DefaultApr 15, 2026, 07:41 AM
Trinseo defaults on $38M interest payment
AI Summary
Trinseo PLC elected not to make certain scheduled interest payments due on April 14, 2026, including an amount of approximately $38 million under its Credit Agreement. This action, upon the expiration of applicable grace periods, will constitute events of default under certain debt agreements. The company is engaged in ongoing discussions with its financial stakeholders regarding its capital structure and has secured temporary waivers from lenders until April 30, 2026, regarding acceleration and collateral enforcement rights.
Key Highlights
- Trinseo elected not to make scheduled interest payments on April 14, 2026.
- Non-payment includes approximately $38 million under a Credit Agreement.
- These non-payments will constitute events of default after grace periods.
- Company secured temporary waivers from lenders until April 30, 2026.
- Engaged in ongoing discussions with financial stakeholders on capital structure.