Articles from Trinseo PLC

Trinseo PLC (NYSETSE), a specialty material solutions provider (“Trinseo” or the “Company”), today announced the expiration and final results of the previously announced private exchange offer (the “Exchange Offer”) by Trinseo Luxco Finance SPV S.à r.l. and Trinseo NA Finance SPV LLC (the “New Issuers”), pursuant to which eligible holders of outstanding 5.125% Senior Notes due 2029 (the “Existing Notes”) issued by Trinseo Holding S.à r.l., and Trinseo Materials Finance, Inc. (the “Existing Issuers”) had the opportunity to exchange their Existing Notes for new 7.625% Second Lien Secured Notes due 2029 of the New Issuers (the “New Notes”).

Trinseo PLC (NYSETSE), a specialty material solutions provider (“Trinseo” or the “Company”), today announced that its subsidiaries, Trinseo Luxco Finance SPV S.à r.l. and Trinseo NA Finance SPV LLC (the “New Issuers”), have commenced a private offer to exchange (the “Exchange Offer”) any and all of the outstanding 5.125% Senior Notes due 2029 issued by the Existing Issuers (as defined herein) (the “Existing Notes”) in exchange for new 7.625% Second Lien Senior Secured Notes due 2029 (the “New Notes”) of the New Issuers. For each $1,000 principal amount of Existing Notes validly tendered prior to the expiration of the Exchange Offer, holders will be eligible to receive $850 principal amount of New Notes. The New Notes will have a coupon of 7.625% and will mature on May 3, 2029.

Trinseo PLC (NYSETSE), a specialty material solutions provider, (“Trinseo” or the “Company”) today announced that it and certain of its subsidiaries have entered into a Transaction Support Agreement (the “TSA”) with certain holders and lenders (collectively, the “Supporting Creditors”) of Trinseo’s outstanding senior notes and term loans. Pursuant to the TSA, the Supporting Creditors have agreed to support a series of transactions to refinance near-term maturities, provide additional operating liquidity, extend the Company’s nearest debt maturity to 2028, and capture discount from an exchange of its 2029 senior notes.

Trinseo PLC (“Trinseo” or “the Company”)(NYSETSE), a specialty material solutions provider, today announced that a special purpose finance entity, Styron Receivables Funding Designated Activity Company, has entered into a $150 million non-recourse financing facility with credit funds and accounts managed by KKR, a leading global investment firm. The facility, which is collateralized by trade receivables originated by Trinseo and its subsidiaries, replaces a prior financing facility of the same size that matures in November 2025.

Trinseo PLC today provides the following update regarding the accidental release of an estimated 8,100 gallons of latex emulsion product from the Altuglas LLC manufacturing facility in Bristol, Pennsylvania.