Inter Milan owners Suning will seal a new loan worth €420-430 million from US-based fund PIMCO on either the 15th or the 17th of May.

This according to Italian broadcaster Sky Sport Italia, via FCInterNews.

May 20th is now just nine days away.

That date has always marked a clear watershed as far as the future of Suning at Inter.

The 20th will be the date of the deadline of a huge loan that the Nerazzurri owners took on from US-based fund Oaktree Capital in the spring of 2021.

That loan – worth 275 million – allowed Suning to cover operating costs at Inter during a pandemic-related financial crisis.

And the Inter owners put their controlling shares at the club as collateral.

Therefore, if Suning fail to pay back the full amount plus interest – over 380 million in total – control of the Nerazzurri would pass into the hands of Oaktree.

Inter Owners Suning To Seal PIMCO Loan By May 17th

Last month reports emerged that Suning have been in advanced talks with a different fund from the US, PIMCO, about a new loan.

That loan would allow the Inter owners to refinance their debt to Oaktree.

Reportedly, the loan will be worth around 400 million.

Behind the scenes, Suning and PIMCO have been working to advance the loan. Obviously, the priority is very much to do so before the twentieth.

There are talks ongoing this weekend. Suning and PIMCO are aiming to work out the final details on the terms of the loan.

Sky confirm that the loan will be a three-year loan, with a new deadline in May of 2027.

The total amount of the loan will be around 420-430 million, reports Sky. That will, naturally, be more than sufficient to cover Suning’s debt to Oaktree.

Sky anticipate that the official confirmation of the new loan will not arrive right at the start of next week.

However, the wait will not be too long. The broadcaster reports that Suning will make the loan official by Friday May the 17th at the latest.