Following the update made on January 3, 2024, Atos SE (“Atos” or the “Company”) informs the market about its refinancing plan and its contemplated disposals.
Refinancing plan
Atos has entered into discussions with its banks with a view to reaching a refinancing plan for its financial debt. Following these initial discussions, it appeared pertinent to request the appointment of a mandataire ad hoc in order to frame these discussions and facilitate a rapid outcome. The mandataire ad hoc is an independent third party whose mission would be to assist the Company in its discussions, in order to converge on an appropriate financial solution as soon as possible, in the Company’s corporate interests.
The mandat ad hoc is an amicable procedure allowing negotiations to be conducted within a confidential framework. The mandat ad hoc would only concern the financial debt of the Company and would have no impact on the employees, customers and suppliers of the group.
Furthermore, as announced on January 3, 2024, the first 6-month extension of the €1.5 billion term loan A took effect on January 29, 2024.
Contemplated disposals and capital increase
As indicated at the Market Update on January 3, 2024:
Discussions with EPEI on the sale of Tech Foundations continue (including required conditions to release their commitment to participate in a reserved capital increase), there is no certainty that these negotiations will result in an agreement.
The Company is in due diligence phase with Airbus in connection with the potential sale of its BDS (Big Data & Security) business.
Also, and given the changes in market environment, the conditions of the initially planned €720m rights issue are no longer applicable and the standby underwriting commitment provided by BNP Paribas and J.P. Morgan is no longer in effect.
Atos will inform the market in due course of the progress of the discussions with its banks, its new refinancing plan, its contemplated disposals, as well as the possible changes in its capital structure which could result in a dilution of the existing shareholders, depending on the agreement on the refinancing structure.
