Italian soccer club Inter Milan sells high-yield 415 mln euro bond

Soccer Football - Italian Super Cup Final - Inter Milan v Juventus - San Siro, Milan, Italy - January 12, 2022 Inter Milan players pose for a team group photo before the match REUTERS/Alberto Lingria

MILAN, Jan 28 (Reuters) - Serie A champions Inter Milan set a 6.75% coupon to place a 415 million euro ($46 million) bond as investors asked for a higher yield to refinance Italy's top flight soccer club's existing debt.

Inter and its owner, Chinese retail giant Suning, have been hard hit by the COVID-19 pandemic, which forced Serie A clubs to play behind closed doors over the past season.

Inter said on Thursday the new senior secured five-year bond is to repay a 50 million euro revolving credit facility and to roll over a 375 million-euro note due at the end of this year. .

That bond was issued in 2017 and carried a 4.875% coupon.

Both debt facilities were issued by the Serie A club's media company, which manages the broadcast and sponsorship business of Inter Milan.

Goldman Sachs acted as lead manager of the new debt issue, which followed a 275 million euro financing deal clinched with U.S. investment firm Oaktree Capital Group in May to shore up Inter Milan's finances.

Inter reported a 246 million euro record loss in the 2020-2021 financial year.

($1 = 0.8962 euros)

Reporting by Elisa Anzolin and Elvira Pollina; Editing by Andrew Cawthorne

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