Getty Realty Corp. announced that the Company entered into a new senior unsecured term loan (the ?Term Loan?) with a group of existing lenders in an aggregate principal amount of $150 million. The Term Loan matures October 17, 2025 with one twelve-month extension exercisable at the Company's option, subject to certain conditions.

The Term Loan is comprised of an initial principal amount of $75 million that was funded at closing and used to repay amounts outstanding under the Company?s revolving credit facility, and an additional principal amount of $75 million that can be funded in a single draw at the Company?s option any time on or prior to the 180th day following the closing date. In connection with the Term Loan, the Company entered into $150 million of interest rate swaps to fix SOFR at 4.73% until maturity. Including the impact of the swaps, the effective interest rate on the Term Loan is 6.13% based on the Company's consolidated total indebtedness to total asset value ratio as of September 30, 2023.

The Company entered into the Term Loan with Bank of America, N.A., as administrative agent, and BofA Securities Inc., J.P. Morgan Chase Bank, N.A., TD Bank, N.A., and Capital One, N.A. as joint lead arrangers.