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COOPER-STANDARD HOLDINGS INC. FILES (8-K) Disclosing Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

June 12, 2014



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

On June 11, 2014, Cooper Standard Automotive Inc. (the "Company"), certain of its subsidiaries, Bank of America, N.A., as agent, the lenders and other parties thereto entered into the Amendment No. 1 to Second Amended and Restated Loan Agreement, which amendment increased aggregate lender commitments under the Company's existing asset-based revolving credit facility (the "ABL Facility") from $150,000,000 to $180,000,000, and implemented several related administrative and conforming changes to the ABL Facility. The amended ABL Facility also provides for an uncommitted $75,000,000 incremental loan facility, for a potential total ABL Facility of $255,000,000 (if any such incremental is requested by the Company and applicable commitments are obtained). As of June 11, 2014, subject to borrowing base availability, the Company had $180,000,000 in total committed worldwide availability under the ABL Facility, less outstanding letters of credit of approximately $37,000,000.


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Source: Edgar Glimpses


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