CHARLOTTE, N.C., Oct. 21 /PRNewswire-FirstCall/ -- Sonic Automotive, Inc. (NYSE: SAH) today announced that it has called all of its outstanding 4.25% Convertible Senior Subordinated Notes due 2015 (the "Notes") for redemption on November 30, 2010. Sonic will redeem the $16.0 million aggregate principal amount of the Notes for cash at par plus accrued and unpaid interest up to, but excluding, the redemption date. As a result of the issuance of the notice of redemption for the Notes, the Notes have become convertible at the option of the holder of the Notes upon the terms set forth in the indenture governing the Notes.
About Sonic Automotive
Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, N.C., is one of the nation's largest automotive retailers. Sonic can be reached on the web at www.sonicautomotive.com.
Included herein are forward-looking statements, including statements pertaining to the redemption of Notes. There are many factors that affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation, economic conditions, risks associated with acquisitions and the risk factors described in the Company's annual report on Form 10-K for the year ended December 31, 2009, as updated in the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2010. The Company does not undertake any obligation to update forward-looking information.
SOURCE Sonic Automotive, Inc.