The signing between Steven Zhang and the Californian financial group Pimco is expected between next Tuesday and Wednesday, barring unforeseen circumstances
“The signing between Steven Zhang and the Californian financial group Pimco is expected between next Tuesday and Wednesday, barring unforeseen circumstancesan agreement thanks to which the Inter president will have to be able to refinance the 380 million euros (including interest) to be returned to the American private equity fund Oaktree”. This is the news reported today by Il Sole 24 Ore, which reports point on Inter’s corporate future, with the turning point coming in the next few days. Here are the details: “The loan expires on May 20th.
According to rumors, the lawyers of the parties involved are at work, namely Latham & Watkins on behalf of Suning and Dla Piper for the American Pimco. The loan was contracted with Oaktree by the Zhang family three years ago, in 2021, through the Luxembourg holding company Grand Tower Sarl, in order to have the resources necessary to manage Inter. The impression among insiders is that Pimco’s new loan will be a bridge loan, preparatory to the entry of new equity partners upstream in Inter’s control chain. At the same time, rumors have been circulating for some time about the interest of Saudi investors.”
