Hayes Lemmerz subsidiary loan-only CDS auction scheduled for June 9

By Angela McDaniels

Tacoma, Wash., May 18 - Creditex and Markit said the auction to settle loan-only credit default swap transactions referencing Hayes Lemmerz International, Inc. subsidiary HLI Operating Co., Inc. will be held June 9.

As previously reported, LCDX dealers voted to hold the auction after Hayes Lemmerz made a pre-packaged Chapter 11 bankruptcy filing May 11 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 09-11655.

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

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