Inter Milan owners Suning will officially announce the refinancing of their loan from Oaktree Capital in mid-May.
This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews. The Gazzetta anticipate that the agreement is close at hand, but won’t be made official right away.
For months, there has been uncertainty about how Suning will move forward with regards to their debt to Oaktree.
The due date for the loan that Suning took on in 2021 is now just a month away.
On May 20th, the Inter owners must repay the €385 million they owe to Oaktree – €275 million plus interest.
Should they default, control of their shares in the club would pass into the hands of the US-based fund.
But now, Suning have found a solution to remain at the helm.
The Nerazzurri owners are in talks with a few funds regarding a new loan that would allow them to pay back the entire debt that they owe to Oaktree.
This would allow Suning to keep their controlling shares in Inter. And it would see Nerazzurri President Steven Zhang remain at the helm,
Inter Owners Suning Won’t Announce Oaktree Refinancing Right Away
The Gazzetta report that things are all but done regarding the refinancing.
It is not yet certain which fund Suning will take on a new loan from. Nor the prospective conditions of any bridge loan.
But what is clear is that this will be the path forward for the Inter owners.
There will be no agreement on an extension of the deadline with Oaktree. Nor will there be a sale of Inter in the immediate future.
As far as official confirmation, though, that will have to wait.
The Gazzetta report that Suning should officially announce the new loan that will refinance their debt to Oaktree close to the May 20th deadline date.
