secwatch.observer — SEC 8-K summary
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Issuer:     Cooper-Standard Holdings Inc. (CPS)
CIK:        0001320461
Form:       8-K
Filed at:   2023-01-30T23:59:59+00:00
Accession:  0001320461-23-000011
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cooper-Standard completes debt refinancing: $580M new first lien notes, repays $319.6M term loan and $250M 2024 notes
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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 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320461/000132046123000011/0001320461-23-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320461/000132046123000011/cps-20230127.htm
  HTML page:      https://secwatch.observer/filing/0001320461-23-000011

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