debt
confidence high
sentiment neutral
materiality 0.70
Cooper-Standard subsidiary proposes $1.1B notes offering to refinance existing debt
Cooper-Standard Holdings Inc.
- Offering of $1.1B senior secured first lien notes due 2031 by Cooper-Standard Automotive Inc.
- Proceeds plus cash to redeem outstanding 13.5% First Lien, 5.625%/10.625% PIK Third Lien, and 5.625% Unsecured notes.
- Redemption prices: Existing First Lien at 102.25%, Third Lien at 101.41%, Unsecured at 100%, plus accrued interest.
- Redemption conditional on closing of new notes; target redemption date March 4, 2026.
- Notes offered only to QIBs under Rule 144A and non-U.S. persons per Reg S; not registered.