Atos Crisis Nears End With Creditors’ €2.9 Billion Debt Swap
- Creditors have agreed to inject equity and new debt into Atos
- French IT firm’s agreement with Onepoint fell apart last week
The Atos SE headquarters in the Bezons suburb of Paris, France.
Photographer: Anita Pouchard Serra/BloombergThis article is for subscribers only.
Atos SE’s creditors are set to take control of the embattled French IT services provider, following a months-long battle over the future of a company once hailed as the rising star of the country’s tech industry.
Bondholders and lenders have agreed to convert €2.9 billion ($3.1 billion) of loans and bonds into equity, provide as much as €1.68 billion of new debt and to inject €233 million in new equity, either themselves or alongside a private industrial investor, the company said in a statement on Sunday.