Market Update
Press Release
Market Update
Paris, France – June 13, 2024 –
Further to its press release dated June 11, 2024, Atos SE
("Atos" or the "Company") has
engaged in discussions with stakeholders on the financial
restructuring proposal submitted by the Onepoint consortium,
composed of Onepoint, Butler Industries and Econocom, and a group
of some of the Company’s financial creditors (the
"Restructuring Proposal") as published by the
Company on June 3, 2024.1
As part of these ongoing discussions, it has
been considered in relation to the participation in the new money
financing of a total amount of €1.5 billion in the form of secured
debt contemplated by the Restructuring Proposal (the “New
Secured Financings”), as well as the €75 million new money
financing in the form of equity allocated to bondholders of Atos
(the “Equity Financings”) in accordance with the
Restructuring Proposal, that:
- creditors under the €1.5 billion
term loan A maturing in January 2025 (the "Term Loan
A") and the €900 million revolving credit facility
maturing in November 2025 (the "RCF") would be
offered the opportunity to participate in the New Secured
Financings exclusively in the form of bank-type loans and
facilities (term loan, new revolving credit facility (RCF), and/or
receivables financing/factoring, as well as through new bank
guarantee lines) on terms which remain to be determined, for a
total amount of €750 million (of which €300 million
guarantees);
- holders of bonds issued by Atos
maturing in 2024, 2025, 2026, 2028 and 2029 (the
"Bonds") would be offered the possibility to
participate in the New Secured Financings exclusively in the form
of one or more bonds to be issued by Atos for a total amount of
€750 million, subject to subscribing the pro rata of their
participation in the Equity Financings - the main terms and
conditions of which also remain to be determined;
- in any event, participation in the
New Secured Financings and Equity Financings described above would
be allocated among the various creditors wishing to participate pro
rata to their holding of Bonds and/or the amount of debt held under
the RCF and/or the Term Loan A on June 14, 2024, after close of
market (the "Record Date"). Any transfer of Bonds
or debt under the RCF and/or Term Loan A after the Record Date
would not enable the transferee to participate in such financing in
respect of the Bonds and/or debt so transferred.
The Company will inform its creditors of the
terms and conditions under which they may participate in the New
Secured Financings, the Equity Financings and the timeframe
according to which they may communicate their intention to
participate.
Besides, in a press release dated 29 April 2024,
the Company indicated that it was in the process of securing an
incremental interim financing for a total amount of €350 million,
redeemable at the latest on the date of completion of its financial
restructuring (the “Incremental Interim
Financing”). The Restructuring Proposal contemplates a
proposal for the Incremental Interim Financing.
As part of this Restructuring Proposal, it was
specified that participation in the Incremental Interim Financing
would be open to:
- The Company's creditors under the
RCF and Term Loan A, up to a maximum amount of €75 million;
and
- Holders of Bonds for the
remainder.
Participation in the Incremental Interim
Financing would be allocated among the creditors wishing to
participate prorata to the amount of their claims under the RCF
and/or the Term Loan A or, as the case may be, their holding of
Bonds as at the Record Date.
The Company invites creditors wishing to
participate in the Incremental Interim Financing to liaise as soon
as possible with either the Company or the advisors to the group of
creditors that submitted the Restructuring Proposal in order to
determine the precise terms and conditions of their
participation.
***
Disclaimer
This document contains forward-looking
statements that involve risks and uncertainties, including
references, concerning the Group’s expected growth and
profitability in the future which may significantly impact the
expected performance indicated in the forward-looking statements.
These risks and uncertainties are linked to factors out of the
control of the Company and not precisely estimated, such as market
conditions or competitors’ behaviors. Any forward-looking
statements made in this document are statements about Atos’s
beliefs and expectations and should be evaluated as such.
Forward-looking statements include statements that may relate to
Atos’s plans, objectives, strategies, goals, future events, future
revenues or synergies, or performance, and other information that
is not historical information. Actual events or results may differ
from those described in this document due to a number of risks and
uncertainties that are described within the 2023 Universal
Registration Document filed with the Autorité des Marchés
Financiers (AMF) on May 24, 2024 under the registration number
D.24-0429. Atos does not undertake, and specifically disclaims, any
obligation or responsibility to update or amend any of the
information above except as otherwise required by law. This
document does not contain or constitute an offer of Atos’s shares
for sale or an invitation or inducement to invest in Atos’s shares
in France, the United States of America or any other
jurisdiction.
This document includes information on specific
transactions that shall be considered as projects only. In
particular, any decision relating to the information or projects
mentioned in this document and their terms and conditions will only
be made after the ongoing in-depth analysis considering tax, legal,
operational, finance, HR and all other relevant aspects have been
completed and will be subject to general market conditions and
other customary conditions, including governance bodies and
shareholders’ approval as well as appropriate processes with the
relevant employee representative bodies in accordance with
applicable laws.
About Atos
Atos is a global leader in digital
transformation with c. 94,000 employees and annual revenue of c. €
11 billion. European number one in cybersecurity, cloud and
high-performance computing, the Group provides tailored end-to-end
solutions for all industries in 69 countries. A pioneer in
decarbonization services and products, Atos is committed to a
secure and decarbonized digital for its clients. Atos is a SE
(Societas Europaea), and listed on Euronext Paris.
The purpose of Atos is to help design the future
of the information space. Its expertise and services support the
development of knowledge, education and research in a multicultural
approach and contribute to the development of scientific and
technological excellence. Across the world, the Group enables its
customers and employees, and members of societies at large to live,
work and develop sustainably, in a safe and secure information
space.
Contacts
Investor relations: David Pierre-Kahn | investors@atos.net | +33
6 28 51 45 96
Individual shareholders: 0805 65 00 75
Press contact: globalprteam@atos.net
1 The restructuring proposal of the Onepoint
Consortium, composed of Onepoint, Butler Industries and Econocom,
and a group of some of the Company’s financial creditors is
available at the following link: https://atos.net/en/investors
- PR - Market Update - June 13, 2024
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