Cohen & Company Announces Strategic
Transactions
Sale of Contract Rights and Entry Into a Related Three-Year Services Agreement for up to $44.5 Million
in Proceeds
New $14.6 Million Two-Year Secured Credit Facility - Refinancing, Extension and Rate Reduction of
Existing Credit Facility
Cash Offer to Purchase $9.5 Million of Subordinated Notes at 80% of Par
July 29, 2010 05:23 PM Eastern Daylight Time
PHILADELPHIA & NEW YORK--(EON: Enhanced Online News)--Cohen & Company Inc. (NYSE AMEX:
COHN), a leading investment firm specializing in credit-related fixed income investments, today announced a series
of strategic transactions designed to enhance the firm’s long-term liquidity and operating flexibility as it continues to
invest in its growth businesses. This strategy includes the sale of Alesco collateral management rights to ATP
Management LLC (“ATP”), an affiliate of certain investment funds managed by affiliates of Fortress Investment
Group LLC, a three-year services agreement related to servicing the Alesco collateral management rights, a two-
year secured credit facility, as well as an offer to purchase all outstanding unsecured subordinated promissory notes
due June 20, 2013.
Daniel G. Cohen, Chairman and Chief Executive Officer of Cohen & Company, said, “The Alesco
transactions, which accelerate the monetization of some of our CDO collateral management rights, as well as the
announcement of a new credit facility that extends the term of our bank borrowings and reduces interest costs, are
significant developments in providing our firm additional resources for the future of our growth businesses.”
Master Transaction Agreement to Sell Alesco I through Alesco XVII Collateral Management Rights
Cohen & Company Financial Management, LLC (“CCFM”), a subsidiary of Cohen & Company, sold to ATP the
collateral management rights and responsibilities arising after the sale relating to the Alesco X through XVII
securitizations, which represent $3.8 billion of assets under management. In addit