DEBT SERVICING: INTER MILAN LAUNCH 415M EUROS BOND OFFERING

Football, Inter, the new bond official: 415 million to refinance the debt

Italian champions, Inter Milan have launched a €415m bond issue in order to help pay off their debts.

Inter said that the institutional offering will help refinance the club’s revolving credit facility, fund secured accounts and pay ‘related fees and expenses’.

The move sees the Serie A club replace the two previously existing bonds – worth a combined €375m with a single offering, plus a €50m line of credit.

The bond has been rated at B+ grade by Fitch, while the interest rate on the debt has increased from 4.85 per cent to a flat six per cent.

Inter Milan expect to receive a combined €119m until 2025 from their current primary sponsorship deals with blockchain platform Socios.com, technology company Lenovo and non-fungible token (NFT) developer Zytara.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.