Sopa (Bread Pudding)

I made this recipe Xmas 1996 and got great feedback. Taken from BHG Dec 1994. Guessing at prep time.

• Ready In: 1 hr
• Serves: 16

Ingredients

• 2  cups sugar
• 2 1⁄2 cups water
• 6  tablespoons margarine or 6  tablespoons butter
• 1 1⁄2 teaspoons ground cinnamon
• 1  teaspoon vanilla
• 10  cups  toasted & cubed  white bread
• 2  cups  shredded cheddar cheese
• 3⁄4 cup raisins
• 1⁄2 cup peanuts
•  whipped cream (optional)

Directions

1. Place sugar in 3 qt heavy saucepan.
2. Cook over med-high heat, without stirring, till sugar starts to melt.
3. Reduce heat to low; cook til sugar is golden brown, stirring frequently.
4. Remove from heat.
5. Carefully add the 2 1/2 cups water (it will splatter) Return saucepan to heat.
6. Bring to boiling, stirring to melt hardened lumps.
7. Remove from heat.
8. Stir in margarine or butter, cinnamon, and vanilla In a 3 qt rectangular baking dish layer half of the bread cubes.
9. Sprinkle half of the cheese and all of the raisins over bread cubes.
10. Top with the remaining bread cubes, remaining cheese, and nuts.
11. Pour caramelized sugar mixture over all.
12. Bake uncovered, in a 350F oven for 30 minutes or til top is golden and syrup is absorbed.
13. Serve Sopa warm with whipped cream.