UBS increased its returns target for 2028 after delivering bumper annual results as its takeover of Credit Suisse continues to bear fruit and it delivered record fourth-quarter trading revenues, up 17% from a year earlier.

(Reuters) - Spain's Santander will buy US regional lender Webster Financial in a US$12.2bn deal to create one of the country's top 10 retail and commercial banks, it said on Tuesday, marking a major bet on the US market.

Regulatory authorities should do more to improve the resilience of the US$16trn government bond repo market, the Financial Stability Board has warned in a report outlining “several vulnerabilities” that it said could pose risks to the broader financial system.  

JP Morgan has expanded the roles of Conor Hillery and Matthieu Wiltz, its co-heads of EMEA, to co-heads of global banking in EMEA, with Wiltz also shifting more towards investment banking from trading where he has spent most of his career.

ING Groep on Wednesday attracted more than €7.5bn of demand for a two-part €2.5bn green holdco senior transaction, as investors get used to ever tighter spreads in the product and focus instead on attractive yield entry points. 

Turkey took another chunk out of its international funding needs for the year with a return to the euro market on Tuesday, leaving the sovereign well placed to manage its strategy.

Aareal Bank brought rare German supply to the sterling covered bond market on Wednesday with the execution of its £250m long three-year mortgage-backed bond, the first Pfandbrief printed in the UK currency in over a year.

Metinvest is set to commence a non-deal roadshow on Thursday with fixed-income investors as the Ukrainian steel and mining company weighs its options ahead of an April maturity, just days after announcing that talks had broken down to renegotiate its debt with a group of bondholders.

Sao Paulo water utility Sabesp has delivered a landmark for Latin American sustainable finance, issuing by far the largest blue bond yet while showcasing what bankers say is a fast-emerging way to bring bond investors into multilateral A/B lending structures that have been traditionally dominated by banks.

US auto ABS from Ford Motor and General Motors could be partially displaced by cheaper deposit funding once the automakers' planned banks are up and running.

Vertical Bridge is returning to the ABS primary market with a US$1.66bn securitisation backed by a portfolio of wireless cell towers it oversees and that has increased significantly following a lease-backed deal with Verizon.

High Ridge has lined up its first aircraft securitisation, aiming to take advantage of improved funding conditions and robust demand from airlines that are trying to accommodate increasing ridership around the world.

ING Groep on Wednesday attracted more than €7.5bn of demand for a two-part €2.5bn green holdco senior transaction, as investors get used to ever tighter spreads in the product and focus instead on attractive yield entry points. 

EU Green Bonds totalling €24bn-equivalent have been issued since the bloc adopted its Green Bond Standard in December 2024 and volume is expected to grow steadily this year, according to research by Natixis. 

Sumitomo Mitsui Financial Group sold its first social bond on Tuesday, a US$500m 4.522% six-year non-call five digital inclusion TLAC deal. 

CAF – Development Bank of Latin America and the Caribbean has become the first multilateral development bank to apply the United Nations Children’s Fund’s Child-Lens Investing Framework to its bond issues.

The Frankfurt IPO of Asta Energy Solutions has raised €190.3m after Berenberg exercised the 15% secondary greenshoe after the close on Monday.

NYSE and Hong Kong-listed Chinese express delivery company ZTO Express (Cayman) is raising US$1.5bn from a five-year put-three convertible bond.

Shenzhen-listed Muyuan Foods has priced its Hong Kong listing at the maximum offer price to raise HK$10.7bn (US$1.37bn), said people with knowledge of the matter.

Data centre developer STACK Infrastructure has launched a A$2.96bn (US$2.07bn) five-year project financing into general syndication.

Beleaguered orange juice maker Summi (Group) Holdings has reached a debt restructuring agreement with five of its six lenders, gaining a brief relief from a debt crisis that worsened after the banks filed a winding-up petition a year ago.

Sponsors of the world’s largest leveraged buyout – the US$55bn acquisition of US video game giant Electronic Arts – are seeking commitments from lenders in Asia Pacific for a portion of the massive financing backing the deal.