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OKLAHOMA CITY — Sonic Corp. has signed a $775 million credit agreement with a syndicate of financial institutions led by Banc of America Securities LLC and Lehman Brothers Inc.
 
According to a news release, the credit agreement provides for a new senior secured credit facility, which consists of a $100 million, five-year revolving credit facility and a $675 million, seven-year term loan facility.
 
Sonic will pay a commitment fee on the unused portion of the revolving credit facility, starting at 0.375 percent and adjusting over time based upon Sonic's leverage ratio.

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