[Matteo Barzaghi] The direction is the same. It’s not closed yet but from what is said this week (the 15th or 17th @APaventi) barring any surprises there should be a definition and signature from Suning with the American fund Pimco for 3 years at €420M/430M. The Oaktree loan expires on May 20.

3 comments

1. [Mari] The signing between Steven Zhang and the Californian financial group Pimco is expected between Tuesday and Wednesday. The lawyers of the parties involved are at work, namely Latham & Watkins on behalf of Suning and Dla Piper for the American Pimco. The impression among professionals is that Pimco’s new loan will be a bridge loan, preparatory to the entry of new equity partners. In fact, rumors have been circulating for some time regarding the interest of Saudi investors. @sole24ore

2. One thing I don’t get is, wasn’t there a decent part of the original loan unused, like 100 mill? At that point they would just need the difference.

3. Is this good or bad?