Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SONIC AUTOMOTIVE INC incurred term loan of $150 million with PNC Bank, National Association at Term SOFR plus 2.50% per annum maturing the earlier of (i) the date that is 364 days after the Closing Date and (ii) the occurrence of a refinancing of the PNC Mortgage Facility.
- Instrument
- term loan
- Principal
- $150 million
- Counterparty
- PNC Bank, National Association
- Rate
- Term SOFR plus 2.50% per annum
- Maturity
- the earlier of (i) the date that is 364 days after the Closing Date and (ii) the occurrence of a refinancing of the PNC Mortgage Facility
- Event
- incurrence
Exact text from the filing
On March 27, 2026 (the “Closing Date”), Sonic Automotive, Inc. (the “Company”) entered into a Bridge Facility Credit Agreement (the “Bridge Facility Credit Agreement”) with PNC Bank, National Association (“PNC”), as administrative agent and lender. The Bridge Facility Credit Agreement provides for a senior unsecured term loan facility in an aggregate principal amount of $150 million (the “Bridge Facility”). Also on the Closing Date, the Company borrowed $150 million under the Bridge Facility Credit Agreement, the full amount available under the Bridge Facility.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SONIC AUTOMOTIVE INC entered into Bridge Facility Credit Agreement with PNC Bank, National Association valued at $150 million (effective 2026-03-27).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- PNC Bank, National Association
- Value
- $150 million
- Effective
- 2026-03-27
Exact text from the filing
On March 27, 2026 (the “Closing Date”), Sonic Automotive, Inc. (the “Company”) entered into a Bridge Facility Credit Agreement (the “Bridge Facility Credit Agreement”) with PNC Bank, National Association (“PNC”), as administrative agent and lender.
View on SEC.gov