Atos seeks over $1 billion in new funds, Bloomberg reports

:Crisis-hit French IT firm Atos has told collectors and bondholders it’s miles looking for extra than 1 billion euros ($1.09 billion) in recent funds, Bloomberg Files reported on Monday, citing other folks with direct recordsdata of a brand recent restructuring concept.

Atos is aiming to convert about half of its $5 billion debt into fairness as a part of the concept disclosed accurate through a confidential meeting on Monday, Bloomberg talked about.

Atos has now not made directly sure who would inject cash within the corporate and the draw in which closing debt terms would possibly be renegotiated, the Bloomberg document added.

An Atos spokesperson did now not reply to an e-mail looking for pronounce.

A historical French top CAC 40 blue chip, Atos has considered its stock note lose extra than 90 per cent of its price within the previous three years after a series of strategic missteps, operational setbacks, and governance crises.

Given Atos’ cybersecurity and good-computing actions, the French authorities is closely following the corporate’s fate. High Minister Gabriel Attal talked about final week declaring the corporate’s monetary stability used to be a authorities priority.

($1 = 0.9211 euros)