Oatly announces financing commitments of USD 425 million

Oatly Group AB (Oatly) has announced financing commitments of USD 425 million, consisting of USD 300 million senior convertible PIK notes and commitment letters for a USD 125 million term loan B credit facility and an amended sustainable revolving credit facility.

The convertible notes are being issued in two tranches on substantially identical economic terms. Certain of Oatly’s existing shareholders, Verlinvest S.A., an international consumer-focused growth investor and co-owner of the joint venture company Nativus, Oatly’s largest shareholder, Nativus and Blackstone Funds have agreed to purchase USD 200 million aggregate principal amount of Swedish notes convertible into Oatly ordinary shares and other institutional investors have agreed to purchase USD 100 million aggregate principal amount of U.S. notes convertible into Oatly ADSs, listed on the Nasdaq Global Market.

Mannheimer Swartling advised Verlinvest on Swedish legal matters in the transaction.


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