secwatch.observer — SEC 8-K summary
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Issuer:     Cooper-Standard Holdings Inc. (CPS)
CIK:        0001320461
Form:       8-K
Filed at:   2023-01-23T23:59:59+00:00
Accession:  0001320461-23-000005
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320461/000132046123000005/0001320461-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320461/000132046123000005/cps-20230118.htm
  HTML page:      https://secwatch.observer/filing/0001320461-23-000005

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