Getty Realty Corp., a real estate investment trust specializing in gas stations and convenience stores, has issued $125 million in notes to refinance existing debt and added another $50 million to its unsecured credit facility.
The Jericho-based company said it issued $125 million of senior unsecured notes maturing in 2029 with a 3.52 interest rates., citing two projects in the works.
The notes were issued to The Prudential Insurance Company of America, American General Life Insurance Company and Massachusetts Mutual Life Insurance Company.
“Proceeds from the transaction were used to repay outstanding indebtedness on the Company’s floating rate term loan and revolving credit facilities,” the company said.
Getty Realty also said it increased its unsecured revolving credit facility from $250 million to $300 million.
Getty Realty is a real estate investment trust specializing in the ownership, leasing and financing of convenience store and gasoline station properties.
As of June 30, 2019, the company owned 862 properties and leased 71 properties from third-party landlords in 31 states across the United States and Washington, D.C.
