Getty Realty closes $125 million private placement of senior unsecured notes

Getty Realty has completed a $125 million private placement of senior unsecured notes. The issuance includes $50 million in notes at a fixed rate of 5.52% maturing in September 2029 and $75 million at a fixed rate of 5.70% maturing in February 2032.

Proceeds will fund on February 25, 2025, and will be used to fully repay Getty’s $50 million 4.75% Series C senior unsecured notes due on the same date and support general corporate purposes, including investment activities. The notes were issued to affiliates of New York Life Insurance Company and The Prudential Insurance Company of America under terms similar to Getty’s existing unsecured notes.

The financing aligns with Getty’s strategy to address upcoming debt maturities and support its investment pipeline.