Inter Milan Owners Suning & Pimco Confident About Refinancing Oaktree Loan Before Deadline

Inter Milan owners Suning remain optimistic about reaching an agreement with Pimco before the Oaktree loan expires on May 20th.

The Chinese group loaned 275 million euros from Oaktree in May 2021 to cover the club’s operational costs.

If Suning don’t repay the full amount (including the interest) by May 20th, the US-based investment company can take over the club.

Nevertheless, Inter president Steven Zhang is hellbent on avoiding this scenario, even though he’s running out of time.

The Chinese businessman has found himself an ally in Pimco, another US-based fund. This company is willing to provide Suning with the necessary amount to refinance the debt. It would thus replace Oaktree as the creditor.

Nevertheless, some reports over the past 24 hours have claimed that the operation is now at risk, with Oaktree trying to hinder the procedure while trying to negotiate better terms.

Yet, Sky Sport Italia (via FcInterNews) believes that Zhang and Pimco remain confident. They believe they can untie all knots and reach a final agreement before Monday’s deadline.

Inter Milan Owners Suning Optimistic About Reaching A Refinancing Agreement With Pimco Before Oaktree Loan Deadline

While the white smoke has yet to emerge, the source claims the parties could iron out all the details in the next few days. However, this could well go down to the wire, particularly until Monday.

Pimco is willing to invest a sum of 430 million euros. This would allow Suning to settle the Oaktree loan which has reportedly reached 380 million after adding the interest.