Nursing home-backed securitizations look to be yet another non-generic asset class that the U.K. market is making its own, with the recent confirmation that health group Bupa is working with Merrill Lynch to structure a securitization backed by income from its nursing homes, in a deal worth around GBP200 million ($330 million).

The timing of the deal will depend on market conditions, but could take place before the year-end.

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