Atos Raises 1.25 Billion Euros to Refinance Debt Maturing in 2031

Composition and Terms of the Bond Issue

The offering consists of 950 million euros in senior secured fixed-rate bonds, issued at 100% with an annual coupon of 8.125% payable semi-annually, and 300 million euros in variable-rate bonds, issued at 99.5% with a quarterly coupon equal to the three-month Euribor (with a floor at 0%) plus 525 basis points. The bonds have received B+ ratings from S&P and BB- from Fitch. The issue attracted significant interest from institutional investors, resulting in a high level of oversubscription. The settlement-delivery is scheduled for May 21, 2026.

Use of Proceeds and Cash Restructuring

Atos intends to use the proceeds from the issuance and a portion of its available cash to fully repay its existing 1L term loan (principal and accrued interest) and to launch a buyback offer for its existing 1L bonds. Any 1L bonds not presented for buyback will be repaid at 108%. As part of the refinancing, the Company will also repay its existing revolving credit lines and bank guarantee facilities and will set up a new revolving credit facility of up to 110 million euros. The Group expects the complete refinancing of the 1L tranche to be completed by the beginning of the second half of 2026.

Impact on Atos's Financial Strategy

This refinancing operation is part of Atos's broader financial strategy to strengthen its balance sheet and improve its financial flexibility. By addressing its near-term debt maturities, Atos aims to secure a more stable financial footing and enhance investor confidence.