---
schema_version: "secwatch.filing_event.v1"
accession: "0001320461-23-000005"
form_type: "8-K"
ticker: "CPS"
cik: "0001320461"
company_name: "Cooper-Standard Holdings Inc."
filed_at: "2023-01-23T23:59:59+00:00"
generated_at: "2026-06-20T11:34:49.753442+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cooper-Standard completes $580M notes offering; 89% of 2026 notes tendered

## Summary
- Issued $580M of 13.50% Cash Pay/PIK Toggle Senior Secured First Lien Notes due 2027.
- Exchanged $357.4M (89.36%) of 5.625% Senior Notes due 2026 for new PIK Third Lien Notes due 2027.
- Received requisite consents to amend indenture, eliminating covenants and releasing CPS guarantee.
- Settlement expected Jan 27, 2023; backstop commitments cover remaining $61.7M of New First Lien Notes.
- Goldman Sachs & Co. acted as dealer manager; Houlihan Lokey advised backstop commitment parties.

## SEC filing metadata
- accession: 0001320461-23-000005
- form_type: 8-K
- ticker: CPS
- cik: 0001320461
- company_name: Cooper-Standard Holdings Inc.
- filed_at: 2023-01-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1320461/000132046123000005/0001320461-23-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1320461/000132046123000005/cps-20230118.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001320461-23-000005
- JSON: https://secwatch.observer/filing/0001320461-23-000005.json
- Plain text: https://secwatch.observer/filing/0001320461-23-000005.txt

## Key facts
- Material Agreements
  Cooper-Standard Holdings Inc. amended first supplemental indenture to 5.625% Senior Notes due 2026 with U.S. Bank Trust Company, National Association valued at Amendments to eliminate substantially all covenants, certain events of default and other provisions; (effective 2023-01-23).
  - Action: amendment
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: Amendments to eliminate substantially all covenants, certain events of default and other provisions;
  - Effective: 2023-01-23
  source text: the guarantors named therein and U.S. Bank Trust Company, National Association (successor in interest to U.S. Bank National Association), as trustee, entered into a first supplemental indenture (the “Supplemental Indenture”) to the indenture governing CSA’s existing 5.625% Senior Notes due 2026 (the “2026 Senior Notes”) to eliminate substantially all of the covenants, certain events of default and certain other provisions contained in the 2026 Senior Notes and the indenture governing the 2026 Senior Notes and to release and discharge the guarantee of the 2026 Senior Notes by the Company (collectively, the “Amendments”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1320461/000132046123000005/0001320461-23-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.