French IT company Atos said on Monday it had secured 1.675 billion euros ($1.82 billion) in financing to restructure its debt through a closing agreement with a group of banks and bondholders representing more than 50% of its creditors.
Atos said the remaining creditors have until July 22 to participate in the deal.
Its shares rose about 10% to 1.17 euros per share in early trading in Paris.
Atos said it had also secured €800 million in interim financing, of which €450 million is already available, providing it with the liquidity needed to fund its business until the financial restructuring plan is completed.
She said banks and bondholders did not intend to work together in a coordinated manner, and that the company would remain “uncontrollable” after the financial restructuring process was completed.
“The board of directors will continue to be composed of a majority of independent directors, and some creditors will have the right to propose the appointment of members and/or observers,” Atos said.
She added that the new governance will be announced after the completion of the restructuring process expected at the end of 2024 or the beginning of 2025.
(1 dollar = 0.9179 euro)