Cooper-Standard sets Tuesday bank meeting for $340 million term loan

By Paul A. Harris

Portland, Ore., Oct. 24 – Cooper-Standard Holdings Inc. plans to launch a $340 million seven-year term loan B at a bank meeting set for 12:30 p.m. ET on Tuesday, according to a market source.

Commitments are due Friday.

Deutsche Bank Securities Inc. is the left bookrunner. Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Goldman Sachs & Co. and Barclays are the joint bookrunners.

The Novi, Mich.-based supplier of systems and components for the automotive industry plans to use the proceeds, together with cash on hand, to repay its non-extended term loans outstanding under the amended and restated term loan facility.

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