SAXO BANK CENTRAL & EASTERN EUROPE BOND INSPIRATION

Inspiration list of selected corporate and government bonds. Information and pricing source is Bloomberg. Bonds included on the list are for inspirational purpose only and liquidity will vary. None of the suggested bonds constitute any form of trade recommendation to sell or buy. Last update:

22-Jan-14

*if perpetual maturity the next call date and yield to first call is shown

ISIN

Issuer

Price

Currency

Maturity*

Rating

Coupon

Yield*

Duration

Collateral

Industry

Minimum

Country

RUSSIA XS0938341780

CB RENCRED (REN CONSUMER

96,50

USD

31-05-2016

B

7,750%

9,4%

2,1

SR UNSECURED

Investment Companies

200

RU

XS0650962185

METALLOINVEST FINANCE LT

105,97

USD

21-07-2016

BB-

6,500%

4,0%

2,3

COMPANY GUARNT

Iron/Steel

200

RU

XS0643176448

VIMPELCOM HLDGS

108,20

USD

01-03-2017

BB-

6,255%

3,4%

2,8

COMPANY GUARNT

Telecommunications

200

RU

XS0552679879

SCF CAPITAL LTD

101,20

USD

27-10-2017

BB-

5,375%

5,0%

3,3

COMPANY GUARNT

Transportation

200

RU

XS0850393264

BRUNSWICK RAIL FINANCE

102,70

USD

01-11-2017

BB-

6,500%

5,7%

3,3

COMPANY GUARNT

Transportation

200

RU

XS0863583281

EUROCHEM M & C OJSC VIA

101,19

USD

12-12-2017

BB

5,125%

4,8%

3,5

SR UNSECURED

Chemicals

200

RU

XS0878855773

SIBUR SECURITIES LTD

98,70

USD

31-01-2018

BB+

3,914%

4,3%

3,6

COMPANY GUARNT

Oil&Gas

200

RU

XS0888245122

PHOSAGRO(PHOS BOND FUND)

99,13

USD

13-02-2018

BB+

4,204%

4,4%

3,6

COMPANY GUARNT

Chemicals

200

RU

XS0592794597

VTB BANK (VTB CAPITAL SA

107,25

USD

22-02-2018

BBB-

6,315%

4,4%

3,5

SR UNSECURED

Banks

200

RU

XS0324963932

ROSNEFT FINANCE SA

116,60

USD

13-03-2018

BBB

7,875%

3,5%

3,5

COMPANY GUARNT

Oil&Gas

100

RU

XS0899969702

SEVERSTAL (STEEL CAP)

100,20

USD

19-03-2018

BB

4,450%

4,4%

3,7

SR UNSECURED

Iron/Steel

200

RU

XS0359381331

EVRAZ GROUP SA

109,51

USD

24-04-2018

B+

9,500%

6,9%

3,4

SR UNSECURED

Iron/Steel

100

RU

XS0923110232

NOMOS BANK(NOMOS CAP)

101,00

USD

25-04-2018

BB-

7,250%

7,0%

3,5

SR UNSECURED

Banks

200

RU

XS0922134712

MMC FINANCE LTD

100,30

USD

30-04-2018

BBB-

4,375%

4,3%

3,8

COMPANY GUARNT

Mining

200

RU

XS0922883318

URALKALI (URALKALI FINAN

98,00

USD

30-04-2018

BBB-

3,723%

4,2%

3,9

SR UNSECURED

Diversified Finan Serv

200

RU

XS0923472814

NORD GOLD NV

97,25

USD

07-05-2018

BB-

6,375%

7,1%

3,6

COMPANY GUARNT

Mining

200

RU

XS0954912514

GAZPROM (GAZ CAPITAL SA)

104,18

EUR

25-07-2018

BBB

3,700%

2,8%

4,0

SR UNSECURED

Oil&Gas

100

RU

XS0955232854

OJSC RUSS AGRIC BK(RSHB)

103,63

USD

25-07-2018

BBB-

5,100%

4,3%

4,0

SR UNSECURED

Banks

200

RU

XS0381439305

TRANSNEFT(TRANS CAP INV)

120,78

USD

07-08-2018

BBB

8,700%

3,7%

3,7

SR UNSECURED

Pipelines

100

RU

SAXO BANK A/S PHILIP HEYMANS ALLÉ 15 2900 HELLERUP PHONE: +45 3977 4000

[email protected] WWW.SAXOBANK.COM CVR. NR. 15 73 12 49 1 OF 7

ISIN

Price

Currency

Maturity*

Rating

Coupon

Yield*

Duration

Collateral

Industry

Minimum

Country

CREDIT BANK OF MOSCOW (C

98,13

USD

GAZPROM (GAZ CAPITAL SA)

123,65

USD

13-11-2018

NR

8,700%

9,2%

3,8

23-04-2019

BBB

9,250%

4,2%

4,2

SUBORDINATED

Banks

200

RU

SR UNSECURED

Oil&Gas

100

RU

XS0779213460

GAZPROMBK (GPB FINANCE)

108,28

USD

XS0783242877

SISTEMA JSFC (SISTEMA IN

107,28

USD

03-05-2019

BB

7,250%

5,4%

4,3

17-05-2019

BB-

6,950%

5,4%

4,4

SUBORDINATED

Banks

200

RU

SR UNSECURED

Diversified Finan Serv

200

XS0799357354

SBERBANK (SB CAP SA)

106,05

USD

28-06-2019

BBB

5,180%

3,9%

4,7

RU

SR UNSECURED

Banks

200

RU

XS0783934325

OJSC NOVO(STEEL FUNDING)

XS0461926569

LUKOIL INTL FINANCE BV

98,26

USD

26-09-2019

BB+

4,950%

5,3%

113,00

USD

05-11-2019

BBB

7,250%

4,7%

4,8

SR UNSECURED

Iron/Steel

200

RU

4,7

COMPANY GUARNT

Oil&Gas

100

XS0911599701

OAO TMK (TMK CAPITAL)

98,88

USD

03-04-2020

B+

6,750%

RU

7,0%

4,9

SR UNSECURED

Metal Fabricate/Hardware

200

RU

XS0922301717 XS0504954347

POLYUS GOLD INTL LTD

98,38

USD

29-04-2020

BB+

RUSSIA FOREIGN BOND

107,88

USD

29-04-2020

BBB

5,625%

5,9%

5,1

COMPANY GUARNT

Mining

200

RU

5,000%

3,6%

5,3

SR UNSECURED

Sovereign

100

XS0925043100

ALLIANCE OIL CO LTD

98,70

USD

04-05-2020

RU

B

7,000%

7,3%

4,9

COMPANY GUARNT

Oil&Gas

200

RU

XS0513723873

MOBILE TELESYS (MTS INT)

119,30

USD

XS0524610812

VNESHECONOMBANK(VEB)

110,78

USD

22-06-2020

BB

8,625%

5,1%

5,0

SR UNSECURED

Telecommunications

100

RU

09-07-2020

BBB

6,902%

4,9%

5,2

SR UNSECURED

Banks

100

XS0555493203

ALROSA FINANCE SA

112,38

RU

USD

03-11-2020

BB-

7,750%

5,5%

5,3

COMPANY GUARNT

Mining

200

RU

XS0588433267

NOVATEK(NOVATEK FIN LTD)

XS0620695204

ALFA BANK (ALFA BOND)

110,64

USD

03-02-2021

BBB-

6,604%

4,9%

5,5

SR UNSECURED

Oil&Gas

200

RU

108,80

USD

28-04-2021

BB+

7,750%

6,2%

5,5

SR UNSECURED

Banks

200

XS0919581982

RU

RZD CAPITAL PLC (RZD)

98,76

EUR

20-05-2021

BBB

3,374%

3,6%

6,2

SR UNSECURED

Transportation

100

RU

XS0652911420

GEORGIAN OIL & GAS CORP

105,37

USD

16-05-2017

B+

6,875%

5,3%

2,9

UNSECURED

Pipelines

200

GE

XS0783935561

BANK OF GEORGIA JSC

106,37

USD

05-07-2017

BB-

7,750%

5,9%

3,0

SR UNSECURED

Banks

200

GE

XS0617134092

REPUBLIC OF GEORGIA

110,05

USD

12-04-2021

BB-

6,875%

5,3%

5,6

UNSECURED

Sovereign

200

GE

XS0800346362

JSC GEORGIAN RAILWAY

105,50

USD

11-07-2022

BB-

7,750%

6,9%

6,2

SR UNSECURED

Transportation

200

GE

KAZATOMPROM

105,13

USD

20-05-2015

BBB-

6,250%

2,3%

1,3

SR UNSECURED

Mining

100

KZ

USN97708AA49 ZHAIKMUNAI LLP

105,45

USD

19-10-2015

B

10,500%

7,1%

1,5

SR SECURED

Oil&Gas

150

KZ

XS0253723281

100,31

USD

11-05-2016

CCC+

9,000%

9,1%

2,0

SR UNSECURED

Banks

100

KZ

USN45748AB15 INTERGAS FINANCE BV

108,50

USD

14-05-2017

BB+

6,375%

3,6%

3,0

COMPANY GUARNT

Gas

100

KZ

XS0625516157

KAZKOMMERTSBANK

98,35

USD

11-05-2018

B-

8,500%

9,0%

3,5

SR UNSECURED

Banks

200

KZ

XS0373641009

KAZMUNAYGAS NATIONAL CO

121,88

USD

02-07-2018

BBB-

9,125%

3,7%

3,7

SR UNSECURED

Oil&Gas

100

KZ

USN97716AA72 ZHAIKMUNAI LLP

105,60

USD

13-11-2019

B

7,125%

6,0%

4,7

COMPANY GUARNT

Oil&Gas

200

KZ

XS0583796973

HALYK SAVINGS BANK-KAZAK

108,28

USD

28-01-2021

BB-

7,250%

5,9%

5,3

SR UNSECURED

Banks

200

KZ

XS0556885753

KAZMUNAYGAS NATIONAL CO

109,61

USD

09-04-2021

BBB-

6,375%

4,8%

5,7

SR UNSECURED

Oil&Gas

200

KZ

XS0860582435

DEVELOPMENT BANK OF KAZA

91,50

USD

10-12-2022

BBB

4,125%

5,3%

7,2

SR UNSECURED

Banks

200

KZ

XS0867478124

BTA BANK

75,23

USD

21-12-2022

NR

5,500%

9,9%

6,5

SR UNSECURED

Banks

50

KZ

XS0924078453 RUSSIA XS0424860947

Issuer

GEORGIA

KAZAKHSTAN XS0510820011

ATF BANK

SAXO BANK A/S PHILIP HEYMANS ALLÉ 15 2900 HELLERUP PHONE: +45 3977 4000

[email protected] WWW.SAXOBANK.COM CVR. NR. 15 73 12 49 2 OF 7

ISIN

Issuer

Price

Currency

Maturity*

Rating

Coupon

Yield*

Duration

Collateral

Industry

Minimum

Country

XS0925015074 RUSSIA XS0934609016

KAZMUNAYGAS NATIONAL CO

93,97

USD

30-04-2023

BBB-

4,400%

5,2%

7,4

SR UNSECURED

Oil&Gas

200

KZ

KAZAGRO NATL MGMT HLDNG

93,45

USD

24-05-2023

BBB

4,625%

5,5%

7,3

SR UNSECURED

Holding Companies-Divers

200

KZ

XS0925015157

KAZMUNAYGAS NATIONAL CO

89,30

USD

30-04-2043

BBB-

5,750%

6,6%

13,0

SR UNSECURED

Oil&Gas

200

KZ

XS0550480296

CET 21 SPOL S R O

106,37

EUR

01-11-2017

B

9,000%

7,1%

3,1

SR SECURED

Media

50

CZ

XS0808636244

EP ENERGY AS

104,22

EUR

01-05-2018

NR

4,375%

3,4%

3,8

SR SECURED

Energy-Alternate Sources

100

CZ

XS0504814509

NEW WORLD RESOURCES NV

75,98

EUR

01-05-2018

B-

7,875%

16,2%

3,3

SR SECURED

Coal

50

CZ

XS0757372114

CESKA EXPORTNI BANKA AS

109,18

EUR

15-03-2019

A+

3,625%

1,9%

4,6

GOVT GUARANTEED

Sovereign

100

CZ

XS0807706006

CESKE DRAHY

107,57

EUR

23-07-2019

NR

4,125%

2,7%

4,8

SR UNSECURED

Transportation

100

CZ

XS0808638539

RPG BYTY SRO

103,72

EUR

01-05-2020

BB-

6,750%

6,2%

5,0

SR SECURED

Real Estate

100

CZ

XS0541140793

CZECH REPUBLIC

110,46

EUR

14-04-2021

A+

3,625%

2,1%

6,2

SR UNSECURED

Sovereign

50

CZ

XS0764313614

CEZ AS

100,75

USD

03-04-2022

A-

4,250%

4,1%

6,8

SR UNSECURED

Electric

200

CZ

XS0632248802

HUNGARIAN DEVELOPMENT BA

107,08

EUR

31-05-2016

NR

5,875%

2,9%

2,1

GOVT GUARANTEED

Banks

100

HU

XS0268320800

OTP BANK PLC

104,79

EUR

19-09-2016

NR

5,270%

3,6%

2,4

SUBORDINATED

Banks

100

HU

XS0503453275

MOL HUNGARIAN OIL & GAS

108,16

EUR

20-04-2017

BB+

5,875%

3,3%

2,8

SR UNSECURED

Oil&Gas

50

HU

XS0219107918

HUNGARY

104,00

GBP

09-05-2017

BB

5,000%

3,8%

2,9

SR UNSECURED

Sovereign

50

HU

XS0284810719

HUNGARY

104,99

EUR

04-07-2017

BB

4,375%

2,9%

3,1

SR UNSECURED

Sovereign

50

HU

US445545AG19 HUNGARY

102,52

USD

19-02-2018

BB

4,125%

3,6%

3,7

SR UNSECURED

Sovereign

50

HU

XS0369470397

HUNGARY

109,54

EUR

11-06-2018

BB

5,750%

3,5%

3,8

SR UNSECURED

Sovereign

50

HU

XS0834435702

MOL GROUP FINANCE SA

105,63

USD

26-09-2019

BB+

6,250%

5,1%

4,7

COMPANY GUARNT

Oil&Gas

200

HU

US445545AH91 HUNGARY

100,92

USD

21-02-2023

BB

5,375%

5,3%

7,0

SR UNSECURED

Sovereign

50

HU

US445545AF36 HUNGARY

114,70

USD

29-03-2041

BB

7,625%

6,5%

12,1

SR UNSECURED

Sovereign

50

HU

XS0274147296

OTP BANK NYRT

88,42

EUR

07-11-2016 (PERP)

NR

5,875%

10,9%

2,3

JR SUBORDINATED

Banks

50

HU

XS0545031642

PKO FIN AB (PKO BANK PL)

104,61

EUR

21-10-2015

NR

3,733%

1,2%

1,7

SR UNSECURED

Banks

50

PL

XS0746259323

PGNIG FINANCE AB

106,83

EUR

14-02-2017

BBB-

4,000%

1,8%

2,8

COMPANY GUARNT

Oil&Gas

100

PL

XS0557898946

TVN FINANCE CORP III AB

107,13

EUR

15-11-2018

B+

7,875%

6,2%

3,9

COMPANY GUARNT

Media

50

PL

XS0874841066

REPUBLIC OF POLAND

100,93

EUR

15-01-2019

A-

1,625%

1,5%

4,7

SR UNSECURED

Sovereign

50

PL

XS0856025431

CIECH GROUP FINANCING

116,03

EUR

30-11-2019

B

9,500%

6,3%

4,5

SR SECURED

Chemicals

100

PL

XS0906117980

ENERGA FINANCE AB

103,91

EUR

19-03-2020

BBB

3,250%

2,6%

5,4

COMPANY GUARNT

Electric

100

PL

XS0783934085

PKO FIN AB (PKO BANK PL)

CZECH REPUBLIC

HUNGARY

POLAND

101,30

USD

26-09-2022

A-

4,630%

4,4%

7,0

SR UNSECURED

Banks

200

PL

US731011AT95 REPUBLIC OF POLAND

93,16

USD

17-03-2023

A-

3,000%

3,9%

7,8

SR UNSECURED

Sovereign

50

PL

XS0841073793

104,39

EUR

09-07-2024

A-

3,375%

2,9%

8,6

SR UNSECURED

Sovereign

50

PL

REPUBLIC OF POLAND

SAXO BANK A/S PHILIP HEYMANS ALLÉ 15 2900 HELLERUP PHONE: +45 3977 4000

[email protected] WWW.SAXOBANK.COM CVR. NR. 15 73 12 49 3 OF 7

ISIN

Issuer

Price

Currency

Maturity*

Rating

Coupon

Yield*

Duration

Collateral

Industry

Minimum

Country

RUSSIA UKRAINE 98,50

USD

27-04-2015

CCC+

8,375%

9,7%

1,1

SR UNSECURED

Sovereign

100

UA

USN2800PAA59 DTEK FINANCE BV

XS0503737461

UKREXIMBANK(BIZ FIN PLC)

102,25

USD

28-04-2015

CCC+

9,500%

7,6%

1,1

COMPANY GUARNT

Coal

100

UA

USL6366MAB92 MHP SA

105,38

USD

29-04-2015

CCC+

10,250%

5,7%

1,2

COMPANY GUARNT

Agriculture

100

UA

XS0511379066

METINVEST BV

103,75

USD

20-05-2015

CCC+

10,250%

7,2%

1,2

COMPANY GUARNT

Iron/Steel

100

UA

XS0232329879

UKRAINE GOVERNMENT

99,38

EUR

13-10-2015

CCC+

4,950%

5,6%

1,6

SR UNSECURED

Sovereign

50

UA

XS0553088708

AVANGARDCO INVESTMENTS

103,38

USD

29-10-2015

NR

10,000%

7,9%

1,6

SR UNSECURED

Food

100

UA

XS0594294695

OSCHADBANK (SSB #1 PLC)

94,05

USD

10-03-2016

CCC+

8,250%

12,0%

1,8

SR UNSECURED

Banks

200

UA

XS0614325586

FERREXPO FINANCE PLC

99,75

USD

07-04-2016

CCC+

7,875%

8,0%

1,9

COMPANY GUARNT

Iron/Steel

200

UA

XS0556327822

FINANCING OF INFRASTRUCT

93,50

USD

03-11-2017

NR

8,375%

10,8%

3,1

GOVT LIQUID GTD

Sovereign

100

UA

XS0330776617

UKRAINE GOVERNMENT

96,84

USD

14-11-2017

CCC+

6,750%

7,9%

3,2

SR UNSECURED

Sovereign

100

UA

XS0877737287

UKREXIMBANK(BIZ FIN PLC)

90,91

USD

22-01-2018

CCC+

8,750%

11,9%

3,2

SR UNSECURED

Sovereign

200

UA

XS0591549232

METINVEST BV

98,25

USD

14-02-2018

CCC+

8,750%

9,3%

3,2

COMPANY GUARNT

Iron/Steel

200

UA

XS0906434872

OSCHADBANK (SSB #1 PLC)

90,10

USD

20-03-2018

CCC+

8,875%

12,3%

3,2

SR UNSECURED

Banks

200

UA

XS0916902256

MRIYA AGRO HOLDING PLC

92,25

USD

19-04-2018

B-

9,450%

11,8%

3,3

SR UNSECURED

Agriculture

200

UA

XS0934134312

UZ RAIL VIA SHORTLINE

94,85

USD

21-05-2018

B-

9,500%

11,0%

3,4

SECURED

Transportation

200

UA

92,00

USD

02-04-2020

B-

8,250%

10,0%

4,5

COMPANY GUARNT

Agriculture

200

UA

USM0300LAA46 AKBANK TAS

103,15

USD

22-07-2015

BBB

5,125%

2,9%

1,4

SR UNSECURED

Banks

100

TR

XS0524202610

YAPI(UNICREDIT LUXEMB)

102,55

USD

13-10-2015

BBB-

5,188%

3,6%

1,6

SR UNSECURED

Banks

100

TR

XS0698260758

KT SUKUK VARLK KIRALMA A

105,49

USD

31-10-2016

NR

5,875%

4,0%

2,5

UNSECURED

Banks

200

TR

XS0615235701

YAPI VE KREDI BANKASI

105,40

USD

08-02-2017

BBB

6,750%

5,0%

2,7

SR UNSECURED

Banks

200

TR

XS0212694920

REPUBLIC OF TURKEY

108,52

EUR

16-02-2017

BBB-

5,500%

2,6%

2,7

SR UNSECURED

Sovereign

50

TR

XS0772024120

TURKIYE VAKIFLAR BANKASI

104,63

USD

24-04-2017

BBB-

5,750%

4,2%

2,9

SR UNSECURED

Banks

200

TR

USL6366MAC75 MHP SA TURKEY

US900123BE97 REPUBLIC OF TURKEY

112,54

USD

14-07-2017

BBB-

7,500%

3,7%

3,1

SR UNSECURED

Sovereign

100

TR

USM0375YAJ75 AKBANK TAS

98,00

USD

24-10-2017

BBB

3,875%

4,5%

3,4

SR UNSECURED

Banks

150

TR

XS0852697712

TURKIYE IS BANKASI A.S

97,13

USD

07-11-2017

BBB

3,875%

4,7%

3,4

SR UNSECURED

Banks

200

TR

XS0831353361

HAZINE MUSTESARLIGI VARL

94,53

USD

26-03-2018

BBB-

2,803%

4,4%

3,8

SR UNSECURED

Sovereign

200

TR

XS0922143382

TF VARLIK KIRALAMA AS

95,78

USD

02-05-2018

NR

3,950%

5,1%

3,8

SR UNSECURED

Banks

200

TR

XS0849020556

TUPRAS-TURKIYE PETROL RA

96,75

USD

02-05-2018

BB+

4,125%

5,0%

3,8

SR UNSECURED

Oil&Gas

200

TR

XS0922615819

KOC HOLDINGS AS

90,75

USD

24-04-2020

BBB-

3,500%

5,3%

5,4

SR UNSECURED

Holding Companies-Divers

200

TR

XS0927634807

TURK SISE VE CAM FABRIKA

90,30

USD

09-05-2020

BB+

4,250%

6,1%

5,3

SR UNSECURED

Housewares

200

TR

XS0503454166

REPUBLIC OF TURKEY

105,81

EUR

18-05-2020

BBB-

5,125%

4,1%

5,2

SR UNSECURED

Sovereign

50

TR

XS0957598070

MERSIN ULUS LIMAN

99,60

USD

12-08-2020

BBB-

5,875%

5,9%

5,2

SR UNSECURED

Commercial Services

200

TR

US900123BH29 REPUBLIC OF TURKEY

103,26

USD

30-03-2021

BBB-

5,625%

5,1%

5,8

SR UNSECURED

Sovereign

100

TR

USM0375YAK49 AKBANK TAS

92,50

USD

24-10-2022

BBB

5,000%

6,1%

6,8

SR UNSECURED

Banks

150

TR

SAXO BANK A/S PHILIP HEYMANS ALLÉ 15 2900 HELLERUP PHONE: +45 3977 4000

[email protected] WWW.SAXOBANK.COM CVR. NR. 15 73 12 49 4 OF 7

ISIN XS0848940523 RUSSIA XS0910932788 XS0927211754

Issuer

Price

Currency

Maturity*

Rating

Coupon

Yield*

Duration

Collateral

ANADOLU EFES

81,63

USD

01-11-2022

BBB-

3,375%

6,1%

7,2

ARCELIK AS

88,70

USD

03-04-2023

BB+

5,000%

6,7%

7,0

ALBARAKA TURK KATILIM

92,25

USD

07-05-2023

NR

7,750%

9,2%

102,39

USD

30-05-2040

BBB-

6,750%

US900123BG46 REPUBLIC OF TURKEY

Industry

Minimum

Country

SR UNSECURED

Beverages

200

TR

SR UNSECURED

Home Furnishings

200

TR

6,2

SUBORDINATED

Banks

200

TR

6,6%

12,2

SR UNSECURED

Sovereign

100

TR

BALCAN COUNTRIES XS0541470075

REPUBLIC OF MONTENEGRO

106,00

EUR

14-09-2015

BB-

7,875%

4,3%

1,5

SR UNSECURED

Sovereign

50

ME

XS0238022445

FYR MACEDONIA

102,44

EUR

08-12-2015

BB

4,625%

3,5%

1,8

SR UNSECURED

Sovereign

50

MK

XS0471612076

AGROKOR D.D

106,15

EUR

07-12-2016

B

10,000%

7,7%

2,4

COMPANY GUARNT

Food

50

HR

XS0776179656

CROATIA

108,27

USD

27-04-2017

BB+

6,250%

3,6%

2,9

SR UNSECURED

Sovereign

200

HR

XS0853036860

HRVATSKA ELECTROPRIVREDA

104,15

USD

09-11-2017

BB-

6,000%

4,9%

3,3

SR UNSECURED

Electric

200

HR

XS0856951263

REPUBLIC OF SERBIA

103,73

USD

21-11-2017

B+

5,250%

4,3%

3,4

SR UNSECURED

Sovereign

200

RS

XS0836495183

AGROKOR D.D

113,81

EUR

01-02-2020

B

9,125%

6,4%

4,5

COMPANY GUARNT

Food

100

HR

USX0027KAG32 AGROKOR D.D

107,63

USD

01-02-2020

B

8,875%

7,3%

4,5

COMPANY GUARNT

Food

200

HR

XS0680231908

REPUBLIC OF SERBIA

109,16

USD

28-09-2021

B+

7,250%

5,8%

5,8

SR UNSECURED

Sovereign

200

RS

XS0908769887

CROATIA

99,03

USD

04-04-2023

BB+

5,500%

5,7%

7,0

SR UNSECURED

Sovereign

200

HR

XS0214240482

REPUBLIC OF SERBIA

100,05

USD

01-11-2024

B+

6,750%

6,8%

7,4

SR UNSECURED

Sovereign

50

RS

BALTIC COUNTRIES XS0212170939

REPUBLIC OF LITHUANIA

105,38

EUR

10-02-2016

BBB

3,750%

1,2%

1,9

SR UNSECURED

Sovereign

50

LT

XS0747927746

REPUBLIC OF LATVIA

109,94

USD

22-02-2017

BBB

5,250%

2,0%

2,8

SR UNSECURED

Sovereign

200

LV

XS0541528682

REPUBLIC OF LITHUANIA

110,11

USD

14-09-2017

BBB

5,125%

2,3%

3,3

SR UNSECURED

Sovereign

100

LT

XS0327304001

REPUBLIC OF LITHUANIA

111,23

EUR

07-02-2018

BBB

4,850%

2,0%

3,5

SR UNSECURED

Sovereign

50

LT

XS0350977244

REPUBLIC OF LATVIA

116,56

EUR

05-03-2018

BBB

5,500%

1,4%

3,6

BONDS

Sovereign

50

LV

XS0645947457

ELERING

112,11

EUR

12-07-2018

NR

4,625%

1,9%

4,0

NOTES

Electric

100

EE

XS0763379343

EESTI ENERGIA AS

110,15

EUR

02-10-2018

BBB

4,250%

2,0%

4,2

SR UNSECURED

Electric

100

EE

XS0863522149

REPUBLIC OF LATVIA

96,94

USD

12-01-2020

BBB

2,750%

3,4%

5,4

SR UNSECURED

Sovereign

200

LV

XS0485991417

REPUBLIC OF LITHUANIA

121,38

USD

11-02-2020

BBB

7,375%

3,5%

4,9

SR UNSECURED

Sovereign

100

LT

XS0235372140

EESTI ENERGIA AS

111,20

EUR

18-11-2020

BBB

4,500%

2,7%

5,9

SR UNSECURED

Electric

50

EE

XS0602546136

REPUBLIC OF LITHUANIA

114,80

USD

09-03-2021

BBB

6,125%

3,8%

5,7

SR UNSECURED

Sovereign

100

LT

XS0638326263

REPUBLIC OF LATVIA

109,95

USD

16-06-2021

BBB

5,250%

3,7%

6,1

SR UNSECURED

Sovereign

200

LV

XS0739988086

REPUBLIC OF LITHUANIA

118,35

USD

01-02-2022

BBB

6,625%

4,0%

6,2

SR UNSECURED

Sovereign

200

LT

XS0504013912

SID BANKA EXPORT AND DEV

100,89

EUR

21-04-2015

NR

3,000%

2,7%

1,2

GOVT GUARANTEED

Banks

50

SI

XS0529394701

REPUBLIC OF BELARUS

102,99

USD

03-08-2015

B-

8,750%

7,0%

1,3

SR UNSECURED

Sovereign

100

BY

XS0554792670

REPUBLIC OF ALBANIA

106,58

EUR

04-11-2015

B

7,500%

4,2%

1,6

SR UNSECURED

Sovereign

50

AL

XS0592514144

AZERBAIJAN RAILWAYS (AQU

105,25

USD

18-02-2016

NR

8,250%

5,5%

1,8

UNSECURED

Transportation

200

AZ

OTHER

SAXO BANK A/S PHILIP HEYMANS ALLÉ 15 2900 HELLERUP PHONE: +45 3977 4000

[email protected] WWW.SAXOBANK.COM CVR. NR. 15 73 12 49 5 OF 7

ISIN

Issuer

Price

Currency

Maturity*

Rating

Coupon

Yield*

Duration

Collateral

ROMANIA

108,23

EUR

17-06-2016

BB+

5,250%

1,8%

2,2

TELEKOM SLOVENIJE DD

104,22

EUR

21-12-2016

NR

4,875%

3,5%

2,7

XS0744126961

STATE OIL CO OF THE AZER

106,75

USD

09-02-2017

BB+

5,450%

3,1%

XS0802005289

REPUBLIC OF BULGARIA

108,67

EUR

09-07-2017

BBB-

4,250%

XS0583616239

REPUBLIC OF BELARUS

104,70

USD

26-01-2018

B-

XS0927637495

REPUBLIC OF SLOVENIA

104,51

USD

10-05-2018

BBB

XS0371163600

ROMANIA

115,49

EUR

18-06-2018

XS0852474336

XS0638742485 RUSSIA XS0473928371

Industry

Minimum

Country

SR UNSECURED

Sovereign

50

RO

SR UNSECURED

Telecommunications

50

SI

2,7

SR UNSECURED

Oil&Gas

200

AZ

1,7%

3,2

SR UNSECURED

Sovereign

100

BG

8,950%

7,7%

3,3

SR UNSECURED

Sovereign

100

BY

4,750%

3,7%

3,8

SR UNSECURED

Sovereign

200

SI

BB+

6,500%

2,8%

3,8

SR UNSECURED

Sovereign

50

RO

ROMANIA

108,04

EUR

07-11-2019

BB+

4,875%

3,4%

5,0

SR UNSECURED

Sovereign

50

RO

US77586TAA43 ROMANIA

115,21

USD

07-02-2022

BB+

6,750%

4,5%

6,1

SR UNSECURED

Sovereign

50

RO

XS0847086237

REPUBLIC OF SLOVENIA

102,88

USD

26-10-2022

BBB

5,500%

5,2%

6,8

SR UNSECURED

Sovereign

200

SI

XS0903465127

STATE OIL CO OF THE AZER

96,37

USD

13-03-2023

BB+

4,750%

5,3%

7,2

SR UNSECURED

Oil&Gas

200

AZ

XS0927637818

REPUBLIC OF SLOVENIA

104,38

USD

10-05-2023

BBB

5,850%

5,3%

7,1

BONDS

Sovereign

200

SI

97,11

USD

22-08-2023

BB+

4,375%

4,8%

7,6

SR UNSECURED

Sovereign

50

RO

US77586TAC09 ROMANIA

SAXO BANK A/S PHILIP HEYMANS ALLÉ 15 2900 HELLERUP PHONE: +45 3977 4000

[email protected] WWW.SAXOBANK.COM CVR. NR. 15 73 12 49 6 OF 7

DISCLAIMER DISCLAIMER Unless specifically stated, no Publication of the Saxo Bank Group should be construed as an offer (or solicitation of an offer) to: • buy or sell any currency, product or financial instrument, • make any investment, or • participate in any particular trading strategy (collectively “Offers”). NO REPRESENTATION, NO WARRANTY The Saxo Bank Group uses reasonable efforts to obtain information from reliable sources, but all Publications are provided on an "as is" basis without representation or warranty of any kind (neither express nor implied) and the Saxo Bank Group disclaims liability for any Publication not being complete, accurate, suitable and relevant for the recipient. Specifically, the Saxo Bank Group disclaims liability towards any subscriber, client, partner, supplier, counterparty and other recipients for: • the accuracy of any market quotations, • any delay, inaccuracy, error, interruption or omission in providing market quotations, and • any discontinuance of market quotations. If a Publication becomes outdated the Saxo Bank Group shall be under no obligation to; • update the Publication, • inform the recipients of a Publication, or • perform any other action.

NO RECOMMENDATIONS The Saxo Bank Group does not in any of its Publications take into account any particular recipient’s investment objectives, special investment goals, financial situation, and specific needs and demands. Therefore, all Publications of the Saxo Bank Group are, unless otherwise specifically stated, intended for informational and/or marketing purposes only and should not be construed as: • business, financial, investment, hedging, legal, regulatory, tax or accounting advice, • a recommendation or trading idea, or • any other type of encouragement to act, invest or divest in a particular manner (collectively “Recommendations”). The Saxo Bank Group shall not be responsible for any loss arising from any investment based on a perceived Recommendation. RISK WARNING Trading of products and services offered by the Saxo Bank Group, even when executed in accordance with a perceived recommendation, entails a risk and may result in both profits and losses.

SAXO BANK A/S PHILIP HEYMANS ALLÉ 15 2900 HELLERUP PHONE: +45 3977 4000

[email protected] WWW.SAXOBANK.COM CVR. NR. 15 73 12 49 7 OF 7