Trinseo (NYSE: TSE) extends securitization waiver amid restructuring plans

Rhea-AI Filing Summary

Trinseo PLC reports that counterparties under its Credit and Security Agreement for the accounts receivable securitization facility have extended the expiration date of an existing waiver to May 27, 2026. The company emphasizes that no new waiver agreement was signed; only the prior waiver’s term was extended.

The filing also notes that the company’s ordinary shares were delisted from the NYSE following a Form 25 filed on March 23, 2026, with the delisting effective March 30, 2026. Trinseo’s shares now trade over the counter under the symbol TSEOF.

Insights

Credit & restructuring analyst

Trinseo gains short-term relief via waiver extension during broader restructuring.

The company obtained an extension of an existing waiver tied to its accounts receivable securitization facility, now running until May 27, 2026. This helps keep that funding channel available while it works through its capital structure challenges.

The risk section highlights dependence on creditor negotiations, waivers, and a contemplated Chapter 11 plan of reorganization. Execution of the previously announced Restructuring Support Agreement, court approvals, and regulatory and Irish law steps will be critical, though exact financial impacts are not quantified here.

8-K Event Classification

3 items: 1.01, 7.01, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Waiver expiration date: May 27, 2026 Credit agreement date: July 18, 2024 Form 25 filing date: March 23, 2026 +1 more

4 metrics

Waiver expiration date May 27, 2026 Expiration of existing waiver under receivables securitization facility

Credit agreement date July 18, 2024 Date of Credit and Security Agreement for securitization facility

Form 25 filing date March 23, 2026 Date NYSE filed Form 25 to delist ordinary shares

NYSE delisting effective March 30, 2026 Effective date of NYSE delisting of Trinseo ordinary shares

Key Terms

accounts receivable securitization facility, Restructuring Support Agreement, Chapter 11 plan of reorganization, forward-looking statements, +1 more

5 terms

accounts receivable securitization facility financial

"governing the Company’s accounts receivable securitization facility, the counterparties confirmed"

A accounts receivable securitization facility is a financing arrangement where a company converts its unpaid customer invoices into immediate cash by selling them or using them as collateral for a line of credit. Think of it like using a stack of IOUs as a short-term loan to smooth cash flow; it matters to investors because it changes a company’s liquidity, borrowing profile and risk exposure without necessarily showing up as traditional debt, affecting valuation and credit health.

Restructuring Support Agreement financial

"restructuring transactions contemplated by our previously announced Restructuring Support Agreement, obtain Bankruptcy Court approval"

A restructuring support agreement is a written deal between a company and its key creditors or stakeholders that lays out how debts, contracts, or ownership will be changed to fix the company’s finances. It matters to investors because it reduces uncertainty by signaling a negotiated path to solvency or debt relief—like neighbors agreeing on a repayment plan—so it influences how much creditors and shareholders are likely to recover and how quickly the company can move forward.

Chapter 11 plan of reorganization financial

"Bankruptcy Court approval of the contemplated Chapter 11 plan of reorganization (the “Plan”)"

forward-looking statements regulatory

"Cautionary Note on Forward Looking Statements This may contain forward-looking statements including"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Form 25 regulatory

"On March 23, 2026, the NYSE filed a Form 25 relating to the delisting"

A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.

Understanding 8-K Material Events →

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UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 15, 2026

Trinseo PLC

(Exact name of registrant as specified in its charter)

Ireland		001-36473		N/A
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification Number)

440 East Swedesford Road, Suite 301,

Wayne, Pennsylvania 19087

(Address of principal executive offices, including zip code)

(610) 240-3200

(Telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading symbol(s)	Name of Each Exchange on which registered
Ordinary Shares, par value $0.01 per share	TSEOF	N/A*

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

* On March 23, 2026, the NYSE filed a Form 25 relating to the delisting from the NYSE of our ordinary shares. The delisting became effective on March 30, 2026. The ordinary shares will continue to trade over the counter under the symbol “TSEOF.”

EXPLANATORY NOTE

This Current Report is being filed to report an extension of the expiration date of the waiver agreement (the “Existing Waiver”) previously disclosed under Item 1.01 of, and filed as an exhibit to, the Current Report on Form 8-K filed by Trinseo PLC (the “Company”) with the U.S. Securities and Exchange Commission on March 20, 2026 (the “Prior 8-K”). As permitted by the terms of the Existing Waiver, the Company received confirmations from the counterparties extending the expiration date of the Existing Waiver as described below. No new waiver agreement was entered into in connection with such extension.

ITEM 1.01 Entry into a Material Definitive Agreement.

Securitization Waiver.

As permitted by the waiver under the Credit and Security Agreement dated as of July 18, 2024 governing the Company’s accounts receivable securitization facility, the counterparties confirmed the extension of such waiver’s expiration date until May 27, 2026.

The foregoing description of the Existing Waiver is qualified in its entirety by reference to the full text of the Existing Waiver, a copy of which was filed as exhibit 10.5 to the Prior 8-K and is incorporated herein by reference.

ITEM 7.01 Regulation FD Disclosure.

The information set forth in the Explanatory Note and under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 7.01. The information under this Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information under this Item 7.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

Cautionary Note on Forward Looking Statements

This Current Report may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, forecasts, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like “expect,” “anticipate,” “believe,” “intend,” “forecast,” “outlook,” “will,” “may,” “might,” “see,” “tend,” “assume,” “potential,” “likely,” “target,” “plan,” “contemplate,” “seek,” “attempt,” “should,” “could,” “would” or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on the Company’s current expectations and assumptions regarding its business, the economy, its current indebtedness, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, outcome of discussions with our financial stakeholders regarding our capital structure; our ability to obtain necessary waivers, consents or amendments from our lenders; our ability to consummate the restructuring transactions contemplated by our previously announced Restructuring Support Agreement, obtain Bankruptcy Court approval of the contemplated Chapter 11 plan of reorganization (the “Plan”) and related financing arrangements and transactions, satisfy or waive conditions to the effective date of the Plan, including required regulatory approvals and Irish law implementation steps, and operate our business during the contemplated Chapter 11 process; our ability to successfully execute our overall business and transformation strategy; increased costs or disruption in the supply of raw materials; deterioration of our credit profile limiting our access to commercial credit; compliance with laws and regulations impacting our business; conditions in the global economy and capital markets; our current and future levels of indebtedness and ability to service our debt; our ability to meet the covenants under our existing indebtedness; our ability to generate cash flows from operations; our ability to successfully implement and complete proposed restructuring initiatives and to successfully generate cost savings through such initiatives; and those discussed in our Annual Report on Form 10-K, under Part I, Item 1A — “Risk Factors” and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, the Company’s actual results, performance or achievements may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this Current Report are made only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

ITEM 9.01	Exhibits.
104	Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TRINSEO PLC
	By:	/s/ David Stasse
	Name:	David Stasse
	Title:	Executive Vice President and Chief Financial Officer
Date:  May 15, 2026

FAQ

What did Trinseo PLC (TSE) disclose in this latest 8-K filing?

Trinseo disclosed that counterparties agreed to extend the expiration date of an existing waiver under its accounts receivable securitization facility to May 27, 2026. The filing also reiterates recent NYSE delisting and ongoing restructuring-related risks.

How long has the Trinseo securitization waiver been extended?

The existing waiver under Trinseo’s accounts receivable securitization facility now runs until May 27, 2026. This date reflects confirmations received under the Credit and Security Agreement originally dated July 18, 2024, and no new waiver agreement was executed.

What is the status of Trinseo PLC’s stock listing and ticker symbol?

Trinseo’s ordinary shares were delisted from the NYSE after a Form 25 filing on March 23, 2026, with delisting effective March 30, 2026. The shares now trade over the counter under the symbol TSEOF instead of the prior NYSE listing.

How does the waiver extension relate to Trinseo’s restructuring plans?

The waiver extension supports Trinseo’s flexibility while it pursues a contemplated Chapter 11 plan of reorganization and related transactions. The company cites reliance on its Restructuring Support Agreement, required Bankruptcy Court approvals, and other conditions in describing key restructuring risks.

What key risks and uncertainties does Trinseo highlight in this filing?

Trinseo cites uncertainties around negotiations with financial stakeholders, obtaining waivers and consents, executing restructuring initiatives, and securing Bankruptcy Court and regulatory approvals. It also mentions risks from indebtedness, liquidity, global economic conditions, and compliance obligations affecting its business performance.

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.9 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 33.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 21.8 KB