Finance Notes: Inter Milan Reportedly Close To Refinancing €230M Loan From Goldman Sachs
Serie A side Inter Milan is reportedly "close" to agreeing to a deal to refinance a €230M loan from Goldman Sachs taken out in '15. The loan was taken out by former majority shareholder Erick Thohir before close to 70% of the club was sold to Chinese conglomerate Suning Group. Repayments have "already been made by the club," to reduce the debt to €208M, but Il Sole 24 Ore reported bonds "will be issued to pay off that loan, and take out a new, longer term, finance agreement." The bonds will be issued with the assistance of Goldman Sachs (FOOTBALL ITALIA, 12/5).
Serie B club Frosinone launched a mini-bond to raise €1M ($1.2M) to invest in stadium upgrades that "will in turn drive commercial revenue for the club." It is the "first fund-raising of its kind in Italian club football." Just four Italian Serie A clubs own their stadia. Those that do not own their grounds have "struggled to secure investment and grow their match day revenues in often un-modernised venues" (INSIDE WORLD FOOTBALL, 12/5).