Trinseo skips $38M interest payment; lenders waive rights until April 30

Trinseo PLC

Elected not to make ~$38M interest payment due under September 2023 credit agreement.
Non-payment constitutes event of default after applicable grace periods.
Lenders temporarily waived acceleration and collateral enforcement rights until April 30, 2026.
2L Notes holders prohibited from enforcing collateral for 180 days after any acceleration; no acceleration yet.
Company continues discussions with stakeholders; no assurance of agreement or restructuring outcome.

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