Hayes Lemmerz $225 million seven-year notes talked at 10½%-10¾%, pricing Thursday

By Paul A. Harris

St. Louis, May 20 - Official price talk of 10½%-10¾% was heard Tuesday on Hayes Lemmerz International, Inc.'s offering of $225 million seven-year senior notes (B1/B+), according to a syndicate source.

The deal is expected to price on Thursday.

Citigroup and Lehman Brothers are joint bookrunners.

The Rule 144A notes are non-callable for three years.

Proceeds will be used as part of the company's Chapter 11 exit financing.

Hayes Lemmerz is a Northville, Mich.-based auto parts supplier.

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