Sonic Corp. said Wednesday it has repurchased $62.5 million of the company’s debt through a privately negotiated deal. The Oklahoma City, Okla.-based parent company to the 3,500-unit drive-in chain said the purchase, combined with regularly scheduled principal payments, helps to bolster its capital structure and provide added financial flexibility. Sonic said it expects to see a gain of about $5 million on the extinguishment of the Class A-1 variable funding senior notes. “We are ...

Register to view this article

It’s free but we need to know a little about you to continually improve our content.

Why Register?

Registering allows you to unlock a portion of our premium online content. You can access more in-depth stories and analysis, as well as news not found on any other website or any other media outlet. You also get free eNewsletters, blogs, real-time polls, archives and more.

 

Attention Print Subscribers:  While you have already been granted free access to NRN we ask that you register now. We promise it will only take a few minutes!
 

Questions about your account or how to access content? 

Contact: Brian Galletta (813) 627-6722 Brian.galletta@penton.com or Desiree Torres (813)-627-6792 Desiree.Torres@penton.com

Already registered? here.