Sonic Automotive redeems 6.125% Senior Subordinated Notes due 2027, finances with new notes at lower rates

SONIC AUTOMOTIVE INC

On Oct 28, 2021, Sonic redeemed all outstanding 6.125% Senior Subordinated Notes due 2027.
Redemption was conditioned on successful completion of new note offerings (4.625% due 2029 and 4.875% due 2031) on Oct 27.
Company satisfied and discharged all remaining obligations under the indenture for the 6.125% Notes.
The refinancing replaces a 6.125% coupon with lower-coupon notes (4.625% and 4.875%).
No financial impact quantified in filing; transaction closed in same week.

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