Inter-Pimco, agreement in the final stages

The agreement between the Suning Group and the American fund Pimco is in its final stages. This was reported by Ansa, citing sources close to the negotiations concerning the refinancing of Inter Milan. At the same time, the Oaktree fund is now trying," the sources quoted by the agency add, "to exploit every means to strengthen its negotiating position and hinder the closing of the deal with the new partner. Oaktree's objective is to continue a relationship that would ensure it can benefit from the growth in value of the club generated by commercial expansion and sporting success. Again according to these financial sources, Suning is 'confident about the successful outcome of the negotiations, and still committed to finding the best solution for the parties involved'.

The same sources close to the operation also confirm to Ansa that Oaktree, after the three-year loan expiring next May 20, had proposed to Suning a "new loan with a shorter maturity and less advantageous economic conditions". Suning then went ahead with negotiations with the Pimco fund - Pacific Investment Management Company- which proposed a maturity of two and a half years and a rate comparable to the previous one with OaKtree, i.e. 12 per cent. "A longer term maturity will allow Suning a better planning of the project, which will guarantee that Inter will remain as competitive in sport as it has been during these years of the Suning era."