Suning solve Inter’s financial needs with €250 million loan

Suning solve Inter’s financial needs with €250 million loan

Suning solve Inter’s financial needs with a €250 million loan from the noted bank. While Suning have got the loan at the moment, they’d have to pay it back sooner than usual. The loans are enough for them to keep Inter’s flow going this season. This will fulfill Zhang’s wish to remain Inter’s owner until next season. The noted bank is an important partner of Suning and in fact, has been helping them in finding an investor too.

Suning are a big group and it’s not like they can’t spend. But their debt is high and they might be able to deal with that too. However, the Chinese govt. is opposes liquidity movement from the country. The new rules have restricted large business overs to use their capital for ventures outside of the country. Thus, Suning was on the verge of selling. However, as of now, that has been delayed.

Suning solve Inter's financial needs

Suning solve Inter’s financial needs, Zhang will remain the owner this year

Il Sole 24 Ore reporter Carlo Festa explained the difficulties Inter are facing. He said, ” Inter are more or less €400 million in debt with a turnover of roughly the same figure. Which is already a fairly heavy financial burden in itself.” He further explained that after Suning take a €250 million loan, they’d have a collective debt of €700 million. Thus, it is unviable for a club that isn’t bringing in this much cash.

Though they’ve taken the loan, Suning would still have to sell a few shares. In 2013, Goldman Sachs helped in the sale of Inter from Massimo Moratti to Erick Thohir. And then from Goldman Sachs to Suning again in 2016. They also helped Inter take out their bonds worth €375 million and also helped the club in repaying them. Inter were in talks with Fortress for the loan earlier but at the end of the day, they took it from Goldman Sachs.

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