Trinity Biotech Announces Successful Closing of its Debt Refinancing


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DUBLIN, Ireland, Jan. 27, 2022 (GLOBE NEWSWIRE) — Trinity Biotech plc (Nasdaq: TRIB), a leading developer and manufacturer of diagnostic products for the point-of-care and clinical laboratory markets, today announced today closing its recently announced refinancing.

Refinancing

As previously announced, the Company has entered into refinancing transactions relating to substantially all of the $99.9 million of outstanding exchangeable senior notes issued by our subsidiary, Trinity Biotech Investment Limited, and guaranteed by the Company (the ” Tickets “).

On Thursday, January 27, 2022, the Company successfully entered into an $81,250,000 senior secured term credit facility (the “Term Loan”) with Perceptive Advisors (“Perceptive”), an investment manager specializing in Healthcare. Proceeds from the term loan, together with existing cash and the issuance of new American Depository Shares (“ADS”) of the Company, will be used to repay approximately $99.7 million of the Notes. The Company expects to complete the actions necessary to withdraw these notes on Friday, January 28, 2022.

Commenting on the closing of the refinancing, Ronan O’Caoimh, Managing Director, said: “We are very pleased to have entered into the financing agreements with Perceptive Advisors. We are delighted to now partner with Perceptive Advisors, a specialist healthcare financier, as we begin the next stage of Trinity Biotech’s development and growth.

Trinity Biotech develops, acquires, manufactures and markets diagnostic systems, including reagents and instruments, for the point-of-care and clinical laboratory segments of the diagnostics market. The products are used to detect infectious diseases and to quantify the level of hemoglobin A1c and other chemical parameters in serum, plasma and whole blood. Trinity Biotech sells directly in the United States, Germany, France and the United Kingdom and through a network of international distributors and strategic partners in more than 75 countries around the world. For more information, please visit the Company’s website: www.trinitybiotech.com.

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Source: Trinity Biotech plc

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