Global law firm White & Case LLP has advised Oatly on a US$430 million financing arrangement, consisting of a private placement of US$300 million 9.25 percent convertible senior PIK notes due 2028, a new US$130 million term loan B credit facility and a SEK2.1 billion amended sustainability-linked revolving credit facility.
"Our cross-border and multi-practice team has advised established client Oatly on an important, cross-border financing transaction in order to fully fund the Company’s business plan," said White & Case partner Colin Diamond, who co-led the Firm’s deal team. "In doing so, we brought to bear integrated resources from our offices in Sweden, the United Kingdom and the United States to meet Oatly's needs".
Headquartered in Sweden, Oatly is a growing lifestyle brand and a leading producer of plant-based, dairy-free food products, which are available in more than 50,000 locations in more than 20 countries across Europe, North America and Asia.
The White & Case team that advised on the transaction was led by Private Equity partner Shoan Panahi (Stockholm) and Capital Markets partner Colin Diamond (New York), and included Capital Markets partners Laura Katherine Mann (Houston), Jessica Chen, Gary Kashar, Scott Levi (all New York) and Johan Thiman (Stockholm); Debt Finance partners Martin Forbes and Nicola Chapman (both London) and Brett Pallin (New York); Capital Markets counsel Bree Peterson (London), and associates Christian Meijling, Timothy Sjövall, Anna Klara Hallingström (all Stockholm), Adrian Ling, Alok Choksi, Joanna Heinz (all New York) and Steven Amrein (Houston); and Debt Finance associates Alexander Berlin-Jarhamn, Victor Bengtson, Emelie Söderman (Stockholm), Benjamin Morrison, Chiara Eramo (New York) and Kirsty Parker (London). Law clerk Joanne Li also assisted on the matter.
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