20/2024 CHF 54.640
Bayerische Landesbank 0.150 4/9/2031 EUR 73.669
Bayerische Landesbank 0.590 5/27/2031 EUR 74.552
Deutsche Bank AG 0.650 6/3/2031 EUR 71.710
UBS AG/London 12.250 3/11/2024 CHF 32.500
Muenchener Hypothekenba 0.867 2/25/2047 EUR 58.755
Barclays Bank PLC 4.100 1/29/2048 USD 70.961
Caisse des Depots et Co 1.780 1/15/2048 EUR 66.048
Alfa-Bank AO 10.200 2/10/2025 RUB 65.000
Hamburgische Investitio 0.380 2/24/2042 EUR 59.574
Landwirtschaftliche Ren 1.365 3/10/2042 EUR 72.515
Santander International 1.100 12/7/2040 EUR 58.269
Landesbank Baden-Wuertt 0.460 12/30/2030 EUR 74.948
Single Platform Investm 3.505 8/6/2046 AUD 58.359
Liga Bank eG Regensburg 0.010 1/29/2036 EUR 63.048
Kreditanstalt fuer Wied 0.600 2/16/2051 EUR 51.780
Portugal Obrigacoes do 1.000 4/12/2052 EUR 52.503
Bayerische Landesbank 0.450 2/12/2031 EUR 74.182
Caisse Francaise de Fin 1.670 12/7/2048 EUR 67.316
Societe Generale SA 2.750 3/12/2040 AUD 52.917
BNP Paribas SA 1.660 3/4/2031 USD 72.617
Region de Bruxelles-Cap 1.225 6/21/2070 EUR 39.875
Zurcher Kantonalbank Fi 17.000 9/4/2023 EUR 47.740
Nomura Bank Internation 1.380 1/19/2037 EUR 66.440
Standard Chartered Bank 3.040 1/18/2042 USD 68.917
Landesbank Baden-Wuertt 10.000 1/26/2024 EUR 34.640
Landesbank Baden-Wuertt 0.300 6/18/2031 EUR 73.519
MMB SCF SACA 1.500 3/1/2039 EUR 74.269
Raiffeisen-Landesbank T 0.550 1/20/2031 EUR 71.487
Barclays Bank PLC 2.230 1/26/2036 USD 65.254
Societe Generale SA 1.950 10/22/2031 USD 74.730
Bayerische Landesbank 0.020 1/28/2031 EUR 73.663
Specialfastigheter Sver 2.375 6/25/2048 SEK 70.404
Credit Agricole Corpora 2.090 5/9/2038 EUR 73.979
Leonteq Securities AG/G 24.000 12/5/2023 CHF 72.100
Russian Foreign Bond - 5.250 6/23/2047 USD 36.976
UniCredit SpA 1.490 10/23/2035 EUR 69.436
Virgolino de Oliveira F 10.875 1/13/2020 USD 36.000
Lithuania Government In 2.100 5/26/2047 EUR 73.756
B+N Referencia Ipari Ke 2.900 12/20/2029 HUF 70.800
BPCE SA 2.820 12/18/2039 AUD 57.105
Kraus-M ZAO 10.000 12/10/2026 RUB 60.050
Natixis SA 3.210 1/29/2050 AUD 53.712
Ville de Paris 1.200 6/25/2039 EUR 69.803
Joh Friedrich Behrens A 6.250 6/18/2024 EUR 8.453
Lloyds Bank PLC 2.450 7/23/2048 EUR 64.152
Landesbank Baden-Wuertt 0.200 3/26/2031 EUR 73.592
Bayerische Landesbank 0.820 11/29/2033 EUR 70.840
Bayerische Landesbank 0.870 11/29/2034 EUR 69.214
DZ Bank AG Deutsche Zen 0.910 6/25/2029 EUR 72.370
Bayerische Landesbank 0.900 11/29/2035 EUR 67.514
Kreditanstalt fuer Wied 0.935 12/16/2039 EUR 69.590
Norddeutsche Landesbank 1.000 10/26/2035 EUR 64.398
Bayerische Landesbank 1.690 4/23/2037 EUR 73.389
Credit Agricole SA/Lond 1.770 4/26/2035 EUR 73.506
Barclays Bank PLC 1.150 9/27/2034 EUR 71.917
Santander International 1.180 12/5/2034 EUR 71.100
Agence Francaise de Dev 2.114 9/8/2034 AUD 71.933
Communaute Francaise de 1.815 3/26/2049 EUR 65.387
Ukraine Government Bond 11.870 1/6/2027 UAH 55.110
Banca Popolare di Vicen 9.500 10/2/2025 EUR 0.380
DZ Bank AG Deutsche Zen 2.400 6/28/2024 EUR 73.610
BPCE SA 2.450 2/24/2035 AUD 63.549
HSBC Continental Europe 2.040 3/29/2049 EUR 64.752
UBS AG 10.000 10/19/2023 USD 61.290
Republic of Poland Gove 2.000 10/25/2046 EUR 67.568
Landesbank Hessen-Thuer 1.500 8/23/2034 EUR 68.600
BNP Paribas Issuance BV 3.000 3/14/2033 EUR 41.340
LSF9 Balta Issuer SARL 3.000 12/31/2030 EUR 63.817
DZ Bank AG Deutsche Zen 0.700 11/30/2035 EUR 64.041
Serbia Treasury Bonds 2.300 3/18/2047 EUR 57.954
Lehman Brothers Treasur 4.680 12/12/2045 EUR 0.100
Portugal Telecom Intern 5.242 11/6/2017 EUR 0.694
Barclays Bank PLC 1.630 11/16/2030 USD 74.910
Grand Delta Habitat 1.285 11/6/2040 EUR 62.499
LFA Foerderbank Bayern 0.050 9/29/2034 EUR 70.018
Bayerische Landesbank 0.800 10/16/2036 EUR 65.333
Muenchener Hypothekenba 0.270 10/19/2035 EUR 67.608
Kreditanstalt fuer Wied 0.613 6/10/2040 EUR 61.797
Landesbank Baden-Wuertt 0.980 7/15/2032 EUR 74.801
Santander International 1.150 4/8/2041 EUR 57.579
Landesbank Baden-Wuertt 0.500 4/16/2031 EUR 74.437
Landesbank Saar 0.670 3/10/2034 EUR 68.882
Leonteq Securities AG/G 16.000 12/20/2023 GBP 62.560
UBS AG/London 8.440 5/26/2027 SEK 71.320
French Republic Governm 0.500 6/25/2044 EUR 57.352
Single Platform Investm 1.650 6/3/2038 EUR 71.504
Landesbank Baden-Wuertt 0.350 1/20/2031 EUR 74.119
AB Financial Products D 3.714 7/30/2040 EUR 64.469
Portugal Obrigacoes do 1.150 4/11/2042 EUR 66.015
Caisse des Depots et Co 1.075 9/15/2050 EUR 51.998
BNP Paribas Issuance BV 1.560 2/2/2039 EUR 55.400
Region Wallonne Belgium 2.057 10/19/2043 EUR 71.597
Nederlandse Waterschaps 1.928 10/23/2048 EUR 74.511
Santander Consumer Bank 9.430 NOK 60.954
Landesbank Hessen-Thuer 0.750 8/18/2036 EUR 63.036
Landesbank Hessen-Thuer 1.000 8/19/2036 EUR 62.750
Progressio Infrastructu 1.250 4/25/2033 EUR 74.819
Landesbank Hessen-Thuer 0.500 8/20/2031 EUR 73.778
UBS AG/London 14.500 10/13/2023 USD 54.450
Single Platform Investm 1.785 7/30/2042 EUR 68.856
Single Platform Investm 1.150 8/17/2033 EUR 74.398
Liga Bank eG Regensburg 0.680 3/17/2036 EUR 64.335
Single Platform Investm 0.930 7/2/2041 EUR 59.276
Assistance Publique Hop 1.183 4/16/2050 EUR 55.031
Purple Protected Asset 2.100 4/15/2060 EUR 42.425
CDC Habitat SEM 1.043 5/12/2036 EUR 68.865
Citigroup Global Market 1.010 10/28/2035 EUR 66.511
Single Platform Investm 0.810 4/1/2042 EUR 57.054
Credit Mutuel Arkea SA 1.555 5/14/2035 EUR 72.136
Landesbank Baden-Wuertt 1.100 5/7/2040 EUR 60.413
Caisse des Depots et Co 1.300 4/28/2051 EUR 54.951
Single Platform Investm 2.070 6/1/2040 NOK 62.629
DZ Privatbank SA 0.360 4/29/2031 EUR 74.834
Landesbank Saar 0.890 9/4/2034 EUR 69.358
Single Platform Investm 2.450 6/10/2037 NOK 69.297
State of North Rhine-We 2.000 4/16/2038 SEK 73.485
Cie de Financement Fonc 1.887 1/31/2049 EUR 70.374
Citigroup Global Market 2.000 3/21/2037 EUR 73.825
BNP Paribas SA 2.100 1/24/2039 EUR 74.007
BKS Bank AG 1.500 3/18/2032 EUR 74.478
Banque Internationale a 0.750 4/15/2031 EUR 73.080
Ingrad AO 11.000 2/27/2030 RUB 63.000
Region Bourgogne-Franch 0.799 5/6/2041 EUR 61.476
Region Bourgogne-Franch 0.841 5/12/2037 EUR 66.325
Nordea Bank Abp 3.050 7/20/2026 SEK 70.000
Single Platform Investm 1.960 8/1/2034 NOK 70.103
Denmark Government Bond 0.250 11/15/2052 DKK 49.350
Agence Francaise de Dev 1.950 11/19/2053 EUR 63.595
Department of Bouches d 0.872 12/18/2037 EUR 69.027
Single Platform Investm 1.480 7/25/2053 EUR 59.202
Barclays Bank PLC 2.975 2/21/2025 USD 9.987
Region Bourgogne-Franch 0.895 5/20/2038 EUR 68.354
Natixis SA 0.300 6/25/2048 USD 29.048
Centre Hospitalier Beau 0.950 2/5/2041 EUR 60.114
Oberoesterreichische La 0.705 1/29/2036 EUR 56.323
Oberoesterreichische La 0.460 2/3/2031 EUR 70.729
Region of Pays de la Lo 0.924 11/4/2044 EUR 57.710
Kreditanstalt fuer Wied 0.965 3/2/2046 EUR 60.489
Credit Agricole SA 3.450 3/4/2041 AUD 53.191
Single Platform Investm 0.940 10/4/2041 EUR 59.011
Deutschsprachige Gemein 1.004 7/1/2036 EUR 72.294
Bank fuer Kirche und Ca 0.800 11/12/2035 EUR 66.280
Bank fuer Kirche und Ca 0.770 10/12/2035 EUR 66.195
Bank fuer Kirche und Ca 0.450 7/1/2031 EUR 74.521
Single Platform Investm 1.033 2/15/2046 EUR 56.116
Liga Bank eG Regensburg 0.650 6/26/2034 EUR 67.922
Single Platform Investm 0.656 2/15/2046 EUR 50.697
Single Platform Investm 1.010 3/20/2051 EUR 53.675
Single Platform Investm 0.901 2/15/2041 EUR 60.601
Frankfurter Volksbank R 0.100 7/15/2031 EUR 71.557
Region Occitanie 0.727 11/16/2037 EUR 67.641
Single Platform Investm 1.785 2/15/2041 EUR 70.918
Single Platform Investm 1.416 2/15/2041 EUR 66.259
Single Platform Investm 1.840 11/5/2040 EUR 71.580
Single Platform Investm 0.860 6/15/2039 EUR 61.290
Region de Bruxelles-Cap 1.065 6/22/2047 EUR 54.566
Single Platform Investm 1.375 7/25/2053 EUR 57.530
Single Platform Investm 1.051 4/1/2042 EUR 60.231
Credit Agricole Corpora 2.480 3/4/2036 USD 68.366
Norddeutsche Landesbank 0.675 2/25/2033 EUR 69.130
NRW Bank 0.120 2/24/2033 EUR 74.929
Single Platform Investm 2.300 2/25/2036 NOK 69.896
Vasakronan AB 2.400 2/25/2033 NOK 73.661
Region Bourgogne-Franch 0.300 12/3/2040 EUR 56.020
Metropole de Lyon 0.540 12/7/2050 EUR 43.761
Brussels Municipalities 0.384 6/15/2035 EUR 68.756
Single Platform Investm 2.230 4/4/2040 NOK 63.796
Landesbank Hessen-Thuer 1.000 8/18/2036 EUR 65.402
Single Platform Investm 1.075 6/26/2052 EUR 52.562
Liga Bank eG Regensburg 0.760 12/8/2036 EUR 63.684
Societe Generale SA 20.000 12/18/2025 USD 25.600
Single Platform Investm 0.800 4/7/2042 EUR 56.893
DZ HYP AG 0.050 1/31/2031 EUR 74.450
DZ Bank AG Deutsche Zen 0.185 2/5/2031 EUR 73.478
Single Platform Investm 2.210 9/27/2038 NOK 65.765
Finland Government Bond 0.125 4/15/2052 EUR 43.706
Raiffeisen-Landesbank T 1.500 2/10/2061 EUR 38.333
ING Bank NV 2.600 10/19/2031 AUD 73.238
Single Platform Investm 0.780 4/1/2042 EUR 56.733
Nederlandse Waterschaps 1.770 12/28/2048 EUR 71.783
Muenchener Hypothekenba 0.105 2/17/2031 EUR 74.047
Single Platform Investm 2.520 1/18/2040 NOK 67.375
Commerzbank AG 1.250 6/28/2034 EUR 73.275
Centre Hospitalier Regi 1.500 4/27/2050 EUR 72.913
Region de Bruxelles-Cap 0.900 4/14/2050 EUR 48.905
Landesbank Hessen-Thuer 1.000 4/30/2035 EUR 68.000
Landesbank Hessen-Thuer 0.600 4/9/2035 EUR 64.893
Admiralty Finance SA 2.650 12/31/2038 EUR 74.224
Single Platform Investm 0.955 2/15/2041 EUR 55.341
BPCE SA 2.255 3/12/2040 AUD 50.936
Region de Bruxelles-Cap 0.500 6/22/2040 EUR 57.612
Credit Agricole Corpora 10.800 3/24/2026 TRY 65.455
UniCredit Bank AG 0.030 2/28/2033 EUR 71.958
Raiffeisenlandesbank Ob 2.310 2/27/2040 EUR 67.641
DZ Bank AG Deutsche Zen 0.780 3/5/2030 EUR 72.942
Frigate Luxembourg SA 2.000 8/1/2032 EUR 48.871
Single Platform Investm 1.490 3/20/2051 EUR 60.052
Single Platform Investm 0.833 2/15/2041 EUR 58.971
Muenchener Hypothekenba 0.270 6/16/2031 EUR 74.033
Landesbank Hessen-Thuer 0.350 7/23/2031 EUR 73.831
Raiffeisen Landesbank V 0.750 10/10/2031 EUR 70.072
Banque et Caisse d'Epar 1.068 5/18/2041 EUR 69.737
Single Platform Investm 1.165 7/30/2035 EUR 71.239
Single Platform Investm 2.770 5/9/2041 NOK 68.790
Norddeutsche Landesbank 0.950 6/16/2033 EUR 70.064
Department of Bouches d 0.855 5/20/2038 EUR 67.907
Basler Kantonalbank 18.000 9/14/2023 CHF 40.100
Liga Bank eG Regensburg 0.250 4/30/2031 EUR 71.416
NRW Bank 0.750 5/26/2036 EUR 73.331
Banque et Caisse d'Epar 1.220 5/26/2041 EUR 71.349
Region Bourgogne-Franch 0.945 5/20/2039 EUR 66.904
Caisse des Depots et Co 0.945 5/19/2051 EUR 50.099
Department of Bouches d 0.906 5/20/2039 EUR 66.448
BKS Bank AG 1.050 11/30/2031 EUR 72.442
Single Platform Investm 1.165 6/6/2046 EUR 56.197
DZ Bank AG Deutsche Zen 1.580 12/29/2031 EUR 73.190
Frankfurter Volksbank R 0.050 8/4/2030 EUR 74.240
Batigere Grand Est SAHL 1.400 8/31/2050 EUR 53.506
Single Platform Investm 1.840 7/25/2053 EUR 60.009
Single Platform Investm 1.100 6/25/2044 EUR 58.340
Oberoesterreichische La 0.600 5/26/2031 EUR 70.464
Kommunalkredit Austria 1.183 6/2/2031 EUR 73.576
Ringkjoebing Landbobank 1.230 5/28/2036 EUR 68.988
Societe Generale SA 14.000 7/3/2024 USD 35.600
Sparebank 1 Oestlandet 1.575 2/28/2034 EUR 74.149
Caisse des Depots et Co 1.617 3/18/2049 EUR 62.831
Nationale-Nederlanden B 1.432 3/21/2039 EUR 73.413
Single Platform Investm 1.800 6/6/2039 EUR 72.775
Landeskreditbank Baden- 1.862 4/6/2062 EUR 68.909
Single Platform Investm 2.386 5/25/2053 EUR 73.781
Single Platform Investm 2.150 10/21/2041 NOK 62.376
Landesbank Baden-Wuertt 0.040 1/15/2031 EUR 73.613
Oberoesterreichische La 0.655 1/25/2036 EUR 55.909
NIBC Bank NV 0.410 1/27/2031 EUR 68.532
Credit Industriel Et Co 2.250 1/28/2036 USD 66.919
Single Platform Investm 1.910 8/15/2036 NOK 65.442
Iccrea BancaImpresa SpA 1.276 4/1/2033 EUR 73.787
Citigroup Global Market 1.000 8/31/2036 EUR 63.968
Nederlandse Waterschaps 0.130 9/6/2033 EUR 73.470
Raiffeisen Switzerland 5.000 8/30/2023 CHF 72.290
Credit Agricole CIB Fin 0.440 8/30/2033 EUR 67.973
Bank fuer Kirche und Ca 0.660 3/17/2036 EUR 64.167
Citigroup Global Market 1.200 8/25/2041 EUR 57.954
Bank fuer Kirche und Ca 0.600 6/9/2036 EUR 63.058
Region Occitanie 0.792 11/23/2043 EUR 57.203
Landesbank Baden-Wuertt 0.060 9/1/2031 EUR 71.311
Landesbank Hessen-Thuer 0.550 8/18/2033 EUR 68.690
Muenchener Hypothekenba 0.100 8/14/2034 EUR 68.860
BPCE SA 3.000 11/18/2036 AUD 64.304
Single Platform Investm 1.265 2/4/2043 JPY 72.071
Commerzbank AG 2.565 5/15/2043 EUR 74.563
Single Platform Investm 1.842 2/15/2044 EUR 70.623
Department of Puy-de-Do 0.664 12/20/2039 EUR 62.423
Department of Puy-de-Do 0.671 7/17/2040 EUR 61.370
DZ Bank AG Deutsche Zen 0.800 8/20/2035 EUR 65.059
Caisse des Depots et Co 0.678 7/23/2040 EUR 58.967
Batigere Grand Est SAHL 1.800 8/12/2050 EUR 60.011
Single Platform Investm 0.678 2/15/2041 EUR 56.819
Saastopankkien Keskuspa 0.870 7/28/2031 EUR 74.959
Batigere Grand Est SAHL 1.550 8/12/2041 EUR 64.329
Banque et Caisse d'Epar 0.900 8/6/2042 EUR 66.000
Kuntarahoitus Oyj 0.983 11/3/2060 EUR 56.262
Single Platform Investm 0.873 5/25/2052 EUR 49.252
HYPO NOE Landesbank fue 2.500 4/29/2039 EUR 73.067
Raiffeisen Landesbank V 2.500 5/11/2035 EUR 72.942
Credit Industriel Et Co 1.550 5/15/2035 EUR 74.854
Veneto Banca SpA 6.950 2/25/2025 EUR 0.708
Raiffeisen Landesbank V 1.840 2/25/2035 EUR 68.088
Raiffeisen Landesbank V 1.775 3/13/2035 EUR 67.352
Heta Asset Resolution A 5.030 12/31/2023 EUR 1.168
IT Holding Finance SA 9.875 11/15/2012 EUR 0.015
Akademiska Hus AB 1.252 2/13/2043 SEK 58.176
Willhem AB 1.824 10/18/2038 SEK 62.394
DekaBank Deutsche Giroz 0.780 10/18/2035 EUR 65.543
Ville de Rennes 0.505 10/22/2034 EUR 67.794
Single Platform Investm 2.110 4/2/2040 EUR 74.899
Batigere Grand Est SAHL 1.709 11/4/2042 EUR 64.651
Batigere Grand Est SAHL 1.540 11/4/2041 EUR 63.875
Single Platform Investm 0.753 6/25/2039 EUR 60.393
Ringkjoebing Landbobank 1.100 10/30/2035 EUR 68.838
Landesbank Berlin AG 2.058 11/4/2031 EUR 74.835
Communaute Francaise de 1.787 6/14/2044 EUR 68.288
SNCF Reseau 2.425 6/22/2047 SEK 74.341
Goldman Sachs Internati 2.800 6/29/2037 SEK 74.944
Saastopankkien Keskuspa 1.652 5/14/2035 EUR 72.842
Senivita Social Estate 8.500 6/30/2025 EUR 0.020
Collectivite Europeenne 0.200 11/5/2035 EUR 67.166
Natixis SA 1.150 1/23/2035 EUR 70.253
Banque Internationale a 1.085 10/22/2040 EUR 55.310
DekaBank Deutsche Giroz 0.530 10/22/2035 EUR 63.194
Banque Internationale a 0.675 10/29/2030 EUR 73.918
Department of Gironde F 0.412 11/26/2037 EUR 64.138
Department of Gironde F 0.418 11/12/2041 EUR 55.647
Dr Wiesent Sozial gGmbH 7.000 EUR 0.002
Municipality of Tilburg 0.470 11/14/2034 EUR 73.577
Marseille Provence Metr 1.000 1/15/2038 EUR 66.617
Single Platform Investm 0.853 3/20/2040 EUR 60.200
Raiffeisenlandesbank Ob 1.000 12/30/2030 EUR 74.940
HSBC Continental Europe 1.300 10/23/2039 EUR 63.011
Credit Agricole Corpora 12.000 11/17/2025 TRY 70.257
BNP Paribas SA 2.750 10/24/2034 AUD 66.786
German Pellets GmbH 7.250 7/9/2018 EUR 0.815
Single Platform Investm 1.905 8/22/2039 EUR 72.531
Turkey Government Inter 4.875 4/16/2043 USD 65.957
Kreditanstalt fuer Wied 0.400 8/12/2040 EUR 62.607
Batigere Grand Est SAHL 1.550 11/14/2039 EUR 66.937
Oberoesterreichische La 0.953 9/16/2039 EUR 50.651
Credit Agricole Corpora 2.950 8/22/2039 AUD 64.933
DZ Bank AG Deutsche Zen 2.240 8/22/2034 USD 74.370
Caisse des Depots et Co 1.022 9/13/2049 EUR 51.743
Agence Francaise de Dev 1.600 7/25/2043 EUR 70.276
Single Platform Investm 1.103 5/25/2052 EUR 52.728
RENE LEZARD Mode GmbH 7.250 11/25/2017 EUR 0.151
Oberoesterreichische La 2.500 12/10/2035 EUR 72.544
State of Rhineland-Pala 0.872 10/31/2036 EUR 74.033
Stadtsparkasse Wupperta 1.000 11/3/2031 EUR 74.845
Stadtsparkasse Wupperta 1.040 11/14/2031 EUR 74.868
Stadtsparkasse Wupperta 0.900 9/30/2031 EUR 74.512
DekaBank Deutsche Giroz 0.790 11/14/2031 EUR 74.885
Aargau Verkehr AG 0.270 11/29/2049 CHF 74.564
BNP Paribas SA 3.180 11/19/2039 AUD 60.418
Societe Generale SA 1.270 11/25/2034 EUR 72.272
Specialfastigheter Sver 1.180 12/2/2044 SEK 55.568
DZ Bank AG Deutsche Zen 0.500 8/30/2034 EUR 64.932
Credit Agricole Corpora 2.930 8/20/2039 AUD 64.914
Raiffeisen-Landesbank T 0.766 9/17/2031 EUR 70.475
Caisse des Depots et Co 2.615 11/15/2049 AUD 58.654
VTB Bank PJSC 8.400 5/21/2030 RUB 67.000
DekaBank Deutsche Giroz 0.705 6/1/2032 EUR 72.708
Societe Du Grand Paris 1.923 5/25/2066 EUR 56.163
Department of Gironde F 0.650 12/17/2038 EUR 64.340
Region Centre 0.712 12/3/2039 EUR 61.066
SG Issuer SA 0.650 12/30/2030 EUR 73.433
SG Issuer SA 0.700 12/20/2030 EUR 73.833
DekaBank Deutsche Giroz 0.705 7/1/2032 EUR 72.470
DekaBank Deutsche Giroz 0.848 8/2/2032 EUR 73.250
Vasakronan AB 2.777 4/12/2039 SEK 71.218
Oberbank AG 1.850 4/18/2039 EUR 59.587
DekaBank Deutsche Giroz 1.080 12/9/2039 EUR 61.674
Single Platform Investm 1.110 1/22/2040 EUR 63.214
Ukraine Government Bond 10.570 5/10/2027 UAH 49.989
Ukraine Government Bond 9.700 6/7/2028 UAH 41.247
Ukraine Government Bond 6.000 9/13/2028 UAH 31.622
Ukraine Government Bond 6.000 4/23/2031 UAH 22.026
Caisse des Depots et Co 1.782 6/15/2048 EUR 65.992
Leonteq Securities AG/G 19.000 4/30/2024 USD 69.450
UBS AG/London 19.250 1/25/2024 CHF 40.600
Banca di Cividale SpA/o 3.710 6/30/2036 EUR 70.049
Banca di Cividale SpA/o 3.340 10/2/2036 EUR 71.638
Single Platform Investm 0.740 4/1/2042 EUR 56.168
Banque Internationale a 0.530 9/2/2030 EUR 73.767
Single Platform Investm 1.080 5/17/2033 EUR 74.425
Citigroup Global Market 1.000 9/30/2036 EUR 64.371
Deutsche Bank AG 1.050 9/1/2031 EUR 73.317
Single Platform Investm 1.600 3/23/2038 EUR 70.467
Credit Agricole CIB Fin 0.490 9/13/2033 EUR 68.303
Single Platform Investm 2.060 7/25/2033 NOK 73.120
State of North Rhine-We 1.293 2/25/2041 EUR 72.382
Ukraine Government Bond 6.000 1/14/2026 UAH 53.112
Kuntarahoitus Oyj 1.078 5/6/2039 EUR 73.074
Citigroup Global Market 1.000 1/21/2036 EUR 65.370
Liga Bank eG Regensburg 0.850 5/4/2034 EUR 70.539
Banque et Caisse d'Epar 0.880 2/10/2037 EUR 74.220
Banque et Caisse d'Epar 1.000 1/4/2042 EUR 67.685
BPCE SFH SA 1.420 3/30/2039 EUR 73.373
Agence Metropolitaine D 0.500 7/7/2035 EUR 69.328
Landesbank Hessen-Thuer 1.000 9/13/2034 EUR 68.900
Luzerner Kantonalbank A 12.750 6/12/2024 CHF 64.560
Kreissparkasse Koeln 0.350 2/19/2035 EUR 65.295
Stadtsparkasse Wupperta 0.890 10/17/2031 EUR 74.124
Nationwide Building Soc 1.420 4/23/2041 EUR 73.519
Cooperatieve Rabobank U 1.485 9/3/2041 EUR 71.483
Thames Water Utilities 1.846 8/28/2047 GBP 69.545
Credit Industriel Et Co 1.170 1/28/2037 EUR 68.535
Norddeutsche Landesbank 1.090 11/15/2043 EUR 64.298
Caisse des Depots et Co 1.270 10/1/2051 EUR 54.471
Brussels Municipalities 0.892 3/29/2041 EUR 61.925
Brussels Municipalities 0.892 9/29/2041 EUR 61.113
Societe Generale SA 2.650 1/26/2032 USD 74.498
Raiffeisen-Landesbank T 1.380 7/24/2059 EUR 54.852
Single Platform Investm 1.715 2/15/2041 EUR 70.085
Pongs & Zahn AG 8.500 EUR 0.001
DZ Bank AG Deutsche Zen 1.200 11/25/2050 EUR 51.493
Aareal Bank AG 1.850 3/20/2035 EUR 63.471
Single Platform Investm 1.690 7/25/2053 EUR 62.932
Single Platform Investm 1.720 2/15/2041 EUR 70.062
Single Platform Investm 1.340 4/4/2042 EUR 64.241
Single Platform Investm 1.675 2/15/2041 EUR 67.434
SAG Solarstrom AG 6.250 12/14/2015 EUR 31.000
Kreditanstalt fuer Wied 0.210 11/18/2037 EUR 63.998
Purple Protected Asset 1.480 11/30/2060 EUR 40.067
LFA Foerderbank Bayern 0.010 12/15/2033 EUR 71.848
Single Platform Investm 1.315 12/15/2038 EUR 66.764
UBS Group AG 2.210 11/24/2035 USD 67.112
Credit Suisse AG/London 3.220 2/8/2032 AUD 74.681
Landesbank Baden-Wuertt 0.810 5/21/2032 EUR 74.953
State of Rhineland-Pala 0.100 10/1/2040 EUR 58.734
Single Platform Investm 2.840 12/4/2035 NOK 74.524
Department of Bouches d 0.457 10/8/2040 EUR 58.282
Oberoesterreichische La 0.641 10/13/2035 EUR 56.595
Banque Internationale a 0.750 10/13/2030 EUR 74.135
Oberoesterreichische La 0.650 10/15/2035 EUR 56.658
Banque Internationale a 0.550 10/13/2030 EUR 73.009
Muenchener Hypothekenba 0.580 10/14/2035 EUR 65.158
Oberoesterreichische La 0.420 10/22/2030 EUR 71.707
KPNQwest NV 7.125 6/1/2009 EUR 0.190
Heta Asset Resolution A 3.635 12/31/2023 EUR 1.168
Belfius Bank SA 1.550 1/28/2039 EUR 74.601
Norske Skogindustrier A 7.000 12/30/2026 EUR 0.010
HYPO NOE Landesbank fue 3.000 5/30/2046 EUR 74.154
Municipality of Groning 1.404 7/1/2041 EUR 72.810
Credit Suisse AG/London 4.700 7/1/2046 AUD 71.006
Department of Bouches d 1.100 7/8/2039 EUR 68.471
Raiffeisen Landesbank V 2.257 11/13/2034 EUR 72.446
Raiffeisen Landesbank V 2.257 11/13/2034 EUR 72.446
Department of Gironde F 0.900 12/15/2039 EUR 65.279
Department of Gironde F 0.707 6/23/2035 EUR 72.962
Department of Gironde F 0.979 6/25/2040 EUR 65.261
Saastopankkien Keskuspa 1.500 6/12/2035 EUR 71.070
Region Wallonne Belgium 1.300 6/16/2068 EUR 45.491
Saastopankkien Keskuspa 1.445 6/23/2035 EUR 70.577
Single Platform Investm 1.660 12/16/2036 EUR 73.630
Agence Metropolitaine D 0.800 7/1/2040 EUR 63.037
Vodafone Group PLC 4.600 8/9/2046 USD 72.269
Volksbank Weinheim eG 2.600 12/8/2058 EUR 74.268
Region de Bruxelles-Cap 1.800 8/17/2048 EUR 67.666
Natixis SA 1.350 6/26/2039 EUR 65.300
Single Platform Investm 2.770 6/6/2040 NOK 69.551
Landesbank Saar 0.680 3/29/2034 EUR 68.842
Single Platform Investm 1.090 11/30/2033 EUR 73.800
Single Platform Investm 1.040 6/25/2044 EUR 57.484
Nomura Bank Internation 1.175 7/8/2033 EUR 69.179
BNP Paribas SA 3.950 7/11/2039 AUD 71.127
Department of Bouches d 0.530 7/30/2035 EUR 71.031
DekaBank Deutsche Giroz 0.370 4/16/2031 EUR 74.307
Volksbank in Suedwestfa 0.300 3/19/2031 EUR 74.421
Purple Protected Asset 1.570 4/30/2061 EUR 46.364
Single Platform Investm 2.820 7/3/2041 NOK 69.341
Single Platform Investm 0.932 6/15/2039 EUR 62.356
Leonteq Securities AG/G 24.500 1/26/2024 CHF 39.310
Single Platform Investm 1.762 5/25/2066 EUR 56.328
Credit Agricole CIB Fin 0.540 9/20/2033 EUR 68.661
Single Platform Investm 2.050 9/1/2044 NOK 58.783
DZ HYP AG 0.180 3/10/2031 EUR 73.380
Single Platform Investm 2.212 4/6/2034 NOK 72.959
ING Bank NV 2.410 3/16/2031 AUD 74.165
Berlin Hyp AG 0.375 9/29/2031 EUR 72.262
Credit Industriel Et Co 0.805 9/21/2033 EUR 71.177
Banque Internationale a 0.800 12/22/2032 EUR 68.842
DekaBank Deutsche Giroz 1.585 12/28/2035 EUR 59.261
Single Platform Investm 2.500 6/6/2036 NOK 71.006
Malta Government Bond 1.000 8/23/2035 EUR 72.900
Landesbank Hessen-Thuer 1.370 9/22/2031 EUR 69.594
DekaBank Deutsche Giroz 0.250 1/31/2031 EUR 73.889
Bayerische Landesbank 1.820 3/12/2031 EUR 72.050
Renovables Atlasol SA 2.200 12/31/2038 EUR 68.691
Hypo-Bank Burgenland AG 0.810 9/17/2031 EUR 70.536
Single Platform Investm 1.180 4/1/2039 EUR 65.030
BKS Bank AG 2.165 6/21/2039 EUR 71.809
Department of L'Eure Fr 0.515 5/25/2040 EUR 59.751
Department of Loiret Fr 0.790 11/22/2039 EUR 64.084
DZ Bank AG Deutsche Zen 0.750 7/18/2033 EUR 69.247
Ringkjoebing Landbobank 1.875 6/6/2039 EUR 71.574
Lloyds Bank PLC 1.920 4/16/2044 EUR 60.034
DZ Bank AG Deutsche Zen 0.700 10/2/2034 EUR 66.271
Citigroup Global Market 1.150 9/19/2039 EUR 60.758
Region de Bruxelles-Cap 0.731 8/25/2060 EUR 36.002
DZ Bank AG Deutsche Zen 0.240 2/28/2031 EUR 73.723
DZ Bank AG Deutsche Zen 23.300 12/22/2023 EUR 9.000
Luzerner Kantonalbank A 3.500 8/30/2023 USD 47.350
Hypo Vorarlberg Bank AG 1.020 7/15/2041 EUR 51.197
Specialfastigheter Sver 2.205 10/11/2038 SEK 74.294
National Grid Electrici 2.920 9/30/2044 AUD 60.507
Region Wallonne Belgium 1.250 4/30/2055 EUR 49.961
Landesbank Hessen-Thuer 0.530 11/4/2031 EUR 72.331
Credit Agricole SA 1.000 4/6/2035 EUR 67.204
Single Platform Investm 1.155 5/25/2052 EUR 54.567
UniCredit Bank AG 1.120 1/20/2031 EUR 71.310
Single Platform Investm 1.593 10/31/2050 EUR 57.795
Landesbank Baden-Wuertt 0.500 4/21/2031 EUR 74.402
Caisse des Depots et Co 2.700 4/28/2041 AUD 67.038
Standard Chartered Bank 3.000 4/30/2036 AUD 66.925
Landesbank Saar 0.760 5/8/2034 EUR 68.988
Swedbank Hypotek AB 1.445 3/29/2038 EUR 74.928
Credit Agricole Corpora 2.500 2/20/2048 EUR 72.607
Caisse des Depots et Co 1.780 2/20/2048 EUR 66.183
Morgan Stanley & Co Int 3.100 10/28/2041 AUD 61.799
Nomura Bank Internation 1.450 12/10/2041 EUR 60.651
BNG Bank NV 1.790 1/21/2049 EUR 69.592
Landesbank Hessen-Thuer 2.435 2/6/2048 EUR 66.134
Bank Vontobel AG 9.500 12/4/2023 EUR 58.500
Region de Bruxelles-Cap 2.215 6/1/2041 EUR 74.614
Caisse Francaise de Fin 1.500 2/7/2039 EUR 74.972
Hospices Civils de Lyon 0.597 11/24/2031 EUR 74.705
Landesbank Baden-Wuertt 0.580 3/2/2033 EUR 70.421
UBS Group AG 2.490 3/4/2036 USD 68.888
Department of Bouches d 0.543 12/15/2034 EUR 72.676
Single Platform Investm 1.250 5/10/2044 EUR 60.156
Ville de Paris 1.293 2/22/2049 EUR 57.491
Region Occitanie 1.198 5/25/2036 EUR 72.476
ABN AMRO Bank NV 1.070 3/3/2041 EUR 67.398
DZ Bank AG Deutsche Zen 0.500 2/26/2031 EUR 74.738
Citigroup Global Market 2.500 2/25/2036 USD 71.879
Societe Generale SA 2.060 3/12/2031 USD 73.383
Caisse des Depots et Co 2.730 3/2/2041 AUD 67.553
Hemso Fastighets AB 2.380 3/3/2033 NOK 74.787
Landesbank Baden-Wuertt 0.500 7/30/2031 EUR 73.711
BNP Paribas SA 1.450 11/17/2041 EUR 63.530
Aktia Bank Oyj 0.430 12/2/2030 EUR 74.593
UniCredit Bank AG 10.850 2/1/2024 EUR 55.440
Region de Bruxelles-Cap 0.274 12/11/2040 EUR 54.140
Wirtschafts- und Infras 0.200 12/14/2045 EUR 48.215
Aareal Bank AG 0.300 12/11/2030 EUR 65.803
Kommunekredit 2.180 7/16/2040 AUD 61.866
Berlin Hyp AG 0.349 12/10/2031 EUR 71.736
Norddeutsche Landesbank 0.750 1/15/2032 EUR 73.389
Region Hauts-de-France 0.361 2/18/2041 EUR 54.298
Agence Francaise de Dev 2.330 2/10/2041 AUD 62.855
Landesbank Baden-Wuertt 0.380 2/12/2031 EUR 74.135
DLR Kredit A/S 2.000 10/1/2053 DKK 72.776
NRW Bank 1.211 10/18/2045 EUR 65.829
Hemso Fastighets AB 2.418 11/30/2038 EUR 65.899
Kreditanstalt fuer Wied 0.820 4/15/2050 EUR 57.247
Landesbank Hessen-Thuer 1.200 4/30/2035 EUR 70.034
State of Brandenburg 0.050 2/28/2033 EUR 73.655
Societe Generale SFH SA 0.650 6/23/2035 EUR 72.507
KESZ Holding Business D 2.800 6/17/2031 HUF 74.740
BNP Paribas SA 1.400 6/4/2041 EUR 62.600
Cooperatieve Rabobank U 1.099 6/28/2051 EUR 58.768
Kreditanstalt fuer Wied 1.208 6/17/2051 EUR 62.829
United Kingdom Gilt 1.500 7/31/2053 GBP 50.031
JAB Holdings BV 3.750 5/28/2051 USD 63.255
Banque Federative du Cr 2.460 6/7/2032 AUD 74.158
Vasakronan AB 1.000 6/15/2041 EUR 34.741
Region de Bruxelles-Cap 2.410 8/23/2063 EUR 67.111
French Republic Governm 1.500 5/25/2050 EUR 66.285
BPCE SFH SA 1.390 3/11/2039 EUR 72.293
HSBC Continental Europe 2.150 3/14/2049 EUR 66.524
Leonteq Securities AG/G 30.000 3/13/2024 CHF 58.540
ITK Holding zrt 2.900 6/23/2031 HUF 64.900
Luzerner Kantonalbank A 6.400 10/4/2023 CHF 61.940
UBS AG/London 7.750 10/13/2023 CHF 11.000
Communaute Francaise de 2.050 7/26/2047 EUR 70.761
Landesbank Baden-Wuertt 0.430 1/22/2031 EUR 74.597
Soc Nationale SNCF SACA 2.931 1/14/2051 AUD 61.697
LFA Foerderbank Bayern 0.160 1/2/2040 EUR 59.158
Bayerische Landesbank 0.230 8/27/2031 EUR 71.728
Canton of Geneva Switze 0.050 8/27/2041 CHF 74.552
Region Occitanie 0.834 11/18/2044 EUR 56.373
Landeskreditbank Baden- 1.236 5/22/2045 EUR 67.242
Sberbank of Russia PJSC 0.010 11/23/2026 RUB 69.630
Landesbank Baden-Wuertt 0.500 12/8/2031 EUR 73.243
Agence Francaise de Dev 0.714 7/10/2045 EUR 55.395
Credit Agricole Corpora 2.610 7/27/2050 USD 53.572
Agence France Locale 0.550 6/20/2040 EUR 61.000
Muenchener Hypothekenba 0.886 3/26/2043 EUR 62.690
Lehman Brothers Treasur 4.870 10/8/2013 USD 0.100
Lehman Brothers Treasur 5.220 3/1/2024 EUR 0.100
Kreditanstalt fuer Wied 1.075 12/20/2049 EUR 61.486
EFG International Finan 11.120 12/27/2024 EUR 53.720
Region de Bruxelles-Cap 0.720 10/17/2051 EUR 41.616
Alteo Nyrt 3.150 10/28/2029 HUF 67.500
Virgolino de Oliveira F 10.875 1/13/2020 USD 36.000
Bibby Offshore Services 7.500 6/15/2021 GBP 11.625
SNCF Reseau 2.455 6/22/2047 SEK 74.782
Republic of Ireland Int 2.000 6/29/2064 EUR 67.280
Getin Noble Bank SA 11.950 4/29/2024 PLN 30.866
Bayerische Landesbank 0.970 2/14/2033 EUR 74.013
Region de Bruxelles-Cap 1.000 10/29/2059 EUR 41.050
AK BARS Bank Via AK BAR 8.000 7/13/2022 USD 31.000
BPCE SA 1.850 10/30/2030 AUD 73.150
Norddeutsche Landesbank 1.400 8/17/2037 EUR 64.152
Kreditanstalt fuer Wied 1.087 1/21/2050 EUR 61.725
Vasakronan AB 3.100 9/9/2039 AUD 60.980
BNG Bank NV 2.000 7/24/2058 EUR 74.146
Caisse des Depots et Co 1.811 8/13/2048 EUR 66.338
Communaute Francaise de 2.177 8/17/2068 EUR 65.152
BNG Bank NV 1.900 7/11/2058 EUR 66.952
de Volksbank NV 1.495 7/26/2038 EUR 74.778
DNB Boligkreditt AS 1.230 11/18/2039 EUR 70.020
DNB Boligkreditt AS 1.080 5/16/2039 EUR 68.988
HSBC Continental Europe 0.800 12/13/2034 EUR 68.977
Landesbank Baden-Wuertt 0.590 10/7/2032 EUR 71.458
Berlin Hyp AG 1.157 12/9/2039 EUR 58.894
Natixis SA 2.180 8/24/2035 USD 68.410
Land Baden-Wuerttemberg 1.150 4/5/2049 EUR 62.559
Pick Szeged Szalamigyar 2.000 12/6/2029 HUF 70.180
Ukraine Government Bond 6.000 12/23/2026 UAH 44.497
Ukraine Government Bond 9.610 11/10/2029 UAH 34.806
Ukraine Government Bond 6.000 11/22/2028 UAH 30.561
Ukraine Government Bond 9.730 9/24/2031 UAH 30.481
Hellas Telecommunicatio 6.054 1/15/2015 USD 0.012
Societe Generale SFH SA 0.360 9/14/2033 EUR 73.945
Lehman Brothers Treasur 6.600 5/23/2012 AUD 0.100
Lehman Brothers Treasur 2.300 6/6/2013 USD 0.100
Ukraine Government Bond 11.110 3/29/2028 UAH 45.397
BPCE SFH SA 1.375 3/22/2038 EUR 74.505
Landesbank Baden-Wuertt 11.750 11/24/2023 EUR 29.940
UBS AG/London 15.240 1/31/2024 USD 7.092
Landwirtschaftliche Ren 0.984 2/4/2042 EUR 67.422
Credit Suisse AG/London 20.000 10/10/2023 CHF 27.190
Agence Francaise de Dev 1.656 4/4/2054 EUR 63.148
BPCE SFH SA 1.229 4/12/2049 EUR 60.301
Eika Boligkreditt AS 1.245 3/28/2039 EUR 70.800
Caisse des Depots et Co 1.900 9/14/2048 EUR 65.640
Bayerische Landesbank 2.250 10/17/2033 EUR 72.777
Lehman Brothers Treasur 13.000 2/16/2009 CHF 0.100
Lehman Brothers Treasur 6.000 3/18/2015 USD 0.100
Lehman Brothers Treasur 3.450 5/23/2013 USD 0.100
Lehman Brothers Treasur 7.000 4/24/2009 USD 0.100
NTRP Via Interpipe Ltd 10.250 8/2/2017 USD 2.006
Lehman Brothers Treasur 5.375 2/4/2014 USD 0.100
Lehman Brothers Treasur 10.000 2/16/2009 CHF 0.100
Lehman Brothers Treasur 7.000 2/15/2010 CHF 0.100
Lehman Brothers Treasur 3.500 6/20/2011 EUR 0.100
Lehman Brothers Treasur 11.000 2/16/2009 CHF 0.100
Lehman Brothers Treasur 6.000 9/20/2011 EUR 0.100
Morgan Stanley & Co Int 3.470 1/27/2042 AUD 65.364
Autonomous Community of 1.138 11/22/2052 EUR 47.511
BPCE SFH SA 1.586 2/1/2047 EUR 67.309
Comunidad Foral de Nava 1.800 3/25/2042 EUR 68.795
Lehman Brothers Treasur 13.000 12/14/2012 USD 0.100
Lehman Brothers Treasur 4.820 12/18/2036 EUR 0.100
Rikshem AB 1.910 11/16/2032 NOK 70.498
Kuntarahoitus Oyj 1.005 11/4/2060 EUR 56.327
Department of Bouches d 0.450 10/15/2041 EUR 56.203
NRW Bank 0.800 10/22/2060 EUR 47.071
Heta Asset Resolution A 5.920 12/31/2023 EUR 1.168
Nationwide Building Soc 1.673 1/28/2041 EUR 74.688
Italy Buoni Poliennali 2.700 3/1/2047 EUR 74.463
State of Saarland 1.108 5/18/2046 EUR 63.071
Bazalgette Finance Plc 0.688 6/27/2050 GBP 58.555
HYPO NOE Landesbank fue 3.000 6/20/2051 EUR 73.651
United Kingdom Gilt 2.500 7/22/2065 GBP 63.471
Ukraine Government Bond 12.500 2/21/2024 UAH 73.039
Aareal Bank AG 1.741 1/12/2045 EUR 47.908
Region Bretagne SCI 0.770 12/1/2039 EUR 61.762
Rikshem AB 2.370 6/17/2032 NOK 74.229
Region Provence-Alpes-C 0.709 6/29/2040 EUR 62.763
Windreich GmbH 6.250 3/1/2015 EUR 2.780
Region de Bruxelles-Cap 1.532 8/16/2038 EUR 72.935
Landeskreditbank Baden- 1.025 4/1/2061 EUR 52.295
Landesbank Baden-Wuertt 1.000 8/12/2039 EUR 62.990
Raiffeisen Schweiz Geno 19.800 12/12/2023 CHF 41.610
Cooperatieve Rabobank U 1.430 9/1/2036 EUR 70.809
Aareal Bank AG 0.520 4/18/2031 EUR 66.127
BNP Paribas SA 3.170 1/7/2041 AUD 60.618
Credit Suisse AG/London 16.300 12/26/2023 USD 47.440
Landesbank Baden-Wuertt 0.360 12/30/2030 EUR 74.336
State of Saxony-Anhalt 2.416 7/3/2028 EUR 60.000
Aareal Bank AG 0.625 9/16/2030 EUR 68.619
Caisse des Depots et Co 2.670 9/17/2049 AUD 59.444
Lehman Brothers Treasur 4.100 5/20/2009 USD 0.100
Lehman Brothers Treasur 2.000 5/17/2010 EUR 0.100
Lehman Brothers Treasur 3.820 10/20/2009 USD 0.100
LBI ehf 2.250 2/14/2011 CHF 7.750
NIBC Bank NV 0.460 7/19/2029 EUR 74.929
Republic of Austria Gov 0.700 4/20/2071 EUR 41.656
Republic of Ireland Int 2.045 3/22/2075 EUR 72.419
Ukraine Government Inte 6.876 5/21/2031 USD 27.069
Swedbank Hypotek AB 1.595 11/20/2043 EUR 71.492
Norddeutsche Landesbank 0.825 8/30/2033 EUR 68.451
Barclays Bank PLC 3.900 2/15/2042 AUD 65.924
Raiffeisenlandesbank Ob 0.835 10/20/2036 EUR 69.418
Standard Chartered Bank 2.650 10/13/2036 USD 72.024
Kuntarahoitus Oyj 1.220 3/27/2060 EUR 60.893
Societe Generale SA 0.570 6/30/2031 EUR 73.185
Kreditanstalt fuer Wied 1.270 6/29/2051 EUR 63.475
Kreditanstalt fuer Wied 1.271 5/20/2051 EUR 63.526
Cooperatieve Rabobank U 1.704 2/25/2049 EUR 70.373
Deutsche Bank AG 0.700 10/28/2031 EUR 71.866
Societe Generale SA 7.750 10/29/2032 USD 74.750
Region de Bruxelles-Cap 1.710 5/5/2047 EUR 61.723
Citigroup Global Market 0.200 1/19/2031 EUR 73.722
Region Wallonne Belgium 0.850 1/26/2071 EUR 34.470
Landesbank Hessen-Thuer 1.050 7/30/2035 EUR 68.148
Derzhava-Garant OOO 15.000 6/12/2030 RUB 32.400
Heta Asset Resolution A 4.875 12/31/2023 EUR 1.168
Credit Agricole Corpora 2.650 1/29/2035 AUD 71.025
Nostrum Oil & Gas Finan 8.000 7/25/2022 USD 25.546
French Republic Governm 0.500 5/25/2040 EUR 63.377
DLR Kredit A/S 1.500 10/1/2053 DKK 72.009
Bayerische Landesbank 1.100 1/26/2024 EUR 58.590
State of North Rhine-We 1.375 1/15/2120 EUR 45.278
Eika Boligkreditt AS 1.112 5/16/2039 EUR 69.635
Swedbank Hypotek AB 1.565 8/17/2043 EUR 71.130
Heta Asset Resolution A 7.500 12/31/2023 ATS 1.168
Region Wallonne Belgium 1.272 10/3/2040 EUR 64.340
BPCE SFH SA 1.186 5/9/2039 EUR 70.116
PJSC Koks via IMH Capit 5.900 9/23/2025 USD 8.623
Kuntarahoitus Oyj 0.514 10/7/2039 EUR 65.729
Ukraine Government Bond 8.750 2/16/2033 UAH 26.149
Lehman Brothers Treasur 11.000 12/19/2011 USD 0.100
Raiffeisen Switzerland 16.000 1/3/2024 CHF 40.850
Ukraine Government Bond 11.890 5/6/2026 UAH 59.824
Raiffeisen Switzerland 15.000 1/23/2024 CHF 36.350
Astana Finance BV 7.875 6/8/2010 EUR 16.000
Kingdom of Belgium Gove 2.150 6/22/2066 EUR 70.907
Lehman Brothers Treasur 3.400 9/21/2009 HKD 0.100
Lehman Brothers Treasur 5.200 11/9/2011 EUR 0.100
Sidetur Finance BV 10.000 4/20/2016 USD 0.751
Lehman Brothers Treasur 4.350 8/8/2016 SGD 0.100
Nomura Bank Internation 0.400 11/5/2030 EUR 71.724
Lehman Brothers Treasur 7.625 7/22/2011 HKD 0.100
Ukraine Government Inte 7.750 9/1/2027 USD 28.958
Ukraine Government Inte 7.750 9/1/2028 USD 29.796
Ukraine Government Bond 15.500 9/4/2024 UAH 69.759
BNP Paribas SA 3.750 6/12/2040 AUD 72.620
LR Realkredit AS 1.000 10/1/2050 DKK 65.521
Aareal Bank AG 1.300 9/19/2031 EUR 68.990
Communaute Francaise de 0.749 9/16/2080 EUR 46.448
Hemso Fastighets AB 1.800 5/5/2032 EUR 73.105
Italy Buoni Poliennali 2.450 9/1/2050 EUR 68.384
Autonomous Community of 1.646 7/30/2060 EUR 50.428
Landesbank Hessen-Thuer 0.460 7/20/2032 EUR 69.840
Landesbank Hessen-Thuer 0.350 8/19/2030 EUR 74.503
Landesbank Baden-Wuertt 0.360 8/11/2031 EUR 72.711
BPCE SA 2.160 10/6/2031 USD 73.572
Banco Santander SA 1.020 1/4/2034 EUR 68.351
Specialfastigheter Sver 1.215 5/14/2035 SEK 70.215
Ministeries Van de Vlaa 0.940 5/12/2050 EUR 48.721
UniCredit Bank AG 0.900 7/18/2031 EUR 74.390
Italy Buoni Poliennali 2.150 3/1/2072 EUR 56.033
Vacse AB 2.067 4/20/2034 SEK 73.416
UniCredit Bank AG 1.560 1/20/2031 EUR 72.850
Landesbank Baden-Wuertt 0.440 5/7/2031 EUR 73.908
Landesbank Hessen-Thuer 0.631 5/2/2031 EUR 73.731
Assistance Publique Hop 1.800 4/10/2048 EUR 66.871
Deutsche Bank AG/London 0.500 4/5/2038 MXN 22.767
Landesbank Baden-Wuertt 0.710 11/9/2035 EUR 65.658
Vasakronan AB 2.390 1/17/2039 EUR 50.686
Region Centre 0.807 5/12/2040 EUR 60.593
Muenchener Hypothekenba 0.805 4/16/2036 EUR 66.971
Agence Francaise de Dev 1.774 3/24/2044 EUR 72.102
Nederlandse Waterschaps 1.577 12/9/2039 GBP 63.276
UBS AG/London 15.250 11/27/2023 CHF 37.500
Landesbank Hessen-Thuer 0.450 1/7/2032 EUR 73.265
DZ HYP AG 2.023 1/18/2058 EUR 66.494
Nederlandse Waterschaps 2.032 1/23/2058 EUR 73.795
Leonteq Securities AG/G 11.000 12/7/2023 CHF 20.000
Hypo-Bank Burgenland AG 2.010 2/7/2048 EUR 70.279
Landesbank Baden-Wuertt 0.550 11/9/2032 EUR 71.150
Landesbank Baden-Wuertt 5.250 10/27/2023 EUR 43.880
Bayerische Landesbank 1.850 3/5/2031 EUR 72.540
Goldman Sachs Internati 2.520 3/3/2036 USD 68.331
Norddeutsche Landesbank 0.750 7/23/2031 EUR 74.360
Hypo Vorarlberg Bank AG 0.920 7/8/2036 EUR 59.410
Barclays Bank PLC 2.000 10/8/2042 EUR 63.070
Norddeutsche Landesbank 1.600 4/5/2034 EUR 73.874
Sveriges Sakerstallda O 1.378 7/13/2046 SEK 60.377
Landesbank Baden-Wuertt 0.200 12/2/2030 EUR 72.690
BPCE SA 1.920 12/9/2030 AUD 73.087
Kreditanstalt fuer Wied 0.951 9/9/2050 EUR 55.989
Caisse des Depots et Co 2.160 12/7/2050 AUD 51.935
Deutsche Bank AG 2.010 12/10/2052 EUR 59.793
Kuntarahoitus Oyj 0.815 2/24/2061 EUR 52.628
DZ Bank AG Deutsche Zen 0.420 2/17/2033 EUR 68.315
Landesbank Baden-Wuertt 0.490 6/9/2031 EUR 74.105
Norddeutsche Landesbank 1.560 10/20/2038 EUR 63.938
VTB Bank PJSC 9.670 USD 50.000
NRW Bank 0.921 10/20/2041 EUR 66.421
Landesbank Baden-Wuertt 0.520 12/9/2031 EUR 73.056
DZ Bank AG Deutsche Zen 2.000 12/29/2031 EUR 72.480
Cie de Financement Fonc 1.695 12/4/2048 EUR 67.311
Landesbank Baden-Wuertt 0.400 2/12/2031 EUR 74.259
Nederlandse Waterschaps 1.370 3/23/2065 EUR 53.676
Landesbank Baden-Wuertt 0.660 10/9/2034 EUR 67.336
Hypo Vorarlberg Bank AG 0.500 6/23/2031 EUR 71.006
Berlin Hyp AG 0.625 6/30/2031 EUR 73.104
Citigroup Global Market 1.500 5/13/2051 EUR 54.037
Landesbank Baden-Wuertt 0.740 6/2/2036 EUR 64.536
Italy Buoni Poliennali 2.150 9/1/2052 EUR 62.528
Natixis SA 2.720 5/27/2036 USD 71.624
Rikshem AB 3.250 5/31/2041 AUD 60.150
Vasakronan AB 2.277 3/11/2039 EUR 49.981
HSBC Continental Europe 2.025 3/19/2049 EUR 64.548
HYPO NOE Landesbank fue 1.790 8/18/2037 EUR 67.925
Cooperatieve Rabobank U 2.250 9/15/2047 EUR 66.517
Communaute Francaise de 1.600 6/22/2047 EUR 65.295
HYPO NOE Landesbank fue 2.080 10/5/2037 EUR 70.570
Natixis SA 2.520 8/24/2036 AUD 62.026
Landesbank Hessen-Thuer 0.500 12/3/2031 EUR 72.026
UBS AG/London 7.000 9/22/2023 CHF 72.600
Aareal Bank AG 1.475 7/19/2029 EUR 71.951
DZ Bank AG Deutsche Zen 0.250 1/21/2033 EUR 73.447
Raiffeisen Bank Interna 0.370 2/3/2033 EUR 62.343
Landesbank Baden-Wuertt 0.260 7/29/2030 EUR 74.912
Regie Autonome des Tran 1.900 6/26/2048 EUR 70.929
Nederlandse Waterschaps 1.955 6/28/2058 EUR 73.185
DekaBank Deutsche Giroz 7.500 5/31/2024 EUR 70.330
Single Platform Investm 1.475 10/5/2043 JPY 73.718
Landesbank Baden-Wuertt 0.650 12/1/2031 EUR 74.234
Landesbank Hessen-Thuer 0.300 9/15/2031 EUR 71.105
Regie Autonome des Tran 0.640 8/13/2041 EUR 60.019
State of Saxony-Anhalt 1.808 5/15/2048 EUR 73.599
Assistance Publique Hop 0.647 7/17/2040 EUR 61.137
Societe Generale SA 2.710 7/8/2035 AUD 61.674
Credit Mutuel Arkea SA 0.730 10/14/2036 EUR 61.592
Single Platform Investm 2.230 4/15/2044 EUR 73.383
Aktia Bank Oyj 0.990 1/15/2035 EUR 68.235
Deutsche Bank AG/London 4.320 6/15/2037 AUD 73.167
SNCF Reseau 2.303 7/11/2067 EUR 64.766
Landesbank Baden-Wuertt 0.790 5/16/2033 EUR 71.558
Bayerische Landesbank 0.770 6/18/2032 EUR 72.553
Nederlandse Waterschaps 0.932 12/2/2060 EUR 47.288
Ville de Paris 0.758 8/20/2060 EUR 37.571
Caisse des Depots et Co 2.345 1/29/2050 AUD 54.908
UniCredit Bank AG 7.600 2/19/2024 EUR 69.500
DZ Bank AG Deutsche Zen 0.700 8/24/2033 EUR 69.030
Assistance Publique Hop 0.750 11/30/2039 EUR 63.319
Credit Agricole Corpora 2.700 6/3/2035 AUD 70.795
United Kingdom Gilt 0.625 10/22/2050 GBP 38.894
Agence Francaise de Dev 2.360 10/17/2044 AUD 58.765
Single Platform Investm 1.156 2/12/2041 EUR 62.593
Hypo-Bank Burgenland AG 1.010 10/29/2049 EUR 56.518
SAir Group 5.125 3/1/2003 CHF 10.172
Credit Agricole Corpora 10.500 2/16/2027 TRY 58.839
Vasakronan AB 2.050 5/28/2044 EUR 45.781
HSBC Continental Europe 2.890 9/11/2039 AUD 60.754
NRW Bank 0.473 6/23/2049 EUR 53.177
Caisse des Depots et Co 2.630 9/16/2049 AUD 58.925
State of Rhineland-Pala 0.500 7/30/2036 EUR 71.317
Lloyds Bank PLC 2.450 7/20/2048 EUR 64.112
Societe Generale SA 2.370 9/17/2035 AUD 58.536
Single Platform Investm 1.200 11/15/2037 EUR 67.258
Caisse des Depots et Co 2.340 11/27/2049 AUD 54.926
DZ Bank AG Deutsche Zen 0.625 1/7/2032 EUR 72.827
Landesbank Baden-Wuertt 0.540 10/7/2031 EUR 73.504
Communaute Francaise de 1.728 4/11/2049 EUR 67.056
Barclays Bank PLC 2.730 9/27/2024 EUR 61.480
Landesbank Hessen-Thuer 0.350 10/13/2031 EUR 71.269
Landesbank Hessen-Thuer 1.000 10/14/2036 EUR 63.650
Lehman Brothers Treasur 13.150 10/30/2008 USD 0.100
Muenchener Hypothekenba 1.172 10/30/2047 EUR 64.140
Assistance Publique Hop 1.665 4/10/2049 EUR 63.808
BNG Bank NV 1.873 11/24/2047 EUR 71.818
ECM Real Estate Investm 5.000 10/9/2011 EUR 15.375
Erste Group Bank AG 1.200 2/11/2040 EUR 54.416
Landesbank Hessen-Thuer 0.400 2/4/2031 EUR 73.808
NRW Bank 1.020 8/1/2049 EUR 55.942
Leonteq Securities AG/G 20.000 2/2/2024 CHF 38.700
Societe Generale SA 1.100 2/20/2034 EUR 71.011
Ministeries Van de Vlaa 0.600 11/19/2055 EUR 36.910
Kuntarahoitus Oyj 1.557 3/29/2052 EUR 74.100
DZ Bank AG Deutsche Zen 0.660 11/23/2035 EUR 63.500
Banque Internationale a 0.480 11/13/2030 EUR 72.712
DZ Bank AG Deutsche Zen 0.100 11/15/2030 EUR 74.121
Deutsche Pfandbriefbank 0.613 9/30/2032 EUR 64.879
Kreditanstalt fuer Wied 1.027 10/26/2050 EUR 57.308
Berlin Hyp AG 0.055 10/16/2030 EUR 73.563
Gold-Zack AG 7.000 12/14/2005 EUR 4.402
Lloyds Bank PLC 2.255 2/9/2036 EUR 72.274
DZ HYP AG 1.060 7/28/2036 EUR 73.740
Bayerische Landesbank 0.940 7/16/2032 EUR 74.784
DZ Bank AG Deutsche Zen 1.060 6/24/2032 EUR 74.659
Credit Agricole Corpora 10.200 8/6/2026 TRY 61.658
Vasakronan AB 3.270 6/26/2034 AUD 72.443
Landesbank Baden-Wuertt 0.750 8/12/2039 EUR 64.410
Landesbank Saar 0.720 6/29/2035 EUR 65.961
Landesbank Baden-Wuertt 1.300 6/21/2049 EUR 56.672
Nomura Bank Internation 1.415 1/27/2042 EUR 59.972
DZ HYP AG 1.226 8/25/2036 EUR 66.111
Aareal Bank AG 0.255 9/17/2029 EUR 70.768
Aareal Bank AG 0.380 9/16/2031 EUR 63.395
Barclays Bank PLC 3.020 3/26/2051 USD 57.828
Autonomous Community of 1.931 4/4/2042 EUR 70.464
Deutsche Bank AG 0.510 9/16/2031 EUR 74.547
Landesbank Baden-Wuertt 0.370 10/20/2031 EUR 72.415
Region de Bruxelles-Cap 0.450 12/22/2056 EUR 33.626
State of North Rhine-We 1.450 1/19/2122 EUR 46.365
Landesbank Hessen-Thuer 0.700 2/24/2032 EUR 72.909
Bankinter SA 1.200 6/5/2035 EUR 73.114
Landesbank Baden-Wuertt 0.590 9/22/2034 EUR 66.843
Landesbank Baden-Wuertt 0.060 10/4/2030 EUR 73.290
Nederlandse Waterschaps 0.781 2/28/2050 EUR 53.871
State of Lower Austria 1.750 5/2/2047 EUR 69.179
Lloyds Banking Group PL 0.995 2/15/2038 JPY 74.956
Turkey Government Bond 10.280 9/15/2027 TRY 68.500
Leonteq Securities AG 8.000 11/29/2023 CHF 63.550
Landesbank Hessen-Thuer 0.350 5/27/2031 EUR 74.218
Caisse des Depots et Co 1.960 2/1/2048 EUR 68.104
Kingdom of Belgium Gove 1.700 6/22/2050 EUR 68.185
Landesbank Baden-Wuertt 7.800 3/22/2024 EUR 49.160
Kreditanstalt fuer Wied 1.142 2/15/2042 EUR 69.950
Caisse des Depots et Co 1.000 2/26/2051 EUR 50.395
Kuntarahoitus Oyj 1.005 12/7/2060 EUR 56.374
Ukraine Government Inte 9.990 5/22/2024 UAH 68.277
Raiffeisen Switzerland 20.000 2/20/2024 CHF 49.970
Norddeutsche Landesbank 1.100 10/13/2034 EUR 68.290
Russian Federal Bond - 7.100 5/15/2041 RUB 69.651
Banco Santander SA 1.000 1/14/2034 EUR 68.860
Vasakronan AB 3.300 1/14/2042 AUD 60.647
UBS AG/London 1.860 2/28/2049 EUR 65.155
Republic of Poland Gove 2.000 3/8/2049 EUR 65.795
Aareal Bank AG 1.465 7/24/2029 EUR 71.837
Region Wallonne Belgium 0.250 12/29/2036 EUR 62.292
Land Berlin 0.100 1/18/2041 EUR 56.679
State of North Rhine-We 0.200 1/27/2051 EUR 43.134
Raiffeisen Switzerland 17.500 12/27/2023 CHF 41.590
Agence Francaise de Dev 0.537 7/16/2040 EUR 62.065
Societe Generale SA 4.740 3/24/2030 USD 72.137
Ukraine Government Bond 9.500 12/11/2024 UAH 62.310
Goldman Sachs Internati 2.034 7/7/2036 EUR 70.122
Ville de Paris 0.760 5/25/2066 EUR 35.585
Italy Buoni Poliennali 1.700 9/1/2051 EUR 57.144
French Republic Governm 0.750 5/25/2052 EUR 51.536
Region Auvergne-Rhone-A 0.800 5/22/2040 EUR 61.365
BNP Paribas SA 1.000 1/23/2040 MXN 21.453
Norddeutsche Landesbank 1.350 2/3/2038 EUR 62.474
Landesbank Hessen-Thuer 0.600 10/27/2034 EUR 66.063
Ireland Government Bond 1.500 5/15/2050 EUR 67.258
Gazprom PJSC 4.510 10/21/2043 RUB 70.000
Deutsche Pfandbriefbank 4.120 11/3/2031 EUR 59.297
Erste Group Bank AG 0.940 5/22/2034 EUR 64.205
Barclays Bank PLC 1.750 9/29/2032 USD 68.690
MOL Hungarian Oil & Gas 1.100 9/22/2030 HUF 58.500
Lehman Brothers Treasur 5.100 5/8/2017 HKD 0.100
United Kingdom Gilt 0.875 7/31/2033 GBP 71.615
Leonteq Securities AG/G 5.000 9/6/2023 CHF 71.390
Santander International 2.770 7/2/2035 USD 69.417
Ukraine Government Bond 15.840 2/26/2025 UAH 71.966
Realkredit Danmark A/S 0.500 10/1/2050 DKK 67.417
SNCF Reseau 1.100 10/27/2036 EUR 73.338
Cattles Ltd 8.125 7/5/2017 GBP 0.027
Lehman Brothers Treasur 13.000 7/25/2012 EUR 0.100
Lehman Brothers Treasur 2.500 8/23/2012 GBP 0.100
Lehman Brothers Treasur 0.500 12/20/2017 USD 0.100
Lehman Brothers Treasur 4.000 1/4/2011 USD 0.100
Lehman Brothers Treasur 4.800 11/16/2012 HKD 0.100
Lehman Brothers Treasur 3.500 12/20/2027 USD 0.100
Lehman Brothers Treasur 11.000 12/20/2017 AUD 0.100
Lehman Brothers Treasur 11.000 12/20/2017 AUD 0.100
Lehman Brothers Treasur 0.500 12/20/2017 AUD 0.100
Lehman Brothers Treasur 6.650 8/24/2011 AUD 0.100
Turkey Government Bond 11.000 2/24/2027 TRY 74.200
BLT Finance BV 12.000 2/10/2015 USD 10.500
State of Lower Austria 0.400 10/13/2050 EUR 45.266
Perrigo Co PLC 5.300 11/15/2043 USD 72.569
Virgolino de Oliveira F 11.750 2/9/2022 USD 0.628
Pescanova SA 8.750 2/17/2019 EUR 1.047
Elli Investments Ltd 12.250 6/15/2020 GBP 52.250
Landesbank Baden-Wuertt 0.905 4/1/2041 EUR 50.827
Aktia Bank Oyj 0.550 3/17/2031 EUR 74.578
Norddeutsche Landesbank 0.775 4/20/2033 EUR 68.997
Landesbank Hessen-Thuer 0.350 4/21/2031 EUR 74.512
Ville de Paris 0.395 12/18/2045 EUR 47.873
Bank Julius Baer & Co L 13.200 11/30/2023 CHF 23.000
Bank Julius Baer & Co L 8.600 11/30/2023 CHF 57.950
BNP Paribas Emissions- 9.400 9/21/2023 EUR 71.250
DZ Bank AG Deutsche Zen 24.300 9/22/2023 EUR 66.520
DZ Bank AG Deutsche Zen 22.200 12/22/2023 EUR 71.120
DZ Bank AG Deutsche Zen 24.700 12/22/2023 EUR 64.030
UBS AG/London 15.000 8/31/2023 CHF 32.950
Vontobel Financial Prod 20.500 9/22/2023 EUR 63.610
SG Issuer SA 5.000 5/30/2029 EUR 37.650
Credit Suisse AG/London 16.750 8/29/2023 CHF 34.010
Leonteq Securities AG/G 30.000 9/1/2023 CHF 29.010
Leonteq Securities AG/G 27.000 9/1/2023 CHF 34.120
Leonteq Securities AG/G 22.000 9/6/2023 USD 48.270
Leonteq Securities AG/G 17.000 12/5/2023 CHF 40.270
Bank Julius Baer & Co L 21.850 10/11/2023 CHF 26.000
UBS AG/London 11.750 10/5/2023 EUR 61.600
Zurcher Kantonalbank Fi 7.100 10/6/2023 CHF 54.160
DZ Bank AG Deutsche Zen 22.700 9/22/2023 EUR 68.860
Barclays Bank PLC 1.450 9/24/2038 MXN 26.588
Nederlandse Waterschaps 1.900 10/29/2048 EUR 74.318
Agence Francaise de Dev 1.911 10/26/2048 EUR 70.461
BNG Bank NV 1.938 5/3/2048 EUR 72.493
Vontobel Financial Prod 15.000 9/22/2023 EUR 74.620
Nordea Bank Abp 8.270 7/20/2027 SEK 73.625
Bank Vontobel AG 20.000 1/5/2024 CHF 43.600
DZ Bank AG Deutsche Zen 7.250 9/25/2024 EUR 71.200
DZ Bank AG Deutsche Zen 8.000 3/20/2024 EUR 74.620
DZ Bank AG Deutsche Zen 6.750 12/20/2023 EUR 71.830
Vontobel Financial Prod 18.000 9/22/2023 EUR 71.960
Vontobel Financial Prod 24.500 9/22/2023 EUR 72.870
Vontobel Financial Prod 23.500 9/22/2023 EUR 74.370
Vontobel Financial Prod 14.000 9/22/2023 EUR 69.850
Vontobel Financial Prod 16.500 9/22/2023 EUR 74.470
Vontobel Financial Prod 8.000 9/22/2023 EUR 67.850
Vontobel Financial Prod 19.500 9/22/2023 EUR 61.320
Vontobel Financial Prod 17.000 9/22/2023 EUR 64.960
Vontobel Financial Prod 16.000 9/22/2023 EUR 66.960
Vontobel Financial Prod 19.500 9/22/2023 EUR 16.990
Vontobel Financial Prod 11.500 9/22/2023 EUR 64.220
Vontobel Financial Prod 14.500 9/22/2023 EUR 59.530
Vontobel Financial Prod 14.000 9/22/2023 EUR 71.360
Vontobel Financial Prod 11.000 9/22/2023 EUR 73.570
Vontobel Financial Prod 10.500 9/22/2023 EUR 74.580
Vontobel Financial Prod 18.000 9/22/2023 EUR 69.750
Vontobel Financial Prod 20.500 9/22/2023 EUR 64.980
Muenchener Hypothekenba 0.620 7/22/2033 EUR 70.990
Landwirtschaftliche Ren 0.400 7/29/2036 EUR 69.721
DZ Bank AG Deutsche Zen 0.530 7/26/2033 EUR 67.628
DZ Bank AG Deutsche Zen 0.650 8/5/2036 EUR 68.251
Landesbank Baden-Wuertt 9.300 11/22/2024 EUR 72.890
Landesbank Baden-Wuertt 9.500 6/28/2024 EUR 69.140
HSBC Trinkaus & Burkhar 16.400 9/22/2023 EUR 55.220
HSBC Trinkaus & Burkhar 10.700 12/22/2023 EUR 59.550
HSBC Trinkaus & Burkhar 5.300 12/22/2023 EUR 66.240
HSBC Trinkaus & Burkhar 12.300 3/22/2024 EUR 60.390
HSBC Trinkaus & Burkhar 8.100 9/27/2024 EUR 66.050
HSBC Trinkaus & Burkhar 6.400 9/27/2024 EUR 69.370
HSBC Trinkaus & Burkhar 5.000 9/27/2024 EUR 73.530
HSBC Trinkaus & Burkhar 15.100 12/22/2023 EUR 58.570
HSBC Trinkaus & Burkhar 9.400 3/22/2024 EUR 63.560
HSBC Trinkaus & Burkhar 6.700 3/22/2024 EUR 67.690
Kuntarahoitus Oyj 1.200 7/21/2061 EUR 60.445
DZ Bank AG Deutsche Zen 0.640 12/30/2030 EUR 74.400
SG Issuer SA 0.015 11/7/2033 EUR 64.360
SG Issuer SA 0.021 8/15/2033 EUR 55.460
Landesbank Baden-Wuertt 2.100 8/22/2025 EUR 67.820
Landesbank Baden-Wuertt 3.000 8/22/2025 EUR 72.780
DZ Bank AG Deutsche Zen 0.500 8/18/2036 EUR 60.304
DZ Bank AG Deutsche Zen 0.110 8/17/2032 EUR 67.584
DekaBank Deutsche Giroz 3.550 8/11/2025 EUR 68.850
Hunland Feed Kft 2.880 7/21/2031 HUF 72.910
Norddeutsche Landesbank 0.400 8/13/2031 EUR 71.901
Norddeutsche Landesbank 1.000 8/13/2036 EUR 62.380
Landesbank Baden-Wuertt 3.050 8/28/2026 EUR 72.230
Landesbank Hessen-Thuer 0.550 8/19/2032 EUR 70.247
Landesbank Hessen-Thuer 0.450 8/19/2031 EUR 72.259
Landesbank Hessen-Thuer 0.750 8/19/2036 EUR 61.080
Norddeutsche Landesbank 0.850 8/25/2036 EUR 61.082
Leonteq Securities AG 12.000 10/19/2023 CHF 69.020
Landesbank Hessen-Thuer 1.650 5/27/2030 EUR 29.010
SG Issuer SA 1.600 4/21/2034 EUR 67.440
Nordea Bank Abp 2.000 4/29/2027 SEK 58.540
Raiffeisen Schweiz Geno 8.000 10/11/2023 CHF 62.280
Raiffeisen Schweiz Geno 5.900 4/11/2024 CHF 71.460
UBS AG/London 18.000 4/8/2024 CHF 62.700
BNP Paribas Emissions- 3.000 4/21/2026 EUR 58.350
Raiffeisen Bank Interna 8.311 9/20/2023 EUR 66.940
Raiffeisen Bank Interna 8.450 9/20/2023 EUR 73.710
Raiffeisen Bank Interna 8.311 9/20/2023 EUR 56.530
Raiffeisen Bank Interna 9.696 9/20/2023 EUR 52.940
Raiffeisen Bank Interna 11.082 9/20/2023 EUR 50.590
Bank Vontobel AG 10.250 10/9/2023 CHF 43.000
Bank Vontobel AG 8.750 10/9/2023 CHF 48.500
UBS AG/London 18.000 4/15/2024 USD 66.450
Leonteq Securities AG 5.000 10/12/2023 CHF 73.450
BNG Bank NV 1.890 11/14/2048 EUR 71.347
HSBC Trinkaus & Burkhar 8.600 9/27/2024 EUR 69.040
HSBC Trinkaus & Burkhar 6.700 9/27/2024 EUR 72.400
Leonteq Securities AG/G 12.000 10/10/2023 CHF 28.160
Leonteq Securities AG/G 23.200 10/10/2023 CHF 70.140
Raiffeisen Switzerland 6.000 10/7/2024 CHF 61.540
Erste Group Bank AG 2.000 4/20/2037 EUR 67.555
Zurcher Kantonalbank Fi 9.400 10/11/2023 EUR 73.090
SG Issuer SA 1.600 4/18/2034 EUR 73.520
Leonteq Securities AG 10.000 10/11/2023 CHF 71.880
UBS AG/London 17.400 4/14/2027 SEK 44.430
UBS AG/London 14.250 4/8/2024 USD 58.050
UBS AG/London 14.500 10/6/2023 CHF 27.520
UBS AG/London 10.750 4/8/2024 CHF 71.000
Zurcher Kantonalbank Fi 7.000 10/6/2023 CHF 71.130
Raiffeisen Bank Interna 9.696 9/20/2023 EUR 65.420
Raiffeisen Bank Interna 11.082 9/20/2023 EUR 64.320
Agence Francaise de Dev 1.954 11/13/2053 EUR 67.979
Bank Vontobel AG 14.000 10/9/2023 CHF 28.000
Bank Vontobel AG 19.000 4/9/2024 CHF 48.300
Vontobel Financial Prod 21.000 12/22/2023 EUR 73.760
Vontobel Financial Prod 22.000 9/22/2023 EUR 72.930
Vontobel Financial Prod 21.000 9/22/2023 EUR 75.000
Region de Bruxelles-Cap 1.646 11/2/2038 EUR 73.875
Landesbank Baden-Wuertt 2.650 10/27/2023 EUR 60.470
Leonteq Securities AG/G 28.180 10/6/2023 CHF 46.690
Leonteq Securities AG/G 23.000 10/10/2023 CHF 43.740
UBS AG/London 5.250 9/11/2023 EUR 67.160
Vontobel Financial Prod 25.200 2/5/2024 USD 72.940
Vontobel Financial Prod 25.750 2/5/2024 USD 74.510
Kommunekredit 2.200 9/27/2041 AUD 61.804
Raiffeisen Schweiz Geno 4.000 9/27/2024 CHF 21.620
Citigroup Global Market 14.760 10/2/2023 EUR 59.890
Region Auvergne-Rhone-A 0.543 9/28/2036 EUR 66.319
Region Provence-Alpes-C 0.569 10/1/2038 EUR 63.866
Region Occitanie 0.776 10/6/2041 EUR 60.443
Region Occitanie 0.580 10/6/2036 EUR 65.706
NRW Bank 0.300 9/29/2033 EUR 74.785
Muenchener Hypothekenba 0.562 9/30/2031 EUR 74.559
Nordea Bank Abp 0.620 10/14/2026 SEK 53.510
Landesbank Hessen-Thuer 0.780 10/4/2035 EUR 65.442
Landesbank Hessen-Thuer 0.800 1/18/2036 EUR 64.957
Deutsche Bank AG 2.530 10/7/2036 USD 66.722
Landesbank Hessen-Thuer 1.500 10/1/2036 EUR 64.700
Natixis SA 2.780 10/5/2036 AUD 64.136
Raiffeisen Schweiz Geno 5.850 10/4/2023 CHF 62.140
Citigroup Global Market 2.540 9/13/2024 EUR 59.050
Sberbank of Russia PJSC 0.010 10/3/2028 RUB 67.010
Citigroup Global Market 2.950 9/29/2041 AUD 59.521
Credit Agricole Corpora 15.700 10/7/2026 TRY 67.734
Erste Group Bank AG 1.010 10/7/2041 EUR 49.664
Landesbank Baden-Wuertt 7.800 1/24/2025 EUR 69.580
Kuntarahoitus Oyj 0.939 2/15/2050 EUR 63.561
Region de Bruxelles-Cap 0.760 9/15/2038 EUR 64.179
Kommunekredit 1.000 4/23/2035 SEK 72.638
Region de Bruxelles-Cap 1.020 4/30/2060 EUR 40.739
Basque Government 2.000 4/30/2059 EUR 59.304
Kreditanstalt fuer Wied 0.693 2/8/2050 EUR 50.199
Landesbank Hessen-Thuer 1.300 6/4/2035 EUR 70.712
Regie Autonome des Tran 1.070 4/28/2050 EUR 53.494
AutoWallis Nyrt 3.000 4/15/2030 HUF 71.890
Banque et Caisse d'Epar 1.270 5/7/2045 EUR 68.612
Vasakronan AB 2.162 5/4/2040 SEK 63.571
Landesbank Hessen-Thuer 1.000 6/12/2035 EUR 74.600
Kuntarahoitus Oyj 0.870 10/11/2050 EUR 61.940
Single Platform Investm 0.754 9/20/2039 EUR 59.783
Region of Pays de la Lo 0.729 5/12/2036 EUR 68.717
Landesbank Baden-Wuertt 0.327 5/7/2038 EUR 62.980
BPCE SFH SA 0.430 5/7/2040 EUR 59.748
Landesbank Baden-Wuertt 0.880 5/29/2034 EUR 70.003
Landesbank Baden-Wuertt 0.820 5/27/2032 EUR 73.943
DZ Bank AG Deutsche Zen 1.250 5/25/2035 EUR 69.841
DZ Bank AG Deutsche Zen 1.000 5/25/2032 EUR 74.589
Landesbank Baden-Wuertt 0.850 5/27/2033 EUR 71.956
DZ Bank AG Deutsche Zen 1.040 5/15/2034 EUR 70.127
Landesbank Hessen-Thuer 1.000 6/12/2035 EUR 67.800
Erste Group Bank AG 0.560 9/29/2033 EUR 63.894
Leonteq Securities AG/G 7.000 10/4/2023 CHF 40.540
Leonteq Securities AG 7.400 10/4/2023 CHF 64.760
Corner Banca SA 7.000 10/4/2023 CHF 71.210
DZ Bank AG Deutsche Zen 0.850 10/15/2036 EUR 70.026
Leonteq Securities AG/G 8.000 10/4/2023 USD 59.280
Greenergy Holding Vagyo 3.000 9/21/2031 HUF 72.032
BNP Paribas SA 1.275 10/2/2023 USD 11.670
Natixis SA 3.000 10/18/2051 USD 61.932
Landesbank Hessen-Thuer 0.650 10/6/2031 EUR 72.231
Muenchener Hypothekenba 1.495 10/5/2050 EUR 58.631
Commerzbank AG 0.900 10/7/2030 EUR 72.594
Commerzbank AG 0.800 10/5/2029 EUR 74.308
Landesbank Hessen-Thuer 0.700 11/4/2033 EUR 68.270
Leonteq Securities AG/G 8.090 10/4/2023 CHF 52.880
BNP Paribas SA 1.010 10/5/2035 EUR 65.772
Erste Group Bank AG 4.500 11/2/2025 EUR 47.000
Landesbank Hessen-Thuer 0.900 11/10/2036 EUR 64.197
Citigroup Global Market 1.150 10/6/2036 EUR 64.986
Citigroup Global Market 1.080 10/1/2036 EUR 64.636
Sberbank of Russia PJSC 0.010 10/5/2028 RUB 74.500
Landesbank Hessen-Thuer 1.250 11/10/2036 EUR 65.150
Berlin Hyp AG 0.400 10/7/2031 EUR 72.285
Citigroup Global Market 1.050 5/20/2036 EUR 64.641
Region Centre 0.662 5/12/2034 EUR 72.707
Region Centre 0.552 5/12/2033 EUR 74.361
DZ Bank AG Deutsche Zen 15.400 6/28/2024 EUR 60.000
DZ Bank AG Deutsche Zen 20.400 3/22/2024 EUR 56.140
DZ Bank AG Deutsche Zen 22.000 3/22/2024 EUR 55.730
UniCredit Bank AG 11.900 3/22/2024 EUR 66.220
UniCredit Bank AG 13.300 3/22/2024 EUR 65.060
UniCredit Bank AG 13.400 6/28/2024 EUR 64.050
Ministeries Van de Vlaa 1.863 2/28/2048 EUR 66.300
Single Platform Investm 0.840 6/20/2043 EUR 57.738
Landesbank Baden-Wuertt 0.780 4/21/2036 EUR 65.147
Credit Agricole CIB Fin 1.000 4/26/2036 EUR 65.488
Landesbank Baden-Wuertt 0.610 5/11/2034 EUR 67.857
Barclays Bank PLC 3.020 4/23/2036 NZD 72.932
UniCredit Bank AG 4.900 5/14/2024 USD 68.890
Raiffeisen-Landesbank T 1.140 4/26/2051 EUR 56.360
Caisse des Depots et Co 1.275 5/5/2051 EUR 54.851
DZ Bank AG Deutsche Zen 18.900 3/22/2024 EUR 56.660
DZ Bank AG Deutsche Zen 16.400 6/28/2024 EUR 59.400
DZ Bank AG Deutsche Zen 17.400 6/28/2024 EUR 58.870
DZ Bank AG Deutsche Zen 18.500 6/28/2024 EUR 58.480
DZ Bank AG Deutsche Zen 10.400 6/28/2024 EUR 70.190
UniCredit Bank AG 15.500 12/22/2023 EUR 61.380
BNP Paribas Emissions- 5.300 9/1/2023 EUR 62.790
Sberbank of Russia PJSC 0.010 2/26/2027 RUB 74.800
Leonteq Securities AG/G 11.000 8/28/2023 USD 55.170
Caisse des Depots et Co 1.140 2/25/2037 EUR 71.786
Nederlandse Waterschaps 1.437 3/4/2042 EUR 71.929
Credit Agricole CIB Fin 1.750 3/3/2037 EUR 72.890
Bank Vontobel AG 11.000 2/23/2024 CHF 27.500
Raiffeisen Bank Interna 14.384 9/20/2023 EUR 67.960
Vontobel Financial Prod 11.500 9/22/2023 EUR 58.540
UBS AG/London 7.250 2/12/2024 CHF 56.600
Vontobel Financial Prod 19.000 9/22/2023 EUR 69.200
Vontobel Financial Prod 16.500 9/22/2023 EUR 72.940
Vontobel Financial Prod 17.500 9/22/2023 EUR 70.950
Vontobel Financial Prod 15.500 9/22/2023 EUR 74.820
Vontobel Financial Prod 18.000 9/22/2023 EUR 61.260
Vontobel Financial Prod 20.500 9/22/2023 EUR 58.040
Vontobel Financial Prod 11.500 9/22/2023 EUR 73.760
Vontobel Financial Prod 17.000 9/22/2023 EUR 62.990
Vontobel Financial Prod 22.000 9/22/2023 EUR 71.750
HSBC Trinkaus & Burkhar 12.700 9/22/2023 EUR 69.200
HSBC Trinkaus & Burkhar 23.300 9/22/2023 EUR 59.250
HSBC Trinkaus & Burkhar 14.000 12/22/2023 EUR 28.790
DZ Bank AG Deutsche Zen 14.900 9/22/2023 EUR 72.730
DZ Bank AG Deutsche Zen 23.000 9/22/2023 EUR 50.730
DZ Bank AG Deutsche Zen 20.200 9/22/2023 EUR 57.940
Vontobel Financial Prod 13.000 9/22/2023 EUR 68.390
Vontobel Financial Prod 14.500 9/22/2023 EUR 66.660
Vontobel Financial Prod 11.500 9/22/2023 EUR 72.240
Vontobel Financial Prod 10.500 9/22/2023 EUR 74.390
Vontobel Financial Prod 17.500 9/22/2023 EUR 61.860
Vontobel Financial Prod 15.500 9/22/2023 EUR 64.980
Vontobel Financial Prod 18.500 9/22/2023 EUR 57.280
Vontobel Financial Prod 20.000 9/22/2023 EUR 63.540
Vontobel Financial Prod 18.000 9/22/2023 EUR 66.330
Vontobel Financial Prod 17.500 9/22/2023 EUR 67.420
Vontobel Financial Prod 19.000 9/22/2023 EUR 65.430
Vontobel Financial Prod 15.000 9/22/2023 EUR 71.810
UniCredit Bank AG 0.900 3/24/2036 EUR 66.130
Landesbank Hessen-Thuer 0.550 4/16/2031 EUR 73.814
DZ Bank AG Deutsche Zen 0.700 4/29/2036 EUR 69.659
Raiffeisen Switzerland 10.000 4/16/2024 USD 58.620
Citigroup Global Market 2.500 4/29/2025 EUR 51.670
Citigroup Global Market 2.560 4/29/2025 EUR 37.650
Nomura Bank Internation 1.130 4/23/2036 EUR 65.051
Otthon Centrum Holding 3.000 4/19/2031 HUF 69.900
DekaBank Deutsche Giroz 2.400 5/17/2024 EUR 40.460
UBS AG/London 7.800 4/20/2026 EUR 51.160
Landesbank Baden-Wuertt 0.540 4/21/2033 EUR 69.790
Landesbank Hessen-Thuer 1.050 5/28/2036 EUR 66.352
Bank Vontobel AG 7.501 10/16/2023 CHF 58.600
Single Platform Investm 1.000 7/8/2034 EUR 71.482
Credit Agricole Corpora 3.020 4/22/2036 AUD 71.329
Landesbank Baden-Wuertt 0.500 5/11/2032 EUR 71.779
Landesbank Baden-Wuertt 0.710 5/12/2036 EUR 64.366
Leonteq Securities AG 4.500 10/23/2023 CHF 16.170
Raiffeisen Switzerland 7.000 10/19/2023 CHF 52.500
DZ Bank AG Deutsche Zen 23.000 3/22/2024 EUR 62.340
Vontobel Financial Prod 12.250 3/22/2024 EUR 65.090
Deutsche Bank AG/London 12.780 3/16/2028 TRY 54.886
DZ HYP AG 1.528 3/12/2040 EUR 72.800
Caisse des Depots et Co 1.790 3/13/2048 EUR 66.293
DZ Bank AG Deutsche Zen 0.710 4/30/2035 EUR 64.893
DZ Bank AG Deutsche Zen 0.750 4/28/2036 EUR 70.212
Landesbank Hessen-Thuer 0.700 6/3/2033 EUR 70.444
Kreditanstalt fuer Wied 1.000 4/27/2041 EUR 68.426
Citigroup Global Market 3.200 4/27/2051 AUD 54.780
Opus Global Nyrt 3.200 4/29/2031 HUF 71.000
Landesbank Hessen-Thuer 0.650 4/28/2031 EUR 73.663
Caisse des Depots et Co 1.290 5/5/2051 EUR 55.102
Landeskreditbank Baden- 0.842 5/3/2041 EUR 67.424
UBS AG/London 13.500 4/29/2024 USD 59.420
Barclays Bank PLC 2.000 5/7/2036 MXN 27.184
Landesbank Baden-Wuertt 2.400 11/24/2023 EUR 72.880
Credit Agricole Corpora 15.000 6/18/2026 TRY 71.643
Single Platform Investm 0.750 8/15/2050 EUR 47.600
Region Nouvelle-Aquitai 0.777 5/12/2041 EUR 61.168
Landesbank Hessen-Thuer 0.500 6/4/2031 EUR 73.140
UniCredit Bank AG 4.850 5/23/2025 EUR 74.900
DZ Bank AG Deutsche Zen 0.200 6/2/2031 EUR 72.021
UniCredit Bank AG 0.610 5/2/2033 EUR 70.419
Landesbank Hessen-Thuer 0.680 10/12/2033 EUR 69.377
Natixis SA 4.530 3/16/2048 AUD 70.089
Natixis SA 4.540 3/27/2048 AUD 70.193
Arkea Home Loans SFH SA 1.534 3/31/2043 EUR 71.989
Bank of Ireland Mortgag 1.548 4/17/2043 EUR 71.140
Hypo Tirol Bank AG 1.530 4/10/2043 EUR 69.519
Societe Generale SA 2.300 4/20/2048 EUR 71.685
Goldman Sachs Internati 2.200 3/29/2048 EUR 58.569
Raiffeisen-Landesbank T 1.470 5/3/2069 EUR 51.445
Region de Bruxelles-Cap 0.930 5/3/2051 EUR 48.338
Landesbank Hessen-Thuer 0.800 7/30/2035 EUR 65.956
Credit Agricole Corpora 1.000 5/10/2036 EUR 66.184
Muenchener Hypothekenba 1.300 5/7/2061 EUR 54.434
UBS AG/London 13.000 5/6/2024 USD 57.930
Norddeutsche Landesbank 1.450 5/10/2039 EUR 61.697
Region Centre 0.725 12/12/2039 EUR 63.198
Autonomous Community of 1.550 5/11/2051 EUR 55.025
Region Centre 0.822 5/12/2041 EUR 58.978
Region Centre 0.834 5/12/2042 EUR 57.397
Autonomous Community of 1.250 10/31/2040 EUR 63.747
Landesbank Baden-Wuertt 4.100 6/27/2025 EUR 70.020
Vontobel Financial Prod 24.000 9/22/2023 EUR 74.030
Vontobel Financial Prod 24.500 9/22/2023 EUR 68.610
Vontobel Financial Prod 23.000 9/22/2023 EUR 71.880
Vontobel Financial Prod 10.000 9/22/2023 EUR 58.620
Vontobel Financial Prod 11.500 9/22/2023 EUR 71.110
Vontobel Financial Prod 18.000 9/22/2023 EUR 54.690
Bank Julius Baer & Co L 17.200 2/16/2024 CHF 66.400
Vontobel Financial Prod 20.000 9/22/2023 EUR 67.570
Vontobel Financial Prod 19.500 9/22/2023 EUR 59.600
Vontobel Financial Prod 15.500 9/22/2023 EUR 64.870
Vontobel Financial Prod 14.500 9/22/2023 EUR 66.870
Vontobel Financial Prod 13.500 9/22/2023 EUR 69.020
Vontobel Financial Prod 12.500 9/22/2023 EUR 71.270
HSBC Trinkaus & Burkhar 10.200 12/22/2023 EUR 73.370
HSBC Trinkaus & Burkhar 21.900 9/22/2023 EUR 62.560
HSBC Trinkaus & Burkhar 6.000 12/22/2023 EUR 38.420
Bank of Ireland Mortgag 1.574 3/31/2043 EUR 71.540
SG Issuer SA 8.700 1/20/2025 SEK 62.660
Natixis SA 4.510 4/12/2043 AUD 72.429
Raiffeisen-Landesbank S 1.922 4/19/2058 EUR 67.969
BPCE SFH SA 1.512 4/20/2043 EUR 69.496
Muenchener Hypothekenba 1.463 4/23/2041 EUR 72.145
Societe Generale SA 1.624 4/19/2035 EUR 74.680
BNG Bank NV 1.880 4/24/2048 EUR 71.576
Nederlandse Waterschaps 1.860 4/27/2048 EUR 73.705
BNG Bank NV 1.920 2/12/2048 EUR 73.173
UBS AG/London 13.750 12/11/2023 CHF 18.060
Caisse Francaise de Fin 1.668 2/23/2043 EUR 72.142
Swedbank Hypotek AB 1.669 2/27/2043 EUR 72.564
Bayerische Landesbank 0.520 11/26/2031 EUR 73.337
Zurcher Kantonalbank Fi 15.260 3/20/2024 CHF 64.700
Credit Suisse AG/London 15.250 3/20/2024 CHF 50.080
Credit Suisse AG/London 16.000 9/20/2023 CHF 42.670
Landesbank Baden-Wuertt 2.800 11/24/2023 EUR 74.920
Landesbank Hessen-Thuer 0.560 6/16/2031 EUR 73.441
Sovcombank Leasing OOO 9.250 5/19/2025 RUB 65.000
Leonteq Securities AG/G 5.200 11/29/2023 CHF 60.550
Leonteq Securities AG 7.800 11/29/2023 CHF 64.430
Leonteq Securities AG/G 10.000 11/29/2023 EUR 43.470
Raiffeisen Schweiz Geno 7.000 11/29/2023 CHF 58.030
Bank Vontobel AG 9.000 11/20/2023 EUR 69.500
Bank Vontobel AG 8.000 11/27/2023 EUR 31.900
Wirtschafts- und Infras 0.450 12/1/2038 EUR 64.567
Credit Suisse AG/London 16.500 3/22/2024 CHF 72.460
Landesbank Baden-Wuertt 3.250 1/2/2026 EUR 63.730
UBS AG/London 6.750 12/1/2023 CHF 63.700
UBS AG/London 7.750 12/1/2023 CHF 69.600
UBS AG/London 6.500 12/1/2023 CHF 62.550
UBS AG/London 7.250 12/1/2023 CHF 62.950
MET Hungary Solar Park 3.800 12/2/2031 HUF 74.100
Landesbank Hessen-Thuer 1.170 12/8/2036 EUR 66.814
Norddeutsche Landesbank 1.050 1/13/2037 EUR 62.731
Leonteq Securities AG/G 26.000 10/31/2023 CHF 28.240
UBS AG/London 16.500 10/26/2023 CHF 24.520
Vontobel Financial Prod 8.250 3/22/2024 EUR 63.345
DZ Bank AG Deutsche Zen 0.840 10/27/2031 EUR 73.970
DekaBank Deutsche Giroz 3.000 11/24/2025 EUR 66.500
DekaBank Deutsche Giroz 2.100 11/22/2024 EUR 67.620
DekaBank Deutsche Giroz 3.600 11/24/2023 EUR 70.550
Landesbank Baden-Wuertt 3.150 10/23/2026 EUR 73.260
Societe Generale SA 3.110 10/28/2041 AUD 54.342
Region Centre 0.924 11/2/2043 EUR 59.111
Landesbank Hessen-Thuer 0.750 10/27/2031 EUR 72.707
Region Centre 0.755 11/2/2037 EUR 65.480
Raiffeisen Schweiz Geno 8.700 10/25/2023 CHF 42.430
Republic of Ireland Int 1.210 10/27/2111 EUR 42.343
Landesbank Hessen-Thuer 0.650 4/28/2031 EUR 73.668
Caisse Francaise de Fin 1.699 1/18/2044 EUR 70.752
Corner Banca SA 22.000 9/19/2023 EUR 36.950
Lloyds Bank PLC 2.450 2/1/2049 EUR 63.837
UBS AG/London 16.000 9/14/2023 CHF 37.400
Bank Vontobel AG 13.000 3/18/2024 CHF 28.200
Bank Vontobel AG 16.500 12/18/2023 CHF 42.100
UniCredit Bank AG 6.600 11/18/2024 EUR 73.560
Landesbank Hessen-Thuer 2.000 11/25/2036 EUR 63.300
Communaute Francaise de 1.617 2/7/2039 EUR 71.357
Swedbank Hypotek AB 1.292 2/11/2037 EUR 74.480
Natixis SA 3.080 10/25/2036 AUD 66.621
NRW Bank 1.085 10/26/2041 EUR 68.228
UBS AG/London 17.500 10/26/2023 CHF 42.000
SG Issuer SA 3.000 10/10/2034 ZAR 44.145
Landesbank Hessen-Thuer 0.750 11/24/2031 EUR 72.468
Norddeutsche Landesbank 0.750 7/1/2031 EUR 74.540
Banque Internationale a 6.200 11/25/2024 CHF 73.870
DekaBank Deutsche Giroz 3.400 7/19/2024 EUR 37.520
UBS AG/London 6.750 11/24/2023 CHF 61.450
UBS AG/London 5.250 11/24/2023 CHF 69.800
UBS AG/London 6.750 11/24/2023 CHF 56.450
UBS AG/London 6.750 11/24/2023 CHF 62.350
Leonteq Securities AG/G 23.000 3/27/2024 CHF 56.980
NRW Bank 1.100 11/26/2041 EUR 68.670
Landesbank Hessen-Thuer 0.600 11/29/2030 EUR 74.752
Leonteq Securities AG/G 5.000 11/29/2023 CHF 70.910
Landesbank Hessen-Thuer 0.700 1/6/2032 EUR 74.437
Leonteq Securities AG 7.800 11/29/2023 CHF 61.440
Leonteq Securities AG/G 6.000 11/29/2023 USD 70.550
Raiffeisen Schweiz Geno 6.600 11/29/2023 CHF 64.350
Bank Vontobel AG 5.250 5/28/2024 CHF 60.900
Raiffeisen Schweiz Geno 5.500 11/29/2023 CHF 70.850
Raiffeisen Schweiz Geno 6.000 11/29/2023 CHF 60.580
Bayerische Landesbank 0.760 12/1/2031 EUR 74.928
Raiffeisen Schweiz Geno 3.550 11/29/2023 CHF 61.480
Citigroup Global Market 1.250 11/2/2036 EUR 66.049
HYPO NOE Landesbank fue 1.810 1/16/2034 EUR 74.502
Bank Vontobel AG 25.500 4/3/2024 CHF 58.200
UniCredit Bank AG 10.200 3/22/2024 EUR 74.640
UniCredit Bank AG 12.500 3/22/2024 EUR 70.880
Nederlandse Waterschaps 1.790 1/29/2049 EUR 72.032
Citigroup Global Market 1.180 12/23/2036 EUR 65.404
Single Platform Investm 1.340 6/20/2041 EUR 64.910
Landesbank Hessen-Thuer 1.510 4/3/2036 EUR 71.508
Raiffeisen Switzerland 15.870 9/5/2023 EUR 55.240
DZ Bank AG Deutsche Zen 18.900 3/22/2024 EUR 67.670
Credit Suisse AG/London 20.000 9/14/2023 CHF 40.060
BNP Paribas Emissions- 27.000 9/21/2023 EUR 71.940
Leonteq Securities AG/G 28.200 10/27/2023 CHF 39.920
Raiffeisen Switzerland 15.000 3/20/2024 CHF 66.830
DZ Bank AG Deutsche Zen 17.700 9/22/2023 EUR 70.850
DZ Bank AG Deutsche Zen 21.600 12/22/2023 EUR 74.010
BNP Paribas Emissions- 28.000 9/21/2023 EUR 68.500
BNP Paribas Emissions- 24.000 9/21/2023 EUR 71.770
BNP Paribas Emissions- 25.000 12/21/2023 EUR 73.650
BNP Paribas Emissions- 27.000 12/21/2023 EUR 71.240
Raiffeisen Switzerland 20.000 3/20/2024 CHF 66.430
Leonteq Securities AG/G 7.000 10/28/2024 CHF 73.930
Swissquote Bank SA 28.000 10/31/2023 CHF 28.210
SG Issuer SA 2.700 11/28/2034 ZAR 42.007
SG Issuer SA 3.300 9/26/2034 ZAR 46.029
Caisse Francaise de Fin 2.010 1/18/2049 EUR 72.701
HYPO NOE Landesbank fue 2.200 1/21/2044 EUR 65.274
UniCredit Bank AG 11.300 3/22/2024 EUR 72.640
UniCredit Bank AG 13.900 3/22/2024 EUR 69.430
Akademiska Hus AB 1.664 1/11/2045 EUR 74.528
DZ Bank AG Deutsche Zen 22.900 3/22/2024 EUR 64.710
Vontobel Financial Prod 17.000 6/28/2024 EUR 72.180
Vontobel Financial Prod 19.500 6/28/2024 EUR 69.490
DZ Bank AG Deutsche Zen 9.400 9/22/2023 EUR 68.090
DZ Bank AG Deutsche Zen 11.100 9/22/2023 EUR 29.150
DZ Bank AG Deutsche Zen 23.300 9/22/2023 EUR 69.610
DZ Bank AG Deutsche Zen 24.000 9/22/2023 EUR 37.490
Vontobel Financial Prod 20.500 9/22/2023 EUR 57.830
Vontobel Financial Prod 16.500 9/22/2023 EUR 63.400
Vontobel Financial Prod 19.500 9/22/2023 EUR 59.120
Vontobel Financial Prod 18.500 9/22/2023 EUR 60.470
Vontobel Financial Prod 12.500 9/22/2023 EUR 70.250
Vontobel Financial Prod 18.500 9/22/2023 EUR 74.400
Vontobel Financial Prod 10.500 9/22/2023 EUR 68.040
Norddeutsche Landesbank 0.450 5/14/2031 EUR 73.069
Landesbank Baden-Wuertt 0.350 4/8/2037 EUR 74.345
Societe Generale SA 2.970 4/15/2036 USD 65.018
Vontobel Financial Prod 17.000 9/22/2023 EUR 68.440
Vontobel Financial Prod 14.500 9/22/2023 EUR 73.060
Landesbank Hessen-Thuer 0.510 3/10/2032 EUR 72.293
Landesbank Hessen-Thuer 0.510 3/10/2032 EUR 72.293
National Grid Electrici 2.020 3/12/2032 AUD 73.770
NRW Bank 0.591 3/19/2040 EUR 65.584
DZ Bank AG Deutsche Zen 19.200 3/22/2024 EUR 61.090
DZ Bank AG Deutsche Zen 15.500 9/27/2024 EUR 66.360
DZ Bank AG Deutsche Zen 23.200 12/22/2023 EUR 57.780
Landesbank Hessen-Thuer 0.710 5/12/2034 EUR 66.828
TMK PJSC 7.350 2/28/2025 RUB 60.150
Credit Agricole Corpora 0.720 5/10/2033 EUR 69.764
Landesbank Hessen-Thuer 1.800 6/9/2036 EUR 63.900
Citigroup Global Market 0.610 5/5/2031 EUR 71.344
Landesbank Hessen-Thuer 0.900 6/10/2036 EUR 64.894
Hypo Vorarlberg Bank AG 0.410 5/6/2031 EUR 70.861
Muenchener Hypothekenba 1.185 5/5/2059 EUR 53.712
SG Issuer SA 0.900 4/7/2036 EUR 61.230
Norddeutsche Landesbank 1.000 6/10/2036 EUR 63.014
Region Wallonne Belgium 1.000 6/22/2045 EUR 55.864
Norddeutsche Landesbank 1.150 6/10/2036 EUR 64.381
Landesbank Hessen-Thuer 0.550 4/20/2033 EUR 69.989
Reneszansz Kofarago zrt 3.200 4/9/2031 HUF 73.000
Landesbank Hessen-Thuer 0.550 4/21/2031 EUR 73.782
Bank Vontobel AG 5.005 10/9/2023 CHF 58.900
Landesbank Baden-Wuertt 3.400 6/27/2025 EUR 71.780
Landesbank Baden-Wuertt 4.200 6/27/2025 EUR 69.640
Kreditanstalt fuer Wied 1.143 4/15/2050 EUR 62.018
LP Portfolio Vagyonkeze 2.800 11/30/2030 HUF 67.000
DZ Bank AG Deutsche Zen 16.900 6/28/2024 EUR 64.070
Bayerische Landesbank 0.360 4/9/2031 EUR 73.698
Bayerische Landesbank 0.490 4/9/2035 EUR 65.517
Bayerische Landesbank 0.430 4/8/2033 EUR 69.531
Banque Internationale a 1.020 3/25/2040 EUR 55.589
Landesbank Hessen-Thuer 1.000 3/20/2035 EUR 64.350
Leonteq Securities AG/G 21.000 5/22/2024 USD 68.020
Agence Francaise de Dev 1.900 11/16/2048 EUR 70.322
Region de Bruxelles-Cap 0.950 5/7/2049 EUR 50.740
Raiffeisenlandesbank Ob 0.632 5/26/2031 EUR 71.131
TransKomplektHolding JS 9.500 11/2/2028 RUB 60.100
Citigroup Global Market 1.010 6/18/2034 EUR 69.297
Citigroup Global Market 2.650 3/17/2040 USD 66.825
Landesbank Baden-Wuertt 3.500 12/22/2023 EUR 64.800
Natixis SA 2.700 5/25/2036 USD 71.461
Natixis SA 2.710 5/26/2036 USD 71.543
Leonteq Securities AG/G 6.000 11/27/2023 CHF 44.180
Leonteq Securities AG/G 24.200 9/8/2023 CHF 36.540
Agence Francaise de Dev 1.815 11/15/2044 EUR 72.158
Landesbank Baden-Wuertt 2.500 12/22/2023 EUR 73.640
Akademiska Hus AB 2.185 11/21/2038 SEK 74.456
Landesbank Baden-Wuertt 3.150 6/26/2026 EUR 70.840
Corner Banca SA 7.600 9/6/2023 EUR 71.370
Vontobel Financial Prod 20.000 9/22/2023 EUR 71.770
Vontobel Financial Prod 18.500 9/22/2023 EUR 74.190
Vontobel Financial Prod 16.000 9/22/2023 EUR 70.510
Vontobel Financial Prod 15.000 9/22/2023 EUR 72.500
Vontobel Financial Prod 17.000 9/22/2023 EUR 68.600
Caisse des Depots et Co 1.438 5/24/2051 EUR 57.545
Landesbank Baden-Wuertt 0.530 6/1/2032 EUR 71.855
Landesbank Baden-Wuertt 0.650 6/1/2034 EUR 68.059
Single Platform Investm 1.170 7/8/2034 EUR 73.496
Raiffeisen Schweiz Geno 6.500 11/17/2023 CHF 62.270
Republic of Ireland Int 1.180 5/25/2087 EUR 46.707
Erste Group Bank AG 1.310 2/23/2035 EUR 66.111
Erste Group Bank AG 1.360 2/23/2036 EUR 63.982
SG Issuer SA 0.300 2/16/2032 EUR 32.800
Citigroup Global Market 3.900 2/18/2042 AUD 69.094
Banque Internationale a 6.000 11/30/2023 CHF 69.880
Wirtschafts- und Infras 0.500 12/1/2038 EUR 65.804
Slovenska Sporitelna AS 4.490 EUR 63.700
UBS AG/London 5.250 12/1/2023 EUR 74.850
UBS AG/London 5.250 12/1/2023 CHF 71.750
Landesbank Hessen-Thuer 1.000 1/13/2037 EUR 65.061
SG Issuer SA 2.100 8/23/2033 EUR 18.110
Norddeutsche Landesbank 1.200 1/13/2037 EUR 64.091
Norddeutsche Landesbank 0.650 1/12/2032 EUR 72.669
Centre Hospitalier Univ 0.490 12/1/2036 EUR 67.386
NRW Bank 0.765 12/10/2036 EUR 71.879
Single Platform Investm 1.050 6/25/2044 EUR 60.541
Landesbank Hessen-Thuer 1.400 1/13/2037 EUR 65.200
Landesbank Baden-Wuertt 3.100 2/26/2027 EUR 70.430
UBS AG/London 16.000 3/11/2024 CHF 34.400
UBS AG/London 12.250 3/11/2024 EUR 55.450
Landshypotek Bank AB 1.815 2/25/2041 SEK 69.832
Societe Generale SA 3.050 11/23/2031 AUD 73.457
Landesbank Hessen-Thuer 0.700 1/12/2037 EUR 65.900
UBS AG/London 8.000 11/24/2023 CHF 62.550
UBS AG/London 7.000 11/24/2023 CHF 61.100
UBS AG/London 6.500 11/24/2023 CHF 61.050
UBS AG/London 8.000 11/24/2023 CHF 73.000
Leonteq Securities AG/G 25.000 3/27/2024 CHF 58.330
UBS AG/London 8.750 3/11/2024 USD 69.000
Leonteq Securities AG/G 25.000 9/12/2023 CHF 37.060
Leonteq Securities AG/G 17.000 9/19/2023 CHF 38.850
Muenchener Hypothekenba 1.543 11/16/2048 EUR 66.950
Natixis SA 2.700 5/21/2036 USD 71.328
DNB Boligkreditt AS 1.480 12/22/2042 EUR 69.919
SNCF Reseau 2.029 1/22/2048 EUR 69.940
SG Issuer SA 9.180 1/20/2025 SEK 63.270
Vontobel Financial Prod 12.750 3/22/2024 EUR 66.690
SG Issuer SA 7.600 1/20/2025 SEK 62.580
Communaute Francaise de 1.976 2/5/2048 EUR 69.491
DNB Boligkreditt AS 1.634 2/13/2043 EUR 71.766
Deutsche Apotheker-und 1.715 2/13/2037 EUR 71.183
Communaute Francaise de 1.940 2/19/2048 EUR 68.911
Communaute Francaise de 1.930 1/15/2048 EUR 68.834
Caisse des Depots et Co 1.930 1/22/2048 EUR 67.663
Communaute Francaise de 1.660 1/22/2038 EUR 74.876
Raiffeisenverband Salzb 1.500 2/1/2038 EUR 74.425
Raiffeisenverband Salzb 1.617 1/29/2048 EUR 66.214
DNB Boligkreditt AS 1.594 1/29/2043 EUR 72.169
BNG Bank NV 1.750 2/2/2043 EUR 74.604
Hemso Fastighets AB 2.000 2/15/2033 EUR 72.342
Leonteq Securities AG/G 7.000 6/7/2024 CHF 74.990
Communaute Francaise de 1.652 1/26/2038 EUR 73.165
Bank Vontobel AG 13.000 8/30/2023 CHF 31.200
Communaute Francaise de 1.674 2/5/2038 EUR 74.970
Nederlandse Waterschaps 1.770 12/23/2047 EUR 74.946
Bayerische Landesbank 1.716 1/8/2037 EUR 73.873
Region de Bruxelles-Cap 1.750 1/17/2048 EUR 66.028
DNB Boligkreditt AS 1.455 1/11/2038 EUR 74.729
Deutsche Apotheker-und 1.616 1/15/2038 EUR 68.630
Leonteq Securities AG/G 27.000 2/16/2024 CHF 52.360
UniCredit Bank AG 9.200 9/22/2023 EUR 71.220
Raiffeisen Switzerland 7.200 11/30/2023 CHF 67.420
Bank Vontobel AG 10.000 9/11/2023 CHF 21.100
Vontobel Financial Prod 18.000 9/22/2023 EUR 66.870
Erste Group Bank AG 1.065 5/17/2041 EUR 50.843
Raiffeisenverband Salzb 1.853 2/5/2049 EUR 69.391
Region de Bruxelles-Cap 1.500 2/15/2039 EUR 73.439
La Banque Postale Home 1.427 2/11/2039 EUR 73.505
Caisse des Depots et Co 1.820 2/7/2049 EUR 65.261
Nederlandse Waterschaps 1.850 2/11/2059 EUR 67.160
BPCE SA 1.850 2/8/2036 EUR 74.177
BPCE SFH SA 1.500 2/7/2039 EUR 74.597
Raiffeisenlandesbank Ob 0.774 10/29/2031 EUR 70.741
SG Issuer SA 4.500 1/21/2032 EUR 69.050
UniCredit Bank AG 5.150 11/24/2025 EUR 71.910
Landesbank Hessen-Thuer 0.750 12/2/2036 EUR 66.600
Single Platform Investm 3.000 6/21/2047 USD 66.092
Landesbank Baden-Wuertt 0.530 11/10/2031 EUR 73.396
Raiffeisen Schweiz Geno 5.050 10/21/2024 CHF 64.730
Sberbank of Russia PJSC 0.010 10/20/2028 RUB 73.600
Erste Group Bank AG 1.760 2/15/2034 EUR 72.181
Sberbank of Russia PJSC 0.010 10/21/2026 RUB 74.010
Landesbank Hessen-Thuer 0.820 11/15/2034 EUR 68.058
SG Issuer SA 5.000 5/23/2024 EUR 53.070
Agence Francaise de Dev 1.914 11/22/2048 EUR 70.529
Agence Francaise de Dev 1.955 11/21/2053 EUR 68.607
BNG Bank NV 1.885 11/26/2048 EUR 71.247
BNG Bank NV 1.870 11/26/2048 EUR 71.278
Caisse des Depots et Co 1.820 11/26/2048 EUR 66.274
Raiffeisen Landesbank V 1.385 12/14/2037 EUR 74.624
Raiffeisen Landesbank V 1.385 12/14/2037 EUR 74.624
DNB Boligkreditt AS 1.355 12/18/2037 EUR 73.726
Bayerische Landesbank 1.680 12/18/2037 EUR 72.388
Region Centre 2.156 6/2/2042 EUR 74.298
Region Centre 2.162 6/2/2043 EUR 73.284
SG Issuer SA 1.250 2/28/2033 EUR 41.910
DZ Bank AG Deutsche Zen 0.380 2/8/2033 EUR 74.121
DZ Bank AG Deutsche Zen 5.000 9/18/2023 EUR 65.440
Landesbank Baden-Wuertt 7.200 8/23/2024 EUR 35.210
Landesbank Baden-Wuertt 9.200 8/23/2024 EUR 33.050
Vontobel Financial Prod 10.250 9/22/2023 EUR 70.260
Landesbank Baden-Wuertt 6.200 10/27/2023 EUR 72.400
Landesbank Baden-Wuertt 2.500 10/27/2023 EUR 48.700
Landesbank Baden-Wuertt 3.250 10/27/2023 EUR 44.610
Landesbank Baden-Wuertt 5.000 10/27/2023 EUR 53.740
Landesbank Baden-Wuertt 8.200 10/27/2023 EUR 41.920
Landesbank Baden-Wuertt 4.250 10/27/2023 EUR 23.490
Landesbank Baden-Wuertt 6.200 10/27/2023 EUR 20.350
Landesbank Baden-Wuertt 7.600 10/27/2023 EUR 18.800
Landesbank Baden-Wuertt 9.000 10/27/2023 EUR 17.540
Landesbank Baden-Wuertt 7.000 10/27/2023 EUR 69.550
Landesbank Baden-Wuertt 3.000 10/27/2023 EUR 67.940
Landesbank Baden-Wuertt 5.600 10/27/2023 EUR 73.890
Landesbank Baden-Wuertt 6.500 10/27/2023 EUR 39.270
Landesbank Baden-Wuertt 8.000 10/27/2023 EUR 35.680
Landesbank Baden-Wuertt 4.250 10/27/2023 EUR 72.620
Landesbank Baden-Wuertt 3.100 10/27/2023 EUR 66.660
Landesbank Baden-Wuertt 4.700 10/27/2023 EUR 59.360
Landesbank Baden-Wuertt 3.500 10/27/2023 EUR 64.030
Landesbank Baden-Wuertt 3.150 10/27/2023 EUR 69.950
Landesbank Baden-Wuertt 4.800 10/27/2023 EUR 63.080
Landesbank Baden-Wuertt 4.000 10/27/2023 EUR 72.830
Landesbank Baden-Wuertt 6.250 10/27/2023 EUR 61.140
Landesbank Baden-Wuertt 2.250 10/27/2023 EUR 69.220
Landesbank Baden-Wuertt 2.850 10/27/2023 EUR 61.980
Corner Banca SA 10.000 11/1/2023 CHF 64.600
Leonteq Securities AG 9.000 11/1/2023 CHF 72.270
Sberbank of Russia PJSC 0.010 11/2/2026 RUB 72.010
Raiffeisen Schweiz Geno 6.000 11/1/2023 CHF 70.040
Basler Kantonalbank 7.000 11/10/2023 CHF 63.020
Bank Vontobel AG 6.500 10/2/2023 CHF 61.600
UBS AG/London 7.850 11/2/2023 USD 41.150
BNP Paribas SA 1.000 11/5/2036 EUR 65.601
Societe Generale SA 7.500 11/3/2026 USD 15.950
Landesbank Baden-Wuertt 0.610 11/3/2031 EUR 74.122
DekaBank Deutsche Giroz 4.000 11/8/2024 EUR 63.410
Citigroup Global Market 1.010 12/1/2034 EUR 67.782
Sberbank of Russia PJSC 0.010 11/2/2028 RUB 72.100
UBS AG/London 7.250 11/3/2023 CHF 56.900
Citigroup Global Market 1.380 11/4/2041 EUR 60.496
Landesbank Hessen-Thuer 0.730 11/10/2031 EUR 74.916
Natixis SA 3.300 11/4/2036 AUD 68.488
Single Platform Investm 0.363 2/15/2041 EUR 53.247
Region of Pays de la Lo 0.334 3/9/2033 EUR 73.066
Region of Pays de la Lo 0.427 3/9/2034 EUR 71.075
Kuntarahoitus Oyj 0.270 3/3/2034 EUR 73.432
NRW Bank 0.200 3/1/2034 EUR 72.885
Region of Pays de la Lo 0.449 3/9/2035 EUR 68.661
Societe Generale SA 2.630 3/2/2036 USD 62.747
Landesbank Baden-Wuertt 0.580 3/2/2033 EUR 70.421
Landesbank Baden-Wuertt 0.210 2/26/2031 EUR 71.517
Landesbank Baden-Wuertt 0.460 3/3/2031 EUR 74.496
Barclays Bank PLC 2.560 3/9/2036 USD 67.830
NRW Bank 1.180 3/3/2051 EUR 62.160
Banque Internationale a 1.300 3/4/2041 EUR 57.065
BNG Bank NV 2.300 3/3/2036 AUD 70.049
Natixis SA 2.800 3/3/2041 USD 67.137
Goldman Sachs Internati 2.200 2/1/2036 USD 65.756
Premium Green PLC 1.050 9/15/2035 EUR 69.562
Landesbank Baden-Wuertt 4.100 6/27/2025 EUR 71.920
Vontobel Financial Prod 5.000 3/26/2024 EUR 49.680
Department of Bouches d 0.561 9/15/2035 EUR 71.018
BPCE SA 2.320 3/4/2036 USD 63.997
Department of Bouches d 0.558 3/15/2035 EUR 72.209
Landesbank Hessen-Thuer 1.400 3/5/2036 EUR 63.200
Muenchener Hypothekenba 1.000 6/30/2037 EUR 66.969
Societe Generale SA 21.000 4/3/2024 USD 5.630
Landesbank Hessen-Thuer 0.950 4/9/2036 EUR 65.699
Landesbank Hessen-Thuer 0.560 3/12/2031 EUR 74.139
Single Platform Investm 2.395 3/3/2037 NOK 69.581
UniCredit Bank AG 5.300 4/8/2025 EUR 66.810
Sberbank of Russia PJSC 0.010 3/6/2028 RUB 73.300
Credit Agricole Corpora 11.640 3/24/2027 TRY 60.907
Erste Group Bank AG 5.500 8/2/2025 EUR 46.500
UniCredit Bank AG 4.650 7/30/2024 EUR 72.340
UniCredit Bank AG 3.950 7/30/2024 EUR 72.850
Norddeutsche Landesbank 0.925 7/23/2036 EUR 62.080
Landesbank Hessen-Thuer 0.900 8/5/2036 EUR 64.560
Landesbank Baden-Wuertt 2.600 1/26/2024 EUR 63.340
Landesbank Baden-Wuertt 3.000 1/26/2024 EUR 73.910
DZ Bank AG Deutsche Zen 1.510 6/25/2031 EUR 74.720
Region de Bruxelles-Cap 0.761 7/2/2041 EUR 56.550
Region de Bruxelles-Cap 0.796 7/2/2042 EUR 57.541
Region de Bruxelles-Cap 0.829 7/2/2043 EUR 56.328
DZ Bank AG Deutsche Zen 0.390 7/2/2031 EUR 71.157
BNP Paribas SA 0.720 7/1/2031 EUR 74.453
Leonteq Securities AG/G 6.000 1/9/2024 CHF 49.080
Norddeutsche Landesbank 0.500 7/28/2031 EUR 72.709
Landesbank Hessen-Thuer 1.750 8/4/2036 EUR 63.400
Norddeutsche Landesbank 0.700 8/3/2033 EUR 67.794
Norddeutsche Landesbank 0.950 8/3/2033 EUR 69.668
Banque Internationale a 1.600 7/7/2036 EUR 71.291
Region de Bruxelles-Cap 1.029 1/14/2048 EUR 53.310
Single Platform Investm 1.500 3/20/2051 EUR 60.503
Landesbank Baden-Wuertt 3.300 7/25/2025 EUR 71.060
Norddeutsche Landesbank 1.390 7/9/2038 EUR 62.306
Landesbank Hessen-Thuer 0.520 7/14/2031 EUR 72.969
Region de Bruxelles-Cap 1.310 12/15/2069 EUR 41.824
Vontobel Financial Prod 17.500 9/22/2023 EUR 73.170
Vontobel Financial Prod 25.000 9/22/2023 EUR 71.440
Vontobel Financial Prod 15.000 9/22/2023 EUR 69.020
Vontobel Financial Prod 18.500 9/22/2023 EUR 70.780
Vontobel Financial Prod 9.000 9/22/2023 EUR 69.860
Vontobel Financial Prod 14.000 9/22/2023 EUR 57.000
Vontobel Financial Prod 18.500 9/22/2023 EUR 63.140
Vontobel Financial Prod 12.500 9/22/2023 EUR 73.820
Vontobel Financial Prod 17.500 9/22/2023 EUR 55.530
Vontobel Financial Prod 13.500 9/22/2023 EUR 70.760
Vontobel Financial Prod 12.000 9/22/2023 EUR 72.610
Vontobel Financial Prod 15.000 9/22/2023 EUR 69.100
Vontobel Financial Prod 12.500 9/22/2023 EUR 71.650
Single Platform Investm 2.250 2/15/2044 EUR 74.994
Vontobel Financial Prod 21.000 9/22/2023 EUR 70.670
Vontobel Financial Prod 13.000 9/22/2023 EUR 60.500
UBS AG/London 19.000 7/15/2024 CHF 70.900
Landesbank Baden-Wuertt 9.300 5/24/2024 EUR 73.330
DZ Bank AG Deutsche Zen 7.250 12/20/2023 EUR 59.710
Landesbank Baden-Wuertt 3.000 2/27/2026 EUR 61.590
DZ Bank AG Deutsche Zen 1.250 2/23/2037 EUR 67.450
Bank Vontobel AG 10.750 2/12/2024 CHF 61.200
UBS AG/London 8.250 9/4/2023 CHF 47.850
Raiffeisenlandesbank Ob 1.480 2/17/2042 EUR 69.753
Landesbank Baden-Wuertt 7.200 6/28/2024 EUR 74.580
Luzerner Kantonalbank A 3.600 7/6/2026 EUR 56.430
Landesbank Hessen-Thuer 1.500 12/16/2036 EUR 66.600
UBS AG/London 7.250 11/10/2023 CHF 55.600
UBS AG/London 8.500 11/10/2023 CHF 10.920
Raiffeisen Switzerland 8.200 11/8/2023 EUR 68.730
Landesbank Baden-Wuertt 3.000 11/28/2025 EUR 71.930
Metropolis of Grenoble- 0.700 11/18/2033 EUR 74.936
Citigroup Global Market 1.370 7/27/2051 EUR 52.852
Societe Generale SA 5.500 8/1/2024 USD 47.400
Landesbank Hessen-Thuer 0.900 8/4/2036 EUR 64.526
Natixis SA 2.930 7/29/2051 AUD 49.745
Citigroup Global Market 0.660 8/25/2033 EUR 67.823
Norddeutsche Landesbank 0.550 8/30/2033 EUR 66.410
Ville de Paris 0.921 5/26/2053 EUR 47.704
Vontobel Financial Prod 18.500 9/22/2023 EUR 68.680
Vontobel Financial Prod 19.500 9/22/2023 EUR 66.960
Vontobel Financial Prod 16.500 9/22/2023 EUR 72.590
Vontobel Financial Prod 17.500 9/22/2023 EUR 70.600
UniCredit Bank AG 16.550 8/18/2025 USD 55.430
Swissquote Bank SA 23.600 9/26/2023 CHF 41.280
AlphaNotes ETP Dac 1.000 9/15/2032 USD 65.709
Bank Vontobel AG 7.500 10/2/2023 CHF 49.600
UBS AG/London 16.000 4/1/2024 USD 70.150
UBS AG/London 16.000 10/2/2023 CHF 43.700
Leonteq Securities AG/G 10.000 10/11/2023 USD 74.720
Nederlandse Waterschaps 1.870 11/8/2057 EUR 70.537
Leonteq Securities AG/G 11.000 10/11/2023 USD 74.620
Nordea Bank Abp 8.260 7/20/2028 SEK 71.050
Leonteq Securities AG/G 25.800 9/29/2023 CHF 36.160
Landesbank Baden-Wuertt 9.250 3/22/2024 EUR 45.020
Landesbank Baden-Wuertt 11.000 3/22/2024 EUR 41.760
Landesbank Baden-Wuertt 12.500 3/22/2024 EUR 39.320
Landesbank Hessen-Thuer 1.200 2/9/2052 EUR 60.279
Wirtschafts- und Infras 0.650 2/8/2039 EUR 67.621
Muenchener Hypothekenba 1.230 2/11/2042 EUR 68.704
Norddeutsche Landesbank 1.250 3/8/2034 EUR 71.144
Caisse des Depots et Co 1.150 2/3/2042 EUR 62.267
Bank Vontobel AG 7.500 2/5/2024 CHF 65.400
Norddeutsche Landesbank 1.300 3/16/2037 EUR 65.118
Landesbank Baden-Wuertt 3.000 2/27/2026 EUR 73.410
Leonteq Securities AG/G 8.000 2/14/2024 CHF 72.960
DZ Bank AG Deutsche Zen 1.030 2/23/2034 EUR 71.340
Landesbank Baden-Wuertt 3.000 2/27/2026 EUR 67.570
Caisse Francaise de Fin 0.865 2/17/2042 EUR 62.716
UBS AG/London 9.500 9/4/2023 CHF 72.150
NRW Bank 1.341 2/17/2039 EUR 74.931
DZ Bank AG Deutsche Zen 12.400 9/27/2024 EUR 66.570
DZ Bank AG Deutsche Zen 13.300 9/27/2024 EUR 65.850
DZ Bank AG Deutsche Zen 14.200 9/27/2024 EUR 65.180
DZ Bank AG Deutsche Zen 15.100 9/27/2024 EUR 64.570
DZ Bank AG Deutsche Zen 16.000 9/27/2024 EUR 64.080
DZ Bank AG Deutsche Zen 17.000 9/27/2024 EUR 63.750
DZ Bank AG Deutsche Zen 18.000 9/27/2024 EUR 63.480
DZ Bank AG Deutsche Zen 8.800 9/27/2024 EUR 72.840
DZ Bank AG Deutsche Zen 9.400 9/27/2024 EUR 71.230
DZ Bank AG Deutsche Zen 10.100 9/27/2024 EUR 69.870
DZ Bank AG Deutsche Zen 10.800 9/27/2024 EUR 68.590
DZ Bank AG Deutsche Zen 11.600 9/27/2024 EUR 67.560
Bank Julius Baer & Co L 22.300 9/26/2023 CHF 41.350
SG Issuer SA 1.750 4/21/2034 EUR 61.950
Bank Julius Baer & Co L 6.750 8/29/2023 CHF 73.900
Zurcher Kantonalbank Fi 8.500 2/23/2024 CHF 73.710
Region Occitanie 1.282 5/25/2040 EUR 66.148
Landesbank Hessen-Thuer 1.350 4/6/2034 EUR 74.359
Nordea Bank Abp 2.000 3/25/2027 SEK 65.140
BNP Paribas Emissions- 4.320 2/22/2024 EUR 62.150
Erste Group Bank AG 1.650 3/23/2037 EUR 64.276
Landesbank Baden-Wuertt 5.400 12/22/2023 EUR 67.660
Landesbank Baden-Wuertt 3.350 10/27/2023 EUR 68.360
Landesbank Baden-Wuertt 4.700 10/27/2023 EUR 62.100
Landesbank Baden-Wuertt 2.300 2/28/2025 EUR 66.050
Landesbank Baden-Wuertt 2.200 4/28/2025 EUR 67.080
Landesbank Baden-Wuertt 2.100 12/22/2023 EUR 60.250
DekaBank Deutsche Giroz 2.400 9/1/2023 EUR 52.830
DekaBank Deutsche Giroz 2.000 8/30/2024 EUR 62.310
DekaBank Deutsche Giroz 2.400 3/14/2025 EUR 70.830
Landesbank Baden-Wuertt 4.200 3/22/2024 EUR 69.180
Landesbank Baden-Wuertt 3.700 3/22/2024 EUR 70.860
Landesbank Baden-Wuertt 5.250 3/22/2024 EUR 64.390
Landesbank Baden-Wuertt 3.000 3/22/2024 EUR 69.290
Landesbank Baden-Wuertt 4.500 3/22/2024 EUR 71.840
Landesbank Baden-Wuertt 5.600 3/22/2024 EUR 67.890
UBS AG/London 4.000 5/26/2026 SEK 53.450
UBS AG/London 4.000 8/3/2026 SEK 44.090
Leonteq Securities AG/G 6.000 2/7/2024 CHF 55.610
Leonteq Securities AG/G 7.000 2/7/2024 CHF 69.630
DZ Bank AG Deutsche Zen 2.120 12/29/2031 EUR 73.230
Landesbank Baden-Wuertt 0.720 2/25/2032 EUR 74.852
Muenchener Hypothekenba 1.275 2/11/2042 EUR 69.203
Landesbank Hessen-Thuer 1.350 3/16/2037 EUR 68.238
Landesbank Hessen-Thuer 1.150 3/9/2037 EUR 66.334
Ville de Paris 1.165 6/9/2053 EUR 50.236
Norddeutsche Landesbank 1.500 3/16/2037 EUR 66.693
Landesbank Hessen-Thuer 0.730 2/11/2032 EUR 74.897
Landesbank Hessen-Thuer 2.000 3/16/2037 EUR 67.100
DZ Bank AG Deutsche Zen 1.300 12/29/2031 EUR 73.420
Banque Internationale a 1.250 2/18/2041 EUR 56.795
Banque Internationale a 1.000 2/18/2036 EUR 63.078
Credit Agricole CIB Fin 0.500 2/23/2033 EUR 69.764
DZ Bank AG Deutsche Zen 0.230 2/19/2031 EUR 73.152
Caisse des Depots et Co 0.571 2/18/2041 EUR 58.976
Wellis Magyarorszag Ker 3.000 2/26/2031 HUF 67.408
Landesbank Baden-Wuertt 3.200 3/27/2026 EUR 69.770
DZ Bank AG Deutsche Zen 0.240 2/24/2031 EUR 72.994
DZ Bank AG Deutsche Zen 0.500 2/24/2031 EUR 73.676
VTB Bank PJSC 5.000 USD 45.000
DZ Bank AG Deutsche Zen 1.370 12/30/2030 EUR 74.460
Kreditanstalt fuer Wied 0.680 2/23/2051 EUR 53.991
Hamburgische Investitio 0.372 2/22/2041 EUR 61.063
Landesbank Hessen-Thuer 0.300 3/24/2031 EUR 74.450
BNP Paribas SA 0.857 2/22/2036 EUR 63.050
Kuntarahoitus Oyj 0.858 2/22/2051 EUR 61.402
Single Platform Investm 1.000 10/31/2040 EUR 61.496
Wirtschafts- und Infras 0.245 2/25/2036 EUR 68.269
Berlin Hyp AG 1.057 2/21/2059 EUR 52.421
EFG International Finan 4.500 2/26/2024 USD 46.090
Credit Agricole Corpora 2.800 2/23/2041 AUD 61.910
Standard Chartered Bank 2.470 2/24/2036 USD 71.168
DZ Bank AG Deutsche Zen 0.630 12/30/2030 EUR 73.500
Kreditanstalt fuer Wied 0.650 2/24/2041 EUR 64.500
NRW Bank 0.675 2/25/2041 EUR 64.000
Landesbank Baden-Wuertt 3.000 3/22/2024 EUR 74.050
Landesbank Baden-Wuertt 5.100 3/22/2024 EUR 58.560
NRW Bank 1.510 3/7/2046 EUR 70.545
UBS AG/London 7.640 4/20/2026 SEK 49.950
Kommunekredit 1.062 9/9/2041 EUR 68.304
Kommunekredit 0.991 3/9/2037 EUR 74.210
Landesbank Hessen-Thuer 2.000 3/10/2037 EUR 69.600
Raiffeisen Schweiz Geno 7.300 3/4/2024 CHF 57.890
DekaBank Deutsche Giroz 4.100 4/2/2026 EUR 73.320
Sberbank of Russia PJSC 0.010 7/24/2028 RUB 72.500
Citigroup Global Market 1.040 8/4/2036 EUR 64.072
Landesbank Baden-Wuertt 2.000 8/22/2025 EUR 71.950
Landesbank Baden-Wuertt 4.000 8/22/2025 EUR 69.450
Landesbank Baden-Wuertt 3.250 8/22/2025 EUR 60.370
Landesbank Saar 0.400 7/28/2031 EUR 73.946
UniCredit Bank AG 4.100 9/1/2025 EUR 74.880
Landesbank Baden-Wuertt 0.600 3/5/2036 EUR 63.710
Landesbank Baden-Wuertt 0.520 3/6/2034 EUR 67.536
Landesbank Baden-Wuertt 0.420 3/5/2032 EUR 71.668
Landesbank Baden-Wuertt 2.500 9/22/2023 EUR 73.480
UBS Group AG 2.370 2/25/2036 USD 67.742
Natixis SA 2.500 3/4/2036 USD 70.373
Region of Pays de la Lo 0.570 3/10/2036 EUR 67.420
Citigroup Global Market 1.000 3/19/2041 EUR 56.142
Citigroup Global Market 0.520 3/19/2033 EUR 67.960
Credit Agricole Corpora 0.310 2/24/2033 EUR 68.288
SG Issuer SA 0.021 6/14/2033 EUR 74.470
DZ Bank AG Deutsche Zen 20.900 3/22/2024 EUR 71.640
Bank Julius Baer & Co L 15.000 8/29/2023 CHF 40.800
Nederlandse Waterschaps 1.500 3/10/2042 EUR 72.246
Vontobel Financial Prod 7.700 8/30/2023 EUR 61.060
Region Occitanie 1.229 5/25/2038 EUR 72.058
Region Occitanie 1.238 3/2/2039 EUR 70.716
Landesbank Baden-Wuertt 4.200 12/22/2023 EUR 72.610
Landesbank Baden-Wuertt 2.400 6/27/2025 EUR 61.260
Landesbank Baden-Wuertt 3.600 2/27/2026 EUR 72.040
DekaBank Deutsche Giroz 2.300 9/20/2024 EUR 59.350
DekaBank Deutsche Giroz 4.150 7/26/2024 EUR 56.710
Norddeutsche Landesbank 0.900 12/8/2031 EUR 74.614
Department of Loiret Fr 0.915 11/23/2043 EUR 58.905
Muenchener Hypothekenba 1.692 11/6/2051 EUR 61.412
Landesbank Hessen-Thuer 1.000 12/10/2036 EUR 65.067
Vontobel Financial Prod 8.400 12/4/2023 EUR 69.020
Bank Vontobel AG 8.500 11/3/2023 CHF 34.200
Leonteq Securities AG/G 6.000 11/8/2023 CHF 63.310
Norddeutsche Landesbank 1.150 12/6/2033 EUR 70.742
Norddeutsche Landesbank 1.250 12/3/2036 EUR 64.715
Republic of Ireland Int 1.100 11/12/2096 EUR 41.628
UBS AG/London 9.500 11/8/2023 USD 9.900
Norddeutsche Landesbank 0.650 12/3/2031 EUR 72.998
UBS AG/London 6.250 11/10/2023 CHF 63.300
UBS AG/London 9.250 11/10/2023 CHF 59.300
Vontobel Financial Prod 4.000 11/30/2023 EUR 64.750
DZ Bank AG Deutsche Zen 0.180 12/7/2032 EUR 72.704
DZ Bank AG Deutsche Zen 0.810 12/30/2030 EUR 73.430
Kreditanstalt fuer Wied 0.880 12/7/2050 EUR 57.073
Region Centre 0.390 12/4/2042 EUR 51.517
DZ Bank AG Deutsche Zen 1.140 12/30/2030 EUR 72.770
DZ Bank AG Deutsche Zen 0.880 12/30/2030 EUR 71.810
Oberoesterreichische La 0.763 12/15/2050 EUR 50.742
Norddeutsche Landesbank 0.825 1/14/2036 EUR 62.141
Aktia Bank Oyj 0.965 12/11/2040 EUR 56.357
Wirtschafts- und Infras 0.170 12/9/2041 EUR 55.243
Kreditanstalt fuer Wied 0.943 6/9/2050 EUR 58.825
Landesbank Hessen-Thuer 0.650 1/14/2036 EUR 63.460
UBS AG/London 14.250 7/12/2024 EUR 71.150
BPCE SA 1.820 12/4/2030 USD 74.085
DZ Bank AG Deutsche Zen 2.000 12/30/2030 EUR 74.000
Caisse des Depots et Co 1.005 11/5/2050 EUR 50.727
DZ Bank AG Deutsche Zen 0.290 12/2/2030 EUR 74.567
Bayerische Landesbank 0.500 12/2/2030 EUR 73.125
Kreditanstalt fuer Wied 0.830 12/9/2050 EUR 56.693
Societe Generale SA 2.050 12/2/2035 USD 58.692
Pannon Work Szemelyzeti 3.000 10/30/2030 HUF 70.450
Agence France Locale 0.330 12/20/2040 EUR 57.371
Credit Industriel Et Co 2.070 12/4/2035 USD 65.706
Nomura Bank Internation 0.450 12/3/2030 EUR 74.495
Region de Bruxelles-Cap 0.453 12/7/2055 EUR 34.587
Nomura Bank Internation 0.400 12/3/2030 EUR 73.832
SG Issuer SA 1.050 11/20/2025 EUR 12.220
DZ Bank AG Deutsche Zen 0.600 12/4/2035 EUR 62.933
DZ Bank AG Deutsche Zen 0.640 12/7/2035 EUR 63.232
DZ Bank AG Deutsche Zen 0.300 12/9/2030 EUR 74.406
Nordea Bank Abp 2.000 12/29/2025 SEK 51.270
Deutsche Pfandbriefbank 0.320 12/9/2030 EUR 69.192
DZ Bank AG Deutsche Zen 0.350 11/14/2031 EUR 72.499
Ville de Paris 0.650 11/25/2070 EUR 32.657
Single Platform Investm 1.082 3/17/2039 EUR 63.801
Landesbank Hessen-Thuer 0.550 11/26/2030 EUR 74.471
Nederlandse Waterschaps 1.000 11/24/2050 EUR 56.849
Region de Bruxelles-Cap 0.556 12/23/2064 EUR 29.003
Credit Agricole CIB Fin 0.400 12/4/2032 EUR 68.428
Single Platform Investm 1.050 3/17/2039 EUR 63.444
Landeskreditbank Baden- 0.170 12/10/2035 EUR 68.919
Caisse des Depots et Co 0.982 11/6/2050 EUR 50.343
Single Platform Investm 0.720 3/20/2051 EUR 48.261
Raiffeisen Switzerland 3.000 11/28/2023 USD 59.530
LFA Foerderbank Bayern 0.250 9/30/2039 EUR 61.116
Wirtschafts- und Infras 0.200 12/2/2043 EUR 52.127
EFG International Finan 4.900 12/4/2023 USD 50.340
Zurcher Kantonalbank Fi 10.000 7/12/2024 EUR 69.080
Landesbank Baden-Wuertt 5.250 9/22/2023 EUR 68.370
Raiffeisen Schweiz Geno 8.000 12/4/2023 CHF 74.280
Bank Vontobel AG 10.000 3/4/2024 EUR 59.500
Bank Vontobel AG 9.000 3/4/2024 CHF 73.200
Landesbank Hessen-Thuer 1.750 4/14/2037 EUR 72.568
Landesbank Baden-Wuertt 7.250 8/23/2024 EUR 68.260
Landesbank Hessen-Thuer 0.250 1/13/2031 EUR 74.704
Norddeutsche Landesbank 0.740 12/11/2031 EUR 72.928
Norddeutsche Landesbank 0.600 1/14/2031 EUR 74.934
UniCredit Bank AG 5.800 1/12/2024 EUR 28.660
DZ Bank AG Deutsche Zen 0.700 12/30/2030 EUR 74.590
MetMax Europe Zrt 3.000 12/11/2030 HUF 70.900
Single Platform Investm 0.457 2/15/2046 EUR 48.199
Credit Agricole Corpora 11.190 1/15/2026 TRY 67.596
Landesbank Hessen-Thuer 0.750 1/21/2036 EUR 64.319
UniCredit Bank AG 4.000 1/26/2024 EUR 72.500
Credit Agricole CIB Fin 0.390 12/16/2032 EUR 68.247
Kreditanstalt fuer Wied 0.918 10/11/2050 EUR 57.839
Landesbank Hessen-Thuer 0.400 1/21/2031 EUR 74.895
DZ Bank AG Deutsche Zen 0.300 12/30/2030 EUR 73.980
DZ Bank AG Deutsche Zen 0.480 12/30/2030 EUR 74.220
DekaBank Deutsche Giroz 2.000 1/12/2024 EUR 69.580
Credit Agricole Corpora 11.550 1/28/2026 TRY 66.741
Muenchener Hypothekenba 0.420 12/10/2035 EUR 63.195
DZ Bank AG Deutsche Zen 0.250 12/30/2030 EUR 74.061
Barclays Bank PLC 2.070 12/18/2035 USD 62.878
EFG International Finan 4.900 12/15/2023 USD 52.010
Abroncs Kereskedohaz Kf 2.800 12/17/2027 HUF 74.000
Bank Julius Baer & Co L 9.500 9/27/2023 CHF 62.550
UBS AG/London 14.250 9/21/2023 CHF 36.850
Bank Vontobel AG 20.250 9/25/2023 CHF 36.900
Basler Kantonalbank 16.000 9/28/2023 CHF 37.310
SG Issuer SA 0.021 7/7/2033 EUR 65.120
UniCredit Bank AG 16.900 3/22/2024 EUR 70.670
Leonteq Securities AG/G 26.000 4/17/2024 CHF 66.400
Landesbank Hessen-Thuer 1.500 12/10/2036 EUR 65.850
Erste Group Bank AG 6.500 12/1/2026 EUR 69.450
Leonteq Securities AG/G 16.000 9/26/2023 CHF 35.520
UBS AG/London 14.250 9/21/2023 CHF 38.700
DekaBank Deutsche Giroz 2.300 8/9/2024 EUR 70.500
DZ Bank AG Deutsche Zen 17.500 6/28/2024 EUR 69.770
DZ Bank AG Deutsche Zen 24.400 12/22/2023 EUR 63.710
UniCredit Bank AG 19.600 9/22/2023 EUR 66.210
UniCredit Bank AG 19.300 12/22/2023 EUR 67.650
UniCredit Bank AG 15.200 6/28/2024 EUR 73.140
Citigroup Global Market 14.650 7/22/2024 HKD 33.460
Landesbank Baden-Wuertt 0.400 12/1/2031 EUR 73.137
Landesbank Baden-Wuertt 5.000 8/23/2024 EUR 72.760
SG Issuer SA 1.800 8/14/2034 EUR 66.030
Societe Generale Effekt 19.498 1/26/2024 EUR 54.570
Bank Julius Baer & Co L 18.000 2/9/2024 CHF 60.200
Norddeutsche Landesbank 1.000 1/12/2034 EUR 69.263
Leonteq Securities AG/G 6.100 12/6/2023 CHF 65.040
Ville de Paris 0.963 12/6/2051 EUR 49.694
Bank Vontobel AG 5.250 12/1/2023 CHF 72.000
UBS AG/London 0.120 5/25/2040 MXN 14.574
Region Bretagne SCI 0.544 12/7/2036 EUR 66.043
Leonteq Securities AG/G 8.800 12/7/2023 CHF 71.830
UniCredit Bank AG 4.650 12/30/2024 USD 70.500
DekaBank Deutsche Giroz 3.300 1/12/2026 EUR 61.490
Raiffeisen Schweiz Geno 8.200 12/6/2023 CHF 65.930
Raiffeisen Schweiz Geno 4.900 12/6/2023 CHF 65.780
Landesbank Baden-Wuertt 2.300 1/2/2026 EUR 71.850
Norddeutsche Landesbank 0.825 1/14/2032 EUR 73.864
Sberbank of Russia PJSC 0.010 11/27/2026 RUB 74.500
Sberbank of Russia PJSC 0.010 12/7/2026 RUB 71.110
SG Issuer SA 2.100 12/27/2033 EUR 42.980
UBS AG/London 9.500 12/8/2023 USD 51.750
UBS AG/London 7.750 12/8/2023 CHF 59.350
Landesbank Hessen-Thuer 1.500 1/20/2037 EUR 65.700
Region Occitanie 0.786 12/14/2046 EUR 52.800
UBS AG/London 8.500 12/8/2023 EUR 64.550
SG Issuer SA 2.100 12/6/2033 EUR 42.350
Landesbank Baden-Wuertt 0.520 1/7/2032 EUR 73.194
Banque Cantonale Vaudoi 5.400 12/6/2023 CHF 6.940
Corner Banca SA 8.000 12/13/2023 CHF 73.380
Leonteq Securities AG 7.000 12/13/2023 CHF 65.920
Landesbank Hessen-Thuer 0.410 12/17/2030 EUR 74.142
Bank Vontobel AG 5.000 12/11/2023 CHF 64.200
Bank Vontobel AG 7.000 12/11/2023 CHF 68.300
Leonteq Securities AG/G 7.000 12/13/2023 CHF 65.400
Landesbank Hessen-Thuer 1.580 12/16/2036 EUR 66.700
Landesbank Baden-Wuertt 9.250 2/23/2024 EUR 73.400
Landesbank Baden-Wuertt 14.000 2/23/2024 EUR 74.720
UniCredit Bank AG 10.000 12/22/2023 EUR 70.930
UniCredit Bank AG 11.700 12/22/2023 EUR 68.860
UniCredit Bank AG 13.600 12/22/2023 EUR 67.030
UniCredit Bank AG 11.100 9/22/2023 EUR 68.540
UniCredit Bank AG 13.600 9/22/2023 EUR 66.110
UniCredit Bank AG 16.600 9/22/2023 EUR 63.910
UniCredit Bank AG 8.700 12/22/2023 EUR 73.360
Leonteq Securities AG/G 20.000 2/20/2024 CHF 49.340
Leonteq Securities AG/G 21.600 2/20/2024 CHF 49.930
Zurcher Kantonalbank Fi 12.000 2/14/2024 CHF 34.770
UniCredit Bank AG 16.600 9/22/2023 EUR 73.170
UniCredit Bank AG 19.900 9/22/2023 EUR 69.620
UniCredit Bank AG 17.100 12/22/2023 EUR 73.320
DZ Bank AG Deutsche Zen 1.080 12/30/2030 EUR 74.040
Akademiska Hus AB 0.850 2/17/2033 SEK 71.649
Vontobel Financial Prod 18.000 3/22/2024 EUR 61.760
Vontobel Financial Prod 14.000 6/28/2024 EUR 67.490
Vontobel Financial Prod 16.500 6/28/2024 EUR 65.060
UniCredit Bank AG 16.500 9/22/2023 EUR 57.570
UniCredit Bank AG 17.300 12/22/2023 EUR 59.380
UniCredit Bank AG 15.500 3/22/2024 EUR 62.370
UniCredit Bank AG 14.200 6/28/2024 EUR 65.060
UniCredit Bank AG 13.000 6/28/2024 EUR 66.360
UniCredit Bank AG 14.900 12/22/2023 EUR 60.980
UniCredit Bank AG 13.900 3/22/2024 EUR 63.800
UniCredit Bank AG 12.800 9/22/2023 EUR 59.860
DZ Bank AG Deutsche Zen 10.750 12/20/2023 EUR 62.840
Barclays Bank PLC 1.011 2/1/2041 EUR 52.803
Bayerische Landesbank 0.400 7/15/2031 EUR 73.505
DZ Bank AG Deutsche Zen 0.200 10/2/2034 EUR 62.370
Landesbank Hessen-Thuer 1.000 4/9/2035 EUR 66.400
DZ Bank AG Deutsche Zen 0.300 2/12/2032 EUR 70.520
DZ Bank AG Deutsche Zen 1.150 4/30/2035 EUR 68.720
Landesbank Baden-Wuertt 0.820 2/1/2039 EUR 60.308
Norddeutsche Landesbank 1.130 2/10/2039 EUR 58.558
Citigroup Global Market 0.250 2/9/2031 EUR 73.448
Landesbank Baden-Wuertt 0.400 7/2/2031 EUR 73.590
DZ Bank AG Deutsche Zen 1.350 12/30/2030 EUR 73.290
Aktia Bank Oyj 0.690 2/4/2036 EUR 62.880
Kuntarahoitus Oyj 0.040 2/9/2034 EUR 71.564
Landesbank Baden-Wuertt 0.436 9/25/2031 EUR 73.238
NRW Bank 0.420 2/8/2039 EUR 64.135
Caisse des Depots et Co 0.642 2/12/2041 EUR 57.444
DZ Bank AG Deutsche Zen 0.860 12/30/2030 EUR 74.830
Landesbank Hessen-Thuer 0.500 3/10/2034 EUR 65.561
Vasutvillamosito Kft 3.000 2/3/2031 HUF 65.000
Single Platform Investm 1.013 12/20/2050 EUR 53.558
Single Platform Investm 0.780 3/5/2039 EUR 60.726
DZ Bank AG Deutsche Zen 0.310 2/10/2031 EUR 73.638
Landesbank Baden-Wuertt 0.480 2/26/2032 EUR 72.138
Landesbank Baden-Wuertt 0.570 2/27/2034 EUR 67.993
Landesbank Baden-Wuertt 0.640 2/26/2036 EUR 64.133
Communaute Francaise de 0.782 2/8/2061 EUR 38.776
Kreditanstalt fuer Wied 0.160 2/16/2036 EUR 68.237
NRW Bank 0.642 2/9/2051 EUR 52.679
Muenchener Hypothekenba 0.335 2/10/2031 EUR 74.552
Region de Bruxelles-Cap 0.650 2/15/2061 EUR 34.155
Caisse des Depots et Co 1.018 2/16/2051 EUR 50.716
Landesbank Hessen-Thuer 1.000 3/17/2036 EUR 62.000
Landesbank Hessen-Thuer 0.750 3/18/2036 EUR 63.959
DZ Bank AG Deutsche Zen 0.600 2/19/2036 EUR 62.413
Landesbank Baden-Wuertt 0.620 2/18/2036 EUR 63.991
Norddeutsche Landesbank 0.525 3/10/2033 EUR 67.558
Norddeutsche Landesbank 0.400 3/11/2031 EUR 73.291
Muenchener Hypothekenba 0.400 8/11/2031 EUR 73.806
Norddeutsche Landesbank 0.650 3/10/2031 EUR 74.801
EFG International Finan 4.500 2/12/2024 USD 47.170
Landesbank Hessen-Thuer 0.600 3/18/2036 EUR 62.578
NRW Bank 0.729 2/11/2051 EUR 54.219
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S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Rousel Elaine T. Fernandez, Joy A. Agravante,
Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A. Chapman,
Editors.
Copyright 2023. All rights reserved. ISSN 1529-2754.
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