队伍会有多长？

CompanyMerlinEntertainments Ricardo ChinchillaResearch Analyst+1-212-250-9980Richa Agarwal, CFAResearch AssociatedbDIGResearch data and analysis, click here. Appendix 1Important Disclosures*Other information available upon requestDeutsche Bank may have shown incomplete disclosure information in its High Yield industry reports until 19th March 2021.If you require any further information please contact Dvs.Support@db.com.Disclosure checklistInstitutionMerlin Entertainments Group U.S. Holdings Inc.MERLLN 5.750%Secured due 2026MERLLN 6.625% Sr Unsecured due 2027MERLLN7.375%Secured due2031Important Disclosures Reguired by U.S. RegulatorsDisclosures marked with an asterisk may also be required by at least one jurisdiction in addition to the United States. SeeImportant Disclosures Required by Non-Us Regulators and Explanatory Notes.1.Within the past year, Deutsche Bank and/or its affiliate(s) has managed or co-managed a public offering for thiscompany,forwhichitreceivedfees2.Deutsche Bank and/or its affiliate(s) may act as a market maker or liquidity providerin the financial instruments issuedbythiscompany7.Deutsche Bank and/or its affiliate(s) has received compensation from this company for the provision of investmentbankingorfinancialadvisoryserviceswithinthepastyear8.Deutsche Bank and/or its affiliate(s) expects to receive, or intends to seek, compensation for investment bankingservicesfromthiscompanyinthe nextthreemonths14.investmentbankingrelatedservices15.This company has been a client of Deutsche Bank Securities Inc. within the past year during which time it receivedinvestmentbankingservices.Important Disclosures Required by Non-U.S. RegulatorsDisclosures marked with an asterisk may also be required by at least one jurisdiction in addition to the United States. SeeImportant Disclosures Required by Non-Us Regulators and Explanatory Notes.1.company,forwhichitreceivedfees2.Deutsche Bank and/or its affiliate(s) may act as a market maker or liquidity provider in the financial instruments issuedbythiscompany.24.Deutsche Bank and/or its affiliate(s) is or has been over the previous 12 months party to an agreement with theprovisionof services setout inSectionsAand Bof AnnexIof Directive2014/65/EU.26.Within the preceding 12 months, Deutsche Bank and/or its affiliate(s) has received compensation for the provision ofinvestment banking services or is currently providing or has provided investment banking services to this company.Pricesare currentas of the end of the previoustrading session unlessotherwise indicated and are sourcedfromlocalexchanges via Reuters, Bloomberg and other vendors. Other information is sourced from Deutsche Bank, subject companies,For historical recommendations pertaining to a security mentioned in this report, please click hereDeutsche Bank Securities Inc. Disclosure1,2,7,8,14,15,24,261,2,7,8,14,15,24,261,2,7,8,14,15,24,26mberg and other vendPage 3 Analyst CertificationThe views expressed in this report accurately reflect the personal views of the undersigned lead analyst(s) about the subjectDeutsche Bank debt rating keyBuy: These bonds are expected to outperform other issues inthe sector/industry group over the next three to six-monthperiod.Hold: These bonds are fairly valued currently. If owned, noneedtosell,butweawaitevents/releases/conditionsthatwould make the bond attractive enough for us to upgrade. Inthe interim, the bond will likely perform as well as the averageissue in the sector/industry group.Sell: There exists a significant likelihood that these bonds willunderperform relative to other issues in their sector/industrygroup, at least over the next three months.Page 4 Companyratingdispersionandbankingrelationships55%OSEODE250%5905 I00501%0%50%BUYHOLDSELLcompanies coveredCos.w/ Banking RelationshipMIFIDIinvestment &Ancilary ServiceDBSI companies under coverageDeutsche Bank Securities Inc Additional InformationThe information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates (collectively 'DeutscheBank'). Though the information herein is believed to be reliable and has been obtained from public sources believed to bereport are provided for reader convenience only. Deutsche Bank neither endorses the content nor is responsible for theaccuracy or security controls of those websites.If you use the services of Deutsche Bank in connection with a purchase or sale of a security that is discussed in this report, oris included or discussed in another communication (oral or written) from a Deutsche Bank analyst, Deutsche Bank may act asprincipal for its own account or as agent for another person.Deutsche Bank may considerthis reportin decidingto tradeas principal. Itmay also engage in transactions,forits own accountincluding strategists, sales staff and other analysts, may take views that are inconsistent with those taken in this researchreport. Deutsche Bank issues a variety_of research products, including fundamental analysis, equity-linked analysis,qu