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Alex Cota is a debt finance partner practicing in Stroock’s Financial Restructuring Group, and serves as the leader of its “Debt Finance” Business Unit. He advises and represents banks, private equity and hedge funds, business development companies, alternative capital providers, other financial institutions and private companies on a variety of complex financing transactions across a broad variety of industries and in all levels of the capital structure, both lender-side and borrower-side (including administrative agent and arranger representations).

Recent finance transactions on which Alex has worked include senior and subordinated revolving and term loan credit facilities, split-collateral deals, first/second lien deals, acquisition financings, asset-based financings, unitranches, high yield bonds, club deals, loan workouts and restructurings, debtor-in-possession financings, rescue financings and bankruptcy exit financings. He also has extensive experience in the structuring, negotiation and documentation of intercreditor arrangements in connection with his representations.

Representative Matters

  • Island Energy Services – $370 million acquisition delayed-draw term and working capital facilities (agent / lenders)
  • Kelson Energy, Inc. – $2 billion of project financing facilities (multiple term / revolving tranches) (sponsor / borrower)
  • U.S. Oil & Refining – $200 million first lien working capital facility (lenders)
  • JPMorgan SSPF Private Equity Fund – $1.0 billion revolving credit facility (borrower)
  • Ametek – $1.150 billion revolving credit facility (borrower)
  • Philadelphia Energy Solutions – $1.0 billion prepetition debtor-in-possession and exit secured working capital facility (lender)
  • JPMorgan SPF - $1.25 billion senior revolving credit facility (sponsor / borrower)
  • Sears Canada – $375 million FILO credit facility (lenders)
  • Bioscrip – $28 million priming secured credit facility (rescue lenders)
  • Cenveo, Inc. – $100 million senior secured super-priority priming debtor-in-possession facility and related DIP intercreditor arrangements (agent / lenders)
  • Logan’s Roadhouse – $120 million first lien revolving and term credit facility and second lien term loan credit facilities and related intercreditor arrangements (lenders)
  • Caesars Palace Las Vegas – $650 million mezzanine 1, 2 and 3 credit facilities (agent)
  • Blackhawk Mining Company, LLC – $229 million second lien term credit facility and related intercreditor arrangements (agent / lenders)
  • Dex Media, Inc. - $858 million term loan credit facility and $350 million asset-based credit facility (lenders)
  • Contextmedia Health LLC –  $59 million second lien term credit facility and related intercreditor arrangements (agent)
  • Yamana Gold Inc. – $200 million working capital facility and related intercreditor arrangements (lenders)
  • Broader Media – $100 million senior secured first lien credit facility (agent / lenders) (unfunded)
  • Philadelphia Energy Solutions – $150 million first lien asset-based and letter of credit facility (agent / lenders)
  • Unisys Corporation – $440 million senior secured notes due 2022 (initial purchasers)
  • Innovairre International – $225 million first lien term loan credit facility, $50 million asset based revolving credit facility and $12.5 million subordinated term loan credit facility (borrower)
  • Panda Temple I – $170 million senior secured term loan credit facility (agent / lenders)
  • Colt Defense – $33 million first lien term credit facility (agent / lenders)
  • New Enterprise Stone & Lime Co. – $70 million term loan credit facility (agent / lenders)
  • CNG Financial – $125 million revolving and term credit facility (agent / lenders)
  • JPMorgan I&G Private Equity Fund – $300 million first lien credit facility (sponsor / borrower)
  • The Durst Organization – $400 million revolving credit facility (borrower)
  • Avaya – $725 million super-priority priming DIP credit facility (lenders)
  • Deluxe Services Group - $73 million senior secured priming delayed-draw term loan facility and ~$800 million senior secured term loan facility (lenders)
  • La Paloma Generating Company – $65 million first lien working capital / $301.7 million first lien term loan credit facility (lead arranger / letter of credit issuer)
  • Johnson Matthey Refining – $150 million working capital facility (lender)
  • The Reagan Companies - ~$250 million acquisition term loan credit facility (sponsor/borrower)
  • Acoustic L.P. - ~$200 million term and revolving credit facility to fund a top tier sponsor’s acquisition of certain IBM carve-out assets (lenders)
  • Targus – $20 million priming credit facility; $170 million term loan credit facility (lenders)
  • Affirmative Insurance – $120 million term credit facility (rescue priming facility) (agent / rescue lenders)
  • St. Johns Financial Holding Company – $19 million acquisition delayed-draw term credit facility (lenders)
  • China Medical Technologies – $20 million delayed-draw term loan facility (agent / lenders)
  • Represented various DIP lenders and DIP agents in various super-priority, priming and junior debtor-in-possession financings, including, among others, Colt Defense, Allied Nevada, Brookstone, Harry & David, Garden Fresh and Trump Entertainment Resorts

Honors & Awards

  • Private Debt Investor, Rising Star
  • The Legal 500 United States
  • IFLR 1000, Rising Star
  • Super Lawyers, Rising Star

Memberships

  • Member, American Bar Association
  • Member, Texas Bar Association
  • Member, New York State Bar Association

Speeches & Events

  • Alex has given multiple CLEs on secured finance transactions.
  • Alex has also served as a panelist on various finance and restructuring topics at industry-sponsored events.

Publications

 

  • "SBA's $349 Billion Business Relief Program Is Off to a Bumpy Start," Stroock Special Bulletin, April 6, 2020
  • "Stroock's Guide to the CARES Act's Business Loan Lifetime," Stroock Special Bulletin, March 30, 2020
  • “Final Regulations Confirm the Change to the ‘Deemed Dividend’ Tax Regime and Should Shape Your Thinking on Financing/Collateral Arrangements,” Stroock Special Bulletin, June 12, 2019
  • “The Guiding Principles: Why to Start Incorporating LIBOR Fallback Language Into Your Debt Documents Now,” Real Estate Finance Journal, Winter 2018
  • “GAAP Updates Affecting Credit Documents: New Revenue Recognition and Lease Accounting Standards,” Stroock Special Bulletin, December 28, 2018
  • “Rethinking BDC Leverage Post-Rating Agency Guidance,” Stroock Special Bulletin, May 24, 2018
  • “LIBOR Evolution: The Shift to the Waterfall Methodology,” Stroock Special Bulletin, May 1, 2018

Admitted To Practice

New York

Education

J.D., Stanford Law School, 2005

B.A., high honors, University of Texas, 2002

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