In May 2021, the Chinese group borrowed 275 million euros from Oaktree to pay for the club’s running expenses.
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Suning may forfeit the club to the US-based investment business if they do not reimburse the entire payment (including interest) by May 20th.
Even though he is running out of time, Inter President Steven Zhang is adamant about avoiding this situation.
Another US-based firm, Pimco, has proven to be a friend for the Chinese businessman. This business is prepared to give Suning the money required to refinance the debt. Thus, it would take Oaktree’s place as the creditor.
However, a few sources in the last 24 hours have stated that Oaktree is attempting to obstruct the process in order to obtain better terms, putting the operation in jeopardy
Owners of Inter Milan are optimistic that they will work with Pimco to reach a refinancing agreement before the Oaktree Loan deadline.
However, Zhang and Pimco, according to Sky Sport Italia (via FcInterNews), are still confident. Before Monday’s deadline, they think they can work out all the kinks and come to a definitive agreement.
The insider said the parties might work out all the details in the next days, even though the white smoke hasn’t yet appeared. But this might come down to the wire, especially before Monday.
Pimco is prepared to put in 430 million euros. This would enable Suning to pay off the Oaktree loan, which, interest included, has apparently reached 380 million.
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