March 11, 2010 (FinancialWire) — Sonic Automotive, Inc. (NYSE: SAH) has priced its private offering of $210 million in aggregate principal amount of 9.0% senior subordinated notes due 2018 to qualified institutional buyers.

The notes will be guaranteed by all of the company’s operative domestic subsidiaries. They were priced at 99.299% of par, resulting in a yield to maturity of 9.125%. This offering is scheduled to close on March 12.

Sonic plans to use the net proceeds to redeem a portion of the company’s 8 5/8% senior subordinated notes due 2013.

North Carolina-based Sonic Automotive is an automotive retailer operating 145 franchises.

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