Inter Milan Owners Suning & Pimco Finalizing Loan Refinancing Agreement But Oaktree Trying To Block The Operation | OneFootball

The complex situation involving Inter Milan owners Suning, Pimco and Oaktree is fast developing with only a few days separating us from the loan’s deadline.

In May 2021, the club’s Chinese owners loaned 275 million euros from Oaktree Capital to cover the club’s operational costs. Suning used their majority shares at the club as a guarantee.

Therefore, if they don’t settle the debt along with its interest before May 20th, they risk relinquishing their control over the Nerazzurri.

Inter president Steven Zhang is looking to ward off this scenario and has found himself an ally in the shape of Pimco.

Just like Oaktree, Pimco is a US-based investment company. They are willing to repay the debt on Suning’s behalf thus replacing Oaktree as creditors.

This would buy the Chinese group additional time at the club’s helm.

According to ANSA via FcInterNews, Suning and Pimco are currently ironing out the final details in their agreement.

Pimco will reportedly grant Zhang and his group a new loan with an expiry day set after two and a half years. The interest rate will be 12%.

However, Oaktree won’t let go easily.

Oaktree Trying To Impede The Agreement Between Inter Milan Owners Suning & Pimco

As the source explains, the creditors don’t want to exit the scene, even if it means getting their investment back along with the interest.

This is because Oaktree is looking to pounce on the club’s improved finances by prolonging their agreement with the Nerazzurri. In other words, they would like to extend the loan’s deadline

Therefore, the American company is reportedly trying to hinder the agreement between Suning and Pimco.

However, the Chinese group prefers to pursue the refinancing option along with Pimco who offered them more favorable terms. This includes a more delayed due date.

The source adds that Suning remain confident about striking a final agreement with Pimco before Monday’s deadline.