Trinseo redeems $385 million portion of senior notes due 2025

By Mary-Katherine Stinson

Lexington, Ky., Sept. 8 – Trinseo plc redeemed $385 million of its existing $500 million 5 3/8% senior notes due 2025, according to a press release and an 8-K filing with the Securities and Exchange Commission.

Trinseo’s wholly owned subsidiaries, Trinseo Materials Operating SCA and Trinseo Materials Finance, Inc., had notified holders on Aug. 9 that they planned a partial redemption of the notes.

The buyback was conditioned on the consummation of a financing transaction resulting in a minimum amount of gross proceeds by Sept. 7. This condition has been satisfied, with the company announcing on Friday that it obtained $1,077,000,000 of secured term loan financing.

Trinseo is a Wayne, Pa.-based materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber.

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