Hayes Lemmerz €120 million seven-year notes price talk 10¾%-11%

By Paul A. Harris

St. Louis, March 15 - HLI Operating Co. Inc. (Hayes Lemmerz International Inc.)'s €120 million offering of seven-year senior notes (B2) is talked to yield 10¾% to 11%, according to an informed source.

Pricing is expected on Wednesday.

The notes will be non-callable for four years.

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

The company is also obtaining a $450 million credit facility.

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

The prospective issuer is a Northville, Mich., manufacturer of automobile wheels.

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