The management of Inter (Milan) will pay off a bond worth 415 million euros early so that the club can receive funds under a new debt deal, the team's commercial department said in a statement.
Inter (Milan) has made a 6.75 percent coupon payment on the value of the bond, which they will pay as interest every year to make room for a new five-year bond in 2022, BTA reports.
The debt instrument was issued by the Serie A club's media company, which manages Inter Milan's TV rights and sponsorship business. The company plans to repay the bonds on June 26 if it secures funds from a debt financing deal by the business day before the repayment date, the statement said.
The club is controlled by the American investment fund Oaktree. Oaktree Corporation took over the club last year after a missed payment of 395 million euros by the then majority shareholder, the Chinese conglomerate Suning.