Market update
Press release
Market update
Syndication of short-term interim
financing program closed successfully
Secured waiver from the banks under the
€1.5 billion term loan of the Company
Update on New
Financings1
-
Syndication process for the backstop of the New Financings
to be provided by Bondholders2
finalized
-
Syndication process for the backstop of the New Secured
Financings to be provided by the Banks3
extended to July 11, 2024, 6:00 p.m. CET, to take into
account possible modifications related to bank
guarantees
Objective of reaching a definitive
financial restructuring agreement by July 2024 remains
unchanged
Paris, France – July 5, 2024 –
Atos SE (“Atos” or the “Company”)
provides today an update on the short-term interim financing
program and on the New Financings.
Syndication of short-term interim
financing program closed successfully
Following its press release dated June 30, 2024
and as part of its interim financing process, Atos announces the
close of the syndication of the additional tranches for €225
million and €350 million and the receipt of the required waiver
from the banks under the €1.5 billion term loan of the Company.
These additional tranches of €225 million and
€350 million of revolving credit facility are subject to an
amendment of the facilities previously provided by a group of
bondholders, which is expected to be signed shortly.
Update on New Financings
The syndication process for the backstop of the
New Financings (New Secured Financings and Equity Financings
Backstop) to be provided by Bondholders has been completed on July
3, 2024, as planned.
The Syndication process for the backstop of the
New Secured Financings to be provided by the Banks has been
extended to July 11, 2024, 6:00 p.m. CET, to take into account
possible modifications related to bank guarantees.
All Banks wishing to backstop or participate in
the subscription to this New Financings are now invited to
formalize, by July 11th, 2024 6:00 p.m. Paris time
by completing the following form:
https://forms.kroll.com/orbeon/fr/is/atos-form-backstop/new?form-version=1.
Banks who have already participated and
completed their form will be able to modify their response form by
July 11th, 2024 6:00 p.m. Paris time. To this end,
Banks 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:
https://forms.kroll.com/orbeon/fr/is/atos-form-backstop/new?form-version=1.
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 via the following website:
https://deals.is.kroll.com/atos.
Next steps
As indicated in its press release of June 30,
2024, the Company expects the signing of the lock-up agreement
allowing all financial creditors to support the proposed
restructuring plan during the week starting July 8.
The definitive financial restructuring agreement
with the financial creditors would then be implemented through a
dedicated accelerated procedure4 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 or during Q1 2025.
***
Appendix
Bondholders (the
“Bondholders”) are defined as all the holders of
the following notes as at June 14, 2024, after close of market (the
“Record Date”).
- 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;
Banks (the
“Banks”) are defined as all the lenders under the
following credit facilities as at the Record Date:
- 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.
***
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 As defined in its press release of June 30,
2024: provision of secured new money debt 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”)
2 See definition in appendix3 See definition in appendix4 The
Company may request the opening of accelerated safeguard
proceedings – whose effects would be limited to financial creditors
and shareholders only – with the sole view to implement and obtain
a Court approval on the terms of the financial restructuring plan
agreed in the lock-up agreement. The accelerated safeguard
proceedings would concern only the financial indebtedness of Atos
and would not impact in any way suppliers, employees, the
governance of the Company, or other creditors of the Company or its
subsidiaries.
- PR - Atos - Market update - 5 July 2024
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