admin Atos has secured a significant €1.675 billion to restructure its debt. This funding comes through a lock-up agreement, involving over 50% of its creditors. Remaining creditors have the chance to join this agreement until July 22. This step marks a crucial move in Atos’ financial strategy.
Following this announcement, Atos’ shares rose by 10%, reaching €1.17 per share during early trading in Paris. This positive market response underscores investor confidence in Atos’ financial plans.
In addition, Atos has obtained interim financing of €800 million. Out of this, €450 million is already accessible, providing immediate liquidity to support its business operations. This interim financing is essential until the comprehensive financial restructuring plan is concluded.
Importantly, the banks and bondholders involved in this agreement have no intentions of acting in concert. As a result, the company will remain “not controlled” after the restructuring. This ensures that Atos maintains its operational independence.
The board of directors will continue to have a majority of independent directors. Additionally, certain creditors will have the right to propose the appointment of members or observers to the board. This move aims to ensure transparent and effective governance during and after the restructuring process.
The new governance structure will be announced once the restructuring is complete, which is expected by the end of 2024 or early 2025. This timeline provides a clear roadmap for Atos’ stakeholders.
These strategic measures aim to stabilize Atos’ financial position. With substantial funding and a detailed plan, Atos is poised for a robust recovery. This proactive approach highlights the company’s commitment to overcoming its debt challenges.
Atos’ significant funding and clear restructuring plan signal a promising path forward. These efforts are set to enhance investor confidence and ensure long-term financial stability for the company.
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