Latham & Watkins has advised the joint bookrunners and arrangers in connection with the financing arrangements for Oatly Group, an oat milk company with global operations that provides a range of plant-based dairy products.

The financing consists of a new US$130 million term loan B credit facility and a SEK2.1 billion amended sustainability-linked revolving credit facility, both of which Latham advised on, as well as a private placement of US$300 million convertible PIK notes.

The Latham team was led by London finance partner Dan Maze and New York finance partner Michele Penzer, with London associate Tracy Liu and New York associate Victor Ludwig. Finance team associates also included London associates Hamzah Hussain and Arthur Lo, with New York associates Ryan Maloney and Ed Prevost.