Suning Solve Inter’s Short-Term Financial Needs With €250M Goldman Sachs Loan, Italian Media Report

Suning Solve Inter’s Short-Term Financial Needs With €250M Goldman Sachs Loan, Italian Media Report
March 31, 2021 12:30
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Suning have found the money they need to keep Inter running until the end of the season, according to a report in the Italian media today.

Corriere dello Sport’s print edition said the Nerazzurri’s owners had sourced the €250 million they needed between now and May by taking out a loan with Goldman Sachs.

Inter have taken out a bridge loan from the noted bank, which is an important partner for Suning and has already been helping them look for investors in the market.

Suning will need to repay the loan relatively soon, but in the meantime the loan has given them the resources they needed to respect Inter’s payment deadlines this month.

Steven Zhang will therefore get his wish of remaining in charge at Inter until the end of the season, but the Rome-based paper said there was still a possibility of shares being sold at the club.

Goldman Sachs were involved with the sale of Inter from Massimo Moratti to Erick Thohir (in 2013), and from Thohir to Suning in 2016.

They also helped Inter take out their bonds worth €375 million and are working to assist the club in repaying them.

Inter were in talks with Fortress over the €250 million loan previously, as well as King Street, another US-based group, but in the end Suning took the money from Goldman Sachs instead.

By Will Beckman
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