Suning To Make PIMCO Loan Official Next Week & Stay In Control At Inter Milan

Inter Milan owners Suning will make a massive loan from PIMCO that will allow them to remain at the helm of the club official next week.

Today’s print edition of Italian business newspaper Il Sole 24 Ore, via FCInterNews, anticipate that this weekend will see the decisive turning point in negotiations.

May 20th is now just nine days 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.

Inter Owners Suning To Seal PIMCO Loan Next Week

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 €400 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 according to Il Sole 24 Ore, the turning point is right on the horizon.

The business newspaper report that there are decisive talks happening this weekend.

The law firm of Latham & Watkins is representing Suning. PIMCO, meanwhile, are represented by the firm of Piper Dla.

These talks should hammer out the final details of the new loan from PIMCO to Suning.