Suning have identified an unnamed US-based fund to potentially refinance their debt to Oaktree Capital and remain in control of Inter Milan.
This according to Italian broadcaster SportMediaset, via FCInterNews.
It has always been set in stone that the next few months would be decisive ones regarding the future of Suning at Inter.
The Nerazzurri owners took on a sizable loan from US-based fund Oaktree Capital in 2021. That loan was to cover operating costs at Inter.
Suning put the club up as collateral. Therefore, if the Inter owners were to default, then control of the club would theoretically pass into the hands of Oaktree.
And the due date for the loan is this May.
Considering that there is zero chance of Suning paying back the loan including interest by that time, they have a couple options.
One would be to sell Inter. And there appears to be interest.
However, Suning have always indicated that their preference is to refinance the debt to Oaktree.
According to Mediaset, the Inter owners may have found a way forward in this regard.
Suning Identify Fund To Refinance Oaktree Debt & Keep Control Of Inter
Suning have been searching for potential investors to refinance their debt to Oaktree.
Inter President Steven Zhang has been at the head of this search.
And according to Mediaset, the Nerazzurri President has identified a strong potential candidate.
The broadcaster report that an unnamed US-based fund has shown an interest.
This fund would be willing to refinance Suning’s debt to Oaktree with an interest rate of 15%.
If this is indeed the case, then the Inter owners could spend the next three months sorting out the refinancing.
This would give them enough time to avoid defaulting in May.
And it would mean that, despite years of persistent rumours of a sale, Suning could remain at the helm.
Zhang would therefore remain Nerazzurri President for the foreseeable future.
