Carter Ledyard client Trinity Biotech plc (“Trinity”), a leading manufacturer of diagnostic products for the point-of-care and clinical laboratory markets, closed a senior secured term loan credit facility with investment manager Perceptive Advisers for $81,250,000 on January 27, 2022. The proceeds of the loan, along with existing cash and the issuance of American Depository Shares in Trinity, went into retiring approximately $99.7 million of the outstanding exchangeable senior notes previously issued by Trinity Biotech Investment Limited, a subsidiary of Trinity.
Carter Ledyard partners Steve Glusband and James Gadsden, counsel Mary Winchurch Brown, and associate Borja Eroglu represented Trinity in all aspects of the transaction. Partners Macculloch Irving, Jack Griem, and Jennifer MacDonald, counsel Rocco Sainato, and counsel Patricia Matzye assisted with various aspects of the refinancing.