Hayes Lemmerz raises pricing on $150 million term loan to Libor plus 950 bps

By Sara Rosenberg

New York, Dec. 11 - Hayes Lemmerz International Inc. flexed pricing higher on its $150 million term loan to Libor plus 950 basis points from Libor plus 800 bps, according to a market source.

In addition, the original issue discount was set at 96, the wide end of initial guidance that was in the 96 to 97 context, the source said.

The term loan has a 2% Libor floor.

Deutsche Bank is the lead bank on the deal.

Proceeds will be used for exit financing.

Hayes Lemmerz is a Northville, Mich.-based maker of automotive and commercial highway wheels.

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