Bedell Cristin advises Morgan Stanley on Quotient Secured Debt Financing21 Oct 2016
Bedell Cristin Jersey Partnership is pleased to announce that it has advised Morgan Stanley as sole placement agent in connection with the successful issue by Quotient Limited ("Quotient") of $120 million fixed rate senior secured loan notes due 2023 (the "Notes") and the related security package.
Quotient, a Jersey incorporated company listed on NASDAQ, is a diagnostics company committed to reducing healthcare costs and improving patient care through the provision of innovative tests within established markets.
At the initial closing, Quotient issued $84million of Notes with an additional $36million of Notes to be issued upon public announcement of field trial results for MosaiQ, a next generation automation platform to transform the $2.8billion blood transfusion diagnostics market.
Bedell Cristin advised Morgan Stanley on all commercial and regulatory aspects of Jersey law in connection with the issue of the Notes.
The Bedell Cristin team was led by partner Alasdair Hunter with assistance from senior associate Mark Nisbet and associate Ross Rennie.