Inter Milan owners Suning are getting closer and closer to agreeing an extension on the deadline of a loan from Oaktree Capital.
This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews. The Gazzetta note that Oaktree representatives were part of Inter’s delegation in Madrid recently.
At the moment, the deadline for Suning to repay the loan they took on from US-based fund Oaktree in 2021 is just a couple months away.
That loan was made in May of 2021. And the maturity of it will come due in May of this year.
But by all accounts, Suning will not let things get that far.
Rather, the Inter owners are keen to agree an extension with Oaktree. This would allow them to remain at the helm of the Nerazzurri for at least a couple more years.
And the negotiations with the US-based fund have been ongoing for some time now.
The Gazzetta note how there were in fact representatives from Oaktree as part of Inter’s delegation in Madrid for last week’s Champions League match against Atletico Madrid.
Suning Edge Every Closer To Agreeing Loan Deadline Extension With Oaktree
So all signs point towards Suning extending the deadline of their loan from Oaktree.
At the moment, the maturity for the loan – due in May as things stand – stands at around €350 million.
That includes the original sum of €275 million, as well as the 12% in interest.
According to the Gazzetta, Suning and Oaktree could agree to bump the deadline back by two years, rather than the three-year period of maturity of the original loan in 2021.
That would mean that it would then come due in May of 2026.
And the interest would rise from the already high 12%.
The Gazzetta anticipate that it is only a matter of time. Suning and Oaktree should iron out the deal in the coming weeks.
