French technology company Atos (ATOS.PA) announced on Sunday that it has reached an agreement with a group of banks and bondholders regarding the terms of its debt restructuring. According to the company, the restructuring plan includes a 233-million-euro ($250 million) capital increase with preferential subscription rights.
The plan will convert approximately 2.8 billion euros of Atos’ debt into equity, totaling 2.9 billion euros in converted debt. This conversion will reduce Atos’ net indebtedness by about 3.1 billion euros.
The company described Sunday’s agreement as a “significant milestone towards reaching a final restructuring agreement by July.” Atos also mentioned that a consortium led by investor David Layani’s Onepoint had withdrawn from the restructuring discussions last Wednesday.
