Linklaters has advised Tank & Rast on the 1.45 billion euro senior secured credit facilities and associated hedging transactions in connection with the complete refinancing of its existing senior and junior credit facilities maturing in August 2014 which was completed at the beginning of this month. Tank & Rast is the leading German motorway services operator owned by private equity firm Terra Firma and Deutsche Bank's infrastructure division RREEF. The refinancing was implemented through a combination of debt that also includes high yield bond issuance and a payment-in-kind term loan.

The Linklaters team was led by Frankfurt banking partner Michal Hlásek and London banking partner Brian Gray.

They were assisted by London based derivatives partner David Phillips, Frankfurt corporate partner Dr Ralph Drebes, London banking managing associates Helen Gill and Andrew Jennens, Frankfurt banking managing associate Steffen Schellschmidt and London derivatives managing associate Doug Shaw.