Atos Seeks €1.2 Billion in Equity and Debt for Rescue Plan

Firm lined up interim financing with banks, French government
Atos aims to extend remaining debt maturities by five years

WATCH: Atos is seeking €600 million in cash and another €600 million in credit lines and loan guarantees to fund the business through 2025. Benoit Berthelot reports.Source: Bloomberg

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By Benoit Berthelot and Irene Garcia Perez

April 9, 2024 at 5:31 AM UTC

Updated on

April 9, 2024 at 11:55 AM UTC

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Embattled French IT company Atos SE is seeking €600 million ($651 million) in cash and another €600 million in credit lines and loan guarantees to fund the business through 2025, according to a restructuring plan presented to creditors.

Atos is aiming to cut its debt by €2.4 billion by 2026 and wants to extend its remaining debt maturities by five years, the company said in a statement on Tuesday. Bloomberg previously reported it was seeking at least €1 billion in fresh funds and to slash its debt by about half.