Trinseo Announces Completion Of Transaction To Refinance $660M 2024 Term Loan And $385M Of 2025 Senior Notes
Portfolio Pulse from Benzinga Newsdesk
Trinseo (NYSE:TSE) has completed a transaction to refinance its $660M 2024 term loan and $385M of 2025 senior notes. The company has secured $1.077 billion in term loan financing arranged by Angelo, Gordon & Co., L.P., Oaktree Capital Management, L.P., and Apollo Global Management, Inc. The proceeds will be used to refinance the entirety of the company's outstanding 2024 term loan and $385 million of its existing $500 million 2025 Senior Notes.
September 08, 2023 | 1:54 pm
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POSITIVE IMPACT
Trinseo's refinancing of its 2024 term loan and part of its 2025 senior notes could improve its financial stability by reducing near-term debt obligations.
The refinancing transaction allows Trinseo to manage its debt more effectively by replacing its near-term debt obligations with a new term loan that has a later maturity date. This could improve the company's financial stability and potentially make it more attractive to investors.
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