Atos announced on Sunday that it had reached an agreement on the main terms of a financial restructuring plan with a group of banks and bondholders.

The agreement provides for a capital increase with preferential subscription rights (DPS) guaranteed up to 75 million euros by the existing bondholders and up to 100 million euros by the creditors participating in the new financing.

It will also involve the conversion of 2.8 billion euros of Atos' financial debt into capital, bringing the total amount of converted debt to 2.9 billion euros.

Lastly, between 1.5 and 1.675 billion euros of new secured financing will be contributed in equal parts by bank creditors and bondholders.

According to Atos, these operations should reduce net debt by around 3.1 billion euros and guarantee a minimum liquidity of 1.1 billion euros until the end of 2026.

Assuming that all existing shareholders were to subscribe to the capital increases, they would hold around 25.9% of the capital following the financial restructuring.

The creditors, for their part, would control 74.1% of the technology consulting company.

All that remains now is to finalize the operation and, above all, to relaunch the company from an operational point of view", commented analysts at Invest Securities this morning.

According to Atos, the restructuring operations should be implemented during the second half of 2024 with a view to completion by the end of 2024 or during the first quarter of 2025.

On the Paris Bourse, Atos shares were up by more than 1% on Monday morning following these announcements.

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