The French company Atos has secured financing of 1.675 billion euros. In addition, it will receive 800 million euros to implement the necessary restructuring.

The troubled French IT company Atos has a lot to worry about. By the end of 2025, the company has to repay more than 3.6 billion euros in debt, of which 1.2 billion euros will be repaid this year. At the beginning of April, an ambitious refinancing plan was proposed to convert debt into equity.

Atos reached an agreement with banks and bondholders earlier this month. Today, the company announces that it has secured financing of €1.675 million, with the bank and bondholder each contributing half.

At the same time, Atos has also secured interim financing of EUR 800 million. This money is needed to complete the restructuring plans. Atos already had access to EUR 450 million at the beginning of the year. The remaining amount, EUR 350 million, is to be made available at the end of July.

Sustainable policy

Jean-Pierre Munstier, Chairman of the Board of Directors, emphasizes that the latest developments are an important step towards a sustainable corporate policy with a focus on customers and employees.

“We have successfully reached agreement on our financial restructuring plan, with 1.675 billion euros in new financing and a lock-up agreement with a group of banks and a group of bondholders. This brings us one step closer to the originally planned filing of the plan with the Commercial Court by the end of July,” he said in a statement.

“We have also provided the company with short-term liquidity as well as the long-term financing required to fund the company,” he added.

A major restructuring is the focus for the second half of 2024. It should all be over by the end of 2024, or at the latest by the beginning of 2025. The French IT giant will reveal what this restructuring will look like in the coming months. It looks like Atos will avoid bankruptcy with all the support it can get.