PARIS, May 20 (Reuters) – The European Central Bank (ECB) would hold around 20% of the debt of the troubled IT group, making the institution Atos’ largest individual creditor, Les Echos reported on Monday, citing information from La Lettre.
The ECB is said to hold around 500 million euros of bonds from the group which is indebted to the tune of 4.8 billion euros.
“According to our information, the other creditors would be ready to show flexibility as to the way in which the ECB wishes to renegotiate its debt and to find mechanisms to satisfy it when the time comes, even if its expectations are not yet known,” specifies everyday life.
The ECB’s position is a legacy of its asset purchase program implemented between 2015 and 2017 and intended to support the economy by purchasing European corporate bonds in particular, reports La Lettre. (Written by Corentin Chappron, edited by Zhifan Liu)
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