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Fireworks Entertainment opted to establish its first syndicated bank line, a $110 million three-year revolver led by Comerica Bank, in order to move to a more stand-alone structure and diversify its funding sources, said Blake Tohana, executive v.p. Until now, the company has mostly been supported through the funds of its parent, CanWest Entertainment, and had only used single purpose project loans to fund its television and film productions. Tohana stated that in terms of the growth and development of the company, the facility would be much more effective than the project loans.

The $475 million Flexi-Van credit led by Fleet Bank and Scotia Capital hits the secondary market this week, following adjustments made to the structure ahead of closing. The $325 million revolver was downsized by $25 million to $300 million with a commensurate increase on the $100 million "B" term loan to $125 million, a banker noted. The credit refinances existing debt and backs the Kenilworth, N.J., company's $180 million acquisition of the chassis leasing businesses of GE Capital's TIP unit, he added. Pricing is LIBOR plus 21/ 4% on the three-year revolver and LIBOR plus 3% on the five-year "B" loan, with a 1/8% upfront fee on the "B."

FCE Bank, Ford Motor Co.'s European financing arm, is preparing its second securitization of auto loans this year. The size of the deal has not yet been finalized, but London-based bankers say Deutsche Bank and ABN Amro have been tapped as lead managers. Ford's last deal, which was priced in March, weighed in at E800 million. Officials at ABN and Deutsche Bank declined to comment. Asset-backed traders note there continues to be strong demand from investors for high-quality consumer paper. Consumer ABS spreads continue to tighten versus non-consumer paper and collateralized debt obligations, they add.

Greenwich Capital Markets has hired Debashis Bhattacharaya from Salomon Smith Barney to do prepayment modeling as well as to work with its collateralized mortgage obligation desk. Bhattacharaya was unavailable to comment. The slot is newly created and he will report to CMO desk chief Anilesh Ahuja, as well as mortgage-backed security head Doug Greenig. At Salomon Smith Barney, he was an adjustable-rate mortgage security analyst and reported to Lahkbir Hayre, head of quantitative fixed-income research, who did not return a phone call seeking comment.

Huntingdon Valley, Pa.-based Toll Brothers increased its revolving credit facility and term loan with the aim of establishing a strategic relationship with three new banks, according to Joel Rassman, cfo. Rassman explained that the company needs to build relationships with various banks that can offer it different products and expertise as it always seeks to raise capital to grow its business. He said Toll Brothers will seek to secure about $150-200 million from the debt capital markets next year as it expects to grow 15% in revenues next year.

Terex's proposed $210 million senior secured "C" term loan will increase the company's heavy debt load to approximately $1.47 billion, a burden that has Moody's Investors Service concerned. Citing the debt load, the company's acquisitive growth strategy and the market's sluggish heavy equipment sales, Moody's has assigned the tranche a Ba3 rating.

UBS Warburg is launching this week syndication of a $635 million bank deal for Zurich-based Centerpulse, formerly Sulzer Medica, funding the settlement of a U.S. class action suit taken by individuals affected by defective hip and knee implants. The bank debt is likely to consist of a $300 million, two-year "A" loan and a $335 million, five-year institutional piece. Both tranches will comprise U.S. and European debt, but the exact split could not be confirmed. Officials at Centerpulse in Zurich could not be reached by press time and a UBS banker declined comment.

Andy Aran, senior v.p. at Alliance Capital, has shifted from his role as head of credit research to become a portfolio manager in the firm's global bond group reporting to Doug Peebles. Aran trades places with Jack Kelley, who moves over to run credit research.

Allied Waste Industries' term loan "B" was trading roughly a point higher last week after the company announced that it would issue $250 million in senior notes and use the proceeds from the offering to pay down its term debt. A few small pieces are believed to have traded in the 98 1/2 to 99 range last week. Buyers and sellers could not be determined.

Bank of America andSalomon Smith Barney have doubled Rayovac Corp.'s E50 million European tranche following strong demand from across the Atlantic. The $375 million U.S. "B" piece has been downsized by $50 million to $325 million to make room, while pricing has also been flexed upwards 1/2%. One banker said the larger tranche in Europe would enhance liquidity and allow bigger pieces to be assigned. Following the 1/2% sweetener the U.S. "B" tranche is priced at LIBOR plus 33/ 4% with a 10 basis points up-front fee.

BNP Paribas has hired Jeff Gray to trade the short-end of the U.S. Treasury Curve. Gray was most recently at Deutsche Bank for several years, until he was released when the firm brought in John Santoro (BW, 8/11). He was not available to comment, and it could not be determined if the slot is new or if Gray is replacing someone. He will report to U.S. Treasury and agency trading desk chief, Zbignew Ryzak, who did not return a phone call seeking comment.

Wachovia Securities is reportedly in the market with a $115 million loan forPrecise Technology, a Code Hennessy & Simmons portfolio company that manufactures precision injection molds and molded plastic components. The loan includes a $35 million borrowing-base revolver and a $50 million "A" loan, priced at LIBOR plus 4%. A $30 million institutional piece has a LIBOR plus 41/ 2% spread. A Wachovia spokeswoman declined to comment on the transaction and Brian Simmons, a partner at the private-equity shop, did not return calls. The leverage levels are 2.3 times and 3.7 times, according to an official familiar with the situation.