Simpson Thacher represented Cooper-Standard Automotive Inc. (“Cooper-Standard”) in connection with the Rule 144A/Regulation S offering of $250 million in aggregate principal amount of 13% Senior Secured Notes due 2024. Cooper-Standard intends to use the net proceeds from the offering for general corporate purposes, including further increasing its liquidity.
Cooper-Standard, headquartered in Northville, Michigan, is a leading global supplier of systems and components for the automotive industry. Products include sealing, fuel and brake delivery, and fluid transfer systems. Cooper Standard employs approximately 28,000 people globally and operates in 21 countries around the world.
The Simpson Thacher team for the transaction included Ken Wallach, Matthew Levy, Pinto Adhola and Niyati Roy (Capital Markets); Justin Lungstrum, Robyn Cho, Callie Robins and Tommy Garber (Credit); Jonathan Pall (Collateral); Jonathan Cantor and Zachary Fialkow (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Genevieve Dorment (Intellectual Property); Timothy Mulvihill (Environmental); Krista McManus, Dennis Loiacono and Nena Burchard (Real Estate); and Karen Hsu Kelley (Public Company Advisory Practice).