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.

PepsiCo printed an upsized €2.5bn four-part deal on Wednesday, making the most of a good tailwind following its earnings.

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.

Digital financial services company Zip broke new ground with its 12th buy now, pay later consumer loans ABS, the A$300m (US$210m) Zip Master Trust Series 2026-1, which priced on January 30. 

General Motors on Tuesday kick-started US asset-backed issuance in February on the heels of a solid January when issuers sold more than US$27bn of supply.

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.

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.

Veradermics raised an upsized US$256.3m late Tuesday from its Nasdaq IPO, an offering that included participation from Eli Lilly. 

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.

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.