Inter, Suning-Pimco agreement in final stages. Background on the negotiation

Inter; sources, Suning-Pimco agreement in final stages

“The agreement between the Suning Group and the American fund Pimco is in its final stages”, Ansa reports from sources close to the negotiations on the refinancing of Inter. And these financial sources say that Zhan’s group is confident “about the successful outcome of the negotiations” and is working “to find the best solution for the parties involved”.

The same sources close to the operation tell Ansa that Oaktree, after the three-year loan expiring on May 20th, had proposed to Suning a “new loan with a shorter maturity and less advantageous economic conditions”. The Pimco fund – Pacific Investment Management Company – instead “it proposes a maturity of 2 and a half years and a rate comparable to that of the previous one with Oaktree”, therefore 12 percent.

“A longer-term deadline will allow Suning to better plan the project which he will guarantee to Inter to maintain maximum sporting competitiveness as happened in these years of the Suning era”