Sonic Automotive Completes New Credit Facilities

Sonic Automotive, Inc. SAH announced today that it has entered into an amendment and extension of its existing syndicated credit facilities that were scheduled to mature in August 2012. The amended syndicated credit facilities, which mature in August 2016, provide for the following: up to $500 million for new vehicle inventory floorplan financing, an increase of $179 million from the existing facility; up to $80 million for used vehicle inventory floorplan financing, an increase of $30 million from the existing facility, and; up to $175 million for working capital and general corporate purposes, an increase of $25 million from the existing facility.