secwatch.observer — SEC 8-K summary
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Issuer:     Trinseo PLC (TSEOF)
CIK:        0001519061
Form:       8-K
Filed at:   2026-06-01T20:23:35+00:00
Accession:  0001104659-26-068944
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trinseo obtains $142.5M new money DIP financing and $150M AR facility in Chapter 11
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- OpCo DIP Facility: $270M total ($90M new money, $180M roll-up); $60M drawn at closing; interest SOFR+9% (new money) with 3% floor.
- Super-Holdco DIP Facility: $157.5M total ($52.5M new money, $105M roll-up); $35M drawn at closing; interest SOFR+9% (new money) with 3% floor.
- AR securitization facility amended to $150M, interest Term SOFR+6% (floor 2%), matures May 29, 2027 or exit from Chapter 11.
- Minimum liquidity covenants: $100M (OpCo) and $25M (Super-Holdco), tested weekly; disbursement variance capped at 17.5% over budget.
- Company filed Chapter 11 on May 13, 2026; milestones include deadlines for final DIP order and plan confirmation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1519061/000110465926068944/0001104659-26-068944-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1519061/000110465926068944/tm2615985d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-068944

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