Getty Realty Corp. Announces Expanded $450 Million Credit Facility
Getty Realty Corp. (NYSE: GTY) has announced an expansion of its senior unsecured revolving credit facility to $450 million, up from its previous amount. The Credit Facility will mature in January 2029, with options to extend to January 2030, and includes an accordion option for additional lender commitments up to $300 million.
The company used the increased capacity to repay its $150 million senior unsecured term loan that was due in October 2025. This amount remains drawn on the Credit Facility and continues to be subject to interest rate swaps that fixed SOFR at 4.73% until October 2026 or earlier repayment.
As of December 31, 2024, Getty's portfolio included 1,118 freestanding properties across 42 states and Washington, D.C. The company now has no debt maturities until June 2028.
Getty Realty Corp. (NYSE: GTY) ha annunciato un'espansione della sua linea di credito revolving senior non garantita a 450 milioni di dollari, rispetto all'importo precedente. La linea di credito scadrà a gennaio 2029, con opzioni di proroga fino a gennaio 2030, e include un'opzione di tipo accordion per ulteriori impegni da parte dei finanziatori fino a 300 milioni di dollari.
L'azienda ha utilizzato la capacità aumentata per rimborsare il suo prestito senior non garantito di 150 milioni di dollari in scadenza nell'ottobre 2025. Questo importo rimane utilizzato nella linea di credito ed è soggetto a swap sui tassi d'interesse che fissano il SOFR al 4,73% fino a ottobre 2026 o a un rimborso anticipato.
Alla data del 31 dicembre 2024, il portafoglio di Getty includeva 1.118 proprietà indipendenti in 42 stati e Washington, D.C. L'azienda non ha scadenze di debito fino a giugno 2028.
Getty Realty Corp. (NYSE: GTY) ha anunciado una expansión de su línea de crédito rotativa senior no garantizada a 450 millones de dólares, en comparación con el monto anterior. La línea de crédito vencerá en enero de 2029, con opciones de prórroga hasta enero de 2030, e incluye una opción de accordion para compromisos adicionales de prestamistas de hasta 300 millones de dólares.
La empresa utilizó la capacidad incrementada para reembolsar su préstamo senior no garantizado de 150 millones de dólares que vencía en octubre de 2025. Esta cantidad sigue siendo utilizada en la línea de crédito y continúa sujeta a swap de tasas de interés que fija el SOFR al 4.73% hasta octubre de 2026 o reembolso anticipado.
Hasta el 31 de diciembre de 2024, el portafolio de Getty incluía 1,118 propiedades independientes en 42 estados y Washington, D.C. La empresa no tiene vencimientos de deuda hasta junio de 2028.
Getty Realty Corp. (NYSE: GTY)는 무담보 선순위 회전 신용 시설을 4억 5천만 달러로 확장했다고 발표했습니다. 이는 이전 금액보다 증가한 것입니다. 신용 시설은 2029년 1월에 만료되며, 2030년 1월까지 연장 옵션이 있으며, 추가 대출자의 약정에 대한 아코디언 옵션이 포함되어 있습니다. 최대 3억 달러까지 가능합니다.
회사는 증가된 용량을 사용하여 2025년 10월에 만기가 도래하는 1억 5천만 달러의 무담보 선순위 대출을 상환했습니다. 이 금액은 신용 시설에서 여전히 차감되며, 2026년 10월까지 또는 조기 상환 시까지 SOFR를 4.73%로 고정하는 금리에 대한 스왑의 적용을 받습니다.
2024년 12월 31일 기준으로 Getty의 포트폴리오는 42개 주와 워싱턴 D.C.에 걸쳐 1,118개의 독립형 부동산을 포함하고 있습니다. 회사는 2028년 6월까지 만기가 도래하는 부채가 없습니다.
Getty Realty Corp. (NYSE: GTY) a annoncé une expansion de sa ligne de crédit renouvelable senior non garanti à 450 millions de dollars, par rapport à son montant précédent. La ligne de crédit arrivera à maturité en janvier 2029, avec des options d'extension jusqu'en janvier 2030, et comprend une option d'acordion pour des engagements de prêteurs supplémentaires jusqu'à 300 millions de dollars.
L'entreprise a utilisé la capacité accrue pour rembourser son prêt senior non garanti de 150 millions de dollars qui arrivait à échéance en octobre 2025. Ce montant reste tiré de la ligne de crédit et continue d'être soumis à des swaps de taux d'intérêt qui fixent le SOFR à 4,73 % jusqu'en octobre 2026 ou jusqu'au remboursement anticipé.
Au 31 décembre 2024, le portefeuille de Getty comprenait 1.118 propriétés autonomes dans 42 États et Washington, D.C. L'entreprise n'a pas de maturités de dette jusqu'en juin 2028.
Getty Realty Corp. (NYSE: GTY) hat eine Erweiterung seiner unbesicherten revolvierenden Kreditfazilität auf 450 Millionen Dollar angekündigt, im Vergleich zum vorherigen Betrag. Die Kreditfazilität wird im Januar 2029 fällig, mit Optionen zur Verlängerung bis Januar 2030, und umfasst eine Accordion-Option für zusätzliche Kreditgeberverpflichtungen bis zu 300 Millionen Dollar.
Das Unternehmen nutzte die erhöhte Kapazität, um seinen unbesicherten Senior-Darlehen in Höhe von 150 Millionen Dollar zurückzuzahlen, das im Oktober 2025 fällig war. Dieser Betrag bleibt in der Kreditfazilität in Anspruch genommen und unterliegt weiterhin Zinssatzswaps, die den SOFR bis Oktober 2026 oder einer vorzeitigen Rückzahlung auf 4,73% festlegen.
Zum 31. Dezember 2024 umfasst das Portfolio von Getty 1.118 freistehende Immobilien in 42 Bundesstaaten und Washington D.C. Das Unternehmen hat bis Juni 2028 keine fälligen Schulden.
- Increased credit facility capacity to $450 million with extension options to 2030
- Additional accordion option allowing up to $300 million in extra lender commitments
- No debt maturities until June 2028, improving financial flexibility
- Fixed interest rate of 4.73% on $150 million through rate swaps until October 2026
- Maintains $150 million in debt drawn from the credit facility
Insights
Getty Realty's credit facility expansion marks a strategic financial enhancement that materially strengthens their capital structure and growth potential. The increase to
The timing of this refinancing is particularly advantageous, occurring ahead of the October 2025 term loan maturity and amid expectations of potential interest rate cuts. By maintaining the existing interest rate swaps at
The expanded banking syndicate, which now includes ten major financial institutions, reflects strong institutional confidence in Getty's business model and growth trajectory. This broader lender base typically translates to increased financial flexibility and potentially more favorable terms for future capital needs.
For investors, this refinancing represents three key positives:
- Enhanced acquisition capacity to drive external growth in their target markets
- Improved debt maturity ladder with significant runway until 2028
- Strong banking relationships providing multiple capital access points
With a portfolio of 1,118 properties across 42 states, this expanded facility positions Getty to capitalize on acquisition opportunities in the fragmented convenience store and automotive retail real estate sectors, where their specialized expertise provides a competitive advantage in property selection and tenant relationships.
– Repays Outstanding Term Loan and Extends Maturity to 2029 –
– Company Has No Debt Maturities Until June 2028 –
NEW YORK, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”), a net lease REIT focused on convenience and automotive retail real estate, announced today that it has entered into a Third Amended and Restated Credit Agreement with a group of existing and new lenders that increases its senior unsecured revolving credit facility (the “Credit Facility”) to
The Credit Facility will mature in January 2029, with Company options to extend the maturity date to January 2030, and includes an accordion option that allows the Company to request additional lender commitments not to exceed
As part of the transaction, the Company used the increased capacity provided by the Credit Facility to repay its
“The expanded Credit Facility gives us increased capacity and enhanced flexibility as we continue to scale our platform and position our balance sheet to support our growth objectives,” said Brian Dickman, Getty’s Chief Financial Officer. “We appreciate the strong support of our bank group, including both new and existing lenders, and now have no debt maturities until June 2028.”
The Company entered into the Third Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and BofA Securities, Inc., J.P. Morgan Chase Bank, N.A., KeyBanc Capital Markets, and Wells Fargo Securities, LLC as joint lead arrangers. Other participants include Capital One, N.A., Citizens Bank, N.A., The Huntington National Bank, TD Bank, N.A., and Truist Bank.
About Getty Realty Corp.
Getty Realty Corp. is a publicly traded, net lease REIT specializing in the acquisition, financing and development of convenience, automotive and other single tenant retail real estate. As of December 31, 2024, the Company’s portfolio included 1,118 freestanding properties located in 42 states across the United States and Washington, D.C.
| Contacts: | Brian Dickman | Investor Relations | ||
| Chief Financial Officer | (646) 349-0598 | |||
| (646) 349-6000 | ir@gettyrealty.com |
FAQ
What is the new credit facility amount for Getty Realty Corp. (GTY)?
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