Trinity raising €92m for buys

Specialist healthcare services company Trinity Biotech has announced its intention to raise almost $100m (€92m), to fund potential acquisitions.

The Bray-headquartered/Nasdaq-quoted company, which makes medical testing kits for a range of conditions including HIV, Lyme disease, diabetes and cardiac ailments, is raising the funds via senior notes, or bonds, with a 30-year maturity date and a 4% annual interest rate.

The raising is via a private offering to qualified institutional buyers and initial purchasers of the debt will also have a 30-day option to buy up to an additional $15m amount of the notes.