Sonic to Host Analyst-Institutional Investor Conference
Company Purchases $28.6 Million of Outstanding Fixed-Rate Debt
Sonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced that it will host an investor day with industry analysts and institutional investors at the company's offices on Tuesday, May 4, 2010. The meeting will begin at 8:15 a.m. CDT and conclude at approximately 12:30 p.m. CDT. Presentations will include an overview of Sonic’s business strategies and product quality, media allocation and promotional initiatives. The event will be simulcast over the Internet and a link to this event may be found at the investor section of the company's website, www.sonicdrivein.com.
Sonic also announced that it has purchased approximately $28.6 million of its Class A-2 senior fixed-rate notes during its third fiscal quarter, using excess cash. With over $90 million in cash after the purchases are completed, Sonic will continue to use its excess cash on an opportunistic basis for credit enhancements, stock repurchases or other stockholder-value initiatives.
