AC Milan will issue a €123m bond, underwritten by the US hedge fund which funded the takeover of the club, according to reports.
Yonghong Li and the Rossoneri Sport Investment Lux group completed their takeover of the club from Silvio Berlusconi earlier this month, ending a 30-year reign for the former Italian PM.
Now, il Sole 24 Ore claims that a €123million bond will be issued by the club in Vienna, underwritten by Elliott.
That figure will be broken up, with €73million going towards repaying Italian debts to Italian banks such as BancoBpm, Intesa Sanpaolo, Unicredit, Cariparma and others.
Then, the remaining €50million will be put toward the summer transfer market.
Also on the agenda is a meeting of the shareholders next month to discuss the Rossoneri’s finances, with an expected €100million increase in capital.