Official Confirmation Of New PIMCO Loan To Inter Milan Owners Suning 'Imminent'

Official confirmation of a massive new loan from US fund PIMCO to Inter Milan owners Suning is now “imminent.”

This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews. The newspaper anticipate that the loan will be worth around €430 million.

May 20th is now just one week away.

That date has always marked a clear watershed as far as the future of Suning at Inter.

The 20th will be the date of the deadline of a huge loan that the Nerazzurri owners took on from US-based fund Oaktree Capital in the spring of 2021.

That loan – worth €275 million – allowed Suning to cover operating costs at Inter during a pandemic-related financial crisis.

And the Inter owners put their controlling shares at the club as collateral.

Therefore, if Suning fail to pay back the full amount plus interest – over €380 million in total – control of the Nerazzurri would pass into the hands of Oaktree.

Confirmation Of PIMCO Loan To Inter Owners Suning “Imminent”

Last month reports emerged that Suning have been in advanced talks with a different fund from the US, PIMCO, about a new loan.

That loan would allow the Inter owners to refinance their debt to Oaktree.

Reportedly, the loan will be worth around €430 million.

Behind the scenes, Suning and PIMCO have been working to advance the loan. Obviously, the priority is very much to do so before the twentieth.

And the Gazzetta report that now it is just a matter of time – and not very much of it.

The talks between Suning and PIMCO have essentially concluded.

Therefore, it is just a matter of putting pen to paper to make the massive loan official. And then making the official announcement.