The rush to close securitizations before November, when jitters surrounding Y2K worries are expected to lead to a blow-out in spreads, is likely to lead to a busy couple of months in the European structured finance market.

Deals which are expected to launch in the next two weeks include Deutsche Bank's E195 million ($208 million) deal for Spanish airline Iberia; the second Geldilux CLO from HypoVereinsbank, worth E750 million; and a E500 million social mortgage deal for Finland's Housing Fund, via Paribas and Leonia.

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