Tariff headlines drive some HY auto parts names lower as Babilou loan plunges – Market Comment
Markets are down following newsflow that US President Donald Trump announced a 10% tariff on all imports into the US, with even higher rates for countries he called the “worst offenders"

Rovensa pulls EUR 1.11bn TLB amend-and-extend following 13 March commitment deadline
Portugal-based crop protection company has halted its leveraegd loan deal as market conditions worsen

Trump victory raises hopes for high yield markets, M&A revival
Leverage finance markets cheered Donald Trump’s win on the prospect the former president’s return to the White House will unleash deregulation and M&A, lower taxes and higher economy growth

Loan repricings continue to flood the primary market ahead of August lull
The US primary loan market has seen a steady flow of well-bid deals this week that were either upsized or priced tighter

Primary loan and bond markets shows signs of revival, but at a cost
Activity in the US junk debt market has picked up after the 4th of July and the momentum is expected to continue through 2H23, but at a cost for issuers.

CLO managers to jump into action as Covanta loan proposal omits spread adjustment
Covanta Holdings is the latest example of a US loan issuer looking to switch benchmark from Libor to Sofr, but without an accompanying credit spread adjustment

Seeds sewn for carbon credit market to flower into CLOs
Long-time structured credit specialist Jan Phillip Wassenaar has joined start-up NatureCredits as a senior advisor to support the evolving carbon credit industry

"Boardrooms are being hustled by activist shareholders using ESG data to drive economic value"
Pledges have been made and the Race to Zero has begun. Firms need to put their plans in place

"Do not rush to set up a check-box approach with negative screening and start de-investing"
Instead of rushing through an ESG framework, asset managers need to adopt a long- and short-term approach

Axa IM extends palm oil policy to cover ecosystem protection and deforestation
Axa Investment Managers says it is expanding its 2014 policy of excluding investments in companies which do not have sustainable palm oil production certificates by factoring in deforestation and ecosystem protection

The imperfect incorporation of ESG is no excuse not to act
Managers’ legal ESG responsibilities may be vague, but they must still set up a credible strategy

NNIP and FMO gain $250 million for emerging markets loan fund
The pair are aiming for a $750 million second close later this year