Sonic Announces Loans Transaction

OKLAHOMA CITY–(BUSINESS WIRE)–Sonic Corp. (NASDAQ: SONC), the nations greatest chain of drive-in
restaurants, today announced that particular of its subsidiaries intend to
result in a financing purchase, which will contain prepaying the
2011-1 Older Secured Set Rate Records (“2011 Notes”) with arises from
the sale of a new number of securitized financial debt, as well as re-financing the
2011-1 Variable Funding Senior Secured Notes, Course A-1 (“the 2011 VFN”).

  • The last refinancing occurred in July 2013 using the issuance of $155
    million of 2013-1 Senior Secured Fixed Rate Notes (the “2013 Notes”)
    and the payment of approximately $155 million from the 2011 Notes.
  • At the end of the 2nd quarter of 2016, there was approximately $268
    million inside outstanding main on the 2012 Notes.
  • Sonic’s subsidiaries intend to issue roughly $425 , 000, 000 of new
    fixed rate records (the “2016 Notes”) and use area of the proceeds in order to
    retire the 2011 Records.
  • Sonic’s subsidiaries also be prepared to enter into a fresh $150 , 000, 000
    variable money note facility, which will change its current $100
    , 000, 000 facility underneath the 2011 VFN.

The consummation of the offering is controlled by market and other
conditions and is anticipated to near in the fiscal third quarter of
2016. However , there might be no guarantee that Industry¡¯s subsidiaries
will be able to successfully complete the re-financing transaction,
either on the terms described or at all.

This press release does not constitute a deal to sell and also the
solicitation of your offer to purchase the new fixed rate notes or any additional
security. Typically the notes to get offered have never been, and may not be,
authorized under the Stock options Act regarding 1933 and may even not be offered or
purchased from the United States absent registration or an appropriate exemption
through the registration specifications of the Stock options Act regarding 1933.

Concerning Sonic

SONIC, Americas Drive-In is the nations around the world largest drive-in restaurant
string serving a lot more than 3 mil customers every single day. Nearly ninety percent
associated with SONICs a few, 500 drive-in locations are usually owned and operated by local
enterprise men and women. Over 60 years, CHEVY SONIC has happy
guests along with signature food selection items, more than 1 . a few million consume
combinations and friendly services by iconic Carhops. For more information on
Sonic Corp. (NASDAQ/NM: SONC), please visit sonicdrivein. com
or even follow us all on Fb
and Facebook.

This pr release contains forward-looking statements in the
meaning in the federal securities laws. Forward-looking statements
reflect management’s anticipations regarding future events in addition to operating
efficiency and speak only by the date hereof. These types of forward-looking
statements involve numerous risks plus uncertainties. Aspects that
may cause actual leads to differ materially from all those expressed within,
or underlying, these forward-looking statements usually are detailed inside the
company’s total annual and sydney filings with all the Securities and
Exchange Commission rate. The company performs no obligation to widely
release alterations to these forward-looking statements in order to reflect events
or situations after the time hereof or to reflect the particular occurrence associated with
unforeseen events, except as required to become reported beneath the rules in addition to
regulations of the Securities in addition to Exchange Commission rate.

SONC-F


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