Inter Milan owners Suning are reportedly making progress in their negotiations with Pimco who could help them refinance their expiring loan.

In May 2021, the Chinese group loaned 275 million euros from Oaktree Capital to cover the club’s operational costs.

The original agreement states that Suning must repay the loan along with the interest rate by May 20th, 2024.

So with only ten days remaining until the deadline, Inter president Steven Zhang is seeking a swift solution. Otherwise, he and his company risk losing their control over the club.

Therefore, the 32-year-old has been in talks with Pimco who can help him refinance the debt. In other words, the American company would replace Oaktree as creditors, thus buying Suning additional time at the club’s helm.

According to La Gazzetta dello Sport via FcInterNews, Suning and Pimco have made a breakthrough in their talks

The Chinese group now expects to receive a new loan worth 400 million euros. This figure would allow them to settle their debt for Oaktree.

Inter Milan Owners Suning Close To Reaching Refinancing Agreement With Pimco

The source expects the parties to announce the agreement in the following weekend.

As the pink newspaper explains, the loan’s expiry date is on Monday, May 20th. Therefore, Suning are expected to finalize the operation just before the deadline.

Nevertheless, it remains to be seen what the long-term future will hold for the Chinese owners at Inter.

As we reported yesterday, observers believe Zhang is only buying himself time before eventually selling his majority shares at the club.

The Chinese businessman will be relying on the club’s improved finances to gain more leverage in negotiations with potential buyers in the future.