Cooper-Standard Creditors Organize As Maturities Loom (Correct)

A group of Cooper-Standard Holdings Inc. debt holders are working with Evercore Inc. and Gibson Dunn & Crutcher as the auto parts maker confronts supply chain bottlenecks and prepares to deal with upcoming debt maturities.

The group organized ahead of potential debt-repayment talks and wants to see the company refinance its loan due in 2023 and notes due in 2024 simultaneously, the people said.

Cooper-Standard’s Chief Financial Officer Jon Banas said during the company’s earnings call in February that it will likely seek to refinance its term loan B, which is due in November 2023.

Representatives at Cooper-Standard didn’t respond ...