Inter’s imminent loan deal with Bain Capital will not cause the club any further problems regarding debt, according to a report in the Italian media today.
Corriere dello Sport’s print edition said Nerazzurri president Steven Zhang was on the verge of agreeing a loan worth €270 million with the US group, although Oaktree are not completely out of the running yet.
Inter’s debt will not increase as a result of the deal because the loan would be sent to Great Horizon, the Luxembourg-based holdings company through which Suning control the club.
The Nerazzurri would then receive the money from Great Horizon via an injection of capital, avoiding further financial complications for Inter.
Zhang will be forced to accept high interest rates as part of the Bain Capital agreement, the Rome-based paper warned, but he has chosen a ‘bridge loan’ as the best solution to solve Inter’s financial problems.
Suning will pledge their shares in Inter to Bain Capital as part of the deal, meaning they would lose control of the club if they were unable to repay the loan before the agreed deadline.
Zhang must also decide whether he wishes to buy out LionRock Capital’s 31.05% stake at Inter with the money from Bain Capital, or if Suning would prefer to wait and find someone else to become the club’s new minority shareholder.
