Sre Texas-2, LP
Sonic Automotive Inc., headquartered in Charlotte, North Carolina, is a Delaware corporation that specializes in automotive retail. The company has secured a revolving line of credit with Ford Motor Credit Company amounting to $550 million, allowing for flexible borrowing with interest calculated at the LIBOR rate plus 2.55% per annum.
The promissory note established between Sonic Automotive and Ford Credit outlines the terms for loan repayment, including interest payments and collateral requirements. This legally binding agreement enables Sonic Automotive to efficiently manage its financing needs while ensuring compliance with the broader credit agreement.
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