secwatch.observer — SEC 8-K summary
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Issuer:     Cooper-Standard Holdings Inc. (CPS)
CIK:        0001320461
Form:       8-K
Filed at:   2022-12-20T23:59:59+00:00
Accession:  0001320461-22-000136
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 launches $580M backstopped offering of 13.5% first lien notes; exchange for 5.625% notes
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- Issuer offers $580M of 13.50% Cash Pay/PIK Toggle First Lien Notes due 2027 to eligible holders of existing 5.625% notes.
- Existing $400M 5.625% Senior Notes due 2026 may be exchanged par-for-par for new 5.625%/10.625% PIK Toggle Third Lien Notes due 2027.
- Backstop Parties holding ~62.7% of existing notes commit to purchase any unsubscribed New First Lien Notes.
- Proceeds to prepay senior term loan, redeem existing 13.000% Senior Secured Notes due 2024, and pay fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320461/000132046122000136/0001320461-22-000136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320461/000132046122000136/cps-20221215.htm
  HTML page:      https://secwatch.observer/filing/0001320461-22-000136

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