GERMANY: Hayes Lemmersz subsidiary sells accounts receivable portfolio
Hayes Lemmerz International subsidiary, Hayes Lemmerz Werke GmbH, has established a German accounts receivable purchase programme with MHB Financial Services GmbH & Co.
Hayes Lemmerz International subsidiary, Hayes Lemmerz Werke GmbH, has established a German accounts receivable purchase programme with MHB Financial Services GmbH & Co.
The new facility, which is available immediately, provides up to €20 million in additional liquidity and helps diversify the company’s funding sources.
Proceeds of the programme are expected to be used for general corporate purposes, the company said in a statement.
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