Plans to file restructuring plan with court in July (Il Sole 24 Ore Radiocor) - Paris, 15 Jul - The troubled French information technology group Atos said that it obtained 1.675 billion euros in new secured financing from a group of banks and bondholders to fund its restructuring plan.

'We have successfully reached an agreement on our financial restructuring plan, with 1.675 billion euros of new financing secured and a lock-up agreement with a group of banks and a group of bondholders, which puts us a step closer to filing the plan with the tribunal of commerce by end of July as originally targeted. We have also secured near-term liquidity for the company as well as a long-term financing necessary to fund the business. With this plan, Atos will have an improved financial position and a stronger credit profile," said Paul Saleh, the CEO.

Atos reiterated that its restructuring will result in a "massive dilution" for existing shareholders, who should, in the absence of participation in the proposed financial restructuring capital increases, hold less than 0.1% of the share capital.

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(RADIOCOR) 15-07-24 08:35:28 (0124) 5 NNNN