Atos achieves major debt restructuring milestone with consortium agreement

French technology company Atos has recently announced a significant milestone in its financial restructuring efforts. Atos has finalized an agreement with a consortium of banks and bondholders to address its debt challenges. The restructuring plan includes a 233-million-euro capital increase through preferential subscription rights. A substantial portion of Atos' debt, amounting to 2.8 billion euros, will be converted into equity, leading to a total converted debt of 2.9 billion euros. This strategic move is anticipated to reduce the company's net indebtedness by approximately 3.1 billion euros.

The agreement, which was reached on Sunday, represents a crucial advancement towards achieving a comprehensive restructuring agreement by July. It is noteworthy that Atos had recently ended discussions with a consortium led by investor David Layani's Onepoint.

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Atos' successful debt restructuring agreement signifies a positive step towards stabilizing its financial position and ensuring long-term sustainability. By converting a significant portion of its debt into equity, Atos aims to strengthen its financial foundation and enhance its competitiveness in the market. This development underscores the company's commitment to overcoming financial challenges and fostering growth opportunities in the technology sector.