Highest-materiality recent filing
Trinseo obtains $142.5M new money DIP financing and $150M AR facility in Chapter 11
OpCo DIP Facility: $270M total ($90M new money, $180M roll-up); $60M drawn at closing; interest SOFR+9% (new money) with 3% floor.
Trinseo files Chapter 11 with prepackaged plan to cut $2B debt, exit lenders get equity
Debt reduction of ~$2.0B; annual interest expense cut ~$140M.
Trinseo extends securitization waiver expiration to May 27, 2026
Securitization waiver expiration extended from prior date to May 27, 2026, per counterparty confirmations.
Trinseo enters RSA to cut ~$2.0B debt via pre-packaged Chapter 11; equity holders get no recovery
RSA reduces funded debt by ~$2.0B and annual interest expense by ~$140M.
Trinseo Q1 net loss $116M, adj. EBITDA $53M; cash burn $244M; adds $50M revolver
Net loss of $116M ($3.20 EPS) widened from $79M ($2.22) prior year; adjusted net loss $75M ($2.06 EPS).
Waiver expiration for super-priority revolver, senior credit facility, and refinance credit facility extended to May 13, 2026.
Trinseo skips $38M interest payment; lenders waive rights until April 30
Elected not to make ~$38M interest payment due under September 2023 credit agreement.
Securitization facility waiver extends temporary forbearance on certain defaults until April 30, 2026; advance rate cut to 90% from 92.5%.
Trinseo gets temporary debt default waivers through April 30, revolver amended
Received waivers blocking acceleration & collateral enforcement on Senior Credit, Refinance, SuperPriority Revolver until Apr 30, 2026.
Trinseo defaults on ~$22M in interest payments; obtains limited waivers through April 2026
Elected not to pay ~$10M interest on 2L Notes and ~$12M on Senior Credit Agreement after grace periods expired on March 19, 2026.
Trinseo Q4 net loss widens to $251M on $663M revenue; full year Adj EBITDA $163M down 20%
Net sales $663M, down 19% YoY; net loss $251M ($6.98 diluted EPS) vs $118M loss in Q4 2024.
NYSE commences delisting proceedings for Trinseo after market cap falls below $15M
Received NYSE notice on March 2, 2026; trading suspended immediately due to average market cap < $15M over 30 days.
Trinseo delays $10M interest payment on 2L notes, extends credit agreement grace period
Elected 30-day grace period for $10M interest payment due Feb 17, 2026 on 7.625% second lien secured notes.
Trinseo appoints Carol Flaton and Jill Frizzley to Board, expands to 11 members
Board increased to 11 members; Flaton and Frizzley appointed as independent directors effective Jan 16, 2026.
CEO Bozich receives $3.2M; CFO Stasse $2.5M; Reverberi $1.7M; Chaclas $1.35M; Cooney $1M.
Trinseo receives NYSE non-compliance notice; market cap avg $35.6M, stock avg $0.99
30-day avg market cap $35.6M; stockholders' deficit $861.6M as of Sep 30, 2025.
Trinseo approves restructuring plan to close PS plant in Schkopau, expects $30-40M charges
Permanent closure of polystyrene production in Schkopau, Germany; consolidation to Tessenderlo, Belgium.
Trinseo Q3 net loss $110M; EPS -$3.05; initiates plant closures for $30M annual savings
Net sales $743M, down 14% YoY; adjusted EBITDA $30M vs $66M prior year.
Trinseo to close MMA plants in Italy, potential PS closure in Germany; suspends dividend
Restructuring charges $80M-$100M; annual profitability improvement targeted at $20M from MMA closures, plus $10M capex reduction.
Trinseo indefinitely suspends $0.01 quarterly dividend, saving ~$1.5M/year
Board voted to indefinitely suspend the quarterly dividend of $0.01 per share.
Trinseo releases 2024 trade volume breakdown by segment and end application
Latex Binders trade volume: 41% board & specialty paper, 25% graphical paper, 18% textile, 14% construction, 2% other.
Trinseo Q2 net loss $106M; adjusted EBITDA $42M, down 37% YoY; 2025 outlook weak
Net loss $106M, EPS -$2.95; adjusted net loss $76M, adjusted EPS -$2.12.
Trinseo shareholders approve amended incentive plan and executive option forfeiture
Amended omnibus incentive plan approved: 23.3M for, 458K against, 6.8M broker non-votes.
Trinseo Q1 net loss $79M, adj. EBITDA $65M; withdraws FY2025 guidance
Net loss of $79M, EPS -$2.22; adjusted net loss $49M, adjusted EPS -$1.37.
Trinseo board members De Leener and Tomkins retire; board to shrink to nine
Pierre-Marie De Leener and Mark Tomkins will retire at 2025 AGM and not stand for reelection.
Trinseo fully redeems remaining 5.125% senior notes due 2029, discharges indenture
On March 20, 2025, Trinseo subsidiaries redeemed all $553,000 aggregate of outstanding 5.125% senior notes due 2029.
Trinseo reports Q4 net loss $118M, Adj. EBITDA $26M; Q1 outlook Adj. EBITDA $65-$80M
Full-year 2024 net loss $349M (EPS -$9.86) vs $701M in 2023; Adjusted EBITDA $204M, up from $154M.
Consummated transactions under Dec 9, 2024 support agreement on Jan 17, 2025.
Trinseo completes exchange offer and refinancing, issues new 7.625% notes due 2029
Exchanged approximately $446.5M of 5.125% Existing 2029 Notes for ~$379.5M of new 7.625% Second Lien Senior Secured Notes due 2029
Trinseo exchange offer secures 99.88% participation; 2025 note redemption on track
$446.5M (99.88%) of 5.125% 2029 notes tendered for new 7.625% secured notes due 2029.
Trinseo launches exchange offer for $447M 5.125% notes due 2029 at 85% of par
Exchange offer: $1,000 existing 5.125% notes due 2029 for $850 in new 7.625% second lien secured notes due 2029.
Trinseo enters Transaction Support Agreement; material terms undisclosed in filing
Trinseo and certain subsidiaries entered a Transaction Support Agreement with supporting creditors on December 9, 2024.
Trinseo enters TSA to refinance $115M 2025 notes, extend maturities, add $300M revolver
Supporting creditors hold 74% ($330M) of 2029 notes, 89% of revolver commitments, 58% of 2028 term loans.
Total pre-tax restructuring charges $76-97M: decommissioning/demolition $21-26M, contract terminations $27-31M, severance $25-26M, asset-related $3-14M.
Trinseo Q3 net loss $87M, adj EBITDA $66M; guides Q4 adj EBITDA $40-50M
Net sales $868M (-1% YoY); net loss $87M vs $38M prior year; diluted EPS -$2.47 vs -$1.09.
Trinseo increases LTIP target for CTO Han Hendriks to 85% of salary starting 2025
Board approved a restructuring plan on September 26, 2024.
Trinseo announces restructuring plan with $23-28M charges and workforce reduction
Board approved restructuring plan on Sept 26, 2024 combining Engineered Materials, Plastics Solutions and Polystyrene businesses.
Trinseo Q2 net loss $68M, sales -4%, Adj EBITDA $67M; Q3 guidance Adj EBITDA $65-$75M
Net loss $68M (EPS -$1.92); Adjusted Net Loss $52M (Adj EPS -$1.46); Net sales $920M, -4% YoY.
Trinseo enters $150M non-recourse receivables facility with KKR, replaces prior facility
New $150M non-recourse revolving credit facility collateralized by trade receivables; replaces HSBC facility of same size.
Trinseo declares $0.01 quarterly dividend; record date corrected to July 8
Quarterly dividend of $0.01 per share declared, payable July 22, 2024.
Trinseo shareholders elect 11 directors and approve all six proposals at 2024 AGM
All 11 director nominees elected with over 95% of votes cast (excluding broker non-votes).
Trinseo Q1 net loss $76M (-$2.14 EPS); adj EBITDA $45M; Q2 guidance adj EBITDA $60-75M
Net loss $76M, EPS -$2.14; adjusted net loss $69M, adj EPS -$1.94.
Pierre-Marie De Leener and Mark Tomkins, two members of the Board of Directors (the “Board”) of Trinseo PLC (the “Company”), notified the Company of their decision to retire from the Board and not stand for reelection at the Company’s 2025 annual general meeting of shareholders.
Pierre-Marie De Leener and Mark Tomkins, two members of the Board of Directors (the “Board”) of Trinseo PLC (the “Company”), notified the Company of their decision to retire from the Board and not stand for reelection at the Company’s 2025 annual general meeting of shareholders.
Max materiality 1.00 · Median 0.75 · Most common event other_material