Getty Realty Corp: enters $200,000,000 term loan and amends credit agreement

What happened

• Getty Realty Corp announced that on Oct 16, 2026 it entered into the Second Amendment to Third Amended and Restated Credit Agreement (the "Amended Credit Agreement") among certain subsidiaries as guarantors and Bank of America, N.A., as administrative agent, which amended the Third Amended and Restated Credit Agreement dated Jan 23, 2025. The amendment provided for a new senior unsecured term loan in an aggregate principal amount of $200,000,000. On Oct 19, 2026 the company issued a press release announcing its entry into the Term Loan.

Key details

• Term loan: $200,000,000 senior unsecured term loan; effective interest rate at closing was 5.03%.
• Rate and maturity: borrowings bear interest equal to (i) SOFR plus a margin of 0.75% to 1.55% or (ii) a base rate plus a margin of 0.00% to 0.50% based on the company's credit rating; stated maturity Oct 17, 2025, subject to 3 twelve-month extension options exercisable at the company's option and subject to conditions and extension fees.
• covenant and rating changes: removed the 10.0 basis points SOFR Adjustment from the definition of Daily Simple SOFR for the revolving facility; changed the definition of Investment Grade Credit Rating to mean receipt of at least 1 Debt Rating of Baa3 or better from Moody’s or BBB- or better from S&P or Fitch (previously required at least 2 Debt Ratings).
• other terms: Amended Credit Agreement includes customary financial covenants (total, secured and unsecured leverage ratios; fixed charge and interest coverage ratios; minimum tangible net worth), limitations on restricted payments, and customary events of default, including cross default provisions. Certain lenders and their affiliates have provided and may provide other services to the company.

Why it may matter

• The filing reports under Item 1.01 the entry into a material definitive agreement (the Amended Credit Agreement) and under Item 2.03 the creation of a direct financial obligation (the $200,000,000 Term Loan), and under Item 7.01 that the company issued a press release on Oct 19, 2026 announcing the Term Loan. The filing describes the loan terms, covenant tests and default provisions within the Amended Credit Agreement. The filing does not show why the company acted.