Sep. 9 at 1:38 PM
$OTLY Big news from Oatly regarding their balance sheet as they're refinancing its debt. Had my Oatly GPT to summarize what it means:
The company plans to issue about SEK 1.7 billion (Swedish krona) of four-year secured bonds and arrange a new SEK 750 million super-senior revolving credit facility (a backup credit line).
Oatly will use this to repay its
$130 million term loan and to buy back and cancel about
$42.9 million of 9.25% payment-in-kind convertible notes that otherwise compound over time. This reduces near-term debt deadlines and adds flexibility. About 898,134 new American Depositary Shares will be issued, which is roughly 3% dilution.
Full release here: https://investors.oatly.com/news-releases/news-release-details/oatly-contemplates-issuance-nordic-bonds-prepay-term-loan-b-and
Thoughts?