Oatly Group AB announced the successful issuance of SEK 1,700 million in senior secured floating rate Nordic Bonds, under a framework of SEK 2,700 million. These bonds were issued at a price of 100.00 percent of the nominal amount, bearing interest at 3-month STIBOR plus 7.00%, with a four-year tenor.
The company also entered into a new sustainability-linked SEK 750 million super senior revolving credit facility agreement. These financing actions are intended to improve the costs and terms associated with Oatly’s capital structure without raising additional financing.
Proceeds from the Nordic Bonds are designated to prepay the group’s existing $130 million term loan B credit facility in full. Additionally, the funds will be used to repurchase and cancel certain of its 9.25% Convertible Senior PIK Notes due 2028, totaling approximately $42.9 million in principal, in exchange for $24.7 million in cash and 898,134 American Depositary Shares.
The completion of these transactions, expected around October 3, 2025, following the release of Nordic Bond proceeds from escrow and the prepayment of the term loan B, is set to strengthen Oatly's financial foundation. This strategic refinancing reduces total outstanding debt, lowers costs related to the remaining debt, and mitigates the dilution impact of its convertible notes.
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