secwatch.observer — SEC 8-K summary
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Issuer:     Cooper-Standard Holdings Inc. (CPS)
CIK:        0001320461
Form:       8-K
Filed at:   2022-11-15T23:59:59+00:00
Accession:  0001320461-22-000128
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cooper-Standard signs TSA for $580M 13.5% new notes and exchange offer to refinance debt
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- TSA with holders of 62.7% of $400M 5.625% Senior Notes due 2026 to support refinancing.
- Company to offer $580M 13.50% Cash Pay/PIK Toggle Senior Secured First Lien Notes due 2027.
- Exchange offer for remaining $400M 2026 notes into 5.625%/10.625% PIK Toggle Senior Secured Notes due 2027.
- Proceeds used to prepay term loan and redeem 13.000% Senior Secured Notes due 2024.
- Consent solicitation to remove substantially all covenants from 2026 notes indenture.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320461/000132046122000128/0001320461-22-000128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320461/000132046122000128/cps-20221115.htm
  HTML page:      https://secwatch.observer/filing/0001320461-22-000128

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