Getty Realty Uses $200 Million Loan to Repay Revolver Borrowings

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.

Source: TokenPost