Trinseo defaults on ~$22M in interest payments; obtains limited waivers through April 2026

Trinseo PLC

Elected not to pay ~$10M interest on 2L Notes and ~$12M on Senior Credit Agreement after grace periods expired on March 19, 2026.
Non-payments triggered events of default and cross-defaults; waivers temporarily prevent acceleration.
Limited waivers under SuperPriority Revolver, Senior Credit Agreement, Refinance Credit Agreement, and AR Securitization expire April 30, 2026 (AR: April 2).
Amendment to SuperPriority Revolver removed anti-cash hoarding provisions and minimum liquidity covenant; consent fees paid in-kind.

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