Atento secures financing for comprehensive restructuring plans
NEW YORK, UNITED STATES — Business Process Outsourcing (BPO) services provider Atento recently agreed to a term sheet with key financial stakeholders for a substantial infusion of capital and a pathway towards restructuring.
The term sheet provides for an interim financing of at least $30 million and a significant deleveraging of Atento’s balance sheet. Further, it includes an additional $79 million capital injection, contingent on implementing a comprehensive restructuring plan.
Atento CEO Dimitrius Oliveira described the term sheet as a “milestone,” showcasing partners’ confidence in Atento’s competitive proposition.
He also emphasized the company’s commitment to enhancing business operations while delivering excellent customer experiences.
“With this new infusion of capital, we look forward to accelerating our transformation and further strengthening our business for the long term,” Oliveira added.
The agreement offers sufficient capital until the restructuring is implemented, with a path to a definitive agreement within two weeks. The company remains confident in garnering requisite support for the financial restructuring, subject to customer due diligence and the grant of security interests.
This move aligns with Atento’s previous announcement regarding a comprehensive restructuring to streamline its balance sheet. It aims to position the firm for long-term strategic execution and maintain high service levels for its +400 blue-chip clients across sixteen countries and its global workforce of over 135,000 employees.
