AC Milan will issue a €123m bond, underwritten by the US hedge fund which funded the takeover of the club, according to reports.
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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.