Sonic Automotive enters $149M mortgage loan facility maturing 2027

SONIC AUTOMOTIVE INC

Credit agreement with PNC Bank establishes a $149,137,000 syndicated mortgage loan facility maturing November 17, 2027.
Interest rates tied to SOFR or Base Rate plus margin based on lease adjusted leverage ratio: 1.25%-2.25% for SOFR loans.
Facility secured by mortgages on certain properties and guaranteed by certain subsidiaries.
Contains customary covenants including restrictions on indebtedness, liens, dividends, and capex.
Commitments of $149,137,000 available upon satisfaction of funding conditions.

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