Cooper Standard completes refinancing process

Northville, Michigan - Cooper-Standard Automotive Inc. has “successfully completed” its previously announced refinancing package, holding group Cooper-Standard Holdings Inc. announced 30 Jan.

The refinancing transactions included the issuance of a ‘concurrent notes offering’ of $580.0 million (€536 million) and an ‘exchange offer’ of around $357.4 million.

Also included was the repayment of around $319.6 million outstanding under the Cooper Standard’s existing senior term loan facility and redemption of $250.0 million in senior secured notes due 2024.

Goldman Sachs assisted as financial advisor in the process to reset the liquidity position of the US-based supplier of automotive sealing, fuel, brake and fluid-transfer systems.