Trinseo Takes Next Step to Implement Restructuring Support Agreement and Strengthen Financial Foundation
Commences court-supervised financial restructuring with support of majority lenders
Continues to deliver leading specialty material solutions to customers worldwide without interruption
Expects to move through process on expedited basis and emerge with enhanced flexibility to drive innovation and support growth
Trinseo PLC (the “Company” or “Trinseo”) (OTCM: TSEOF), a specialty material solutions provider, has today taken the next step to implement the pre-packaged restructuring plan described in the previously announced Restructuring Support Agreement (“RSA”) with parties that hold a significant majority of its debt. The transactions contemplated under the RSA will reduce Trinseo’s debt by approximately $2.0 billion and reduce its annual interest expense by approximately $140 million.
