Cooper Standard prices $1.1 billion debt offering

Cooper Standard Holdings Inc. (NYSE: CPS) announced the pricing of $1.1 billion in aggregate principal amount of 9.250% Senior Secured First Lien Notes due 2031 through its subsidiary Cooper-Standard Automotive Inc.

The notes offering is expected to close on March 4, 2026, subject to customary closing conditions. The securities will be senior secured obligations guaranteed by CS Intermediate HoldCo 1 LLC and certain domestic subsidiaries that guarantee other company debt. Cooper-Standard Latin America B.V. will provide senior unsecured guarantees for the notes.

Cooper Standard intends to use net proceeds from the offering, along with cash on hand, to redeem all outstanding debt securities including 13.50% Cash Pay/PIK Toggle Senior Secured First Lien Notes due 2027, 5.625% Cash Pay/10.625% PIK Toggle Senior Secured Third Lien Notes due 2027, and 5.625% Senior Notes due 2026. The company will also use proceeds to pay fees and expenses related to the offering and redemptions.

The notes are being offered through a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S, pursuant to an exemption from Securities Act registration requirements.

Cooper Standard, headquartered in Northville, Michigan, operates in 20 countries as a supplier of sealing and fluid handling systems and components for transportation and industrial markets. The company employs approximately 22,000 team members including contingent workers.

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