<?xml version="1.0" ?>
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  <infoTable>
    <nameOfIssuer>MICRON TECHNOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>595112103</cusip>
    <value>4838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHA NATURAL RESOURCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02076X102</cusip>
    <value>74200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19835600</Sole>
      <Shared>0</Shared>
      <None>164400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APOLLO INVT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03761U106</cusip>
    <value>986</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>114500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BALTIC TRADING LIMITED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>Y0553W103</cusip>
    <value>5391</value>
    <shrsOrPrnAmt>
      <sshPrnamt>901501</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>850000</Sole>
      <Shared>0</Shared>
      <None>51501</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CALPINE CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>131347304</cusip>
    <value>357</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>15000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONSOL ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20854P109</cusip>
    <value>373</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ECHOSTAR CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>278768106</cusip>
    <value>265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENDEAVOUR INTL CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>29259G200</cusip>
    <value>6890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5028884</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4952185</Sole>
      <Shared>0</Shared>
      <None>76699</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENERGY XXI (BERMUDA) LTD</nameOfIssuer>
    <titleOfClass>USD UNRS SHS</titleOfClass>
    <cusip>G10082140</cusip>
    <value>5908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXTREME NETWORKS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30226D106</cusip>
    <value>3403</value>
    <shrsOrPrnAmt>
      <sshPrnamt>766500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>765211</Sole>
      <Shared>0</Shared>
      <None>1289</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIFTH STREET FINANCE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31678A103</cusip>
    <value>2584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>262862</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>262862</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL MTRS CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37045V100</cusip>
    <value>370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>10200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBALSTAR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>378973408</cusip>
    <value>138550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32600050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32500000</Sole>
      <Shared>0</Shared>
      <None>100050</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JETBLUE AIRWAYS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>477143101</cusip>
    <value>363</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>33500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LEVEL 3 COMMUNICATIONS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>52729N308</cusip>
    <value>90511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2061286</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2047534</Sole>
      <Shared>0</Shared>
      <None>13752</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICRON TECHNOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>595112103</cusip>
    <value>18641</value>
    <shrsOrPrnAmt>
      <sshPrnamt>565750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>550000</Sole>
      <Shared>0</Shared>
      <None>15750</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4950</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORTHERN DYNASTY MINERALS LT</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>66510M204</cusip>
    <value>1272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1520000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1469000</Sole>
      <Shared>0</Shared>
      <None>51000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PAN AMERICAN SILVER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>697900108</cusip>
    <value>278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>18125</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PARAGON SHIPPING INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>69913R408</cusip>
    <value>48</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PEABODY ENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>704549104</cusip>
    <value>138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8467</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RACKSPACE HOSTING INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>750086100</cusip>
    <value>2693</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RESOLUTE FST PRODS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76117W109</cusip>
    <value>211154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12583695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12545965</Sole>
      <Shared>0</Shared>
      <None>37730</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SANDRIDGE ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>80007P307</cusip>
    <value>296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>41400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SONDE RES CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>835426206</cusip>
    <value>701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2061146</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2023346</Sole>
      <Shared>0</Shared>
      <None>37800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TEEKAY CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>Y8564W103</cusip>
    <value>398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>6400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRANSOCEAN LTD</nameOfIssuer>
    <titleOfClass>REG SHS</titleOfClass>
    <cusip>H8817H100</cusip>
    <value>225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WALTER ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>93317Q105</cusip>
    <value>46</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8520</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALTRA INDL MOTION CORP</nameOfIssuer>
    <titleOfClass>NOTE 2.750% 3/0</titleOfClass>
    <cusip>02208RAE6</cusip>
    <value>12099</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8375000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8375000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APOLLO INVT CORP</nameOfIssuer>
    <titleOfClass>NOTE 5.750% 1/1</titleOfClass>
    <cusip>03761UAE6</cusip>
    <value>43187</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40742000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40742000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMAG PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>NOTE 2.500% 2/1</titleOfClass>
    <cusip>00163UAA4</cusip>
    <value>45209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42500000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHA NATURAL RESOURCES INC</nameOfIssuer>
    <titleOfClass>NOTE 3.750%12/1</titleOfClass>
    <cusip>02076XAE2</cusip>
    <value>12876</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14800000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHA NATURAL RESOURCES INC</nameOfIssuer>
    <titleOfClass>NOTE 4.875%12/1</titleOfClass>
    <cusip>02076XAF9</cusip>
    <value>3103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AEGEAN MARINE PETE NETWORK I</nameOfIssuer>
    <titleOfClass>NOTE 4.000%11/0</titleOfClass>
    <cusip>Y0020QAA9</cusip>
    <value>19533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19150000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19150000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMERICAN RLTY CAP PPTYS INC</nameOfIssuer>
    <titleOfClass>NOTE 3.000% 8/0</titleOfClass>
    <cusip>02917TAA2</cusip>
    <value>32409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31774000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31774000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHIQUITA BRANDS INTL INC</nameOfIssuer>
    <titleOfClass>NOTE 4.250% 8/1</titleOfClass>
    <cusip>170032AT3</cusip>
    <value>17440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17299000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17299000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BOTTOMLINE TECH DEL INC</nameOfIssuer>
    <titleOfClass>NOTE 1.500%12/0</titleOfClass>
    <cusip>101388AA4</cusip>
    <value>13388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11310000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11310000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FINISAR CORP</nameOfIssuer>
    <titleOfClass>NOTE 5.000%10/1</titleOfClass>
    <cusip>31787AAK7</cusip>
    <value>29681</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15915000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15915000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIFTH STR FIN CORP</nameOfIssuer>
    <titleOfClass>NOTE 5.375% 4/0</titleOfClass>
    <cusip>31679BAC4</cusip>
    <value>28698</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27106000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27106000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTERDIGITAL INC</nameOfIssuer>
    <titleOfClass>NOTE 2.500% 3/1</titleOfClass>
    <cusip>458660AB3</cusip>
    <value>28677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25909000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25909000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INFINERA CORPORATION</nameOfIssuer>
    <titleOfClass>DBCV 1.750% 6/0</titleOfClass>
    <cusip>45667GAB9</cusip>
    <value>49088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46200000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>46200000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INLAND REAL ESTATE CORP</nameOfIssuer>
    <titleOfClass>NOTE 5.000%11/1</titleOfClass>
    <cusip>457461AC5</cusip>
    <value>5506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JETBLUE AIRWAYS CORP</nameOfIssuer>
    <titleOfClass>DBCV 6.750%10/1</titleOfClass>
    <cusip>477143AG6</cusip>
    <value>52845</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22778000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22778000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LEAP WIRELESS INTL INC</nameOfIssuer>
    <titleOfClass>NOTE 4.500% 7/1</titleOfClass>
    <cusip>521863AL4</cusip>
    <value>951</value>
    <shrsOrPrnAmt>
      <sshPrnamt>950000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>950000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICRON TECHNOLOGY INC</nameOfIssuer>
    <titleOfClass>NOTE 1.625% 2/1</titleOfClass>
    <cusip>595112AU7</cusip>
    <value>75485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUANCE COMMUNICATIONS INC</nameOfIssuer>
    <titleOfClass>NOTE 2.750%11/0</titleOfClass>
    <cusip>67020YAF7</cusip>
    <value>16031</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15971000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15971000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUVASIVE INC</nameOfIssuer>
    <titleOfClass>NOTE 2.750% 7/0</titleOfClass>
    <cusip>670704AC9</cusip>
    <value>12581</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PHOTRONICS INC</nameOfIssuer>
    <titleOfClass>NOTE 3.250% 4/0</titleOfClass>
    <cusip>719405AH5</cusip>
    <value>29691</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27355000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27355000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PHOTRONICS INC</nameOfIssuer>
    <titleOfClass>NOTE 5.500%10/0</titleOfClass>
    <cusip>719405AF9</cusip>
    <value>14769</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8500000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSPECT CAPITAL CORPORATION</nameOfIssuer>
    <titleOfClass>NOTE 5.875% 1/1</titleOfClass>
    <cusip>74348TAM4</cusip>
    <value>12763</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12141000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12141000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROVI CORP</nameOfIssuer>
    <titleOfClass>NOTE 2.625% 2/1</titleOfClass>
    <cusip>779376AB8</cusip>
    <value>10673</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10528000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10528000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SHUTTERFLY INC</nameOfIssuer>
    <titleOfClass>NOTE 0.250% 5/1</titleOfClass>
    <cusip>82568PAB2</cusip>
    <value>17935</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17885000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17885000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPIRIT RLTY CAP INC NEW</nameOfIssuer>
    <titleOfClass>NOTE 2.875% 5/1</titleOfClass>
    <cusip>84860WAA0</cusip>
    <value>2008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPIRIT RLTY CAP INC NEW</nameOfIssuer>
    <titleOfClass>NOTE 3.75%  5/1</titleOfClass>
    <cusip>84860WAB8</cusip>
    <value>1509</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TIBCO SOFTWARE INC</nameOfIssuer>
    <titleOfClass>NOTE 2.250% 5/0</titleOfClass>
    <cusip>88632QAB9</cusip>
    <value>5409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5323000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5323000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TESLA MTRS INC</nameOfIssuer>
    <titleOfClass>NOTE 0.250% 3/0</titleOfClass>
    <cusip>88160RAB7</cusip>
    <value>8764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VECTOR GROUP LTD</nameOfIssuer>
    <titleOfClass>NOTE 1.750% 4/1</titleOfClass>
    <cusip>92240MBC1</cusip>
    <value>2694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VIPSHOP HLDGS LTD</nameOfIssuer>
    <titleOfClass>NOTE 1.500% 3/1</titleOfClass>
    <cusip>92763WAA1</cusip>
    <value>15094</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12800000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VOLCANO CORPORATION</nameOfIssuer>
    <titleOfClass>NOTE 2.875% 9/0</titleOfClass>
    <cusip>928645AA8</cusip>
    <value>7597</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7559000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7559000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WEBMD HEALTH CORP</nameOfIssuer>
    <titleOfClass>NOTE 2.500% 1/3</titleOfClass>
    <cusip>94770VAF9</cusip>
    <value>46447</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44078000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>44078000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WEBMD HEALTH CORP</nameOfIssuer>
    <titleOfClass>NOTE 2.250% 3/3</titleOfClass>
    <cusip>94770VAH5</cusip>
    <value>16841</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16350000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16350000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WRIGHT MED GROUP INC</nameOfIssuer>
    <titleOfClass>NOTE 2.625%12/0</titleOfClass>
    <cusip>98235TAA5</cusip>
    <value>515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>519000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>519000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IXIA</nameOfIssuer>
    <titleOfClass>NOTE 3.000%12/1</titleOfClass>
    <cusip>45071RAB5</cusip>
    <value>10499</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10434000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10434000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POWERSHARES QQQ TRUST</nameOfIssuer>
    <titleOfClass>UNIT SER 1</titleOfClass>
    <cusip>73935A104</cusip>
    <value>897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1150000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RESTORATION HARDWARE HLDGS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>761283100</cusip>
    <value>145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROYAL BK CDA MONTREAL QUE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>780087102</cusip>
    <value>280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>600000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SANDISK CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>80004C101</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
    <titleOfClass>TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VALE S A</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>91912E105</cusip>
    <value>573</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
</informationTable>
