Hayes Lemmerz to hit the road Tuesday with $225 million exit financing deal

By Paul A. Harris

St. Louis, May 12 - Hayes Lemmerz International, Inc. will begin the roadshow Tuesday for $225 million of senior notes due 2010 (expected ratings B1/B+), according to a syndicate source.

The deal is expected to price on May 20.

Citigroup and Lehman Brothers are joint bookrunners.

The notes will be non-callable for three years.

Proceeds from the Rule 144A deal will be used as part of the Chapter 11 exit financing.

The company is a Northville, Mich.-based auto parts supplier.

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