French IT services and consulting company Atos has secured €1.675bn from banks and bondholders for its financial restructuring.
A Lock-Up Agreement, supported by most financial creditors, covers all key terms of the plan.
Jean-Pierre Mustier, Chairman of Atos’ Board of Directors said: “This is a key milestone in our financial restructuring process ensuring the sustainability of Atos’ operations in the best interest of our employees and clients.”
CEO Paul Saleh added: “This puts us a step closer to filing the plan with the Tribunal of commerce by end of July as originally targeted.
“We have also secured near-term liquidity for the Company as well as a long-term financing necessary to fund the business. With this plan, Atos will have an improved financial position and a stronger credit profile.”
