Silver Point Leads $125 million Senior Secured Financing to Oatly in Support of Business Plan Funding
Greenwich, CT, March 20, 2023 -- Silver Point Finance, a subsidiary of Silver Point Capital, L.P., acted as Lead Lender and Syndication Agent on a $125 million Senior Secured Facility to Oatly Group (Nasdaq: OTLY) (“Oatly” or the “Company”) as part of a larger $425 million effort to bolster liquidity. J.P. Morgan is Lead Left Arranger and Sole Physical Bookrunner on the Senior Secured Facility. The Company is also issuing $300 million of 9.25% Convertible Senior PIK Notes due 2028 in two tranches. Current shareholders Nativus, Verlinvest and Blackstone Funds have agreed to purchase $200 million of the Notes, while other institutional investors have agreed to purchase $100 million. J.P. Morgan is Lead Placement Agent and Physical Bookrunner for the Notes.
Oatly is the world’s original and largest oat drink company. For over 25 years, Oatly has exclusively focused on developing expertise around oats: a global power crop with inherent properties suited for sustainability and human health. The Company’s commitment to oats has resulted in core technical advancements that enabled Oatly to unlock the breadth of the dairy portfolio, including alternatives to milks, ice cream, yogurt, cooking creams, and spreads. Headquartered in Malmö, Sweden, the Oatly brand is available in more than 20 countries globally.
About Silver Point Finance
Silver Point Finance, a subsidiary of Silver Point Capital, L.P. (“Silver Point”), is the firm’s dedicated financing business, providing customized financing solutions to middle-market companies across a broad range of industries. Silver Point Finance provides capital for acquisitions, refinancings, bridge loans, growth capital, balance sheet restructurings and leveraged recapitalizations. Since 2003, Silver Point Finance has deployed over $19 billion in primary originations across 385+ transactions. Silver Point Finance now manages ~$11 billion in investible capital to deploy into its direct lending strategy. For more information on Silver Point Finance, please visit www.silverpointfinance.com
About Silver Point Capital
Silver Point Capital, L.P. is a registered investment adviser that focuses on global credit investing. Founded in 2002 by Edward A. Mulé and Robert J. O’Shea, Silver Point was designed and built to have the deep resources, expertise and capital needed to invest in the global credit markets. Silver Point’s business model seeks to capture synergies across its platform, build comparative advantages in every area of the Firm, hire and train exceptional people, and establish a culture of teamwork. As of January 2023, Silver Point Capital has over 270 employees, including approximately 90 investment professionals, and over $22 billion in investible assets