N-Q 1 a11-26741_9nq.htm N-Q

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-21337

 

Western Asset Global High Income Fund Inc.

(Exact name of registrant as specified in charter)

 

620 Eighth Avenue, New York, NY

 

10018

(Address of principal executive offices)

 

(Zip code)

 

Robert I. Frenkel, Esq.

Legg Mason & Co., LLC

100 First Stamford Place

Stamford, CT 06902

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

1-888-777-0102

 

 

Date of fiscal year end:

May 31

 

 

Date of reporting period:

August 31, 2011

 

 



 

ITEM 1.                                                     SCHEDULE OF INVESTMENTS

 



 

WESTERN ASSET GLOBAL HIGH INCOME
FUND INC.

 

FORM N-Q

AUGUST 31, 2011


 

Schedule of investments (unaudited)

August 31, 2011

 

WESTERN ASSET GLOBAL HIGH INCOME FUND INC.

 

SECURITY

 

RATE

 

MATURITY
DATE

 

FACE
AMOUNT †

 

VALUE

 

CORPORATE BONDS & NOTES — 74.3%

 

 

 

 

 

 

 

 

 

CONSUMER DISCRETIONARY — 14.4%

 

 

 

 

 

 

 

 

 

Auto Components — 0.3%

 

 

 

 

 

 

 

 

 

Europcar Groupe SA, Senior Notes

 

9.375%

 

4/15/18

 

1,075,000

EUR

$

1,273,997

(a)

Automobiles — 0.4%

 

 

 

 

 

 

 

 

 

Escrow GCB General Motors

 

8.250%

 

7/15/23

 

300,000

 

3,750

(a)(b)(c)

Escrow GCB General Motors

 

8.375%

 

7/15/49

 

3,500,000

 

43,750

(a)(b)(c)

Ford Motor Credit Co., LLC, Senior Notes

 

7.500%

 

8/1/12

 

1,930,000

 

2,009,211

(d)

Total Automobiles

 

 

 

 

 

 

 

2,056,711

 

Diversified Consumer Services — 0.7%

 

 

 

 

 

 

 

 

 

Odeon & UCI Finco PLC, Senior Secured Notes

 

9.000%

 

8/1/18

 

1,060,000

GBP

1,583,042

(a)

Service Corp. International, Senior Notes

 

7.625%

 

10/1/18

 

185,000

 

198,875

 

Service Corp. International, Senior Notes

 

7.500%

 

4/1/27

 

520,000

 

488,800

(d)

Sotheby’s, Senior Notes

 

7.750%

 

6/15/15

 

910,000

 

969,150

(d)

Stonemor Operating LLC/Cornerstone Family Services of WV/Osiris Holding, Senior Notes

 

10.250%

 

12/1/17

 

210,000

 

203,700

(d)

Total Diversified Consumer Services

 

 

 

 

 

 

 

3,443,567

 

Hotels, Restaurants & Leisure — 4.0%

 

 

 

 

 

 

 

 

 

Boyd Gaming Corp., Senior Notes

 

9.125%

 

12/1/18

 

160,000

 

150,000

(a)

Caesars Entertainment Operating Co. Inc., Senior Notes

 

10.750%

 

2/1/16

 

1,640,000

 

1,406,300

 

Caesars Entertainment Operating Co. Inc., Senior Secured Notes

 

10.000%

 

12/15/15

 

210,000

 

197,925

 

Caesars Entertainment Operating Co. Inc., Senior Secured Notes

 

11.250%

 

6/1/17

 

1,280,000

 

1,385,600

(d)

Choctaw Resort Development Enterprise, Senior Notes

 

7.250%

 

11/15/19

 

503,000

 

345,813

(a)

CityCenter Holdings LLC/CityCenter Finance Corp., Senior Secured Notes

 

10.750%

 

1/15/17

 

1,287,811

 

1,223,420

(a)(e)

Downstream Development Quapaw, Senior Secured Notes

 

10.500%

 

7/1/19

 

700,000

 

675,500

(a)(d)

El Pollo Loco Inc., Secured Notes

 

17.000%

 

1/1/18

 

1,400,000

 

1,358,000

(a)

Enterprise Inns PLC, Senior Secured Bonds

 

6.500%

 

12/6/18

 

1,095,000

GBP

1,365,474

 

Fiesta Restaurant Group, Secured Notes

 

8.875%

 

8/15/16

 

390,000

 

389,025

(a)(d)

Hoa Restaurant Group LLC/Hoa Finance Corp., Senior Secured Notes

 

11.250%

 

4/1/17

 

610,000

 

591,700

(a)(d)

Inn of the Mountain Gods Resort & Casino, Senior Secured Notes

 

8.750%

 

11/30/20

 

519,000

 

511,215

(a)

Landry’s Holdings Inc., Senior Secured Notes

 

11.500%

 

6/1/14

 

800,000

 

790,000

(a)

Landry’s Restaurants Inc., Senior Secured Notes

 

11.625%

 

12/1/15

 

565,000

 

597,487

(d)

Landry’s Restaurants Inc., Senior Secured Notes

 

11.625%

 

12/1/15

 

190,000

 

200,925

(a)

MGM Resorts International, Senior Secured Notes

 

10.375%

 

5/15/14

 

475,000

 

523,687

 

MGM Resorts International, Senior Secured Notes

 

11.125%

 

11/15/17

 

1,135,000

 

1,271,200

 

Mohegan Tribal Gaming Authority, Senior Subordinated Notes

 

8.000%

 

4/1/12

 

1,510,000

 

1,102,300

 

Mohegan Tribal Gaming Authority, Senior Subordinated Notes

 

7.125%

 

8/15/14

 

675,000

 

376,313

 

Mohegan Tribal Gaming Authority, Senior Subordinated Notes

 

6.875%

 

2/15/15

 

625,000

 

342,188

 

NCL Corp. Ltd., Senior Notes

 

9.500%

 

11/15/18

 

1,770,000

 

1,840,800

(a)

NCL Corp. Ltd., Senior Secured Notes

 

11.750%

 

11/15/16

 

730,000

 

821,250

 

Pinnacle Entertainment Inc., Senior Subordinated Notes

 

7.500%

 

6/15/15

 

190,000

 

190,475

 

Pinnacle Entertainment Inc., Senior Subordinated Notes

 

8.750%

 

5/15/20

 

140,000

 

141,400

 

Seven Seas Cruises S de RL LLC, Senior Secured Notes

 

9.125%

 

5/15/19

 

800,000

 

796,000

(a)

Snoqualmie Entertainment Authority, Senior Secured Notes

 

4.179%

 

2/1/14

 

150,000

 

133,500

(a)(f)

Station Casinos Inc., Senior Notes

 

6.000%

 

4/1/12

 

110,000

 

11

(b)(c)

Station Casinos Inc., Senior Notes

 

7.750%

 

8/15/16

 

760,000

 

76

(b)(c)

Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., Secured Notes

 

8.625%

 

4/15/16

 

750,000

 

750,000

(a)(d)

 

See Notes to Schedule of Investments.

 

1


 

Schedule of investments (unaudited) (cont’d)

August 31, 2011

 

WESTERN ASSET GLOBAL HIGH INCOME FUND INC.

 

SECURITY

 

RATE

 

MATURITY
DATE

 

FACE
AMOUNT †

 

VALUE

 

Hotels, Restaurants & Leisure — continued

 

 

 

 

 

 

 

 

 

Thomas Cook Group PLC, Senior Notes

 

7.750%

 

6/22/17

 

548,000

GBP

$

678,296

 

Total Hotels, Restaurants & Leisure

 

 

 

 

 

 

 

20,155,880

 

Household Durables — 0.3%

 

 

 

 

 

 

 

 

 

DFS Furniture Holdings PLC, Senior Secured Notes

 

9.750%

 

7/15/17

 

676,000

GBP

954,695

(a)

Standard Pacific Corp., Senior Notes

 

8.375%

 

1/15/21

 

610,000

 

527,650

(d)

Total Household Durables

 

 

 

 

 

 

 

1,482,345

 

Internet & Catalog Retail — 0.3%

 

 

 

 

 

 

 

 

 

Netflix Inc., Senior Notes

 

8.500%

 

11/15/17

 

780,000

 

861,900

(d)

QVC Inc., Senior Secured Notes

 

7.375%

 

10/15/20

 

480,000

 

518,400

(a)(d)

Total Internet & Catalog Retail

 

 

 

 

 

 

 

1,380,300

 

Media — 6.0%

 

 

 

 

 

 

 

 

 

CCH II LLC/CCH II Capital Corp., Senior Notes

 

13.500%

 

11/30/16

 

611,752

 

709,632

(d)

CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes

 

7.875%

 

4/30/18

 

1,790,000

 

1,870,550

(d)

CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes

 

8.125%

 

4/30/20

 

2,180,000

 

2,316,250

(d)

Cengage Learning Acquisitions Inc., Senior Notes

 

10.500%

 

1/15/15

 

3,020,000

 

2,340,500

(a)

Cengage Learning Acquisitions Inc., Senior Subordinated Notes

 

13.250%

 

7/15/15

 

250,000

 

183,750

(a)

Charter Communications Inc., Senior Notes

 

6.500%

 

4/30/21

 

760,000

 

746,700

(d)

CMP Susquehanna Corp.

 

3.443%

 

5/15/14

 

46,000

 

45,944

(a)(b)(f)

CSC Holdings Inc., Senior Debentures

 

7.875%

 

2/15/18

 

1,500,000

 

1,593,750

(d)

DISH DBS Corp., Senior Notes

 

7.875%

 

9/1/19

 

1,080,000

 

1,152,900

(d)

Good Sam Enterprises LLC, Secured Notes

 

11.500%

 

12/1/16

 

800,000

 

788,000

 

Grupo Televisa SA, Senior Bonds

 

6.625%

 

1/15/40

 

1,300,000

 

1,401,026

(d)

ITV PLC, Senior Notes

 

10.000%

 

6/30/14

 

2,000,000

EUR

3,210,580

 

LBI Media Inc., Senior Secured Notes

 

9.250%

 

4/15/19

 

760,000

 

688,750

(a)(d)

Musketeer GmbH, Senior Secured Notes

 

9.500%

 

3/15/21

 

1,250,000

EUR

1,800,115

(a)

Nara Cable Funding Ltd., Senior Secured Notes

 

8.875%

 

12/1/18

 

1,500,000

EUR

1,890,794

(a)

NET Servicos de Comunicacao SA, Bonds

 

7.500%

 

1/27/20

 

480,000

 

560,400

 

Nielsen Finance LLC/Nielsen Finance Co., Senior Notes

 

11.500%

 

5/1/16

 

30,000

 

34,275

 

Nielsen Finance LLC/Nielsen Finance Co., Senior Notes

 

7.750%

 

10/15/18

 

600,000

 

622,500

 

Ono Finance II PLC, Senior Bonds

 

11.125%

 

7/15/19

 

890,000

EUR

1,115,479

(a)

Polish Television Holding BV, Senior Secured Bonds, step bond

 

11.250%

 

5/15/17

 

675,000

EUR

974,486

(a)(g)

Seat Pagine Gialle SpA, Senior Secured Notes

 

10.500%

 

1/31/17

 

366,000

EUR

439,009

(a)

Time Warner Inc.

 

6.500%

 

11/15/36

 

160,000

 

179,582

 

TVN Finance Corp. III AB, Senior Notes

 

7.875%

 

11/15/18

 

225,000

EUR

308,668

(a)

Univision Communications Inc., Senior Notes

 

8.500%

 

5/15/21

 

540,000

 

464,400

(a)

Univision Communications Inc., Senior Secured Notes

 

6.875%

 

5/15/19

 

840,000

 

781,200

(a)(d)

Univision Communications Inc., Senior Secured Notes

 

7.875%

 

11/1/20

 

820,000

 

791,300

(a)(d)

UPC Holding BV, Senior Notes

 

9.875%

 

4/15/18

 

330,000

 

346,500

(a)

UPCB Finance III Ltd., Senior Secured Notes

 

6.625%

 

7/1/20

 

520,000

 

514,800

(a)

Ziggo Bond Co. BV, Senior Notes

 

8.000%

 

5/15/18

 

1,450,000

EUR

2,046,475

(a)

Total Media

 

 

 

 

 

 

 

29,918,315

 

Multiline Retail — 0.4%

 

 

 

 

 

 

 

 

 

Neiman Marcus Group Inc., Senior Secured Notes

 

7.125%

 

6/1/28

 

2,490,000

 

2,253,450

(d)

Specialty Retail — 1.6%

 

 

 

 

 

 

 

 

 

American Greetings Corp., Senior Notes

 

7.375%

 

6/1/16

 

1,770,000

 

1,818,675

(d)

American Greetings Corp., Senior Notes

 

7.375%

 

6/1/16

 

120,000

 

118,500

 

American Greetings Corp., Senior Notes

 

7.375%

 

6/1/16

 

110,000

 

108,625

 

Edcon Proprietary Ltd., Senior Secured Notes

 

9.500%

 

3/1/18

 

1,825,000

EUR

2,064,521

(a)

Gymboree Corp., Senior Notes

 

9.125%

 

12/1/18

 

1,030,000

 

896,100

 

Michaels Stores Inc., Senior Subordinated Notes, step bond

 

0.000%

 

11/1/16

 

2,490,000

 

2,552,250

 

 

See Notes to Schedule of Investments.

 

2


 

Schedule of investments (unaudited) (cont’d)

August 31, 2011

 

WESTERN ASSET GLOBAL HIGH INCOME FUND INC.

 

SECURITY

 

RATE

 

MATURITY
DATE

 

FACE
AMOUNT †

 

VALUE

 

Specialty Retail — continued

 

 

 

 

 

 

 

 

 

Spencer Spirit Holdings Inc./Spencer Gifts LLC/Spirit Halloween Superstores, Senior Notes

 

11.000%

 

5/1/17

 

 

490,000

 

$

483,875

(a)(d)

Total Specialty Retail

 

 

 

 

 

 

 

8,042,546

 

Textiles, Apparel & Luxury Goods — 0.4%

 

 

 

 

 

 

 

 

 

Burlington Coat Factory Warehouse Corp., Senior Notes

 

10.000%

 

2/15/19

 

510,000

 

478,125

(a)

Empire Today LLC/Empire Today Finance Corp., Senior Secured Notes

 

11.375%

 

2/1/17

 

350,000

 

329,000

(a)(d)

Oxford Industries Inc., Senior Secured Notes

 

11.375%

 

7/15/15

 

1,115,000

 

1,243,225

(d)

Total Textiles, Apparel & Luxury Goods

 

 

 

 

 

 

 

2,050,350

 

TOTAL CONSUMER DISCRETIONARY

 

 

 

 

 

 

 

72,057,461

 

CONSUMER STAPLES — 1.4%

 

 

 

 

 

 

 

 

 

Beverages — 0.2%

 

 

 

 

 

 

 

 

 

Constellation Brands Inc., Senior Notes

 

8.375%

 

12/15/14

 

785,000

 

875,275

(d)

Food Products — 1.0%

 

 

 

 

 

 

 

 

 

Blue Merger Sub Inc., Senior Notes

 

7.625%

 

2/15/19

 

1,220,000

 

1,216,950

(a)(d)

Boparan Holdings Ltd., Senior Notes

 

9.875%

 

4/30/18

 

900,000

GBP

1,157,819

(a)

Bumble Bee Acquisition Co., Senior Secured Notes

 

9.000%

 

12/15/17

 

470,000

 

458,250

(a)(d)

Foodcorp Ltd., Senior Secured Notes

 

8.750%

 

3/1/18

 

650,000

EUR

817,010

(a)

Harmony Foods Corp., Senior Secured Notes

 

10.000%

 

5/1/16

 

340,000

 

339,150

(a)(d)

Simmons Foods Inc., Senior Secured Notes

 

10.500%

 

11/1/17

 

1,180,000

 

1,082,650

(a)

Total Food Products

 

 

 

 

 

 

 

5,071,829

 

Household Products — 0.0%

 

 

 

 

 

 

 

 

 

Reynolds Group DL Escrow Inc./Reynolds Group Escrow LLC, Senior Secured Notes

 

8.750%

 

10/15/16

 

100,000

 

102,750

(a)

Personal Products — 0.1%

 

 

 

 

 

 

 

 

 

Hypermarcas SA, Notes

 

6.500%

 

4/20/21

 

480,000

 

468,480

(a)

Tobacco — 0.1%

 

 

 

 

 

 

 

 

 

Alliance One International Inc., Senior Notes

 

10.000%

 

7/15/16

 

460,000

 

418,025

(d)

TOTAL CONSUMER STAPLES

 

 

 

 

 

 

 

6,936,359

 

ENERGY — 12.2%

 

 

 

 

 

 

 

 

 

Energy Equipment & Services — 0.9%

 

 

 

 

 

 

 

 

 

Complete Production Services Inc., Senior Notes

 

8.000%

 

12/15/16

 

560,000

 

568,400

(d)

Hercules Offshore LLC, Senior Secured Notes

 

10.500%

 

10/15/17

 

995,000

 

985,050

(a)

Parker Drilling Co., Senior Notes

 

9.125%

 

4/1/18

 

720,000

 

752,400

(d)

Transocean Inc., Senior Notes

 

5.250%

 

3/15/13

 

390,000

 

411,232

(d)

Vantage Drilling Co., Senior Secured Notes

 

11.500%

 

8/1/15

 

1,780,000

 

1,904,600

 

Total Energy Equipment & Services

 

 

 

 

 

 

 

4,621,682

 

Oil, Gas & Consumable Fuels — 11.3%

 

 

 

 

 

 

 

 

 

Anadarko Petroleum Corp., Senior Notes

 

6.450%

 

9/15/36

 

50,000

 

53,449

 

Apache Corp., Senior Notes

 

6.000%

 

1/15/37

 

280,000

 

333,676

(d)

Berry Petroleum Co., Senior Notes

 

10.250%

 

6/1/14

 

670,000

 

753,750

(d)

Calumet Specialty Products Partners LP/Calumet Finance Corp., Senior Notes

 

9.375%

 

5/1/19

 

580,000

 

562,600

(a)(d)

Chesapeake Energy Corp., Senior Notes

 

7.250%

 

12/15/18

 

1,100,000

 

1,188,000

(d)

Colorado Interstate Gas Co., Senior Notes

 

6.800%

 

11/15/15

 

160,000

 

188,337

 

Compagnie Generale de Geophysique-Veritas, Senior Notes

 

9.500%

 

5/15/16

 

230,000

 

243,225

(d)

CONSOL Energy Inc., Senior Notes

 

8.250%

 

4/1/20

 

790,000

 

853,200

(d)

Corral Petroleum Holdings AB, Senior Bonds

 

15.000%

 

9/18/11

 

403,111

 

386,987

(a)(b)(e)(g)

Devon Energy Corp., Debentures

 

7.950%

 

4/15/32

 

230,000

 

314,146

(d)

Dolphin Energy Ltd., Senior Secured Bonds

 

5.888%

 

6/15/19

 

1,157,516

 

1,273,728

(a)

Ecopetrol SA, Senior Notes

 

7.625%

 

7/23/19

 

1,900,000

 

2,322,750

(d)

El Paso Corp., Medium-Term Notes

 

7.375%

 

12/15/12

 

1,059,000

 

1,124,552

(d)

El Paso Corp., Medium-Term Notes

 

7.750%

 

1/15/32

 

1,260,000

 

1,416,054

(d)

El Paso Natural Gas Co., Bonds

 

8.375%

 

6/15/32

 

70,000

 

92,218

 

Enterprise Products Operating LLP, Junior Subordinated Notes

 

8.375%

 

8/1/66

 

980,000

 

1,026,350

(d)(f)

Enterprise Products Operating LLP, Senior Bonds

 

6.300%

 

9/15/17

 

550,000

 

646,771

(d)

EXCO Resources Inc., Senior Notes

 

7.500%

 

9/15/18

 

1,500,000

 

1,413,750

(d)

KazMunaiGaz Finance Sub BV, Senior Notes

 

8.375%

 

7/2/13

 

2,640,000

 

2,851,200

(a)(d)

 

See Notes to Schedule of Investments.

 

3


 

Schedule of investments (unaudited) (cont’d)

August 31, 2011

 

WESTERN ASSET GLOBAL HIGH INCOME FUND INC.

 

SECURITY

 

RATE

 

MATURITY
DATE

 

FACE
AMOUNT †

 

VALUE

 

Oil, Gas & Consumable Fuels — continued

 

 

 

 

 

 

 

 

 

Kerr-McGee Corp., Notes

 

6.950%

 

7/1/24

 

 

920,000

 

$

1,083,889

 

Kinder Morgan Energy Partners LP, Medium-Term Notes

 

6.950%

 

1/15/38

 

330,000

 

368,009

(d)

LUKOIL International Finance BV, Bonds

 

6.356%

 

6/7/17

 

1,542,000

 

1,661,505

(a)(d)

LUKOIL International Finance BV, Bonds

 

6.656%

 

6/7/22

 

946,000

 

986,205

(a)

MarkWest Energy Partners LP/MarkWest Energy Finance Corp., Senior Notes

 

6.750%

 

11/1/20

 

490,000

 

504,700

(d)

MarkWest Energy Partners LP/MarkWest Energy Finance Corp., Senior Notes

 

6.500%

 

8/15/21

 

220,000

 

224,950

 

Milagro Oil & Gas Inc., Secured Notes

 

10.500%

 

5/15/16

 

900,000

 

774,000

(a)

Novatek Finance Ltd., Notes

 

6.604%

 

2/3/21

 

820,000

 

861,000

(a)

Offshore Group Investments Ltd., Senior Secured Notes

 

11.500%

 

8/1/15

 

330,000

 

353,100

(a)

Overseas Shipholding Group Inc., Senior Notes

 

8.125%

 

3/30/18

 

1,680,000

 

1,436,400

(d)

Pan American Energy LLC, Senior Notes

 

7.875%

 

5/7/21

 

850,000

 

884,000

(a)

Pan American Energy LLC, Senior Notes

 

7.875%

 

5/7/21

 

462,000

 

480,480

(a)

Peabody Energy Corp., Senior Notes

 

7.875%

 

11/1/26

 

1,040,000

 

1,141,400

(d)

Pemex Project Funding Master Trust, Senior Bonds

 

6.625%

 

6/15/35

 

3,387,000

 

3,760,173

(h)

Petrobras International Finance Co., Senior Notes

 

6.875%

 

1/20/40

 

1,620,000

 

1,865,678

(d)

Petrobras International Finance Co., Senior Notes

 

6.750%

 

1/27/41

 

710,000

 

805,850

(d)

Petroleos Mexicanos, Notes

 

8.000%

 

5/3/19

 

2,150,000

 

2,722,975

(h)

Petroleos Mexicanos, Senior Notes

 

5.500%

 

1/21/21

 

970,000

 

1,060,695

(d)

Petroleum Co. of Trinidad & Tobago Ltd., Senior Notes

 

9.750%

 

8/14/19

 

870,000

 

1,057,050

(a)(d)

Petronas Capital Ltd.

 

5.250%

 

8/12/19

 

2,385,000

 

2,675,061

(a)(d)

Petronas Capital Ltd., Senior Notes

 

5.250%

 

8/12/19

 

560,000

 

625,587

(a)

Petroplus Finance Ltd., Senior Notes

 

6.750%

 

5/1/14

 

690,000

 

624,450

(a)(d)

Petroplus Finance Ltd., Senior Notes

 

7.000%

 

5/1/17

 

410,000

 

358,750

(a)

Plains Exploration & Production Co., Senior Notes

 

10.000%

 

3/1/16

 

585,000

 

649,350

(d)

Plains Exploration & Production Co., Senior Notes

 

8.625%

 

10/15/19

 

515,000

 

561,350

(d)

PT Pertamina Persero, Notes

 

5.250%

 

5/23/21

 

1,040,000

 

1,086,800

(a)(d)

Quicksilver Resources Inc., Senior Notes

 

11.750%

 

1/1/16

 

2,005,000

 

2,220,537

(d)

Range Resources Corp., Senior Subordinated Notes

 

8.000%

 

5/15/19

 

460,000

 

502,550

(d)

Ras Laffan Liquefied Natural Gas Co., Ltd. III, Senior Secured Bonds

 

6.750%

 

9/30/19

 

1,007,000

 

1,212,176

(a)

Reliance Holdings USA Inc., Senior Notes

 

4.500%

 

10/19/20

 

970,000

 

928,268

(a)(d)

SandRidge Energy Inc., Senior Notes

 

7.500%

 

3/15/21

 

270,000

 

263,588

(a)(d)

Saratoga Resources Inc., Senior Secured Notes

 

12.500%

 

7/1/16

 

700,000

 

689,500

(a)

Teekay Corp., Senior Notes

 

8.500%

 

1/15/20

 

930,000

 

909,075

 

TNK-BP Finance SA

 

6.625%

 

3/20/17

 

550,000

 

595,375

(a)

TNK-BP Finance SA, Senior Notes

 

7.500%

 

7/18/16

 

240,000

 

268,800

(a)

TNK-BP Finance SA, Senior Notes

 

7.875%

 

3/13/18

 

1,490,000

 

1,707,838

(a)(d)

Williams Cos. Inc., Senior Notes

 

8.750%

 

3/15/32

 

785,000

 

1,021,341

 

Xinergy Ltd., Senior Secured Notes

 

9.250%

 

5/15/19

 

790,000

 

746,550

(a)

Total Oil, Gas & Consumable Fuels

 

 

 

 

 

 

 

56,723,748

 

TOTAL ENERGY

 

 

 

 

 

 

 

61,345,430

 

FINANCIALS — 8.4%

 

 

 

 

 

 

 

 

 

Capital Markets — 1.1%

 

 

 

 

 

 

 

 

 

Goldman Sachs Group Inc., Senior Notes

 

6.150%

 

4/1/18

 

330,000

 

353,204

(d)

Goldman Sachs Group Inc., Senior Notes

 

7.500%

 

2/15/19

 

1,430,000

 

1,635,976

(d)

Goldman Sachs Group Inc., Subordinated Notes

 

6.750%

 

10/1/37

 

2,500,000

 

2,380,105

(d)

Merrill Lynch & Co. Inc., Notes

 

6.875%

 

4/25/18

 

390,000

 

405,285

(d)

Morgan Stanley, Medium-Term Notes

 

6.625%

 

4/1/18

 

470,000

 

504,282

(d)

Total Capital Markets

 

 

 

 

 

 

 

5,278,852

 

Commercial Banks — 0.6%

 

 

 

 

 

 

 

 

 

Banco Mercantil del Norte SA, Subordinated Bonds

 

6.135%

 

10/13/16

 

1,050,000

 

1,039,500

(a)(f)

BankAmerica Institutional Capital B, Junior Subordinated Bonds

 

7.700%

 

12/31/26

 

900,000

 

888,750

(a)

CIT Group Inc., Senior Secured Bonds

 

7.000%

 

5/1/16

 

349,046

 

347,737

(d)

Credit Agricole SA, Subordinated Notes

 

8.375%

 

10/13/19

 

490,000

 

453,250

(a)(d)(f)(i)

Matalan Finance Ltd., Senior Notes

 

9.625%

 

3/31/17

 

84,000

GBP

94,768

(a)

 

See Notes to Schedule of Investments.

 

4


 

Schedule of investments (unaudited) (cont’d)

August 31, 2011

 

WESTERN ASSET GLOBAL HIGH INCOME FUND INC.

 

SECURITY

 

RATE

 

MATURITY
DATE

 

FACE
AMOUNT †

 

VALUE

 

Commercial Banks — continued

 

 

 

 

 

 

 

 

 

Royal Bank of Scotland Group PLC, Junior Subordinated Bonds

 

7.648%

 

9/30/31

 

 

460,000

 

$

347,300

(d)(f)(i)

Total Commercial Banks

 

 

 

 

 

 

 

3,171,305

 

Consumer Finance — 1.2%

 

 

 

 

 

 

 

 

 

Ally Financial Inc., Senior Bonds

 

0.000%

 

12/1/12

 

1,330,000

 

1,226,925

(d)

Ally Financial Inc., Senior Notes

 

8.000%

 

11/1/31

 

1,957,000

 

1,922,752

(d)

American Express Co., Notes

 

7.000%

 

3/19/18

 

260,000

 

309,988

(d)

GMAC International Finance BV, Senior Bonds

 

7.500%

 

4/21/15

 

910,000

EUR

1,248,391

 

HSBC Finance Corp., Senior Subordinated Notes

 

6.676%

 

1/15/21

 

970,000

 

939,222

(a)(d)

SLM Corp., Medium-Term Notes

 

8.000%

 

3/25/20

 

280,000

 

288,409

 

Total Consumer Finance

 

 

 

 

 

 

 

5,935,687

 

Diversified Financial Services — 4.0%

 

 

 

 

 

 

 

 

 

Bank of America Corp., Senior Notes

 

5.650%

 

5/1/18

 

490,000

 

500,711

(d)

Bank of America Corp., Senior Notes

 

7.625%

 

6/1/19

 

1,480,000

 

1,674,326

(d)

Bankrate Inc., Senior Secured Notes

 

11.750%

 

7/15/15

 

676,000

 

767,260

 

Boats Investments (Netherlands) BV, Secured Notes

 

9.031%

 

12/15/15

 

1,299,454

EUR

1,306,667

(e)(f)

Citigroup Inc., Senior Notes

 

8.500%

 

5/22/19

 

2,000,000

 

2,448,144

(d)

General Electric Capital Corp., Senior Notes

 

5.625%

 

5/1/18

 

650,000

 

721,338

(d)

General Electric Capital Corp., Senior Notes

 

4.625%

 

1/7/21

 

2,090,000

 

2,158,725

(d)

International Lease Finance Corp., Senior Notes

 

8.750%

 

3/15/17

 

1,620,000

 

1,668,600

 

International Lease Finance Corp., Senior Notes

 

8.250%

 

12/15/20

 

2,360,000

 

2,407,200

 

ISS Financing PLC, Senior Secured Bonds

 

11.000%

 

6/15/14

 

2,000,000

EUR

2,995,104

(a)

LBI Escrow Corp., Senior Secured Notes

 

8.000%

 

11/1/17

 

798,660

EUR

1,221,849

(a)

Residential Capital LLC, Junior Secured Notes

 

9.625%

 

5/15/15

 

880,000

 

784,300

 

Telenet Finance III Luxembourg S.C.A., Senior Secured Notes

 

6.625%

 

2/15/21

 

1,100,000

EUR

1,461,640

(a)

Total Diversified Financial Services

 

 

 

 

 

 

 

20,115,864

 

Insurance — 1.0%

 

 

 

 

 

 

 

 

 

American International Group Inc., Senior Notes

 

8.250%

 

8/15/18

 

4,000,000

 

4,524,020

(d)

Dai-ichi Life Insurance Co., Ltd., Subordinated Notes

 

7.250%

 

7/25/21

 

360,000

 

367,447

(a)(d)(f)(i)

ING Capital Funding Trust III, Junior Subordinated Bonds

 

3.846%

 

12/31/11

 

240,000

 

207,453

(f)(i)

Total Insurance

 

 

 

 

 

 

 

5,098,920

 

Real Estate Investment Trusts (REITs) — 0.3%

 

 

 

 

 

 

 

 

 

WEA Finance LLC/WT Finance Aust Pty. Ltd., Senior Notes

 

6.750%

 

9/2/19

 

1,360,000

 

1,544,392

(a)(d)

Real Estate Management & Development — 0.2%

 

 

 

 

 

 

 

 

 

Countrywide Holdings, Senior Secured Notes

 

10.000%

 

5/8/18

 

740,000

GBP

1,189,230

(a)

TOTAL FINANCIALS

 

 

 

 

 

 

 

42,334,250

 

HEALTH CARE — 3.8%

 

 

 

 

 

 

 

 

 

Health Care Equipment & Supplies — 0.4%

 

 

 

 

 

 

 

 

 

Biomet Inc., Senior Notes

 

10.000%

 

10/15/17

 

370,000

 

389,425

(d)

Biomet Inc., Senior Toggle Notes

 

10.375%

 

10/15/17

 

500,000

 

530,000

(d)(e)

Ontex, Senior Notes

 

9.000%

 

4/15/19

 

640,000

EUR

719,400

(a)

Ontex IV SA, Senior Notes

 

9.000%

 

4/15/19

 

400,000

EUR

449,625

(a)

Total Health Care Equipment & Supplies

 

 

 

 

 

 

 

2,088,450

 

Health Care Providers & Services — 2.8%

 

 

 

 

 

 

 

 

 

American Renal Holdings, Senior Notes

 

9.750%

 

3/1/16

 

820,000

 

780,691

(a)(e)

American Renal Holdings, Senior Secured Notes

 

8.375%

 

5/15/18

 

670,000

 

671,675

(d)

Community Health Systems Inc., Senior Notes

 

8.875%

 

7/15/15

 

620,000

 

630,075

(d)

CRC Health Corp., Senior Subordinated Notes

 

10.750%

 

2/1/16

 

2,560,000

 

2,572,800

 

ExamWorks Group Inc., Senior Notes

 

9.000%

 

7/15/19

 

500,000

 

473,750

(a)

Fresenius Medical Care U.S. Finance Inc., Senior Notes

 

6.875%

 

7/15/17

 

1,220,000

 

1,277,950

(d)

Fresenius U.S. Finance II Inc., Senior Notes

 

9.000%

 

7/15/15

 

110,000

 

123,200

(a)(d)

HCA Inc., Senior Secured Notes

 

8.500%

 

4/15/19

 

910,000

 

996,450

(d)

HCA Inc., Senior Secured Notes

 

6.500%

 

2/15/20

 

540,000

 

547,425

(d)

Humana Inc., Senior Notes

 

7.200%

 

6/15/18

 

2,000,000

 

2,391,444

(d)

INC Research LLC, Senior Notes

 

11.500%

 

7/15/19

 

380,000

 

353,400

(a)

 

See Notes to Schedule of Investments.

 

5

 


 

Schedule of investments (unaudited) (cont’d)

August 31, 2011

 

WESTERN ASSET GLOBAL HIGH INCOME FUND INC.

 

SECURITY

 

RATE

 

MATURITY
DATE

 

FACE
AMOUNT

 

VALUE

 

Health Care Providers & Services — continued

 

 

 

 

 

 

 

 

 

 

 

InVentiv Health Inc., Senior Notes

 

10.000%

 

8/15/18

 

 

780,000

 

$

707,850

(a)

Labco SAS, Senior Secured Notes

 

8.500%

 

1/15/18

 

500,000

EUR

626,673

(a)

Tenet Healthcare Corp., Senior Notes

 

6.875%

 

11/15/31

 

10,000

 

7,975

 

Tenet Healthcare Corp., Senior Secured Notes

 

10.000%

 

5/1/18

 

215,000

 

237,575

(d)

Tenet Healthcare Corp., Senior Secured Notes

 

8.875%

 

7/1/19

 

962,000

 

1,024,530

(d)

US Oncology Inc.

 

0.000%

 

8/15/17

 

150,000

 

1,875

 

Vanguard Health Holdings Co., II LLC, Senior Notes

 

8.000%

 

2/1/18

 

600,000

 

574,500

(d)

Total Health Care Providers & Services

 

 

 

 

 

 

 

13,999,838

 

Pharmaceuticals — 0.6%

 

 

 

 

 

 

 

 

 

ConvaTec Healthcare E SA, Senior Notes

 

10.875%

 

12/15/18

 

1,460,000

EUR

1,877,076

(a)

Giant Funding Corp., Senior Secured Notes

 

8.250%

 

2/1/18

 

410,000

 

412,050

(a)(d)

UCB SA, Subordinated Notes

 

7.750%

 

3/18/16

 

300,000

EUR

434,074

(f)(i)

Total Pharmaceuticals

 

 

 

 

 

 

 

2,723,200

 

TOTAL HEALTH CARE

 

 

 

 

 

 

 

18,811,488

 

INDUSTRIALS — 9.2%

 

 

 

 

 

 

 

 

 

Aerospace & Defense — 1.2%

 

 

 

 

 

 

 

 

 

Ducommun Inc., Senior Notes

 

9.750%

 

7/15/18

 

510,000

 

515,100

(a)(d)

FGI Operating Co. Inc., Senior Secured Notes

 

10.250%

 

8/1/15

 

860,000

 

915,900

 

Kratos Defense & Security Solutions Inc., Senior Notes

 

10.000%

 

6/1/17

 

110,000

 

112,475

(a)

Kratos Defense & Security Solutions Inc., Senior Secured Notes

 

10.000%

 

6/1/17

 

1,200,000

 

1,239,000

(d)

Northrop Grumman Corp., Senior Notes

 

6.875%

 

3/15/18

 

440,000

 

415,800

(a)

Northrop Grumman Corp., Senior Notes

 

7.125%

 

3/15/21

 

440,000

 

415,800

(a)

Triumph Group Inc., Senior Notes

 

8.625%

 

7/15/18

 

860,000

 

920,200

 

Wyle Services Corp., Senior Subordinated Notes

 

10.500%

 

4/1/18

 

1,550,000

 

1,544,187

(a)

Total Aerospace & Defense

 

 

 

 

 

 

 

6,078,462

 

Airlines — 1.2%

 

 

 

 

 

 

 

 

 

American Airlines Pass-Through Trust, Secured Notes

 

7.000%

 

1/31/18

 

417,227

 

358,816

(a)(d)

BAA SH PLC, Senior Secured Notes

 

7.125%

 

3/1/17

 

900,000

GBP

1,394,508

 

Continental Airlines Inc., Pass-Through Certificates

 

7.373%

 

12/15/15

 

143,599

 

143,599

(d)

Continental Airlines Inc., Pass-Through Certificates, Subordinated Secured Notes

 

7.339%

 

4/19/14

 

750,927

 

732,154

(d)

Continental Airlines Inc., Senior Secured Notes

 

6.750%

 

9/15/15

 

10,000

 

9,800

(a)(d)

DAE Aviation Holdings Inc., Senior Notes

 

11.250%

 

8/1/15

 

890,000

 

914,475

(a)

Delta Air Lines, Secured Notes

 

6.375%

 

1/2/16

 

260,000

 

234,000

(d)

Delta Air Lines Inc., Pass-Through Certificates

 

8.954%

 

8/10/14

 

84,186

 

85,028

 

Delta Air Lines Inc., Pass-Through Certificates, Secured Notes

 

8.021%

 

8/10/22

 

719,195

 

719,195

(d)

Delta Air Lines Inc., Senior Secured Notes

 

9.500%

 

9/15/14

 

287,000

 

295,610

(a)(d)

United Air Lines Inc., Senior Secured Notes

 

9.875%

 

8/1/13

 

1,062,000

 

1,099,170

(a)(d)

Total Airlines

 

 

 

 

 

 

 

5,986,355

 

Building Products — 0.5%

 

 

 

 

 

 

 

 

 

Ashton Woods USA LLC/Ashton Woods Finance Co., Senior Subordinated Notes, step bond

 

0.000%

 

6/30/15

 

169,000

 

122,103

(a)(b)

Building Materials Corp. of America, Senior Notes

 

6.750%

 

5/1/21

 

1,240,000

 

1,190,400

(a)(d)

GTL Trade Finance Inc., Senior Notes

 

7.250%

 

10/20/17

 

460,000

 

511,175

(a)

Rearden G Holdings EINS GmbH, Senior Notes

 

7.875%

 

3/30/20

 

360,000

 

374,400

(a)

Shea Homes LP, Senior Secured Notes

 

8.625%

 

5/15/19

 

520,000

 

440,700

(a)(d)

Total Building Products

 

 

 

 

 

 

 

2,638,778

 

Commercial Services & Supplies — 1.3%

 

 

 

 

 

 

 

 

 

ACCO Brands Corp., Senior Secured Notes

 

10.625%

 

3/15/15

 

890,000

 

977,888

(d)

ALBA Group PLC & Co. KG, Senior Notes

 

8.000%

 

5/15/18

 

400,000

EUR

562,390

(a)

Altegrity Inc., Senior Subordinated Notes

 

10.500%

 

11/1/15

 

1,900,000

 

1,843,000

(a)

Altegrity Inc., Senior Subordinated Notes

 

11.750%

 

5/1/16

 

1,700,000

 

1,640,500

(a)

American Reprographics Co., Senior Notes

 

10.500%

 

12/15/16

 

880,000

 

822,800

(d)

RSC Equipment Rental Inc./RSC Holdings III LLC, Senior Notes

 

8.250%

 

2/1/21

 

430,000

 

403,125

 

Total Commercial Services & Supplies

 

 

 

 

 

 

 

6,249,703

 

 

See Notes to Schedule of Investments.

 

6


 

Schedule of investments (unaudited) (cont’d)

August 31, 2011

 

WESTERN ASSET GLOBAL HIGH INCOME FUND INC.

 

SECURITY

 

RATE

 

MATURITY
DATE

 

FACE
AMOUNT

 

VALUE

 

Construction & Engineering — 0.7%

 

 

 

 

 

 

 

 

 

Abengoa Finance SAU, Senior Notes

 

8.875%

 

11/1/17

 

 

770,000

 

$

710,325

(a)

Odebrecht Finance Ltd., Senior Notes

 

7.000%

 

4/21/20

 

600,000

 

657,000

(a)

Odebrecht Finance Ltd., Senior Notes

 

6.000%

 

4/5/23

 

2,310,000

 

2,310,000

(a)

Total Construction & Engineering

 

 

 

 

 

 

 

3,677,325

 

Electrical Equipment — 0.4%

 

 

 

 

 

 

 

 

 

NES Rentals Holdings Inc., Senior Secured Notes

 

12.250%

 

4/15/15

 

1,960,000

 

1,813,000

(a)

Industrial Conglomerates — 0.3%

 

 

 

 

 

 

 

 

 

Leucadia National Corp., Senior Notes

 

8.125%

 

9/15/15

 

540,000

 

582,525

(d)

Sinochem Overseas Capital Co., Ltd., Senior Notes

 

4.500%

 

11/12/20

 

780,000

 

778,641

(a)(d)

Total Industrial Conglomerates

 

 

 

 

 

 

 

1,361,166

 

Machinery — 0.5%

 

 

 

 

 

 

 

 

 

Dematic SA, Senior Secured Notes

 

8.750%

 

5/1/16

 

1,200,000

 

1,152,000

(a)(d)

Lonking Holdings Ltd., Senior Notes

 

8.500%

 

6/3/16

 

1,410,000

 

1,346,550

(a)(d)

Total Machinery

 

 

 

 

 

 

 

2,498,550

 

Marine — 0.6%

 

 

 

 

 

 

 

 

 

Horizon Lines Inc., Senior Secured Notes

 

11.000%

 

10/15/16

 

520,000

 

520,000

(g)

Horizon Lines Inc., Senior Secured Notes

 

13.000%

 

10/15/16

 

680,000

 

680,000

(e)(g)

Navios Maritime Acquisition Corp., Senior Secured Notes

 

8.625%

 

11/1/17

 

170,000

 

142,588

(a)

Navios Maritime Acquisition Corp./Navios Acquisition Finance U.S. Inc., Senior Secured Notes

 

8.625%

 

11/1/17

 

1,410,000

 

1,182,637

 

Navios Maritime Holdings Inc./Navios Maritime Finance II U.S. Inc., Senior Notes

 

8.125%

 

2/15/19

 

430,000

 

352,600

(a)

Total Marine

 

 

 

 

 

 

 

2,877,825

 

Road & Rail — 1.2%

 

 

 

 

 

 

 

 

 

Florida East Coast Holdings Corp., Senior Notes

 

10.500%

 

8/1/17

 

1,495,437

 

1,436,402

(a)(e)

Florida East Coast Industries Inc., Senior Secured Notes

 

8.125%

 

2/1/17

 

940,000

 

940,000

(a)(d)

Kansas City Southern de Mexico, Senior Notes

 

12.500%

 

4/1/16

 

760,000

 

882,740

(d)

Kansas City Southern de Mexico, Senior Notes

 

8.000%

 

2/1/18

 

245,000

 

264,600

 

Kansas City Southern Railway, Senior Notes

 

8.000%

 

6/1/15

 

185,000

 

197,488

 

Quality Distribution LLC/QD Capital Corp., Secured Notes

 

9.875%

 

11/1/18

 

1,090,000

 

1,094,087

(d)

RailAmerica Inc., Senior Secured Notes

 

9.250%

 

7/1/17

 

1,014,000

 

1,100,190

(d)

Total Road & Rail

 

 

 

 

 

 

 

5,915,507

 

Trading Companies & Distributors — 0.4%

 

 

 

 

 

 

 

 

 

Ashtead Capital Inc., Notes

 

9.000%

 

8/15/16

 

595,000

 

606,900

(a)(d)

H&E Equipment Services Inc., Senior Notes

 

8.375%

 

7/15/16

 

1,590,000

 

1,586,025

(d)

Total Trading Companies & Distributors

 

 

 

 

 

 

 

2,192,925

 

Transportation — 0.9%

 

 

 

 

 

 

 

 

 

CMA CGM, Senior Notes

 

8.500%

 

4/15/17

 

1,000,000

 

460,000

(a)(d)

CMA CGM, Senior Notes

 

8.875%

 

4/15/19

 

1,500,000

EUR

975,025

(a)

Hapag-Lloyd AG, Senior Notes

 

9.750%

 

10/15/17

 

1,550,000

 

1,271,000

(a)(d)

Syncreon Global Ireland Ltd./Syncreon Global Finance US Inc., Senior Notes

 

9.500%

 

5/1/18

 

1,830,000

 

1,733,925

(a)(d)

Total Transportation

 

 

 

 

 

 

 

4,439,950

 

Transportation Infrastructure — 0.0%

 

 

 

 

 

 

 

 

 

Aguila 3 SA, Senior Secured Notes

 

7.875%

 

1/31/18

 

160,000

 

151,200

(a)

TOTAL INDUSTRIALS

 

 

 

 

 

 

 

45,880,746

 

INFORMATION TECHNOLOGY — 1.3%

 

 

 

 

 

 

 

 

 

IT Services — 0.4%

 

 

 

 

 

 

 

 

 

Ceridian Corp., Senior Notes

 

12.250%

 

11/15/15

 

553,800

 

515,034

(e)

First Data Corp., Senior Notes

 

10.550%

 

9/24/15

 

586,302

 

528,002

(e)

First Data Corp., Senior Notes

 

11.250%

 

3/31/16

 

800,000

 

676,000

 

First Data Corp., Senior Secured Notes

 

7.375%

 

6/15/19

 

70,000

 

66,150

(a)(d)

Sterling Merger Inc., Senior Notes

 

11.000%

 

10/1/19

 

160,000

 

157,000

(a)

Total IT Services

 

 

 

 

 

 

 

1,942,186

 

 

See Notes to Schedule of Investments.

 

7


 

Schedule of investments (unaudited) (cont’d)

August 31, 2011

 

WESTERN ASSET GLOBAL HIGH INCOME FUND INC.

 

SECURITY

 

RATE

 

MATURITY
DATE

 

FACE
AMOUNT

 

VALUE

 

Semiconductors & Semiconductor Equipment— 0.9%

 

 

 

 

 

 

 

CDW LLC/CDW Finance Corp., Senior Notes

 

11.000%

 

10/12/15

 

 

420,000

 

$

430,500

 

CDW LLC/CDW Finance Corp., Senior Notes

 

11.500%

 

10/12/15

 

350,000

 

358,750

(e)

Freescale Semiconductor Inc., Senior Notes

 

10.750%

 

8/1/20

 

188,000

 

197,870

 

Freescale Semiconductor Inc., Senior Secured Notes

 

9.250%

 

4/15/18

 

1,010,000

 

1,068,075

(a)(d)

Freescale Semiconductor Inc., Senior Subordinated Notes

 

10.125%

 

12/15/16

 

1,740,000

 

1,827,000

 

STATS ChipPAC Ltd., Senior Notes

 

7.500%

 

8/12/15

 

530,000

 

559,150

(a)

Total Semiconductors & Semiconductor Equipment

 

 

 

 

 

 

4,441,345

 

TOTAL INFORMATION TECHNOLOGY

 

 

 

 

 

 

 

6,383,531

 

MATERIALS — 9.6%

 

 

 

 

 

 

 

 

 

Chemicals — 1.0%

 

 

 

 

 

 

 

 

 

Braskem Finance Ltd., Senior Notes

 

7.000%

 

5/7/20

 

890,000

 

958,975

(a)

Ineos Finance PLC, Senior Secured Notes

 

9.000%

 

5/15/15

 

670,000

 

681,725

(a)

Kerling PLC, Senior Secured Notes

 

10.625%

 

2/1/17

 

792,000

EUR

1,041,004

(a)

LBI Escrow Corp., Senior Secured Notes

 

8.000%

 

11/1/17

 

670,000

 

745,375

(a)(d)

Styrolution GmbH, Senior Secured Notes

 

7.625%

 

5/15/16

 

1,000,000

EUR

1,213,843

(a)

Texas Petrochemical Corp. Group LLC, Senior Secured Notes

 

8.250%

 

10/1/17

 

450,000

 

462,375

(a)(d)

Total Chemicals

 

 

 

 

 

 

 

5,103,297

 

Construction Materials — 0.2%

 

 

 

 

 

 

 

 

 

HeidelbergCement AG, Senior Notes

 

8.500%

 

10/31/19

 

720,000

EUR

1,047,209

 

Containers & Packaging — 2.2%

 

 

 

 

 

 

 

 

 

Ardagh Packaging Finance PLC, Senior Notes

 

9.250%

 

10/15/20

 

1,700,000

EUR

2,158,163

(a)

Berry Plastics Corp., Secured Notes

 

9.750%

 

1/15/21

 

1,200,000

 

1,119,000

 

Longview Fibre Paper & Packaging Inc., Senior Secured Notes

 

8.000%

 

6/1/16

 

660,000

 

656,700

(a)(d)

Pretium Packaging LLC/Pretium Finance Inc., Senior Secured Notes

 

11.500%

 

4/1/16

 

1,210,000

 

1,194,875

(a)(d)

Reynolds Group Issuer Inc., Senior Notes

 

9.500%

 

6/15/17

 

2,000,000

EUR

2,298,402

(a)

Reynolds Group Issuer Inc./Reynolds Group Issuer LLC, Senior Notes

 

8.250%

 

2/15/21

 

1,180,000

 

1,000,050

(a)

Reynolds Group Issuer Inc./Reynolds Group Issuer LLC, Senior Secured Notes

 

7.875%

 

8/15/19

 

100,000

 

99,500

(a)

Suzano Trading Ltd., Senior Notes

 

5.875%

 

1/23/21

 

1,100,000

 

1,069,750

(a)

Viskase Cos. Inc., Senior Secured Notes

 

9.875%

 

1/15/18

 

1,330,000

 

1,349,950

(a)(d)

Total Containers & Packaging

 

 

 

 

 

 

 

10,946,390

 

Metals & Mining — 4.3%

 

 

 

 

 

 

 

 

 

Atkore International Inc., Senior Secured Notes

 

9.875%

 

1/1/18

 

490,000

 

478,975

(a)(d)

China Oriental Group Co., Ltd.

 

7.000%

 

11/17/17

 

1,060,000

 

959,300

(a)

CSN Resources SA, Senior Bonds

 

6.500%

 

7/21/20

 

452,000

 

481,945

(a)

CSN Resources SA, Senior Bonds

 

6.500%

 

7/21/20

 

450,000

 

479,813

(a)

Evraz Group SA, Notes

 

8.250%

 

11/10/15

 

230,000

 

243,800

(a)

Evraz Group SA, Notes

 

6.750%

 

4/27/18

 

2,440,000

 

2,372,900

(a)(d)

Evraz Group SA, Senior Notes

 

9.500%

 

4/24/18

 

940,000

 

1,044,096

(a)

FMG Resources (August 2006) Pty Ltd., Senior Notes

 

7.000%

 

11/1/15

 

200,000

 

200,500

(a)(d)

Freeport-McMoRan Copper & Gold Inc., Senior Notes

 

8.375%