Trinseo Enters into Transaction Support Agreement to Extend Debt Maturities and Increase Liquidity
Trinseo PLC Ordinary Shares (TSE)
Last trinseo plc ordinary shares earnings: 2/6 04:15 pm
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Source: Business Wire
WAYNE, Pa.--(BUSINESS WIRE)--Trinseo PLC (NYSE: TSE), 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.The transactions contemplated by the TSA include:Redeeming and refinancing the existing $115 million 2025 Senior Notes through the issuance of an incremental $115 million 2028 Refinance Term Loans, on substantially similar terms as the existing credit facility signed in September 2023.Entering into a new $300 million revolving credit fac
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