Business Context and Reporting Period
Company: Cooper-Standard Holdings Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: September 3, 2026
Event: Entry into a Material Definitive Agreement (Amendment No. 6 to the Asset-Based Lending Facility).
Key Financial Metrics and Debt Structure
This filing details a restructuring of the Company's revolving credit facility rather than reporting operational financial results (revenue, profit, or cash flow). Key debt metrics updated include:
- Total Commitment Amount: Increased to $200,000,000 (an increase of $20,000,000).
- Maturity Date: Extended to September 3, 2031.
- Interest Rate Margins (SOFR/CORRA): Reduced to a range of 150 to 200 basis points based on average quarterly availability.
- Interest Rate Margins (Base/Prime Rate): Reduced to a range of 50 to 100 basis points.
- Spread Adjustments: Credit spread adjustments for SOFR and CORRA have been removed.
Material Changes Versus Prior Period
Compared to the Existing Loan Agreement immediately prior to this amendment:
- Capacity: Aggregate principal commitments increased by $20 million.
- Term: The facility maturity was extended by five years (from the previous maturity date to 2031).
- Cost of Borrowing: Applicable margins for borrowings were decreased, and credit spread adjustments were eliminated, resulting in a lower cost of capital for the Company.
Management Commentary, Risks, and Unusual Items
Management Commentary: The Company entered into the Sixth Amendment to enhance liquidity flexibility and reduce borrowing costs. The amendment allows for allocation of the increased commitment between U.S. and Canadian facilities.
Risks and Contingencies: The filing notes that the description of the amendment is qualified in its entirety by the full text of the agreement (Exhibit 10.1). No specific new risks or unusual items were disclosed in the summary text of this 8-K.
Guidance: The filing text does not provide updated financial guidance or outlook.
Investor Verification Checklist
- Verify the exact allocation of the $200 million commitment between the U.S. and Canadian facilities.
- Review Exhibit 10.1 for specific covenants, financial maintenance requirements, and conditions precedent.
- Confirm the current outstanding balance under the facility to assess the utilization rate against the new $200 million cap.
- Check subsequent filings for any changes in the Company's leverage ratios resulting from this amendment.