Atos seeks 600 million euros in cash as part of refinancing plan

:French IT consulting company Atos needs to take 600 million euros ($651 million) in money to fund its alternate in 2024 and 2025, it said on Tuesday as it outlined its refinancing plans.

The know-how huge, which manages files and cybersecurity for France’s nuclear industry and the upcoming Olympic Games, said in March it modified into attempting for long-established ground with creditors over debt that stood at 4.65 billion euros on the stay of final year.

Atos plans to take 600 million euros thru debt and equity from existing stakeholders or third social gathering investors, who can post financing proposals including contemporary money by April 26.

“This would permit us to achieve a refinancing agreement with monetary creditors by June 2024,” CEO Paul Saleh said in a call with journalists.

Debt maturities, including 3.65 billion euros due by the stay of 2025, would be prolonged by 5 years below the planned agreement, it said.

Atos additionally plans to take 300 million euros in contemporary revolving credit lines and 300 million euros in contemporary monetary institution guarantees.

France has pledged to grant another 50 million euro mortgage to Atos, the Ministry of Economy and Finance said. That can provide the dispute a stronger whisper over strategic activities on the company that specialises in look for-to-AI property deemed strategic by the authorities.

Atos has been going thru mounting pressures after profit warnings, a revolving door of CEOs and collapses of doubtless asset sales.

Its shares spiked at market delivery but rapid reversed direction to alternate 3.3 per cent decrease at 0733 GMT.

($1 = 0.9211 euros)