Very important developments arrive on the agreement between Suning and Pimco: according to ANSA, the parties are in the final stages
Very important developments arrive on the agreement between Suning and Pimco, four days before the Oaktree financing expires. Here is what was collected and reported by ANSA: “The agreement between the Suning Group and the American fund Pimco is in its final stages”. He learns itHANDLE from sources close to the negotiations regarding the refinancing of Inter. “At the same time Oaktree is now looking – the sources add – to exploit every means to strengthen their negotiating position and hinder the closing of the agreement with the new partner. Oaktree’s objective is to continue a relationship that would guarantee it the possibility of benefiting from the growth in the value of the club generated by commercial expansion and sporting success”. Again according to what these financial sources report, Suning is “confident about the good outcome of the negotiations, and is still committed to finding the best solution for the parties involved”.
The same sources close to the operation also confirmed to ANSA that Oaktree, after the three-year loan expiring on May 20th, had proposed to Suning a “new financing with shorter maturity and less advantageous economic conditions”. Suning therefore continued the negotiation with the Pimco – Pacific Investment Management Company – fund “it proposes a maturity of 2 and a half years and a rate comparable to that of the previous one with Oaktree”, therefore 12 percent. “A longer-term deadline will allow Suning to better plan the project which will guarantee Inter to maintain maximum sporting competitiveness as happened in recent years of the Suning era.”.
