Inter Milan owners Suning are on the verge of agreeing a refinancing package for their debt to Oaktree Capital.

This according to today’s print edition of Italian finance newspaper Il Sole 24 Ore, via FCInterNews. The newspaper anticipates that the Nerazzurri owners are in very advanced negotiations with three different funds.

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.

However, Suning look to have found a way forward, reports Il Sole 24 Ore.

Inter Owners Suning On The Verge Of Refinancing Oaktree Loan

Il Sole 24 Ore report that Suning will agree a new loan with a different fund.

The Nerazzurri owners will use the cash from this new loan to pay back the debt that they owe to Oaktree in full. This will entail retaining control of Inter, at least for the immediate future.

This is as opposed to agreeing a new deadline with Oaktree.

Reportedly, Suning and Oaktree had been in negotiations for an extension. This would see the deadline pushed back, with new conditions and an increase in interest rates.

But the Inter owners are instead set to agree a new loan with an altogether different fund.

Il Sole 24 Ore name three funds that Suning are in advanced talks with. These are US-based funds Ares Capital and Sixth Street Partners, and UK-based Hayfin Capital Management.

The newspaper does not give details regarding the possible terms for the new loan.

However, everything should become clearer in the coming weeks, as the deadline for the Oaktree loan approaches rapidly.

In the meantime, the rumours of new owners at Inter have continued to swirl.

Most recently, reports indicated interest from the Saudi royal family. However, these have to date come to nothing.