Preparation

• Preheat oven to 350°F. Coat bottom of large shallow baking pan with 1 tablespoon of the softened butter. Using only the center-cut bread slices, arrange bread in single layer on baking pan. Brush both sides of bread with 6 tablespoons of the remaining softened butter. Bake 20 minutes or until lightly toasted, turning bread over after 10 minutes. Cool slightly.

• Meanwhile, mix water, piloncillo, orange peel, cinnamon sticks, anise seeds and cloves in heavy-bottomed 3-quart saucepan. Cook on medium heat 5 minutes, stirring to dissolve piloncillo. Bring to boil on medium-high heat. Boil 20 minutes or until syrup thinly coats a spoon. Strain and set aside.

• Coat 13x9-inch baking dish with remaining 1 tablespoon softened butter. Arrange 9 slices of bread in single layer in bottom of baking dish. Gradually pour 1/2 of the warm syrup over bread slices, allowing some of syrup to be absorbed by the bread before adding more syrup. Sprinkle 1/2 of the raisins, peanuts and cheese over top. Repeat layering with remaining bread slices, warm syrup, raisins, peanuts and cheese. Cover with foil.

• Bake 25 minutes or until bread is slightly softened and syrup is bubbling.