CooperStandard Holdings Refinances to Extend Debt Runway with $1.1B 9.25% Notes Due 2031

Refinancing push extends CooperStandard’s debt runway

CooperStandard Holdings is executing a material refinancing of its debt, announcing that subsidiary Cooper‑Standard Automotive Inc. is pricing a private offering of $1.1 billion aggregate principal amount of 9.250% Senior Secured First Lien Notes due 2031. The notes are structured as senior secured obligations of the issuer and carry a fixed coupon of 9.25% with a five‑year-plus maturity, marking a significant extension of the company’s secured debt tenor compared with several nearer‑term instruments on its balance sheet.

The company states it intends to use the net proceeds, together with cash on hand, to redeem all of its outstanding 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, including applicable premiums and related fees and expenses. By retiring those 2026‑2027 maturities, CooperStandard effectively consolidates multiple higher‑cost instruments into a single secured facility that matures in 2031.

Management positions the transaction as a balance‑sheet move to simplify debt structure and address near‑term maturities. The new notes are secured and guaranteed in ways that mirror existing debt covenants, and the offering is expected to close on March 4, 2026, subject to customary closing conditions. The company presents the refinancing as a targeted liquidity and maturity management action rather than an operational change.

Sale mechanics and investor scope

The notes are offered privately under exemptions from registration — to “qualified institutional buyers” under Rule 144A and to non‑U.S. persons outside the United States under Regulation S. CooperStandard notes that the securities and guarantees are not registered under the U.S. Securities Act and may not be offered or sold in the United States to U.S. persons absent an applicable exemption.

Guarantors and legal disclaimers

The debt will be guaranteed on a senior secured basis by CS Intermediate HoldCo 1 LLC and certain of the issuer’s domestic subsidiaries that already guarantee other indebtedness, and on a senior unsecured basis by Cooper‑Standard Latin America B.V., which also supports the company’s asset‑based revolving credit facility. The company emphasizes that the press release does not constitute an offer to sell or a solicitation to buy securities.