Republic – Chang, funds from PIMCO at lower prices. The Saudi future?

Interest rates lower than Oaktree, a future yet to be written: new details emerge regarding the Chang-Pimco agreement

Obviously, the news of the next refinancing that Inter President Stephen Chang is about to receive from the American Pimco fund has spread in the editorial offices. Along the way, details emerge of the operation that will allow Zhang to repay the loan to Oaktree, and remain in charge of Inter.

“PIMCO, the world's sixth largest fund in terms of assets under management, is conducting due diligence. The official announcement will be made by the second week of May. The duration of the new financing could be two or three years. In this second case it will coincide with the expiration of the managers' contracts.” Technicians, Beppe Marotta first and foremost, and the structure will likely be similar to the one that was closed with Oaktree: the loan charged to the Luxembourg company through which Zhang controls Inter, and a majority package of the club's shares as a pledge to the creditor as collateral that PIMCO will be prepared to guarantee. Funds at a rate lower than the 12% requested by Oaktree for the new loan, two points higher than that applied in 2021.confirms Republica today.

And the future? However, it can be characterized by a change of ownership.

“It is not known how long Zhang intends to continue being the owner of Inter. Certainly, under his management the club has won six titles, and compared to the two-year period of the Covid crisis, he has reduced operating losses by closing “At the same time, the stadium construction process continues: the renovation of the San “Ciro or building a new facility in Rozano, which is why there is no shortage of ambitious buyers, including the Saudi consortium.”