Getty Realty Corp. (NYSE: GTY) announced the issuance of $250 million in senior unsecured notes with a ten‑year maturity and a fixed interest rate of 5.76%. The notes will be funded on January 22, 2026 and are intended to repay outstanding balances under the company’s $450 million revolving credit facility while providing additional capacity for general corporate purposes, including future investment activity.
The proceeds will be used to extinguish the revolving credit facility, restoring full borrowing capacity and allowing the company to refinance short‑term debt at a lower, fixed rate. The remaining funds will support the company’s ongoing acquisition pipeline and other corporate initiatives, positioning Getty to capitalize on attractive market opportunities without the volatility of short‑term borrowing.
Getty’s Q3 2025 results, released earlier in the year, underscored the company’s strong financial footing. Earnings per share of $0.40 beat consensus estimates of $0.3115 by $0.0885, driven by disciplined cost management and a favorable mix of high‑margin convenience and automotive properties. Revenue rose 8.17% to $1.16 billion, supported by robust rental income and a 5% increase in occupancy rates across the portfolio. The company also raised its 2025 AFFO guidance, reflecting confidence in continued growth and a healthy cash‑flow profile.
Chief Financial Officer Brian Dickman explained that the new notes “allow us to term out Revolver borrowings at an attractive rate and create capacity for additional investment activity.” President and CEO Christopher J. Constant added that the company’s “increased 2025 earnings guidance, committed investment pipeline, and ample liquidity” position it well to deliver continued value to shareholders.
The 5.76% rate is competitive in the current low‑interest‑rate environment, where comparable senior unsecured notes for REITs are trading in the 6.0–6.5% range. By extending the weighted‑average debt maturity to over six years, Getty reduces near‑term refinancing risk and gains greater certainty over its financing costs. The transaction also signals management’s confidence in the company’s ability to generate sufficient cash flow to service the new debt while pursuing growth opportunities.
Overall, the note issuance strengthens Getty’s balance sheet, enhances financial flexibility, and supports its strategic acquisition and investment plans. The company’s strong earnings performance, coupled with the favorable financing terms, positions it to continue delivering solid returns to investors while maintaining a robust dividend policy.
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