Atos S.E. Announces Offering Of Senior Secured Fixed Rate Notes Due 2031 And Senior Secured Floating Rate Notes Due 2031 And Entry Into New Revolving Credit Facility

Atos S.E. announced that it has launched an offering (the ?Offering?) of senior secured fixed rate notes due 2031 and senior secured floating rate notes due 2031 (collectively, the ?Notes?). The completion of the Offering is subject to market conditions and, if completed, the Company expects to use the proceeds from the offering, together with cash on balance sheet, to (i) fund the repayment in full and in priority of the Company?s 1L term loan, including accrued cash and PIK interest thereon, (ii) fund the offer to repurchase or the redemption of the Company?s 1L notes, including accrued cash and PIK interest thereon as well as any potential applicable redemption premium thereon (as applicable), and (iii) pay fees and expenses in connection with the refinancing. The Company also intends to discharge and cancel its existing revolving credit facility and the bonding line, and enter into a new revolving credit facility agreement, which will provide for a new revolving credit facility (which may include the drawdown of cash advances or the issue of letters of credit) of EUR 110 million.

On or about the issue date, the trustee under the new indenture governing the Notes, the agent and the original lenders under the new revolving credit facility agreement will accede to the existing intercreditor agreement, whereupon the holders of the Notes will share equal priority and pro rata entitlement in and to the shared collateral with the creditors under the new revolving credit facility and will have priority over all of the Company?s existing and future indebtedness that is subordinated to the Notes, including the existing 1.5L debt and 2L debt. Following the full discharge of the remaining existing debt after the offering (i.e., the existing 1.5L debt and the 2L debt), the new revolving credit facility will be designated as having ?super senior? status pursuant to a new super senior intercreditor agreement.

Within 120 days of the issue date, the Notes and the new revolving credit facility will be guaranteed by certain Company?s direct and indirect subsidiaries.