The Suning Commerce Group

Adriano@10

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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.
Makes no sense....
Last time i checked the zhangs want those 400mio from pimco to pay back oaktree.... So if pimco enters the deal oaktree is out...
Also oaktree only takes over if pimco does not provide the 400 mio...
Any payment of oaktree to Pimco so that they dont give inter the loan would most likely be considered illegal.
 

Dave54

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ok, let's wait till Monday.
 

Dave54

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The U.S. Securities and Exchange Commission said investment adviser Pacific Investment Management Company will pay $9 million to settle two enforcement actions related to disclosure and procedure violations.

“We are pleased to resolve these matters relating to issues which occurred in two funds more than five years ago, and which PIMCO had fully addressed prior to the SEC’s investigations,” a PIMCO spokesperson said.




The SEC alleged in a statement Friday that PIMCO failed to give investors essential information about PIMCO Global StocksPLUS & Income Fund’s (PGP) use of interest rate swaps and the material effect of the swaps on PGP’s dividend between September 2014 and August 2016.

they are not angels by any means.

Douglas Hodge, the former chief executive of investment giant Pimco, is expected to plead guilty to an indictment charging him with conspiracy to commit fraud and money laundering, federal prosecutors in Boston said Thursday. that's in 2019. Every fucking fund has it's skeletons.
 

Dave54

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Oaktree Capital Management recently seized a significant Evergrande project in China. The project, known as “Project Castle,” is a 2.2 million-square-foot plot in Yuen Long, near Hong Kong’s border with Shenzhen. This plot was intended for the construction of a colossal mansion, likened to the Palace of Versailles. However, Oaktree, a global asset management firm, took action by appointing receivers for the asset. The project was a key collateral in Evergrande’s planned restructuring of its massive offshore debt load. This seizure marks one of the most significant actions taken by an international financial institution against Evergrande, which became the world’s most indebted property developer due to mounting loan repayment issues.

Seems, both firms are not shy bending the rules, really.
 

Dave54

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It's good if it's true.
 

Il Drago

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Am i the only one who's worried about interest rate being reportedly at high teens for the new loan of over 400m from Pimco? It's gonna be a huge debt to replay. And yeah. I am aware it's Suning's debt and not Inter's debt but it definitely affects ownership situation. I can't see how Suning can avoid a sale in the foreseeable future.
 

Dave54

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Initially, it was reported at 12 percent. Now, it's high teens, 18-19 percent?
 

SiamoNoi

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Am i the only one who's worried about interest rate being reportedly at high teens for the new loan of over 400m from Pimco? It's gonna be a huge debt to replay. And yeah. I am aware it's Suning's debt and not Inter's debt but it definitely affects ownership situation. I can't see how Suning can avoid a sale in the foreseeable future.
I thought it was common knowledge they will need to sell eventually.
 

Jnr

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Maybe there's a buyer we don't know about.

In any case milanisti are shitting bricks rn, their club went to vulture too, their worst nightmare is Inter getting a healthy new owner. All the key players and Simone getting their contracts and Beppe will get 200M€ transfer kit just for warm up the UCL chase.

( or John Elkann buys Inter through the offshores, sells all the key players for 600M€ creates a Serie D financial and bribe scandal and then laughs at those 400M€ losses)
 

CafeCordoba

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Am i the only one who's worried about interest rate being reportedly at high teens for the new loan of over 400m from Pimco? It's gonna be a huge debt to replay. And yeah. I am aware it's Suning's debt and not Inter's debt but it definitely affects ownership situation. I can't see how Suning can avoid a sale in the foreseeable future.
As @SiamoNoi said, it's common knowledge they will need to sell anyway at some point. This refinancing is just to push it further so they can get a better deal given the value of Inter keeps growing when the financial books are improving each year and trophies keeps on coming.

As for the "deal fallen through news", Gazzetta reporting doesn't cut it for me, someone else must report these news for me (and that someone is not La Veritá :D )
 

.h.

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If you believe the press, and it has, then you should also believe the press that 'Oaktree dont want to run a football club' which some of us have said repeatedly in the last few years.

I could see them giving Suning a 6 month extension and a real push to sell, or find a minority investor, in that time (for example).

We'll find out monday.
 

Forzanerazzurri

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If you believe the press, and it has, then you should also believe the press that 'Oaktree dont want to run a football club' which some of us have said repeatedly in the last few years.

I could see them giving Suning a 6 month extension and a real push to sell, or find a minority investor, in that time (for example).

We'll find out monday.
Exactly. It's insane that the majority of people here think that debt like this is always expected to be repaid at maturity and is never refinanced or extended and that security is always realized. They will either extend it or it will be taken out by someone else. Everyone needs to stop reading the press on this, they are not over the wall on any of it.
 

CafeCordoba

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Related to that, Inter has its own bond aswell. I don't remember when it was taken initially but it was refinanced in 2022, due date is 2027.
 

Il Drago

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Dear Nerazzurri family.

This season marks a historic milestone in our 116-year history as we are now proudly wearing two stars on our chests, symbolizing the joint efforts of women and men in Inter. As we near the end of this fantastic season, I want to address the speculation concerning our Club's financial stability.

The years 2020 and 2021 were unforgettable for our generation, as the global pandemic profoundly changed many aspects of our lives. In order to continue our support towards Inter after over a billion of investment , we secured the Oaktree debt facility at our own expense to support this winning project that we started since 2016. Since then, my management team and I have been dedicated to develop on-field success united strict financial discipline.

Our hard work has paid off. In the eight years under our stewardship, together with our staffs, players and coaches, we have experienced seven trophies, two European finals, and topped the Serie A Championship twice. The legendary second star is a testament to our growth and success. Of course, achieving such incredible heights both on and off the pitch also benefits all of our partners, including Oaktree.

During the approach of the pending Oaktree facility redemption date, we have been making every attempt with our partner to find an amicable resolution, including multiple paths for Oaktree to achieve full and immediate financial return. Unfortunately, our efforts to date have been exasperated by legal threats, and a lack of meaningful engagement from Oaktree. Not only has this been deeply frustrating and disappointing, such behavior now poses potential risks to the Club that could seriously jeopardize its stability.

On behalf of Inter, as the President, I want to assure the hundreds of millions fans around the world, that we will do everything possible to protect our color, fundamental value and stability. We are committed to working towards a peaceful resolution with Oaktree and continue our success story for our beloved Inter.

Forza Inter Sempre.

President

Steven Zhang
 

Pimpin

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If you believe the press, and it has, then you should also believe the press that 'Oaktree dont want to run a football club' which some of us have said repeatedly in the last few years.

I could see them giving Suning a 6 month extension and a real push to sell, or find a minority investor, in that time (for example).

We'll find out monday.
What?

Oaktree will pass on 1bn equity gain because "they don't want to run a club"?

And giving 6 months extension? Are you serious?
 
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