Atos bags €1.25bn refinancing package
The move comes as the group continues restructuring under its Genesis plan
France-HQ organisation Atos has secured a €1.25bn (£1.1bn) senior secured bond issuance to stabilise its balance sheet following a period marked by financial difficulties.
The refinancing consists of €950m in fixed-rate notes due 2031 with an 8.125 per cent coupon, alongside €300m in floating-rate notes due 2031 linked to three-month EURIBOR plus 525 basis points.
Atos said the offering was oversubscribed, reflecting demand from institutional investors.
Proceeds from the issuance, alongside cash on the balance sheet, will be used for the repayment and cancellation of the company’s revolving credit facility and bonding lines as well as the refinancing of its first lien term loan and notes.
The group will also reportedly put in place a new revolving credit facility worth up to €110m.
Settlement of the transaction is expected on 21 May, subject to customary closing conditions.
The firm added that refinancing of its existing first lien debt tranche is expected to be completed in the second half of 2026.
The announcement comes after two years marked by challenges for the French group.
Philippe Salle took the helm of the company in February, making him the seventh person to assume this role since 2019.
It has also been restructuring under its Genesis strategy, unveiled in May last year, which is set to generate revenue of €9bn to €10bn as well as an operating margin of around ten per cent by 2028.
The plan, which followed a year of headwinds, is yet to prove successful as the business reported an 11 per cent top line decline to €1.7bn in Q1.
On the other hand, it recently pointed to stronger momentum in the UK and Ireland business, supported by new contract wins and public sector activity in early 2026.
FY25 turnover plummeted 20 per cent, from €9.6bn to €8bn.
In September, as part of its restructuring strategy, Atos also laid off 135 employees based in France and in sectors such as marketing, HR and finance.