Cooper-Standard Automotive Completes Chapter 11 Exit Financing
Date: 05/26/10
Cahill represented Deutsche Bank Securities Inc., Banc of America Securities LLC, Barclays Capital Inc. and UBS Securities LLC as initial purchasers in connection with Cooper-Standard Automotive's offering of $450,000,000 8 1/2% Senior Notes due 2018. Following satisfaction of escrow conditions related to Cooper-Standard Automotive's plan of reorganization under Chapter 11, the proceeds from the sale of the Senior Notes, together with an asset-based lending facility and a rights offering, were used to pay certain existing debt and other obligations of Cooper-Standard Automotive's, including its debtor-in-possession credit facilities.