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.
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 the NRN Digital and Print access package, for only a small additional amount, you can get NRN All Access, which includes premium reports such as the annual NRN Top 200 data. Either way, we ask that you register now. We promise it will only take a few minutes!