Inter Milan Poised to Clear €415 Million Bond Early Amid New Debt Strategy
Source: news.source.channelnewsasia
Inter Milan, a finalist in the Champions League, plans to repay a €415 million high-yield bond early this month. The Italian soccer club, controlled by U.S. investment fund Oaktree, aims to secure funds from a new debt deal to facilitate this early repayment, originally issued to refinance the club's debt in 2022.
Key Points
Inter Milan plans to repay a €415 million bond early on June 26, subject to securing funds from a new debt deal.
The bond, with a 6.75% coupon, was issued in 2022 to refinance the club's debt.
The debt facility was managed by Inter Milan's media company, which handles the club's broadcast and sponsorship business.
Inter Milan is controlled by U.S. investment fund Oaktree, which took over after a missed payment by previous owner Suning.
Early repayment is often used to secure better financial conditions.
