Hayes Lemmerz receives lender approval for conduit

Hayes Lemmerz International, Inc. recently obtained approval from senior secured term lenders to amend its credit agreement allowing the company to establish a securitization program totaling up to $100 million. Although the company expects to finalize the securitization program prior to year-end, there was no certainty as to if or when the program would be completed, or which underwriter was arranging the facility.