PARIS (Reuters) -French technology company Atos (ATOS.PA) has reached an agreement with a group of banks and bondholders on the terms of its debt restructuring, the company said on Sunday.
The restructuring plan includes a contribution of 233 million euros ($250 million) through a capital increase with preferential rights, the company said in a statement.
Approximately 2.8 billion euros of Atos’ debt will be converted into equity, bringing the total amount of debt converted to 2.9 billion euros. That will reduce Atos’ net debt by about 3.1 billion euros, the statement said.
The company said Sunday’s agreement was an “important milestone toward reaching a final restructuring agreement by July.”
Atos announced last Wednesday that a consortium led by Onepoint from investor David Layani had withdrawn from discussions about the restructuring.
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