Company: CPS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001320461-25-000131
Chunk: 32

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 32
---
 share amounts)

7. Debt and Other Financing

A summary of outstanding debt as of June 30, 2025 and December 31, 2024 was as follows:June 30, 2025December 31, 2024First Lien Notes$612,266 $610,955 Third Lien Notes388,914 388,169 2026 Senior Notes42,453 42,415 Finance leases18,367 18,956 Other borrowings39,243 39,772 Total debt1,101,243 1,100,267 Less: current portion(41,789)(42,428)Total long-term debt$1,059,454 $1,057,839 First Lien NotesOn January 27, 2023, the Company issued $580,000 aggregate principal amount of its 13.50% Cash Pay / PIK Toggle Senior Secured First Lien Notes due 2027 (the “First Lien Notes”). The First Lien Notes mature on March 31, 2027 and bear interest at the rate of 13.50% per annum, payable in cash semi-annually on June 15 and December 15 of each year. Interest payments commenced on June 15, 2023. For the first four interest periods, the Company had the option, at its sole discretion, to pay up to 4.50% of the interest by increasing the principal amount of the outstanding First Lien Notes or, in limited circumstances, by issuing additional First Lien Notes. As of June 30, 2025 and December 31, 2024, the outstanding aggregate carrying amounts of the First Lien Notes were $612,266 and $610,955, respectively. These balances reflect the Company’s election to pay 4.50% of the interest for the first three interest payments as payment-in-kind. The Company elected to pay the fourth interest payment, due on December 15, 2024, entirely in cash.As of June 30, 2025 and December 31, 2024, the Company had $4,407 and $5,666, respectively, of unamortized debt issuance costs, and $181 and $233, respectively, of unamortized original issue discount related to the First Lien Notes. These amounts are presented as direct deductions from the principal balance in the condensed consolidated balance sheets. Both the debt issuance costs and the original issue