EFTA01385441.pdf
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3 January 2018
HY Corporate Credit
HY Multi Sector.Media. Cable & Satellite
iFigure 20: 2017 consumer issuance by segment (Figure 21: 2017 consumer issuance use of emcee:::
Services/dome Consumer GCP
Sec. Fr 6%
7%
Retail/Grocery
21%
New as a 12/18, 17 Nara ant WWI,
Sown Detesole flank San queenlint
[Figure 22: Food led consumer issuance in 2017 Figure 23: Refinancing S volume accelerated in 2017
$12.000 SISMOO
$11:400
$10.000 I
114.000
14000 112000
$10000
MOO 1
14000
$4.0)0
911000
12000 11000
12000
so
Contrast FocdEMv/Tab Rosana ReselCrecory SetoossiMone so
Sec. Cevastads OCP SSA Ret
62011 .201$ .2011 .201? •2014 •2015 .2014 .101?
Firer at ce12/1e1Z maw Plawarof t.V/Ss7, name
Sawn Ostische art a nop Owls*rant
Deutsche Bank Securities Inc. Page 167
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086726
CONFIDENTIAL SDNY_GM_00232910
EFTA01385441
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EFTA01385441
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