(Reuters) – French technology company Atos said on Monday it had secured 1.675 billion euros ($1.82 billion) in debt restructuring funding through a lock-up agreement with a group of banks and bondholders representing more than 50 percent of its creditors.
Remaining creditors have until July 22 to participate in the deal, Atos said.
Its shares rose around 10% to 1.17 euros per share in early trading on the Paris Stock Exchange.
Atos said it had also secured interim financing of €800 million, of which €450 million was already available, providing it with the liquidity needed to fund its business until the financial restructuring plan is completed.
He said banks and bondholders had no intention of acting together and that the company would remain “uncontrolled” after the end of the financial restructuring.
“The Board of Directors will continue to be composed mainly of independent directors and some creditors will have the right to propose the appointment of members and/or observers,” Atos explained.
The new governance will be announced once the restructuring is completed, which is expected to take place in late 2024 or early 2025, he added.
(1 dollar = 0.9179 euros)
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