Hayes Lemmerz Announces Expiration of Tender Offer for 10 1/2% Senior Notes Due 2010
June 06 2007 - 5:59PM
PR Newswire (US)
NORTHVILLE, Mich., June 6 /PRNewswire-FirstCall/ -- Hayes Lemmerz
International, Inc. (the "Company") (NASDAQ:HAYZ) announced today
the expiration of the previously announced cash tender offer and
consent solicitation of its indirect subsidiary, HLI Operating
Company, Inc. ("HLI") for any and all of the outstanding 10 1/2%
Senior Notes Due 2010 (CUSIP No. 404216AB9) (the "Notes") of HLI.
The tender offer and consent solicitation for the Notes expired at
11:59 p.m., New York City time, on June 5, 2007 (the "Expiration
Date"). As of the Expiration Date, HLI had received tenders with
respect to $154,238,000 in aggregate principal amount of the Notes
(approximately 97.9% of the outstanding aggregate principal amount
of the Notes) pursuant to HLI's Offer to Purchase and Consent
Solicitation Statement, dated May 8, 2007 (the "Offer to
Purchase"), and the related Letter of Transmittal and Consent for
Tender Offer. HLI accepted for payment and paid for $154,178,000 in
aggregate principal amount of such Notes on May 30, 2007. HLI
expects to accept for payment and pay for the remaining Notes
validly tendered prior to the Expiration Date on or about June 7,
2007. HLI intends to redeem the remaining $3,262,000 in aggregate
principal amount of outstanding Notes that were not tendered by the
Expiration Date prior to their maturity. This press release shall
not constitute an offer to purchase, a solicitation of an offer to
sell, or a solicitation of consents with respect to the Notes. The
tender offer and consent solicitation were made solely by means of
the Offer to Purchase and the related Letter of Transmittal and
Consent for Tender Offer. Hayes Lemmerz International, Inc. is a
leading global supplier of automotive and commercial highway
wheels, brakes and powertrain components. The Company has 30
facilities and approximately 8,500 employees worldwide.
Forward-looking Statements The information contained in this press
release contains forward-looking statements which are subject to
uncertainties that could cause actual future events and results of
the Company and HLI to differ materially from those expressed in
the forward-looking statements. These forward-looking statements
are based on estimates, projections, beliefs, and assumptions that
the Company and HLI believe are reasonable but are not guarantees
of future events and results. Actual future events and results of
the Company and HLI may differ materially from those expressed in
these forward-looking statements. There can be no assurance that
any forward-looking statements will be realized. Factors that may
cause actual results to differ materially from those contemplated
by such forward looking statements include, among others, the risks
described in the Company's and HLI's most recent Annual Report on
Form 10-K and the Company's and HLI's other reports filed with the
SEC. All such forward-looking statements speak only as of the date
hereof. Although the Company and HLI believe the expectations
reflected in the forward-looking statements at the time they are
made are reasonable, the Company and HLI cannot guarantee future
results, levels of activity, performance, or achievements.
Moreover, neither the Company, HLI, nor any other person assumes
responsibility for the accuracy and completeness of any of these
forward-looking statements. The Company and HLI undertake no duty
or obligation to publicly update or revise the information
contained in this press release, although they may do so from time
to time as they believe is warranted. Any such updating may be made
through the filing of other reports or documents with the SEC,
through press releases or through other public disclosures.
DATASOURCE: Hayes Lemmerz International, Inc. CONTACT: Marika
Diamond of Hayes Lemmerz International, Inc., +1-734-737-5162 Web
site: http://www.hayes-lemmerz.com/
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