---
schema_version: "secwatch.filing_event.v1"
accession: "0001043509-24-000032"
form_type: "8-K"
ticker: "SAH"
cik: "0001043509"
company_name: "SONIC AUTOMOTIVE INC"
filed_at: "2024-03-19T23:59:59+00:00"
generated_at: "2026-06-04T12:50:46.140150+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Sonic Automotive amends credit facility: floor plan commitments reduced $550M to $2.4B, maturity extended to 2029

## Summary
- Total floor plan commitments cut by $550M from $2.95B to $2.4B; new vehicle floor plan up $320M to $1.35B.
- Used vehicle floor plan commitments slashed by $870M to $700M.
- Maturity extended to March 13, 2029, with a one-year extension option.
- Quarterly dividend basket raised from $0.12 to $0.18 per share; liquidity covenant removed.
- Truist Bank repaid and its commitments terminated; increased flexibility for asset sales and share repurchases.

## SEC filing metadata
- accession: 0001043509-24-000032
- form_type: 8-K
- ticker: SAH
- cik: 0001043509
- company_name: SONIC AUTOMOTIVE INC
- filed_at: 2024-03-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1043509/000104350924000032/0001043509-24-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1043509/000104350924000032/sah-20240313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001043509-24-000032
- JSON: https://secwatch.observer/filing/0001043509-24-000032.json
- Plain text: https://secwatch.observer/filing/0001043509-24-000032.txt

## Key facts
- Material Agreements
  SONIC AUTOMOTIVE INC amended Sixth Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and the lenders listed therein valued at decrease the aggregate commitments under the Floor Plan Facilities by $550.00 million, from $2.95 bi (effective 2024-03-13).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, and the lenders listed therein
  - Value: decrease the aggregate commitments under the Floor Plan Facilities by $550.00 million, from $2.95 bi
  - Effective: 2024-03-13
  source text: On March 13, 2024 (the “Effective Date”), Sonic Automotive, Inc. (the “Company”) and certain of its subsidiaries entered into the Sixth Amended and Restated Credit Agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent, revolving swing line lender, new vehicle swing line lender, used vehicle swing line lender, letter of credit issuer and a lender, BMW Financial Services NA, LLC, JPMorgan Chase Bank, N.A., Mercedes-Benz Financial Services USA LLC, Toyota Motor Credit Corporation, PNC Bank, National Association, VW Credit, Inc., American Honda Finance Corporation, U.S. Bank National Association, Wells Fargo Bank, National Association, MassMutual Asset Finance LLC, TD Bank, N.A., World Omni Financial Corp., and First National Bank of Pennsylvania as lenders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1043509/000104350924000032/0001043509-24-000032-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.