“Hour Of Truth” Arrives For Suning At Inter Milan – Likely Path Forward Revealed | OneFootball

The “hour of truth” is at hand for Suning at Inter Milan, and the Nerazzurri have a clear path forward in mind.

Today’s print edition of Turin-based newspaper Tuttosport, via FCInterNews, report that the Inter owners are heading towards a new loan from US fund PIMCO.

Seventeen days. That is how long there is to go before the deadline for the massive loan that Suning took on from Oaktree Capital in 2021.

The terms of the loan are such that, should Suning not pay back the loan in full by the date of May 20th of this year, then their shares in Inter would pass into the hands of the US-based fund.

But Suning have been exploring ways to avoid defaulting on the loan.

According to Tuttosport, there are now two options before the Inter owners.

And they have a clear preference as to which they will go with.

“Hour Of Truth” For Suning At Inter – PIMCO Loan Preferred

One possibility for Suning would be to agree an extension to the deadline with Oaktree.

This would be possible due to the fact that the US fund have no intention of taking over Suning’s shares at Inter.

Therefore, Oaktree have an offer on the table.

Reports have indicated negotiations between Suning and Oaktree since at least February.

However, Tuttosport confirm, that would not be Suning’s preferred options.

Rather, the newspaper anticipate, the Inter owners want to refinance with a new loan.

That would be with another US fund, PIMCO. Suning are close to agreeing terms with PIMCO on a new three-year loan of over €400 million.

That would allow the Inter owners to pay back what they owe to Oaktree (the original €275 million loan from 2021 plus more than €100 million in interest).

In any event, Suning must make their final decision very quickly now. There is little over two weeks in which to sort out the owners’ future at Inter.