Inter president Steven Zhang has finally solved the club’s short-term financial problems, according to a report in the Italian media today.
Gazzetta dello Sport’s print edition said Zhang had secured a loan deal from Bain Capital worth €250 million and would finalise the last details after he returns to Milan tomorrow.
Inter are known to be battling a mounting pile of debts, but this agreement will not worsen the problem because it is Suning who will take on the debt directly.
Bain Capital will loan €250 million to Great Horizon, the Luxembourg-based company through which Suning control Inter, with a portion of Inter’s shares pledged as part of the deal.
Suning would be responsible for refinancing this loan and not Inter, who are already burdened with two bonds worth €375 million that need repaying.
Inter will therefore gain liquidity from the Bain Capital deal without worsening their debt problems, leading the Milan-based paper to suggest that the Nerazzurri would emerge ‘strengthened’ by the arrangement.
Suning remain interested in finding a new minority shareholder to replace LionRock Capital and it cannot be excluded that Bain Capital themselves take over their 31.05% stake at Inter.
Zhang will be back at Appiano Gentile on Friday to meet Antonio Conte, Beppe Marotta and Inter’s players as they prepare to visit Crotone at the weekend.
Conte, Marotta and Inter’s directors will only hold talks with Zhang to plan the club’s future once they have secured the Serie A title though.
