June 15, 2024

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Italian soccer club Inter Milan sells high-yield 415 mln euro bond

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Italian soccer club Inter Milan sells high-yield 415 mln euro bond

Soccer Football – Italian Super Cup Remaining – Inter Milan v Juventus – San Siro, Milan, Italy – January 12, 2022 Inter Milan players pose for a team team picture just before the match REUTERS/Alberto Lingria

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MILAN, Jan 28 (Reuters) – Serie A champions Inter Milan set a 6.75{cf07cd047201b183b19c0b335dbd7d35a498f84568531c8abe8643bd3ccfd494} coupon to spot a 415 million euro ($46 million) bond as investors asked for a better produce to refinance Italy’s best flight soccer club’s current credit card debt.

Inter and its owner, Chinese retail large Suning, have been challenging strike by the COVID-19 pandemic, which compelled Serie A clubs to participate in at the rear of closed doors around the past season.

Inter mentioned on Thursday the new senior secured 5-year bond is to repay a 50 million euro revolving credit history facility and to roll above a 375 million-euro note because of at the conclude of this year. .

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That bond was issued in 2017 and carried a 4.875{cf07cd047201b183b19c0b335dbd7d35a498f84568531c8abe8643bd3ccfd494} coupon.

Both equally financial debt services have been issued by the Serie A club’s media enterprise, which manages the broadcast and sponsorship company of Inter Milan.

Goldman Sachs acted as lead supervisor of the new financial debt challenge, which adopted a 275 million euro financing offer clinched with U.S. financial investment firm Oaktree Money Group in Might to shore up Inter Milan’s finances.

Inter reported a 246 million euro document reduction in the 2020-2021 economical calendar year.

($1 = .8962 euros)

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Reporting by Elisa Anzolin and Elvira Pollina
Modifying by Andrew Cawthorne

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