Hayes Lemmerz to prepay some term loan debt with asset sale proceeds

By Sara Rosenberg

New York, Oct. 20 - Hayes Lemmerz International Inc. plans to prepay some of its term loan debt using a portion of the proceeds from the $51 million sale of its Commercial Highway Hub and Brake Drum business to Precision Partners Holding Co., according to a company news release.

Remaining proceeds from the sale will be used to provide the company with additional liquidity.

The transaction is subject to closing conditions and is expected to close on or before Nov. 30.

Hayes Lemmerz is a Northville, Mich.-based supplier of automotive and commercial highway wheels, brakes, powertrain, suspension, structural and other lightweight components.

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