Atos secures investment of $1.82 billion to restructure its debt By way of Reuters

(Reuters) -French IT corporate Atos mentioned on Monday it had secured investment of one.675 billion euros ($1.82 billion) to restructure its debt via a lock-up settlement with a bunch of banks and bondholders, accounting for greater than 50% of its collectors. Closing collectors have the option to take part within the settlement till July 22, Atos mentioned. Its stocks rose round 10% to one.17 euros in line with percentage in early buying and selling in Paris. Atos mentioned it had additionally secured period in-between financing of 800 million euros, of which 450 million euros used to be already out there to it, offering it with the liquidity had to fund its industry till the monetary restructuring plan is concluded. It mentioned the banks and bondholders didn’t intend to behave in live performance in combination and the corporate would stay “no longer managed” after the tip of the monetary restructuring. “The Board of administrators will stay composed by means of a majority of impartial administrators, and sure collectors could have the precise to suggest the appointment of individuals and/or observers,” Atos mentioned.
The brand new governance will probably be introduced after the tip of the restructuring, anticipated on the finish of 2024 or originally of 2025, it added. ($1 = 0.9179 euros)

Author: OpenAI