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Suning has identified an unnamed US-based fund that could refinance the debt to Oaktree Capital and keep Inter Milan under control.
This was reported by Italian broadcaster Sports Mediaset via FCInterNews.
The next few months were always going to be decisive when it comes to Suning’s future at Inter.
The Nerazzurri’s owner received a significant loan from US-based fund Oaktree Capital in 2021. The loan was to cover Intel’s operating costs.
Suning offered the club as collateral. Therefore, if Inter’s owners were to default on their debts, in theory control of the club would fall into Oaktree’s hands.
The loan deadline is May of this year.
Considering that there is zero chance that Suning will repay the loan, including interest, by then, they have several options.
However, Suning has always indicated that it wants to refinance its debt to Oaktree.
According to Mediaset, Inter’s owners may have found a way forward in this regard.
Suning has been looking for potential investors to refinance its debt to Oaktree.
Inter chairman Steven Chan is leading the search.
And, according to Mediaset, the Nerazzurri president has identified a strong candidate.
The broadcaster reported that an unnamed US-based fund has expressed interest.
The fund intends to refinance Suning’s debt with Oaktree at a 15% interest rate.
If this is true, Intel’s owners will likely be looking to refinance over the next three months.
That would give it enough time to avoid a default in May.
And that would mean Suning could remain in the management team, despite persistent rumors of a sale over the years.
Zhang will therefore remain as Nerazzurri president for the time being.
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