Sara Clevering joined Ropes & Gray in 2007 and practices in the tax & benefits department. She advises private equity funds and public companies on tax issues relating to high-yield debt issuances, syndicated credit facilities, and debt restructurings, both in the domestic and international context. She also has represented investment funds on tax planning matters and investment structuring.
Prior to joining Ropes & Gray, Sara practiced as an associate in the London office of a U.S. law firm.
- Represented The Hanover Insurance Group (NYSE: THG) in connection with the registered offering of $175 Million of 40-year subordinated debentures, listed on NYSE.
- Represented BV Investment Partners, a middle-market private equity firm, in its sale of Butterfield Fulcrum to Mitsubishi UFJ Trust and Banking Corporation.
- Represented Liberty Global plc in connection with the financing for its $23.3 billion acquisition of Virgin Media Inc.
- Represented Unitymedia KabelBW GmbH and its subsidiaries in connection with multiple high yield bond issuances totaling approximately €2.7 billion (equivalent) and various tender offers.
- Represented UPC Holding B.V. in connection with multiple high yield bond issuances totaling approximately €1.3 billion (equivalent).
- Represented UPC Holding B.V. and its subsidiaries in connection with a series of high yield bond issuances totaling approximately $4 billion (equivalent) by special purpose vehicles, with the offering proceeds applied to fund term loans under UPC’s senior secured credit facilities.
- Represented Liberty Global plc in connection with the financing aspects of the business combination of its German cable businesses, Unitymedia and KabelBW, including an €2.16 billion (equivalent) exchange offer by Unitymedia Hessen GmbH & Co. KG, Unitymedia NRW GmbH and Unitymedia GmbH for certain existing notes issued by Kabel BW GmbH and UPC Germany HoldCo 1 GmbH.
- Represented Altice Financing S.A. and Altice Finco S.A. in connection with a tap issuance of their existing $450 million 7⅞% senior secured notes due 2019, €200 million 8% senior secured notes due 2019 and $400 million 9⅞% senior notes due 2020 in connection with Altice’s take-private and refinancing of HOT-Telecommunications Systems Ltd., an Israeli telecommunications company.
- Senior secured financing for GT Advanced Technologies, a public company.