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Atos reaches deal with creditors on debt restructure terms

Reuters
Updated ·1-min read
FILE PHOTO: Logo of French IT consulting firm Atos in Nantes

PARIS (Reuters) -French technology company Atos (ATOS.PA) 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".

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Atos announced last Wednesday that a consortium led by investor David Layani's Onepoint had withdrawn from discussions on its restructuring.

($1 = 0.9334 euros)

(Reporting by Juliette Jabkhiro; Editing by Emelia Sithole-Matarise)