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NM Rothschild & Sons closed its first European securitisation this week, six months after founding a team in London - the bank structured a £41m bond parcelling UK auto loans for Benton Finance Ltd, a specialist finance company. "Our plan is to reproduce the success we have had in the US market in helping small and medium sized independent finance companies to access the securitisation market," said Charles Keay, head of London banking and treasury financial products at Rothschild. "Our leasing business, Five Arrows, gives us good contacts with this sector. We will focus on the UK until we have established critical mass."

The Del Monte Group, famous for its orange juice, this week launched a Eu60m securitisation of its revenues from European sales of beverages, canned fruit and vegetables and juice concentrates. Bonds backed by trade receivables are rare - the asset class is usually routed through asset backed commercial paper conduits - and in Europe most of the deals have come from food companies, notably the Italian firms Parmalat, Cirio and Cremonini. Food suppliers tend to have a well diversified customer base, and their receivables make up a large part of their assets.

Platform Home Loans, the UK sub-prime mortgage lender bought by principal finance investment adviser Cabot Square Capital in August, this week refinanced the acquisition with a £297m securitisation via Barclays Capital. The company, most recently known as The Money Store, has now resumed the name given to it by Bear Stearns, which launched the business in the mid-1990s. Since then it has been owned by Lehman Brothers, The Money Store Inc and First Union Corp.