Inter Milan owners Suning have yet to give a signal to Oaktree Capital of their intent to repay their debt.
This according to today’s print edition of Rome-based newspaper Corriere dello Sport, via FCInterNews. The newspaper report that even with reports of refinancing being imminent, Oaktree don’t have certainty of payment.
The deadline for Suning to repay their €275 million loan back to Oaktree is now less than two months away.
By the 20th of next month, the Inter owners must repay around €380 million to Oaktree. That would be the original amount plus interest.
Should Suning default by failing to pay back that full amount, then their controlling shares in Inter would pass into the hands of Oaktree.
Recent reports suggest that Suning have a clear plan to pay back the loan.
The Inter owners are reportedly on the verge of agreeing a new bridge loan.
US-based fund PIMCO are reportedly in the due diligence phase regarding a sizable new loan to Suning. The Inter owners would be able to use these funds to pay back their debts to Oaktree.
Inter Owners Suning Yet To Send Oaktree A Signal
According to the Corriere, however, on Oaktree there is not yet a clear signal from Suning.
The US-based fund are naturally awaiting what the Inter owners will do next.
But Oaktree are not ruling out the possibility that Suning could still default.
Therefore, the fund are considering the possibility of a sale of Inter.
Should the May 20th deadline for the loan come and go without Suning paying the full amount that they owe to Oaktree, then the US fund would take control of Inter.
Then, the fund’s intention would certainly be to sell the club. Albeit, without a clear idea on a buyer at the moment.
In the meantime, Oaktree are waiting and seeing whether Suning will be able to pay back their debt.
