Serie A TIM: FC Inter Milan obtains a €275m loan from American firm Oaktree Capital

"Following a due diligence process (checks that precede a financial transaction) and with a common long-term vision for the project, today a financing operation based on shares with funds run by Oaktree Capital Management L.P. was finalised," according to a statement from FC Inter Milan (Serie A TIM) that was sent to the Italian agency ANSA on 20/05/2021.

The Milanese club has been granted a €275m loan - actually granted to Great Horizon Sarl, the Luxembourg-registered entity through which the Suning group owns 68.55% of Inter - which it will have to repay within three years, according to Italian media reports. Suning has reportedly pledged its majority stake in Inter as collateral for the loan, meaning that in the event of a default in repayment, Oaktree Capital could be brought in to take control of the Milan club. This situation is reminiscent of the arrival of the American fund Elliott Management at the head of AC Milan (Serie A TIM). Several media outlets have reported that Oaktree will buy the 31.05% stake in Inter held by Hong Kong-based investment fund LionRock Capital as a…