Freshfields Advises on Financing Transactions by Oatly

Freshfields represented Verlinvest S.A. in connection with a comprehensive financing by Oatly Group AB (“Oatly”), consisting of the issuance of $300 million aggregate principal amount of 9.25% Convertible Senior PIK Notes due 2028, a new $130 million Term Loan B Credit Facility and an amended Sustainable Revolving Credit Facility.

Oatly is the world’s original and largest oatmilk company. For over 25 years, they have focused on developing expertise around oats: a global power crop with inherent properties suited for sustainability and human health. Their commitment to oats has resulted in core technical advancements that enabled them to unlock the breadth of the dairy portfolio, including milks, ice cream, yogurt, cooking creams, spreads and on-the-go drinks.

The Freshfields team for the transaction included Partners Michael Levitt, Sebastian Fain, Mary Eaton and Joe Soltis, Counsels Taryn Zucker, Jeremy Barr and Stephanie Brown Cripps, Senior Associate Aashim Usgaonkar and Associates Heather Kellam, Prince Kudolo, Kevin Meehan and Zhanqi Xu out of our New York office. In London, the team included Partners Carol Van Der Vorst and Tom McGrath, Senior Associate Max Frolov and Associates Terence Ayres, Akua Danso and Brandall Nelson. In Hong Kong, the team included Partner Edward Freeman and Associate Daria Park. In Washington D.C., the team included Partner Justin Stewart-Teitelbaum, Counsel Meytal McCoy and Associate Emily Abbott. In Brussels, the team included Partner Thomas Janssens, Counsel Alicia Van Cauwelaert and Senior Associate Michael Bo Jaspers.