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Trinseo to redeem $132.5 million of 8¾% notes via share offering
By Tali Rackner
Norfolk, Va., June 12 – Trinseo SA plans to redeem $132.5 million of its 8¾% senior secured notes due 2019 with the proceeds from its initial public offering of ordinary shares, according to a 424B4 filing with the Securities and Exchange Commission.
The notes will be redeemed at 103 plus accrued interest through the redemption date.
As of March 31, there was about $1,325,000,000 of the 8¾% notes outstanding.
The remaining proceeds will be used to pay fees and expenses associated with this offering and for working capital and general corporate purposes.
Trinseo is a materials company based in Berwyn, Pa.
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