British Land, the company whose chairman John Ritblat said was the largest supermarket landlord in the UK, has launched a £575m multi-tranche bond offering with the securitisation of 35 Sainsbury supermarkets. In effect, the rental income from the supermarkets, which are owned by British Land and leased to Sainsbury, is being securitised. UBS Warburg is managing the offer. S J Berwin and Simmons & Simmons is acting for British Land. Nabarro Nathanson was also involved in some of the property work. UBS is advised by Allen & Overy. {{PROPERTY }}