-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Fpxs2tiZU0IPgiAFe/7bylMaQFHEtS1OOfg+OyGYFfqyEKxZLMCE15k4VEcMh2Tb a42q8knc0i5RYK5UGDoulw== 0000935069-05-002433.txt : 20050829 0000935069-05-002433.hdr.sgml : 20050829 20050829164904 ACCESSION NUMBER: 0000935069-05-002433 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050630 FILED AS OF DATE: 20050829 DATE AS OF CHANGE: 20050829 EFFECTIVENESS DATE: 20050829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OPPENHEIMER INTERNATIONAL BOND FUND CENTRAL INDEX KEY: 0000939800 IRS NUMBER: 841308320 STATE OF INCORPORATION: MA FISCAL YEAR END: 0931 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-07255 FILM NUMBER: 051055993 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 BUSINESS PHONE: 3037683200 MAIL ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 N-Q 1 rq0880_15651nq.txt RQ0880_15651NQ.TXT 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 811-07255 Oppenheimer International Bond Fund ----------------------------------- (Exact name of registrant as specified in charter) 6803 South Tucson Way, Centennial, Colorado 80112-3924 ------------------------------------------------------ (Address of principal executive offices) (Zip code) Robert G. Zack, Esq. OppenheimerFunds, Inc. Two World Financial Center, New York, New York 10281-1008 --------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (303) 768-3200 -------------- Date of fiscal year end: September 30 ------------ Date of reporting period: June 30, 2005 ------------- ITEM 1. SCHEDULE OF INVESTMENTS. Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- U.S. GOVERNMENT OBLIGATIONS--3.9% - -------------------------------------------------------------------------------------------------------- Federal Home Loan Mortgage Corp. Nts., 3.75%, 7/15/09 [EUR] 16,635,000 $ 21,125,407 - -------------------------------------------------------------------------------------------------------- Federal National Mortgage Assn. Sr. Unsec. Nts., 2.125%, 10/9/07 [JPY] 640,000,000 6,041,655 - -------------------------------------------------------------------------------------------------------- U.S. Treasury Bills, 2.80%, 8/4/05 1 82,905,000 82,687,733 - -------------------------------------------------------------------------------------------------------- U.S. Treasury Nts., 3.75%, 3/31/07 2 10,000,000 10,018,360 ---------------- Total U.S. Government Obligations (Cost $118,974,589) 119,873,155 - -------------------------------------------------------------------------------------------------------- FOREIGN GOVERNMENT OBLIGATIONS--50.5% - -------------------------------------------------------------------------------------------------------- ARGENTINA--2.1% Argentina (Republic of) Bonds: 3.01%, 8/3/12 6 25,980,000 23,170,990 Series PRE8, 2%, 1/3/10 3,4,5 [ARP] 15,670,000 9,049,781 Series PR12, 2%, 1/3/16 3,4,5 [ARP] 18,075,972 9,494,387 - -------------------------------------------------------------------------------------------------------- Argentina (Republic of) Unsec. Unsub. Bonds, 5.83%, 12/31/33 5 [ARP] 32,536,351 11,588,521 - -------------------------------------------------------------------------------------------------------- Buenos Aires (Province of) Bonds, Bonos de Consolidacion de Deudas, Series PBA1, 4/1/07 3,4,5 [ARP] 1,120,225 474,729 - -------------------------------------------------------------------------------------------------------- Central Bank of Argentina Bonds, 2%, 2/4/18 5 [ARP] 25,072,320 11,210,335 ---------------- 64,988,743 - -------------------------------------------------------------------------------------------------------- AUSTRALIA--1.9% Queensland Treasury Corp. Unsec. Nts., Series 09G, 6%, 7/14/09 [AUD] 74,430,000 58,277,902 - -------------------------------------------------------------------------------------------------------- AUSTRIA--1.1% Austria (Republic of) Nts.: 3.80%, 10/20/13 7 [EUR] 6,845,000 8,774,314 5.50%, 10/20/07 7 [EUR] 2,440,000 3,177,052 Series 98-1, 5%, 1/15/08 [EUR] 9,795,000 12,690,448 - -------------------------------------------------------------------------------------------------------- Austria (Republic of) Sr. Unsec. Unsub. Nts., Series 1, 5%, 6,525,000 8,977,027 7/15/12 [EUR] ---------------- 33,618,841 - -------------------------------------------------------------------------------------------------------- BELGIUM--0.3% Belgium (Kingdom of) Bonds, Series 26, 6.25%, 3/28/07 [EUR] 6,850,000 8,882,602 - -------------------------------------------------------------------------------------------------------- BRAZIL--1.2% Brazil (Federal Republic of) Bonds: 8.75%, 2/4/25 12,360,000 12,792,600 8.875%, 10/14/19 3,830,000 4,069,375 Series 15 yr., 4.313%, 4/15/09 6 14,119 14,048 - -------------------------------------------------------------------------------------------------------- Brazil (Federal Republic of) Debt Capitalization Bonds, Series 20 yr., 8%, 4/15/14 11,476,383 11,756,120 - -------------------------------------------------------------------------------------------------------- Brazil (Federal Republic of) Unsec. Bonds, 4.75%, 4/10/07 5 [JPY] 500,000,000 4,643,405 - -------------------------------------------------------------------------------------------------------- Brazil (Federal Republic of) Unsec. Unsub. Bonds, 11%, 8/17/40 2,084,200 2,509,898 ---------------- 35,785,446 - -------------------------------------------------------------------------------------------------------- BULGARIA--0.1% Bulgaria (Republic of) Bonds: 8.25%, 1/15/15 1,505,000 1,898,181 8.25%, 1/15/15 7 1,505,000 1,898,181 ---------------- 3,796,362 - -------------------------------------------------------------------------------------------------------- CANADA--0.4% Canada (Government of) Bonds, 5%, 6/1/14 [CAD] 14,550,000 12,957,184
1 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- COLOMBIA--1.4% Colombia (Republic of) Bonds, 12%, 10/22/15 [COP] 55,239,000,000 $ 24,895,582 - -------------------------------------------------------------------------------------------------------- Colombia (Republic of) Nts., 11.75%, 3/1/10 [COP] 35,992,780,000 16,416,097 - -------------------------------------------------------------------------------------------------------- Colombia (Republic of) Unsec. Unsub. Nts., 11.375%, 1/31/08 [EUR] 1,845,000 2,648,026 ---------------- 43,959,705 - -------------------------------------------------------------------------------------------------------- DOMINICAN REPUBLIC--0.1% Dominican Republic Unsec. Unsub. Bonds: Series REGS, 9.04%, 1/23/18 1,520,000 1,594,100 Series REGS, 9.50%, 9/27/11 1,500,000 1,616,250 ---------------- 3,210,350 - -------------------------------------------------------------------------------------------------------- ECUADOR--0.0% Ecuador (Republic of) Unsec. Bonds, 8%, 8/15/30 6 1,463,000 1,235,321 - -------------------------------------------------------------------------------------------------------- EL SALVADOR--0.0% El Salvador (Republic of) Bonds, 7.625%, 9/21/34 7 1,185,000 1,285,725 - -------------------------------------------------------------------------------------------------------- FINLAND--1.6% Finland (Republic of) Bonds, 5.375%, 7/4/13 [EUR] 20,985,000 29,779,024 - -------------------------------------------------------------------------------------------------------- Finland (Republic of) Sr. Unsec. Unsub. Bonds: 2.75%, 7/4/06 [EUR] 3,470,000 4,231,146 5%, 7/4/07 [EUR] 12,415,000 15,894,502 ---------------- 49,904,672 - -------------------------------------------------------------------------------------------------------- FRANCE--1.5% France (Government of) Obligations Assimilables du Tresor Bonds: 4%, 10/25/13 [EUR] 13,960,000 18,116,882 5.50%, 10/25/07 [EUR] 12,375,000 16,127,605 5.50%, 10/25/10 [EUR] 3,080,000 4,262,517 - -------------------------------------------------------------------------------------------------------- France (Government of) Treasury Nts., 5 yr., 5%, 7/12/05 [EUR] 5,050,000 6,116,603 ---------------- 44,623,607 - -------------------------------------------------------------------------------------------------------- GERMANY--5.6% Germany (Republic of) Bonds: 5.25%, 1/4/11 [EUR] 23,640,000 32,465,449 5.375%, 1/4/10 [EUR] 38,715,000 52,599,814 Series 02, 5%, 7/4/12 [EUR] 4,200,000 5,775,419 Series 03, 3.75% 7/4/13 [EUR] 64,085,000 81,903,537 ---------------- 172,744,219 - -------------------------------------------------------------------------------------------------------- GREECE--1.0% Greece (Republic of) Bonds, 3.70%, 7/20/15 [EUR] 17,360,000 21,594,433 - -------------------------------------------------------------------------------------------------------- Greece (Republic of) Sr. Unsub. Bonds, 4.65%, 4/19/07 [EUR] 6,980,000 8,826,532 ---------------- 30,420,965 - -------------------------------------------------------------------------------------------------------- GUATEMALA--0.0% Guatemala (Republic of) Nts.: 10.25%, 11/8/11 525,000 635,250 10.25%, 11/8/11 7 160,000 193,600 ---------------- 828,850 - -------------------------------------------------------------------------------------------------------- HUNGARY--0.3% Hungary (Government of) Bonds, Series 05/I, 8.50%, 10/12/05 [HUF] 1,918,660,000 9,438,621
2 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- IRELAND--1.1% Ireland (Republic of) Treasury Bonds, 3.25%, 4/18/09 [EUR] 25,900,000 $ 32,382,679 - -------------------------------------------------------------------------------------------------------- ISRAEL--1.3% Israel (State of) Bonds, Series 2682, 7.50%, 3/31/14 [ILS] 167,800,000 40,183,660 - -------------------------------------------------------------------------------------------------------- ITALY--0.7% Italy (Republic of) Treasury Bonds: Buoni del Tesoro Poliennali, 4.50%, 3/1/07 [EUR] 14,745,000 18,566,416 Buoni del Tesoro Poliennali, 5%, 10/15/07 [EUR] 2,770,000 3,563,315 ---------------- 22,129,731 - -------------------------------------------------------------------------------------------------------- IVORY COAST--0.0% Ivory Coast (Government of) Past Due Interest Bonds, 3/29/18 3,4,5 [FRF] 16,007,500 524,189 - -------------------------------------------------------------------------------------------------------- JAPAN--2.1% Japan (Government of) Bonds, 5 yr., Series 14, 0.40%, 6/20/06 [JPY] 7,058,800,000 63,884,336 - -------------------------------------------------------------------------------------------------------- MALAYSIA--1.4% Johor Corp. Malaysia (State of) Bonds, Series P3, 1%, 7/31/12 6 [MYR] 107,980,000 30,049,697 - -------------------------------------------------------------------------------------------------------- Malaysia (Government of) Bonds, Series 2/05, 4.72%, 9/30/15 [MYR] 41,730,000 11,424,137 ---------------- 41,473,834 - -------------------------------------------------------------------------------------------------------- MEXICO--2.7% Mexican Williams Sr. Nts., 4.24%, 11/15/08 5,6 500,000 521,875 - -------------------------------------------------------------------------------------------------------- United Mexican States Bonds: Series MI10, 8%, 12/19/13 [MXN] 230,788,000 19,764,861 Series M20, 8%, 12/7/23 6 [MXN] 43,415,000 3,439,910 Series MI10, 9.50%, 12/18/14 6 [MXN] 243,434,400 22,777,209 Series M10, 10.50%, 7/14/11 [MXN] 212,100,000 21,284,402 - -------------------------------------------------------------------------------------------------------- United Mexican States Treasury Bills, Series BI, 10.77%, 10/13/05 8 [MXN] 130,860,000 11,855,650 - -------------------------------------------------------------------------------------------------------- United Mexican States Unsec. Unsub. Nts., Series 6BR, 6.75%, 6/6/06 [JPY] 205,000,000 1,955,919 ---------------- 81,599,826 - -------------------------------------------------------------------------------------------------------- NEW ZEALAND--0.5% New Zealand (Government of) Bonds, 7%, 7/15/09 [NZD] 19,630,000 14,235,599 - -------------------------------------------------------------------------------------------------------- NIGERIA--0.1% Central Bank of Nigeria Gtd. Bonds, Series WW, 6.25%, 11/15/20 1,375,000 1,364,688 - -------------------------------------------------------------------------------------------------------- Nigeria (Federal Republic of) Promissory Nts., Series RC, 5.092%, 1/5/10 575,655 483,287 ---------------- 1,847,975 - -------------------------------------------------------------------------------------------------------- PANAMA--0.4% Panama (Republic of) Bonds: 8.125%, 4/28/34 2,030,000 2,268,525 9.375%, 1/16/23 5,585,000 6,925,400 9.375%, 4/1/29 1,650,000 2,050,125 ---------------- 11,244,050 - -------------------------------------------------------------------------------------------------------- PERU--2.1% Peru (Republic of) Bonds: 8.375%, 5/3/16 1 1,380,000 1,555,950 9.91%, 5/5/15 [PEN] 116,525,000 39,531,111 Series 2, 9%, 1/31/12 [PEN] 18,850,000 6,228,293 Series 8-1, 12.25%, 8/10/11 [PEN] 18,633,000 7,077,505 - -------------------------------------------------------------------------------------------------------- Peru (Republic of) Sr. Nts., 4.53%, 2/28/16 8 5,396,155 3,470,753 - --------------------------------------------------------------------------------------------------------
3 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- Peru (Republic of) Unsec. Unsub. Bonds, 8.75%, 11/21/33 $ 6,720,000 $ 7,610,400 ---------------- 65,474,012 - -------------------------------------------------------------------------------------------------------- PHILIPPINES--1.2% Philippines (Republic of) Bonds: 9.50%, 2/2/30 1 19,390,000 19,835,970 10.625%, 3/16/25 3,740,000 4,202,825 Series 5-57, 11.50%, 1/27/10 [PHP] 507,800,000 9,349,217 Series 5-56, 12.375%, 10/28/09 [PHP] 149,350,000 2,796,182 ---------------- 36,184,194 - -------------------------------------------------------------------------------------------------------- POLAND--1.9% Poland (Republic of) Bonds: Series DS1013, 5%, 10/24/13 [PLZ] 55,940,000 16,818,766 Series WS0922, 5.75%, 9/23/22 [PLZ] 10,000,000 3,338,004 Series DS0509, 6%, 5/24/09 [PLZ] 126,205,000 39,583,723 ---------------- 59,740,493 - -------------------------------------------------------------------------------------------------------- PORTUGAL--2.1% Portugal (Republic of) Obrig Do Tes Medio Prazo Nts.: 3.25%, 7/15/08 [EUR] 8,160,000 10,145,441 4.875%, 8/17/07 [EUR] 9,710,000 12,422,629 - -------------------------------------------------------------------------------------------------------- Portugal (Republic of) Obrig Do Tes Medio Prazo Unsec. Unsub. Nts., 5.85%, 5/20/10 [EUR] 28,945,000 40,255,527 ---------------- 62,823,597 - -------------------------------------------------------------------------------------------------------- RUSSIA--1.8% Aries Vermoegensverwaltungs GmbH Unsub. Nts.: Series B, 7.75%, 10/25/09 7 [EUR] 2,500,000 3,522,158 Series C, 9.60%, 10/25/14 23,330,000 30,265,309 - -------------------------------------------------------------------------------------------------------- Ministry Finance of Russia Debs., Series VII, 3%, 5/14/11 6,620,000 5,820,403 - -------------------------------------------------------------------------------------------------------- Russian Federation Debs., Series V, 3%, 5/14/08 3,590,000 3,390,008 - -------------------------------------------------------------------------------------------------------- Russian Federation Unsec. Unsub. Bonds, 5%, 3/31/30 1,6,7 8,570,750 9,642,094 - -------------------------------------------------------------------------------------------------------- Russian Federation Unsub. Nts., 5%, 3/31/30 6 1,485,000 1,658,460 ---------------- 54,298,432 - -------------------------------------------------------------------------------------------------------- SOUTH AFRICA--1.7% South Africa (Republic of) Bonds: Series R157, 13.50%, 9/15/15 [ZAR] 76,130,000 15,803,439 Series R186, 10.50%, 12/21/26 [ZAR] 136,575,000 26,839,179 Series R203, 8.25%, 9/15/17 [ZAR] 30,810,000 4,714,429 Series R204, 8%, 12/21/18 [ZAR] 34,150,000 5,132,200 ---------------- 52,489,247 - -------------------------------------------------------------------------------------------------------- SPAIN--1.0% Spain (Kingdom of) Bonds: Bonos y Obligacion del Estado, 4.25%, 10/31/07 [EUR] 8,945,000 11,358,182 Bonos y Obligacion del Estado, 4.80%, 10/31/06 [EUR] 5,500,000 6,901,823 Bonos y Obligacion del Estado, 5.35%, 10/31/11 [EUR] 8,060,000 11,226,247 ---------------- 29,486,252 - -------------------------------------------------------------------------------------------------------- SWEDEN--2.6% Sweden (Kingdom of) Bonds, Series 1045, 5.25%, 3/15/11 [SEK] 545,010,000 79,710,290
4 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- THE NETHERLANDS--1.0% Netherlands (Kingdom of the) Bonds: 3.75%, 7/15/09 [EUR] 8,000,000 $ 10,186,606 4.25%, 7/15/13 [EUR] 9,660,000 12,761,034 5.50%, 1/15/28 [EUR] 5,300,000 8,225,730 ---------------- 31,173,370 - -------------------------------------------------------------------------------------------------------- TURKEY--0.8% Turkey (Republic of) Nts.: 7%, 6/5/20 7,750,000 7,614,375 7.25%, 3/15/15 1 6,680,000 6,913,800 - -------------------------------------------------------------------------------------------------------- Turkey (Republic of) Sr. Unsec. Unsub. Nts., 11.875%, 1/15/30 7,010,000 10,173,263 ---------------- 24,701,438 - -------------------------------------------------------------------------------------------------------- UNITED KINGDOM--4.7% United Kingdom Treasury Nts., 4%, 3/7/09 [GBP] 79,670,000 142,690,279 - -------------------------------------------------------------------------------------------------------- VENEZUELA--0.7% Venezuela (Republic of) Bonds: 7%, 12/1/18 195,000 174,306 9.25%, 9/15/27 5,880,000 6,179,880 - -------------------------------------------------------------------------------------------------------- Venezuela (Republic of) Nts.: 7%, 3/16/15 [EUR] 5,250,000 6,308,367 8.50%, 10/8/14 8,954,000 9,321,114 ---------------- 21,983,667 ---------------- Total Foreign Government Obligations (Cost $1,511,546,754) 1,546,220,265 - -------------------------------------------------------------------------------------------------------- LOAN PARTICIPATIONS--0.3% - -------------------------------------------------------------------------------------------------------- Algeria (Republic of) Loan Participation Nts.: 0.878%, 3/4/10 5,6 [JPY] 177,162,984 1,573,398 4.003%, 9/4/06 5,6 492,857 491,008 4.003%, 3/4/10 5,6 677,500 669,031 - -------------------------------------------------------------------------------------------------------- Deutsche Bank AG: Indonesia (Republic of) Rupiah Loan Participation Nts., 3.813%, 1/25/06 6 3,155,000 3,168,882 OAO Gazprom Loan Participation Nts., 8.27%, 8/4/05 5,6 3,005,000 3,117,087 ---------------- Total Loan Participations (Cost $8,700,359) 9,019,406 - -------------------------------------------------------------------------------------------------------- CORPORATE BONDS AND NOTES--7.9% - -------------------------------------------------------------------------------------------------------- Alrosa Finance SA: 8.875% Nts., 11/17/14 2,400,000 2,736,000 8.875% Nts., 11/17/14 7 4,675,000 5,306,125 - -------------------------------------------------------------------------------------------------------- Argentine Beverages Financial Trust, 7.375% Bonds, 3/22/12 7 1,445,000 1,477,513 - -------------------------------------------------------------------------------------------------------- CITGO Trustees Cayman Ltd., 8.50% Nts., 12/21/14 5 1,330,000 1,333,325 - -------------------------------------------------------------------------------------------------------- Dresdner Bank AG (Ukreximbank), 8.75% Bonds, 2/10/10 2,580,000 2,715,450 - -------------------------------------------------------------------------------------------------------- Eletropaulo Metropolitana SA, 19.125% Nts., 6/28/10 5 [BRR] 26,252,000 11,334,429 - -------------------------------------------------------------------------------------------------------- Gazprom International SA, 7.201% Sr. Unsec. Bonds, 2/1/20 7,850,000 8,486,400 - -------------------------------------------------------------------------------------------------------- General Electric Capital Corp., 1.40% Sr. Unsec. Unsub. Nts., 11/2/06 9 [JPY] 4,101,000,000 37,645,117 - -------------------------------------------------------------------------------------------------------- HSBC Bank plc: 9.75% Sr. Unsec. Nts., 7/8/09 8 30,220,000 19,491,900 11.60% Sr. Unsec. Nts., 1/12/10 8 42,800,000 24,032,200 12.28% Sr. Unsec. Nts., 3/9/09 8 30,220,000 18,358,650
5 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- Inter-American Development Bank: 1.90% Unsec. Bonds, 7/8/09 [JPY] 113,000,000 $ 1,089,577 3.95% Nts., 1/25/12 5 [COP] 16,902,000,000 7,410,389 6.26% Nts., 12/8/09 5,6 [BRR] 11,200,000 4,588,520 - -------------------------------------------------------------------------------------------------------- International Bank for Reconstruction and Development (The), 15% Nts., 1/7/10 5 [TRY] 3,000,000 2,429,538 - -------------------------------------------------------------------------------------------------------- Japan (Government of) Unsec. Unsub. Nts., 2.875%, 7/28/05 [JPY] 3,320,000,000 29,989,649 - -------------------------------------------------------------------------------------------------------- KfW International Finance, Inc., 2.05% Unsec. Unsub. Nts., 9/21/09 [JPY] 104,000,000 1,010,175 - -------------------------------------------------------------------------------------------------------- Kuznetski Capital SA, Bank of Moscow, 7.375% Nts., 11/26/10 5 5,560,000 5,671,200 - -------------------------------------------------------------------------------------------------------- Nak Naftogaz Ukraine, 8.125% Bonds, 9/30/09 3,900,000 4,107,090 - -------------------------------------------------------------------------------------------------------- Nordic Investment Bank, 12.50% Sr. Unsec. Nts., 2/15/09 5 [TRY] 5,000,000 3,720,406 - -------------------------------------------------------------------------------------------------------- Ongko International Finance Co. BV, 10.50% Sec. Nts., 3/29/10 3,4,5 550,000 -- - -------------------------------------------------------------------------------------------------------- Pemex Project Funding Master Trust, 9.125% Unsec. Unsub. Nts., 10/13/10 1 4,570,000 5,362,895 - -------------------------------------------------------------------------------------------------------- Pfizer, Inc., 0.80% Unsec. Nts., Series INTL, 3/18/08 [JPY] 1,980,000,000 18,086,178 - -------------------------------------------------------------------------------------------------------- Tengizchevroil LLP, 6.124% Nts., 11/15/14 1,7 5,840,000 6,000,600 - -------------------------------------------------------------------------------------------------------- Titan Petrochemicals Group Ltd., 8.50% Sr. Unsec. Nts., 3/18/12 7 2,381,000 2,178,615 - -------------------------------------------------------------------------------------------------------- UBS Luxembourg SA, 6.23% Sub. Nts., 2/11/15 6 8,020,000 8,150,686 - -------------------------------------------------------------------------------------------------------- VTB Capital SA, 6.25% Bonds, 7/2/35 5 9,490,000 9,584,900 ---------------- Total Corporate Bonds and Notes (Cost $247,440,099) 242,297,527 SHARES - -------------------------------------------------------------------------------------------------------- COMMON STOCKS--1.9% - -------------------------------------------------------------------------------------------------------- Arcelor 58,230 1,136,446 - -------------------------------------------------------------------------------------------------------- Arriva plc 120,000 1,171,770 - -------------------------------------------------------------------------------------------------------- Asahi Glass Co. Ltd. 107,000 1,121,021 - -------------------------------------------------------------------------------------------------------- Axa SA 47,590 1,183,542 - -------------------------------------------------------------------------------------------------------- BASF AG 17,457 1,157,055 - -------------------------------------------------------------------------------------------------------- BNP Paribas SA 17,250 1,179,371 - -------------------------------------------------------------------------------------------------------- British American Tobacco plc 61,150 1,178,890 - -------------------------------------------------------------------------------------------------------- Capcom Co. Ltd. 122,500 1,158,602 - -------------------------------------------------------------------------------------------------------- Continental AG 16,351 1,175,656 - -------------------------------------------------------------------------------------------------------- DaimlerChrysler AG 28,351 1,149,001 - -------------------------------------------------------------------------------------------------------- Deutsche Telekom AG 62,428 1,155,878 - -------------------------------------------------------------------------------------------------------- Douglas Holding AG 34,179 1,238,789 - -------------------------------------------------------------------------------------------------------- E.ON AG 13,352 1,185,397 - -------------------------------------------------------------------------------------------------------- Friends Provident plc 365,840 1,192,964 - -------------------------------------------------------------------------------------------------------- Ishikawajima-Harima Heavy Industries Co. Ltd. 4 818,000 1,181,662 - -------------------------------------------------------------------------------------------------------- Japan Real Estate Investment Corp. 143 1,214,552 - -------------------------------------------------------------------------------------------------------- Japan Retail Fund Investment Corp. 141 1,209,007 - -------------------------------------------------------------------------------------------------------- Joyo Bank Ltd. (The) 228,000 1,114,201 - -------------------------------------------------------------------------------------------------------- Kelda Group plc 99,130 1,240,612 - -------------------------------------------------------------------------------------------------------- Klepierre 12,321 1,175,679 - -------------------------------------------------------------------------------------------------------- Komori Corp. 77,000 1,164,268 - -------------------------------------------------------------------------------------------------------- Kubota Corp. 205,000 1,118,958 - -------------------------------------------------------------------------------------------------------- Kyushu Electric Power Co. 55,500 1,205,978 - -------------------------------------------------------------------------------------------------------- Lloyds TSB Group plc 140,921 1,194,267 - -------------------------------------------------------------------------------------------------------- MAN AG 25,756 1,067,744 - -------------------------------------------------------------------------------------------------------- NSK Ltd. 240,000 1,231,269 - --------------------------------------------------------------------------------------------------------
6 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
SHARES VALUE - ---------------------------------------------------------------------------------------------------------------------- OKI Electric Industry Co. 4 335,000 $ 1,174,149 - ---------------------------------------------------------------------------------------------------------------------- Peninsular & Oriental Steam Navigation Co. 205,760 1,169,573 - ---------------------------------------------------------------------------------------------------------------------- Persimmon plc 85,400 1,195,016 - ---------------------------------------------------------------------------------------------------------------------- Pilkington plc 551,520 1,179,246 - ---------------------------------------------------------------------------------------------------------------------- RWE AG 18,967 1,219,514 - ---------------------------------------------------------------------------------------------------------------------- Schroders plc 82,370 1,117,197 - ---------------------------------------------------------------------------------------------------------------------- Scottish & Southern Energy plc 65,040 1,176,009 - ---------------------------------------------------------------------------------------------------------------------- ScottishPower plc 137,730 1,220,185 - ---------------------------------------------------------------------------------------------------------------------- Severn Trent plc 63,110 1,149,963 - ---------------------------------------------------------------------------------------------------------------------- Societe Generale, Cl. A 11,805 1,195,773 - ---------------------------------------------------------------------------------------------------------------------- Suez SA 43,144 1,166,896 - ---------------------------------------------------------------------------------------------------------------------- Sumitomo Metal Industries 4 691,000 1,170,453 - ---------------------------------------------------------------------------------------------------------------------- T&D Holdings, Inc. 23,900 1,117,951 - ---------------------------------------------------------------------------------------------------------------------- Tate & Lyle plc 134,820 1,152,225 - ---------------------------------------------------------------------------------------------------------------------- Taylor Woodrow plc 206,600 1,246,083 - ---------------------------------------------------------------------------------------------------------------------- ThyssenKrupp AG 63,054 1,092,904 - ---------------------------------------------------------------------------------------------------------------------- Tokyo Electric Power Corp. 4 49,500 1,180,484 - ---------------------------------------------------------------------------------------------------------------------- TonenGeneral Sekiyu K.K. 109,000 1,179,335 - ---------------------------------------------------------------------------------------------------------------------- TUI AG 46,713 1,153,433 - ---------------------------------------------------------------------------------------------------------------------- Unibail 9,110 1,169,701 - ---------------------------------------------------------------------------------------------------------------------- United Utilities plc 94,160 1,113,461 - ---------------------------------------------------------------------------------------------------------------------- Valeo SA 27,030 1,209,798 - ---------------------------------------------------------------------------------------------------------------------- Veolia Environnement SA 30,756 1,151,394 - ---------------------------------------------------------------------------------------------------------------------- Vinci SA 15,490 1,289,677 ---------------- Total Common Stocks (Cost $57,427,867) 58,692,999 UNITS - ---------------------------------------------------------------------------------------------------------------------- RIGHTS, WARRANTS AND CERTIFICATES--0.0% ICG Communications, Inc. Wts., Exp. 9/15/05 4,5 495 -- - ---------------------------------------------------------------------------------------------------------------------- Loral Space & Communications Ltd. Wts., Exp. 1/15/07 4,5 50 -- - ---------------------------------------------------------------------------------------------------------------------- Venezuela (Republic of) Oil Linked Payment Obligation Wts., Exp. 4/15/20 4,5 500 12,000 ---------------- Total Rights, Warrants and Certificates (Cost $481) 12,000 PRINCIPAL AMOUNT - ---------------------------------------------------------------------------------------------------------------------- STRUCTURED NOTES--27.4% - ---------------------------------------------------------------------------------------------------------------------- Citigroup Global Markets Holdings, Inc.: Brazil (Federal Republic of) Credit Linked Nts., 17.37%, 7/3/07 [BRR] $ 55,270,000 17,205,822 Brazil (Federal Republic of) Unsec. Credit Linked Nts., 10%, 1/5/10 [BRR] 38,356,000 14,190,158 Brazil (Federal Republic of) Unsec. Credit Linked Nts., 10%, 1/5/10 [BRR] 59,878,000 22,152,422 Brazil (Federal Republic of) Unsec. Credit Linked Nts., 10%, 1/5/10 [BRR] 100,000,000 36,995,929 Brazil (Federal Republic of) Unsec. Credit Linked Nts., 18.41%, 10/4/05 [BRR] 34,700,000 14,198,672 Brazil (Federal Republic of) Unsec. Credit Linked Nts., 18.80%, 1/3/08 [BRR] 24,719,335 7,160,609 Brazil (Federal Republic of) Unsec. Credit Linked Nts., 19.85%, 1/2/09 [BRR] 28,074,132 7,051,077 Brazil (Federal Republic of) Unsec. Credit Linked Nts., 20.40%, 1/5/10 [BRR] 32,035,902 7,023,736 Colombia (Republic of) Credit Linked Nts., Series II, 15%, 4/27/12 [COP] 6,942,469,928 3,666,023 Colombia (Republic of) Unsec. Credit Linked Nts., 15%, 4/27/12 [COP] 31,110,000,000 16,427,866 Colombia (Republic of) Unsec. Credit Linked Nts., 15%, 4/27/12 [COP] 12,430,000,000 6,563,753 Colombia (Republic of) Unsec. Credit Linked Nts., 15%, 4/27/12 [COP] 11,705,100,000 6,180,965
7 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- Colombia (Republic of) Credit Linked Nts., Series III, 13.50%, 9/12/14 10 [COP] 21,000,000,000 $ 11,263,157 Colombia (Republic of) Credit Linked Nts., Series IV, 13.50, 9/12/14 10 [COP] 7,015,000,000 3,762,431 Dominican Republic Credit Linked Nts., 15.93%, 5/2/06 [DOP] 305,780,000 9,554,142 Dominican Republic Credit Linked Nts., 19.69%, 3/31/06 8 [DOP] 249,890,000 7,907,983 Dominican Republic Credit Linked Nts., 22.97%, 3/10/06 [DOP] 319,516,460 10,208,974 Dominican Republic Treasury Bills Unsec. Credit Linked Nts., 16.50%, 4/24/06 8 [DOP] 102,260,000 3,205,445 Dominican Republic Unsec. Credit Linked Nts., 14.86%, 5/15/06 [DOP] 165,940,000 5,151,340 Dominican Republic Unsec. Credit Linked Nts., 23.60%, 3/3/06 [DOP] 493,299,200 15,811,327 Egypt (The Arab Republic of) Unsec. Credit Linked Nts., 8%, 10/28/05 [EGP] 50,120,000 8,427,431 Egypt (The Arab Republic of) Unsec. Credit Linked Nts., 8.407%, 2/9/06 [EGP] 75,466,000 12,380,464 Egypt (The Arab Republic of) Unsec. Credit Linked Nts., 8.75%, 8/25/05 [EGP] 30,580,000 5,218,194 Egypt (The Arab Republic of) Unsec. Credit Linked Nts., 8.90%, 1/12/06 [EGP] 57,210,000 9,448,938 Egypt (The Arab Republic of) Unsec. Credit Linked Nts., 8.90%, 12/29/05 [EGP] 17,390,000 2,881,244 Indonesia (Republic of) Recapitalization Unsec. Credit Linked Nts., 13.15%, 3/17/10 9,523,810 8,892,915 OAO Gazprom Russian Local Market Unsec. Credit Linked Nts., 15.208%, 11/8/05 4,406,270 4,929,327 Ukraine Hryvnia Unsec. Credit Linked Nts., 11.94%, 1/4/10 [UAH] 13,799,000 3,266,805 - -------------------------------------------------------------------------------------------------------- Credit Suisse First Boston Corp. (Cayman), Turkey (Republic of) Credit Linked Nts., Series EMG 7, 15%, 2/10/10 [TRY] 37,857,000 30,530,298 - -------------------------------------------------------------------------------------------------------- Credit Suisse First Boston International: Lukoil Credit Linked Nts., Series Fbi 105, 7.25%, 11/17/09 [RUR] 321,528,000 11,324,232 Moscow (City of) Credit Linked Nts., Series Fbi 98, 11%, 4/23/09 [RUR] 280,840,000 10,796,008 Moscow (City of) Credit Linked Nts., Series Fbi 101, 10%, 12/31/10 [RUR] 277,800,000 10,775,787 OAO Gazprom Credit Linked Nts., 8.11%, 1/21/07 [RUR] 289,282,000 10,649,781 South African Rand Interest Bearing Linked Nts., Series FBi 43, 2.425%, 5/23/22 2,100,000 2,045,190 Ukraine (Republic of) Credit Linked Nts., Series EMG 13, 11.94%, 12/30/09 [UAH] 30,400,000 7,194,657 - -------------------------------------------------------------------------------------------------------- Credit Suisse First Boston, Inc.: (Nassau Branch), Turkey (Republic of) Credit Linked Nts., 20%, 10/18/07 4,238,000 4,715,241 (Nassau Branch), Turkey (Republic of) Credit Linked Nts., Series EM 868, 27.50%, 8/25/05 4,070,000 3,987,705 (Nassau Branch), Turkey (Republic of) Credit Linked Nts., Series EM 872, 22.88%, 10/20/05 6 19,769,000 21,269,998 (Nassau Branch), Turkey (Republic of) Credit Linked Nts., Series EM 880, 20%, 10/18/07 12,320,000 15,174,298 (Nassau Branch), Turkey (Republic of) Credit Linked Nts., Series EMG 4, 18.70%, 7/6/06 [TRY] 24,930,576 16,086,920 (Nassau Branch), Turkey (Republic of) Credit Linked Nts., Series EMG 19, 18%, 7/5/06 [TRY] 20,350,000 13,131,218 (Nassau Branch), Turkey (Republic of) Credit Linked Nts., Series NAS 316, 18.641%, 2/23/06 7,266,000 6,745,609 (Nassau Branch), Ukraine (Republic of) Credit Linked Nts., Series EMG 11, 11.94%, 12/30/09 [UAH] 9,163,000 2,168,574 (Nassau Branch), Ukraine (Republic of) Credit Linked Nts., Series NPC 12, 11.94%, 12/30/09 [UAH] 65,490,000 15,499,278
8 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- Deutsche Bank AG: Brazil Real Credit Linked Nts., 9.638%, 3/3/10 [BRR] 61,128,560 $ 15,128,238 Egypt (The Arab Republic of) Treasury Bills Total Return Linked Nts., 9.85%, 3/9/06 [EGP] 36,390,000 5,882,107 European Investment Bank, Russian Federation Credit Linked Nts., 6.232%, 1/19/10 8,475,000 6,640,163 Indonesia (Republic of) Credit Linked Nts., 9.50%, 6/22/15 10,300,162 9,176,414 Indonesia (Republic of) Credit Linked Nts., 14.25%, 6/22/13 5 11,285,000 13,044,332 Indonesia (Republic of) Credit Linked Nts., Series II, 14.25%, 6/22/13 5 11,282,000 13,040,864 Indonesia (Republic of) Credit Linked Nts., Series III, 14.25%, 6/15/13 12,412,800 14,347,956 Moscow (City of) Credit Linked Nts., 10%, 3/30/10 [RUR] 304,373,000 11,333,987 Nigeria (Federal Republic of) Treasury Bill Total Return Linked Nts., 13%, 8/17/05 5 [NGN] 858,100,000 6,084,651 OAO Gazprom I Credit Nts., 7.339%, 10/20/07 1,435,000 1,549,829 OAO Gazprom II Credit Nts., 7.089%, 4/20/07 1,435,000 1,526,484 Philippines (Republic of) Credit Linked Nts., 12%, 1/20/09 5 [PHP] 319,400,000 5,970,312 Philippines (Republic of) Credit Linked Nts., 12.375%, 11/1/09 5 [PHP] 596,990,000 11,231,624 Philippines (Republic of) Credit Linked Nts., 12.375%, 3/1/15 5 [PHP] 109,790,000 2,034,180 Romania (The State of) 3 yr. Linked Nts., 12.25%, 10/15/07 [ROL] 227,400,000,000 8,858,261 Romania (The State of) 3 yr. Linked Nts., 12.89%, 9/24/07 [ROL] 56,400,000,000 2,240,226 Romania (The State of) 3 yr. Linked Nts., 12.89%, 9/24/07 [ROL] 33,200,000,000 1,318,715 Romania (The State of) 3 yr. Linked Nts., 12.89%, 9/24/07 [ROL] 100,000,000,000 3,972,032 Romania (The State of) Credit Linked Nts., 11.49%, 12/7/06 [ROL] 91,186,500,000 3,355,808 Russian Federation Credit Linked Nts., 8.33%, 12/2/09 [RUR] 233,573,000 8,299,470 Ukraine (Republic of) Credit Linked Nts., 7.69%, 8/5/11 7,740,000 8,574,372 Ukraine (Republic of) Credit Linked Nts., 9.60%, 7/1/09 5 [UAH] 13,256,000 3,105,540 Ukraine (Republic of) Credit Linked Nts., 10.208%, 7/1/09 5 [UAH] 46,272,000 10,840,341 Ukraine (Republic of) Credit Linked Nts., 11.70%, 5/31/06 [UAH] 20,689,000 4,373,479 Ukraine (Republic of) Credit Linked Nts., 11.94%, 12/30/09 [UAH] 3,228,000 741,233 Ukraine (Republic of) Credit Linked Nts., 11.94%, 12/30/09 [UAH] 11,438,000 2,626,461 Videocon International Ltd. Credit Linked Nts., 5.34%, 12/29/09 5 7,300,000 7,292,700 - -------------------------------------------------------------------------------------------------------- ING Bank NV, Ukraine (Republic of) Credit Linked Nts., Series 725, 11.89%, 12/30/09 5 [UAH] 64,285,000 15,157,726 - -------------------------------------------------------------------------------------------------------- JPMorgan Chase Bank: Brazil (Federal Republic of) Credit Linked Nts., 12.08%, 1/2/15 8 [BRR] 51,226,300 6,558,712 Brazil (Federal Republic of) Credit Linked Nts., 12.68%, 6/1/13 8 [BRR] 75,340,000 11,397,229 Brazil (Federal Republic of) Credit Linked Nts., 13.85%, 4/1/10 8 [BRR] 129,150,391 28,157,387 Brazil (Federal Republic of) Credit Linked Nts., 15.33%, 1/2/15 8 [BRR] 138,200,796 17,694,410 Brazil (Federal Republic of) Credit Linked Nts., Series II, 13.55%, 1/2/15 8 [BRR] 114,770,000 14,694,470 Swaziland (Kingdom of) Credit Linked Nts., 7.25%, 6/20/10 5 3,850,000 3,878,163 - -------------------------------------------------------------------------------------------------------- Lehman Brothers International: Romania (The State of) Treasury Bills Total Return Linked Nts., 7.90%, 2/8/10 [ROL] 107,264,000,000 3,800,946 Turkey (Republic of) Treasury Bills Total Return Linked Nts., 20%, 10/17/07 13,040,000 15,889,240 - -------------------------------------------------------------------------------------------------------- Lehman Brothers Special Financing, Inc.: Romania (The State of) Treasury Bills Total Return Linked Nts., 6.50%, 3/8/10 [ROL] 309,041,000,000 10,287,027 Romania (The State of) Treasury Bills Total Return Linked Nts., 6.75%, 3/10/08 [ROL] 366,500,000,000 12,259,781
9 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- Romania (The State of) Treasury Bills Total Return Linked Nts., 7.25%, 4/18/10 [ROL] 31,050,000,000 $ 1,057,587 Romania (The State of) Treasury Bills Total Return Linked Nts., 7.50%, 3/5/07 [ROL] 51,550,000,000 1,758,134 Romania (The State of) Treasury Bills Total Return Linked Nts., 7.75%, 4/18/08 [ROL] 31,010,000,000 1,057,207 Romania (The State of) Treasury Bills Total Return Linked Nts., 7.75%, 4/18/08 [ROL] 74,530,000,000 2,540,911 Romania (The State of) Treasury Bills Total Return Linked Nts., 7.90%, 2/11/08 [ROL] 248,955,000,000 8,641,745 - -------------------------------------------------------------------------------------------------------- Morgan Stanley Capital Services, Inc.: Brazil Sr. Sub. Linked Nts., 15.45%, 1/2/14 [BRR] 40,700,000 17,554,982 Venezuela (Republic of) Credit Linked Nts., 7.382%, 5/20/10 3,850,000 3,955,875 - -------------------------------------------------------------------------------------------------------- UBS AG: Israel (State of) Credit Linked Nts., 7.50%, 4/5/14 [ILS] 56,205,300 13,582,008 OAO Gazprom III Credit Nts., 5.928%, 7/5/06 3,590,000 3,782,825 ---------------- Total Structured Notes (Cost $800,999,974) 839,518,087 DATE STRIKE CONTRACTS - -------------------------------------------------------------------------------------------------------- OPTIONS PURCHASED--0.0% - -------------------------------------------------------------------------------------------------------- Israeli Shekel Call 4 9/27/05 4.46ILS 166,400,000 81,869 - -------------------------------------------------------------------------------------------------------- Mexican Neuvo Peso Call 4 9/26/05 10.70MXN 276,900,000 114,083 ---------------- Total Options Purchased (Cost $285,193) 195,952 - -------------------------------------------------------------------------------------------------------- SWAPTIONS PURCHASED--0.0% - -------------------------------------------------------------------------------------------------------- Brazilian Real Call 4,5 10/3/05 16.50BRR 55,510,000 214,095 - -------------------------------------------------------------------------------------------------------- Mexican Neuvo Peso Call 4 8/19/05 10.07MXN 274,150,000 391,039 - -------------------------------------------------------------------------------------------------------- Mexican Neuvo Peso Call 4 9/1/05 10.35MXN 54,920,000 122,643 ---------------- Total Swaptions Purchased (Cost $612,262) 727,777 PRINCIPAL AMOUNT - -------------------------------------------------------------------------------------------------------- MONEY MARKET DEPOSIT--0.3% - -------------------------------------------------------------------------------------------------------- JPMorgan Chase, Nassau Branch, 2.716%, 7/1/05 (Cost $6,879,802) $ 6,879,802 6,879,802 - -------------------------------------------------------------------------------------------------------- JOINT REPURCHASE AGREEMENTS--4.1% - -------------------------------------------------------------------------------------------------------- Undivided interest of 10.15% in joint repurchase agreement (Principal Amount/Value $1,234,399,000, with a maturity value of $1,234,508,724) with UBS Warburg LLC, 3.20%, dated 6/30/05, to be repurchased at $125,251,132 on 7/1/05, collateralized by Federal Home Loan Mortgage Corp., 5.50%, 2/1/35, with a value of $1,260,871,334 (Cost $125,240,000) 125,240,000 125,240,000 - -------------------------------------------------------------------------------------------------------- Total Investments, at Value (excluding Investments Purchased with Cash Collateral from Securities Loaned) (Cost $2,878,107,380) 2,948,676,970 - -------------------------------------------------------------------------------------------------------- INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED--1.0% - -------------------------------------------------------------------------------------------------------- ASSET-BACKED FLOATING NOTE--0.1% Whitehawk CDO Funding Corp., 3.48%, 9/15/05 11 2,000,000 2,000,000
10 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------- JOINT REPURCHASE AGREEMENTS--0.9% Undivided interest of 0.33% in joint repurchase agreement (Principal Amount/Value $4,000,000,000, with a maturity value of $4,000,386,667) with Nomura Securities, 3.48%, dated 6/30/05, to be repurchased at $13,095,209 on 7/1/05, collateralized by U.S. Agency Mortgages, 0.00%--5.959%, 1/15/18--4/1/42, with a value of $4,160,000,001 11 $ 13,093,943 $ 13,093,943 - -------------------------------------------------------------------------------------------------------- Undivided interest of 0.38% in joint repurchase agreement (Principal Amount/Value $4,000,000,000, with a maturity value of $4,000,385,278) with Nomura Securities, 3.4675%, dated 6/30/05, to be repurchased at $15,001,445 on 7/1/05, collateralized by U.S. Agency Mortgages, 0.00%--5.959%, 1/15/18--4/1/42, with a value of $4,160,000,001 11 15,000,000 15,000,000 ---------------- 28,093,943 ---------------- Total Investments Purchased with Cash Collateral from Securities Loaned (Cost $30,093,943) 30,093,943 - -------------------------------------------------------------------------------------------------------- TOTAL INVESTMENTS, AT VALUE (COST $2,908,201,323) 97.3% 2,978,770,913 - -------------------------------------------------------------------------------------------------------- OTHER ASSETS NET OF LIABILITIES 2.7 82,794,640 ----------------------------------- NET ASSETS 100.0% $ 3,061,565,553 ===================================
FOOTNOTES TO STATEMENT OF INVESTMENTS Principal amount is reported in U.S. Dollars, except for those denoted in the following currencies: ARP Argentine Peso AUD Australian Dollar BRR Brazilian Real CAD Canadian Dollar COP Colombian Peso DOP Dominican Republic Peso EGP Egyptian Pounds EUR Euro FRF French Franc GBP British Pound Sterling HUF Hungarian Forint ILS Israeli Shekel JPY Japanese Yen MXN Mexican Nuevo Peso MYR Malaysian Ringgit NGN Nigeria Naira NZD New Zealand Dollar PEN Peruvian New Sol PHP Philippines Peso PLZ Polish Zloty ROL Romanian Leu RUR Russian Ruble SEK Swedish Krona TRY New Turkish Lira UAH Ukraine Hryvnia ZAR South African Rand 1. Partial or fully-loaned security-- See accompanying Notes to Quarterly Statement of Investments. 2. All or a portion of the security is held in collateralized accounts to cover initial margin requirements on open futures sales contracts. The aggregate market value of such securities is $10,018,360. See accompanying Notes to Quarterly Statement of Investments. 3. Issue is in default. See accompanying Notes to Quarterly Statement of Investments. 11 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- 4. Non-income producing security. 5. Illiquid or restricted security. The aggregate value of illiquid or restricted securities as of June 30, 2005 was $191,336,981, which represents 6.25% of the Fund's net assets, none of which is restricted. In addition, the Fund has restricted currency of $924,313, which represents 0.03% of the Fund's net assets. See accompanying Notes to Quarterly Statement of Investments. 6. Represents the current interest rate for a variable or increasing rate security. 7. Represents securities sold under Rule 144A, which are exempt from registration under the Securities Act of 1933, as amended. These securities have been determined to be liquid under guidelines established by the Board of Trustees. These securities amount to $43,455,977 or 1.42% of the Fund's net assets as of June 30, 2005. 8. Zero coupon bond reflects effective yield on the date of purchase. 9. A sufficient amount of securities has been designated to cover outstanding foreign currency contracts. See accompanying Notes to Quarterly Statement of Investments. 10. When-issued security or forward commitment to be delivered and settled after June 30, 2005. See accompanying Notes to Quarterly Statement of Investments. 11. The security has been segregated to satisfy the forward commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See accompanying Notes to Quarterly Statement of Investments. Distribution of investments representing geographic holdings, as a percentage of total investments at value, is as follows: GEOGRAPHIC HOLDINGS VALUE PERCENT - ------------------------------------------------------------------------------- United States $339,024,322 11.4% Brazil 284,497,823 9.6 Turkey 214,114,715 7.2 Germany 184,339,590 6.2 Russia 178,958,723 6.0 United Kingdom 160,387,740 5.4 Japan 111,415,875 3.7 Colombia 91,823,900 3.1 Mexico 87,476,403 2.9 Ukraine 80,371,006 2.7 Sweden 79,710,290 2.7 Argentina 66,466,256 2.2 Peru 65,474,012 2.2 Portugal 62,823,597 2.1 Indonesia 61,671,363 2.1 Romania 61,148,380 2.1 Poland 59,740,493 2.0 Australia 58,277,902 2.0 Philippines 55,420,310 1.9 France 55,345,438 1.9 Dominican Republic 55,049,561 1.9 South Africa 54,534,437 1.8 Israel 53,765,668 1.8 Finland 49,904,672 1.7 Egypt 44,238,378 1.5 Malaysia 41,473,834 1.4 Austria 33,618,841 1.1 Ireland 32,382,679 1.1 The Netherlands 31,173,370 1.0 Greece 30,420,965 1.0 Spain 29,486,252 1.0 Venezuela 25,951,542 0.9 Italy 22,129,731 0.7 Supranational 19,238,430 0.6 New Zealand 14,235,599 0.5 Canada 12,957,184 0.4 12 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- Panama 11,244,050 0.4 Hungary 9,438,621 0.3 Belgium 8,882,602 0.3 Nigeria 7,932,626 0.3 India 7,292,700 0.2 Luxembourg 7,137,046 0.2 Swaziland 3,878,163 0.1 Bulgaria 3,796,362 0.1 Algeria 2,733,437 0.1 China 2,178,615 0.1 Guatemala 2,162,175 0.1 El Salvador 1,285,725 0.0 Ecuador 1,235,321 0.0 Ivory Coast 524,189 0.0 -------------------------------- Total $2,978,770,913 100.0% ================================ FEDERAL TAX. The approximate aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments for federal income tax purposes as of June 30, 2005 are noted below. The primary difference between book and tax appreciation or depreciation of securities and other investments, if applicable, is attributable to the tax deferral of losses. Federal tax cost of securities $2,908,744,883 =============== Gross unrealized appreciation $ 115,452,832 Gross unrealized depreciation (45,426,802) --------------- Net unrealized appreciation $ 70,026,030 =============== NOTES TO QUARTERLY STATEMENT OF INVESTMENTS SECURITIES VALUATION. The Fund calculates the net asset value of its shares as of the close of The New York Stock Exchange (the Exchange), normally 4:00 P.M. Eastern time, on each day the Exchange is open for business. Securities listed or traded on National Stock Exchanges or other domestic or foreign exchanges are valued based on the last sale price of the security traded on that exchange prior to the time when the Fund's assets are valued. Securities traded on NASDAQ are valued based on the closing price provided by NASDAQ prior to the time when the Fund's assets are valued. In the absence of a sale, the security is valued at the last sale price on the prior trading day, if it is within the spread of the closing "bid" and "asked" prices, and if not, at the closing bid price. Corporate, government and municipal debt instruments having a remaining maturity in excess of sixty days and all mortgage-backed securities will be valued at the mean between the "bid" and "asked" prices. Futures contracts traded on a commodities or futures exchange will be valued at the final settlement price or official closing price on the principal exchange as reported by such principal exchange at its trading session ending at, or most recently prior to, the time when the Fund's assets are valued. Securities may be valued primarily using dealer- supplied valuations or a portfolio pricing service authorized by the Board of Trustees. Securities (including restricted securities) for which market quotations are not readily available are valued at their fair value. Foreign and domestic securities whose values have been 13 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- materially affected by what the Manager identifies as a significant event occurring before the Fund's assets are valued but after the close of their respective exchanges will be fair valued. Fair value is determined in good faith using consistently applied procedures under the supervision of the Board of Trustees. Short-term "money market type" debt securities with remaining maturities of sixty days or less are valued at amortized cost (which approximates market value). STRUCTURED NOTES. The Fund invests in structured notes whose market values, interest rates and/or redemption prices are linked to the performance of underlying foreign currencies, interest rate spreads, stock market indices, prices of individual securities, commodities or other financial instruments or the occurrence of other specific events. The structured notes are often leveraged, increasing the volatility of each note's market value relative to the change in the underlying linked financial element or event. Fluctuations in value of these securities are recorded as unrealized gains and losses in the accompanying financial statements. The Fund records a realized gain or loss when a structured note is sold or matures. As of June 30, 2005, the market value of these securities comprised 27.4% of the Fund's net assets and resulted in unrealized cumulative gains of $38,518,113. SECURITIES ON A WHEN-ISSUED BASIS OR FORWARD COMMITMENT. Delivery and payment for securities that have been purchased by the Fund on a when-issued basis or forward commitment can take place up to ten days or more after the trade date. Normally the settlement date occurs within six months after the trade date; however, the Fund may, from time to time, purchase securities whose settlement date extends six months or more beyond trade date. During this period, such securities do not earn interest, are subject to market fluctuation and may increase or decrease in value prior to their delivery. The Fund maintains internally designated assets with a market value equal to or greater than the amount of its purchase commitments. The purchase of securities on a when-issued basis or forward commitment may increase the volatility of the Fund's net asset value to the extent the Fund executes such transactions while remaining substantially fully invested. The Fund may also sell securities that it purchased on a when-issued basis or forward commitment prior to settlement of the original purchase. As of June 30, 2005, the Fund had purchased $14,917,624 of securities issued on a when-issued basis or forward commitment and sold $16,558,794 of securities issued on a when-issued basis or forward commitment. SECURITY CREDIT RISK. The Fund invests in high-yield securities, which may be subject to a greater degree of credit risk, market fluctuations and loss of income and principal, and may be more sensitive to economic conditions than lower-yielding, higher-rated fixed income securities. The Fund may acquire securities in default, and is not obligated to dispose of securities whose issuers subsequently default. As of June 30, 2005, securities with an aggregate market value of $19,543,086, representing 0.64% of the Fund's net assets, were in default. FOREIGN CURRENCY TRANSLATION. The Fund's accounting records are maintained in U.S. dollars. The values of securities denominated in foreign currencies and amounts related to the purchase and sale of foreign securities and foreign investment income are translated into U.S. dollars as of the close of The New York Stock Exchange (the Exchange), normally 4:00 P.M. Eastern time, on each day the Exchange is open for business. Foreign exchange rates may be valued primarily using dealer supplied valuations or a portfolio pricing service authorized by the Board of Trustees. Reported net realized foreign exchange gains or losses arise from sales of portfolio 14 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- securities, sales and maturities of short-term securities, sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the values of assets and liabilities, including investments in securities at fiscal period end, resulting from changes in exchange rates. The effect of changes in foreign currency exchange rates on investments is separately identified from the fluctuations arising from changes in market values of securities held and reported with all other foreign currency gains and losses in the Fund's Statement of Operations. JOINT REPURCHASE AGREEMENTS. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, the Fund, along with other affiliated funds advised by the Manager, may transfer uninvested cash balances into joint trading accounts on a daily basis. These balances are invested in one or more repurchase agreements. Securities pledged as collateral for repurchase agreements are held by a custodian bank until the agreements mature. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal. In the event of default by the other party to the agreement, retention of the collateral may be subject to legal proceedings. FOREIGN CURRENCY CONTRACTS A foreign currency contract is a commitment to purchase or sell a foreign currency at a future date, at a negotiated rate. The Fund may enter into foreign currency contracts to settle specific purchases or sales of securities denominated in a foreign currency and for protection from adverse exchange rate fluctuation. Risks to the Fund include the potential inability of the counterparty to meet the terms of the contract. The net U.S. dollar value of foreign currency underlying all contractual commitments held by the Fund and the resulting unrealized appreciation or depreciation are determined using prevailing foreign currency exchange rates. Unrealized appreciation and depreciation on foreign currency contracts are reported in the Statement of Assets and Liabilities as a receivable or payable and in the Statement of Operations with the change in unrealized appreciation or depreciation. The Fund may realize a gain or loss upon the closing or settlement of the foreign transaction. Contracts closed or settled with the same broker are recorded as net realized gains or losses. Such realized gains and losses are reported with all other foreign currency gains and losses in the Statement of Operations. As of June 30, 2005, the Fund had outstanding foreign currency contracts as follows:
EXPIRATION CONTRACT AMOUNT VALUATION AS OF UNREALIZED UNREALIZED CONTRACT DESCRIPTION DATES (000S) JUNE 30, 2005 APPRECIATION DEPRECIATION - ------------------------------------------------------------------------------------------------------------------------------- CONTRACTS TO PURCHASE Argentine Peso (ARP) 2/2/06 17,910ARP $ 6,071,006 $ 120,840 $ -- 7/25/05 - Brazilian Real (BRR) 4/28/06 559,495BRR 226,184,770 30,565,833 -- Canadian Dollar (CAD) 9/27/05 18,290CAD 14,961,349 70,002 -- Chilean Peso (CLP) 7/25/05 8,005,000CLP 13,851,476 18,747 --
15 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- Czech Koruna (CZK) 8/23/05 346,300CZK 13,947,403 550,630 Euro (EUR) 7/15/05 7,920EUR 9,589,890 40,509 -- Hungary Forints (HUF) 7/25/05 5,986,000HUF 29,258,742 102,831 -- 11/9/05 - Indian Rupee (INR) 12/20/05 491,940INR 11,210,180 281,115 -- 11/17/2005 - Japanese Yen (JPY) 11/22/05 18,442,000JPY 168,740,695 -- 6,063,788 Mexican Nuevo Peso (MXN) 7/25/05 316,600MXN 29,320,465 258,596 -- Russian Ruble (RUR) 10/27/05 302,480RUR 10,520,710 158,257 -- 8/12/05 - Slovakia Koruna (SKK) 12/5/05 1,524,670SKK 48,346,290 233,332 544,085 7/11/05 - South African Rand (ZAR) 7/25/05 267,051ZAR 40,044,108 407,362 795,176 7/11/05 - South Korean Won (KRW) 9/29/05 89,431,000KRW 86,414,062 -- 1,945,844 Swedish Krona (SEK) 7/21/05 235,800SEK 30,215,791 -- 701,853 Thailand Baht (THB) 8/31/05 585,500THB 14,149,348 -- 1,105,994 7/6/05 - Turkish Lira (TRY) 7/25/05 54,570TRY 40,751,707 959,720 -- ----------------------------------- 33,217,144 11,707,370 ----------------------------------- CONTRACTS TO SELL Australian Dollar (AUD) 12/5/05 76,260AUD 57,594,525 -- 1,009,605 11/9/05 - British Pound Sterling (GBP) 3/8/06 68,780GBP 122,787,080 6,205,208 -- 7/12/05 - Colombian Peso (COP) 7/26/05 60,515,362COP 25,950,214 42,264 2,910 Czech Koruna (CZK) 7/25/05 717,600CZK 28,859,018 228,707 -- 7/11/05 - Euro (EUR) 3/8/06 352,625EUR 429,321,408 7,330,355 47,373 7/25/05 - Japanese Yen (JPY) 3/8/06 5,036,000JPY 45,923,927 1,294,654 -- New Taiwan Dollar (TWD) 7/25/05 911,900TWD 28,818,083 273,348 -- New Zealand Dollar (NZD) 9/27/05 21,000NZD 14,486,433 244,227 -- 7/21/05 - Norwegian Krone (NOK) 7/25/05 387,600NOK 59,366,041 513,690 -- Polish Zloty (PLZ) 7/1/05 60,150,234PLZ 18,010,400 -- 132,488 Swiss Franc (CHF) 7/25/05 36,280CHF 28,360,385 163,646 -- 7/25/05 - Turkish Lira (TRY) 2/8/06 104,388TRY 75,866,863 -- 4,663,960 ---------------------------------- 16,296,099 5,856,336 ---------------------------------- Total unrealized appreciation and depreciation $ 49,513,243 $ 17,563,706 ==================================
FUTURES CONTRACTS A futures contract is a commitment to buy or sell a specific amount of a commodity or financial instrument at a negotiated price on a stipulated future date. Futures contracts are traded on a commodity exchange. The Fund may buy and sell futures contracts that 16 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- relate to broadly based securities indices (financial futures) or debt securities (interest rate futures) in order to gain exposure to or protection from changes in market value of stocks and bonds or interest rates. The Fund may also buy or write put or call options on these futures contracts. The Fund generally sells futures contracts as a hedge against increases in interest rates and decreases in market value of portfolio securities. The Fund may also purchase futures contracts to gain exposure to market changes as it may be more efficient or cost effective than actually buying securities. Upon entering into a futures contract, the Fund is required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by the Fund each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses. The Fund recognizes a realized gain or loss when the contract is closed or has expired. Cash held by the broker to cover initial margin requirements on open futures contracts is noted in the Statement of Assets and Liabilities. Securities held in collateralized accounts to cover initial margin requirements on open futures contracts are noted in the Statement of Investments. The Statement of Assets and Liabilities reflects a receivable and/or payable for the daily mark to market for variation margin. Realized gains and losses are reported in the Statement of Operations as the closing and expiration of futures contracts. The net change in unrealized appreciation and depreciation is reported in the Statement of Operations. Risks of entering into futures contracts (and related options) include the possibility that there may be an illiquid market and that a change in the value of the contract or option may not correlate with changes in the value of the underlying securities. As of June 30, 2005, the Fund had outstanding futures contracts as follows:
UNREALIZED EXPIRATION NUMBER OF VALUATION AS OF APPRECIATION CONTRACT DESCRIPTION DATES CONTRACTS JUNE 30, 2005 DEPRECIATION) - ------------------------------------------------------------------------------------------------------ CONTRACTS TO PURCHASE Hang Seng Stock Index 7/28/05 54 $ 4,936,508 $ (12,187) Standard & Poor's/MIB Index, 10 yr. 9/16/05 25 4,903,399 (5,408) Standard & Poor's ASX 200 Index 9/15/05 62 5,044,853 43,506 --------------- 25,911 --------------- CONTRACTS TO SELL CAC-40 10 Index 9/16/05 181 9,308,027 (78,032) DAX Index 9/16/05 60 8,390,917 (17,517) FTSE 100 Index 9/16/05 145 13,305,458 (147,759) Nikkei 225 Index 9/8/05 179 18,656,929 (597,157) Standard & Poor's/Toronto Stock Exchange 60 Index 9/15/05 56 5,083,513 (39,936) Standard & Poor's 500 Index 9/15/05 16 4,782,000 20,340 --------------- (860,061) --------------- $ (834,150) ===============
17 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- OPTION ACTIVITY The Fund may buy and sell put and call options, or write put and covered call options on portfolio securities in order to produce incremental earnings or protect against changes in the value of portfolio securities. The Fund generally purchases put options or writes covered call options to hedge against adverse movements in the value of portfolio holdings.When an option is written, the Fund receives a premium and becomes obligated to sell or purchase the underlying security at a fixed price, upon exercise of the option. Options are valued daily based upon the last sale price on the principal exchange on which the option is traded and unrealized appreciation or depreciation is recorded. The Fund will realize a gain or loss upon the expiration or closing of the option transaction. When an option is exercised, the proceeds on sales for a written call option, the purchase cost for a written put option, or the cost of the security for a purchased put or call option is adjusted by the amount of premium received or paid. Securities designated to cover outstanding call options are noted in the Statement of Investments where applicable. Contracts subject to call, expiration date, exercise price, premium received and market value are detailed in a note to the Statement of Investments. Options written are reported as a liability in the Statement of Assets and Liabilities. Realized gains and losses are reported in the Statement of Operations. The risk in writing a call option is that the Fund gives up the opportunity for profit if the market price of the security increases and the option is exercised. The risk in writing a put option is that the Fund may incur a loss if the market price of the security decreases and the option is exercised. The risk in buying an option is that the Fund pays a premium whether or not the option is exercised. The Fund also has the additional risk of not being able to enter into a closing transaction if a liquid secondary market does not exist. Written option activity for the period ended June 30, 2005 was as follows:
CALL OPTIONS PUT OPTIONS ---------------------------------------- ------------------------------------ PRINCIPAL/ PRINCIPAL/ NUMBER OF AMOUNT OF NUMBER OF AMOUNT OF CONTRACTS PREMIUMS CONTRACTS PREMIUMS - ------------------------------------------------------------------------------------------------------------ Options outstanding as of September 30, 2004 14,995,007,110 $ 1,096,886 -- $ -- Options written 14,160 25,556 28,100,000 64,863 Options closed or expired (14,995,021,270) (1,122,442) (28,100,000) (64,863) ------------------------------------------------------------------------------ Options outstanding as of June 30, 2005 -- $ -- -- $ -- ==============================================================================
CREDIT SWAP CONTRACTS The Fund may enter into a credit default swap contract to seek to maintain a total return on a particular investment or portion of its portfolio, or for other non-speculative purposes. Credit default swap contracts are subject to credit risks (for example if the 18 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- counterparty fails to meet its obligations). As a purchaser of a credit default swap contract, the Fund pays a periodic interest fee on the notional amount to the counterparty. This interest fee is accrued daily as a component of unrealized appreciation (depreciation) and is recorded as realized loss upon payment. Upon occurrence of a specific credit event with respect to the underlying referenced debt obligation, the Fund is obligated to deliver that security to the counterparty in exchange for receipt of the notional amount from the counterparty. The difference between the value of the security delivered and the notional amount received is recorded as realized gain. Information regarding such credit swaps as of June 30, 2005 is as follows:
ANNUAL NOTIONAL AMOUNT INTEREST RATE UNREALIZED RECEIVED BY THE FUND PAID BY THE APPRECIATION COUNTERPARTY REFERENCED DEBT OBLIGATION UPON CREDIT EVENT FUND (DEPRECIATION) - ---------------------------------------------------------------------------------------------------------------------------------- Citigroup Global Markets Limited London, UK Russian Federation 5% Step-up Bond $ 33,430,000 1.09% (106,852) - ---------------------------------------------------------------------------------------------------------------------------------- Deutsche Bank: Peru Government 8.75% International Bond 1,900,000 2.95 (80,015) Republic of Panama 9.625% Bond 1,835,000 3.40 (108,053) United Mexican States 11.375% Bond 2,790,000 2.08 (152,173) - ---------------------------------------------------------------------------------------------------------------------------------- JPMorgan Chase New York, NY: Inter-American Development Bank 3.50% Bond 15,910,000 0.15 (46,788) Kingdom of Jordan 6% Step-up Bond 390,000 2.00 (2,000) Russian Federation 2.50% Step-up Bond 550,000 2.40 (41,679) - ---------------------------------------------------------------------------------------------------------------------------------- Lehman Brothers Special Financing, Inc.: Brazil 12.25% Global Bond 5,120,000 6.15 (734,562) Republic of Turkey 11.875% Bond 1,660,000 3.15 (59,503) - ---------------------------------------------------------------------------------------------------------------------------------- Morgan Stanley Capital Services, Inc. Turkey Government 11.875% International Bond 7,010,000 3.22 (36,653) - ---------------------------------------------------------------------------------------------------------------------------------- UBS AG, London Branch Federal Republic of Brazil 12.25% Bond 4,780,000 4.50 (315,622) - ---------------------------------------------------------------------------------------------------------------------------------- $ (1,683,900) ===============
19 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- As a seller of a credit default swap contract, the Fund receives a periodic interest fee on the notional amount from the counterparty. This interest fee is accrued daily as a component of unrealized appreciation (depreciation) and is recorded as realized gain upon receipt. Upon occurrence of a specific credit event with respect to the underlying referenced debt obligation, the Fund receives that security from the counterparty in exchange for payment of the notional amount to the counterparty. The difference between the value of the security received and the notional amount paid is recorded as realized loss. Information regarding such credit swaps as of June 30, 2005 is as follows:
ANNUAL INTEREST NOTIONAL AMOUNT RATE PAID BY FUND RECEIVED UNREALIZED UPON CREDIT BY THE APPRECIATION COUNTERPARTY REFERENCED DEBT OBLIGATION EVENT FUND (DEPRECIATION) - ----------------------------------------------------------------------------------------------------------------------------- Citigroup Global Markets Limited London, UK Russian Federation 5% Step-up Bond $ 58,500,000 0.70% $ 95,094 - ----------------------------------------------------------------------------------------------------------------------------- Lehman Brothers Special Financing, Inc. Republic of Turkey 11.875% Bond 3,645,000 1.87 49,055 - ----------------------------------------------------------------------------------------------------------------------------- UBS AG, London Branch Federal Republic of Brazil 12.25% Bond 15,600,000 3.80 511,341 - ----------------------------------------------------------------------------------------------------------------------------- $ 655,489 =============
INTEREST RATE SWAP CONTRACTS The Fund may enter into an interest rate swap transaction to maintain a total return or yield spread on a particular investment, or portion of its portfolio, or for other non- speculative purposes. Interest rate swaps involve the exchange of commitments to pay or receive interest, e.g., an exchange of floating rate payments for fixed rate payments. The coupon payments are based on an agreed upon principal amount and a specified index. Because the principal amount is not exchanged, it represents neither an asset nor a liability to either counterparty, and is referred to as notional. The Fund records an increase or decrease to unrealized gain (loss), in the amount due to or owed by the Fund at termination or settlement. Interest rate swaps are subject to credit risk (if the counterparty fails to meet its obligations) and interest rate risk. The Fund could be obligated to pay more under its swap agreements than it receives under them, as a result of interest rate changes. As of June 30, 2005, the Fund had entered into the following interest rate swap agreements: 20 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
RATE RATE PAID BY RECEIVED BY UNREALIZED SWAP NOTIONAL THE FUND AT THE FUND AT FLOATING TERMINATION APPRECIATION COUNTERPARTY AMOUNT JUNE 30, 2005 JUNE 30, 2005 RATE INDEX DATES (DEPRECIATION) - ------------------------------------------------------------------------------------------------------------------------------------ Citigroup Global Markets Holdings, Inc.: 333,000,000TWD 2.0200% 1.2310% 90-Day CPTW 3/4/09 $ (72,167) 16,830,000PLZ 5.9000 5.5200 Six-Month WIBO 3/24/10 194,290 26,928,000PLZ 5.9000 5.5500 Six-Month WIBO 3/24/10 321,786 18,776,000,000KRW 3.5000 4.3400 Three-Month KWCDC 2/17/10 245,998 333,000,000TWD 2.0200 1.2350 90-Day CPTW 3/23/09 (65,916) - ------------------------------------------------------------------------------------------------------------------------------------ Credit Suisse First Boston, Inc. 46,785,000PLZ 4.9100 4.4800 Six-Month WIBO 7/1/10 37,870 - ------------------------------------------------------------------------------------------------------------------------------------ Deutsche Bank AG: 454,000,000INR 4.8300 5.0079 IRS 1/14/09 369,370 11,687,000,000KRW 3.5000 4.3100 Three-Month KWCDC 3/4/10 131,481 4,675,000,000KRW 3.5000 4.2800 Three-Month KWCDC 3/4/10 46,734 9,350,000,000KRW 3.5000 4.2700 Three-Month KWCDC 3/4/10 89,560 39,780,000EUR 2.1600 2.4700 Six-Month EURIBOR 4/25/07 (7,846) 8,750,000EUR 3.6040 2.1600 Six-Month EURIBOR 4/25/15 6,453 Three-Month LIBOR 65,000,000 4.8160 2.9588 BBA 3/8/15 (3,035,424) 47,420,000EUR 2.1340 3.8300 Three-Month EURIBOR 3/8/15 3,133,929 Three-Month 9,350,000,000KRW 3.5000 4.2700 KWCDC 3/4/10 89,560 19,570,000CAD 3.0480 2.5900 Three-Month CDOR 1/28/07 (58,097) 11,686,000,000KRW 3.5500 4.2400 Three-Month KWCDC 3/4/10 97,284 8,210,000,000KRW 3.5100 3.8000 Three-Month KWCDC 5/24/10 (37,356) 11,050,000 3.6600 5.2500 Six-Month LIBOR 6/23/15 (313,458) 500,000,000INR 4.8700 4.5470 Six-Month MIFOR 3/22/09 453,230 - ------------------------------------------------------------------------------------------------------------------------------------ Deutsche Bank AG, 5 yr. 187,000,000TWD 2.5900 1.0240 90-Day CPTW 8/19/09 (4,192) - ------------------------------------------------------------------------------------------------------------------------------------
21 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- Goldman Sachs Capital Markets LP: 8,832,997BRR 18.6900 16.2800 BZDI 1/4/10 35,455 94,500,000MXN 9.9800 10.2900 MXN TIIE 6/14/15 201,106 151,970,000MXN 10.0300 9.8300 MXN TIIE 6/10/10 (145,941) 148,300,000MXN 10.0300 10.0100 MXN TIIE 6/4/10 (253,673) 148,300,000MXN 9.8600 10.0150 MXN TIIE 6/7/10 (159,181) 93,375,000MXN 10.0150 10.3000 MXN TIIE 6/1/15 204,987 93,375,000MXN 10.0100 10.4300 MXN TIIE 5/29/15 279,205 21,965,083BRR 18.2500 17.7200 BZDI 1/2/07 (26,070) 5,902,626BRR 18.7000 16.1500 BZDI 1/4/10 8,350 7,641,458BRR 18.7000 16.2500 BZDI 1/4/10 25,467 120,050,000MXN 9.9800 10.2200 MXN TIIE 1/30/15 215,564 187,935,994BRR 19.7300 17.1800 BZDI 1/2/08 665,991 38,987,000BRR 19.2000 18.1600 BZDI 1/2/08 477,784 - ------------------------------------------------------------------------------------------------------------------------------------ Goldman Sachs Group, Inc. (The): 144,630,000MXN 9.9800 9.7400 MXN TIIE 1/5/10 92,964 61,200,000MXN 10.0150 10.8500 MXN TIIE 3/5/15 340,433 46,968,000BRR 18.6300 18.0000 BZDI 1/2/07 51,182 17,037,427BRR 18.2500 17.1700 BZDI 1/2/08 14,051 20,823,527BRR 18.2500 17.1700 BZDI 1/2/08 17,173 109,710,000MXN 10.0000 10.7000 MXN TIIE 5/8/15 507,738 100,000,000MXN 10.0000 10.7500 MXN TIIE 5/8/15 493,042 289,270,000MXN 10.0200 9.8400 MXN TIIE 12/31/09 284,761 - ------------------------------------------------------------------------------------------------------------------------------------ JPMorgan Chase Bank: Three-Month LIBOR 13,486,500 3.3420 2.5600 flat 3/31/08 241,854 Six-Month LIBOR 1,080,000,000HUF 8.8800 7.0000 flat 7/14/08 189,775 125,000,000EUR 2.2110 4.1060 Six-Month LIBOR 10/8/14 14,790,809 161,780,000MXN 10.0350 10.8800 28-Day MXN TIIE 11/16/14 920,575 Three-Month LIBOR 66,000,000ZAR 6.9430 9.7800 flat 2/20/11 950,811 Three-Month LIBOR 66,000,000ZAR 6.9361 9.6800 flat 2/18/11 905,111 - ------------------------------------------------------------------------------------------------------------------------------------ Lehman Brothers Special Financing, Inc. 55,540,000PLZ 4.7400 4.5300 Six-Month WIBO 7/5/10 -- - ------------------------------------------------------------------------------------------------------------------------------------ Morgan Stanley Capital Services, Inc.: 24,054,685BRR 18.6800 16.8800 BZDI 1/2/08 (60,719) 150,000,000ZAR 7.5000 7.8100 Three-Month JIBA 2/4/10 189,463 50,970,000ZAR 6.9360 8.1400 Three-Month JIBA 5/18/10 158,661 22 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- --------------- $ 23,239,817 ===============
Notional amount is reported in U.S. Dollars, except for those denoted in the following currencies: BRR Brazilian Real CAD Canadian Dollar EUR Euro HUF Hungary Forints INR Indian Rupee KRW South Korean Won MXN Mexican Nuevo Peso PLZ Polish Zloty TWD New Taiwan Dollar ZAR South African Rand Index abbreviations are as follows: BZDI Brazil Cetip Interbank Deposit Rate CDOR Canada Bankers Acceptances Rate CPTW Bloomberg Taiwan Secondary Commercial Papers EURIBOR Euro Interbank Offered Rate IRS India Swap Composites JIBA South Africa Johannesburg Interbank Agreed Rate KWCDC South Korean Won LIBOR London-Interbank Offered Rate LIBOR BBA London-Interbank Offered Rate British Bankers Association MIFOR Mumbai Interbank Forward Offer Rate MXN TIIE Mexican Peso-Interbank Equilibrium Interest Rate WIBO Poland Warsaw Interbank Offer Bid Rate TOTAL RETURN SWAP CONTRACTS The Fund may enter into a total return swap transaction to maintain a total return on a particular investment, or portion of its portfolio, or for other non-speculative purposes. Because the principal amount is not exchanged, it represents neither an asset nor a liability to either counterparty, and is referred to as notional. The Fund records an increase or decrease to unrealized gain (loss), in the amount due to or owed by the Fund at termination or settlement. Total return swaps are subject to risks (if the counterparty fails to meet its obligations). As of June 30, 2005, the Fund had entered into the following total return swap agreements:
PAID BY RECEIVED BY UNREALIZED SWAP NOTIONAL THE FUND AT THE FUND AT TERMINATION APPRECIATION COUNTERPARTY AMOUNT JUNE 30, 2005 JUNE 30, 2005 DATES (DEPRECIATION) - --------------------------------------------------------------------------------------------------------------------- Deutsche Bank AG $ 16,760,000 Six-Month LIBOR BBA 5.46% 5/13/15 $ (625,935) Goldman Sachs Group, Inc. 11,580,000 Six-Month LIBOR BBA 5.10 1/14/15 784,985 23 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - -------------------------------------------------------------------------------- Goldman Sachs Group, Inc. 11,580,000 Six-Month LIBOR BBA 5.08 1/20/15 883,847 ------------------ $ 1,042,897 ==================
Index abbreviations are as follows: LIBOR BBA London-Interbank Offered Rate British Bankers Association FOREIGN EXCHANGE VOLATILITY SWAP CONTRACTS The Fund may enter into a foreign exchange volatility swap transaction to hedge the direction of volatility in a particular currency, or for other non-speculative purposes. In foreign exchange volatility swaps, counterparties agree to buy or sell volatility at a specific volatility level over a fixed period. Payment is normally made on the basis of a currency amount per percentage point above or below the volatility strike level at maturity. Because the principal amount is not exchanged, it represents neither an asset nor a liability to either counterparty, and is referred to as a notional principal amount. The Fund records a daily increase or decrease to unrealized gain (loss) based on changes in the amount due to or owed by the Fund at the expiration date of the swap. Foreign exchange volatility swaps are subject to credit risks (if the counterparty fails to meet its obligations). As of June 30, 2005, the Fund had entered into the following interest rate swap agreements:
NOTIONAL PRINCIPAL EXPIRATION UNREALIZED SWAP COUNTERPARTY CURRENCY AMOUNT DATE PRICE DEPRECIATION - ----------------------------------------------------------------------------------------------------------------------- Goldman Sachs Group, Inc. (The) Mexican Nuevo Peso $ 30,880,000 10/12/05 11.449MXN $ 132,197
SWAPTION TRANSACTIONS The Fund may enter into a swaption transaction, whereby a contract that grants the holder, in return for payment of the purchase price (the "premium") of the option, the right, but not the obligation, to enter into an interest rate swap at a preset rate within a specified period of time, with the writer of the contract. The writer receives premiums and bears the risk of unfavorable changes in the preset rate on the underlying interest rate swap. Swaption contracts written by the Fund do not give rise to counterparty credit risk as they obligate the Fund, not its counterparty, to perform. Swaptions written are reported as a liability in the Statement of Assets and Liabilities. Written swaption activity for the period ended June 30, 2005 was as follows:
CALL SWAPTIONS PUT SWAPTIONS ------------------------------ ------------------------------ NOTIONAL AMOUNT OF NOTIONAL AMOUNT OF AMOUNT PREMIUMS AMOUNT PREMIUMS - ---------------------------------------------------------------------------------------------- Swaptions outstanding as of September 30, 2004 $ 50,550,000 $ 500,195 $ 62,395,000 $ 291,178 Swaptions written 263,185,000 1,795,536 62,395,000 215,509 Swaptions closed or expired (238,445,000) (2,021,097) (124,790,000) (506,687) ---------------------------------------------------------------- Swaptions outstanding as of June 30, 2005 $ 75,290,000 $ 274,634 $ -- $ -- ================================================================
As of June 30, 2005, the Fund had entered into the following swaption contract: 24 | Oppenheimer International Bond Fund Oppenheimer International Bond Fund STATEMENT OF INVESTMENTS June 30, 2005/Unaudited - --------------------------------------------------------------------------------
NOTIONAL EXPIRATION EXERCISE PREMIUM SWAPTIONS AMOUNT DATE PRICE RECEIVED VALUE - ---------------------------------------------------------------------------------------------------- Deutsche Bank AG 75,290,000AUD 8/10/05 5.78AUD $ 274,634 $ 552,880
ILLIQUID OR RESTRICTED SECURITIES AND CURRENCY As of June 30, 2005, investments in securities included issues that are illiquid or restricted. Restricted securities are purchased in private placement transactions, are not registered under the Securities Act of 1933, may have contractual restrictions on resale, and are valued under methods approved by the Board of Trustees as reflecting fair value. A security may also be considered illiquid if it lacks a readily available market or if its valuation has not changed for a certain period of time. The Fund will not invest more than 10% of its net assets (determined at the time of purchase and reviewed periodically) in illiquid or restricted securities. Certain restricted securities, eligible for resale to qualified institutional investors, are not subject to that limitation. Information concerning restricted securities and currency is as follows:
ACQUISITION VALUATION AS OF UNREALIZED SECURITY DATE COST JUNE 30, 2005 APPRECIATION - ------------------------------------------------------------------------------------------------ CURRENCY Argentine Peso (ARP) 6/28/05 $ 921,918 $ 924,313 $ 2,395
SECURITIES LENDING The Fund lends portfolio securities from time to time in order to earn additional income. In return, the Fund receives collateral in the form of US Treasury obligations or cash, against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the funds and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund could experience delays and cost in recovering the securities loaned or in gaining access to the collateral. Cash collateral is invested in cash equivalents. The Fund retains a portion of the interest earned from the collateral. The Fund also continues to receive interest or dividends paid on the securities loaned. As of June 30, 2005, the Fund had on loan securities valued at $112,043,317. Collateral of $114,027,612 was received for the loans, of which $ 30,093,943 was received in cash and subsequently invested in approved instruments. 25 | Oppenheimer International Bond Fund ITEM 2. CONTROLS AND PROCEDURES. (a) Based on their evaluation of the registrant's disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c)) as of June 30, 2005, the registrant's principal executive officer and principal financial officer found the registrant's disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by the registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to the registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. (b) There have been no significant changes in the registrant's internal controls over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. Exhibits attached hereto. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Oppenheimer International Bond Fund By: /s/John V. Murphy ----------------------- John V. Murphy Principal Executive Officer Date: August 10, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/John V. Murphy ----------------------- John V. Murphy Principal Executive Officer Date: August 10, 2005 By: /s/Brian W. Wixted ----------------------- Brian W. Wixted Principal Financial Officer Date: August 10, 2005 EX-99.CERT 2 rq0880_15651ex302.txt RQ0880_15651EX302.TXT Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, John V. Murphy, certify that: 1. I have reviewed this report on Form N-Q of Oppenheimer International Bond Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. /s/ John V. Murphy - ---------------------------- John V. Murphy Principal Executive Officer Date: August 10, 2005 Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, Brian W. Wixted, certify that: 1. I have reviewed this report on Form N-Q of Oppenheimer International Bond Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. /s/ Brian W. Wixted - ---------------------------- Brian W. Wixted Principal Financial Officer Date: August 10, 2005 -----END PRIVACY-ENHANCED MESSAGE-----