Trinseo's New Credit Line Increases Borrowing Costs as Lenders Tighten Control
RV
Riley Villiers
SEC enforcement action · Apr 13, 2026
Source: DojiDoji Data Terminal
Trinseo's available funding against receivables has tightened. A Securitization Waiver entered on April 10, 2026, reduced the advance rate from 92.5% to 90% and added a 0.25% structuring fee on revolving commitments. This waiver extends the limited waiver of acceleration and collateral enforcement rights under the Accounts Receivable Securitization Facility to April 30, 2026.
To secure additional liquidity, Trinseo executed a Second Amendment to its SuperPriority Revolver, creating a $50,000,000 2026 Incremental Revolving Facility maturing February 2, 2028. The company borrowed $10,400,000 at closing. Interest is payable in kind at Term SOFR plus 9.g00% or an alternate base rate plus 8.00%, accompanied by a 0.375% unused line fee and a 3.50% closing fee.
These steps follow the March 30, 2026 delisting of Trinseo's ordinary shares from the NYSE. The shares now trade over the counter under the symbol TSEOF.
SEC enforcement action
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