The future of French IT heavyweight Atos is on firmer ground after the company secured funding for its rescue plan by signing a Lock-Up Agreement with creditors, although the restructuring remains subject to certain conditions.
Atos reached agreement earlier this month on a restructuring deal with a group comprising some of its banks and bondholders, and the tech services and consulting biz said today it has secured financing from them of up to 1.675 billion ($1.82 billion), evenly split between banks and bondholders.
Between them, the members of that group hold more than half of the unsecured debt of the company, and have also undertaken to provide further capital increases, if necessary, to enable a significant reduction in the company…
Read the full article at: https://www.theregister.com/2024/07/15/atos_secures_funding_for_rescue/