**Trinseo PLC Completes Exchange Offer and Consent Solicitation** **

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Trinseo PLC recently finalized an offer made by its subsidiaries, Trinseo Luxco Finance SPV S.à r.l. and Trinseo NA Finance SPV LLC, to exchange existing 5.125% senior notes due 2029 for new 7.625% Second Lien Senior Secured Notes due 2029. In parallel, a consent solicitation was undertaken to adopt amendments to the indenture governing the existing notes. The company effectively settled the exchange offer on January 17, 2025, by transferring the acquired notes to Trinseo Holdings in lieu of the New Intercompany Loan B.

Moreover, a supplemental indenture was entered into, effecting the Proposed Amendments to the Existing 2029 Notes Indenture, enhancing flexibility by eliminating restrictive covenants and modifying existing provisions. Subsequently, new 7.625% Second Lien Senior Secured Notes were issued to the tune of approximately $379.5 million in exchange for aged notes as part of the offer.

The New 2L Notes, issued under an indenture on the Settlement Date, bear interest at 7.625% annually until the sixth semiannual interest payment date following the Settlement Date, after which the entire rate becomes payable in cash. Maturity is slated for May 3, 2029, subject to optional and mandatory redemption provisions.

The notes were brought to market under a Rule 144A offering and positioned partially towards non-U.S. entities meeting specific criteria. Detailed provisions on optional redemption at varying prices based on the timeline post-settlement have been included.

The New 2L Notes are guaranteed and secured by a collective effort involving several subsidiaries and companies under Trinseo, ensuring secured obligations on a second lien basis. The collateral securing the notes and the ranking structure were meticulously laid out in the accompanying agreement.

Furthermore, the company solidified amendments to its credit agreements, allowing for the issuance of new loans alongside other refinancing maneuvers. Notably, Trinseo proceeded with the redemption of all outstanding 5.375% senior notes due in 2025 using funds from the New Intercompany Loan A.

These strategic financial moves showcase Trinseo’s commitment to optimizing its debt structure and capital positions in alignment with its future business objectives.

The detailed terms and conditions of these financial activities have been duly documented in the SEC filing, emphasizing the prudent financial strategies undertaken by Trinseo PLC.

This article is based on a recent Form 8-K filing submitted to the Securities Exchange Commission on behalf of Trinseo PLC.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Trinseo’s 8K filing here.

About Trinseo

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.