FC Internazionale Milano SpA has secured €350 million ($410 million) through a private placement with institutional investors, providing the Italian football club with fresh liquidity to repay existing bondholders and strengthen its capital structure.
The financing, announced on Thursday, comes via the US private placement market and matures in 2030.
The new notes carry an investment-grade rating, a step up from Inter Milan’s previous high-yield bonds, which were issued through its Inter Media and Communication SpA unit and set to mature in 2027.
The refinancing allows the club to replace costlier, publicly traded debt with lower-risk, privately placed notes typically held by insurance firms, pension funds and asset managers across the US and Europe.
“Compared to the previous bond, the lower amount and tighter cost of capital achieved for the private placement represent another step in Oaktree’s commitment to the long-term success and financial stability of the Club to support Inter’s prosperity both on and off the pitch,” Inter Milan said in a statement.
Inter’s previous owner, Suning Holdings Group Co., lost control of the club last year after defaulting on a loan secured by its stake in the team.
US investment firm Oaktree Capital Management assumed ownership through the enforcement of collateral tied to that loan, strengthening its position as the club’s backer and financial steward.
With the new placement secured, Inter Media and Communication SpA confirmed it will redeem its €400 million high-yield bonds at a price of 101.7 cents on the euro on June 26, as previously announced, satisfying conditions set for early redemption.
The restructuring aligns with Oaktree’s strategy to reduce the club’s debt burden and financing costs, ensuring greater financial stability amid a competitive European football landscape.
Despite its strong domestic performance, Inter Milan lost the UEFA Champions League final to Paris Saint-Germain F.C. last month and is currently participating in the FIFA Club World Cup in the United States.
The refinancing is expected to provide the club with more flexible financial resources as it seeks to remain competitive on the pitch and maintain its standing among Europe’s elite clubs.
