(Reuters) U.S. hedge fund Elliott Management will inject 120 million euros ($141 million) into the coffers of Italian soccer club AC Milan to reimburse two bonds, a source said on Tuesday.The payment will essentially cancel the club’s financial debt and further stabilize its balance sheet, the source added. Elliott, which took over the Serie A team in July, had previously lent the club 128 million euros, underwriting two bonds with average interest rates of around 10 percent.
Elliott to Inject 120 Million Euros into AC Milan to Reimburse Bonds
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