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* FARMS Securitisation Limited, the Eu1.6bn synthetic securitisation of Swedish agricultural mortgage loans originated by Spintab, is expected to launch next week. Price talk from lead managers Credit Suisse First Boston is 30bp-32bp on the 4.7 year triple-A piece, 55bp area on the 7.2 year piece rated Aa3/AA- by Fitch and Moody's, 85bp area on the 7.2 year tranche rated A2/A and 165bp area on the 7.2 year triple-B piece.

UK non-conforming mortgage lender Mortgages plc this week launched its third securitisation in the UK, a £320m issue lead managed by Barclays Capital and Lehman Brothers. Launched a week after Southern Pacific Mortgages Securities C, the deal was priced wider than expected, suggesting a level of saturation among investors.

The first publicly rated Austrian auto loan and leasing securitisation met with investor approval when Porsche Bank last Friday securitised part of its loan and lease book. Few securitisations have emerged from the Austrian market, which is not as large or mature as some of its neighbours. However, Bank Austria has twice completed a CBO out of its UK operations, indicating that the Austrian banking regulator is comfortable with the ideaof securitisation.

Iberian consumer ABS deals were vying for attention in the market this week as BNP Paribas and Banco Finantia launched the Eu202m LTR Finance No 3 plc 24 hours after Deutsche Bank's Nova2 Finance. But officials believe that LTR's mixed portfolio achieved a better result, coming at the same price as the earlier deal, despite Nova's shorter average life.

Banco Comercial Português (BCP), one of Portugal's first private banks, returned to its Nova securitisation programme this week launching a Eu352m deal backed by unsecured consumer loans originated through its Novarede division. "We have been using securitisation as a means of funding since 1998, and following good performance levels in our first consumer loan deal decided to return to the market," said an official at BCP.

Merrill Lynch Asset Managers (MLAM) this week launched its first collateralised debt obligation, offering a Eu235.9m bond backed by predominantly high yield debt and investment grade bonds. Lead managed by Merrill Lynch, the deal is the latest in a string of CDOs to be launched this year despite the deteriorating credit climate and the downgrades of many CDOs launched several years ago.

Euro Capital Structures, the Dublin based securitisation and leveraged loan boutique owned by Fiat and UniCredito, this week launched the second arbitrage CLO from its Harbourmaster programme - a Eu703.5m securitisation backed entirely by leveraged loans. Lead manged by Credit Suisse First Boston and UniCredit Banca Mobiliare, the deal matched early price talk and was increased in size from Eu603m to meet investor demand.

Baden-Württembergische Bank AG last Friday launched the fifth deal from the Promise securitisation programme set up by government agency Kreditanstalt für Wiederaufbau (KfW), which securitises loans to small and medium sized corporates (Mittelstands) in Germany. Lead managed by Deutsche Bank, this deal is the first time Baden-Württembergische Bank has used the programme since it was set up a year ago.

Diners Club Europe this week launched the first pan-European charge and credit card receivable backed securitisation. Lead managed by Schroder Salomon Smith Barney, the Eu339.4m deal is just the start of a Eu2bn securitisation programme started in January to provide funding for the group's further expansion in Europe.

Fortis Bank Nederland has brought a Eu1.3bn synthetic collateralised loan obligation to the market through Dutch Care 2001-1 BV, the first deal backed by loans to the Dutch public healthcare sector, attracting investors as far away as the Middle East. Lead managed by Bear Stearns and Fortis Bank, the deal is unusual. Backed by loans to just one industry, it is difficult to compare to other synthetic CLOs. Other healthcare deals have used a whole business structure, such as the £975m deal from General Healthcare Group, the UK's leading provider of private hospitals, in July.

Morgan Stanley, RBS Financial Markets and Schroder Salomon Smith Barney have begun marketing an £825m securitisation for British Land backed by the cash- flows and assets of Meadowhall Regional Shopping Centre in Sheffield. The deal follows the template set by the £610m securitisation of the Trafford Centre in Manchester, Europe's first commercial retail securitisation, launched via Deutsche Bank and RBS Financial Markets in 2000.

The $275 million bank deal for CommScope led by CIBC World Markets and Citibank has been nixed after investors refused to bite on the richly priced and discounted "B" term loan and the company reworked its' acquisition plans. Phil Armstrong, director of investor relations for CommScope, would not confirm the bank deal has been cancelled, but said difficulties in the financing market were among a list of reasons why CommScope is scaling back its investment in Lucent Technologies fiber-optic cable business. As part of the new joint venture CommScope is investing $203 million in cash and equity to buy the business and Furukawa Electric will pay over $2 billion in cash. A source familiar with the deal said the banks may come back with a rejiggered credit.