Details have emerged about the €275 million loan to Inter from US fund Oaktree Capital last year.
This according to today’s print edition of Italian business newspaper Il Sole 24 Ore, who report that the loan is a three-year payment-in-kind loan with an interest rate of ten percent.
This steep interest rate is recalculated each year on the total amount still owed, so for example the initial interest payment would be for €27.5 million, ten percent of the €275 million amount, taking the amount owed to €302.5 million.
The next year the interest is applied to the €302.5 million amount, meaning that the amount goes up to €332.75 million, and then on in this fashion to €366.025 million in the third year of the loan.
The repayment of the loan at this interest rate and this total amount will be due after three years per the terms of the loan, and should owners Suning be unable to repay it then control of the club would pass over into the hands of Oaktree.