The loan by PIMCO to Suning will be a bridge-loan as the Inter Milan owners search for a buyer or new minority investor.
This according to Milan-based newspaper Corriere della Sera, via FCInterNews.
Reports yesterday confirmed that Suning are on the verge of securing a new loan to refinance their debt to US fund Oaktree Capital.
This means that the Inter owners should not default on that loan to Oaktree.
And as such, the US fund will not take over the Nerazzurri. This would occurred in the event that Suning were to be unable to pay back their debt in full.
Suning are in advanced talks with a different US fund, PIMCO, according to widespread reports.
The agreement is not set in stone yet. But the terms are already broadly agreed between Suning and PIMCO.
The Inter owners will take on a loan of over €400 million. It will be a three-year loan with significant interest rates, although the exact amount is not yet certain.
PIMCO Loan To Suning A Bridge Loan For Sale Or New Investment In Inter
This new loan does not exactly lead to any guarantees about the long-term future, however.
What it does make certain is that Suning will be at the helm for at least a little while longer. Their shares in Inter will not pass into the hands of Oaktree.
But given that this will be an even larger loan than the one from Oaktree in 2021, Suning can hardly expect security regarding the long-term future.
Therefore, the situation for the longer term remains as ever.
Suning are continuing their search for either a buyer for Inter, or for new investment.
In the former case, the Nerazzurri owners would expect a fee of no less than €1.2 billion for the club.
On the other hand, if Suning can secure new minority investment, it could bring in much-needed cash to stabilize the financial situation of the club for the future.
