Inter Owners Suning Aiming To Refinance Bond For €400M, Italian Financial Media Report

Inter Owners Suning Aiming To Refinance Bond For €400M, Italian Financial Media Report
July 14, 2021 12:30
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SempreInter.com

Inter owners Suning are looking to refinance the bond from €375 million to €400 million, with the bond currently maturing in 2022.

This according to today’s print edition of Milan-based financial newspaper Il Sole 24 Ore, who report that the Nerazzurri owners have appointed the Rothschild Bank in an advisory role as they search for ways to refinance the bond.

€100 million of the bond is in the hands of American investment fund Oaktree Capital, part of a separate loan deal from the fund which the Nerazzurri took in this year in order to help meet financial obligations.

The financial problems at the Nerazzurri are well-known, with economic issues affecting the parent company of owners Suning and the pandemic leading to problems with liquidity, including struggles to pay player wages.

The club have been aiming to meet strict financial targets in the summer, including with significant wage bill reduction and player sales such as the departure of Achraf Hakimi to Paris Saint-Germain, and this refinancing represents a behind-the-scenes attempt to help stabilize the club’s financial situation.

 

 

By Toni Weeler

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