DeBeurs.nl

DeZwarteRidder 4 juli 2024 12:22

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The Company reminds that the following are invited to participate in the additional tranches of €225 million and €350 million of facilities and the €75 million factoring program:

All the holders of the following notes as at June 14, 2024, after close of market (the “Record Date”) (the “Bondholders”):
2024 Exchangeable Notes: €500 million of zero per cent. exchangeable bonds due 6 November 2024, issued pursuant to terms and conditions dated 6 November 2019 admitted to clearing under number ISIN: FR0013457942;
2025 Notes: €750 million 1.75 per cent. bonds due 7 May 2025, issued pursuant to a prospectus dated 5 November 2018 admitted to clearing under number ISIN: FR0013378452;
2026 Notes: €50 million NEU MTN (Negotiable European Medium-Term Note) due 17 April 2026, issued pursuant to the €600,000,000 Negotiable European Medium-Term Note program admitted to clearing under number ISIN: FR0125601643;
2028 Notes: €350,000,000 2.50 per cent. bonds due 7 November 2028, issued pursuant to a prospectus dated 5 November 2018 admitted to clearing under number ISIN: FR0013378460;
2029 Notes: €800 million 1.00 per cent. sustainability-linked bonds due 12 November 2029, issued pursuant to a prospectus dated 10 November 2021 admitted to clearing under number ISIN: FR0014006G24;

All the lenders under the following credit facilities as at the Record Date (the “Banks”):
Term loan A: €1.5 billion term loan facility agreement dated July 2022 maturing in January 2025;
RCF: €900 million revolving facility agreement dated November 2014 maturing in November 2025.

The additional tranche of €225 million of revolving credit facility (to be drawn shortly after close of syndication) will be allocated between Banks and Bondholders as follows:

€125 million to be provided by Banks;
€100 million to be provided by Bondholders.

The additional tranche of €350 million of revolving credit facility (to be drawn by end of July, subject, inter alia, to signing of a lock-up agreement in respect of the financial restructuring and the entry into a dedicated accelerated procedure[10]) will be allocated between Banks and Bondholders as follows:

€175 million to be provided by Banks;
€175 million to be provided by Bondholders.

As part of the reduction of the factoring program agreed in principle to €75 million, the participation in this program will be reallocated among the Banks with effect shortly after the closing of the syndication.

All the Banks and Bondholders willing to participate in these additional tranches of €225 million and €350 million of facilities and in the €75 million factoring program are invited to formalize their commitment by filling-in the following form by July 3rd, 2024 at 1.00 p.m Paris time via: forms.kroll.com/orbeon/fr/is/atos-for...

Banks and Bondholders who have already participated and completed their form will be able to modify their response form by July 3rd, 2024 at 1:00 p.m. Paris time. To this end, Banks and Bondholders willing to modify their earlier response are invited to contact Kroll to have their initial form deleted. They will then be able to formalize a new commitment by filling-in a new form via the same link: forms.kroll.com/orbeon/fr/is/atos-for...

Following its press release dated June 20, 2024, Bondholders willing to participate in the additional tranches of €225 million and €350 million of facilities will have to provide proof of holding as at the Record Date to Kroll and to sign a cooperation agreement.

Information concerning the additional tranches of €225 million and €350 million of facilities and the €75 million factoring program to be provided (including a new version of the agreement between the Company and its financial creditors) is accessible on the following website: deals.is.kroll.com/atos.

Opening of the syndication period for New Secured Financings of between €1.5 billion and €1.675 billion as of today

As announced in its press release of June 13, 2024 and in connection with the provision of secured new money debt under the Agreement in an amount from €1.5 billion to €1.675 billion in the form of new secured financings (the “New Secured Financings”) as well as €75 million in the form of backstop in cash of the Rights Issue (the “Equity Financings Backstop”, together with the New Secured Financings, the “New Financings”), Atos announces today the opening of a first syndication period for the New Financings.

Are invited to participate in the New Financings all the Bondholders and Banks as at the Record Date.

The New Secured Financings will be allocated between the Banks and the Bondholders as follows:

between €750 million and €5 million by the Banks (including between €250 million and €337.5 million in the form of term loans, €250 million in RCF and €250 million in bank guarantees);
between €750 million and €5 million by Bondholders in the form of a new bond issue.

DeZwarteRidder 4 juli 2024 12:22

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Equity Financings Backstop may only be subscribed by Bondholders (for the avoidance of doubt, the Optional Additional Equity will be open to all Bondholders and Banks).. Bondholders willing to participate in the New Secured Financings will be required to participate in the Equity Financings for an equivalent proportion.

For Bondholders, syndication of the New Financings will be carried out as follows;

until July 3rd, 2024 at 1.00 p.m. Paris time, Bondholders have the option:
to subscribe, pro rata to their Bonds’ holdings at the Record Date, to the New Secured Financings allocated to Bondholders and to backstop, for an equivalent proportion, the subscription to the Equity Financings;
to underwrite, pro rata to their Bonds’ holding at the Record Date, the portion of New Secured Financings allocated to Bondholders not subscribed at the end of the syndication period.
for a period of ten business days following the signature of the lock-up agreement, Bondholders will have the opportunity to subscribe, pro rata only to their Bonds’ holding at the Record Date, to the New Secured Financings allocated to Bondholders.

For the Banks, syndication of New Equity Financings will be carried out as follows:

until July 5, 2024 at 11:59 p.m. Paris time, the Banks have the option of backstopping, underwriting and contributing all or part of the New Secured Financings allocated to the Banks (i.e. up to €5 million);
for a period of ten business days following signature of the lock-up agreement, the Banks that did not participate in the first phase will be able to subscribe to the New Secured Financings, within the limit of their pro rata only to their Loans’ holdings at the Record Date allocated to Banks.

All Banks and Bondholders wishing to participate and backstopping the subscription to this New Financings under the conditions set out above are invited to formalize, by July 3rd, 2024 1.00 p.m. Paris time in respect of the Bondholders and by July 5, 2025 11:59 p.m. Paris time in respect of the Banks, their commitment by completing the following form: forms.kroll.com/orbeon/fr/is/atos-for...

A new syndication period will be opened after signature of the lock-up agreement to allow all Bondholders and Banks to participate in these financings on a pro rata basis.

Bondholders wishing to participate in these New Financings will be required to provide Kroll with proof of their ownership as at the Record Date and to sign a cooperation agreement.

The terms and conditions of the New Financings are set out in the Agreement published on the Company’s website. Further information concerning the New Financing will be available to Banks and Bondholders via the following website: deals.is.kroll.com/atos.

Next steps

As indicated in its press release of June 26, 2024, the Company expects that:

The lock-up agreement allowing all financial creditors to support the proposed restructuring plan would be expected during the week starting July 8; and
The accession to the lock-up agreement would be open from the week starting July 8 to the week ending July 22.

The definitive financial restructuring agreement with the financial creditors would then be implemented through a dedicated accelerated procedure[11] from the week starting July 22.

The restructuring operations will then be implemented during the second half of 2024 with a view to effective completion by the end of 2024 / Q1 2025.

DeZwarteRidder 5 juli 2024 13:22

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De worst die Atos de aandeelhouders dus lijkt voor te houden is dat ze voor een relatief bescheiden investering van €233 mln een belang kunnen krijgen dat grofweg €1,5 mrd waard zou zijn.

Het blijft een risico, natuurlijk. Atos is niet voor niks in de problemen gekomen. Het bedrijf heeft te veel overnames gedaan. Wie zegt dat het klaar is met de afwaarderingen? Maar de keuze tussen vrijwel zeker alles kwijt zijn of een ‘bescheiden’ gokje wagen op een mogelijk vette worst is niet ingewikkeld.

Reageren? Mail naar Bartjens@fd.nl

Lees het volledige artikel: fd.nl/financiele-markten/1522222/het-...

DeZwarteRidder 11 juli 2024 10:40

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IT-bedrijf Atos is volop in het nieuws, of het dat nu wil of niet. De beoogde overname van het Franse bedrijf lijkt eindelijk een realiteit te worden. In deze Techzine-liveblog lees je over de nieuwste ontwikkelingen omtrent Atos.

5 juli – Het Franse techbedrijf heeft nieuwe financiering geregeld. Via twee losse afspraken komt er op de korte termijn geld beschikbaar om wat lucht te krijgen. “Deze extra tranches van 225 miljoen euro (243,41 miljoen dollar) en 350 miljoen euro aan doorlopende kredietfaciliteiten zijn onderworpen aan een wijziging van de eerder verstrekte faciliteiten door een groep obligatiehouders, die naar verwachting binnenkort zal worden ondertekend”, aldus Atos.

Het is de bedoeling om nog een groter herstructureringsplan rond te krijgen. Atos bevestigt nogmaals later deze maand een finale overeenkomst te bereiken rond dit plan. Ook wordt er gewerkt aan een deal met banken over een bedrag van 1,5 miljard euro.

1 juli – De obligatiehouders en kredietverstrekkers van Atos hebben een overeenkomst met het bedrijf bereikt. 2,9 miljard euro aan schulden worden omgezet in aandelen, terwijl 233 miljoen euro aan Atos zal worden verstrekt. Er blijft 1,68 miljard euro schuld openstaan, meldt Bloomberg. Een rechtbank gespecialiseerd in commerciële zaken moet nog wel goedkeuring verlenen.

Mocht er goedkeuring komen, dan zou EPEI van zakenman Daniel Kretinsky buiten de boot vallen. Die investeringsgroep is nog de enige externe optie voor financiering van Atos, nadat Onepoint vorige week was afgehaakt en verschillende andere partijen al eerder. Het lijkt er momenteel op dat Atos liever de huidige investeerders de macht overhandigt dan om in zee te gaan met een andere partij.

26 juni – Nadat eindelijk duidelijk leek te worden wie Atos over zou nemen, is het plan opnieuw gewijzigd. Een overnamedeal door Onepoint is afgeketst. EP Equity Investment (EPEI) van Tsjechisch zakenman Daniel Kretinsky is bereid opnieuw te onderhandelen over een overname. Eerder koos Atos voor Onepoint boven EPEI omdat Onepoint van plan was Atos bij elkaar te houden onder het zogeheten “One Atos”-initiatief. Nu blijft het nog altijd giswerk hoe het nieuwe Atos eruit gaat zien en of het bedrijf wordt opgesplitst.

21 juni – Wie de beurswaarde van Atos de laatste dagen in de gaten houdt, ziet een opmerkelijke fluctuatie hierin. Op donderdag ging het Atos-aandeel 46 procent in de lift. Atos-aandelen dreigen echter nagenoeg waardeloos te worden nu de Franse IT-leverancier heeft aangekondigd nieuwe aandelen te creëren om de schuld te reduceren.

Deze frappante koersstijging heeft twee oorzaken, aangestipt door Bloomberg. Zogeheten ‘short-sellers’, die erop gokten dat Atos verder in waarde zou zakken, hebben inmiddels massaal hun winsten laten uitkeren. Ondertussen praten online investeerders op Boursorama.com over weinig anders dan Atos, die tegen de stroom in zwemmen van de short-sellers en speculeren op forse koersstijgingen. Zij stellen dat de aandelen van het IT-bedrijf te laag worden ingeschat. In tegenstelling tot eerdere ‘meme stock’ GameStop, dat door gebruikers van het Reddit-subforum WallStreetBets een heropleving kreeg, komen de short sellers echter niet in de problemen. Dit is omdat deze individuen doorgaans al veel eerder hun ‘short bets’ hadden ingezet, toen Atos nog veel meer waard was.

14 juni – De Franse overheid doet een bod van 700 miljoen euro op strategisch relevante onderdelen van Atos. De zogeheten BDS-business unit is het doelwit. Dit onderdeel richt zich op supercomputers, mission-critical systemen en cybersecurity.

DeZwarteRidder 12 juli 2024 14:21

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De koers doet het erg goed. Nu 1,03.

kassa! 13 juli 2024 08:58

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quote:
DeZwarteRidder schreef op 12 juli 2024 14:21:
De koers doet het erg goed. Nu 1,03.

Heb je toch de gok genomen om in te stappen?

DeZwarteRidder 13 juli 2024 09:39

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quote:
kassa! schreef op 13 juli 2024 08:58:
[...]Heb je toch de gok genomen om in te stappen?

Atos is een betere gok dan Ebusco, mits het verhaal van Bartjens wordt uitgevoerd.

DeZwarteRidder 15 juli 2024 10:35

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Atos vliegt weer de pan uit.

bergje 15 juli 2024 10:46

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atos gaat weer goed,met kleine stapjes omhoog het moet niet te vlig gaan.vandaag naar de 1,20

bergje 15 juli 2024 10:59

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hardlopers zijn doodlopers

DeZwarteRidder 15 juli 2024 12:42

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De koers van Atos is niet echt meer van belang; het gaat om de emissievoorwaarden.

DeZwarteRidder 16 juli 2024 09:55

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Er worden steeds meer mensen wakker.....!!!!

kassa! 16 juli 2024 10:10

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quote:
DeZwarteRidder schreef op 16 juli 2024 09:55:
Er worden steeds meer mensen wakker.....!!!!

Mooi dat jij op tijd bent ingestapt. Het is je gegund.

DeZwarteRidder 23 juli 2024 15:05

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Market Update

Successful funding of the Atos financial restructuring plan

Targeted New Secured Financings1 of €1.675 billion committed by a group of banks and a group of bondholders

Lock-Up Agreement2 reached between the Company, a group of banks and a group of bondholders covering all key terms of the financial restructuring plan

Supported by a majority of the financial creditors
Remaining creditors are given the opportunity to participate in the Lock-Up Agreement until July 22, 2024

Interim financing of €800 million secured, providing the liquidity necessary to fund the business until close of the financial restructuring plan

€450 million already accessible by Atos

Next steps:

New Secured Financings backstopped by a group of bondholders to be syndicated until July 22, 2024, 6:00 p.m. CET to allow remaining Bondholders at the Record Date to take their pro rata share in the New Financings
Opportunity to participate in the Lock-Up Agreement offered until July 22, 2024 to remaining creditors not already a party to this Agreement
As previously announced, targeting the opening of an accelerated safeguard proceedings during the week of July 22, 2024 with the purpose of obtaining a Court approval and implementing the financial restructuring plan

Paris, France – July 15, 2024 – Atos SE (“Atos” or the “Company”) reaches another important step in its financial restructuring and announces today the successful funding of its financial restructuring plan, as well as a Lock-Up Agreement reached with a group of banks and a group of bondholders (the “Lock-Up Agreement”) willing to support the agreement on the terms of the financial restructuring announced on June 30, 2024 (the “Agreement on the Restructuring Terms”).

Jean-Pierre Mustier, Chairman of Atos’ Board of Directors said: “The signing of a Lock-Up Agreement with a majority of our main financial creditors is a key milestone in our financial restructuring process and I want to thank the entire management team for their outstanding work over the past few months. This important step ensures the sustainability of Atos’ operations in the best interest of our employees and clients.”

Paul Saleh, Atos’ Chief Executive Officer declared: “We have successfully reached an agreement on our financial restructuring plan, with €1.675 billion 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.”

Successful funding of the Atos financial restructuring plan

Targeted New Secured Financing of up to €1.675 billion committed by a group of banks and a group of bondholders

Following its press release dated July 5, 2024, Atos announces that the targeted New Secured Financings of up to €1.675 billion, as part of the syndication for the backstop of the New Financings, are reached and committed by a group of banks for 50% and a group of bondholders for 50%.

The New Secured Financings are allocated between the Banks3 and the Bondholders4 at June 14, 2024, after close of market (the “Record Date”) as follows:

Up to €837.5 million by the Banks (consisting of up to €337.5 million in the form of a term loan, circa €440 million in Revolving Credit facility (RCF) and circa €60 million in bank guarantees);
Up to €837.5 million by Bondholders in the form of a new bond issue.

In addition to their €837.5 million commitment, Bondholders at the Record Date will also be providing €75 million in the form of backstop in cash of the Rights Issue (together the “Bondholders New Financings”).

New Secured Financings backstopped by a group of bondholders to be syndicated until July 22, 2024, 6:00 p.m. CET to allow remaining Bondholders as at the Record Date to take their pro rata share in the New Financings

As announced in its press releases of June 30, 2024 and July 5, 2024, a syndication period for the backstop of the Bondholders New Financings has already been completed allowing all Bondholders as at the Record Date to commit before July 3, 2024 to backstop these financings. This syndication process allowed to fully secure the funding of the Bondholders New Financings.

In order to allow the Bondholders at the Record Date (who have not yet committed to backstop the Bondholders New Financings) to participate in the financial restructuring, the Company announces today the opening of a new syndication period during which these Bondholders will be able to subscribe, pro rata only to their Bonds’ holding at the Record Date, to the Bondholders New Financings.

All the Bondholders at the Record Date that have not already participated in the backstop but wish to subscribe their pro rata share of the Bondholders New Financings are therefore invited to formalize their commitment, by July 22, 2024 6:00 p.m. CET by completing the following form: forms.kroll.com/orbeon/fr/is/atos-bh-...

DeZwarteRidder 23 juli 2024 15:05

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The Company reminds that the subscription of these New Financings is opened only to the Bondholders as at the Record Date.

Bondholders at the Record Date willing to participate, for their pro rata share, in the new bond issue are required to participate also in the €75 million backstop in cash of the Rights Issue for an equivalent proportion.

The terms and conditions of the New Financings are set out in the restructuring term sheet published on the Company’s website and in the Lock-Up Agreement. Further information concerning the New Financings is available to Bondholders at the Record Date via the following website: deals.is.kroll.com/atos.

Lock-Up Agreement reached between the Company, a group of banks and a group of bondholders covering all key terms of the financial restructuring plan

As announced in its press release of June 30, 2024, the members of the group of bondholders and the members of the group of banks, together holding more than 50% of the unsecured debt of the Company, have undertaken to subscribe, in accordance with the stipulations of the Agreement on the Restructuring Terms and the Lock-Up Agreement, each as far as they are concerned, to several successive capital increases, if necessary in the form of a backstop, enabling a significant reduction in the Company’s net financial debt in parallel with the contributions of new secured financings.

As a reminder, these operations include:

A rights issue with maintenance of the preferential subscription rights for existing shareholders, for an amount of €233 million, at a reduced subscription price compared to the Equitization Capital Increases (to the extent legally permissible), with €75 million in cash backstopped by bondholders participating in the new financings (described below) and €100 million backstopped by the creditors participating in the new financings (the “Participating Creditors”) by set off against the portion of their respective debts (the “Rights Issue”), any cash proceeds resulting from the subscription to this Rights Issue will be kept in full by the Company for the purpose of financing its business operations;

If the €100 million backstop by set-off against their respective debts provided by the Participating Creditors in the Rights Issue is not called up in full, the amount remaining to be subscribed shall be equitized on terms similar to those for the Rights Issue, through a capital increase without preferential subscription right reserved to them (with, if applicable5, a priority period (délai de priorité) for the benefit of existing shareholders), by way of debt equitization (the “Potential Capital Increase”). As part of the Potential Capital Increase, the Participating Creditors will also have (i) the option to subscribe for an additional amount in cash of up to €75 million (the “Optional Additional Equity”) and (ii) the option to equitize part of their debt in proportion to their participation in the Additional New Money Debt (as defined below).

The equitization of €2.8 billion (in addition to the €100 million equitization mentioned in the paragraph above) of Atos’ financial debt increased by the amount of accrued and unpaid interests due to Atos’ financial creditors as from the opening of the accelerated safeguard procedure, through two share capital increases without preferential subscription right, one reserved to the Participating Creditors (with, if applicable6, a priority period (délai de priorité) for the benefit of existing shareholders), the other reserved to creditors not participating in the new financing (the “Non-Participating Creditors”) (with, if applicable7, a priority period (délai de priorité) for the benefit of existing shareholders) (the “Equitization Capital Increases”). The Equitization Capital Increase reserved to Non-Participating Creditors will be offered on less favorable conditions than the one offered to Participating Creditors. Any cash proceeds resulting from the subscription by existing shareholders to these Equitization Capital Increases under their priority rights will be used in full to repay the Company’s relevant unsecured financial creditors at par value in due proportion. The remaining debt of €1.95 billion that will not be equitized will be reinstated with new terms and an extended maturity schedule.

(together the “Financial Restructuring Capital Increases”)

A contribution between €1.5 billion and €1.675 billion of new secured financings (new money debt) (depending on the amount of cash subscriptions to the Rights Issue and of the Optional Additional Equity as part of the Potential Capital Increase) to be subscribed in equivalent proportions by (i) the Banks (as defined in Schedule 1) at the Record Date and (ii) the Bondholders (as defined in Schedule 1) at the Record Date. It being specified that the new secured financings will be increased by an amount (split 50%/50% between the participating Banks and Bondholders) corresponding to the difference between €250 million and the total amount of cash subscriptions to the Rights Issue and, if applicable, to the Potential Capital Increase (including the Optional Additional Equity, but excluding the cash proceeds resulting from the subscription by existing shareholders to the Potential Capital Increase under their priority rights which will be used to repay the Company’s relevant unsecured financial creditors at par value in due proportion to the portion of their debt equitized under this Potential Capital Increase) (the “Additional New Money Debt”).

The Company reminds that the implementation of the Agreement on the Restructuring Terms will result in massive dilution for Atos 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.

DeZwarteRidder 23 juli 2024 15:08

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Existing shareholders (for their current shareholding) Existing shareholders (for the shares subscribed under the €233 million Rights Issue) Financial creditors
100% participation in the €233 million Rights Issue8 0.05% 25.83% 74.12%
0% participation in the €233 million Rights Issue 0.06% - 99.94%

Opportunity to participate in the Lock-Up Agreement offered until July 22 to remaining creditors not already a party to this Agreement

The terms and conditions of the Lock-Up Agreement include, in particular, an undertaking by the signatories to support and carry out any steps or actions reasonably necessary to implement and complete the financial restructuring in accordance with the Agreement on the Restructuring Terms and the Lock-Up Agreement and, accordingly, to execute the required contractual documentation. Under these terms and conditions, the Atos debt held by the signatories will remain transferable during the period of implementation of the financial restructuring, subject to several conditions including the transferee being committed in the same terms by the Lock-Up Agreement.

Financial creditors holding the Company’s unsecured debt, as described in Schedule 1, will have the option of accessing to the Lock-Up Agreement until July 22, 2024 by contacting Kroll, acting as information and calculation agent under the Lock-Up Agreement (the “Agent”), for the attention of Victor Parzyjagla and/or Thomas Choquet, at the following email address atos@is.kroll.com, subject to compliance with the terms and conditions set out in the Lock-Up Agreement.

In consideration for the undertakings given in the Lock-Up Agreement, the members of the group of bondholders, the members of the group of banks and any other Non-Secured Financial Creditors (as defined in Schedule 1) who have signed or acceded to the Lock-Up Agreement before July 19, 2024 6:00 p.m. CET and unconditionally accepted its terms and conditions will receive, under the conditions described in the Lock-Up Agreement, an early accession fee of 50 basis points calculated on the nominal value of the relevant amounts of the unsecured debt they hold (the “Early Accession Fee”).

Non-Secured Financial Creditors who have not signed or acceded to the Lock-Up Agreement prior to July 19, 2024 6:00 p.m. CET but who will sign or accede to it by the Cut-Off Date (as defined below) and unconditionally accept its terms and conditions, will receive an Accession Fee of 25 basis points calculated on the nominal value of the relevant amounts of the unsecured debt they hold (the “Accession Fee”).

The Early Accession Fee and the Accession Fee will be paid in cash by the Company on or around the date of completion of all the financial restructuring operations.

The deadline for accessing to the Lock-Up Agreement is July 22, 2024, 6:00 p.m. (CET) (the “Cut-Off Date”).

The procedures for access to information relating to the transaction for Non-Secured Financial Creditors wishing to accede to the Lock-up Agreement are described in Schedule 2.

Governance

Upon closing of the financial restructuring, it is specified that the banks and the bondholders of the Company do not intend to act in concert together and that consequently, the Company will remain not controlled9. The Company will continue to refer to the Corporate Governance Code of Listed Corporations (Code Afep-Medef), as amended from time to time.

The Board of directors will remain composed by a majority of independent directors, and certain creditors will have the right to propose the appointment of members and/or observers (censeurs) of the Board of directors following the completion of the financial restructuring.

Condition precedent and implementation

The implementation of the financial restructuring remains subject to the fulfilment of several conditions precedent, including in particular:

Finalization and conclusion of the long form financial restructuring documentation, including the accelerated safeguard plan;
Approval by the AMF of the securities notes (note d’opérations) relating to the contemplated share capital transactions;
Receipt of a report from an independent expert confirming that the terms of the proposed financial restructuring (including in relation to the share capital increases) are fair from a financial perspective in accordance with the AMF General Regulation, as customary for transactions of this nature;
Judgment of the specialized Commercial Court of Nanterre (Tribunal de Commerce spécialisé de Nanterre) approving the accelerated safeguard plan implementing the definitive financial restructuring agreement; and
Obtaining regulatory approvals, if applicable10.

Interim financing of €800 million secured, providing the liquidity necessary to fund the business until close of the financial restructuring plan

The entire €450 million of initial interim financing is accessible by the Company

As announced on July 5, 2024, the syndication process for the incremental interim financing program of €350 million, to be available from the end of July, has already been completed. This program remains subject to the entry into a dedicated accelerated proceedings.

DeZwarteRidder 23 juli 2024 15:09

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As a reminder, these operations include:

A rights issue with maintenance of the preferential subscription rights for existing shareholders, for an amount of €233 million, at a reduced subscription price compared to the Equitization Capital Increases (to the extent legally permissible), with €75 million in cash backstopped by bondholders participating in the new financings (described below) and €100 million backstopped by the creditors participating in the new financings (the “Participating Creditors”) by set off against the portion of their respective debts (the “Rights Issue”), any cash proceeds resulting from the subscription to this Rights Issue will be kept in full by the Company for the purpose of financing its business operations;

If the €100 million backstop by set-off against their respective debts provided by the Participating Creditors in the Rights Issue is not called up in full, the amount remaining to be subscribed shall be equitized on terms similar to those for the Rights Issue, through a capital increase without preferential subscription right reserved to them (with, if applicable5, a priority period (délai de priorité) for the benefit of existing shareholders), by way of debt equitization (the “Potential Capital Increase”). As part of the Potential Capital Increase, the Participating Creditors will also have (i) the option to subscribe for an additional amount in cash of up to €75 million (the “Optional Additional Equity”) and (ii) the option to equitize part of their debt in proportion to their participation in the Additional New Money Debt (as defined below).

a.voordedorst 23 juli 2024 16:00

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Kun je ook in het kort vertellen wat dit verhaal betekent voor de koers?

DeZwarteRidder 23 juli 2024 16:43

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quote:
a.voordedorst schreef op 23 juli 2024 16:00:
Kun je ook in het kort vertellen wat dit verhaal betekent voor de koers?

Nee.

DeZwarteRidder 25 juli 2024 09:16

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Atos Market Update – July 24, 2024

24 Jul 2024 08:21 CEST
Issuer

ATOS SE

Press release

Market Update

The Court opens the accelerated safeguard proceedings to implement Atos pre-arranged financial restructuring plan

Decision taken by the Court considering the strong level of support from the financial creditors
Accelerated safeguard proceedings only impacts financial debt (RCF, TL, bonds) and share capital of Atos SE; no impact on suppliers, employees and other claims held on Atos SE
Court hearing for the approval of the accelerated safeguard plan expected on October 15, 2024
Following Court approval, implementation of the plan through several capital increases and debt issuances from November 2024 until January 2025

Implementation of the pre-arranged financial restructuring plan

€800 million short term interim financing available to the Company secured until closing and to be refinanced with the €1,750 million New Financings1 to be put in place before year-end 2024

Strong participation of the Bondholders2 to the New Financings

Up to €837.5 million new bond and €75 million backstop in cash of the Rights Issue underwritten by 67% of the Bondholders

Jean Pierre Mustier appointed Atos CEO in addition to his role as Chairman

Paris, France – July 24, 2024 – Atos SE (“Atos” or the “Company”) announces today the opening of an accelerated safeguard proceedings by the specialized Commercial Court of Nanterre, for an initial period of two months, which may be renewed for two additional months.

The Court opens the accelerated safeguard proceedings to implement Atos pre-arranged financial restructuring plan

As announced in the press release of July 15, 2024, the purpose of this procedure is to enable the Company to implement its financial restructuring plan in accordance with the Lock-Up Agreement3 reached between the Company, a group of banks and a group of bondholders.

The Court has estimated that, with the level of financial creditor support and the information provided by the Conciliator during the hearing, the financial restructuring plan should be successfully approved through the accelerated safeguard proceedings.

In this context, the Specialized Commercial Court of Nanterre appointed:

(i) SELARL FHB, represented by Maître Hélène Bourbouloux, and SELARL AJRS, represented by Maître Thibaut Martinat, as judicial administrators; and

(ii) SELARL C. Basse, represented by Maître Christophe Basse, and Alliance, represented by Maître Gurvan Ollu, as creditors’ representatives.

The sole objective of the accelerated safeguard proceedings, which only involves financial creditors and shareholders, is to implement and obtain a Court approval on the terms of the financial restructuring plan agreed in the Lock-Up Agreement. It only relates to the financial indebtedness of Atos (RCF, TL and bonds) and does not impact suppliers, employees, the governance of the Company, or other claims held by the creditors of the Company or its subsidiaries.

As a reminder, the main features of the financial restructuring plan agreed in the Lock-Up Agreement consist of €1.75 billion of new funding, a debt reduction of at least €3.1 billion and no debt maturing before year-end 2029.

AEX 921,94 +2,94 +0,32% 31 jan


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