In spite of a relatively quiet start to October in the European market, the work going on behind the scenes has created an expanding pipeline of deals that suggest the next few months will be busy for ABS professionals.

One deal expected to launch soon is the securitization of income earned from a portfolio of theatres owned by Andrew Lloyd Webber's Really Useful Theatre Group. Called, unsurprisingly, Really Useful Theatres Limited, the GBP84 million ($121.9 million) transaction will be backed by the revenues of 13 theatres, including the London Palladium. Schroder Salomon Smith Barney and Chase Manhattan International will act as joint lead managers.

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