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The BBC this week launched its third securitisation shortly after the UK government published a green paper as part of its 10-yearly review of the corporation's Royal Charter. The paper confirmed that the licence fee would remain in place for the next decade. Like the BBC's first securitisation in July 2003, but unlike its last in July 2004, White City Property Finance is wrapped by MBIA."The BBC is a credit with a reasonable amount of news flow and some key events were taking place around the time of the deal," said Lisa Bartrip, a syndicate official at arranger and sole bookrunner Barclays Capital in London. "That along with favourable monoline economics meant we took the opportunity to go with the wrapped structure."

Astoria Energy will launch a refinancing for a $700 million "B" loan facility backing construction of a 1,000 MW gas-fired plant in Queens this week, according to Power Finance & Risk, an LMW sister publication.

Atkins Nutritionals' $215 million first lien dropped to the mid-70s, while the $78.5 million second lien fell into the mid-40s.

Credit Suisse First Boston and UBS are leading a repricing for Nortek, a provider of building products for residential, light commercial and commercial applications.

American Securities Capital Partners (ASCP) joined the ranks of private equity firms taking dividends as it moved last week to take approximately $47 million from Unifrax Corp., a provider of ceramic fiber insulating products.

New York-based EagleRock Capital Management has hired John Petrozzi from Goldman Sachs, where he was a senior high yield and distressed debt trader for the past six years.

Headwaters repriced its first-lien bank debt from LIBOR plus 3% to LIBOR plus 2 1/4% after the company repaid $50 million of its second-lien loan and $147 million from its first-lien tranche.

Cleco Corp. is refinancing unsecured facilities totaling $275 million via leads Bank of New York, J.P. Morgan and WestLB.

Precision Capital Advisors, a boutique formed last year by two former Deutsche Bank professionals to advise potential collateralized debt obligation investors, has branched out.

Credit Suisse Asset Management in London is ramping up its investments in asset-backed securities and has hired Ope Agbaje, director in the corporate and infrastructure team at Fitch Ratings in London, as its first dedicated ABS credit analyst.

Credit Suisse First Boston in London has hired two professionals and lost one in European leveraged finance.

A Credit Suisse First Boston government salesman has exited for Banc of America Securities, where he will assume a role in hedge fund sales.