Inter president Zhang given debt lifeline by Oaktree

There’s lower than two months now till Steven Zhang has to pay again US fund Oaktree, who’ve given the Inter president a lifeline as he works to resolve the problem.

The Nerazzurri president now owes over €375m together with curiosity to the American funding fund, a sum that must be repaid by the agreed Might 20^th date. Failing that, Oaktree have the suitable to take management of the membership from Suning ought to a brand new settlement not be reached.

Oaktree have been resilient to refinance the mortgage, contemplating it ‘excessive danger’, and so Zhang and his advisors have been laborious at work looking for an answer, contemplating discovering a brand new mortgage with the assistance of Goldman Sachs and the Raine Group.

Il Sore 24 Ore journalist Carlo Festa particulars how Oaktree have handed a lifeline to Zhang and Inter, opening as much as a refinance of the mortgage from a non-public fairness beneath sure circumstances, in alternate for additional ensures and the promise of discovering a brand new investor within the membership within the foreseeable future.

The report additionally backs latest rumours that Oaktree would look to take management of the Nerazzurri ought to Zhang fail to resolve his debut points or arrange a brand new settlement by Might 20^th.