Inter to seek loan refinancing

By Football Italia staff

Inter are reportedly close to agreeing a deal to refinance a €230m loan from Goldman Sachs taken out in 2015.

The loan was taken out by former majority shareholder Erick Thohir, before close to 70 per cent of the club was sold to Chinese conglomerate Suning Group.

Repayments have already been made by the club, seeing the debt fall to €208m, but Il Sole 24 Ore reports that bonds will be issued to pay off that loan, and take out a new, longer term, finance agreement.

The bonds will be issued with the assistance of Goldman Sachs, with the aim of raising the €208m before a €200-300m loan is taken over a longer period.

The original loan stipulated that €1m had to be paid by July 1, 2015 and that money arrived with no problem.

A further 15 instalments of €3m follow until April 2019, for a total of €45m and up to this point that has also been complied with.

Finally, a further €184m must be paid by July 1, 2019.

As of June 30, 2017 Inter had debts totalling €637m, up from €488m the previous year.

However, the bulk of that increase was made up of loans from Suning Group, totalling €221m of the debt.

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