Cooper Standard Further Enhances Financial Liquidity with Renewal of Revolving Credit and European Factoring Facilities
Cooper-Standard Holdings Inc. (CPS)
Last cooper-standard holdings inc. earnings: 2/24 06:47 pm
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US:NYSE Investor Relations:
ir.cooperstandard.com/investor-relations
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Source: PR Newswire
NORTHVILLE, Mich., March 26, 2020 /PRNewswire/ -- Cooper Standard (NYSE: CPS) announced today that it has further enhanced its financial liquidity position through the renewal of its asset-based revolving credit ("ABL") facility and its European receivables factoring facility. The ABL facility, which was amended on March 24, 2020, provides a line of credit of up to $180 million, subject to borrowing base availability, with maturity in March 2025. The European factoring facility, which was renewed on March 2, 2020, allows the Company to factor up to €120 million of its Euro-denominated accounts receivable, accelerating access to cash and reducing credit risk. The factoring facility expires in December 2023."We are very pleased to have renewed and extended these facilities," said Jonathan Banas, executive vice president and chief financial officer, Cooper Standard. "These steps were contemplated and initiated earlier this year as part of our ongoing liquidity and financial review proc
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CPS
Sec Filings
- 11/13/24 - Form SCHEDULE
- 11/1/24 - Form 10-Q
- 11/1/24 - Form 8-K
- CPS's page on the SEC website