Latham & Watkins Advises Atos in Its Innovative Refinancing Transactions

Latham & Watkins advised Atos SE, a global leader in AI‑powered digital transformation, on its inaugural €1,250 million high‑yield offering of senior secured notes due 2031, comprising €950 million of senior secured fixed‑rate notes and €300 million of senior secured floating‑rate notes, as well as on its entry into a new €110 million revolving credit facility.

The transaction represents a significant milestone for Atos following the completion of its 2024 financial restructuring, introducing an innovative financing structure that allows new financing to coexist with the group’s existing debt framework and provides a clear pathway toward a fully conventional capital structure over time.

The Latham team was led by Paris Capital Markets partner Thomas Margenet‑Baudry, with associates Hamza El Mouahid, Adrien Couvrecelle, and Manel Mebarkia. Advice on finance matters was provided by Paris partner Xavier Farde, with counsel Aurélie Buchinet and associates Bruna Neiva Cardante and Natacha Enoh; and on tax matters by Paris partner Olivia Rauch‑Ravisé, with associates Jean‑Baptiste Bourbier and Emilie Scandola, and by US partner Rene de Vera, with assistance from Ethan Lee.