The Suning Commerce Group

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I think it has been too quiet for a deal that is supposedly going well or has been done and just requires the signatures.

I may be wrong but I think, despite all the time he has had, Steven has left things a bit late.

It would be just like Inter to sweep the Scudetto, get our second star and then have an unexpected change in ownership.
 
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Neroazzurr4

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I think that it is also necessary to take into account that the weekend is coming, and big deals are (usually) not concluded during weekends. So if there is no breakthrough today, there will not be enough time on Monday.

Unless, of course, everything is settled and it's all media lies.
 

William

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PIMCO have Zhang by the balls in this negotiation so they can demand whatever they want really.
 

crzdcolombian

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PIMCO have Zhang by the balls in this negotiation so they can demand whatever they want really.

I hope the Chinese keep the club. Best owners in years. they just need to get their house in order.
 

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Financial Times:

Inter Milan refinancing race pits Oaktree against Pimco

Chinese owner of Italian football champions has a loan expiring early next week.

The Chinese owner of Inter Milan is racing to refinance an almost €400mn loan by next week, as Pimco and Oaktree Capital battle for influence over the future of the newly crowned Italian football champions.

Chinese retailer Suning Holdings, which has owned a majority stake in Inter Milan since 2016, needs to refinance a loan by Monday from Oaktree, one of the world’s biggest distressed debt investors.

Suning is attempting to refinance the loan with US bond giant Pimco at an interest rate in the high teens. But the talks are being complicated by Oaktree, according to several people involved.

Oaktree provided a €275mn emergency bridge loan in 2021 to Suning, secured against the retailer’s stake in Inter. This allowed its owners to inject more capital into the club, whose finances had been ravaged by the pandemic. The amount outstanding has since ballooned to about €395mn, due to the loan’s annual interest rate of more than 12 per cent.

Oaktree anticipated that Suning would sell the club and structured its loan in such a way that it would share in the profits from a successful sale.

People involved in the negotiations say Oaktree’s desire to protect the value of this equity option has become a sticking point in the refinancing, and the Los Angeles-based group has grown frustrated with the slow progress on achieving a sale.

One person involved said Oaktree was concerned that allowing Suning to raise further debt with a third party could reduce the chances of a sale and diminish any potential proceeds it might receive.

A person close to Oaktree said the firm had “been very supportive and haven’t made things difficult for [Suning] but there was always the expectation that there’d be a sale of the club”.

Suning has been working with advisers at Raine and Goldman Sachs for about two years to find a buyer for Inter.

Next week’s deadline underlines the contrast between the club’s finances and its success on the pitch, which culminated last month when it beat arch-rival AC Milan to become champions of Serie A, Italy’s top football league.

Oaktree is a $192bn investing powerhouse and one of the oldest specialists in chasing companies for unpaid debts. It made headlines in 2022 when it seized key properties in Hong Kong and mainland China from ailing property developer Evergrande.

People close to Oaktree said the firm was not obstructing the refinancing process, adding that the loan may well be repaid by next week’s deadline. Oaktree has no intention of seizing control of the club, according to people familiar with the matter.
 

Ethor

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I love this club, do Inter pay Lautaro? What about Correa's return? The stadium? The Suning Commerce Group sell or not sell or maybe a new loan? The drama, the angst, the downright amusement, never a dull moment with this club:lol::palm:.
 

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Maybe it's a blessing in disguise. Oaktree takes over the team and sells it to the highest bidder. There would be a lot of bidders with big money for current form Inter.
 

Mikele

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How Oaktree can stop Zhang to take loan from somebody else and pay them? Or, there is some agreement between them that we do not know. It is strange that Zhang is waitting last minute to repay Oaktree. It is big gambling from him.
 

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How Oaktree can stop Zhang to take loan from somebody else and pay them? Or, there is some agreement between them that we do not know. It is strange that Zhang is waitting last minute to repay Oaktree. It is big gambling from him.
who pays a loan before the deadline? its crazy to. theres no reason.

Oaktree cant stop him from doing exactly that. he just has to produce cash.
 

Dave54

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Gambling for sure.
 

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Nothing to do with gambling.

I still think these reporters do not know jack shit, they've proved that over all these years and so far continue to do so.
 

Dave54

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Nothing to do with gambling.

I still think these reporters do not know jack shit, they've proved that over all these years and so far continue to do so.
400 mil due on the last day, on Monday? it could have done at least 1 weak early.
 

Mikele

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who pays a loan before the deadline? its crazy to. theres no reason.

Oaktree cant stop him from doing exactly that. he just has to produce cash.
I did not mean that he pays loan months before deadline. But, he could do that week or two before last minute. What will be difference if he paid little earlier? No stress, no drama, no blackmail...
 

William

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Sounds like Oaktree is pissed their shitty loan conditions didn't force Suning to sell
A few of us are pissed that Oaktrees shitty loan conditions didn’t force Suning to sell.

Broke and /or can’t spend money outside of China on sports so we’ve been cash strangled for years now, it’s just that some people are into that shit…🤣😂
 

CafeCordoba

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A few of us are pissed that Oaktrees shitty loan conditions didn’t force Suning to sell.

Broke and /or can’t spend money outside of China on sports so we’ve been cash strangled for years now, it’s just that some people are into that shit…🤣😂
They've been pouring money to the club all these years. All these years the club has been making losses, these losses have been covered by the owners (Zhangs).

I don't know how much do you expect the owners to pour in money to a football club. Instead they tasked the club management to get the club finances in check and the management has been doing a fine job in that. The club might be self-financing within an year or two. Meaning the club doesn't need external money (from the owner) anymore.
 

Adriano@10

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Financial Times:
First time i m hearing that there is a clause that oaktree gets a cut in case of a sale....
Also nothing oaktree can do to prevent zhang from taking a loan from a third party and if that happens oaktree would be out of the picture.
Last but not least we re owned by the hangs and not suning the retailer....

Sounds a lot like a badly researched piece written in a hurry....

The thing that worries me the most about all this is the reported sum of the loan being 400 mio... Was hoping we d move in the other direction.
A few of us are pissed that Oaktrees shitty loan conditions didn’t force Suning to sell.

Broke and /or can’t spend money outside of China on sports so we’ve been cash strangled for years now, it’s just that some people are into that shit…🤣😂
We re into a well run football club that is on it s way to being financially stable and competing for trophies...
Which is something i have not seen in 30 years of being an inter fan....
 

Dave54

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Here is a wild guess. Pimco gets certain percentage from Inter sale if Oaktree takes over. it can well happen in corporate world, right? You are the stock guy.
 

CafeCordoba

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Here is a wild guess. Pimco gets certain percentage from Inter sale if Oaktree takes over. it can well happen in corporate world, right? You are the stock guy.
What? Why would Pimco get anything if Oaktree takes over in few days?
 

Mikele

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What? Why would Pimco get anything if Oaktree takes over in few days?
Because he did not loan Zhang, and we get in a hands of Oaktree. Under the table deal between Oaktree and Pimco. Do not give him money, and we will give you few percentage when sell club.
 
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