Getty Realty Corp. announced the closing of a $250 million private placement of senior unsecured notes.
The notes have a ten-year term with a fixed interest rate of 5.76% and are scheduled to fund on January 22, 2026.
Proceeds from the notes will be used to repay amounts under the Company's revolving credit facility and for general corporate purposes.
Senior Unsecured Notes Issued
Getty Realty Corp. issued $250 million of senior unsecured notes with a 10-year term and a fixed interest rate of 5.76%.
Use of Proceeds
The proceeds from the notes will be utilized to repay amounts under the Company's revolving credit facility and for general corporate purposes, including investment activities.
Financial Strategy
The financing allows the Company to term out revolver borrowings at an attractive rate, providing capacity for further investment activities.
- The issuance of the senior unsecured notes strengthens Getty Realty Corp.'s financial flexibility and allows for longer-term debt management.
- Upon funding the notes, the Company will have full borrowing capacity under its revolving credit facility, improving its debt maturity profile to over 6.0 years.
Getty Realty Corp.'s successful closing of the private placement demonstrates a strategic move to enhance financial strength and support future investment activities. This financing will enable the company to manage debt effectively and pursue growth opportunities in the real estate sector.