Cooper-Standard Holdings’ amended asset-based revolving Facility increases commitments by $20,000,000 to $200,000,000 and extends lender maturities to 2031. The agreement also lowers borrowing margins to ranges tied to quarterly availability and removes SOFR and CORRA Credit spread adjustments, changing the facility’s stated financing terms for investors.

Key Highlights

  • Aggregate ABL commitments increase by $20,000,000 to $200,000,000.
  • Commitment maturities under the amended facility extend to 2031.
  • Base-rate and prime-rate borrowing margins range from 50 basis points to 100 basis points, while related credit spread adjustments are removed.

Cooper-Standard Holdings Inc. (NYSE: CPS) now has aggregate asset-based revolving commitments of $200,000,000 after an increase of $20,000,000. The commitments form part of an amended facility that may allocate funding between its U.S. and Canadian components.

Amended Facility Extends Through 2031

The agreement was entered into by CS Intermediate Holdco 1 LLC, Cooper-Standard Automotive Inc. Cooper-Standard Automotive Canada Limited and other subsidiaries, together with lenders and Bank of America, N.A. acting as agent. It extends each lender’s commitment Maturity to 2031. Effectiveness required execution by the relevant Loan parties, the agent and each lender, along with specified certificates, opinions and Lien searches. The existing loan agreement and related loan documents remain in effect except for the agreed amendments.

Pricing Grid Uses Quarterly Availability

Revolving-loan pricing is tied to average quarterly availability under a grid. Borrowings using a Base Rate or prime rate carry margins ranging from 50 basis points to 100 basis points. The amendment removes credit spread adjustments for SOFR and CORRA. The stated terms therefore establish separate Margin ranges according to both the applicable borrowing benchmark and average quarterly availability.