Commerzbank

Private school operator Cognita was the first borrower in a week to attempt an issue in the euro high yield market with a sub-benchmark size deal. It sought funding for its acquisition by Jacobs Holding, the Swiss investment and charitable firm, but pulled the bond deal after weak demand.

Technological innovation is dramatically disrupting society at every level, and financial services are no different. It is impossible to predict how technology will evolve, but the most successful banks will be the ones that adapt to become technology companies themselves, says Michael F. Spitz, CEO of Main Incubator, the research and development unit of Commerzbank.

BNP Paribas has hired a senior German coverage banker from Commerzbank.

Building materials company Knauf has signed a €4bn-equivalent underwritten debt package to go towards its purchase of US peer USG Corp, as lenders continue to reap the rewards of Germany’s booming M&A market.

Supranationals found heavy demand from investors for privately placed taps of outstanding dollar and euro notes over the past week, with Asian Development Bank printing particularly heavy volumes.

UK hotel group InterContinental’s debut euro deal was the smallest of three new corporate bond deals on Thursday after Wednesday saw no new issuance. While Allergan and BMW sold multi-tranche deals, IHG’s deal had been well flagged and still received due attention from investors.

Barito Pacific and Bank Rakyat Indonesia have returned to the international loan market for new fundraisings.

Bank Rakyat Indonesia has mandated 13 banks for a $700m multi-tranche borrowing, breaking a three-year absence from the loan syndications market.

Rating: Aa1/—/AAA

After a month of consistent spread widening in European corporate bonds, bankers are hoping for tighter pricing in November, but some investors say the new levels better reflect the value on offer in the market.

Österreichische Kontrollbank and Erste Abwicklungsanstalt priced well received dollar deals on Tuesday. The pipeline in the currency is building with Bank Nederlanse Gementeen and Swedish Export Credit Corporation having lined up three year trades.

Österreichische Kontrollbank will complete its benchmark funding for the year with a no-grow $1bn five year. Meanwhile, Erste Abwicklungsanstalt has lined up its second dollar deal of the year in the three year part of the curve.