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ISM Market Research
Alliance Oil: Negative headline risk remains, CB looking increasingly attractive
African Minerals: FY2011 results, take profits in Feb 17 convertible
Lonrho: FY12 forecast downgrade, Rubicon announcement in 2-4 weeks
Monthly Best Ideas: Mar 12
TMK OAO: 2015 CB credit cheap to straights - we stay neutral
African Minerals: Buy February 2017 8.5% convertible bonds
Sportingbet: H1 2012 results analysis: Buy June 2016 7% convertible bonds
Steinhoff: Forecast update: 2016 CB cheap to theoretical value
Vedanta, Sterlite, Sesa Goa: Take profits in convertible bonds
Paladin Energy: Q2 results and liquidity update
Talvivaara: Positive FY11 results we turn neutral on 2013 2015 CBs
Western Areas: H1 2012 results we remove our buy on the 2015 CB
Essar Energy: Speculative buy
European REITS: Mixed outlook Gecina and Unibail stand out
Lonrho: Business update positive event risk in the horizon
Olam: Strong growth profile, attractive convexity on the 2016 CB
Suzlon: We remove our buy recommendation on Suzlon 0% June 2012 bonds
Monthly Best Ideas: Dec 11
Sportingbet PLC: Buy Sportingbet June 2016 7% convertible bonds
Vedanta, Sterlite Industries, Sesa Goa: Review of Vedanta Group bonds
Lonrho PLC: High expectations for 2012 we see value in the 7% 2015 convertible
Suzlon: Q2 FY2012 results and liquidity update
Steinhoff International Holdings: Limited impact on CB from KAP reverse takeover
Monthly Best Ideas: Attractive yield plays emerge from correction
Talvivaara Mining Co PLC: Model update value emerging in the 5.25% 2013 CB
European Airlines: Can legacy carriers survive another crisis?
Paladin Energy: Paladin liquidity update following equity placement
Paladin Energy: Paladin FY2012 results
Monthly Best Ideas: Any value in oil field services CBs ?
Western Areas NL: Solid FY11 results, we lower our nickel price forecast
CFS Retail Property Trust: Strong FY results, buy the 2016 convertible bond
Suzlon: Q1 results and liquidity update
Suzlon: Sale of Hansen stake boosts liquidity
Western Areas NL: Attractive ratchet, catalysts could trigger M&A later this year
Portugal Telecom SGPS: Opportunity to capture Portugal sovereign spread dislocation, we are confident in the credit story
Monthly Best Ideas: Jul 11
Salamander Energy PLC: Bualang continues to deliver with East Terrace discovery, many catalysts remain with 2011 drilling campaign
Paladin Energy: Paladin finds support
TMK OAO: Strong outlook, potential for margin expansion
REI Agro Limited: Marked improvement in profitability, positive on FY12
Bilcare Ltd: Oil taking its toll in Q411 FY12 results to improve
Suzlon Energy Limited: Full year results update
Paladin Energy: Opportunities in Uranium
Wilmar Int'l Ltd: Wilmar set for a strong rebound
Talvivaara Mining Co PLC: Attractive asset but valuations look stretched
Petrominerales Ltd: Strong earnings growth, exploration upside
Swiber Holdings Ltd: Attractive CB structure, we expect more contract wins
Steinhoff Intl Holdings Ltd: Buy the strategic shift
Monthly Best Ideas: Mar 11
GTL Infrastructure Limited: Near term catalysts emerging
Maoye / Intime / Parkson: Harnessing China's consumption boom
Monthly Best Ideas Portfolio
Suzlon Energy Limited: Q3 results update
Bilcare Ltd: Ineos integration reshaping the business
GTL Infrastructure Limited: Aggressive growth puts pressure on balance sheet
Hochschild Mining PLC: Recent correction makes HOC an attractive play
Petrominerales Ltd: Significant discovery in the Candelilla structure
Talvivaara Mining Co PLC: Attractive asset but mixed outlook for nickel and zinc
China Green (Holdings) Ltd: Solid H1 2011 results, led by branded beverages
Salamander Energy PLC: Attractive growth profile
Core Projects and Technologies: Opportunity in education
Suzlon Energy Limited: Tilting at windmills
Petrominerales Ltd: Strong credit, attractive assets, supportive technicals
EZRA Holdings Ltd: Management meeting key takeaways
Subsea 7/ Acergy: Industry outlook turning supportive
China Green (Holdings) Ltd: Desk note
Renewable Energy Corp: Prepare for a FiTness test in 2011
Videocon Industries Ltd: Strong market position in electronics: diversifying in oil
Bilcare Limited: 1Q11 results and acquisition of Ineos Films unit
Banco Espirito Santo (BES PL): Are the exchangeables mispriced?
Bilcare Limited: Monument/Bilcare USD54m 7% 2013 exchangeable

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