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Cooper Standard Announces Proposed Private Offering of $1.1 Billion of Senior Secured First Lien Notes
Cooper-Standard Holdings Inc. (NYSE: CPS) ("Cooper Standard," "Company" or "we") today announced that its wholly-owned subsidiary, Cooper-Standard Automotive Inc. (the "Issuer"), intends, subject to market and other customary conditions, to offer $1.1 billion in aggregate principal amount of Senior Secured First Lien Notes due 2031 (the "Notes") in a private offering. The Notes will be the senior secured obligations of, and will be guaranteed on a senior secured basis by, CS Intermediate HoldCo
About this update from Cooper-standard Holdings Inc.
[{"type":"text","content":"NORTHVILLE, Mich., Feb. 17, 2026 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) ("Cooper Standard," "Company" or "we") today announced that its wholly-owned subsidiary, Cooper-Standard Automotive Inc. (the "Issuer"), intends, subject to market and other customary conditions, to offer $1.1 billion in aggregate principal amount of Senior Secured First Lien Notes due 2031 (the "Notes") in a private offering. The Notes will be the senior secured obligations of, and will be guaranteed on a senior secured basis by, CS Intermediate HoldCo 1 LLC and certain of the Issuer's domestic subsidiaries that guarantee certain other indebtedness. The Notes will also be guaranteed on a senior unsecured basis by Cooper-Standard Latin America B.V., which also guarantees the Issuer's senior asset-based revolving credit facility.","length":892,"tagName":"p"},{"type":"image","alt":"Cooper Standard (PRNewsfoto/Cooper Standard)","displaySize":"","headline":null,"caption":"Cooper Standard (PRNewsfoto/Cooper Standard)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":225,"url":"https://media.zenfs.com/en/prnewswire.com/a774c93b44f11b86a13997937fb66f4b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/GXz1IMl7Fk.la3ivU3DAkA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM5NztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/a774c93b44f11b86a13997937fb66f4b","width":400,"height":225}},"href":"https://mma.prnewswire.com/media/2044542/Cooper_Standard_Logo_5_3_23_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Issuer intends to use the net proceeds from the Notes offering, together with cash on hand, to (i) redeem all of its existing and outstanding 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 at the applicable redemption prices including premiums, if any (collectively, the "Redemptions"); and (ii) pay fees and expenses related to the Notes offering and the Redemptions.","length":517,"tagName":"p"},{"type":"text","content":"The Notes are being offered and issued pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities ...