8-K
filed January 30, 2023, 6:59 PM ET
ticker CPS
CIK 0001320461
debt
confidence high
sentiment positive
materiality 0.65
Cooper-Standard Holdings Inc. (CPS): debt financing — Cooper-Standard completes debt refinancing: $580M new first lien notes, repays $319.6M term loan and $250M 2024 notes
Cooper-Standard Holdings Inc.
- 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 5.625%/10.625% PIK Toggle Third Lien Notes due 2027.
- Prepaid and terminated $319.6M senior term loan and redeemed all $250M of 13.000% Senior Secured Notes due 2024 at 106.5%.
- Supplemental indenture removed substantially all covenants from the 2026 Senior Notes indenture.
- ABL facility amended; Goldman Sachs acted as dealer manager and financial advisor.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Cooper-Standard Holdings Inc. incurred senior notes of $580,000,000 with U.S. Bank Trust Company, National Association at 13.50% per annum maturing March 31, 2027.
- Instrument
- senior notes
- Principal
- $580,000,000
- Counterparty
- U.S. Bank Trust Company, National Association
- Rate
- 13.50% per annum
- Maturity
- March 31, 2027
- Event
- incurrence
Exact text from the filing
On the Settlement Date, CSA issued $580,000,000 aggregate principal amount of New First Lien Notes pursuant to an indenture, dated as of the Settlement Date (the “New First Lien Notes Indenture”), by and among CSA, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee and collateral agent (the “First Lien Collateral Agent”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Cooper-Standard Holdings Inc. incurred senior notes of $357,446,000 at 5.625% Cash Pay / 10.625% PIK Toggle maturing due 2027.
- Instrument
- senior notes
- Principal
- $357,446,000
- Rate
- 5.625% Cash Pay / 10.625% PIK Toggle
- Maturity
- due 2027
- Event
- incurrence
Exact text from the filing
for $357,446,000 of CSA’s newly issued 5.625% Cash Pay / 10.625% PIK Toggle Senior Secured Third Lien Notes due 2027 (the “New Third Lien Notes”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Cooper-Standard Holdings Inc. entered into New First Lien Notes Indenture with U.S. Bank Trust Company, National Association valued at $580,000,000 (effective 2023-01-27).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- U.S. Bank Trust Company, National Association
- Value
- $580,000,000
- Effective
- 2023-01-27
Exact text from the filing
On the Settlement Date, CSA issued $580,000,000 aggregate principal amount of New First Lien Notes pursuant to an indenture, dated as of the Settlement Date (the “New First Lien Notes Indenture”), by and among CSA, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee and collateral agent
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Cooper-Standard Holdings Inc. amended Supplemental Indenture (effective 2023-01-27).
- Action
- amendment
- Agreement
- notes offering
- Effective
- 2023-01-27
Exact text from the filing
the effectiveness of a supplemental indenture (the “Supplemental Indenture”) to the 2026 Senior Notes Indenture giving effect to the Amendments
View on SEC.gov
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