Trinseo Executes Transaction Support Agreement To Address Near-Term Debt Challenges
Trinseo Executes Transaction Support Agreement To Address Near-Term Debt Challenges
These loans will carry terms similar to the credit facility established in September 2023.Trinseo PLC (NYSE:TSE) shares are trading higher after the company announced it secured a transaction support agreement with key holders of its senior notes and term loans.
Trinseo PLC (紐交所：TSE) 的股票在公司宣佈與其高級票據和定期貸款的主要持有者達成交易支持協議後上漲。
As per the transaction support agreement, these creditors will support transactions aimed at refinancing near-term maturities, enhancing operating liquidity, extending the nearest debt maturity to 2028, and capturing a discount through an exchange of the company's 2029 senior notes.
根據交易支持協議，這些債權人將支持旨在再融資近期到期債務、增強運營流動性、將最近的債務到期時間延長至2028年，並通過交換公司的2029年高級票據來獲得折扣的交易。
Trinseo plans to redeem and refinance its $115 million in 2025 Senior Notes by issuing $115 million in 2028 Refinance Term Loans.
Trinseo計劃通過發行11500萬美元的2028年再融資定期貸款來贖回和再融資其2025年高級票據的11500萬美元。
These loans will carry terms similar to the credit facility established in September 2023.
這些貸款將具有與2023年9月建立的信貸設施類似的條款。
At least $330 million of 2029 Senior Notes will be exchanged for new 2029 Second Lien Senior Secured Notes at a discount to their face value. This exchange will allow Trinseo to capture at least $49 million in value from Supporting Creditors.
至少33000萬美元的2029年高級票據將按折扣交換爲新的2029年第二抵押高級擔保票據。此交易將使Trinseo從支持債權人那裏獲得至少4900萬美元的價值。
The company will establish a new $300 million revolving credit facility with a reset springing covenant and a maturity date of February 2028.
公司將建立一個新的30000萬美元循環信貸設施，該設施將設有重置彈性契約，並於2028年2月到期。
This facility will be immediately available and will replace the existing facility set to mature in May 2026.
該設施將立即可用，並將取代現有的將於2026年5月到期的設施。
Frank Bozich, Trinseo's President and Chief Executive Officer, said, "This transaction significantly strengthens our ability to implement key strategic initiatives that support our ongoing transformation as a leading provider of specialty materials and sustainable solutions."
Trinseo的總裁兼首席執行官Frank Bozich表示：「這一交易顯著增強了我們實施支持我們作爲專業材料和可持續解決方案領先供應商的持續轉型的關鍵戰略舉措的能力。」
"The added financial flexibility gives us more runway to thoughtfully focus on optimizing our portfolio, invest in our leading circular technologies, and further solidify our financial position."
「增加的財務靈活性給我們更多機會，可以仔細專注於優化我們的投資組合，投資於我們領先的循環技術，並進一步鞏固我們的財務狀況。」
As of September 30, Trinseo had cash of $167 million, including $2 million in restricted cash, and had approximately $177 million in additional liquidity available through two committed financing facilities.
截至9月30日，Trinseo的現金爲16700萬美元，包括200萬美元的限制性現金，並且通過兩個承諾的融資設施可以獲得大約17700萬美元的額外流動性。
Price Action: TSE shares are up 31.2% at $5.85 at the last check Tuesday.
價格走勢：TSE股票在週二最後檢查時上漲31.2%，達到5.85美元。
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Image via Shutterstock.
圖片來源：Shutterstock。
譯文內容由第三人軟體翻譯。
