Hayes Lemmerz to start roadshow Thursday for €120 million seven-year notes

By Paul A. Harris

St. Louis, March 8 - HLI Operating Co. Inc. (Hayes Lemmerz International Inc.) will start a roadshow Thursday in London for its €120 million offering of seven-year senior notes, according to a market source.

The notes will be non-callable for four years.

Pricing is expected to take place on March 16.

Citigroup and Merrill Lynch & Co. will be joint bookrunners for the Rule 144A/Regulation S offering, which will have registration rights.

The notes are expected to come with high single-B ratings.

The company will also obtain a $450 million credit facility.

Proceeds will be used to repay bank debt and for general corporate purposes.

Hayes Lemmerz is a Northville, Mich., manufacturer of automobile wheels.

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