Add as a preferred source on GoogleGetty Realty Uses $200 Million Loan to Repay Revolver Borrowings
The term loan carried a 5.03% effective rate at closing and allows three optional 12-month extensions, subject to conditions.
Getty Realty Corp. used a $200 million senior unsecured term loan to repay revolving credit facility borrowings, including debt that funded part of a recent Refuel transaction.
The loan came from a group of existing lenders. It carried an effective rate of 5.03% at closing and matures Oct. 16, 2028. The agreement allows three optional 12-month extensions, subject to conditions.
The financing was part of an amendment to Getty Realty’s credit agreement. The amendment also removed a 10-basis-point adjustment on SOFR-based borrowings under the revolving facility.
Some of the repaid debt had helped fund a $260.9 million sale-leaseback deal with Refuel, which closed Sept. 22. Getty Realty acquired 41 convenience stores in the transaction from Refuel Operating Company, LLC, and its affiliate Blue Horseshoe 2, LLC. The properties are in South Carolina, North Carolina, Texas and Mississippi.
Getty Realty is a real estate investment trust focused on convenience stores and automotive retail properties.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.