secwatch.observer — SEC 8-K summary
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Issuer:     SONIC AUTOMOTIVE INC (SAH)
CIK:        0001043509
Form:       8-K
Filed at:   2022-11-23T23:59:59+00:00
Accession:  0001043509-22-000020
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sonic Automotive closes $320M term loan and extends Mortgage Facility to 2027
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- Incurred $320M term loan under amended Mortgage Facility; used $77.6M to repay prior term loan.
- New Delayed Draw Credit Facility up to $85.0M; $7.0M drawn on Nov 18, 2022.
- Aggregate commitments increased to $500M; maturity extended to Nov 17, 2027.
- Replaced LIBOR with Term SOFR; pricing grid adjusted based on leverage ratio.
- Subsidiaries entered Amended and Restated Subsidiary Guaranty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043509/000104350922000020/0001043509-22-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043509/000104350922000020/sah-20221117.htm
  HTML page:      https://secwatch.observer/filing/0001043509-22-000020

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