Inter-Oaktree, not just the loan to Suning: the bond is 415 million in the middle | first page
The link between Inter and Oaktree has been enriched with new details: not only is the €275m loan to Suning, the California fund is also among the subscribers of the €415m bond issued by Nerazzurri in January 2022. This was revealed by the specialized site after reviewing the financial statements of one of the subsidiaries of Oaktree in Luxembourg Football and finance.
Numbers – As we have read, the American fund has bought part of the bond issued by Inter Media and Communication, the company to which the proceeds from the TV rights and sponsors of the Nerazzurri club flow. A small proportion, both in terms of the total investment of the bond and in terms of the bond-related assets held by Oaktree: the stake is equal to Just under €300,000 linked to the bond for a total amount of €415m due on September 2nd 2027 and at an interest rate of 6.75%. This equates to 0.66% of Oaktree’s assets in terms of bond investments. Oaktree maintains that it is a bondholder for Inter, considering that it has already invested in the previous bond issue with a total stake of around €420,000.” However, Oaktree’s main role in the Nerazzurri remains that of a lender to one of the Luxembourgish holdings through which the Zhang family controls Inter: It is an operation in September 2021 amounting to about 292 million euros, with PIK interest of 12% per annum and ending in May 2024, when the amount will have to be returned to the California Fund. About 85 million of this amount reached the coffers of the Nerazzurri club, of which 75 million between May and June 2021 and another 10 million last February.
yellow sun rays – At the same time it includes the color yellow suning.com: in the last days All official FC Internazionale branded products have disappeared from the siteWell displayed for years and complete with a dedicated online store.
“Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff.”