Inter's Financial Situation

[brehme1989]

For someone who understands— are we more fucked than we were last week?

Short answer, yes.

Longer but still short answer, under the same ownership, we're going to go through this again in a few years and we're hoping the ratings and outlook will be more favorable.

No mood for a long answer, wasted that in the mercato thread

 

[Corrode]

Does anybody know how much Suning's (company) debt in their land China?

 

[Il Drago]

Kind of. The financing gives us the safety of not having to go bankrupt when the next debt rounds are due, but we are paying more money in interest than before. It isn't unexpected though and basically gives us a few years of security during which time we hope our CL performances improve, stadium revenues return, Sunning can financially recover, league commercial deals in general increase, and we get new sponsors


Which isn't unreasonable

What about the Oaktree loan? Is it involved in the new bond or it's a separate issue? For me that's the biggest fear. Ending up in the hands of a vulture fund.

 

[brehme1989]

What about the Oaktree loan? Is it involved in the new bond or it's a separate issue? For me that's the biggest fear. Ending up in the hands of a vulture fund.

separate issue, unless we use the funds to repay them

 

[.h.]

What about the Oaktree loan? Is it involved in the new bond or it's a separate issue? For me that's the biggest fear. Ending up in the hands of a vulture fund.

Was under the impression but may we'll be wrong that the intention of the new issue was to also help cover the Oaktree money. Bear in mind that at least of our last financial update we had a lot of money (can't remember exactly but like the majority of the Oaktree cash) sat available in the bank still if we needed it

 

[IM21]

 

[CafeCordoba]

Sole 24 Ore reports that Oaktree is one of the purchaser of this bond. They were bondholders of the earlier bond and apparently they gonna stay there with this new bond. In addition to the loan they gave to Suning (holding company) which has Suning's Inter shares as pledge. Oaktree loan is NOT Inter's debt.

 

[Il Drago]

Sole 24 Ore reports that Oaktree is one of the purchaser of this bond. They were bondholders of the earlier bond and apparently they gonna stay there with this new bond. In addition to the loan they gave to Suning (holding company) which has Suning's Inter shares as pledge. Oaktree loan is NOT Inter's debt.

Typically it isn't but if you consider the terms of the loan it basically is. If Suning don't repay the loan, Oaktree get Inter.

 

[Kev9Inter]

Typically it isn't but if you consider the terms of the loan it basically is. If Suning don't repay the loan, Oaktree get Inter.

And then PIF get the club from Oaktree for a smaller fee than the one Suning had reportedly quoted them...

 

[Pimpin]

6.7% is alot better than 15% that was reported previously.

 

[.h.]

15% would be some payday loan shit for us

 

[capitano92]

Not holding my breath but it would be incredible to wake up to some news that PIF have bought a major share and have absolved a lot of these debts and are running with Suning.

Or does that option not happen in any universe ever?

 

[Black Knight]

Not holding my breath but it would be incredible to wake up to some news that PIF have bought a major share and have absolved a lot of these debts and are running with Suning.

Or does that option not happen in any universe ever?

Only in kellosamuel's acid trips

 

[RickyMaravilla'sRightFoot]

Only in kellosamuel's acid trips

Kellosamuel is Q

 

[nadzington]

When do you guys think Suning will sell Inter? Next year? Or will the drag along until somebody meets their unreasonable asking price?

 

[Corrode]

ask xi jinping

 

[TheNetworkZ]

Suning are probably not looking to sell anymore, at least any time soon.

 

[nadzington]

Fuck, thats depressing.

Suning are probably not looking to sell anymore, at least any time soon.

 

[vex]

Just hoping we don't get crushed underneath all of these debts, coz dam is solid for now, but I have a feeling if it cracks it will be sudden, and we will be over our heads in shit. Hopefully we get sold by then, or suning gets their shit together.

 

[.h.]

we'll get sold if that ever looks like happening. unlike Jiangsu, there's a lot of equity in this club, depending on how you value it, mybe anywhere between 250 and 600m. Suning could easily sell us for a discount andd have a new owner cover the debts - it's better than letting us default (for example).

the real question is who the new owner of the club will be and what their focuses are.