Cooper-Standard Automotive to sell $450 million eight-year notes

By Paul A. Harris

St. Louis, April 21 - Cooper-Standard Automotive Inc. will start a roadshow on Thursday for its $450 million offering of eight-year senior notes, according to informed sources.

The roadshow wraps up on April 29.

Deutsche Bank Securities Inc. is the left bookrunner for the Rule 144A with registration rights offering. Bank of America Merrill Lynch, Barclays Capital Inc. and UBS Investment Bank are the joint bookrunners.

The notes come with four years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to repay the company's debtor-in-possession loan and other debt.

The Novi, Mich., manufacturer and marketer of systems and components for the automotive industry filed for bankruptcy on Aug. 3, 2009 in the U.S. Bankruptcy Court for the District of Delaware.

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