Soccer-Inter Milan secure 350 million euro financing to ease debt burden
FILE PHOTO: Soccer Football - Serie A - Inter Milan v Lazio - San Siro, Milan, Italy - May 18, 2025 General view inside the stadium before the match REUTERS/Massimo Pinca/File Photo
MILAN (Reuters) -Inter Milan have secured 350 million euro ($411 million) financing through a U.S. private placement of senior secured notes maturing in 2030, needed to repay early a high-yield bond due in 2027, the Champions League finalists said on Thursday.
The notes, placed with institutional investors, were issued through Inter Milan's media company, which manages the broadcast and sponsorship business of the Serie A club.
Last year U.S. investment fund Oaktree Capital Management took over Inter after the club's Chinese majority shareholder missed a 395 million euro payment.
The club said that the debt reshuffle would improve its financial position.
"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," it said in a statement published on its website.
Earlier this month the club had anticipated it planned to redeem the bond.
Inter have progressed to the knockout stage of the Club World Cup being played in the US. They lost 5-0 to Paris St Germain in the European Champions League final last month.
($1 = 0.8524 euros)
(Reporting by Elisa AnzolinEditing by Keith Weir)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
28 minutes ago
- New Straits Times
City thrash Juventus to maintain 100 per cent record at Club World Cup
ORLANDO, United States: Manchester City turned on the style to seal top spot in Group G at the Club World Cup with an emphatic 5-2 win over Juventus on Thursday. The third straight victory for Pep Guardiola's side increases the chances of City avoiding a meeting with Real Madrid in the last 16 – a fate that may now await Juventus. City and Juve will not know their opponent until the final pair of games in Group H conclude later on Friday. A positive day for City saw 2024 Ballon d'Or winner Rodri make his first start since rupturing his ACL in September and Guardiola's side, featuring several new faces, look significantly improved on the team which struggled to finish 13 points behind Premier League champions Liverpool last season. City were on top from the outset with a Bernardo Silva header forcing Juve keeper Michele Di Gregorio to save with his feet in the fifth minute. Four minutes later, Guardiola's new-look side had the lead when after a characteristic, patient build-up, Rayan Ait-Nouri split the Juve defence with a superb pass which Jeremy Doku collected and dispatched into the far corner. Juve were gifted an equaliser when City's Brazilian keeper Ederson's pass out was intercepted by Teun Koopmeiners who marched into the box and confidently fired home. Juve returned the gift though in the 26th minute when French defender Pierre Kalulu, under no pressure, turned a low cross from Matheus Nunes into his own net. A short but intense downpour just before half-time cooled the stadium down and Guardiola introduced his prolific Norwegian striker Erling Haaland at the break and it took just seven minutes for him to find the scoresheet. Tijjani Reijnders fed Matheus Nunes whose low cross found an unmarked Haaland in the middle and while it wasn't the cleanest of finishes from close range, the striker celebrated his 300th career goal. Rodri left the field in the 66th minute to applause as Ilkay Gundogan took over his role in the centre of midfield but City continued to over-run the Turin side. Haaland latched on to a long ball from Ederson and looked for fellow sub Phil Foden in the middle but put his cross beyond the England man only for Savinho to recover it and set-up Foden for a simple conversion. Savinho then made made it 5-1 when after a Haaland shot was saved by De Gregorio's feet, the Brazilian met the loose ball with a thundering drive which flew in off the underside of the bar. Juventus had created little but restored a little pride when Kenan Yildiz produced a lovely touch and clever pass to set Dusan Vlahovic free and the Serbian beat Ederson from the edge of the box. "It has been a long time since we had a performance like this on and off the ball. The players were committed and we are happy to beat a top side," Guardiola said afterwards. "This is just one game, but I think the players felt again what it was like to be a good team. The belief always comes from your performances, not your past," added Guardiola, who was delighted to have Rodri back at the heart of his team. "We have missed him a lot. He knows exactly what he has to do with the ball, and his personality. I didn't expect him to play as many minutes. He will be ready for the next one. Everybody gave an incredible performance," he said. For Juventus it was a mauling that they will need to quickly recover from before their last 16 game. "They have much stronger players than us and I'm not going to look for excuses," said Croatian coach Igor Tudor. "We suffered. We weren't able to steal the ball, we were deep and we didn't play well with the ball. We paid for everything, we had to be perfect but they always arrived first to the ball," he added.
The Star
an hour ago
- The Star
Soccer-Impressive City show title credentials with Juve demolition
ORLANDO, Florida (Reuters) -Manchester City produced an impressive display to thrash Juventus 5-2 and underline their title credentials at the Club World Cup on Thursday. The only team to advance into the last 16 with three victories, they showed intent and great finishing to top Group G, exposing Juve's defensive fragility in searing heat in Orlando. The game also saw Rodri make his first start for City since September, playing 67 minutes. WHY IT'S IMPORTANT By finishing top of their group, City will likely avoid a last-16 clash against Real Madrid, who will clinch Group H if they beat RB Salzburg later on Thursday. Juve will probably have to face the 15-times European champions, who are expected to welcome back France forward Kylian Mbappe following a bout of illness. KEY QUOTES Juventus coach Igor Tudor: "They were better. Better team. They controlled. It was difficult to play. Then we wanted to change a little bit to the team. It was not easy to make pressing this way. They were much better." Juventus goalscorer Teun Koopmeiners: "They had a lot of touches on the ball. First half, we stayed a little too low. When we recovered the ball it was quite difficult to come out. Second half, they were stronger than us and they scored a couple of goals. We need to learn from it." Manchester City coach Pep Guardiola: "I liked the way we did it. It has been a long time since we had a performance like this on and off the ball. The players were committed and we are happy to beat a top side. "This is just one game, but I think the players felt again what it was like to be a good team. The belief always comes from your performances, not your past." Guardiola on Rodri's return to the starting lineup: "We have missed him a lot. He knows exactly what he has to do with the ball, and his personality. I didn't expect him to play as many minutes. He will be ready for the next one." (Reporting by Julien Pretot in Miami; editing by Pritha Sarkar)
Borneo Post
an hour ago
- Borneo Post
Post-gaokao spending marks rite of passage for Chinese teens
Students celebrate after the exam at a national college entrance examination site in Changsha, central China's Hunan Province on June 9, 2025. – Xinhua photo BEIJING (June 27): As the plane touched down at Beijing Capital International Airport, 18-year-old Zhao Zhixing from east China's Fujian Province snapped a selfie from his window seat, marking the start of his first solo trip after the grueling national college entrance examination, or gaokao. 'After the intense pressure of high school, I want to relax by traveling and, at the same time, broaden my horizons by experiencing the charm of different cities,' said Zhao, who planned his post-gaokao trip to Beijing and Nanjing – over a week of sightseeing, theme parks and no textbooks – as soon as the exam ended. For millions of Chinese teens like Zhao, the end of the gaokao signals more than just academic relief. It ushers in a unique consumer trend known as the 'post-gaokao economy' as students and their families celebrate hard-earned freedom with a surge in spending on travel, electronics, lifestyle upgrades, and self-discovery experiences. This week, gaokao results have begun to roll out across the country, giving graduates even more reason to unwind and enjoy the summer break. Emotional spending spike Across China, industries ranging from tourism and consumer electronics to personal training and medical services have reported a spike in activity in the weeks following the gaokao, which is held in early June every year. According to data from Ctrip, bookings for travel packages departing between June 9 and June 11 rose by 88 per cent compared to the previous week, as many high school graduates chose to begin their trips immediately after the exam. Destinations such as Beijing, Chengdu, Hangzhou and Xi'an are attracting large numbers of student travelers, with many scenic spots offering discounted or free admission for this year's high school graduates. Retailers are also experiencing growth, with electronics ranking among the top purchases. Sun Jian, store manager of JD MALL in Chongqing, said that alongside popular items like smartphones, laptops and tablets, sales of learning devices, digital notebooks and wearable gadgets have risen by 40 to 50 per cent compared with the pre-gaokao period. Given the immense importance of the gaokao in Chinese society, both students and parents often turn to travel, shopping, or celebration as a way to find emotional release after years of academic pressure. 'My son enjoys gaming, so we promised him that if he focused on preparing for the exam, he could fully relax and have fun afterward,' said a customer surnamed Zhuang, who was shopping for a laptop at a store in Fujian's Quanzhou City. Zhuang added that he was willing to buy the best he could afford for his son, as it would also be useful for college. Style makeovers soar Beyond just spending, the post-gaokao period provides a glimpse into how today's youth are starting to explore their identities and passions. From solo trips and comic con visits to photography workshops and fitness classes, students are using the time to pursue their personal interests. A community gym in Beijing's Xicheng District has seen a surge in visitors this June. 'We receive numerous inquiry calls daily, and many new members are recent high school graduates,' a gym staff member said. 'They hope to use the summer for structured training to enter university better prepared both physically and mentally.' Zhang Qingxi, a high school graduate from Huangping County in the southwestern province of Guizhou, began driving lessons just days after the gaokao. 'I hope to get my license this summer,' she said. 'Once I have it, I plan to travel with friends and see the places I've only read about in books.' According to Zhang, nearly 100 students who recently took the gaokao attend driving lessons at her training center daily. Many students are also taking greater interest in their appearance and personal style. Wang, a hairdresser from Xi'an, said the number of students coming in for hair dyeing has surged since the gaokao, and to keep up with the demand, the salon has even extended its hours. 'Graduates often choose trendy and unique hairstyles, and some even bring in anime-style designs from comics for inspiration,' said another hair salon employee. According to data from Meituan, orders for vision correction surgery rose by 108 per cent in the first week after the gaokao, while orders for orthodontics and teeth whitening each saw a nearly 30 per cent increase week-on-week. From test takers to decision makers Like most post-gaokao travelers, Zhao planned his trip and handled all the bookings – from train tickets to hotel reservations – largely on his own. 'We don't know much about his plan. He's an adult and it's all up to him now,' said Zhao's father. ''Post-gaokao consumption' is not only a wave of youthful spending, but also an important window into the consumption trends among younger generations,' said Long Shaobo, professor from the School of Public Policy and Administration, Chongqing University. According to Xia Ri, assistant researcher at Anbound, an independent think tank in China, high school graduates often seek novelty, quality and variety in their spending, which are traits typical of young people. 'As they gradually become independent decision-makers and key players in the market, their preferences are driving consumption toward greater personalisation and experiential value, accelerating consumption upgrades and product innovation,' Xia said. – Xinhua China gaokao national college entrance examination Xinhua
