Inter Milan President Working On Refinancing Behind The Scenes As Oaktree Loan Deadline Approaches Rapidly | OneFootball

Inter Milan President Steven Zhang is working behind the scenes to refinance Suning’s loan from Oaktree Capital with the deadline nearly at hand.

This according to today’s print edition of Turin-based newspaper Tuttosport, via FCInterNews.

Within the next 34 days, the future of Inter’s ownership will become clearer.

May 20th is the current deadline for the loan that current Nerazzurri owners Suning took on from US fund Oaktree Capital in the spring of 2021.

That loan was worth €275 million. Suning took on the loan in order to cover operating costs at Inter amid a pandemic-related financial crisis.

With interest, the Inter owners owe Oaktree a total of €385 million by May 20th.

And, should Suning default on the loan, then their shares in Inter would pass into the hands of Oaktree. The US fund would take control of the club, albeit almost certainly only temporarily.

Zhang Working To Refinance Oaktree Loan Behind The Scenes

So far, Inter President Steven Zhang has not said all that much publicly about the situation.

The President has always made clear his and Suning’s intention to remain at the helm.

But there has been little in the way of outward indications in recent months from Zhang.

But the Inter President is working behind the scenes. Naturally, with less than five weeks to go before the May 20th deadline, this work is becoming more pressing as each day goes by.

Tuttosport report that there are negotiations with a UK-based fund.

These would be for a new €400 million loan. That would be to refinance Suning’s debt, allowing them to pay back the loan to Oaktree in full.

Zhang is negotiating the terms of that new loan.

Should the Inter President be successful, then the terms of a new loan will make clearer what the future holds between Suning and the Nerazzurri.