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Letter to the Editor
Monday March 15
Sonic Automotive Announces Offering of Senior Subordinated Notes
Sonic Automotive, Inc. has announced it intends to commence a private offering of up to $210 million in aggregate principal amount of senior subordinated notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 and in offshore transactions pursuant to Regulation S under the Securities Act. The net proceeds of this offering will be used to redeem a portion of the Company's 8 5/8 percent Senior Subordinated Notes due 2013.The notes have not been registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
Sonic Automotive, Inc., a Fortune 300 company based in Charlotte, North Carolina, is the nation's third-largest automotive retailer, operating 145 franchises.
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