Sky Sport’s take on the situation regarding the possible refinancing of the loan that Zhang owes to Oaktree by May 20th
There are still four days left until the deadline for Steven Zhang to repay his debt to Oaktree. Luca Marchetti, Sky Sport journalist, took stock of the situation on the matter, not excluding a new hypothesis:
“At Inter the managers are optimistic in being able to conclude the refinancing with Pimco, 4 days is objectively a short time. There is a hypothesis of an extension of this time that we cannot take off the table. It is possible because in the contract with Oaktree there are clauses relating to a possible future sale of Inter. Inter were not sold today, perhaps they could be sold. Oaktree would like to understand the possibilities well and for this reason the signature is missing, we are talking about important investments”
“Inter owes 380 million to Oaktree, if Inter fails to repay, Oaktree would take Zhang’s shares as a pledge and inherit the team which has a significant negative balance sheet. If there was a bridging loan, Oaktree would exit but always with great attention to the clauses. Then the Chinese love to negotiate until the last minute, the Inter managers know this characteristic well and for this reason they are calmer, it’s a different mentality. The signature isn’t there, it won’t arrive tomorrow either. Monday is the 20th, we could get there right away”
