secwatch.observer — SEC 8-K summary
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Issuer:     SONIC AUTOMOTIVE INC (SAH)
CIK:        0001043509
Form:       8-K
Filed at:   2022-10-13T23:59:59+00:00
Accession:  0001043509-22-000014
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sonic Automotive amends credit agreement; replaces LIBOR with Term SOFR
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- Amendment No. 2 replaces LIBOR-based Eurodollar rate with one-month Term SOFR as reference rate.
- Provisions for including real property in Revolving Credit Facility borrowing base amended.
- Minimum commitment amounts and proportion of Revolving Credit Facility to total commitments adjusted.
- Offset account for voluntary reductions under Floor Plan Facilities adjusted; New Vehicle Floorplan Offset terminated.
- No default or event of default occurred; representations and warranties true as of effective date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043509/000104350922000014/0001043509-22-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043509/000104350922000014/sah-20221007.htm
  HTML page:      https://secwatch.observer/filing/0001043509-22-000014

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