Getty Realty repays debt with proceeds from new $200 million loan
GTY•Getty Realty used proceeds from a new $200 million senior unsecured term loan to repay revolving credit facility borrowings, including borrowings used to fund part of the recently completed Refuel transaction.
1. Loan terms
The term loan matures on October 16, 2028, and has three conditional 12-month extension options. Its effective interest rate at closing was 5.03%.
2. Credit agreement changes
Related amendments removed a 10-basis-point SOFR credit spread adjustment on revolving borrowings, allowing ratings-based pricing.
