Sonic Auto releases pricing of $210 million of senior subordinated notes
By APWednesday, March 10, 2010
Sonic Auto to sell $210 million of senior notes
CHARLOTTE, N.C. — Sonic Automotive Inc. said Wednesday that it has priced $210 million of senior subordinated notes due in 2018.
Sonic plans to use the proceeds to redeem a portion of other senior notes due in 2013.
The new notes will carry an interest rate of 9.125 percent and will be priced at 99.299 percent of par.
Shares of the automotive retailer rose 5 cents to $11.63 in afternoon trading.
YOUR VIEW POINT
