Getty Realty Corp. Closes $125 Million Private Placement of Senior Unsecured Notes
Getty Realty Corp. (NYSE: GTY) has closed a $125 million private placement of senior unsecured notes, comprising $50 million notes at 5.52% maturing September 2029 and $75 million notes at 5.70% maturing February 2032. The notes, funding on February 25, 2025, will be used to repay $50 million 4.75% Series C notes due February 2025 and for general corporate purposes. The placement was made with New York Life Insurance Company and The Prudential Insurance Company of America. Getty Realty, a net lease REIT, currently manages 1,108 properties across 42 states and Washington, D.C.
Getty Realty Corp. (NYSE: GTY) ha concluso una collocazione privata di note senior non garantite del valore di 125 milioni di dollari, comprendente note da 50 milioni di dollari al 5,52% che scadranno a settembre 2029 e note da 75 milioni di dollari al 5,70% che scadranno a febbraio 2032. Le note, il cui finanziamento avverrà il 25 febbraio 2025, saranno utilizzate per rimborsare note di 50 milioni di dollari al 4,75% di Serie C in scadenza a febbraio 2025 e per scopi aziendali generali. La collocazione è stata effettuata con New York Life Insurance Company e The Prudential Insurance Company of America. Getty Realty, un REIT a canone netto, gestisce attualmente 1.108 immobile in 42 stati e a Washington, D.C.
Getty Realty Corp. (NYSE: GTY) ha cerrado una colocación privada de notas senior no garantizadas por un total de 125 millones de dólares, que incluyen notas de 50 millones de dólares al 5,52% con vencimiento en septiembre de 2029 y notas de 75 millones de dólares al 5,70% con vencimiento en febrero de 2032. Las notas, cuyo financiamiento se realizará el 25 de febrero de 2025, se utilizarán para reembolsar notas de 50 millones de dólares al 4,75% de la Serie C que vencen en febrero de 2025 y para fines corporativos generales. La colocación se realizó con New York Life Insurance Company y The Prudential Insurance Company of America. Getty Realty, un REIT de arrendamiento neto, actualmente gestiona 1.108 propiedades en 42 estados y Washington, D.C.
Getty Realty Corp. (NYSE: GTY)는 1억 2500만 달러 규모의 비보장 선순위 채권 사모 발행을 완료했습니다. 이는 5.52% 금리의 5000만 달러 채권이 2029년 9월에 만기되고, 5.70% 금리의 7500만 달러 채권이 2032년 2월에 만기됩니다. 이 채권은 2025년 2월 25일에 자금 조달되며, 2025년 2월에 만기가 도래하는 4.75% C 시리즈 채권 5000만 달러를 상환하는 데 사용되며, 일반 기업 목적으로도 사용됩니다. 이번 발행은 New York Life Insurance Company와 The Prudential Insurance Company of America와 함께 진행되었습니다. Getty Realty는 순 임대 REIT로, 현재 42개 주와 워싱턴 D.C.에 걸쳐 1,108개의 부동산을 관리하고 있습니다.
Getty Realty Corp. (NYSE: GTY) a clôturé un placement privé d’obligations senior non garanties d’un montant de 125 millions de dollars, comprenant des obligations de 50 millions de dollars à 5,52% arrivant à échéance en septembre 2029 et des obligations de 75 millions de dollars à 5,70% arrivant à échéance en février 2032. Les obligations, dont le financement aura lieu le 25 février 2025, seront utilisées pour rembourser des obligations de 50 millions de dollars à 4,75% de la Série C arrivant à échéance en février 2025 et pour des besoins d’entreprise généraux. Le placement a été réalisé avec New York Life Insurance Company et The Prudential Insurance Company of America. Getty Realty, un REIT à loyer net, gère actuellement 1 108 propriétés dans 42 États et Washington, D.C.
Getty Realty Corp. (NYSE: GTY) hat eine Privatplatzierung von unbesicherten vorrangigen Anleihen in Höhe von 125 Millionen Dollar abgeschlossen, die Anleihen über 50 Millionen Dollar zu 5,52% mit Fälligkeit im September 2029 und Anleihen über 75 Millionen Dollar zu 5,70% mit Fälligkeit im Februar 2032 umfasst. Die Anleihen, die am 25. Februar 2025 finanziert werden, werden verwendet, um Anleihen über 50 Millionen Dollar zu 4,75% der Serie C zu tilgen, die im Februar 2025 fällig werden, und für allgemeine Unternehmenszwecke. Die Platzierung wurde mit New York Life Insurance Company und The Prudential Insurance Company of America durchgeführt. Getty Realty, ein Net-Lease-REIT, verwaltet derzeit 1.108 Immobilien in 42 Bundesstaaten und Washington, D.C.
- Secured $125 million in new financing
- Additional growth capital available for investment pipeline
- Maintains relationships with major institutional investors
- Higher interest rates on new notes (5.52% and 5.70%) compared to maturing notes (4.75%)
- Increased debt service costs due to higher interest rates
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NEW YORK, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”) announced today the closing of its previously disclosed private placement of
The senior unsecured notes will fund on February 25, 2025 and proceeds will be used to repay in full the Company’s
The senior unsecured notes were issued in a private placement with affiliates of New York Life Insurance Company (“New York Life”) and The Prudential Insurance Company of America (“Prudential”) under substantially similar terms and conditions as the Company’s existing senior unsecured notes.
“This financing addresses our upcoming unsecured notes maturity in February 2025 and provides us with additional growth capital to accretively fund our investment pipeline,” said Brian Dickman, Getty’s Chief Financial Officer. “We appreciate our relationships with New York Life and Prudential and their support as we continue to expand our platform.”
The senior unsecured notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Act”) or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state securities laws.
This press release is for informational purposes only, does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 September 30, 2024, the Company’s portfolio included 1,108 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 |
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