Steven Zhang does not want to let go of Inter and is currently studying a plan to avoid being forced to sell the club, reports detail.
Il Sole 24 Ore details how the Nerazzurri president is now exploring a way to refinance the debt with Oaktree, something that carries an interest rate of around 12%. It’s a subordinated debt, something called HoldCo financing.
In May 2021, Oaktree lent around €275m to Luxembourg-based Grand Tower Sarl, one of the holding companies which the Zhang family use to control Inter. This was a Pik (payment-in-kind) loan, where the interest will be paid off in full at the end, accumulating over the years. When the debt is due in May 2024, the Zhang family would need to pay around €350m to the US fund.
Should this fail to happen, the Californian fund could become the new owners of Inter, similar to what happened with Elliott and former Milan owner Yonghong Li.
Zhang is now exploring a way to refinance the debt, working closely with Goldman Sachs and the Raine Group, evaluating all the possibilities. Options at this stage range from selling a minority stake to a new parter or selling the club completely, which is valued at around €1.2 billion.
No worries, Inter will be always in SerieA does not matter who own the club
Forza Inter 🖤💙
No worries, Inter will always be the 3rd club in serieA
Inter has never been to Serie B, unlike the so called other two top clubs of Serie A!
Inter have always been number 3′ unlike the so called other two top clubs of Serie A!