Connect with us

Company News

Atos reaches agreement to restructure debt with creditors

French technology company Atos reached an agreement with a group of banks and bondholders on terms for its debt restructuring, the company said on Sunday.

The restructuring plan involves a 233-million-euro ($250 million) contribution via a capital increase with preferential subscription rights, it said in a statement.

About 2.8 billion euros of Atos’ debt will be turned into equity, bringing the total amount of converted debt to 2.9 billion euros. That will reduce Atos’ net indebtedness by around 3.1 billion euros, the statement said.

The company said Sunday’s agreement was a “significant milestone towards reaching a final restructuring agreement by July”.

Atos announced last Wednesday that a consortium led by investor David Layani’s Onepoint had withdrawn from discussions on its restructuring. Reuters

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!