PARIS (Reuters) – French tech firm Atos (ATOS.PA) has finalized a deal with a consortium of banks and bondholders regarding its debt restructuring, the company announced on Sunday.
As part of the restructuring plan, a capital increase with preferential subscription rights will provide a 233 million-euro ($250 million) contribution, according to a statement released by Atos.
Approximately 2.8 billion euros of Atos’ debt will be converted into equity, resulting in a total of 2.9 billion euros in converted debt. This move is expected to reduce Atos’ net indebtedness by around 3.1 billion euros, the statement added.
Atos described the agreement reached on Sunday as a “significant milestone” towards finalizing the restructuring agreement by July.
Last Wednesday, Atos announced that a consortium led by investor David Layani’s Onepoint had decided to withdraw from the restructuring discussions.
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