Cooper‑Standard seeks $1.1B secured notes to extend maturities to 2031

Cooper‑Standard pursues $1.1 billion secured note sale to push out maturities

Cooper‑Standard Holdings’ wholly owned unit Cooper‑Standard Automotive Inc. intends to privately offer $1.1 billion aggregate principal amount of Senior Secured First Lien Notes due 2031, the company announces. The proposed Notes are structured as senior secured obligations of the issuer and are guaranteed on a senior secured basis by CS Intermediate HoldCo 1 LLC and certain domestic subsidiaries that currently guarantee other indebtedness. Cooper‑Standard Latin America B.V. provides an additional guarantee on a senior unsecured basis and also continues to guarantee the company’s senior asset‑based revolving credit facility.

The issuer says it plans to use the net proceeds of the offering, together with cash on hand, to redeem in full three series of outstanding debt: 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. Redemptions are intended at applicable redemption prices, including any premiums, and the company also intends to use funds to pay fees and expenses related to the new Notes offering and the redemptions.

The transaction is structured as a private placement and is subject to market and customary conditions. The Notes are offered only to “qualified institutional buyers” under Rule 144A and to non‑U.S. persons outside the United States under Regulation S, and neither the Notes nor the related guarantees are registered under the U.S. Securities Act. The company emphasizes that the announcement does not constitute an offer to sell, a solicitation to buy, a notice of redemption or a solicitation in any jurisdiction where unlawful, and any sale will comply with applicable securities laws and transfer restrictions.

Placement mechanics and buyer limits

Cooper‑Standard frames the deal as an exempt private placement rather than a public bond sale, limiting buyers to institutional investors and non‑U.S. purchasers under Reg S. The company underscores customary transfer restrictions and notes that the issuance and related guarantees are not registered in the United States.

Business rationale and sector context

The financing aims to extend maturities toward 2031 and replace several high‑coupon near‑term instruments, addressing upcoming refinancings and cash interest burdens. Cooper‑Standard, a global automotive supplier of sealing, fluid and rubber products, is executing the move amid an industry environment where suppliers manage capital intensity and liquidity to support operations and customer programs.