Atos confirmed on Friday its objective of reaching a definitive agreement on its financial restructuring by the end of July, after successfully closing the syndication of its short-term financing program.

The technology consulting group says it has closed the syndication of additional tranches of 225 million euros and 350 million euros to support its activities on an interim basis.

It also says it has obtained a waiver from its banks for the 1.5 billion euro term loan, due to mature in 2025.

With regard to new financing, the syndication process for the guarantee of funds to be provided by bondholders has also been finalized.

However, the syndication process for the guarantee of new secured financing, to be provided by banks, has been extended until July 11, in order to take into account possible changes related to bank guarantees, the company states.

In its press release, Atos confirms that the lock-up agreement enabling all creditors to support the restructuring plan should be concluded next week.

The final financial restructuring agreement with the creditors should then be implemented via an accelerated procedure during the week of July 22.

The restructuring operations will then be put in place during the second half of the year, with a view to effective completion by the end of 2024 or during the first quarter of 2025.

Following this new market update, Atos shares lost over 5% on Friday morning on the Paris Bourse, with uncertainty over the success of this restructuring project adding to the low visibility available to the Group following the severe deterioration in its operating activities in recent months.

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