SpreadResearch

Independent credit research

Through its Spread Research brand, EthiFinance is the leading independent credit research provider in Europe. The company was founded in 2004 in Lyon, France.

Our team of experienced analysts provide fundamental research services and general investment recommendations in high-yield, cross-over and convertible bond markets for many clients including specialised institutional credit funds, hedge funds, trading desks, private banks, and family offices. Our research covers about 230 issuers of debt in EUR or GBP.

Spread Research's services also include ESG analysis of the credit research portfolio, based on a methodology developed internally and which aims to better integrate the consideration of ESG factors into the assessment of credit risk.

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Timely "Live" Research Responsiveness

Direct access to analysts: conference calls, one-to-one Meetings and Quarterly comments – easily accessible for our clients in Europe and across the world.
Open Bloomberg® chat room for our analysts to comment on our Daily News and publications.
Customised email alerts for clients to receive our analytical comments, analysis and credit views.
Online Credit Database: over 12,000 historical data, reports and opinion on about 200 European bond issuers.

Quarterly & Financial Models

Key figures: table with key financial ratios – available in Excel format.
Quarterly Results Analysis: detailed quarterly comments and our analysts’ opinions evaluating the financial situation of the companies.
Forecast financial Model: 3-year forecast and a quarterly forecast (revenue & EBITDA) for the next earning periods on all financial ratios, our recovery analysis, the capital structure and a liquidity analysis of the company for the next 3 years – available in Excel format.).

Investment Recommendation - Opinion driven

Model Portfolio: our analysts update daily the performance of a model high yield bonds portfolio and provide their credit view on each line.
New Issue Theoretical Pricing: following the Primary market Snapshot and New Issue Comment, our analysts define a theoretical spread for each new issue.
Quarterly Sector Recommendation: peers relative value & credit view on high yield bond issuers.
Trade of the Week & Top Picks Top Pans: Our high convictions and credit views.

ESG integration

Spread Research has been a pioneer in Credit Research for the last 15 years. Rightly anticipating the new paradigm implied by the ESG upheaval, we have been working for 2 years to integrate ESG factors into our fundamental credit analysis. To achieve this timely and consistently, we have tied-up with EthiFinance, the leading sustainability rating agency with 15 years expertise under its belt. To back-up this effort, we have been fuelled by leading institutional investors such as Aviva and French insurance companies. In effect, for most institutional investors, investing in credit without taking stock of ESG is not an option any longer.

Principles for Responsible Investment Euro IRP

European Coverage

Sector Name Universe
Automotive ADLER PELZER EUROPEAN HIGH YIELD
Automotive Adient EUROPEAN HIGH YIELD
Automotive Bekaert EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Automotive Benteler EUROPEAN HIGH YIELD
Automotive Clarios (Power Solutions) EUROPEAN HIGH YIELD
Automotive Dana EUROPEAN HIGH YIELD
Automotive Forvia EUROPEAN HIGH YIELD
Automotive Gestamp EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Automotive Grupo Antolin EUROPEAN HIGH YIELD
Automotive IHO Verwaltung EUROPEAN HIGH YIELD
Automotive Jaguar Land Rover EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Automotive LKQ DISCONTINUED HIGH YIELD/EUROPEAN HIGH YIELD
Automotive Mercedes-Benz EUROPEAN CONVERTIBLE
Automotive Pasubio EUROPEAN HIGH YIELD
Automotive Pirelli DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Automotive Renault EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Automotive Schaeffler EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Automotive Standard Profil EUROPEAN HIGH YIELD
Automotive Superior Industries EUROPEAN HIGH YIELD
Automotive TI Fluid Systems EUROPEAN HIGH YIELD
Automotive Valeo DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Automotive Volkswagen EUROPEAN HIGH YIELD
Automotive Volvo EUROPEAN CONVERTIBLE
Automotive ZF DISCONTINUED HIGH YIELD/EUROPEAN HIGH YIELD
Cable Altice France EUROPEAN HIGH YIELD
Cable Tele Columbus EUROPEAN HIGH YIELD
Cable Telenet EUROPEAN HIGH YIELD
Cable United Group EUROPEAN HIGH YIELD
Cable Upc Holding EUROPEAN HIGH YIELD
Cable Virgin Media EUROPEAN HIGH YIELD
Cable Vodafoneziggo EUROPEAN HIGH YIELD
Capital Goods Belden EUROPEAN HIGH YIELD
Capital Goods Cemex EUROPEAN HIGH YIELD
Capital Goods Durr EUROPEAN CONVERTIBLE
Capital Goods Evoca EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Capital Goods Figeac EUROPEAN CONVERTIBLE
Capital Goods Fives EUROPEAN HIGH YIELD
Capital Goods GEA EUROPEAN CONVERTIBLE
Capital Goods Kiloutou EUROPEAN HIGH YIELD
Capital Goods Loxam EUROPEAN HIGH YIELD
Capital Goods MTU Aero Engines EUROPEAN CONVERTIBLE
Capital Goods Modulaire (Algeco) EUROPEAN HIGH YIELD
Capital Goods Nexans EUROPEAN HIGH YIELD
Capital Goods Pfleiderer EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Capital Goods Profine EUROPEAN HIGH YIELD
Capital Goods Prysmian EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Capital Goods Renk EUROPEAN HIGH YIELD
Capital Goods Renta EUROPEAN HIGH YIELD
Capital Goods Rexel EUROPEAN HIGH YIELD
Capital Goods Rheinmetall EUROPEAN CONVERTIBLE
Capital Goods Rolls-Royce EUROPEAN HIGH YIELD
Capital Goods Safran. EUROPEAN CONVERTIBLE
Capital Goods Schneider EUROPEAN CONVERTIBLE
Capital Goods Thyssenkrupp Elevator EUROPEAN HIGH YIELD
Capital Goods Victoria EUROPEAN HIGH YIELD
Capital Goods Wendel DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Chemicals Arxada EUROPEAN HIGH YIELD
Chemicals Azelis EUROPEAN HIGH YIELD
Chemicals Bayer AG EUROPEAN HIGH YIELD
Chemicals Brenntag EUROPEAN CONVERTIBLE
Chemicals Cabb DISCONTINUED HIGH YIELD/EUROPEAN HIGH YIELD
Chemicals Evonik Industries AG EUROPEAN CONVERTIBLE
Chemicals Ineos EUROPEAN HIGH YIELD
Chemicals Italmatch Chemicals EUROPEAN HIGH YIELD
Chemicals Lenzing EUROPEAN HIGH YIELD
Chemicals Manuchar NV EUROPEAN HIGH YIELD
Chemicals Nobian EUROPEAN HIGH YIELD
Chemicals Oci EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Chemicals Polynt EUROPEAN HIGH YIELD
Chemicals Polypore Inc DISCONTINUED HIGH YIELD/EUROPEAN HIGH YIELD
Chemicals SNF(Spcm) EUROPEAN HIGH YIELD
Chemicals Sika EUROPEAN CONVERTIBLE
Chemicals Synthomer EUROPEAN HIGH YIELD
Chemicals The Chemours Company EUROPEAN HIGH YIELD
Construction & Utilities Audax EUROPEAN CONVERTIBLE
Construction & Utilities Consolis EUROPEAN HIGH YIELD
Construction & Utilities EDF EUROPEAN CONVERTIBLE
Construction & Utilities Encavis EUROPEAN CONVERTIBLE
Construction & Utilities Falck Renewables SpA EUROPEAN CONVERTIBLE
Construction & Utilities Getlink EUROPEAN HIGH YIELD
Construction & Utilities Iberdrola EUROPEAN CONVERTIBLE
Construction & Utilities Neoen SA EUROPEAN CONVERTIBLE
Construction & Utilities Nordex SE EUROPEAN CONVERTIBLE
Construction & Utilities OHLA EUROPEAN HIGH YIELD
Construction & Utilities Paprec EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Construction & Utilities Sacyr EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Construction & Utilities Umicore EUROPEAN CONVERTIBLE
Construction & Utilities Veolia EUROPEAN CONVERTIBLE
Construction & Utilities Voltalia EUROPEAN CONVERTIBLE
Construction & Utilities Webuild (Salini Impregilo) EUROPEAN HIGH YIELD
Consumer Goods Birkenstock EUROPEAN HIGH YIELD
Consumer Goods Boparan EUROPEAN HIGH YIELD
Consumer Goods Coty EUROPEAN HIGH YIELD
Consumer Goods DAVIDE CAMPARI-MILANO N.V. EUROPEAN CONVERTIBLE
Consumer Goods Damm EUROPEAN CONVERTIBLE
Consumer Goods Do n Co AG EUROPEAN CONVERTIBLE
Consumer Goods Ebro Foods EUROPEAN CONVERTIBLE
Consumer Goods Energizer EUROPEAN HIGH YIELD
Consumer Goods Firmenich EUROPEAN HIGH YIELD
Consumer Goods Fomento Economico Mexicano SAB EUROPEAN CONVERTIBLE
Consumer Goods GN Store Nord EUROPEAN CONVERTIBLE
Consumer Goods Glanbia EUROPEAN CONVERTIBLE
Consumer Goods Golden Goose EUROPEAN HIGH YIELD
Consumer Goods Heineken N.V. EUROPEAN CONVERTIBLE
Consumer Goods L'Oréal EUROPEAN CONVERTIBLE
Consumer Goods LVMH EUROPEAN CONVERTIBLE
Consumer Goods Mondelez EUROPEAN CONVERTIBLE
Consumer Goods Nacon EUROPEAN CONVERTIBLE
Consumer Goods Nomad Foods (Iglo) EUROPEAN HIGH YIELD
Consumer Goods Ontex EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Consumer Goods Oriflame EUROPEAN HIGH YIELD
Consumer Goods PUMA EUROPEAN CONVERTIBLE
Consumer Goods Philips Domestic Appliance EUROPEAN HIGH YIELD
Consumer Goods Premier Foods EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Consumer Goods Remy Cointreau EUROPEAN CONVERTIBLE/DISCONTINUED CONVERT
Consumer Goods Tereos EUROPEAN HIGH YIELD
Consumer Goods adidas EUROPEAN CONVERTIBLE/DISCONTINUED HIGH YIELD
Debt Collectors Arrow Global EUROPEAN HIGH YIELD
Debt Collectors Axactor EUROPEAN HIGH YIELD
Debt Collectors Encore EUROPEAN HIGH YIELD
Debt Collectors IQera EUROPEAN HIGH YIELD
Debt Collectors Intrum Justitia EUROPEAN HIGH YIELD
Debt Collectors KRUK EUROPEAN HIGH YIELD
Debt Collectors Lowell EUROPEAN HIGH YIELD
Debt Collectors doValue EUROPEAN HIGH YIELD
Financières Ageas EUROPEAN CONVERTIBLE
Financières Bank of America EUROPEAN CONVERTIBLE
Financières Barclays EUROPEAN CONVERTIBLE
Financières Bnp Paribas Fortis EUROPEAN CONVERTIBLE
Financières Cembra Money EUROPEAN CONVERTIBLE
Financières Citigroup EUROPEAN CONVERTIBLE
Financières Edenred EUROPEAN CONVERTIBLE
Financières JPMorgan EUROPEAN CONVERTIBLE
Financières Swiss Re EUROPEAN CONVERTIBLE
Financières Worldline EUROPEAN CONVERTIBLE
Gaming 888 EUROPEAN HIGH YIELD
Gaming Allwyn International EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Gaming Cirsa EUROPEAN HIGH YIELD
Gaming Codere EUROPEAN HIGH YIELD
Gaming IGT EUROPEAN HIGH YIELD
Gaming Lottomatica EUROPEAN HIGH YIELD
Gaming Playtech EUROPEAN HIGH YIELD/DISCONTINUED CONVERT
Gaming Scientific Games EUROPEAN HIGH YIELD
Gaming Sisal EUROPEAN HIGH YIELD
Gaming Ubisoft EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD/DISCONTINUED CONVERT/EUROPEAN CONVERTIBLE
Healthcare Advanz Pharma EUROPEAN HIGH YIELD
Healthcare Almirall EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Healthcare Avantor EUROPEAN HIGH YIELD
Healthcare Basilea Pharma EUROPEAN CONVERTIBLE
Healthcare Bico EUROPEAN CONVERTIBLE
Healthcare Biocartis Group EUROPEAN CONVERTIBLE
Healthcare Biocartis Group NV EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare Biofarma EUROPEAN HIGH YIELD
Healthcare Biogroup EUROPEAN HIGH YIELD
Healthcare Catalent EUROPEAN HIGH YIELD
Healthcare Ceramtec EUROPEAN HIGH YIELD
Healthcare Cerba EUROPEAN HIGH YIELD
Healthcare Clariane EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare Cosmo Pharma EUROPEAN CONVERTIBLE
Healthcare DiaSorin SpA EUROPEAN CONVERTIBLE
Healthcare Eurofins EUROPEAN HIGH YIELD
Healthcare Fabbrica Italiana Sintetici EUROPEAN HIGH YIELD
Healthcare Fresenius Medical Care DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare Fresenius Se DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare Genfit EUROPEAN CONVERTIBLE
Healthcare Grifols EUROPEAN HIGH YIELD
Healthcare Grünenthal EUROPEAN HIGH YIELD
Healthcare Idorsia EUROPEAN CONVERTIBLE
Healthcare Iqvia EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Healthcare Kedrion EUROPEAN HIGH YIELD
Healthcare Marcolin EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Healthcare Mithra EUROPEAN CONVERTIBLE
Healthcare MorphoSys AG EUROPEAN CONVERTIBLE
Healthcare Organon EUROPEAN HIGH YIELD
Healthcare Orpea EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare Pharming EUROPEAN CONVERTIBLE
Healthcare Qiagen Fin EUROPEAN CONVERTIBLE
Healthcare Recordati EUROPEAN HIGH YIELD
Healthcare Sanofi EUROPEAN CONVERTIBLE
Healthcare Synlab EUROPEAN HIGH YIELD
Healthcare Teva EUROPEAN HIGH YIELD
Healthcare Zur Rose Group AG EUROPEAN CONVERTIBLE
Investment Holdings Artemis DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Investment Holdings CriteriaCaixa EUROPEAN CONVERTIBLE
Investment Holdings Geely EUROPEAN CONVERTIBLE
Investment Holdings Groupe Bruxelles Lambert EUROPEAN CONVERTIBLE
Investment Holdings Lagfin EUROPEAN CONVERTIBLE
Investment Holdings Orpar DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Investment Holdings Selena EUROPEAN CONVERTIBLE
Luxury & Cosmetics Kering EUROPEAN CONVERTIBLE
Media ASR Media (AS Roma) EUROPEAN HIGH YIELD
Media Banijay EUROPEAN HIGH YIELD
Media Infopro Digital EUROPEAN HIGH YIELD
Media Inter Media EUROPEAN HIGH YIELD
Media Kantar EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Media Loarre Investments EUROPEAN HIGH YIELD
Media Netflix EUROPEAN HIGH YIELD
Metals Constellium EUROPEAN HIGH YIELD
Metals Eramet EUROPEAN HIGH YIELD
Metals Kloeckner & CO EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Metals Novelis EUROPEAN HIGH YIELD
Metals Outokumpu EUROPEAN CONVERTIBLE/DISCONTINUED CONVERT
Metals Sgl Carbon EUROPEAN CONVERTIBLE
Metals Voestalpine DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Mining Glencore plc EUROPEAN CONVERTIBLE
Mining Rag Stiftung EUROPEAN CONVERTIBLE
Oil & Gas BP plc EUROPEAN CONVERTIBLE
Oil & Gas BW Offshore EUROPEAN CONVERTIBLE
Oil & Gas Borr Drilling EUROPEAN CONVERTIBLE
Oil & Gas Cgg EUROPEAN HIGH YIELD
Oil & Gas Fugro EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Oil & Gas Galp Energia EUROPEAN HIGH YIELD
Oil & Gas Repsol EUROPEAN HIGH YIELD
Oil & Gas Total Energies EUROPEAN CONVERTIBLE
Oil & Gas Vallourec EUROPEAN HIGH YIELD
Oil & Gas Wintershall Dea EUROPEAN HIGH YIELD
Packaging Ardagh Group EUROPEAN HIGH YIELD
Packaging Ball Corporation EUROPEAN HIGH YIELD
Packaging Bormioli Pharma EUROPEAN HIGH YIELD
Packaging Canpack EUROPEAN HIGH YIELD
Packaging Crown Holdings EUROPEAN HIGH YIELD
Packaging Graphic Packaging EUROPEAN HIGH YIELD
Packaging Guala Closures EUROPEAN HIGH YIELD
Packaging Huhtamaki EUROPEAN HIGH YIELD
Packaging Klöckner Pentaplast EUROPEAN HIGH YIELD
Packaging Owens Illinois EUROPEAN HIGH YIELD
Packaging Pro-Gest EUROPEAN HIGH YIELD
Packaging Progroup EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Packaging Reno de Medici EUROPEAN HIGH YIELD
Packaging Silgan EUROPEAN HIGH YIELD
Packaging Smurfit Kappa DISCONTINUED HIGH YIELD/EUROPEAN HIGH YIELD
Packaging Titan Holdings EUROPEAN HIGH YIELD
Packaging Trivium EUROPEAN HIGH YIELD
Pulp & Paper Ahlstrom EUROPEAN HIGH YIELD
Pulp & Paper Ence Energia Y Celulosa EUROPEAN CONVERTIBLE
Pulp & Paper Fedrigoni EUROPEAN HIGH YIELD
Pulp & Paper Graanul Invest EUROPEAN HIGH YIELD
Pulp & Paper Lecta EUROPEAN HIGH YIELD
Pulp & Paper Sappi EUROPEAN HIGH YIELD
Pulp & Paper Stora Enso EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Pulp & Paper Wepa EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Real Estate Adler Group EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Real Estate Adler Real Estate EUROPEAN CONVERTIBLE
Real Estate Aedas Homes EUROPEAN HIGH YIELD
Real Estate CapCo Prop EUROPEAN CONVERTIBLE
Real Estate Citycon EUROPEAN HIGH YIELD
Real Estate Corestate EUROPEAN HIGH YIELD
Real Estate Derwent EUROPEAN CONVERTIBLE
Real Estate Fastighets AB Balder EUROPEAN CONVERTIBLE
Real Estate Foncia EUROPEAN HIGH YIELD
Real Estate Heimstaden Bostad EUROPEAN HIGH YIELD
Real Estate Keepmoat EUROPEAN HIGH YIELD
Real Estate Leg Immobilien EUROPEAN CONVERTIBLE
Real Estate Miller Homes EUROPEAN HIGH YIELD
Real Estate Neinor Homes EUROPEAN HIGH YIELD
Real Estate Nexity EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Real Estate PHM Group EUROPEAN HIGH YIELD
Real Estate Primary Health Properties EUROPEAN CONVERTIBLE
Real Estate Swiss PS EUROPEAN CONVERTIBLE
Real Estate Swiss Prime Site AG EUROPEAN CONVERTIBLE
Real Estate TAG Immobilien AG EUROPEAN CONVERTIBLE
Real Estate Unibail-Rodamco EUROPEAN CONVERTIBLE/EUROPEAN HIGH YIELD
Real Estate Via Celere EUROPEAN HIGH YIELD
Retail Alain Afflelou EUROPEAN HIGH YIELD
Retail Arcaplanet EUROPEAN HIGH YIELD
Retail Asos EUROPEAN CONVERTIBLE
Retail Avolta EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Retail BM European Value Retail EUROPEAN HIGH YIELD
Retail BestSecret EUROPEAN HIGH YIELD
Retail Bigben Interactive EUROPEAN CONVERTIBLE
Retail Burger King France EUROPEAN HIGH YIELD
Retail But EUROPEAN HIGH YIELD
Retail Carrefour EUROPEAN CONVERTIBLE
Retail Casino Guichard-Perrachon EUROPEAN HIGH YIELD
Retail Cbr Fashion EUROPEAN HIGH YIELD
Retail Darty DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Retail Douglas EUROPEAN HIGH YIELD
Retail Fnac Darty EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Retail GN Store EUROPEAN CONVERTIBLE
Retail Global Fashion Group EUROPEAN CONVERTIBLE
Retail HSE24 EUROPEAN HIGH YIELD
Retail HelloFresh EUROPEAN CONVERTIBLE
Retail Hema EUROPEAN HIGH YIELD
Retail Iceland Foods EUROPEAN HIGH YIELD
Retail International Design Group EUROPEAN HIGH YIELD
Retail Isabel Marant EUROPEAN HIGH YIELD
Retail Maisons Du Monde EUROPEAN CONVERTIBLE
Retail Matalan EUROPEAN HIGH YIELD
Retail Maxeda EUROPEAN HIGH YIELD
Retail Ocado EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Retail Pernod Ricard DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Retail Picard EUROPEAN HIGH YIELD
Retail Punch Pubs EUROPEAN HIGH YIELD
Retail Rallye EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Retail Redcare Pharmacy EUROPEAN CONVERTIBLE
Retail Samsonite EUROPEAN HIGH YIELD
Retail Shop Apotheke EUROPEAN CONVERTIBLE
Retail Stonegate EUROPEAN HIGH YIELD
Retail THOM Group EUROPEAN HIGH YIELD
Retail Telepizza EUROPEAN HIGH YIELD
Retail The Very Group EUROPEAN HIGH YIELD
Retail WH Smith EUROPEAN CONVERTIBLE
Retail Zalando EUROPEAN CONVERTIBLE
Services APCOA EUROPEAN HIGH YIELD
Services Allied Universal EUROPEAN HIGH YIELD
Services Assemblin EUROPEAN HIGH YIELD
Services Atalian EUROPEAN HIGH YIELD
Services Atos DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Services Basic-Fit EUROPEAN CONVERTIBLE
Services Bureau Veritas DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Services David Lloyd Leisure EUROPEAN HIGH YIELD
Services Delivery Hero SE EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Services Elior EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Services Elis EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Services House of HR EUROPEAN HIGH YIELD
Services InPost EUROPEAN HIGH YIELD
Services JDE Peet's EUROPEAN CONVERTIBLE
Services Jet2 EUROPEAN CONVERTIBLE
Services Just Eat Takeaway.com N.V EUROPEAN CONVERTIBLE
Services Multiversity EUROPEAN HIGH YIELD
Services PeopleCert EUROPEAN HIGH YIELD
Services PureGym EUROPEAN HIGH YIELD
Services Rekeep EUROPEAN HIGH YIELD
Services Scan Global Logistics EUROPEAN HIGH YIELD
Services Selecta EUROPEAN HIGH YIELD
Services Spie DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Services Trainline EUROPEAN CONVERTIBLE
Services Verisure EUROPEAN HIGH YIELD
Shipping Hapag-Lloyd EUROPEAN HIGH YIELD
Technology AMS EUROPEAN CONVERTIBLE/EUROPEAN HIGH YIELD
Technology Almaviva EUROPEAN HIGH YIELD
Technology Amadeus IT EUROPEAN CONVERTIBLE
Technology BE Semiconductor Industries EUROPEAN CONVERTIBLE
Technology CM.com EUROPEAN CONVERTIBLE
Technology Cedacri EUROPEAN HIGH YIELD
Technology Engineering Group EUROPEAN HIGH YIELD
Technology Lutech EUROPEAN HIGH YIELD
Technology Mooney EUROPEAN HIGH YIELD
Technology Nexi EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Technology Paysafe EUROPEAN HIGH YIELD
Technology STMicroelectronics EUROPEAN CONVERTIBLE
Technology Soitec EUROPEAN CONVERTIBLE
Technology Teamsystem EUROPEAN HIGH YIELD
Technology Transcom EUROPEAN HIGH YIELD
Telecom AT-T EUROPEAN HIGH YIELD
Telecom America Movil DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Telecom Cellnex telecom EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Telecom Deutsche Telekom AG EUROPEAN CONVERTIBLE
Telecom Digi Communications EUROPEAN HIGH YIELD
Telecom Eircom EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Telecom Eolo EUROPEAN HIGH YIELD
Telecom Helios EUROPEAN CONVERTIBLE
Telecom Iliad EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Telecom KPN EUROPEAN CONVERTIBLE
Telecom MásMóvil EUROPEAN HIGH YIELD
Telecom Tdc EUROPEAN HIGH YIELD
Telecom Telecom Italia EUROPEAN HIGH YIELD
Telecom Telekom Austria EUROPEAN CONVERTIBLE
Travel Accor EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Travel Air France - Klm EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Travel Avis Budget DISCONTINUED HIGH YIELD/EUROPEAN HIGH YIELD
Travel Carnival Corporation & PLC EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Travel Deutsche Post EUROPEAN CONVERTIBLE
Travel Edreams Odigeo EUROPEAN HIGH YIELD
Travel Finnair EUROPEAN HIGH YIELD
Travel Hertz EUROPEAN HIGH YIELD
Travel Hurtigruten EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Travel Iag EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Travel Lufthansa EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Travel Merlin Entertainments Plc EUROPEAN HIGH YIELD
Travel Nh Hotels EUROPEAN HIGH YIELD
Travel Sani Ikos EUROPEAN HIGH YIELD
Travel TUI Cruises EUROPEAN HIGH YIELD
Travel Travelodge EUROPEAN HIGH YIELD
Travel Tui Group EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Travel Tui Travel Plc DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Travel Wfs EUROPEAN HIGH YIELD