Hayes Lemmerz gets $550 mln Chap 11 exit financing

Newswire

NORTHVILLE, Mich., March 21 (Reuters) - Automotive parts maker Hayes Lemmerz International Inc. said it has received a commitment of up to $550 million of bankruptcy exit financing from affiliates of Citigroup Inc. The Northville, Michigan-based company said the financing includes $450 million to be paid to its pre-Chapter 11 secured creditors, and the balance to help run its day-to-day operations. It said it also plans to privately sell an unspecified amount of senior notes. Hayes ...

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