secwatch.observer — SEC 8-K summary
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Issuer:     SONIC AUTOMOTIVE INC (SAH)
CIK:        0001043509
Form:       8-K
Filed at:   2025-01-03T23:59:59+00:00
Accession:  0001628280-25-000245
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sonic Automotive enters $149M mortgage loan facility maturing 2027
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043509/000162828025000245/0001628280-25-000245-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043509/000162828025000245/sah-20241227.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-000245

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