Atos calls 2.5% Oceanes due 2016; notes are convertible till Oct. 9

By Susanna Moon

Chicago, Sept. 16 - Atos SE said plans to redeem all of its 2.5% bonds issued in the Oceane structure due Jan. 1, 2016.

Holders will have the option either to convert their bonds into Atos shares or to receive a cash payment of €47.08708 per bond at the latest on Oct. 9, according to a company press release.

The conversion ratio will be 1.03 Atos shares per each bond.

BNP Paribas Securities Services centralizes conversion/exchange requests for Atos shares.

If all bondholders choose to convert their bonds, the total number of newly issued shares would be 5.6 million. The net cash position in the group balance sheet would be increased by €230 million.

In this context, the board of directors decided, according to the authorization granted by the meeting of May 29, to initiate at the same time a buyback program of Atos shares corresponding to half of this amount, or €115 million, which will start in the next few days and be realized over the next six months, the company said.

The bonds were issued by Atos on Oct. 29, 2009 as part of the loan of a principal amount of €220 million.

Atos is an information technology services company based in Paris.

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