Latest news with #Oaktree
Yahoo
a day ago
- Business
- Yahoo
Revealed – How Inter Milan Will Refinance €400M+ Bond In Full
Inter Milan will refinance their bond of over €400 million by issuing a new bond. Italian outlet Calcio e Finanza detail how the new bond will be worth €350 million, with an interest rate of 4.52%. Inter had most recently refinance the bond in 2022, under previous owners Suning. Advertisement That bond had been for €400 million. With the total interest, the club owed their bondholders €412 million. But the club will be repaying the full amount. This comes almost two years before the bond matures in February of 2027. Inter Milan Will Refinance Bond By Issuing New Bond MILAN, ITALY – MAY 22: (L-R) CEO Corporate FC Internazionale Alessandro Antonello, Oaktree's Global Opportunities strategy Managing Director Katherine Ralph, Managing Director and Co-Head of Europe for Oaktree's Global Opportunities strategy Alejandro Cano, CEO Sport FC Internazionale Giuseppe Marotta attend a meeting between FC Internazionale new owners Oaktree and Club's Management on May 22, 2024 in Milan, Italy. (Photo by Guido) The big question has been how Inter Milan will repay their bond in full. And Calcio e Finanza reveal that the club will do so by issuing a new bond. This will be for €350 million. Moreover, notably, the interest rate on the new bond will be €4.52 million – down from the rate of €6.75 million on the previous bond. There remains the question of where the over €50 million extra will come from. Advertisement According to Calcio e Finanza, there would be a couple of possibilities here. One would be for Inter owners Oaktree Capital to make a cash injection to directly pay off the remaining amount that the club owe to their bondholders. Furthermore, another possibility would be for the Nerazzurri to use revenues from the club's own coffers to pay off the amount. That would come after what has been a very high-earning season for the club.
The Star
13-06-2025
- Business
- The Star
Inter Milan set to early repay bond as plans new debt deal
FILE PHOTO: Soccer Football - Champions League - Quarter Final - Second Leg - Inter Milan v Bayern Munich - San Siro, Milan, Italy - April 16, 2025 Inter Milan's Lautaro Martinez celebrates scoring their first goal REUTERS/Claudia Greco/File Photo MILAN (Reuters) -Champions League finalist Inter Milan is set to early repay a 415 million euro ($479.57 million) high-yield bond this month as the Italian soccer club prepares to secure funds from a new debt deal, it said in statement on Friday. Inter Milan paid a 6.75% coupon to place a five-year bond in 2022 to refinance Italy's top flight soccer club's debt. The debt facility was issued by the Serie A club's media company, which manages the broadcast and sponsorship business of Inter Milan. The company plans to redeem the bond on June 26, subject to securing funds from a debt financing transaction by the business day before the redemption date, it said in a statement. Companies tipically repay debt early to secure better financial conditions. Controlled by U.S. investment fund Oaktree, Inter Milan was reportedly tapping private debt investors to refinance the debt facility. Oaktree took over the club last year after a missed 395 million euro payment from the then majority shareholder, Chinese Chinese conglomerate Suning. ($1 = 0.8654 euros) (Reporting by Elvira Pollina, Editing by Louise Heavens)
CNA
13-06-2025
- Business
- CNA
Inter Milan set to early repay bond as plans new debt deal
MILAN :Champions League finalist Inter Milan is set to early repay a 415 million euro ($479.57 million) high-yield bond this month as the Italian soccer club prepares to secure funds from a new debt deal, it said in statement on Friday. Inter Milan paid a 6.75 per cent coupon to place a five-year bond in 2022 to refinance Italy's top flight soccer club's debt. The debt facility was issued by the Serie A club's media company, which manages the broadcast and sponsorship business of Inter Milan. The company plans to redeem the bond on June 26, subject to securing funds from a debt financing transaction by the business day before the redemption date, it said in a statement. Companies tipically repay debt early to secure better financial conditions. Controlled by U.S. investment fund Oaktree, Inter Milan was reportedly tapping private debt investors to refinance the debt facility. Oaktree took over the club last year after a missed 395 million euro payment from the then majority shareholder, Chinese Chinese conglomerate Suning. ($1 = 0.8654 euros)
Reuters
13-06-2025
- Business
- Reuters
Inter Milan set to early repay bond as plans new debt deal
MILAN, June 13 (Reuters) - Champions League finalist Inter Milan is set to repay early a 415 million euro ($479.57 million) high-yield bond this month as the Italian soccer club prepares to secure funds from a new debt deal, it said in a statement on Friday. Inter Milan paid a 6.75% coupon to place a five-year bond in 2022 to refinance Italy's top-flight soccer club's debt. The debt facility was issued by the Serie A club's media company, which manages the broadcast and sponsorship business of Inter Milan. The company plans to redeem the bond on June 26, subject to securing funds from a debt financing transaction by the business day before the redemption date, it said in a statement. Companies typically repay debt early to secure better financial conditions. Controlled by U.S. investment fund Oaktree (OAK_pa.N), opens new tab, Inter Milan was reportedly tapping private debt investors to refinance the debt facility. Oaktree took over the club last year after a missed 395 million euro payment from the then majority shareholder, Chinese conglomerate Suning ( opens new tab. ($1 = 0.8654 euros) (This story has been refiled to fix typos in paragraphs 1 and 5)
AU Financial Review
12-06-2025
- Business
- AU Financial Review
Markets are ‘lofty but not nutty' says Oaktree's Marks
Oaktree's founder Howard Marks says while Wall Street's rebound back towards its record high was 'troubling', equity valuations were not yet at a level that would suggest a bubble was starting to emerge. Marks, speaking from Spain via webcast at the Morgan Stanley conference in Sydney, said stock prices were 'lofty but not nutty', before adding that his $US200 billion ($307 billion) firm saw better opportunities in credit markets, given the uncertain economic backdrop.
