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Hayes Lemmerz exit financing bonds to come in second quarter, via Lehman, Salomon
By Paul A. Harris
St. Louis, March 25 - Hayes Lemmerz International, Inc. is expected to bring a senior notes deal during the second quarter via joint bookrunners Lehman Brothers and Salomon Smith Barney, according to an informed source.
The size of the deal as well as the maturity and structure of the bonds remain to be determined, the source said.
The deal is part of the Northville, Mich.-based auto parts supplier's exit financing from Chapter 11.
The company received a commitment of up to $550 million of exit financing from affiliates Citigroup, Inc., to support its plan of reorganization.
The confirmation hearing on the reorganization plan is set for April 9.
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