Atos Market Update – July 24, 2024
Press release
Market Update
The Court opens the accelerated safeguard proceedings to implement Atos pre-arranged financial restructuring plan
- Decision taken by the Court considering the strong level of support from the financial creditors
- Accelerated safeguard proceedings only impacts financial debt (RCF, TL, bonds) and share capital of Atos SE; no impact on suppliers, employees and other claims held on Atos SE
- Court hearing for the approval of the accelerated safeguard plan expected on October 15, 2024
- Following Court approval, implementation of the plan through several capital increases and debt issuances from November 2024 until January 2025
Implementation of the pre-arranged financial restructuring plan
- €800 million short term interim financing available to the Company secured until closing and to be refinanced with the €1,750
million New Financings1 to be put in place before year-end 2024
Strong participation of the Bondholders2 to the New Financings
- Up to €837.5 million new bond and €75 million backstop in cash of the Rights Issue underwritten by 67% of the Bondholders
Jean Pierre Mustier appointed Atos CEO in addition to his role as Chairman
Paris, France – July 24, 2024 – Atos SE (“Atos” or the “Company”) announces today the opening of an accelerated safeguard proceedings by the
specialized Commercial Court of Nanterre, for an initial period of two months, which may be renewed for two additional months.
The Court opens the accelerated safeguard proceedings to implement Atos pre-arranged financial restructuring plan
As announced in the press release of July 15, 2024, the purpose of this procedure is to enable the Company to implement its financial restructuring plan in accordance with the Lock-Up Agreement3 reached between the Company, a group of banks and a group of bondholders.
The Court has estimated that, with the level of financial creditor support and the information provided by the Conciliator during the hearing, the financial restructuring plan should be successfully approved through the accelerated safeguard proceedings.
In this context, the Specialized Commercial Court of Nanterre appointed:
(i) SELARL FHB, represented by Maître Hélène Bourbouloux, and SELARL AJRS, represented by Maître Thibaut Martinat, as judicial administrators; and
(ii) SELARL C. Basse, represented by Maître Christophe Basse, and Alliance, represented by Maître Gurvan Ollu, as creditors’ representatives.