Atos secures 1.675 billion euros in financing to implement the restructuring plan

7/16/2024, 4:19 PM

French IT company secures interim financing of 800 million euros – liquidity ensured until completion of the restructuring plan.

Eulerpool News Jul 16, 2024, 4:19 PM

The French IT company Atos has agreed on a financing package of 1.675 billion euros ($1.83 billion) as part of its restructuring plan, supported by a group of banks and bondholders.

Atos announced on Monday that a bridge financing of 800 million euros has been secured, providing the necessary liquidity to fund operations until the completion of the financial restructuring plan. Of this, 450 million euros is already accessible to the company.

The signing of a lock-up agreement with the majority of our key financial creditors is a crucial milestone in our financial restructuring process," said Atos Chairman Jean-Pierre Mustier.

This agreement, first announced earlier this month, follows failed rescue talks between Atos and a consortium that included shareholder Onepoint, which represented a setback for the beleaguered company at the end of June.

Securing this financing is crucial for Atos as it signals the necessary stability and creditor confidence in the company's restructuring efforts. In a challenging environment, this represents an important step towards ensuring Atos's long-term financial health and competitiveness.

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