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Cooper-Standard extends $200M credit line to 2031

CPS amends its asset-based lending facility, adding $20 million of commitments, extending maturity to 2031, and lowering borrowing margins.

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Cooper-Standard Holdings Inc. (CPS) reports that certain subsidiaries entered into a Sixth Amendment to its Third Amended and Restated Loan Agreement, creating an Amended ABL Facility with an aggregate total commitment of $200 million.

The amendment increases commitments by $20 million, extends the maturity date of the asset-based revolver to September 3, 2031, reduces interest margins on borrowings tied to SOFR, CORRA, base rate, or prime rate to grid-based ranges, and removes the SOFR and CORRA credit spread adjustments.

Positive

  • None.

Negative

  • None.

Filing Explained

The September 3 amendment closed the amended ABL facility, raising its aggregate commitment to $200 million and extending lender commitments through September 3, 2031; this establishes borrowing capacity, not reported cash proceeds or a stated amount drawn.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Increase in ABL commitments $20,000,000 Incremental aggregate principal amount added by the Sixth Amendment
Total ABL commitments $200,000,000 Aggregate total commitment amount under the Amended ABL Facility
Maturity date September 3, 2031 New maturity date for each lender’s commitments under the Amended ABL Facility
SOFR/CORRA margin range 150–200 basis points Revolving loan margins based on SOFR or CORRA, tied to availability grid
Base/prime margin range 50–100 basis points Revolving loan margins based on a base rate or prime rate, tied to availability grid
Amended ABL Facility financial
"as amended, the “Amended ABL Facility”"
Secured Overnight Financing Rate (SOFR) financial
"borrowings bearing interest based on the Secured Overnight Financing Rate (SOFR)"
A secured overnight financing rate (SOFR) is the interest rate on very short, one‑day loans that are backed by high‑quality collateral (like government bonds), so lenders face less risk. Investors care because SOFR is a widely used benchmark that sets the cost of borrowing and the pricing of loans, bonds and derivatives; think of it as a trusted yardstick for short‑term interest costs that influences returns and valuations across markets.
Canadian Overnight Repo Rate Average (CORRA) financial
"borrowings bearing interest based on the Secured Overnight Financing Rate (SOFR), the Canadian Overnight Repo Rate Average (CORRA)"
credit spread adjustments financial
"Remove the credit spread adjustments with respect to SOFR and CORRA"
average quarterly availability financial
"loans are priced by reference to a grid based on the average quarterly availability"

FAQ

What change did CPS make to its credit facility in this 8-K filing?
Cooper-Standard Holdings Inc. amended its asset-based lending agreement through a Sixth Amendment, increasing total lender commitments to $200 million, extending the facility’s maturity to September 3, 2031, lowering interest margins, and removing SOFR and CORRA credit spread adjustments.

By how much did CPS increase the ABL commitments in the amended facility?
The commitments under the Amended ABL Facility were increased by an aggregate principal amount of $20,000,000, bringing the aggregate total commitment to $200,000,000. These commitments may be allocated between the U.S. and Canadian facility amounts under the agreement’s terms.

What is the new maturity date of CPS’s Amended ABL Facility (CPS)?
The maturity date of the commitments under Cooper-Standard’s Amended ABL Facility for each lender was extended to September 3, 2031, replacing the prior maturity date under the Existing Loan Agreement.

How are interest margins structured under CPS’s amended ABL facility?
Revolving loans are now priced on a grid based on average quarterly availability, with margins of 150–200 bps for SOFR or CORRA-based borrowings and 50–100 bps for base rate or prime rate borrowings, reflecting reduced applicable margins compared with the prior agreement.

What happened to SOFR and CORRA credit spread adjustments in CPS’s amended facility?
The Sixth Amendment removed the credit spread adjustments previously applied to SOFR and CORRA borrowings under the asset-based lending facility, changing how interest is calculated on those benchmark rates.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) – September 3, 2026
 
COOPER-STANDARD HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Delaware001-3612720-1945088
(State or other jurisdiction
 of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
 
40300 Traditions Drive,
Northville
Michigan
48168
(Address of principal executive offices)
(Zip code)

Registrant’s telephone number, including area code (248) 596-5900 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.001 per shareCPSNew York Stock Exchange
Preferred Stock Purchase Rights-New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐






Item 1.01 Entry Into a Material Definitive Agreement.

Amendment to ABL Agreement

On September 3, 2026, certain subsidiaries of Cooper-Standard Holdings Inc. (the “Company”), namely CS Intermediate Holdco 1 LLC (“Holdings”), Cooper-Standard Automotive Inc. (the “U.S. Borrower”), Cooper-Standard Automotive Canada Limited (the “Canadian Borrower”), and certain other subsidiaries of the U.S. Borrower, entered into Amendment No. 6 (the “Sixth Amendment”) to the Third Amended and Restated Loan Agreement (as in effect immediately prior to the Sixth Amendment, the “Existing Loan Agreement”, and as amended, the “Amended ABL Facility”) with certain lenders, Bank of America, N.A., as agent, and the other parties thereto.

    Upon the closing of the Sixth Amendment, the Sixth Amendment amended the Existing Loan Agreement to, among other things:

•Increase the commitments by an aggregate principal amount of $20,000,000 (for an aggregate total commitment amount of $200,000,000), which commitments may, pursuant to the terms of the Amended ABL Facility, be allocated between the U.S. facility amount and Canadian facility amount;
•Extend the maturity date of the commitments under the Amended ABL Facility for each lender to September 3, 2031;
•Decrease the applicable margin for borrowings bearing interest based on the Secured Overnight Financing Rate (SOFR), the Canadian Overnight Repo Rate Average (CORRA), a base rate or a prime rate, such that revolving loans are priced by reference to a grid based on the average quarterly availability, with the margins ranging from 150 basis points to 200 basis points (for borrowings bearing interest based on SOFR or CORRA) and 50 basis points to 100 basis points (for borrowings bearing interest based on a base rate or prime rate); and
•Remove the credit spread adjustments with respect to SOFR and CORRA.

The foregoing description of the Sixth Amendment is not complete and is qualified in its entirety by reference to the full text of the Sixth Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01    Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are furnished pursuant to Item 9.01 of Form 8-K:

Exhibit 10.1    Sixth Amendment, dated as of September 3, 2026, to the Third Amended and Restated Loan Agreement, among CS Intermediate Holdco 1 LLC, Cooper-Standard Automotive Inc., Cooper-Standard Automotive Canada Limited, Cooper-Standard Automotive International Holdings B.V., certain subsidiaries of Cooper-Standard Automotive Inc., the lenders party thereto and Bank of America, N.A. as agent for such lenders.
    Exhibit 104        The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.








SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Cooper-Standard Holdings Inc.
 
/S/ MARYANN PETERSON KANARY
Name:MaryAnn Peterson Kanary
Title:
Senior Vice President, Chief Legal Officer and Secretary
Date: September 10, 2026



Source: View Original Filing on SEC EDGAR

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