Simpson Thacher represented Cooper-Standard Automotive Inc. (“Cooper Standard”) in connection with the Rule 144A and Regulation S offering of $400 million aggregate principal amount of its 5.625% senior notes due 2026. Concurrently with the notes offering, Simpson Thacher also represented Cooper Standard in connection with the amendment of its term loan facility to, among other things, extend the maturity of a portion of the term loan facility and to modify certain terms and covenants applicable to the term loan facility.
Cooper Standard used the proceeds from the notes offering to repay $395 million aggregate principal amount of non-extended term loans under the term loan facility and to pay fees and expenses related to such repayment, the notes offering and the amendment and restatement of its term loan facility.
Cooper Standard is a leading manufacturer of sealing, fuel and brake delivery, fluid transfer and anti-vibration systems. Cooper Standard’s products are primarily used in passenger vehicles and light trucks that are manufactured by global automotive original equipment manufacturers and replacement autoparts markets.
The Simpson Thacher team included Kenneth Wallach, Sunny Cheong, Clark Warthen and Alvin Kwong (Capital Markets); Justin Lungstrum, Makiko Harunari and Alejandro Mila Valle (Banking and Credit); Jon Cantor, Taylor Weinstein and William Smolinski (Tax); Jamin Koslowe and Monisha Bhayana (Executive Compensation and Employee Benefits); Krista McManus and Dennis Loiacono (Real Estate); and Genevieve Dorment (Intellectual Property).