BERWYN, Pa.--(BUSINESS WIRE)--
Trinseo (NYSE:TSE), a global materials company and manufacturer of
plastics, latex and rubber, today announced that it intends to raise
$750 million equivalent in gross proceeds (in one or both of U.S.
dollars and euros) through an offering of senior notes due 2022 by its
subsidiaries Trinseo Materials Operating S.C.A. and Trinseo Materials
Finance, Inc. (together, the “Issuers”). The net proceeds from the notes
offering, together with approximately $450 million of term loan
borrowings expected to be available under the Issuers’ new senior
secured credit facility and available cash, will be used to repay all
outstanding indebtedness under the Issuers’ 8.750% Senior Notes due
2019. The consummation of the notes offering is subject to market and
other conditions.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the senior notes due 2022. The notes to
be offered have not been, and will not be, registered under the
Securities Act of 1933, as amended, or any applicable state securities
laws and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act of 1933, as amended, and other
applicable state securities laws.
About Trinseo
Trinseo is a leading global materials company and manufacturer of
plastics, latex and rubber, dedicated to collaborating with customers to
deliver innovative and sustainable solutions. Trinseo’s technology is
used by customers in industries such as home appliances, automotive,
building & construction, carpet, consumer electronics, consumer goods,
electrical & lighting, medical, packaging, paper & paperboard, rubber
goods and tires. Trinseo had approximately $5.1 billion in net sales in
2014, with 19 production sites around the world, and approximately 2,100
employees. Formerly known as Styron, Trinseo completed its renaming
process in the first quarter of 2015.
Note on Forward-Looking Statements
Certain statements in this press release are forward-looking
statements. These forward-looking statements involve a number of risks,
uncertainties, and other factors including the failure to consummate the
notes offering or the new senior secured credit facility and potential
changes in market conditions that could cause actual results to differ
materially from those expressed or implied by such statement. We
caution investors not to place undue reliance on the forward-looking
statements contained in this press release. You are encouraged to
read our filings with the SEC, available at www.sec.gov,
for a discussion of these and other risks and uncertainties that we face.
Source: Trinseo