Atos Seeks €1.2 Billion in Cash and Loans in Restructuring Offer [BNN Bloomberg (Canada)]
AIRBUS SE UNSP/ADR (EADSY)
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Source: BNN Bloomberg
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. Atos, once hailed as the rising star of France's tech industry, is facing a wall of debt — and it's running out of options for bringing it down. The firm has €3.65 billion of debt due by the end of next year. Meanwhile, talks to sell parts of its business to Czech billionaire Daniel Kretinsky's EPEI and Airbus SE have failed. Shares have fallen by more than 97% in the past seven years, with a series of supply chain constraints, accounting errors, profit warnings and industry-wide headwinds wiping out nearly €12 billion in market value. Atos said it has lined up €400 million in interim financing from a group of banks and bondholders, with an addit
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News
- French government steps in to rescue Atos, once renowned as the nation's top tech firm [Fortune]Fortune
- Atos Seeks More Cash, to Slash Debt Further in Rescue Update [Yahoo! Finance]Yahoo! Finance
- Atos Boosts Cash Needs to €1.7 Billion, Seeks to Cut More Debt [BNN Bloomberg (Canada)]BNN Bloomberg
- French Government Makes Offer for Part of Atos, Le Maire Says [BNN Bloomberg (Canada)]BNN Bloomberg
- Atos to Seek More Cash, Delays Deadline for Creditor Proposals [BNN Bloomberg (Canada)]BNN Bloomberg