Talks between Inter Milan owners Suning and Oaktree Capital regarding an extension of a loan deadline are in an “advanced phase.”
This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews.
Suning’s future at Inter has become a major topic of conversation in recent weeks.
The reason is that the deadline on the large loan that the Chinese company took on in 2021 from Oaktree is rapidly approaching its due date.
Suning took on the loan, worth €275 million, in 2021. They secured the financing package in order to cover operating costs at Inter during the financial crisis prompted by the pandemic.
The due date for the loan is in May of this year.
Given that that date is now just months away, it will mean that a turning point is on the way one way or another.
The terms of the loan, by widespread accounts, would see control of Inter pass into the hands of Oaktree if Suning were to default on it.
Therefore, the Inter owners will have to refinance the loan if they’re to avoid this fate. And they must do so very soon, given the approaching due date.
Talks Between Suning & Oaktree In An “Advanced Phase”
A report yesterday emerged which stated that Suning and Oaktree are in fact working on extending the deadline of the loan.
And according to Tuttosport, these negotiations are in fact far along.
Considering that the due date for the loan is May 20, the timeline is certainly becoming shorter.
Tuttosport report that both parties are working to sort things out well before then.
On the other hand, the newspaper anticipate, there is also another option for Suning.
Tuttosport report that there would also be a couple of other funds in the US which would have an interest in a refinancing package with Suning.
