Cooper-Standard Pursues $1.1B Senior Secured First-Lien Notes Due 2031 to Refinance Debt

CooperStandard Pursues $1.1 Billion Secured Notes

Cooper-Standard Holdings Inc. is moving to refinance near-term debt by privately offering $1.1 billion aggregate principal amount of Senior Secured First Lien Notes due 2031 through its wholly owned subsidiary Cooper‑Standard Automotive Inc., the company says. The new Notes are described as senior secured obligations of the issuer and will be guaranteed on a senior secured basis by CS Intermediate HoldCo 1 LLC and certain domestic subsidiaries that already guarantee other indebtedness. Cooper‑Standard Latin America B.V. is providing a senior unsecured guarantee and also continues to guarantee the company’s senior asset‑based revolving credit facility.

The company intends to use the net proceeds of the offering, together with cash on hand, to redeem in full multiple outstanding instruments that carry higher near‑term cash or PIK interest burdens. Targets for redemption include its 13.50% Cash Pay/PIK Toggle Senior Secured First Lien Notes due 2027, its 5.625% Cash Pay/10.625% PIK Toggle Senior Secured Third Lien Notes due 2027, and its 5.625% Senior Notes due 2026, at applicable redemption prices and any premiums. Cooper‑Standard also plans to use funds to pay fees and expenses related to the new Notes offering and the redemptions, subject to market and customary closing conditions.

The Notes are offered only in a private placement exempt from registration under the U.S. Securities Act of 1933, available to “qualified institutional buyers” under Rule 144A and to non‑U.S. persons outside the United States under Regulation S, the company states. The offering is not registered with U.S. or state securities regulators, and the Notes and related guarantees may not be offered or sold in the United States to or for the benefit of U.S. persons except pursuant to an applicable exemption, the filing cautions.

Refinancing aims to extend maturities and address high interest profile

By replacing several instruments maturing in 2026–2027 with a single secured issue that matures in 2031, Cooper‑Standard seeks to lengthen its debt maturity profile and remove or reduce exposure to near‑term PIK toggle and high‑coupon obligations. Management frames the move as improving liquidity flexibility, though completion remains subject to market conditions and investor demand.

Placement mechanics and regulatory caveats

The company emphasizes that the release does not constitute an offer to sell or a solicitation to buy in jurisdictions where such activity is unlawful, and any sale will comply with applicable securities laws and transfer restrictions on purchasers.