Cooper-Standard Holdings Inc. (“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 $250.0 million in aggregate principal amount of senior secured notes due 2024 (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 each of the Issuer’s subsidiaries that are guarantors under the Issuer’s senior secured term loan facility. The Notes will also be guaranteed on a senior unsecured basis by Cooper-Standard Latin America B.V., which will also guarantee the Issuer’s senior secured term loan facility.
The Issuer intends to use the net proceeds from the Notes offering for general corporate purposes, including further increasing its liquidity.
The offering of the Notes will be made in a private transaction in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), only to “qualified institutional buyers” in accordance with Rule 144A under the Securities Act and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act.
This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Notes and the related note guarantees have not and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States to, or for the benefit of, U.S. persons except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
SOURCE: Cooper-Standard
