Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Paydowns > Headlines for Altos Hornos de Mexico > News item |
Trinseo looks to sell styrenics business and then repay debt
Chicago, March 13 – Trinseo plc commenced a sale process for interest in its half ownership in Americas Styrenics LLC, a joint venture with Chevron Phillips Chemical Co LP.
The company said in a press release that any proceeds from the sale are expected to be used to pay down a portion of the recently issued $1.077 billion of term loans maturing in 2028.
Frank Bozich, president and chief executive officer of Trinseo, said “The sale of our ownership in AmSty is a logical step in our transformation as a specialty materials and sustainable solutions provider. By executing the contractual ownership exit provision, we have a clear pathway to divest our interest in the joint venture. We expect the exit process to lead to a definitive arrangement no later than early 2025.”
Trinseo is a Wayne, Pa.-based materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.