UPDATE 2-Altran gets refinancing, shares jump

(Adds chairman interview, analysts, shares)

By Marie Maitre and Gilbert Kreijger

PARIS, April 17 (Reuters) - French technology consultant Altran (ALTT.PA) said on Thursday it had secured a refinancing deal and would issue shares worth up to 130 million euros ($205.8 million) to finance acquisitions, boosting its stock.

Europe's second-largest technology consultant said it would issue 6 million shares -- or 5.1 percent of its capital -- at between 5 and 6 euros per share, to funds managed by private equity firm Apax Partners [APAX.UL] "to accelerate its growth".

"It (the capital increase) reinforces our equity base ... and allows us to become a player in the consolidation of the market," Altran Chairman Yves de Chaisemartin told Reuters.

"We are in a market that is consolidating and we could not until now take part in that, but now we can become a player."

Altran announced the separate signing of a 150 million euro credit line with BNP Paribas (BNPP.PA), Credit Agricole (CAGR.PA), Natixis (CNAT.PA) and Societe Generale (SOGN.PA), which will allow the company to redeem a 230-million euro convertible bond that is expiring on Jan. 1, 2009.

"The issue of redeeming the Oceane (bond) is sorted. The problem is now behind us," de Chaisemartin said, adding that the remaining 80 million euros had been covered byAltran's cashflow and improved revenue collection.

The twin announcements lifted Altran shares by as much as 12 percent as analysts welcomed the long-awaited refinancing deal, and the arrival of Apax in Altran's capital. Shares were up 7.9 percent at 5.85 euros by 1050 GMT.

DEVELOPMENT PLANS

"This refinancing package will significantly cut the risk premium hanging over Altran's share price," said OddoSecurities analyst Brice Prunas, while Deutsche Bank analyst Eric Elalouf said Apax would likely "improve the way the group is run."

"We feel Apax's reputation as a tech expert gives more credibility to the scenario of Altran's margin recovery," Elalouf added.

Asked about the arrival of Apax in Altran's capital, de Chaisemartin told Reuters this was a friendly and long-term move, and that Altran was not looking for any other investors.

"Apax has an average duration of investment of around five years. So I consider that we have five years ahead of us to succeed in our recovery and accelerate our development."

The rights issue, which Altran expects to carry out before the end of July, will give the company some "room for manoeuvre" for external growth, de Chaisemartin added.

Altran has no specific target in mind for the time being, but de Chaisemartin excluded the acquisition of a "huge" company, saying it was looking at niche companies that can complement its high-end offers and geographical presence.

Europe, the United States, Brazil, China and India are the key markets Altran is looking at, de Chaisemartin said.

He also confirmed he saw no signs of slowdown in activity in business, but kept a cautious stance on prospects for the second half of the year and beyond. He declined to give forecasts.

"There is uncertainty on the evolution of the economic and financial markets, but for the moment, no sign of (slowdown) whatsoever, even in financial sectors, where paradoxically some problems have led to stricter controls, on which we can help." (Editing by Paul Bolding)