Inter Milan owners Suning are reportedly negotiating with Pimco and Oaktree Capital to finalize the refinancing plan.
In May 2021, the Chinese group loaned 275 million euros from Oaktree to cover the club’s operational costs.
Suning must repay the debt in addition to the interest rate before the deadline on the 20th of May 2024.
With the due date fast approaching, Inter president Steven Zhang is seeking a swift solution.
In recent days, Pimco surfaced on the scene. The California-based company can help Suning refinance the debt by taking over as creditors.
In other words, Pimco would repay Oaktree on behalf of Suning, buying the Chinese group additional time at the club’s helm.
According to Bloomberg, the Inter owners are currently in talks with both entities, as they look to finalize the refinancing of the debt.
However, the source also notes that Suning has been discussing several plans to refinance the loan. So it remains to be seen if the operation involving Pimco will see the light.
Inter Milan Suning Negotiating Refinancing Plan With Pimco & Oaktree Capital
As we reported earlier today, the potential new creditors could settle the Oaktree debt by putting 500 million euros on the table.
A sum of 400M should be enough to repay Oaktree’s initial loan along with the interest rate. The remaining 100M will be at Inter’s disposal, albeit Suning will have to repay the full amount by 2027, which is the expected deadline for the new loan.
In the meantime, Inter president Steven Zhang has been enjoying the club’s Serie A triumph. The patron took the opportunity to reiterate his intention to remain at the club.
