Sonic Automotive, Inc. (SAH) said Monday that it plans to commence a private offering of up to $300.0 million in aggregate principal amount of senior subordinated notes to qualified institutional buyers.
The net proceeds of this offering will be used to redeem all of the company's outstanding 9.0% Senior Subordinated Notes due 2018 pursuant to the optional redemption provisions of the indenture governing the 9.0% Notes, and to pay related fees and expenses and any remaining amount will be used for general corporate purposes, including the acquisition and development of dealerships and related real property, repurchases of shares of its Class A common stock and other working capital needs.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.